|
2� 1 ��593�
<br /> DEEa aF TRUST
<br /> {�o�t�nued� Page 4
<br /> LENI]ER'S EXPEND�TURES. lf Trustor fails �A) to keep the Prope�ty free of a11 taxes, liens, s�curity interests,
<br /> en�umbrances, and o�her cfaims, �B) ta pro�ide any required insurance on �he Proper�y, �C} fo make repairs to the
<br /> Property or ta comply with any obligation t❑ main�ain Exis��ng �ndebtedness in gaod standing as requ�red be[ow, �hen
<br /> Lender may do so. If any action ar p�oceeding is cammenced tha�wou�d materially affect Lender's interests in the
<br /> Property, then Lender on Trus�or's behalf may, but is nat required to, �ak� any action �hat Lender bel�eves tfl �e
<br /> appropriate to protect Lender's interests. Af� expenses incurred or paid by Lender�ar such purposes wiI[ then bear
<br /> interest at #he ra�e charged under �he Cred�t Agreement from the date incurred or pa�d by Lender �a the date ❑f
<br /> repayment by Trustar. A�i such expenses will became a par�of the Indebtedness and, a� Lender's optian, will �A} be
<br /> payable an demand; �B} �e added to the bafan�e ❑f the Credit Agreemen� and be apportioned amang and be payable
<br /> w�th any installment paymen�s to become due during either ��} the term ��any applicable insurance policy; or {2} the
<br /> remaining term a��he Cr�di�Agreement; ar �C} be trea�ed as a ba�foon payment vvhi�h wi�l be due and payable at the
<br /> Credit Agreement's maturity. The De�d of Trust also wil[ s�cur� payment of th�se amaunts. The rights provided for in
<br /> this paragraph sha!! be in addi�ion to any other rights or any remedies to whi�h Lender may be entit�ed on ac�ount o�
<br /> any defau�t. Any such act�on by Lender shall not be �onstrued as curing �he default so as to �a� Lender from any
<br /> remedy�hat�t otherwise would have had.
<br /> WARRANTY; DEFENSE QF TiTLE. The following provis�ans r�lating to own�rship❑f the Property are a par�of this Deed
<br /> af Trus�:
<br /> Title. Trusto�warrants that: �a} Trus�or ho�ds goad and marketable t�t[e of reco�d �o the Proper�y in fee simple,
<br /> free and elear of all �iens and encumbrances other than those se� for�h �n the Rea[ Prope�#y descrip�ion or in the
<br /> Existing Indebtedness section below or in any��tle insurance policy, title repor�, or final�i�l�apinian �ssued in favor
<br /> af, and acc�p�ed by, Lender in connection with �his Deed af Trus�, and �b} Trustar has #he full right, pow�r, and
<br /> authority to execute and deli�er�his Deed of Trust to Lender.
<br /> ❑e�ense of Tit�e. Subject to the exceptian �n the paragraph above, Trustor warrants and will forever defend the
<br /> title to the Property against th� lawful claims of all persons. In the event any action or pra�eeding is �ommen�ed
<br /> that questions Trustor's�it�e or the inter�st o�Trustee ar Lender under this Deed of Trust, Trustor shall de�end the
<br /> action at Trustor's expense. Trustor may be the n�minal pa�y in such p�oceeding, but Lender shall be en��tled to
<br /> participate in the praceeding and to be represented in the praceeding by counse! o� Lender's own choice, and
<br /> Trustar wi�l deliver, or cause to h�deli�ered,ta Lender such instruments as Lender may request from ��me to time
<br /> ta perm�t such par�ic�pation.
<br /> Compliance With Laws. Trustor warrants that the Prope�ty and Trustar's use of thc� Prap�r�y Gomplies with all
<br /> existing app[icable�aws, ordinances, and regulations of ga�ernmental au�hori��es.
<br /> Survival vf Rromises. A!1 prvmises, agreements, and statements Trustor has made in th�s ❑eed af Trust shal�
<br /> survEve the ex�cu��on and deli�ery o�this Deed Qf Trust, sha�l be con�inuing in na#ure and shall �ema�n in full�arce
<br /> and effect until such time as T�ust�r's[ndebtedness is paid �n�u11.
<br /> EXISTIN�1NDEBTEDNESS. The fa[lowing pro�isions cancern�ng Exist�ng lndebt�dness ar�a part of this D�ed af Trust:
<br /> Existing Lien. The lien nf this Deed of Trus� secu�ing th� fndebtedness may be se�ondary and inferior ta an
<br /> ex�s�ing iien, Trustor expressly covenants and agrees�o pay, or see to the payment of, the Existing Indebtedness
<br /> and to pre�ent any defau�t on such indebtedness, any default under�he�nstruments��idencing sueh indebtedness,
<br /> or any default under any security do�uments�or such indebtedness.
<br /> N� Modification. Trus�or shall nat en�er into any agreement with the holder of any mortgage, deed of�rust, or
<br /> other security ag�eement which has priority over th�s Deed of Trus� by which �ha� agreement is modified,
<br /> amended, extended, or renewed wi�hau# �he prior written consent af Lender. Trustar shal� neither requesf nor
<br /> accep�any future ad�ances under any su�h security agreement wi#hout the priar written c�nsent of Lender.
<br /> CC]NDEMNATI�N. The follow�ng pra��sians relating�o candemnation praceed�ngs a�e a park of this Deed��Trust:
<br /> Pra�eedirtgs. lf any praceeding �n condemnat�on is filed, Trustor shall pramptiy notify Lender in writing, and
<br /> Trustor shal[ promp�ly take such st�ps as may be necessary to defend the actian and obtain the award. Trustar
<br /> may be the naminal party in such proce�ding, but�ender shall be entitled�o pa�ticipate in the praceeding and ta be
<br /> �epresen�ed in the proceeding by caunse� of its own choice, and Trustor wil[ d�liver or cause to be deli��red �o
<br /> Lender su�h instruments and documentation as may be requested by Lender from time �o time to permit such
<br /> par�ic�pati�n.
<br /> Appli�atian of Net Pr�oc�eds. I�all or any part af the Praperty �s condemned by eminent domain praceed�ngs or by
<br /> any proceeding or pur�hase in lieu o'�candemnation, Lender may at its electian require that alf or any partian of�he
<br /> net proeeeds of the award be app�ied to th� Indebtedness or the repair ar restoration of the Property. The net
<br /> praceeds of�he award shal� mean �he award after pa�ment of a11 �easonahle costs, expenses, and at�orneys' fees
<br /> �ncur�ed by Trustee or Lender in connec�ian with�he candemnatian.
<br /> II�PQSITInN OF TAXES, FEES AN❑ CHAR�ES BY GflVERNMENTAL AUTH�RITIES. The �ol�owing pro�isions re[ating
<br /> to g�Wernmenta!taxes,fees and charges are a par�of this Deed o�Trus�:
<br /> Curren� Taxes, Fees and Charges. Upon request by Lender, Trus�ar sh�ll execute such dacuments in addi�ion to
<br /> this Deed af Trust and take whate�er a�her action is requested by Lender�o per�ect and cantinue Lender's �ien on
<br /> the Real Property. Trus�or sha[1 reimburse Lender for al� taxes, as described be(ow, �ogether w�th a[[ expenses
<br />
|