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2� 1 ��7944
<br /> ���� �� �����
<br /> ���� ��: ��������� ����������� ���� �
<br /> encumbrances, and o�her claims, {B} �a pr��i�e any required insurance ❑n the Property, ��y t❑ mak� repairs �o the
<br /> Propsrty or t� camply with any ❑bligation ta main�ain Exis�ing �ndebtedness in good standing as required bel�w, then
<br /> Lender may d❑ sv. [f any ac�ian or proGeeding is cammenc�d �ha� wauld m��eria��y aff�c� Lender's in�erests in �he
<br /> Property, then Lender ❑n �'rus�or's behalf may, bu� f5 nvt �equired fo, take any ac�ian �ha� Lertder bei�e�es �o be
<br /> appropriate �❑ protec# Lender's in�erests. A!1 e�penses incurred or paid by Lender ��r su�h purposes wiff then f��ar
<br /> interest at th� rate charged under the Credit Agr�err�ent �ram �he date incurred �r paid by Lender �o the da�e ❑f
<br /> r�payment by T�-us�or. All su�h expenses will become a part o��he fndeb�edness and, at Lender's optivn, will �A} be
<br /> payable �n demand; {6� be added �o the balance ❑f the Credit A�reem�n� and be apportianed among �nd be payable
<br /> with any installment paymen��to becom� due during either {�} �he term v�any applicable �nsurancE policy; or �.�} the
<br /> remaining term ❑�the Credi� Agreemen�; or {�} be treated a� a ballaan paym�nt v�rhich w�l! b� due and payabfe at the
<br /> Gredit Agreement's ma�urity.
<br /> VVARFi�4NTY; �]�FENSE 4F�'iTLE. The following pr��isi�ns relating to awnership o�the Prvperty are a part of this Deed
<br /> af Trust:
<br /> T�I�. Trus�Cor warran�ks �hat: �a} Trustor ha�ds good and rnarketable ti�le a� record �o the Praperty in �ee simp�e,
<br /> fre� and clear vf all �iens and encumb�ances Qther than �hQse s��t�arth in �he Reaf Pra�erty de�criptic�n ❑r in t�e
<br /> E�isting �nd�b�edn�ss s���ivn �elvw ❑r in any ti�le insuran�e policy, �itf� repart, �r final tit�� ❑pinion issued in�a�or
<br /> ��, and accepted by, Lender in connection with this ❑eed ❑�Trus�, and tby Trus�or has the fu�l right, pvwer, and
<br /> au�hority t❑execute and deliver�his �eed v�r Trus��v L�nder.
<br /> Def�ns� o�T'i�le. Subject �� �he ex�eptian in the paragraph abo�e, Trustar vvarrants and will �ore�er de�end the
<br /> �i�le to�he Prop�er�y asains��he law�ul c[aims�f all persans.
<br /> EXISTIN� IND�BTEDNESS. 7he fol�owing pro�isivns concerning Exis�ing Indeb�edness are a part Qfi�his D�ed af�`rus-�:
<br /> Exis��ng Li�n. The lien of this ❑eed ❑� Trust ���uring the lndeb�ednes� may be secvndary and in�erior to �n
<br /> exis�ing li�r�. Trustor �xpressly c��enants and �grees to pa�y, or see to �he payment o�, the Existing Indeb�edness
<br /> and to pr��ent any de�aul�❑n such indeE�tedness, any de�faul�under the instrumen�s ��idencing such indea�tedness,
<br /> ar any d�faul�C under any se�uri�y documen��for such indebt�dness.
<br /> EVENT'S �F DEFA�ILT. Trustor will be in default under this Deed of Trust if any of the �allowing happen: �A} Trustor
<br /> cammi�s fraud ar m�kes a m�terial misrepresen�at'ton �t any �irne in c�nneGtion wi�h �he Credit Agr�ement. This Gan
<br /> in�lude, for example, a false statemen� abaut Trus�or's incvme, assets, �iabili�ies, or any other aspects af Trusto�'s
<br /> financi�l condition. �B) Trus�or does na�mee��he repayment�erms o�the Credit Agreement. �C} Trustor's ac�inn vr
<br /> �nac�ian ad�ersely a#fects �he colla�era! ar Lender's rights in #h� �o�la�eraR. This can tnclude, for example, failure �o
<br /> maintain required insurance, wa�te nr destruc�i�e use ❑f�he d►rvelling,failure to pay taxes, death of ali persvns liabte on
<br /> th� a�coun�, trans�er v�f title or sale af the dwelling, creation af a senior lien vn �he dwelling without Lender's
<br /> �ermission, fioreclosure �y�he ho��ler❑�another lien, or fihe use o��unds or the dwefling�vr prohibited purposes.
