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2� 1 ��� 113
<br />� DFED �F TRUST
<br /> {C�nflClued} Page 3
<br /> �he maximum policy limits sef under��e National F1vod Insu�ance Pr�ogram, or-as o�he�wise required by Lender, and
<br /> to maintain such insurance�or the term of�he laan.
<br /> Appiication of Proceeds. Tr'us�o� shaIx pt'ompt�y nv�ify Lende� o� any Ioss or damage f❑ the Property if the
<br /> es�imated cos�o�r-epair o�replacem�nt exceeds $�,D��,OQ. Lender may make praof o�Ioss if Trustor�ails�o do
<br /> sv wi�hin�ifteen �15) days o��he casua�ty. Whether or no� Lender's security is impaired, Lender may, af Lender's
<br /> e�ec�ion, recei�e and re�ain the proceeds ❑� any insurance and appIy �he proceeds �❑ the reduction of'the
<br /> indeb�edness, payment o� any Iien afifecting �he Property, o�-�he restora�ion and repair ofi the Property, If Lender
<br /> eIects to apply fhe proaeeds �o restnration and repair� Trus�a�- shal! repai� or rep�ace �he damaged ❑r des�royed
<br /> �mpro�ements in a manne�-safis-�ac�ory to Lender. Lender shall, upon sa�is�actary proa-F of such expendi�urer pay
<br /> ar reimburse Trustor from �he proceeds fvr-�he reasona�Ie cost ❑f �epa�r- ❑r res�ora�ion if Trus�or is no� in defaul�
<br /> under this Deed ❑�Trust. Any proceeds which harre not been disbursed wi�hin 'i 80 days af-�et-their receipt and
<br /> � which Lende�-has not cvmmit�ed to the repair or res�oration of the Prvper�y shaII be used f�rst to pay any amount
<br /> owing ta Lender under this Deed of Trusfi, �hen t❑ pay accrued intet�est, and�he t-emaindet�, �f any, shaII �e appiied
<br /> to �he principa! balance of �he Indeb�edness. Ifi Lende� holds any proceeds after payment in fuIi of �he
<br /> lndebfednessr such p�oceeds shaII be paid to Trusfor as Trustor's interests may appear,
<br /> G�mpliance wifh Existing [ndebfedness. ❑ur�ng the period in which any Existing Indebfedness descr�bed below is
<br /> . �n effectt cvmpIiance wrth the insurance provisions contained in �he instrument e�idencing such Existing
<br /> indeb�edness shaII cans�ifute compliance wi�h the insurance prorrisions under this Deed of Trust, to �he ex�ent
<br /> compliance wi�h �he �erms ❑f this ❑eed o�Trust wouId constitute a duplication ❑f insu�ance requr�emen�. �f any
<br /> pracseds�ram�he insurance become payable o� Iass, the pra�isions in this Deed of Trust for dirrision of proceeds
<br /> shall appiy onIy�o�ha�porti�n of the praceeds not payabie t��he holder af the Exisfing Indebtedness,
<br /> LEN�ER'S EXPEND�TLIRES. l� Trustor farls (A} to keep �he Property tree of a1� �axes, liens, secu�ity interests,
<br /> encumbr�anGes, and other claims, {g� to pro�ide any required insurance on the Praperty, {C} ta make repairs rto the
<br /> P�operty or�o compIy wi�� any ❑bIigation to rr�aintain E�cis�ing Indebtedness in good s�anding as �equired belvw, then
<br /> Lende� may do so, I� any actian �r prviceeding is commenced tha� would materially affect Lender's interests in the
<br /> Pr�operry, �hen Lender on T�ustor's behalf may, but is no� required ta, �ake any action that Lende� helie�es to be
<br /> appropria�e to protect Lender's intet-es�s, A�I expenses incurr�d or paid by Lendet- �or such pu�-pases will �hen bea�
<br /> in�eres� a� �he rate charged under �he �r�dit Agt-eement ��om the date incurred nr paid by Lender to the date o-�
<br /> repaymen� by Trustor-. All such expenses wiII became a part of the �nde��edness and, at Lender's aption, wilI �A] be
<br /> payab�e on demand; �B} be added to the baIan�e of the Credi�Agreement and be apportioned a�mong a�d be payab�e
<br /> i with any instaljmen�payments to become due during ei�her ��} the term o�any applicable�nsu�an�e policy; or �2� the
<br /> rematning�erm o�the Gred��Agreement; ar tC} he treated as a ba1loon payment which wi1� be due and payable a�rthe
<br /> Cred��Agreement's ma�u�ity. The Deed of TCus�also w�II secure payment�f�hese amaunts. The r-igh�s pt�o�ided�or in
<br /> this paragraph sha11 he in addition �❑ any ather rights ar any remedies �o which Lender may be enti�Ied on accnunt �f
<br /> any de�auIt. I-�ny such actian by Lender shaIl nvt b� construed as curing the default so as to bar Lender �rom any
<br /> remedy�hat it otherwise wou�d ha�e had.
<br />;
<br /> 1NARRANTY� DEFENSE DF T�TLE. The�ollowing pro�isions �ela�ing to ownership o��he Property are a part o�this Deed
<br />� of Trus�:
<br /> Title. Trus�ar warrants that; {a} Trus�or holds good and marke�able title of record �o the Prape�y in �ee simple,
<br /> �ree and �lear of aI� li�ns and encumbrances o�her than th�se set forth in the ReaI Property descrip�tion or in the
<br /> Exis�ing Indeb�edness section belaw or in any title insurance poIicy��ifie report, or fina�titEe apinion issued in fa�o�
<br /> of, and accepted by, Lender in cannectian wi�h fhis l�eed of Trust, and �b} Trus�or has the fuII righ�► power, and
<br /> authority�o execu�e a.nd deliver�his ❑eed o�Trust to Lender, .
