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<br /> � 2� 1 ���589
<br /> 1DEED �F T�L�ST
<br /> ����1ti�1 t��d} Page �
<br /> Proper�y in an amount suffi�ien# ta avoid appli�atian of any ���nsurance clause, and with a ��anda�d mortgagee
<br /> clause in fa�or o�Lend��,t�gether with such othe�hazard and liabiiity insurance as Lender may�easanably r�quire.
<br /> Polic�es shall be written in farm, amounts, coWerages and bas3s reasonably accepta�l� ta Lender and issued by a
<br /> �ompany or companies reasanably acceptable tv L�nder. Trustor, upan request of �ender, vuili defive�to L�nder
<br /> �f�om �ime to �ime th� paEicies �r certificates of insurance in fa�m satisfactary t� L�nder, including stipulations�ha�
<br /> caverages wil� no�be cancel[ed ❑r diminished without at�east thirty �30} days pr�or wri��en n�ti�e ta Lender, Each
<br /> insurance policy aiso sha�� in��ude an endorsement �r�viding that caverage in #avor of Lender wiil nat be impai�ed
<br /> in any way by any act, omissson or defau�t of Trustor or any nther persQn. 5houid th� Real Property be located in
<br /> an area des�gnated �y the Administrato�of�he Federai Emergency Management Agenc�r as a speciai fload ha�ard
<br /> area, Trustar agrees tn ab�ain and main�ain Federa� Flood insurance, if available, for the ma�cimum amount of
<br /> Trustar's cr�dit�ine and the fu[f unpaid principal �a[an�e af any prior�iens on fihe prop�rty se�uring the ��an, up ta
<br /> the max�mum poficy limits set under the National Fload lnsuran�e Pragram,or as otherwise required by�ender, and
<br /> tv maintain su�h insurance for�he term of the iaan.
<br /> Applicatian of P�oceeds. Trustvr'shall pr�mpt�y natify Le�rder of any lass or damage t� the Praperty. Lender may
<br /> mak� pruaf of lass if Trust�r fails #o do so ►rvithin f'tfkeen ��5} days o� the casual�y. V1lhethe� ar no� Lender's
<br /> securi#y is impai�ed, Lender may, at Lender's electivn, receive and retain the pro�e�ds o�any insurance and apply
<br /> the proceeds ta the r�;ductifln ofi th� lndebtedness, payment o�any I�en affect�ng fihe PrQper#y, or the res�ora�ion
<br /> and repair a�the Proper�y. �f Lender elects to app�y the proceeds�o restara#ion and repair, Trust�r sha�� repair or
<br /> replace the damaged or destroye� Impra�ements in a manner satisfac#ary tv Lender. Lender shall, upon
<br /> satisfactary pr��f ❑f su�h expenditure, pay or reimburse Trustor from the p�oceeds for the reasana�le c�st ❑f
<br /> �epair or restvrat��n �f Trus#or is n�t in defau�t L4�]d�C �h15 �]�ed af Trust. Any pr�ce�ds which have not been
<br /> disburs�d �rvithin 1$4 da�s after thei�- rece�p# and vvhich Lender has not camm�tted ta the repa�r or restora�ion o�
<br /> the Prope�y sha�3 be used first�v pay any amvunt vwing to Lender under�his Deed v�Trust,then to pay accrued
<br /> interest, and the remainder, if any, sh�ll be applied �o �he �rincip�l baiance �fi the lndebtedn�ss. It Lender ho(ds
<br /> any prvc�eds a�#er paymenfi in fuli vf �he �ndebfedness, such proceeds shal! be paid tv Trustor as Trustor'�
<br /> in�eres�s may appear.
<br /> �ompliance wifih Exis'��ng �ndebtedness. During �he perio� in whi�h �ny Existing Indeb#edness described belaw is
<br /> �n ��fect, camp�iance wi�h the insurance pro�isions contained in the instrument eviden�ing such Existing
<br /> �nd�btedness shall consti�ute complian�e with the 'tns�rance pra��sions under �his Deed of Trust, to the extent
<br /> compfiance with the terms �f this D�ed of Trust wvu�d constitute a duplication af insuran�e requ�rement. (f any
<br /> prac�eds fram the �nsuranc� become payable on loss, the pro�isians in�his Deed af Trust for di�isian af praceeds
<br /> shali apply on�y to thaf p�r���n of the p�oceeds nat payable ta the halder of the Existing Indebtedness.
<br /> LENi]ER'S ��PEN�7�TURES. i�F Trustar faiis �A} �o keep �he Property #re� �� all taxes, �ien�, s�cur��y inter�sts,
<br /> encumbrances, and oth�r c[aims, �B} ta pra�ide any requi��d insurance an the P�aperty, �C} ta make r�pairs to the
<br /> Property or to �omply with any ob�igation to maintain Existing Indebtedness in goad standing as required �elo�rv, then
<br /> Lender may do s�. �f any a��ion ❑r proGeeding is commenced that wou��i materia[ly aff�ct Lende�s �n�erests in th�
<br /> Pr�perty, �hen L�nder ❑n Trust�r's �ehalf may, but is not required ta, take any ac�ion tha� L�nder �el���es ta be
<br /> apprapriate to pra�e�t Lender's interests. AEi expense� incurred or paid by L�nder for such purposes wil� then bear
<br /> in�erest at the rate charg�d under the Credit Agreemen� from '�he da�e incurred ❑r paid by Lender tv �he date of
<br /> repaym�nt by Trustor. AI! suGh expenses w��I become a pa�t af�he i nde�atedness and, a� Lender's Qp#3on, wi I� �A} be
<br /> payable on�emand; �B} k�e added to the baiano�o�the�r�dit�greement and be appc�rtianed amc�ng and be paya�le
<br /> with any instal�ment payments�o become du�during either �'l} the�erm of any ap�licable insurance poiicy; or (�} �he
<br /> remaining term of the�redit Agreement; or �C} be treated as a balloon payment which will be du�and payable at the
<br /> Gre�iit Agreemen'�'s maturi�y. The Dced of Trusf also will secure paymen�af these amounts. The rights p�o�ided fc��in
<br /> this paragraph �hall i�in addit�vn to any ather rights ar any remedies ta which Lender may be�ntitled on account af
<br /> any defau��. Any suCh action by Lender sha�l nat be cons�rued as cu��ng the de�ault so as ta bar Lender �rom any
<br /> rcm�dy that i�o�herw�se would ha�e had.
