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2� 1 ��794�
<br /> DEED �F TRUST r
<br /> ��ontinued} Page 3
<br /> to main�ain such insurance���the te�m of�th��oan,
<br /> Application of Pro�eeds. Trustor shall promptly n���fiy Lender ot any loss or damage �❑ the Property i� fhe
<br /> es�imated cast o�F repair or repIacemen�exceeds $'��ooa.00. Lender may make proof of loss if Trus�or�airs to do �
<br /> so wi�hin�if�een {�5} days of the casua�ty. Wh��her❑r no�Lende�'s securi�y is impaired, Lender may� at Lende�'s
<br /> elecfiion, recei�e and retain the proceeds o� any insurance and appIy the proc�eds �o �he reduction o� the
<br /> lndebtedness, payment of any fien a�F-Fecting the Praperty, or the res�oratian and �epair of the Property. Zf Lender-
<br /> elec�s �a appIy the proc�eds tn restara�ion and �epair, Trustor shall repa[� ❑r repIa�e the damaged or destroyed
<br /> lmpro�ements in a manner sa�isfac�ory�ka Lender. Lender shaII, upon sa�is�acfiory proo�❑f suc1� �xpenditurer pay
<br /> ❑r reimburse Trus�or�rom �he praceeds �or the reasona�Ie cos� ofi repair or resfora�ion if Trus�or is no�in de�aul�
<br /> unde�-�his Deed o�F Trust. Any proceeds whiah have na� been disbursed wi�h'rn 'i 8� days aft�r�their receipt and
<br /> which Lender has na�committed to fhe repair ar restorati�n ��th� Property sha!! be used f'rrs�to pay any amoun�
<br /> ❑wing�o Lender under�his Deed ot Trust,then t❑ pay a�crued interes�, and the remainder, i�any, $hai� be applied
<br /> �o �he principaI balance af fhe Indeb�edness. I� Lender holds any proce�ds after paymen� in fulI of �he
<br /> Ind�bfedness,such proceeds sha�l be paid�o Trustar-as Trus�ar's in�erests may appear.
<br /> �ompIiance with Existing Indebtedness. Du�ing the p�riod in which any Exisfing Cndebfedness described beIow is
<br /> in �fFec�, campliance wi�h �he insurance pro�isions contaEned in �he ins�rumen� e�idencing such Exist�ng
<br /> Indeb��dness shalf canstitufie campIiance w��h �he insurance pro�isions under this ❑eed o-� Trus�, �❑ the extent
<br /> compliance wi�h �he -�erms ❑f�his Deed ❑�Trus� wouId consfi�u#e a duplication ofi insurance requirement, If any
<br /> proceeds from�he �nsurance become payable an Iass, the pro�isions in�his �eed of Trus�for di�ision of proceeds
<br /> shai�apply onIy t❑thafi portzon of the proceeds no�payable�o�he holder of the Exisfrng lndeb�edness.
<br /> LENDER'S EXPE�IID[TURES. If Trus�or- fia�Is [A7 �� keep the Pt�operty �ree o� aII taxesr I�ens� secut�ity in�er-es�s�
<br /> encumbran�es� and o�her claims, {B} �a provide any required insurance on fhe Praperty, {C� to make repairs t❑ �he
<br /> Proper-ty or�o comply with any obIiga�ian to main�ain Exis��ng Indebtedness in good s�anding as required beIow. �hen
<br /> Lender may do sv. I� any ac�ion or praceeding is aammenced �hat would materially aff�c� Lender's interests iri the
<br /> Property� then Lender ❑n Trustor's behalf may, bu� is not required to, �ake any acfiion �haf Lender belie�es �o �e
<br /> appropria�e to prote�t Lender's interes�s. AII expenses incurred or paid by Lender �or such purposes wijj then bear
<br /> in�eres� af �he rate charged under �he Credi� Agreement �rom �he da�e incurred ❑r paid by Lender to the date o�
<br /> repaymen� by Trustor. All such expenses wi�i b�conne a par�o-��he lndebtedn�ss and, a� Lender's optivn� wili {A} be
<br /> payable ❑n demand; �B� be added �o �he baIance ❑�the �redit Agreement and be apportianed among and be payable
<br /> with any instaIlmenf paymen�s to become due during either �1} �he�erm ❑f any applicable insurance poiicyr or ��f the
<br /> rema�ning term ❑�the Credit Agreement; or� �C� be�rea�ed as a bal�oon paymen�which w�lI be due and payable a�the
<br /> Gredi�Agreement's maturity, The Deed o�Trust ajso wil� secure payment❑fi�hes� amvunfs. The righ�ts pro�ided for in
<br /> �his par-agraph shalI be in addi�ion�❑ any other righ�s or any remedies to which Lander may be en�i�led ❑� accou�t o�
<br /> any de�aul�. Any such action by Lender shail nat be cons�rued as curing �he de-�auI� so as to bar Lender from any
<br /> remedy tha�i�o�he�wise wauid ha�e had.
<br /> VIJARRANTY; DEFENSE�F TITLE. The fo!lowing p�'o�isions reIa�i�g t❑ ow�ership o�the Pt-operty are a part of th�s Deed
<br /> o�Trust:
<br /> Title. T�ustor vtirarrants tha�: �a� Trustar holds good and mar�te�ab�e title ❑� record �o the Properry in �ee simple,
<br /> �ree and clear af al� [iens and encumbrances othe�-than �hose set fior�h in the Real Prapet'ty descr�iption a� in the
<br /> Exis�ing �ndeb�edness section belvw o�r i� any ti�Ie insurance�paIicy�tifle repv�tr vr final fitIe❑pinion issued in fa�or
<br /> o�F, and accepted by, L�nder in connec��on wi�h this Deed at Trust, and �b} Trus�or has fhe�u[l r1gl�tr powerr and
<br /> authori�y to execu�e and deli�er this Deed o�Tt-us�to Lender.