<br /> Defenss of Tit�e, Subjec�to the exception in the paragraph abaver Trusto� warran�s and wi�C fore�er defend the
<br /> �itIe ta �he Properry against�he Cawfu� cIaims of aII persons, ln the e�ent any a�fiion or p�aceeding is commenced �
<br /> that questions Trus�or's title �r-the in�erest ofi Trustee or Lender under this Deed o�Tr�ust,Trustor sha�! defend the
<br /> a�tian at Trustor-'s expense. Trustor may be the nominal party �n such proceeding, bufi Lender shalI be en�i�led to �
<br /> participa�e in the proceeding and t❑ be represented in the p�aceed�ng by counsel of Lender's awn choice� and
<br /> Trustor wiII delive�-, or cause to be deli�ered,�o Lende�such instruments as Lender may request�rann time�o�ime S
<br /> to permit such parti�ipatian. `
<br /> Complian�e With Laws. Trusto�- warrants tha�the Proper�y and T�us�or's use of the Property compiies with aII �
<br /> exis�in� applicable laws, ❑rdinancesr and regulatians❑�go�ernmen�al autho�ities, .
<br /> ;
<br /> Sur�i�aI of Promises. All promises, agreements, and sta�ements Trustot- has made in this �eed of Trust sha�! �
<br /> sur�i�e the execu�ion and deli�ery�f th�s Deed ❑f Trus�, shaII be continuing in na-ture and shaII �-emain in�uIl �orce ;
<br /> and effeaf un�iI such tim�as Trus�or's �ndebtedness is paid in fuII. +
<br /> i
<br /> E�C15TiNG 1ND�BTEDNESS. The foIIawing pro�isions cancerning Exi�ting Indeb�edness are a part of this Deed vf Trust: f
<br /> ;
<br /> Existing Lien. The �ien o� �his ❑eed of Tt-ust securing the Indebtedness may be secondary and inferior to an I
<br /> exis�ing Ixen. Trustor expressIy co�enants and agrees�a pay, o�see�o the paymen�af, the Existing Indebtedness
<br /> and�o prevent any defiault on such indebtedness� any default unde�the ins�ruments e�fdencing such indebtedness, ;
<br /> or any defaul�under-any security d�cumen�s fo�such indebtedness. `
<br /> No Modifcation. Trustor shalC not enter in�o any agreement wifh fhe halder of any mortgage, deed o�trust� or� '
<br /> o�her security agreement w�ich has priority o�er this Deed ❑� Trust by which tha� agreement is modified,
<br /> amendedr extended, a� renewed without the pria� written c�nsent ❑f Lender. Trustor shaIl nei�her reques� nar
<br /> accept any fufure ad�ane�s under any suah security agreemen�wi�hou�the prior writ�en consen�of Lender.
<br /> C�NDEMNATIaN. The fal�owing pro�isions relating to cvndemnafiion pro�eedings are a part v�fhis Deed of Trus�: '
<br /> Proceedings. if any proceeding in condemnat�on is filed, Trus�or shall p�omp�Iy noti�y Lende� in wt�iting, and
<br /> Trusto�shalf promp��y take such s�eps as may be necessaty to defend the ac�ion and Qbtain �he award. Trus�or
<br /> may be the naminal party in such proceeding, but Lender shall be en�itIed to par-ficipate in the p�vice�ding and to be
<br /> represented in �he proceeding by caunseI ot its own choice, and Trustor will da�i�er or cause to be deIi�ered �o �
<br /> Lender su�h instruments and documen�a�ion as may be requested by Lender from time �a time to permit such
<br /> parti�ipation.
<br /> Rppli�ation af Net Pro�aeds. �f all or any part of�he Property is condemned by eminen�domain proceedings or by
<br /> any proceeding ar purchase in Iieu of condemna�ion, Lender may a�i�s electio� �equire that all or�any portian of the
<br /> net proceeds ❑f�he award be applied ta �he Indebtedness or the repair or restaration of�he Property, The net�
<br /> pr`oceeds af the award shall mean the award after paymen�o�af� t�easona.b�e cas�s, expenses, and attorneys' �ees
<br /> incurred by Trustee or Lender in connection wifh�he candemna�ion.
<br /> �MP�SITI�N �F TAXES; FEES AND CHARGES BY ��VERNMENTAL AUTHDRITIES. The follawrng pravisions re�ating .
<br /> to go�ernmental taxes��ees and chat�ges are a part o�this Deed❑f Trust: �
<br /> Curr�nt Taxes, Fees and �harges. Upon request by Lende�, Trustor shal� execute such documen�s in additi�n �❑
<br /> �his �eed of Trust and take wha�e�er other action is requested by Lend�r�o per�ect and continue Lender's lien on
<br /> th� Reai Praperty. Trus�ar shal� rexmbu�se Lender for aII taxes, as described beloww toge�he� w�th all expenses
<br /> incurred in recording, perfiecting or con�inuing this ❑eed of Tr-us�, inc{uding without fimitation aEl taxes, fees,
<br /> documentary s�amps,and other cha�ges for-recording or regis�ering this Deed ofi Trust.
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