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<br /> ��E� oF TRusT
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<br /> �CDt�tIt�u�d} Page 3
<br /> �he maximum policy Iimits se�unde�r the National Flaod �nsurance Program�ar as atherwise required by Lender� and
<br /> to main�ain such insurance�or the��t-m of fhe loan.
<br /> App[ication of Proceeds. Trusto� shall promp�Iy natify Lender ❑� any Io�s ar damage to the P�vperty if �he
<br /> estimafed cost❑f repair vr r�piaGement exceeds �'1,���,��. Lend�r may make proof of loss if Trustor f�ijs�o do
<br /> s❑ within�Fifteen {'i 5� days o�the casualty. Whe�her❑r no�Lender's secu�-ity is impa�red, Lende�-may� at Lender's
<br /> elec�ion, recei�e and retain �he pt-oceeds ❑� any insuran�e and apply �he proceeds to the reduc�ion of the
<br /> �ndebtedne�sr paymen� of any lien af#eGting the Property� or the r�sta�atian and repair of the Praperty. [f Lender
<br /> elec�s to apply the proceeds to res�ora��on and repair, Tru�tor shall repair or repIace the damaged or des�royed
<br /> lmpra�emenfs in a manner satisfactory�o Lender. Lendet� shajj, upon satis�ac�vey proat of such expenditure, pay
<br /> ar reimburse Trust�r from �he proceeds far the reasonabie cos� o�r repair or restoration i�Trus�or is not in defau��
<br /> under this Deed af Trust. Any proceeds which ha�e not 4een disbursed wi�hin �i 8❑ days af�er fheir t�eceip� and
<br /> whi�h Lender has not Gomm�t�ed to the repair ar re��aration of the Froper-�y shaII be used firs�to pay any amount
<br /> ow�ng�o Len�de�under�his �eed af Trust,�hen ta pay accrued interes�, and�he remaind�r, i�any, shall be applred
<br /> �n the principal balance of the Indebtedness. !f Lender holds any praceeds after payment in fu11 ❑f �he
<br /> [nde�tedness, sucf� proceeds�hall be paid to Trustor as Trustor's inferests may appear.
<br /> GompIiance with Existing Indebtedness, During �h� periad in which any Exisfing Ir►dehtedness descr�Xbed be�aw is
<br /> in e�fec�� �ompliance wi�h the insurance provisians co�taxned in the instrument e�idencing such Existing
<br /> Indebtedness shall cons�itute compliance wi�h the insurance pravisi4ns under this Deed of Trust, �t❑ the ex�ent
<br /> compliance with fihe terms o�this Deed of Trust wauld canstifute a duplicatian o� insuran�e requiremenfi. lf�any
<br /> prac�eds firam the insurance become payable ❑n Coss,�he pro�isions in�his Deed of Trus�#or di�ision of pro�eeds
<br /> shall apply onjy to�hat partion ❑f�he proceeds not payable to the holder of�he Existing lndebtedness,
<br /> L�1VaER'S E?�PEND�TURFS. It Trustor �atls {A� ta keep the Prope�t�y �ree o� ad� �axes, Iien�, securi�y interes�s,
<br /> encumbran�es, and afher c�aims■ �B} ta pro�ide any required insurance on the Property, {C} �o mak� repairs to the
<br /> Praperty or to compiy wi�h any obliga�ion fo mainfain Exist"rng lndebtedness in goad s�anding as required belaw, then
<br /> Lende�- may do sa. i� any ac�ion or pro�eeding is �ommenced that wnuId ma�erially affect Lender's "rn�erests in the
<br /> Pro�ertyr ��en Lender- on T�Ustar's be�a!€� may, but is no� required tof �ake any acfion �hat Lender i�elie�es to be
<br /> appropriate �o pratecf Lender's in�er�sts. All expenses incurred or paid by Lender far such purposes wi�� then bear
<br /> ihteres� at �he rate cha�ged under the Gredifi Agreement from �he da�e incurred or paid by Lender to the date of
<br /> repayment by Trustvrti AII such expenses wiIl became a part of the indeb�edness and, at Lender's opf�an, wilI �A}' be
<br /> payab�a �n demand; �87 be added to the balance of the Credit Agreemen�and be apportioned among and be payable
<br /> wi�h any ins�allment payments to b��ome due during either {`i� �he term af any applicable insurance poj�cy; ❑r �2} �he
<br /> remaining term of the Credit Agreemenf; or (C) 1ae trea�ed as a balloan payment-�vhich wi�� be due and payab�e a��he
<br /> Credi�Agreemen�'s maturity. The Deed of Trust aIso will secure paymenfi vf these amoun�s. The righ�s prorrided fo�in
<br /> �his,paragraph shall be �n addition fo any other rights ❑r any remedies to whxch Ler�der may be entitled �n accoun� of
<br /> any de�auIt, Any such a�tian by Lender shall not be cons�rued as cur�ng �he detaul� s❑ a� �o bar Lender from any
<br /> remedy�ha�r�a�herwise would have had. �
<br /> WARRANTY;DEFENSE DF TITLE. The�oi�owing pro�isions reIafiing�o ownership of�he Property ar� a part❑�this �eed
<br /> of Trust:
<br /> Tit�e. T�us�nr warrants �ha�: {a} Trustor holds g�ad and marke�able ti�le ❑f re�ord to the Praperty in fe� simp�er
<br /> f�ee and c�ear af ai[ jiens and encumbrances o�her than those sef forth in the F�eal Properry descrip�ian ar in �he
<br /> Existing Indebtedness section belaw or in any titIe insurance poIicy,titEe �epor-t, or#�nal title opinion issued in�a�or
<br /> ofr and accep�ed by, Lender in cannec�ian wi�h this �eed ❑�Trust, and {b� Trustor has the �rull right� powe�, and
<br /> au�h�ri�y�❑ exe�u�e and deIi�er th�s Deed nf Trust�o Lender,
<br /> Defense vf TifIe. Subjec�to �he excep�ion in the pa�-agraph abo�e, Trustor warran�� and wi!! forev�� defend �he
<br /> �i��e t❑�he Property against the Iawfut claims of al� persans, Ir� the even�any action ❑r pro�eeding is camm�n�ed
<br /> that quest'ron�Trus�or's ti��e at-the interes�❑fi Trustee or Lender under this ❑eed of Trustr Trustor sha11 de�end the
<br /> ac�i�n a�Trus�tor's exp�nse, 7't-ustor may be the nom'rnal party �n such proceeding, but Lender shaii be en�jtied to
<br /> participate in the proceeding and tv be represented in �he pra�eeding by counse! of Lender`s vwn choice, and
<br /> �rustor will cleIi�er, or cau�e to be deIivered� to Ler�der suc� �ns�rurr�ents as Lender rr�ay request frvm �it�ne to�ime
<br /> -�o permi�su�h parti�ipation.
