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2� 1 ��8127
<br /> DEED �F TRUST
<br /> . ��ontinued� �. Page 3
<br /> �he maximum palicy limi�s se�under�he Na�ianaI FIood lnsurance Program, ❑r as othet�wise required by Lend�r�,and
<br /> to maintain su�h insurance far the term ❑t the loan,
<br /> App[ica�jon of Proceeds. Tt'ustor shall promp�ly nofify Lende� o� any loss ot- damage to the Praperty if the
<br /> estimated cos�of repair or replacemen�exceeds $�,D��.�O. Lender-may make pro�f of ioss if Trustor�ails to do
<br /> so wi�hin�ifteen �"[5� days of the casua�ty. 1Nhether❑r no� Lender's security is impaired� Lender may, at L�nder`s
<br /> eIection, recei�e and re�ain the proceeds o-F any insurance and apply the proceeds ta the reduction ❑f the
<br /> rndeb�edness, paymen� of any lien affecting the P�-operty, or the res�o�-ation and repair o��he Property. I� Lender
<br /> elects �o apply the proceeds ta res�ora�ion and repairr Trusf�r shall repair flr replace the dama�ed or des�royed
<br /> lmpra�ements in a manner satisfactory t❑ Lender. Lender shajx, upan sa�is�Fac�ory proof of such e�cpenditure* �ay
<br /> or reimburse T�ustor�rom �he proc�eds for�he reasonabI� cost af repair ❑r restora�i�n if Trus�or is nat in de�ault
<br /> und�r�his Deed o�F Trust. Any proceeds which ha�e no� been disbursed within �8� days afker�heir receipt and
<br /> which Lender has nat cammitted t❑ �h�e �epair or restoratian o�F the Property shall be used tir��t❑ pay any amount
<br /> owing to Lender under�his Deed nf Trustr�hen to pay accrued interest� and the remainder, if any� sha�I be appl�ed
<br /> ta �he princip�I balance ❑f the �ndebtedness. �f Lendet- halds any proceeds aftet� payment in fulI af the
<br /> Indebfedness,su�h p�-oceeds shall be paid fo Trus�or as Trus�or`s interes�s�nay appear, '
<br /> Comp�iance with Fxisting lndeb�edness. During the per�od in which any Ex�sting Indebtedness described below is
<br /> in effe��r compliance wi�h �he insurance provisions contained in the instrument evidencing such Fxis�ing
<br /> � Indebtednes� shall cvnsti�ufe compliance wi�h �he insurance pt-avis�ons under fhis peed of Trust� �❑ the exten�
<br /> compliance with the terms ❑f this Deed ot T�ust wvuld cons�itute a dup[icatian o� insurance requir'eme��. If any
<br /> proceeds from-the insurance �ecome payable ❑n lass, the pro��sions in this Deed of Trus�far di�ision o�proceeds
<br /> shaII apply only t❑that portinn of the prviceeds not payable t❑th�hoIder nf�he Exxstxng Indebtedness.
<br /> LENDER`S EXPEND�TL]RES. lfi Trus�ar faiIs �A� to keep the Property �ree o� all taxesy ii��s� se�uri�y in�e�es�s,
<br /> en�umbrances� and other cIaims, �B] ta provide any required insur-ance on �he Prope�ty� �C} t❑ make repa�rs to the
<br /> P�'ope�ty or�o c�mply wi�h any ❑bliga�ion �v maintain Exist�ng �ndebtedness in good standing as required beIvw, �hen
<br /> Lender may do so. If any aG�ion or procesding �s commenced �hat wou�d ma�er�aIIy affec� Lender`s �nfieres�s in the
<br /> Pt'opetrty, �hen Lender on Trusfo�'s beh�l� may, but is no� required t�, �ake any actia� fha� Le�ndet- be[le�es to be
<br /> appropria�e to pra�e�t Lender's in�erests. AII expenses incurred or paid by L�nder �or such purpose� wilI �hen b�ar
<br /> Interest at the rate cha�ged under the Gredif Agreemen� from the date i�curr'ed or paid by Lendet- to the date a�
<br /> repayment by Trustor. all such expenses wi[I b�cot�-�e a pa�t af the lndebfedness and, at Lender's optian, will �A} be
<br /> payab�e on demand� (B) be added ta the balance fl�the C�edit Agreemen�and be appartioned among and be payab�e
<br /> wi�h any ins�aI�me�t payments to become due dut�ing ei�het� ('�} the term o�alny applicab�e insura�ce p��icy; or �2� the
<br /> �emainrng�erm o��he Credit Agreemen�; ot- {C} be treafed as a balloa� paymen�wh�ch wiIl be due and pa�rabfe at the
<br /> Credi�Agreement's matur�ty, The ae�d of Tr'ust ais❑will secure payment a�these amounts. The rights pro�id�d for in
<br /> this paragraph shaII be in addition t❑ any o�her righfs or any remedies t� which Lender may be ent"rtled on accvun� of
<br /> any de�au��. Any such action by Lender- sha�I nat be cons�rued as curing �he defauI� so as to bar Lender from any
<br /> remedy�hat i�otherwise wou�d harre had.
