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2� 1 ��79�3
<br /> . - DEED �F TRUST
<br /> �Contsnu�d� Pa�e 3
<br /> �.h��maximum pnl"rcy Iimi�s se�t under the National FIood Insuran�e Progt-am, or as o�herwlse required by Lender, and
<br /> to,maintain such insurance�or�he term af the Ioan. �
<br /> Applicatian of Proceeds, Trusfor shal! prompf�y na�ify Lender of any loss ❑�- damage �o �he Property i� the
<br /> es��mated cost of repai�❑r repla�emen�exceeds $�,�D.O�. Lender may make praof o�Ioss if T�u�tvr fails to do
<br /> so within fif�een {�.5} days o��he casual�y. Whe�her or nof Lender's security is impaired� L�nder may, at Lender's
<br /> eleation, receive and re�ain the proceeds of any insurance and apply �he proceeds fo �he �-educt�on o� the
<br /> Indeb�edness, payment af any lien affecting the PraperCy� or the res�or�a�ion and repair ❑�F fihe Proper�y, lf Lender
<br /> eiects f❑ apply �he proceeds -to resforation and repair{ T�'ustor shalI repai�' or repIace the damaged ar des�rayed
<br /> � lmprovemen�s in a manner sat�s�ac�ary�a Lender-. Lende�-shai�, upon �a�isfac�ory pt'oaf of such expendi�ure, pay
<br /> or reimburse Trus�or f�om the proceeds far the reasonable cos� o�repai� or res�oration if Trusfvr is not in d�-FauIt
<br /> und�r�his Deed o-F Trus�, Any proceeds which ha�e not been djsbursed wi�hin 'i 8� days afiter their �eceipfi and
<br /> which Lend�r has no��or�-imitted to the repair or-res�oration ❑��he Property shaII be used fi�st t❑ pay any amaunt
<br /> ❑wing �o Lender unde�-#his Deed a�Trust,�hen to pay accrusd interest, and�he remainder, ifi any, shaIl be appIied
<br /> t❑ �he principaI baIance ❑f the Indeb�edness. �f Lender hof ds any proceeds after payment in full �f �he
<br /> Indebtedness,such proceed$�hall be paid�o Trus�or as Trusto�-'s rn�eres�s may appear.
<br /> Compliance with Existing �nd�btedness. ❑urirlg �he period in which any E�is�ing Endebtedness described beIow �s
<br /> in e�fect, camp�iance wi�h �he insurance pra�is�ons contained in �h� instrumen� e�idencing such Existing
<br /> �ndeb�edness shaII constitute compliance with the insurance provisions und�r �his �eed of Trust, �o �he ex�ent
<br /> cnmpIiance with the�erm� o��his Deed o�r Trus�wauld consti�ute a duplica�ion ❑t insurance r�quiremen�. i� any
<br /> proceeds �r�om fihe insurance become payabfe vn Iossf the p�a�Esions in this Deed of Trust for di�isian o�pro�eeds
<br /> shaII apply anIy t❑�ha�pvrtion❑�the p�oceeds �a�payable to the holder of the Exis�ing lndebtedness.
