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2� 1 ��85�3
<br /> �EED �F TF�IJST
<br /> L�an No: '1�13���3�3 ��Dn#itlued� P�ge 3
<br /> Borrow�r's credit line and the full unpaid principa� balance of any prior liens ❑n the praperty se�uring the laan, up
<br /> t� the maximum pt�licy limits set under the Nationai F�ood Insurance Pfogram, or as otherwise r�quir�d by Lend�r,
<br /> and ta maintain such insurance fo�the term of the loan.
<br /> LEN�ER'S E3�PENDITURES. lf Trustor fails �Af t� �eep the Property fr�e �f all taxes, liens, s�curity interests,
<br /> �ncumbrancesR and other cl�ims, �By ta pra�ide any required in�urance an the �roperty, ��y to mal�e repairs �v the
<br /> Prvperty or tv �vmply wiCh any a�ligation tv maintain Existin� Indebtedne�s in g�vd standing as required helow, then
<br /> tender may do s�. If any actian or proceeding is cvmmenced that wrould mater�ally af�ect Lender's �nterests in the
<br /> Prvper�y, then Lender on Trustvr's behalf may, hut is not required t�, take any action that Lender belie�es tv be
<br /> appropriate t� protect Lender's interests. AEI expenses incurred ❑r paid by Lender #ar su�h purpvses will then bear
<br /> interest at the rate charged under the Credit Agreement frvm the date incurred or paid by Lender ta the date �f
<br /> repayment by Trustor. All such eacpenses will becam� a part af the Indebtedn�ss and. at L�nder's optian, wi�l tAf be
<br /> payab�� �n demand; �B) b� added tv the balance o�th� Credit Agreement and b� appartivned amvng and b� payab�e
<br /> with any installmen�payments to becvme due during either �1} th�term a�any appl�ca��e insur�nce pQlicy; or �2y the
<br /> remainEng term of the �redi� Agrsement; flr �Cy be treated as a ballaan payment which will be due and p�yable at the
<br /> Credit Agreement's maturity.
<br /> VIJARRANTY; []EFENSE�F TITL�. The following pro�isions rela��ng tv awnership of the Prop�r�Cy are a part❑f this Deed
<br /> nf Trus�:
<br /> Tit�s. Trustor warrants that: ta� Trustor hv�ds goad and marketable title ❑f reGord to the Property in fee simple,
<br /> free and �lear af all liens and encumbrances other than thase set forth in the Real Prvperty des�ription ar in the
<br /> Existing Indebtedness sectivn belaw vr in any title insurance policy, titl� repart, or final titEe opinion issued in fa�or
<br /> of, and ac�epted by. Lender in cvnnection with this Deed af Trust, and �by Trustor has the full right, power, and
<br /> authvrity t�execute and deli�er th�s ❑eed af Trust to L�nder.
<br /> [�ef�ns� of T�t1e. Subject to the ex�eptian in the paragraph abave, Trustor warrants and will fore�er d�fend the
<br /> title to the �roperty a�ainst th�lawfuf claims of a!I persons.
<br /> EXISTING �N[]EBTEQNESS. The followin� pro�isivns�oncerning Existing Indeb�edness ar� a part af this !]�ed of Trust:
<br /> Existing Lien. The lien vf thi� Deed vf Trust $eGuring the lndebtedness may be secondary and inferivr to an
<br /> existing lien. Trustor expressly ca�enants and agre�s ta pay, ar see tv the payment vf, the Existing Indebtedn�ss
<br /> and ta pre�ent any d�fault on s��h indebtedness, any detault under the instruments e�iden�ing such indebtedness,
<br /> �r any default under�ny seGurity dvcuments for suGh indebtedness.