<br /> CompIiance Wifh Laws. Trusfior warran�s -tha�the Property and Trustor's use of the Property comp�ies w�th alf
<br /> existing app�icable laws, ord�nan�es,�nd regulatia�s ❑f go�et-nmen�aI authorities.
<br /> Survi�ai ❑f Promises. Ait promisesr agr�ementsr and s�atemen�s Trus�or has made in �his ❑�ed of Trus� shall
<br /> sur�i�e�he execu�ian and deli�ery o�this Deed ❑�Tt-ust, shali be con�inuing in na�u�-e and shall remain in�uli forc�
<br /> and effect until such time as T�us�o�'s lndeb�edness is paid in�ull.
<br /> EXlST1NG ICI[DEBTEDNES�. The follawing pro�isions cancerning Exisfing Indebtedness are a part of tl��� Deed ❑f Tt-ust:
<br /> Existing Lie�. The iien o� �his Deed of Trus� seGuring �he indebtedness may be se�ondary and �nfe��ot- to a�
<br /> existing Izen. Trus�or expressly �o�en�nts and agrees�n pay� or see to�he paymen�o�, �he Exis��ng lndebted�ness
<br /> and to pre�ent an�de�au�t on such indebtedness, any default unde�-the instruments e�idencing such indebtedness,
<br /> ar any defaul�under any security dacuments for such rndebtedness.
<br /> No Modifica�ion. Trustor shall not enter info any agreement with �he ha�der o� any mortgage� deed o�trust, or
<br /> other securi�y agreement which has priority ❑�er this Deed ❑f Trus-t by which �hat ag�eement is madified,
<br /> amended, e�ctended, ar renewed wi��out the prior written consent of Lender. Trustor shal� neither request nor
<br /> accept any future ad�ances under any such security agreement wi�hout the p��or written consen�o�Le�der,
<br /> C�NDEMNATIflN. The fo��owing pro�isions rela�ing�o �ondem�ation proceedxngs are a part❑�this Deed o�Trus�:
<br /> P�`oceedings. If any proceeding in candemnat�ion is �t'led, TrUstar shal� �rampt�y nc�tity Lender in writ�ng� and
<br /> Trus�or shall promptly take such s�eps as may he necessa�y to det�nd fhe action and ob�ain �he award. Trus�or
<br /> may be the nominaj party in such proceeding, bufi Lendet�shal! be enti�led to participa�e in�he proc�eding and t❑ be
<br /> �epresented in the proceeding by counsel o� its ❑wn choice, and Trus�or will deliver ❑�- cause to. be delive�ed fio
<br /> Lender suGh insfruments and dacumentat'tan as may be �equesfed by Lender from t�me ta time to permit such
<br /> participation.
<br /> AppliGation of Net ProcBeds. I�aI� ❑r any part o�F the Praperty�is condemned by eminen�damain praceedings o�r by
<br /> any proceeding or purchase in lieu ot condemna�i�n, Lender may a�its eie�tion require tha�all or any pvrtion o#�he
<br /> net proGeeds of�h� award be applied ta the indebtedness or the r�pair ❑r restara�ion ❑f �he Praperty, Th� net
<br /> proceeds of fhe award shall mean�he award after payment o�a�I reasonabl� cost�, expenses, and atxorneys' fees
<br /> incurred by Trustee or Lender in connection with�he aondemnation.
<br /> 1NiPOS�TIQ�V �F TA�CES� FEES AND CHARGES BY GDVERNMENTAL AUTH��RITIES. The fol�owing provisio�s rela�ing
<br /> �o go�ernmental fiaxes,�ees and �harges are a part of this Deed of Trust:
<br /> Current Taxes, Fees and Gharges. Upon reques� by Lender, T�'ustar shall �xecu�e such documents rt� addition�o
<br /> �his Deed of Trust and take whate�er ofher ac�ion is requested by Lender�� perfiiect and con�inue Lender's iien on
<br /> t�e Rea[ Property, Trustar shafl r�imburse Lende� for atl taxes, as desct�ibed be�ow, together- wit� a!� expe�tses
<br /> incurr�d in recarding� perfecting or cantinuing this Deed ❑� Trustr including without limitatian aII taxes, �eBSr
<br /> documen�ary stamps, and other charges for recording or t�egis�ering this Deed a�Trus�.
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