<br /> WARRANTY;DEFENSE OF T1TLE. The�ollowing pra�isions relating�a ownership of the Property are a part of this Deed
<br /> of Trus�:
<br /> Title. Trustot-warran�s`�hat: �a� Trustor hoids good and marketable �i�Ie of record �o �he Praperty in fee sirryple�
<br /> �Free and clear ❑� al! liens and encumbrance� o�h�r than �hose se��ar�h in the ReaI Property descr�p�ion ❑r in the
<br /> Existing Indeb�edn�ss section belaw ar in any�i�le insurance p�licy,�i�le repar�, or fina!ti�ie opini�n issued in�a�o�-
<br /> ❑-�, and accep�ed by, Lender in connection with this Deed ❑�Trus�, and {b] Tr-usto.r has �he full righ�, power, and
<br /> aut�arity to execute and deli�er this ❑eed of Trust ta Lender.
<br /> Defense af TitIe. 5ubject to the exGeptxor� in the paragraph abo�e, Trus�ar wat-t-ants and will fore�er de�end the
<br /> title to the Praperty against the lawful cIaims of a1! persons, In the e�ent any ac�ian ar praceeding �s commenced
<br /> tha�questions Trus�or's�itle ❑r the jnterest a�Trustee ar Lender under this Deed of Trustr Trustor sha!! de�end the '
<br /> action at Trusto�-'s expense. Trustor may be the nominaI par�y in suGh proceeding, buf Lender sha1I be en�itled�o
<br /> parti�ipa�e in fihe proceeding and to be repr�sented in the proceeding by caunseI of Lender's own chaice, and
<br /> Trus�or will deIi�er, or cause ta be delivered��o Lender such instrumen�s as Lender may request�rom time to�ime
<br /> to permi�such participation.
<br /> Compliance With Laws. Trustor warrants that the Praper�y and Trustor's use o�the Property compIies wi�h all
<br /> exis�ing applicable�aws, ord"rnances,and regula�ions of go�ernmental authori�ies.
<br /> Surviva� o� Promises. AII promises, agreemen-�s� and s�a�ements Trus�or has made in this Deed a� Trust sha��
<br /> survi�e�he execution and deIirrery o-�-Chis D�ed af Trus�, shalr be confinuing in na�ure and sharl remain in full force
<br /> and effec�un�il such time as Trustor's lndeb�edness i�paid in�ull. �
<br /> EXISTING ���EBTEDNESS. The foIIawing pro�isions cancernir�g Existing lndeb�edness are a part�f this Deed ❑fi Trust:
<br /> Existing Lien. The lien ❑f �his Deed o� Tr'ust securing �he Indeb�edness may be secondary and inferio� �o an
<br /> exis�ing Iien. Trusfor expressly co�enants and agrees to pay, ar see to the �aymen�o-�,fhe Existing Indebtedness
<br /> and to p�-event any de�ault v�n such indeb�edness, any default ur�der the instruments e�idenci�g such indebtedness,
<br /> or any d�fault under any security documents�o�such �ndeb�edness.
<br /> No Modificatian. Tr'ustor shal! not en�er in�o any agreement wi�h the halder of any mor�tgage, deed ❑f trust, o�
<br /> ather se�urity agreement which has prio�ity o�er this ❑eed ❑f Trus� by which �hat agreement is modifiiedr
<br /> amended, extended, or renewed without the priot� written consen� ❑� Lender, Trustor shail nei�her request nor
<br /> accep�any future ad�ances under�ny such security agreement wi�hou��he prior writ�en consent of Lender.
<br /> C�NDEMNATlal1l. The following pro�isions relaf�ng�o condemnation pro�eedings are a part of thzs❑eed of Trus�: �
<br /> �roceedings. !f any proceeding in condemnation is �ifed, Trustor shall promptly no�ify Lendet� xn wt-i�ing, and
<br /> Trustar shall promp�Iy�ake such steps as may be necessary to defend �he ac�ion and ab�ain �he award. Trus�or
<br /> may be the nominal party in such proceeding{ but Lender shali b�enfiitIed to participa�e in the prnceeding and�o be
<br /> represenfed in the praceeding by counseI of ifs own choice, and Trustor will deli�er or cause to be deli�ered to
<br /> Lender such instrumen�s and documen�atian as may be requ�sted hy LendFr firom time to �ime to pet-mi� such
<br /> participatian.
<br /> Application ❑f Ne�Proceeds. If a!I or any part❑f the Proper-�y is cnndemned hy eminen�domain praceedings or by
<br /> any proceeding ❑r purchase in I�eu a�condemnatio�, Lender may a�its electian require that aII or any pvrtion o��he
<br /> ne� proceeds af�h� awa�d be appiied t❑ �he Indebtedness ❑r �he repair or res�oration af�he Praperty. The net
<br /> proc�eds of�he award sha[i mean�Ch� award a-�-�er paymen�of a[E reasonable costs, expenses, and attorneys' fees
<br /> incurred by Trustee or Lender in connectian wifih the condemnation. '
<br /> IMPOS�TI�N ❑F TAXFS� FEES AN� CHARGES BY GaVERNMENTAL AUTH�RITIES. The faljvwing pro�isions relating
<br /> �v go�e�nmen�al taxes.�ees and charges are a part of this Deed af Trust:
<br /> Gurrent Taxes, Fees and Gh�rges. Upon request by Lender, 7r'usto�shalI execut� such documents in addition �o
<br /> this D�ed of Tr-ust and take wha�e�er o�her ac�ion is requested by Lender�o per�ea�and co�finue Lender's lien on
<br /> the Real Praperty. Trus�or shall reimburse Lender �or all taxes, as described befow, �ogether wi�h ail expenses
<br /> incu�red �n re�ard�ng. perfecting or continuing this Deed of Trust, incIuding withou� lir-nitation ajl taxes, fees�
<br /> documen�ary s�amps, and other charges�or recording or regis�ering this Deed of Trus�.
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