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2� 1 ��7�89
<br /> D�Fa �F T��J�T
<br /> Lvan Nv: ��'1��8�23 tContinued} Page 4
<br /> �he proceeds �v the re�uc�ian o��Che fndeh�edness, payment Qt any lien aff�ctin� xh� Praperty, or �h� r�s�tora�ion
<br /> and repair v���e Prvp�rty. I� Lender elects tQ apply �he proce�d� �v r�sto�a�ion and repair, Trustor shali repair or
<br /> replac� �he damaged vr des�rv}�ed lmpraW�ments in a manner satis#a��ory �� Lender. Lend�r shall. upon
<br /> sa�isfac�o�y proaf af such expenditure, pa}� or reim�urse Trustor �ram fihe proceeds �ar �he reasonable cvst a�
<br /> repair or rest�ration i� Trustar is nat in de�ault under �hiS Deed a� Trus�. Any prviceeds which ha�e nvt been
<br /> dishu�sed wi�hin 18� days a�ter their receip� and which Lender has nat �vmmi��ed to �h� repair ar restQra�ian o�
<br /> the Prvpe�-�y shal� b� used �irs��v pay any amvun� owing to Lender und�r this i]�ed vf Trus�, th�n to p�y accrued
<br /> in�etes�, and the remainderr i� any, sha[I be appli�d �a th� prinGip�l balan�e ❑t the Indebtedness. lf Lender hold�
<br /> any prac�eds after paymen� in �u�1 vf th� lndeb�edness, su�h proceeds shall be paid to Trus�dr �s Trustor's
<br /> in�eres�s may appear.
<br /> Cvmpliance with Existing lndeb�edness. auring the peri�d in which any Existing Endebt�dness des�ribed beiow is
<br /> in effect, compliance with th� insurance prvvisivns contained in the instrument e�idencing suGh Existing
<br /> Indeb��dness sh�ll constitute �vmpliance with �h� insurance pr��i�ivns under this C�eed o# Trust, t❑ �h� extent
<br /> compfiance v►ritF� the �erms o��his De�d vf Trus� would cvns�i�u�e � duplication o� insuran�e requirement. lt any
<br /> pr�ceeds �Frtam �he insurance becorne payable vn lossr �he prv�isi�ns in �his Qe�d v�F Trust�ar di�isian ❑� proceeds
<br /> shalf appEy❑niy ta tha�par�ian ot�he praceeds nv�payable to�he holder�f th� Exis�ing lndeb�edness.
<br /> LENDER'S E�PENDITURES. I� Trustvr �ai1s {A� to keep the Prop�rty �ree of a[[ �axes, liens, secur�ty in�erests,
<br /> enGumarances, and other claims, �B} ta proWid� any requ�red insurance an the Property, �C) to make re�aairs to the
<br /> Prap�rty or�v �r�mply wi�h any �hli�a�ion �o maintain �xiS�ing Indeb�edne�s in gaad standing as required b�lvw, then
<br /> Ler�der may do sa. If any ac�ion ar praceeding is commenced �hat wvuld mafierially ����c� Lender's in��r�s�s in the
<br /> Property, then Lender vn Tru��vr's beha�-� may, but is no� required ta, take any ac�ion that Lender befieWes �a be
<br /> appropriate �Ca prot�ct Lend�r's interes�s. Ail ea�penses incurred vr paid by Lender �ar such purposes wi!! then bear
<br /> in�erest at th� rate charged under the Nvte �rom the date incurred or paid hy Lender �o the date af re�ayment by
<br /> Trustc�r. Ali su�h expenses will be�ome a part v��he [ndehtedness and, a�t Lender's op�ion, wii! {A� be payable on
<br /> demand; {B� be added to the balanc� af '�he Nv�e and bs appor�ioned amang and be payable with any ins�alEment
<br /> paym�nts �a 1�ecome due during ei�her {�� th� term n� any ap�li�abie in�urance po[Ecy; ar �2� �he remain�ng t�rm o�
<br /> the Note; ar {�f be trea�ed as a b�lloon payment which wili t�e due �nd payab�� at�h� N�te's maturEty. The Dsed of
<br /> Trust also v►rE�E secur� paymen��o�these amaun�s, 7he rights provid�d �Qr in �his paragraph sha�1 �e in addition to any
<br /> vthe� rights or any remedies t� which Lender may be en���led on a�caunt of any de�€ault. Any such activn by L�nder
<br /> shall nvt be cor�strued as curing the d�faul�sQ as to bar Lender�ram any remedy that it��herwise v+rou[d ha�re had.
