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2� 1 ��8�75
<br /> �EED �F TRUST
<br /> ��o�tinued} Page 3
<br /> Propsrty in an amourrt suff�cient to avaid applicatian of any c�insurance clause, and with a standard mortgages
<br /> c�ause in favor of Lender,tngether w4#h such other hazard and liab#lity insurance as Lender may reasonably require.
<br /> f'oiicies shall be wr�tten in #a�m, amounts, cvverage� and basis reasanab�y acceptable tv Len�fer and issu�d by a
<br /> campany or campani�s reasonably accep�able tv Lender. Trustor, upvn request of Lender, w iil deiiver to Lender
<br /> fram �ime ta time t�e po�ieies v�c�r�ificates of �nsu�ance in �orm satistactvr� ta Lender, i�clud�ng stipulations that
<br /> coverages r►vi�l no#be cancelled ar d�minisMed without at least thirty�3�}days pr�or written no�ice to Lender. Each
<br /> �nst�rance palic�alsv shalJ ir�cfu�e a�end4�-s�ment providing #hat co�era8e in favor of Lender wili nat be impaired
<br /> in any way by any act, omiss�on or defaul#of T�ustor or any other person. 5hvuld the Real property be�ocated in
<br /> �n area de��gnated by the Adminis#rat�r af#he F�deral Emergency Managemsnt A�ency as a specia� fload hazard
<br /> a��a, Trustor agrees fo obfa�n and maintain Federal Fload Insurance, if a�ailabl�, for the maximum amount vf
<br /> Trustor's credit line and the fuli unpaid principal balance flf any prior�isns vn fhe praperty seGuring the loan, up ta
<br /> the maximum pvl�cy�imits set under the Nativnai Flavd Insurance Pr�gram,ar as otherwise requirsd by Lender,and
<br /> #❑ ma�nta�n such insuran�e fvr ths term of the i�an.
<br /> Application o�Praceeds. Trustor sha�l pramptly notify Lender af any�vss vr damage to the Property. Lender may
<br /> make proa�F af Ioss if Trustor fails tv do so within fifteen ��5} days of the �asual��. Whether or nat Lender's
<br /> security is impaired, �.ender may, at Lender's electian, receive and retain the prviceeds of any insuranre and appiy
<br /> the proce�ds tv the ret�u�tion a#the lnde�tedness, payment of any lien atfe�ting the F'roperty, vr the cestoratinn
<br /> and repair of the Prape�y. If Lender elects to apply the prac�eds to restorativn ar�d �epair, Trustor shall repair ar
<br /> rep�ace the damaged a� destroyed Imprv�ements in a manner satisfactory ta Lender. Lender shall, upan
<br /> satisfactory praaf af such expenditure, pay or reimburse Trustor from the prviceeds for the rea�sonable cast of
<br /> repair ar restvratinn if Trustor is nat in defau�t under this Deed of Trust. Any proceeds whi�h ha�e not been
<br /> disbursed within �80 days a#ter their receipt and which Lender has nat committed to the �epair or restora#ion af
<br /> the Property shall be used�rst tv pay any amount owing to Lender under�his Deed of Trust, then to pay accrued
<br /> interest, and the remainder, if any, shal� be aQplied to the principal balance vf#he �ndebtedness. If Lender hvlds
<br /> any proceeds after payment in ful� vf the Indebtedness, such proceeds shall be paid to Trustar as Trustor's
<br /> interests may a�pear.
<br /> Compliance with Existing Indehtedness. During the p�riod in whi�h any Existing �ndebtedness des�ribed be�ow ts
<br /> in effect, compl�ance with #he insurance pro�isians conta�ned �n the instrumenf eviden�ing such Existing
<br /> Indeb#edness shall cons�itute campliance with the insurance provisEons under this Deed of Trus#, to the extent
<br /> comp�iance with the term� af this Deed of Trus# wvuld canstitute a dup��ca#i�n o� insuranc� requirement. If any
<br /> proceeds from the insuran�e became payable pn Ioss, the provisions in this Deed of Trus#far di�ision of proceeds
<br /> shafl apply an�y tv that portian of the proceeds not payable tn t�e hqlder�f the Existing �ndehtedness.
