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2� 1 ��8197
<br /> DEED �F TRUST
<br /> �Contir�u�d} Page 3
<br /> Property in an amount suffic�ent tv a�oid applicatian vf any coinsurance ��ause, and with a standard m�rtgagee
<br /> clause in favar of Lender,together with such ather hazard and liability insurance a�Lender may reasonably requirs.
<br /> Po�icies shall be wri�ten in farm, amounts, co�erages and basis reasvnably acceptable to L�nder and issued by a
<br /> company or campanies reasonably acceptahle tfl Lend�r. Trustor, upon request of Lender, will deii�er to Lender
<br /> from time ta time the pvli�ies or certificates vf insut�ance in form satisfactory tv Lender, including stipulatians that
<br /> cvverages wili not be cancelled ar diminished w�thaut at least thirty�3�}days prior written nvtice to Lender. Each
<br /> insurance pv�icy alsa shall tnclude an endorsement p�-o�iding that caverage in fa�or o#Lender will na# be impaired
<br /> in any way by any act, amission ar de��ult of T�ustor vr any vther person. Should Ehe�eal Property be lacated in
<br /> an area designated by the Administrator vf the Federa� Emergency Management Agency as a special flvod hazard
<br /> area, Trustvr agrees to abtain and maintain Federal Flood �nsurance, if a�ailable, for the maximum amount of
<br /> Trustor's credit I�ne and the fu�! unpaid prin�ipal balance of any priar lien�vn the property securing the �oan, up ta
<br /> the maximum pali�y limi�s set under the National Flaod Insurance Program,or as otherwise required by Lender,and
<br /> t� maintain such insuran�e for the term af the Ivan.
<br /> Appl�catton o�Pro�eeds. Tr�star shall prompt�y notify�ender of any Ioss a�damage to the Praperty. Lender may
<br /> make provf vf loss if Trustor fails to do so within fifteen �'i 5} days of the casualty. Whether ar n�t Lende�'s
<br /> security is impaired, Lender may, at Lender's eiection, recei�e and re#ain the proceeds of any insurance and apply
<br /> #h� prvoeeds to the reduGtion of the �ndebtedness, payment�f any lien affecting the Property, or the restoration
<br /> and repair oi the Property. !�Lender elects ta app�y the proc:e�ds to restaratEon and repa�r, Trustor shall repair or
<br /> repla�e the damaged or destroyed �mpro�ements tn a manner satisfactory to Lender. Lender shall, upan
<br /> satisfactory proaf of such expenditure, pay or reimburse Trust�r fram the prviceeds far the reasanabie cost ❑f
<br /> repair nr r�storation if Trustor is nvt in default under th�s Deed of Trust. Any prooeeds which ha�e not been
<br /> disbursed wi#hin 18� days after their receipt and which Lender has n�t committed to the repair or restoratian of
<br /> the Property sha�l be used first to pay any amount owing tv Lender under th�s Deed of Trust,then to pay accrued
<br /> interest, and the remainder, if any, shail be applied to the principa� balance of the Indebtedness. If Lender holds
<br /> any proceeds after paymen# in fuli of the lndebtedness, such prooeeds sha#1 be paid to Trustor as Trustar's
<br /> interests may appear.
<br /> Compliance with Existing Indebtedness. During the period in which any Exis#ing lndebtedness described below is
<br /> in e�fect, compliance with the insuran�e pro�isions cvntained in the instrument e�idencing such Existing
<br /> Indebtedness sha�l canstitute complianc� with the insurance pro�isians under this D�ed of Trust, to the extent
<br /> compliance with the terms vf this De�d o�Trust wvuld c�nsti#ute a duplication of insurance requirement. I�any
<br /> prviceeds from the insurance becam� payable on loss, the prov�sions in this Deed af Trust for di�ision o�pr��eeds
<br /> sha�l apply only to that portion of the prnceeds nat payable to the hvlder af the Existing lndebtedness.
<br /> LENDER'S E]CPENDITURES. �f Tr-ustor fails �A} ta keep the Prvperty free of all taxes, liens, security Enterests,
<br /> encumbranc�s, and nthsr claims, (B} #o p�a�ide any required insuranoe on the Property, �C} ta make repairs�o the
<br /> Prvperty or ta �omply with any obli�ation to maintain Exist�ng Indebtedn�ss in govd standing as r�quired below, then
<br /> Lender may d� sa. �f any activn or praceeding is commenoed that wvuld materially affe�t Lenders interests in the
<br /> Rro�perty, #hen Lender nn TrUstor's bek�a�f �r�ay, but is �nat required to, take any ac�ion that Lender belie�es ts� be
<br /> appropriate to protec# Lender's interests. AI� expenses in�urred or paid by Lender fvr such purpvses wiif then bear
<br /> interest at �he rate d�arged under the Grsdit Agreement frvm the date incurred ar paid by Lendsr to the date of
<br /> repayment by Trustor. All such expenses will b�oorrte a part of th� [ndebtedness and, at Lender's option, will �A} be
<br /> payable vn demand; �B} be ad�ed#o the balanoe o#the Credit Agreement and be apportioned amang and be payable
<br /> with any�nsta�lment payments to beoo�r�e du�during either �'!) the term vf any applirable insurance palicy; or ��} the
<br /> remain�ng term of the Credit Agreement;or �C} be treated as a bailo4n payment which w�il be due and payable at the
<br /> Credit Ag�eement's maturity. The Deed of Trust also wil[secure payment vf these amounts. The rights pravided for�n
<br /> this paragraph shall be in addition to any ather rights or any remedies to which Lender may be sntitled on aocaunt o�
<br /> any defau�t. Any such action by L{ender shall nvt be canstrued as cur�ng the defauCt sv as to bar Lender from any
<br /> remedy that it vtherwise would ha�e had.