<br /> RCGHT'� AND R�[ViED1E5 ❑�! QEF►�ULT. Upvn �he oc�urrenGe of any EWent of L�e�aul� under any indebtednes�. ar
<br /> shauld Trustvr�ail�Co camply tinrith any of Trustor's vbliga�ians und�r this ❑eed d�Trus�,Trustee nr Lender may e�ercise
<br /> any one or rnore of�he�ollowing rights and remedie�:
<br /> Acceler��ivn Upcan Qe�aul�r;�4ddi�ional Reen�dies. If any ��en�af Qefaul�occurs as per�he t�rms o�the �redit
<br /> Agreement se�ured hereby, L�nder may declare all lndebtedness secured lay�his Deed o#Trust to be due and
<br /> payabl� and the same sha�� �hereupan b�come due and payaE�l� without any pr�sen�ment, demand, prot�st vr
<br /> notice o�any kind. Thereafter, Lender may:
<br /> {a} Either in persan ar by agen�, with ❑r without bringing any ac#+on or proceeding, �r by a receiWer
<br /> appainted by � court and withaut re�ard �o the ad�quacy o�its se�urity, en�Cer upon and ��ke pass���inn
<br /> v�the Proper�y� vr any part thereof, in its own name or in the name a�Trustee� and da any acts which it
<br /> deems necessary or desirable xa preserue the �alue, marke�a�ility ❑r rentability v��he Proper�yr or part o#
<br /> �he Property or +nterest in �he Praper�y; in��ease��e incame �rom the Property or prv�ec�fihe securi�y ❑f
<br /> the Property; and, wi�h or withvut taking possession of the Property, sue �v� or �therw�se �olfec�the
<br /> ren�s, ES5LIES� and pra�its vf�he Proper#y, includin� �hose �ast due and unpaid, ant� ap�aly �he same, less
<br /> costs and e�penses o�aperation and co��ec�ion attorneys' #ee�,to any indebtedness seGured by this Geed
<br /> af Trust, aEi in such vrder as Lender may determine. The entering upon and �aking possession ❑f the
<br /> Property, the �olle�tion v� such �ents, i�5L1�5 and pro�its, and �he applica�iorr th�reofi shall no� cur� vr
<br /> wai�e any de�aul� vr notic� of defaul� under�his ❑eed of Trust❑r in�a�ida�e any act done in response to
<br /> such de�ault or pursuant to such nntice vf de�Faul�; and, not�nri�hstanding th� continuance in pvssessian af
<br /> the Property vr �he co�lec�ion, recei�� and appliGa�ian ❑� ren��, issues or pra�its, Trus�ee or Lend�r shall
<br /> i�e entit�ed to exercise e�ery righ'� pro�ided far in the Credi�Agreement ❑r the Related ❑acuments ❑r by
<br /> law upon the o�currence of any e�ent vf de�ault, including the right t❑exer�ise the pvwer vf sa�e;
<br /> {b} Commence an actian to �oreclose this ❑eed a�Trust as a mor�gage, appvint a recei�er or speci�ically
<br /> �nforce any❑��he co��n�n�s herea�� and
<br /> {c} Deli�er�ti Truste�a written declaration❑�default and demand for sate and a wri��en no�ice o#default
<br /> and efectian t❑ cause Trus�or's inter�st in the Pr�perty tn be sold, �rhich nvtice Trus�ee shall cause�o be
<br /> duly�iled far r�card in the�ppropriate❑��Fices vf th� �aunty in which�he Prop�r�y Es Ia�a�ed; and
<br /> td� 1fVith r�spect�fl aEf or any part o�the Person�i Property, Lender shall ha�� all the rights and remedies
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