<br /> Defense of TitIe. Subject to �he e�ccept�on in �he parag�aph abo�e, Trus��r wa�ran�s and wii� �ore�er defend the
<br /> �jtle�o the P�'operty against�he lawfui o�aims o�a1� persons. In�he e�enf any action �r proc�eding is cammen�ed
<br /> that questians Trus�or'��i�le or the in�eres�❑�Trus�ee or Lender under this Deed o�T�us�,Trustar shaII de�Fend the
<br /> ac�ion a�Trustor's �xpense. Trustor may be�he �omina� pa�ty in such proceeding; but Lendet-$ha�� be ent��Ied to
<br /> participa�e in the p�oceed�ng and -�o be represen�ed in fhe proceeding by counsel of Lende�-'� own choice, and
<br /> Trus�or wiII deli�er, ot�cause to be deli�e�-ed, t❑ Lender su�h ins�ruments as Lender may �-equest�rom time�o�ime
<br /> �o permi�such participafiian.
<br /> Cvr�pfiance With Laws. T�ustor warrants tha��he Pr�perty and Trus�ar's use of the Properky camp�ies with aII
<br /> exis�ting applicable laws� ot-dinances, and regulations o�go�ernmental authorities.
<br /> Survl�aI of Promises. AI� p�'omises, agreements, and sta�ements Trus�or has made in �his ❑eed o� Tt'us� shaI!
<br /> sur�i�e the e�cecution and de�i�ery ofi this Deed o�f Trust, shail be continuing in na�ure and �hall remain En �uII for-ce
<br /> and effecf until such time as Trus�or's lnd�b�edness�s paid in fu[i. .
<br /> EX�STING INI3EBTEDNE�S, Th��o!lowing pra�isian� concerning Ex�s�ing lndeb�edness are a par�o-F�his �eed o�Trust:
<br /> Existing Lien. Th� iien vf this Deed af Trus� securing �he lndebtedness may be seconda�-y and �nferio�- to an
<br /> exis�ing Iien. Trustor e�cp�essly correnan�s and agrees�o pay� or see tv`the payment c��,the Exis�ing lndebtedness
<br /> and�o pre�en�any de�auIt❑n such indehted�ess� any de�ault under�he instruments e�idencing suGh indeb�edness,
<br /> or any de�aulf under any securi�y dacumen�s far such indeh�edness,
<br /> No Modifcafion. Trusto� sha�� no`� enter xnto any ag�eemen� wi�h �he hoIdet- of any ma�fgage, deed o� �t-us�, or
<br /> ❑�her securi�y agreemen� which has priarity aver �his aeed of T�us� by which �ha� agreement is modified�
<br /> amended, extended, or renewed wi�hout �he priar writ�en consen� o�F Lender. Trus�or shali neither request nor
<br /> accep�any fu�ure ad�anaes under any such security agreemen�wifhvut�he prior written cansent of Lender. �
<br /> ��NDEMNATI�N. The foIIawing pra�is�ons reiating�a condemna�ion proceedings are a part o#this Deed af Trus�:
<br /> Pro�eedings. �� any praceeding in condemna�ian is �iled, Trus�or shall promp�Iy nofify Lender in wri�ing, and
<br /> Trus�or sha�I promptly�ake such steps as may be necessary t❑ defend the acfion and obtain the awa�d. Trustor
<br /> may he�he naminaI parry in such pr`oceeding, bu�Lender shall be entitled�o participate in the proceeding and to be
<br /> represen�ed in �he proceeding by counsel �f i�s own �hoice, and Trusfor wiII deli��r or cause rto be deli�ered ta
<br /> Lender such instruments and documenta�ian as may �ae reques�ed by Lender from time �o �ime �❑ permit such
<br /> participation.
<br /> Applica�ion of Net Pro�eeds. I�a�I or any part of the Property is condemned by em"rnen�domain proceedings ar by
<br /> any proceeding ❑r purchase in Iieu of condemna�ion, Lender may a�its elecfiion require�hat aII or any partian of the
<br /> ne� pr'oceeds of the award be app�ied �o the Indeb�ednes� nr �he repair o� restora�ion of�he Property. The net
<br /> proceeds of�he award sha1C mean`�he award after payment❑#aji reasonabis cos�s, expenses. and at�orneys' fees
<br /> incurred by Trustee or Lende�-in cannecfiion with the co�demnation.
<br /> f1VIP�SITI�N OF TAXES� FEES AND GHARGES BY G�VERNMENTAL AUTHflR1TiE5. The fallawing prorrisians rela�ing
<br /> � to governmental�axes,fees and charges are a pat�t of this Deed of Tr'us�;
<br /> Gurrenfi Taxes, Fees and Charges. Upon request by Lende�, Tru�tor sha�� exeGute such documents in addition to
<br /> this Deed af Trust and take whate�er other-action is �-eques�ed by Lender�o perfecf and con�inue Lender's lien on
<br /> �he ftea! Prapc;rty. Trus�o� shall r-eimburse Lender for all �axes, as described below, fiQge�her wi�h alI expenses
<br /> incur�red in recording, perfec�ing or aantinuing this Deed a� Trus�, including wi�hout lim�tation a�1 ta�es, fees,
<br /> dacumentary s�amps� and o�her charges fot recording ar registeririg�his Deed a�F Trust. �
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