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2� 1 ��8843
<br /> DEED C)F TRUST
<br /> ���t7'kit7u�'C�} �age 3
<br /> �o�erage endors�men�s vn a replacemen� basis �ar the ful� insurab�e �a�ue cavering ali impro��ments on the Real
<br /> Property in an am�un� suf�ici�n� �a a�oid applicatian �� any coinsurance ciause, and vvith a s�andard mortgagee
<br /> clause in�a�or o�L�nder, �vge�her wi�h such other hazard and �iabifity insurance as Lender may�easonably require.
<br /> Palicies sha�i be written in �v�m, amounts, ca�erages and basis reasonab�y acceptable �o Lender and issued �y a
<br /> campany or compan�es reas�nably acceptab�e �o Lender. Trust�r, upvn request �� Lender, wi�� deli�er t❑ Lender
<br /> from -�im� tfl time the policies vr�ertificates of insurance in farm satis�actory to Lender, includ�ng stipu[ations that
<br /> ca�erag�s wi�� no�b�can�elled or diminished withaut at least thirty �3Dy days p��ar written no�ice ta Lender. Each
<br /> insuranc� poli�y alsv shall inc�ude an endorsement pra�iding that co�erage in �avor o� Lender wil� nvt be impaired
<br /> in any way by any act, omission vr de�au�t a�Trustor or any athe�persan. Shaufd the Real Proper�y be Io�at�d in
<br /> an area designated by the Administrator �f�the Federal Emergency Management Agency as a special ��ood ha,zard
<br /> area, Trus�or agrees �o obta�n and ma�ntain Federal Fload Insuran�e, if availabler for the maximum amount ❑�
<br /> Trustar's credi# [ine and the �uil unpaid p�in�ipal halance of any prior li�ns vn�he praperty securin� the �oan, up ta
<br /> the maximum policy limits set unde��he Na�ionai Flood �nsuran�e Program, or-as o�therwise required by Lender, and
<br /> �o main�a�n such insurance for the term v�the 1aan.
<br /> Applicat�vn vf Proceeds. Trus�or shall prvmp�ly noti�y Lender Qf any Ioss or damag� t� th� Proper�y i� the
<br /> estimated cost vf repair ar repla�em�nt exceeds $�,�D�.�D. Lender may make proo�o� loss �f T�us�vr fails ta do
<br /> so within �ifte�n ��5} days of the casualty. VIlhether ar not Lender's secur�ty is impair�d. Lender may, at Lender's
<br /> �le��ion. recei�e and re�ain the proceeds ofi any insu�rance and app�y �he prviceeds to th� redu�'tivn of the
<br /> I ndebtedness, paymen� o�F any lien aff�c�ing the Property, or th� restoratinn and repair��the Property. lf Lender
<br /> elects �o apply the pra�eeds to restoration and rspair, Trusta� shall repair vr replace the damaged ❑r destroyed
<br /> Impra�ements in a manner satisfactory to Lender, Lender shall, upan satisfactory proo�of such expenditure, pay
<br /> or reimburse Trustvr from �h� proceeds #vr the reasonable cos� o# repa�r or res�ora�ivn if Trustor is not in defiau�t
<br /> under this Deed o� Trust. Any proceeds which ha�e n�� been disbursed within 184 days after the�r receipt and
<br /> whi�h Lender has not cvmmitted tv the repair or restaration of th� Prop�rty shal[ be used first�o pay any amounfi
<br /> owing to Lender�under this ❑eed of Trust, then�o pay accrued interest, and�he remainderr if any, shall he applied
<br /> to �he principal balance o� the �ndebtedness. lf Lender holds any proc�sds after payment �n fui� a� the
<br /> [nde�tedn�ss, such prviceeds sha�l be paid tv Trustor as Trus�vr`s in�erests may appear.
<br /> G�mp�ian�e w�th Exis�ing lndeb#edness. During the p�riod in which any Existing lndebtedness describ�d be[ow �s
<br /> in effec�, compliance wi�h the insu�ance prv�isions �vntained in the instrument evidencing su�h Ex�sting
<br /> lndeb�edn�ss sha�l cans�i�ute complian�e with �he insurance pro�isivns under �his ❑eed v� T�ust, to th� extent
<br /> comp[iance with �he t�rms vfi th�s Deed of Trus� wau�d �onstitute a duplicati�n o# insuran�e requirement. lf any
<br /> praceeds from the insurance become payable on loss, �he prv�isions in this Deed o�Trust for di�ision flf prvice�ds
<br /> sha�� apply only tv that portion��th�proceeds na#payable ta�he h�lder o#�he Exis�ing indebtedn�ss,
<br /> LENDER`S EXPENDITURES. I# Trustor fails 4A3 to keep the Property �ree o� a�� taxes, 1i�ns. securi�y interests.