<br /> VIIARRANTY; DEFENSE�F T1TLE. The follnwing pro�isivns re�ating tv ownership vf the Property are a pa�t o�this ❑eed
<br /> vf Trust:
<br /> Title. Trustvr warrants that: �a}Trustor hv�ds good and marketable title nf rec��d to the Property in fee simple,
<br /> free and �lear❑f all liens and encumbrances other than those set forth in the ReaE Prvperty descriptian ar 'tn the
<br /> Existing lndebtedness section below or in any titls insurance policy, ti�le repvrt, ❑r�inal tit�e opinian issued in�a�or
<br /> vf, and accepted by, Lender in connectivn with this �eed of Trust, and �b}Trustor has#he �ul� right, power, and
<br /> authority to execute and deli�er this Deed vf Trust to Lender.
<br /> Defense flf Title. Subject to the exGeption in the paragraph aba�e, Trustar warrants and wi�l fore�er defend the
<br /> #i#le to the Property against the lawful claims of all persons. !n the e�ent any action or proce�ding is cammenced
<br /> that questions Trustar's title or the inte�est of Trustee or Lender under this Deed of Trust,Trust�r shall d�fend the
<br /> act�on at Trust�r's expense. Trustor may be the nominal party in such proceeding, but Lender shalf be entitled to
<br /> partEcipate in the proceeding and #a be represented in the prviceeding by counse� vf Lender's own chaice, and
<br /> Trustor wiil deii�er, ❑r cause to be delivered,t� L�nder such instruments as Len�er may request from time to #ime
<br /> #o perm�t such part�cipation.
<br /> �ampliance Vllith Laws. Trustor warrants that the Property and Trus#vr's use of the Property complies with all
<br /> ex�sting appfi�able laws,ardinances,and regu�ations of gavernmental authflri#�es.
<br /> Survi�al of Promises. Alt prvmises, agreements, and s#a#em�nts Trustor has ma�e in this Deed vf Trust shai!
<br /> survive the execution and deli�ery v�this Deed af Trust, shall be continuing in nature and shal! remain in fulf fvrce
<br /> and effect unti!such time as Trusto�'s Indebtedness is paid in full.
<br /> EXlST1N�iNDEBTEaNESS. The following pro�isions concerning Existing Inde�tedness are a par#of this Deed of Trust:
<br /> Existing Lien. The lien vf this ❑eed vf Trus# securing the lndebtedness may be secondary and inferivr to an
<br /> existing lien. Trustor expressly Ca�enants and agrees to pay, ar s�e to the payment of, the Existing Indebtednsss
<br /> and ta prevent any default❑n such indeb�edness, any default under the instruments �videncing such indebtedness,
<br /> ar any default und�r any security documents for such ir�debtedness.
<br /> No Modificat�on. Trustor shal! not enter into any agreement with the holder af any mortgage, deed ❑f trust, ar
<br /> other security ag�eement which has priority a�er this Deed �f Trust by which tha# agreement +s madified,
<br /> amended, extended, or renewed without the pr�or written Gansent ofi Lender. Trustvr shall neither request nor
<br /> accep#any future ad�ances under any such security agreement without th�prior written �nnsent vf Lender.
<br /> C�NDEMNAT�DN. The foliowing pravisians r�ia#ing t�cvndemnativn proceedings are a part af this Deed nf Trust:
<br /> Praceedings. If any proceeding in oandemnation is f led, Trustor shall promptly notify Lender in writing, and
<br /> Trustor shali prvmptly take such steps a�may be neoessary to defend the activn and obtain the award. Tn,�star
<br /> may be the naminai party in such prooeeding, but Lender shall be entitled to participate in the proceeding and ta be
<br /> re�resented in the proceeding by oounsel of its own choioe, arrd Trustor will deli�e�a��aus�e to be delivered tv
<br /> Lender such inst�uments and documen�ation as may be requested by Lender from time to time to permit such
<br /> participation.
<br /> Appiication of Net Proceeds. lf al�or any part of�he Property is aondermed by eminent domain prooeedings or by
<br /> any prooeerling or purchase�n lieu af candemna�ian,Le�der may at its electian requi�re that ail or any partion of the
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