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2� 1 ��927 ❑EED �F TRU�T . , tConfinued� Page 3 � � � �he maximum policy lim�ts s�t under the Na�ional FIood I�surance Pro9ram� ar as o�herwise r��uired by Lender, and I �o maintazn such insurance-For�h�term o��he Ioan. � Appiication af Proceeds, Trustor shal� promp�ly nof�fy Lender o�F any loss or damage to the Property if �he estsmated cast of repair ar repIacement exceeds.�'[,OD�.��. Lender may make proof o�F loss i�Trus�ar fails�o d❑ so within �ifteen {15) days o�F the casuai�y, Whe�her❑r no� Lender's securifiy is impair�d, Lende�-may, a�Lender's �lectian, recei�e and re�ain �he proceeds ❑f any insurance and appiy -�he proceeds �o �he reduc�ion af -khe lndeh�edness. paymen� n� any Iien afFecfing th� Prop�rtyr or�he res�orafian and repair o��he Property. ��F Lender � elects �❑ appiy the proceeds fio res�orati�n and repaxt-, Trus�o�- shal! repa�r or repIace the damaged ❑r de�troyed � Impro��men�s �n a manner satisfactary to Lender. Lender shaIl� upon satisfactory proof af such expendi�urer pay ; or reim�urse T�us�ar�rom the p�oceeds for the reasanable cos� ❑f repair a�- res�ora�ion if Trus�or is no� in defaul� ! under �his Deed o�Trust. Any pra�eeds which ha�e no� �een disbursed wi�hin �$o d�ys after their receip� and ; which Lender ha� no�committecI to the repair-❑r �es�oration of the Property shall be u��d -�irst�a pay any amoun� ; owing�to Lender under this Deed o�Trus�,�hen fo pay accrued in�eresfr and the remainderr ��any, shall be applied ' fo th� principal balance of the �ndeb#edn�ss. If Lender haIds any proceeds after paymen� in full ot the Inde��edn�ss,such proceeds shaII be paid to Trus�ar�s Trus�or'�interes�s may appea�. Gompliance wifh Existing Indebtedness, During�he period in which any Exis�ing lndebtedness described beIo�rv zs � in effe�t, compliance wifh �he insuranc� pro�isions con�ained in �he ins�rumen� e�idencing such Existing Indebtedness shaiE �onstitute compIiance wi�h �he insurance prv�isians under fhis Deed ❑� Trust, t❑ the ex�ent compIiance with �he terms of thi� Deed vf Trus� wouId constifuf� a dupli�ation o�insurance requi�ement. jf any proceeds from �he insurance hecome payable on Iossf �he pra�isions in�his ❑eed of T�ust for di�isian of proc�eds shall app�y oniy to that portian ofi the proceeds nof payable�❑�he hoxder❑f the Exis�king Indeb�edn�ss. LENDER'S EXPEIIIDITURES. If Trustor �a�Is {A) �o keep �he Prope�#y �ree �f all faxes, jiens� security interes�sr �ncumbrances, and ❑ther claims, �B} �o pro�ide any requ�red insurance on the Prapertyr (C} tn make repairs �o th� Property or to compIy w��h any obligafion �o main�ain Ex�s�ing indeb�edness in good sfanding as required be�ow, then Lender may d❑ �a, I� any ac�ian or praceeding is cammenced `�ha� would materialIy affe�t Lender's in�eres�s in the Praperty, then tender ❑n Trus�or's behalfi may, bu� is not required to, take any action that Lender believes �o be approprFate to protec� Lend�rjs in�eres�s. all expenses incurred or paid by Lender �for su�h purposes wi11 then bear in��rest a� �he rafe charged under -the Ct-edi� Agreement �t'om the date incurred vr paid by Lender ta �he date ❑� �-epaymen� by Trusfor. AII such expenses wi[I b�come a part o�the l ndef�tedness and, at Lender's ❑p�ion f wiII �A} be payab�e on �emand� {B� be added �a the ba�ance o�the Credifi Agreement and be apportioned among and be payab�e wi�h any installmen�payments to become du�during eifher {'�} the term of any applicable insurance poIicy; or {2� the remaining term of�he Credit Agreement; or {C� be tr�a��d as a baI�oon payment which wiII be due and payable at�he Credi�Agreement's ma�u�ity. The ❑eed of Trus�also will secu�-e payment o�F thes�amnunts. The rights pro�ided far in �his paragraph shaIi be in addi�ion to any o�her rights ❑r any remedxes �o whzch Lender may be enti�ied on accaunt o� any defauit. Any su�h ac�ion by Lender shalI not be �ons�rued as �uring �he default so as to �ar Lender �rom any remedy fihat i�o�herw�se would ha�e had. WARRANTY; DEFENSE�F TITLE. The followin� pro�isions relating to ❑wnership❑�F the Property ars a park of fhis Deed ❑f Trus�: TitIe. Trustar-warran�s �ha�: �a� Trusfor hoIds good and marke�able �i�Ie o� r.ecord �a �he Property in f�e simpfe, �ree and clear of aii Iiens and encumbrancss other than those set forth in the ReaI Property descr�ption ❑r in the Exis�ing Indebtedness sectian below or in any�itl�insurance p�Iicy,ti�le report� or final titie opinian issued in fa�or of� and acc�pted by� Lender in conn�ction wi�h this Deed ❑f Trust, and �h� Trus�or has�he �uII righ�, �OW@C■ and au�hori�y to ex�cu�e and deIi�er this Deed of Trus�k�o Lender. - Defens� of Ti�le. Subject�o �h� excep�ion in �he paragraph abo�e� Trus�or warranfs and will �ore�er defi�nd the ��le ta the Properry agains�the lawtul claims ❑-�aII pe�sons. In �he event any act�on or proceeding is commenced �ha�ques�ivns Trustor's�i�ie vr�he interes�o�Trus�ee or Lender under�his Deed ❑f Trust,Tr-u�ta�-sha11 de�fend the a��ion a�Trus�or's expense. Trus�or may be �he nominal party �n such proceeding, but Lende�-sha!{ be en�i�led to participa�e xn the proceeding and ta be r�pr`esen�ed in the pr�ceed;ng by counse� ❑f Le�det-'s ❑wn chviae,t and Trus�or will de[i�er, or cause�a be de�ivered, �o L�nder such insfruments as Lender may request from time to time �o permit such partiaipation. Compliance With Laws. Trus�or warr-an�s that the Property and Trustor's use of the Property complies with all existing applicable Iaw�, ordinance�, and reguIa�ions of governmental authvrities. Sur�i�aI of Promises. AII prom'rses, agreemen�s, and statemen�s Trus�or has made in this Deed of Trust shaII survi�e the execution and deli�ery o�this ❑eed ❑�Trust, shall be con�inuin� in nature and shall remain in�ul[�orce and effe�t un�iI su�h time as Trustorrs lndeb�edness is paid in full. EXISTING 1NDEBTEDI�ESS, The foIIawing pro�isions cance�rning Ex�s�ing lndeb�edness are a part of this Deed ❑�Tru��: Existing Lien. The lien of �his ❑eed of Trust securing �he Indeb�edness may be secondary and inferior to an exi��ing l�en. Trustor expt'essly co�enants and agt�ees to pay, or-see�o�he payment of�the Exisfing Indeb�edn�ss and�o prevent any de�au��on such'rndebtednessr any defaul�under�he instruments evidencing such ind�b�ednessr or any de�aul�under any security documen�s for su�h indebfiedness. No ttil�adification. Trustor- sha[[ nvt enter info any agreement with �h� ha[der o-� any mortgage, deed of trust, or a�her secur-ity agreeme�t which ha� pt�iority a�er �his ❑eed of Trust by which tha� agreemen� is rr-�odi�ied, amended� extendedr or renewed wi�hout �he prior writCen con�ent of Lender. Trustor shall neither r-equest nor accept any future adrrances under any such secur�ty agreement without the prio�written consen�of Lender. G�NDEMNATi�N. The�Fo�lawing prv�isians rela�ing�o condemnation �roceedings are a par-t of�his �eed of Trust: Proceedings. If any pr`ocee�ing in cand�mnation �s �"rled, Trus�or sha[f promp�Iy natify Lender in wr1�ll�gr and Trus�or shal[ pramptiy take such steps as may be necessary to defend the actian and obtain �he award, Trusfvr may be the nominal party in such proceeding� but Lender shaji �e en�i�ied�o par�icipa�e in�h�proceeding and to be repres�nted in -�he proceeding by ��uns�I o� i�s own choice, and Trustvr wi11 deli�er ❑r cause -�o be deli�ered �o Lender such zns�ruments and documenta�ion as may b� �eques�ed by Lender �ram �ime f❑ �ime to permit such �ar�i�ipafion. Appticafion af iltet Praceeds. Ifi aII ❑t�any part❑��he Pt-operty is condemned by emxnent domain proceedings vr by any proceeding or pu�chase in lieu af condemnatian� Lender may a�j�s eIec�ion requir�tha�all Qr any parkivn afi the ne� proceeds af the awa�-d be appIied �o �he lndebtedness ❑�r the repazr ❑r resforati�n ❑f the Praper�y. The net proceeds of the award shali mean�he award after payment ot a�[ reasonah�e casts, expenses, and att�rneysr ��es incur-red by Trustee or Lender in connec�ion wi�h the cvndemna�ion, IMPDS�T��N QF TA�CES, FEES AND CHARGES BY ��VERNME�ITAL AUTH�RIT�ES. The fallowing prv�is�vns r�Iating j �o go�ernmental taxes�fees and charges are a part vf this D�ed of Trus�: Gurrent Taxes, Fees and Gharges. Upon r�quest by Lende�, Trustor shall execu�e such dvcuments in addi�ion to this �eed of Trust and�ake wha�e��r other ac�ion is requested by Lender to perfect and con�inu� Lender's lien on the Real Prop�rry. Trus�or �hali reimburse Lender for a[I �axes, as described beIvw, together wi�h alI expenses incurred in recording. per�ecfing �r can�inuing �his �e�ci of Tru��, inciuding without limita�ion all �axes, fees, documentary s�amp�,and o-�her charges�v�r�cor�iing or registering this ❑eed vf Trusf.