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2� 17�� 144
<br /> [3E�D �F TRUST
<br /> �Cont[nued} Pag� 4
<br /> shall app�y only to that partion of�he p�oceeds nat payable to�he hold�r v�fhe Existing �ndeb�edness.
<br /> LENDER'S EXPENDITl1RES. �f Trustvr fails (A} to keep the Prvperty free o�' all �axes, liens, security interests,
<br /> encumbrances, and other claims, (B} to prov�de any required �nsurance on the Prope�ty, �C} to make repairs to the
<br /> Property or to comply with any ob[iga�ion ta maintain Existing �ndebtedness in good s�anding as required befow, then
<br /> Lender may do so. If any ac�ion or proceeding is commenced tha� would ma�erially affect Lender's interests in the
<br /> Prop��y, then Lender an Trustor's behaEf may, but is na� required #o, take any ac�ion tha� Lender belie�es to be
<br /> approp�iate �o pro�ect Lender's interests. A!I expenses incurred or paid by Lender fo� such purposes will then bear
<br /> in�erest at the rate charged under the Credi� Agreement from the da�e incurred or paid by Lender to the date o�
<br /> repaymen� by Trustor. All such expenses will become a part of the Indebtedness and, a� Lender's op#ion, will �A} be
<br /> payable on demand; (B} be added to �he balance of the Credit Agreemen� and be apportioned among and be payab�e
<br /> with any installment payments to become due during either �1} the�erm of any applicable insurance p�licy; or �2} the
<br /> remaining term of fh� Credi�Agreement; or �C} be��eated as a bailoon payment which wil� be due and payabl� at the
<br /> Cred�t Agreement's ma�uri�y. The Deed of Trust also will secu�e payment of these amounts. The rights pro�ided far in
<br /> this paragraph sha11 be in addi�ion to any other righ�s or any �-emedies to which Lender may be entitled on accvunt o�'
<br /> any defauft. Any such action by L�nder sha�l not b� construed as cur�ng the de�au[t sa as to bar Lende� fr�m any
<br /> remedy that i�otherwise wou[d ha�e had.
<br /> VI�ARRANTY; DEFENSE�F T�TLE. The foilowing provisivns relating to ownership o�#he Prope�ty are a part a#�his Deed
<br /> af Trust:
<br /> T�tle. Trustor warrants that: ta} Trustar holds good and marketable ti#le of record to the Property in fee simpEe,
<br /> fr�ee and �1ear of al1 liens and encumbran�es other than �hose set fo�th in the Real Property description or in the
<br /> Ex�sting lndeb#edness section belaw or�n any titfe insurance palicy, title r�port, or final title opinion issued in fa�or
<br /> o�', and accep�ed by, Lender in eonn�c�ian wifh �his ❑eed of Trust, and �b} Trustor has the full ri�ht, p�wer, and
<br /> au�hority�o execu�e and deliver this Deed of Trus#�o Lender.
<br /> Defense of Tifile. Subject to the exceptian in �he paragraph abo�e, Trustar warrants and will fore�er defend �he
<br /> title to the Proper�y agains�the lawful claims of al! persons. In the even�any ac�ion or proceeding is commenced
<br /> �hat questions Trus�or`s�itle or the in�e�est of Trustee or Lender under�his Deed a'�Trust, Trustor sha�l defend �he
<br /> action �t Trustor's expens�. Trustor may �e the nominal par�y in such p�aceeding, bu� Lender shaf� he entitled to
<br /> participate in �he proc�eding and �o be rep�esented in the proceeding by counsel of Lender's own choice, and
<br /> T�-ustor will deli�e�, or cause�o be deli�ered, to Lender such instruments as Lender may request�rom time�o��me
<br /> to permit such par#icipatian.
<br /> Campliance Wi�h Laws. Trustor warrants tha# the Proper�y and Trustor`s use o�the Proper�y complies with all
<br /> ex�sting applicable laws, ordinanc�s, and r�egula�ions of governmen�al au�horities.
<br /> Survi�al af Promises. Al� pr�omis�s, agreem�nts, and sta#ements Trustor has made in �his ❑eed of Trus� shafl
<br /> survi�e the execu�ion and deli�ery af this Deed of T�ust, shall be continuing in natu�e and shall remain in fulI force
<br /> and effect until such �ime as Trustor's�ndebtedness is paid irt full.
<br /> ExIST1NG INDEBTEDNESS. The fo�lovving p�o�isions concerning Exis�ing �ndebtedness are a par�of this Deed vf Trust:
<br /> Existing Li�n. The �ien of this Deed of Trus� securing the Indebtedness may be secondary and inferior to an
<br /> existing fien. Trustor expressly coWenants and agrees f� pay, ar see to the payment of, the Existing Indebt�dness
<br /> and to prevent any defau�t on such indebtedness, any defaul�under the ins��umenfs evidencing such indebtedness,
<br /> or any de�ault under any security documen�s for such indebtedness.
<br /> No Modificati�n. Trustar shall not enter in�� any agreement with #he holder of any mortgage, deed of�rust, or
<br /> oth�r s�curi�y agreemen� which has priority over this Deed of Trus� by which that agreement is modified,
<br /> amended, ex�ended, or renewed without �he pr�or w�i�ten consent of Lender. Trus�or shal[ neither reques� nar
<br /> aGcept any future ad�ances under any such security agreement without the pr�or writt�n consent of Lender.
<br /> C�NI]EMNATI�N. The fo�lowing pro�isians relating�a condemnation proceedings are a part of this Deed v�F Trust:
<br /> Praceedings. If any proc�eding in condemnation is filed, Trustor shall promp�ly no�ify Lender in writing, and
<br /> Trustar shafl pramp�ly �ake such steps as may be necessary to defend the action and ob�ain the award. Trustor
<br /> may be the nominai party i�such proceed�ng, but Lender sha�[ be entitled ta participa�e in the praceeding and to be
<br /> represented in the �roceeding by caunsel of its own choice, and Trus�or wil� del��er or cause to be deli�ered ta
<br /> Lender such instruments and documentatian as may be �eques�ed by Lender fr�m time to time fo permit such
<br /> participation.
<br /> Appl`rcation of Ne�Proceeds. �f a[1 or any par�v�the Proper�y is cvndemn�d by eminent domain proceedings or by
<br /> any proceeding or purchase in lieu ot condemna�ion, Lender may a� i#s electian require that a!1 0�any port�on �f the
<br /> net proceeds ot the award he applied to the Indebtedness or �he repair or restoratian �f�he Proper�y. The net
<br /> praceeds a�the award shall mean the award ��ter paymen�of al! reasonable costs, expenses, and attorneys' fees
<br /> incur�ed by Trustee or Lender in connection w�th the condemn�tion.
<br /> lMP�SITI4N �F TAXES, FEES AND CHARGES Bl' G�VERNMENTAL AUTHDRITIES. The fo[fowing pro�isions reiating
<br /> to go�ernmental taxes, fees and charges are a pa�t vf this Deed of Trust:
<br /> Current Taxes, Fees and Charges. Upon request by Lender, Trus�or shafl execu�e such documents in addition �o
<br /> this Deed of Trust and take wha�e�er other action is reques�ed by Lender to pe�fiect and continue Lender's lien on
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