<br /> LENDER'S EXP�NDlTURES. ff Trus#or fails �A} to keep the Prope�-�y free vf all taxes, liens, security interests,
<br /> encumbranves, and Qther claims, ��} ta pra�ide any required insuranoe vn the prvperty, �C} tv make repairs tv the
<br /> Prvperty or tv c�vmply with any abligation to maintain Existing indebtedness in gvod s#anding as required below, then
<br /> Lender- may dv so. If any action or prooeeding is oommenoed #hat wvuld materia�iy affect Lende�`s inferesfs in the
<br /> Praperty, #hen Lender on Trustar's behalf may, �aut is not required to, take any activn that �.ender belie�es ta be
<br /> app�vpr�a#e tv protect Lender's i nterests. AI i expenses incurred ar paid by Lender for such pur�ases wi�I then bear
<br /> inter�st at the rate charged under #he C�edit Agreement frvm the date incurred or paid by Lender to the date af
<br /> repayment by Trustor. al� sucf�expenses wil( beoome a part of the tndeb#edn�ss and, at Lend��'s option, will �A� he �
<br /> pay�ble on demand; �B} be added tv the balanoe�f#he Credit Agreement�nd be app�rtivned amang and be payable
<br /> v►►ith any insta�lment payments ta became due during eit�er ��} the term a�any appl�cable insurar�ce pali�y; ar �2} the
<br /> remaining term vf#he Gredi#Agreement; ar tC� be treated as a balloon payment which will be due and Qayable at�he
<br /> �redit r�greernent's maturity. The D�eed of Trust also wi�l s�cure payrr�en#of these amaunts. The rights prv��ded far in
<br /> this paragraph shals be in addition tv any other rights o�any remedies tv which I�ender rrray be entitled �n a�ovunt af
<br /> any deta�rlt. Any such act��n by L.ender shal� not be construed as curing the defauft sa as to bar Lender fram any
<br /> remedy that it otharwise wau�d ha��had,
<br /> WARRaNTY; DEFENSE 4F TfTLE. Tf�e fa�l�wing provisions relat�ng tv ov�rnership af the Praperty ar�a part o�this❑eed
<br /> ❑f Tru st:
<br /> Title. Trustvr warrants that: �a} Trustor hvlds go�d and marketable title of record to the Property in fee simple,
<br /> free and clear of all i�ens and encumbrances other than those set fo�#h �n the Rea� Prvperty description or in the
<br /> Existing lndebtedness sectian below o�in any title insurance pv[�cy, title report, or�ina!title opinian issued in fa�vr
<br /> of, and accepted by, Lender in cvnnection with this Deed o#Trust, and �b}Trustor has the ful� right, power, ar�d
<br /> autharity t�execute and deti�er this Deed af Trust to�.ender.
<br /> Defense of Tit�e, Subj�ct to the exception in the paragraph abo�e, Trustar warrants and will fvrever defend the
<br /> title to the Prvperty against#h� lawful claims vf all persans. �n the e�ent any activn ❑r prv�eeding is cvmmenced
<br /> that questians Trustar's title or the interest vf Trustee or Lender under this Deed vf Trust, Trustor shall defend the
<br /> action at Trustor's expense. T'rustar may be the nominal party in such proceeding, but Lender shafl be en�ifled ta
<br /> partic�pate in the proceeding and tv be represented in the proGeeding by counsel of Lender's awn chviGe, and
<br /> Trus#oi wili deliver, or cause to be deliver�d, #o Lender such insfrumen�s as Lender may request from tEme ta time
<br /> #o permit such parti�ipation.
<br /> Camp�iance With Laws. Trustvr war�ants that the Property and T�ustor's use af the Prvperty �omp�ies with a!I
<br /> existing appficahie laws, vrdinances, and�egulatians o�go�ernmental authorities.
<br /> 5urvi�al af Promises. AI� promises, agreements, and s#atements Trustv� has made in this []eed vf Trust shaf!
<br /> survive the executton and delivery ot this D�ee�d ot Trust, shal�be continuing in natUre and shall remain in full force
<br /> and effect until such time as Trustvr's indebtedness is paid in fuil.
<br /> EXESTING�NDEBTEDNESS. The fol4vwing provisions concerning Exis�tng In�ebtedness are a part of this Deed of Trust:
<br /> Ex�st�ng L1en. The lien of this Deed of Trust secu�ng the Indebtedness may be secondary and inferior to an
<br /> existing lien. Trustor expressly covenants and agrees t❑ pay, �r see to the payment of, the Existing Indebtedn�ss
<br /> and to pr�vent any default an such indebtedness, any default under the instruments eviden�ing such indebtedness,
<br /> vr any default�inde�any security documents fvr such indebtedness.
<br /> No Mod�f�cation. T�-ustvr shaft not enter into any agre�ment w�th the halder of an� mo�tgag�, dee� af t�ust, or
<br /> other security agreement which has privrity o�er this Deed vf Trust by which that agreement is modified,
<br /> amen�ed, exte�ded, or renewed withQut the pt-ivr w�itten con�snt af Lender. Trustor sha11 n�ither request nor
<br /> accept any future ad�ances under any such security agreement w�thout the p�ior written �ansent of Lender.
<br /> C�NDEMNATI�N. The fa��ow�ng pravisions reiating t��ondemna#ian praceedings are a part af this Deed�f 7rus�:
<br /> Proceedings, If any p�-aceeding in ovndemnativn is fiied, T�us#vr shall promptly no#i#y Lender in writing, and
<br /> Trustor shall prQmptly take such s�eps as may be n tv defend the activn and ob#ain the award. Trustor
<br /> . ma�1 be the naminal party in such praceeding, but Lender shal�be entitled tv participate in the proveed�ng and to be
<br /> represented in the prvc�eding by ovunsei vf its own �hoice, and Trustvr wilf de�i�er or cause �o be defi�ered to
<br /> Lender such inst�uments and dvcumentatian as may k�e requested by Lender frvm �ime tv time to permit su�h
<br /> participativn.
<br /> Appl�cat�on of 1Vet Pr�ceeds. lf a�l or an�part af the Property is ovndemned by eminent dvmain praceeciEngs❑r by
<br /> any prooeeding or purchase in lieu of condemnativn,Lender may at its�lecti4n require that a�l vr any port�vn of the
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