<br /> EVENTS pF QEFAULT. Trustor wili be in defa��t under Chis Deed vf Trust if any ❑f the follawing happen: �Ay Tru�tor
<br /> �ommit� fraud or makes a material misrepres�ntation at any tim� in �onnecti�n with the Cre�it Agreement. This can
<br /> includ�, for exampRe, a false statement a�out gorr�wer's or Trust�r's incvme, assets, liabilities, �r any �ther aspects ❑f
<br /> Borrower's vr Trustor's financiai candition. tC3� g�rrower does nvt meet�he repayment terms ❑f the Cr�dit Agreement,
<br /> �C� Trust�r's actian ar ina�tion adversely affects the colfateral ❑r Lender's rights in the �al�ateral. This can include. for
<br /> exarnp�e, failure tv maintain required insurance, waste or destructi�e us� of th� dwelling. failure ta pay taxes. death ❑f
<br /> all persons liable ❑n the ac�aunt, transfer of title or sa�e vf the dwelling, creatian of a senivr lien vn the dwelling
<br /> withaut Lend�r's permission, foreclosure by the holder vf another lien, vr the us� of funds vr the dwelling far prohibited
<br /> purposes,
<br /> RIGHTS AND REME�IES C3N DEFAULT. Upan the aGcurren�e a� any Ev�n� of Default under any indebtedness, or
<br /> should ��rrqwe� �r Trustar fail tv cvmply wi�h any ❑f Bvrrawer's or Trus�ar's ablig�tion� under this peed of Yrust,
<br /> Trustee ar Lend�r may ex�rcise any�ne ❑r more❑f the follawing rights and remedies:
<br /> Acceleration Upon Default; Addi#iana��Remed�es. !f any E�ent of Default occurs as per the terms�f the Credit
<br /> Agreement secured her�by. L�nder may declare all Indebtednes� se�ured ay this ❑eed of Trust ta be due and
<br /> payab�e and the same �hall thereupan becom� due and payabl� without any presentment, demand, pratest ❑t
<br /> notice af any k�nd. Thersafter, Lender may:
<br /> ta} Eithe� in person �r 4y �g�nt, with ❑r without bringing any �ctivn or proce�ding, ar by a recei��r
<br /> appvinted by � court and withvut regard tc� the adeq��cy of its security, enter upvn and tal�e passessinn
<br /> of the Proper�y, ❑r any part ther�o�, in its vwn name ❑r in the name of Trustee, and do any acts which it
<br /> d��r�s ne�essary vr desirable tq preser�e rhe value, marketability❑r rentability vf#he Prop�rty, ❑r part of
<br /> the Proper�y or interest in the �'roperty; �ncrease the incom� from the �'r�perty t�r prot�ct the security ❑f
<br /> th� Proper�y; and, with Q� withaut taking passessian ❑f the Praperty� sue far ❑r ❑therwise collect the
<br /> rents, issues and profits of ths Property, including thvse past due and unpaid. and apply the same, less
<br /> �c�sts and expenses of operation and col�e�tion attorneys' fees, t❑ any indebtedness secured by this Dee�l
<br /> af Trust, ail in such flrder as Lender may determine, The entering upon and taking passessian vf the
<br /> Property. the coilection of such rents► issues and prafits, and the apRlicatian thereo� sha�l not cur� or
<br /> waide any default ❑r nQtice ofi default under this Deed af Tru�t ar in�alidate any act d�ne in respvnse to
<br /> such default or �ursuant tv such nat�ce o�default; and, nvtwithstanding the continuan�e in pvssession af
<br /> the Property vr the ca�lection, r�ceipt and app�icati�n of rent�. issues ar prafits, Trustee ar Lender sha�l
<br /> �e entitled C❑ exercise ��ery right prv�ided for in tF�e Credit Agreement or the f�elated [�acuments ar by
<br /> law upon�he accurrence of any e�ent❑�defau�t. incfuding the right ta exercis�the Rower of sa�e;
<br /> �bf Commence an action t❑ f�reclose this aeed of Trust as a mvrtgage, appoint a re�ei�er vr specifically
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