<br /> VIrARRANTY; DEFENSE�F TlTLE. The foflowing provisians reiating to ownership of#he Property are a part of th�s Deed
<br /> of Trust:
<br /> `Tit�e. Trustar warran�s tha�: �a} Trustor holds gaod and marketable �i�Ie af r�cord �o �he Property in fee simple,
<br /> free and clear❑� all �iens and encumbrances v�her than those set farth in the Real Proper�y des�r�ptFon or in the
<br /> Existing lndebtedness s�c�iQn below �r in any#itl� insurar�ce polic�, �it�e repvrt, o�f�na!title vpinian issued �n fa�or
<br /> of, and accepted by, Lender in �onnectEon wifh this Deed af Trus�, and �b}Trustor has�he fu�� right, power, and
<br /> authority ta execu�e and deliver�his D�ed o€Trust t❑ Lender.
<br /> �3�fense of Title. 5u�jec� to �he �x�eptian in the paragraph above, Trustar warrant� and wil# fo�e�er defend the
<br /> �it1e to the Proper�y against th� law�ul claims o�al[ persons. [n the e��n� any action ar pra�ee�ing �s comm�nced
<br /> that questions Trustor's�i�I� or the int�r�st of Trus��e or Lender under this �eed of TruS�, Trustar shall defend the
<br /> actian at Trustor's exp�nse. Trus�or may �e the nominal party �n suGh proceeding, but Lender sha�l be enti�[ed �o
<br /> pa�ticipate �n #he proceeding and to be represented in #he p�oceedin� by counsel of Lende�r's awn choice, and
<br /> Trus�a�wi[I de[iver, �r cause to be delivered, ta Lend�r such instruments as Lender may reques�from t�me�o time
<br /> �a permit su�h pa€�icipation.
<br /> Gomplian�e 1Nith Laws, �rus�or warrants �hat the Proper�y and Trus#�r's use �f the P�operty camplies with a�l
<br /> exi��ing appli�able laws, flrd�nances,and regulations af goWernmenta�au#hari�ies.
<br /> 5urviva� vf Promises. All promises, agreements, and s�a��m�nts T�us�or has made in this Deed of Trust shalf �
<br /> survi�e the execufion and deli�ery ofi this Deed o�Trus#, sha[l be cc�ntinuing �r� na�ture and�hall remain �n full force
<br /> and ef�ec�unti�such t�me as T�ustor'��ndebtedness is paid in full.
<br /> EX[STING 11VDEBTED�ESS. The fallawing prvvisions cancerning Exis�ing [ndebtedn�ss are a part of this Deed of Trust:
<br /> Exis#�ng Lien. The �ien af �his ❑eed of Trust securing the Indebt�dness may he secandary and inferiar to an
<br /> existing [ien. Trustar express[y coWenar�ts and agrees�a pay, o�see�o the payment of, the Ex�sting �ndeb�edness
<br /> and ta pre�ent any defaul�❑n such indebfedness, any de�fau�t unde�the instruments evidenc�ng such indebt�dness,
<br /> or any default under any security dacuments for such indebtedness.
<br /> N❑ Nlodification. Trustar shall not enter �nto an� agreem�nt wi#h �he ha�der of any mor�gage, deed �t trus#, �r
<br /> o�her se�urfty agreement ►�vhich has prior�ty ❑ver this Deed of Trust by wh�ch �hat agreement is modified,
<br /> amended, extended, or renev�red wi�hout th� priQr written consent of Lende�. Trust�r sha�i neith�r �equ�st nor
<br /> accep�any�uture ad�ances und�r any su�h se�urify agreemen�withou�the prior written consent ofi Lender.
<br /> C�NDEMNAT1flfV. The following praW�sians relating ta conderr�nation pro�eedings are a part af this Deed af Trust:
<br /> Pra�eedings. �f any praceeding in candemnati�n is f�ed, Trustar sha�� �arompt�y notify L.�nder in writing, and
<br /> Trustor sha�i pr�mptly take such s�eps as may k�necessary�a d��end the ac�ion and ob�ain the award. Trustor
<br /> may be the nomi na1 party i n su�h proce�di ng, but Lender shal I be enti���d ta parti ci pat��n the pro�eed i ng and�❑be
<br /> repre�ented in �he proceeding by caunsel ofi its own choice, and Trus�or wili del��er ❑r cause�ta �e d�[���red to
<br /> Len�l�r su�h tnstruments and docum�ntation as may be ��que�fed by Lender f�am time fia tim� to permit such
<br /> participation.
<br /> appficat�on of Nef Proceeds. If a�l or any part❑�the Property is c�ndemned by eminent domain pra�ee�ings❑r by
<br /> any proceeding�r purchase in l�eu of candemna��on, Lender may at its elec�ian r�quire�hat al� or any partion nf�he
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