<br /> WARRANTY; DEFENSE�F�ITLE. Th��Fvllawing pra�isions re�ating to❑wnershEp a�the }�rap�r�y are a part of�his Deed
<br /> v�Trust:
<br /> Ti�le. Trus�ar warrants that: {ay Trus�Qr halds good and marketable title of reGcard tn the Praper�y in fee simple,
<br /> free and ciear �� al) [iens �nd encumbrances oth�r than those set �orth in the Real Property descriptian ❑r in �he
<br /> Existing Indebtedness section b�law or in any fii�le insuranGe policy, �i�le re�vrt, �r�inal tit[� apinion issu�d in fa�ar
<br /> of, and acc��ted by, Lender in connec�ion with�his ❑eed vf Trust, and �b� �rustc�r has the fut� right, pvwer, and
<br /> au�harity ta�execute and de[i�er this Deed v�Trus��o Lend�r.
<br /> De�ens� of i"i���. Subject�v �he �xcep���n in �h� paragraph abra��, Trustar warran�� and will for��er de�end the
<br /> title t❑�h� Pr�perty agains��he lawful c�a�ms t��afl persons. In tF�e e�ent any ac��on ❑r proceeding i� cammen�ed
<br /> �ha�que��ions Trustor's �i�le or�he interes�o�F Trus�ee or Lender under this D��d v�f Trust, Trus�or�hali defend the
<br /> action at Trustor's expense. Trustor may be �he nominal party in such prviceeding, but Lender sha�E be ent�tled to
<br /> par�ic��ate in the proceeding an� tv ae repres�n�ed in the proceeding by caunsel of Lender's ❑wn choice, and
<br /> Trustor wiil deli�e�, ar cause�o b� d�li�ered, t� Lender such in�truments as Lend�r may request�ram �ime �v time
<br /> to permi�such p�rticipativn.
<br /> Compliance With Laws. Trust�r warrants �ha'� the Pra�erty and Trustar's use v� �he Property �omplies with all
<br /> exis�ing applicab�e laws, ordinances, and regulations of go�ernmental authorities.
<br /> Surviva� vf P�vmises. All promises, agreemen�s, and s�atements Trustvr has made in this [7eed of Trust shall
<br /> sur�i�e the e�ecu�ian �nd deli�ery❑�f this Deed of Trust, shall be con�inuing in na�ure and shall remain in fuEl fiarce
<br /> and e��ect until such time as �qrraw�r's Indebtedness is paid in fu[�.
<br /> E�CISTINC IN�EBTEDNESS. The��a1lvwEng provisians cancerning Exis�ing lndebtedness are a part o�fihis D�ed Q�Trust:
<br /> Existing Lien. The lien ❑� this Deed o� Trust securing �he lndebtedness may be secondary and inf�rior to an
<br /> ex�s#ing lien. Trustor �xpressly co�enants and agrees to pay, ❑r see to the pa�men�o�, the Existing Indebtedness
<br /> and ta pre�ent any defau��❑n such �ndebtedness, any defaul�under the instrumen�s e�idencing �u�h indebtedness,
<br /> or any de�ault under any secu��ty dacuments for such indebtedness.
<br /> N� N[odific��ian. Trustar shai� no-t enter inta any agreement with �he holder ❑� any mort�age, deed Q'� �rust, o�
<br /> ather sEcuri�y agreemen� whi�h has priori�y v�er #his Qe�d ❑� Trust by which that agreemen� is modifiied,
<br /> amended, extended, ar ren�wed withou� �he prior written �onsen� ❑� Lender. Trustor sha[I nei�her request n�r
<br /> a�cep�any future•ad�ances under any such security agreemen�wi�haut the prior written cansent o#Lender.
<br /> C�NDEMNATi�N. The�o��owin� pro�isians re�a�ing�o condemnativn proc��ding� are a part vf this peed af Trust:
<br /> Proceedings. �� any praGeeding in �ondemnatian is �iled, Trus��ar �hall promptly nn�i�y Lender in �rvri�ing, and
<br /> Trustor sh�t� promptiy take stach steps as may be necessary tv de�end the aGtion �nd obtain the award. Trustor
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