<br /> LENDER'S EX�ENDITURES. I� Trus�or farls {A} t❑ keep the Proper�y fre� of all �axes� Iiens, secu�-ity interes�s�
<br /> encumbrances� and ofher c��ims� {B} to pra�ide any �e�uire� insurance ❑n �he Praper-�y� {�� �❑ make repa�rs to �the
<br /> Pr�perty ar t❑ aomply wi�h any abligafion t❑ mair��ain Exis�ing lndeb��dness zn good s�anding as �equired below, �hen
<br /> Lender may do so. I� any action ❑r proceed�ng is commenced that wvuld materially affec� Lender-'s in�erests in �he
<br /> , Proper-�y, �hen Lender on Trustar's beha�� may, buf is not requir�d to, take any ac�ion tha� Lender be�ie��� to be
<br /> apprapriate �o pro�ea� Lender's interests. All expens�s incurred or pa�d by Lender �or such purpa�es wi1I �hen beat-
<br /> interesf a� fhe ra�e charged under �h� G�edit Ag�eemen� from �he da�e incurr'ed or paid by Lender t� �he date ❑f
<br /> repaymenf by Trustor. A�� such expenses will be�ame a part❑�the Indebtedness and� a� Lender's optian, wil[ �A} be
<br /> � payable on demandr {B� be added to �he balance o��he Credit Agreemen�and be apportian�d among and be payab�e
<br /> wi�h any ins�allment payment�t❑ become due during ei�her {�� the term of any applicable'rnsuranae pviicy; or {�} the
<br /> remaining �erm of the Credit Agreemenf; ❑r �C} be treated as a balroon paymen�which will b� due and payable a��he
<br /> Cred�t Agreement's ma�urity, The �eed ofi Trus�also wii� s�cure paymenfi of these amoun�s. The rights pr�vided for in
<br /> �his paragraph shal! be in addition fi❑ any ❑�hsr rights or any remedies �o which Lender may be enfi�led on account of •
<br /> any de�au�t. Any such action by Lender shaII nat be cans�rued as curing the defau�� so as to ba� Lender ft�om any
<br /> remedy�hat it o�herwise wou�d ha�e had.
<br /> WARRANTY; DEFENSE�F TITLE. The�ollawing pra�isians rela�ing t❑ ownership of the Proper-�y are a part❑f�f�is Deed
<br /> of Trus�:
<br /> TifiIe. Trus�or warran�s that: {a} Trus�ar holds g��d and marketable �i�le ❑f-re�ard �to �he Property in fee simple,
<br /> �Free and clear o� all Iiens and encumbrances o�her tnan �hos� se�for�h in the Real Praperty descriptian or in �he
<br /> Exis�ing Indeb:�edness sec�ion below or in any t�tie insurance poiicy,�i�le report, ar-Fina��itIe opinion issued zn�a�or
<br /> ❑f, and ac�ep�ed by, L�nder in canne�tion with this Deed o�Trus�, and {b� Trustar has fhe#ull righ�, power, and
<br /> au�h�rity�o execute and deli��r�his ❑eed o�Trus��❑ Lender-.
<br /> Defense of Tit�e. 5ubjec�to �he excep�ion in the pa�-agraph abo�e, Trus�or warrants and wiI1 ��rever de#end'�he
<br /> fitle�❑ �he Prope�y agains��he law�Fu� cIaims o�-aII persons. ln the �ven�any action or proceeding is commenced
<br /> �ha�questians Trustor's-�i�le or th�in�eres�of Trus�ee or Lender under this Deed of Trus�,Trus�or shall de�fend�he
<br /> ac�ion at Trustor's expense. Trus�a�may be the nom[na� pa�ty in such proceeding� but Lender shaII be enfitled t❑
<br /> par-ricipate in the proceed�ng and �o be r-epresented in the proceeding by counsel of Lender's own choice, and �
<br /> Trus�or will deli�e�-, or�ause to be de�i�ered�to Lende�such ins�ruments as Lender may request from�ime�❑time
<br /> �o permi�such participa�Cion,
<br /> CompIiance Vl�rth Laws. Trus�or warr'ants that�he P�'operty and T�us�ot-'s use af the Praperty compIies wi�h all
<br /> exisfing appIicable laws, ordinances, and regulatior�s�f go�et-nmen�al au�hari�ies.
<br /> Sur�i�aI of Pramises. AII pramise�, agreeme�fs� and sfa�ements Trustor has made in this �eed o� Trus� shaI!
<br /> sur���e the execution and delivery o�this ❑eed ❑f Trust, shaI1 be cantinuing in na�ure and shall �emain in full force
<br /> , and effe��un��l suc�fiime as Trustor's Indeb�edness;s paid �n�ull.