<br /> en�umb�an�es, and other claims, �B} to pro�ide any required insuranGe fln �he Prnper-ry. tCy ta make repairs t� the
<br /> Property or ta comply with any obfigativn to main�ain Exis�ing Indehtedness in good standing as required bel�w, �hen
<br /> Lend�r may d❑ so. �f any action or proceeding is �ommenced tha� would materially affect Lender's inte�ests in the
<br /> Proper�y, then Lender ❑n Trustor's beha�� may, but is nat required t�, take any ac�Ci�n that Lender belie�es to be
<br /> apprvprEate #o pratect Lender's interests. AI[ expenses incurred o� pa�d hy Lender for such purpfls�s wil� �hen bear
<br /> in�erest afi �he ra�e charged under the CredEt Agr��ment frvm �he date incur�ed or paid by Lender tv th� da�e o�
<br /> r�paymen� by Trustor. All such expenses will becom� a part ofi the [ndebtedness and, at Lender`s option, wi11 tA� he
<br /> payahle on demand; �B3 be added �o the balance o��he Gradifi Agreement and be appvrtEoned amvng and be payab�e
<br /> wi�h any installmen�payments ta becflme due during eith�r �13 �th��e�m of any appiicabie insuranc�:policy; vr ��y #he
<br /> remaining term of�he Credit Agreement; or t�y be�reated as a balloon paymen�wh�ch wi�l be due and payable at the
<br /> �redit Ayreement's maturity. The Deed of Trust afsa wil[secure paymen�af these amounts. The rights prv�ided �vr in
<br /> �his paragraph shal! be in addition to any ather rights ❑r any remedies tv which Lender may be entitled on account of
<br /> any default. Any such action by Lender shall not �e co�strued as curing �he default sa a� t� bar Lend�r �from any
<br /> remedy tha#it otherw�se would ha��had.
<br /> WARRANTY; DEFENSE�F TITLE. The foffawing provisions relating�v ownership of�he Property are a part❑f this Deed
<br /> o�Trus�:
<br /> Title. Trus�vr warran�s that: �a� T�us�or hoids goad and marketable title a� recard t❑ th� Property in fee simple,
<br /> �ree and clear o� all liens and encumbrances vther than �hose set �flrth in �he Real Property desGription vr in the
<br /> Ex�sting lndebtedn�ss sectivn be�vw or in any��t[� �nsuran�e pali�y, title repor�, or�ina�t�t�e opinian issued in fa�or
<br /> af, and accepted by, Lender �n conn�ction with this ❑��d of T�ust, and �b� Trustor has the �ul� right, pvwer, and
<br /> authvrity tv execute and del��er this ❑eed of Trus�tfl Lender.
<br /> Defense of Title. Sub�e�t to the exception in the paragraph abo�e, Trusta�- war�ants and wili f�reWer de#end the
<br /> �itie �o the Pr�perty against the �awful claims of al[ p�rsvns. In the e�ent any action or proc�eding is cvmmenced
<br /> �ha�questivns Trustor`s title vr the interest o�Trustee�r Lender under this Deed af Trust, Trus�vr sha1� de�end th�
<br /> ac�ion at Trusto�'s expense. Trus�ar may be the nominal party in such prviceeding, but Lender shall he entit�ed �o
<br /> participate in the proceeding and to be represen�ed in the proceeding by caunsel vf Lender`s own ch�ice, and
<br /> Trustor w�ll d�li�er, ar cause tv be defi�ered. tv Lender such ins�rumen�s as Lender may r�qu�st from time tv time
<br /> to permi�such participation.
<br /> Compliance Vlri�h Laws. Trustvr warran�s �hat the Prope�ty and Trustar's use of the Property complies with all
<br /> existing app�icab�e iaws, v�dinances, and regulations o#go�ernm�nta! authorities.
<br /> Surv�Wal vf Pramises. Af� promises. agreements. ar�d statements Trus�or has made in this Deed a� Trust shal!
<br /> sur�i�e the execut�vn and deli�ery af this Deed o�Trust, shall be cantinuing �n nature and shafl remain in�Ful� �arc�
<br /> and eff�ct unti!such time as Trustvr's �ndebtedness is paid in fu�l.
<br /> EX�STING iNDEBTEDNESS. The fioIlowing pro�isians cvnce�ning Existing Indebtedness are a par�of�his Deed of Trust:
<br /> Exis#ing Lien. The lien o� this Deed vf Trust securing the lnd�tatedness may b� secandary an�i inferivr to an
<br /> ex�sting lien. Trustor expressly co��nants and agrees tv pay, or see ta the payment vf. �he Existing lndebtedness
<br /> and tv pre�ent any d�#ault on such indeb�edness, any d��ault under�he instrumen�s ev�dencing such indebtedness,
<br /> ar any de�auft under any security documents for such inde�tedn�ss.
<br /> Nn Modificafion. Trustar shal� not enter intv any agreemen� with th� halder af any martgag�, deed �� trust, or
<br /> ather securi�y agreement which has priori�y v�er this Deed vf Trust hy which tha� agreement is mfldified,
<br /> amended, ex�ended, vr renev+red withou� the prior written consent of Lender. T�us#or shall neither request nvr
<br /> accep�any future ad�ances under any such secur�ty agreement withaut the privr written consen�o#Lender.
<br /> C�NDEMNATl�N. The follawing provisions rela�ing tv candemnatian pra�eed�ngs are a par�o�this �3eed o�Trus�:
<br /> Prnceedings. 1� any praceeding in condemnati�n is filed, Trustor sha�� pramptly notify Lender �n writing, and
<br /> Trustor shall promptly �ake such s�eps as may be necessary t❑ defend the ac�ion and abtain the award. Trustvr
<br /> may be the nominaf party in such proceeding, but L�nd�r shaf[ be enti�led ta participate in the proc�eding and to he
<br /> represen�ed �n the pr�ceed�ng by couns�l o� its own chvice. and Trustor will de���er �r cause �fl be def�vered ta
<br /> Lender such inst�umen�s and documen�a�ivn as may he reques��d Iay Lende� �rvm �ime to time 'to p�rmi� such
<br /> participation.
<br /> Applica�t'ron af Net Proceeds. If a[l or any part of�he Property is condemned by eminent dvmain proceedings ar by
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