<br /> FXISTING �NDEBTEQNESS. The follawing pr'o�isions concet-ning Existing fndeI��edness a�e a �art of��is Deed ❑f Trust:
<br /> �
<br /> Existing Lien. Th� �ien of th�s Deecl of Trust securing �he lnd�btedness may he secondary and inferior to an
<br /> exis�ing ��en. Trustor expressIy co�enan�s and agrees to pay, ❑r see to fhe paymen�of,�he Existing �ndeb�ednes�
<br /> a�nd�o preven�any de�au��on such indeb�edn�ss, any�efauf�under the instrumen�s e�idencir�g such indebtednessr
<br />' or any de�aul�u�der any secur�ty docume��s�or such indebfedness.
<br /> No Modifcation. Trusto� shaIl no� enter into any agreeme�t w��h the holder of any mot-rgage� deed o� tr-ust, ar �
<br /> �the�- securi�y agreemen� which has priority over this Deed ❑-F Trust by which tha� agreemen� :rs� modified�
<br /> amended, extended, or renewed withvut the pr�ot-writ�en consent ❑f Lender. -T�ustar shaII nei�het- request na�
<br /> accep�any fu�ure advan�es under a�y such secu�ity agre�men�w�thaut�he p�ior written cflnsenf of Lender. .
<br /> CONDEMNATI�N. The fa�Iow�ng pro�is�ons reZa�ing to condemnation proceedings a�-e a part of�his Deed of Trust:
<br /> Pro�eedings. �f any proceedir�g �n c��demnation �s fiiled, Trustar shall prompt[y noti�y Lender in wr"rting, and
<br /> Trus��r shaIl promp�ly take such steps as may be necessary�❑ def�nd �he action a�d obtain the award. Trus�or
<br /> may f�e�he nominal party in such pt'oceeding� bu�Lende�shaI1 be en�itIed�o pat-�icipate�n the proceeding and to be
<br /> �-epresented in �he prac�edin� by counsel �� its own Ghoice, and Trus�a�- wi�l deli�er ❑r cause �o�be deli'vered to
<br /> Lender such ins�ruments and documen�a�ion as may be �-equested by Lender from �ime to time ta per�-nit such
<br /> par�iGipa�ion. f
<br /> Applicatian of Net Proceeds. l�aI� or any part of the Prvpe�ty is cand�mned by eminen�d�main pra�eedings or by
<br />' any pro�eeding ❑r purchase in Iieu❑�c�nd�mna-�ion� Ler�der may at its eIec�ion ��quire�hat al�or any portion o�the
<br /> ne� proce�ds of �he award be appiied tv �he Indeb�edness or the repair ar restaration ❑f�he Property, The net
<br /> . proceeds of�he award shai� mean�he award after payment❑�all �easonable cas�s, expenses, and attvrneys' �ees
<br /> incurred hy Trus�ee or Lender in connection with the condemna�ion,
<br /> �MP�S�TiaN �F TAXES, FEES AND �HAR�ES BY ��VERNMENTAL AUTH�R1T1E5. The fallawing p�-o�isions rela�ing
<br /> �o go�ernmentai�axes�fees and charges are a part of�his❑eed o�Trus�:
<br /> Current T�xes, Fees and Gharges. Upon request b� L�nde�r Trus�or shaII execute such dacuments in additi�n to
<br /> this Deed of Trust and�ake whate�er o�her ac�ion is requested by Lender to perFec�and con��nue Lender`s lien on
<br /> �he ReaI Prapert�. Trusfar shaII reimburs� Lender to� aiI �axes, as des�ribed belawr �ogethe�- wi�h aI� expenses
<br /> incurred in re�arding, perFe�ting vr continuing this ❑�ed ❑� Trus�C, inciuding wi�hou� limita�ion all taxes, fees,
<br /> � do�ument�ry s�amps, and❑ther charges for recarding or registe�-ing�his Deed ❑f Trust. �
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