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2� 17��929
<br /> DEED �F TRUST
<br /> �Continu�d} Page 4
<br /> gi�en by Lender that the Prvperky is Iacatsd in a special flood hazard area,fvr the maximum amount of Sorrvwer's
<br /> credi# line and the full unpaid principal balance of any priar liens vn the property secur�ng the loan, up to the
<br /> maximum policy iimits se#under the Natianal Flaad Insurance Program, or as atherwise required by Lender,and to
<br /> maintain such insurance for the term of the laan.
<br /> Application vf Praceeds. Trustor shall pramptly notify Lender of any loss or damage to the Property. Lender may
<br /> make proof of �vss if Trustor fails to d❑ s❑ within fifteen �15} days of the casualty. Whether or nat Lender's
<br /> security is impaired, Lender may, a#Lende�'s election, recei�e and retain the pr�ceeds o�any insurance and apply
<br /> the pro�eeds to the �eduction vf the �ndebtedness, payment vf any lien affecting the Property, or the restoration
<br /> and repaEr�f the Property. If Lender elects to apply the proceeds ta restoration and repair, Trustor shall iepair or
<br /> replace the damaged ❑r destroyed Impro�ements in a manne� satisfactory #o Lender. Lender shall, upon
<br /> satisfactory prvaf of such �xpenditure, pay or reimburse Trustvr from the praceeds for #he r�asonable cost of
<br /> repair or restoration if Trustor is nvt in default under this Deed vf Trust. Any proceeds which ha�e no# been
<br /> disbursed wEthin 18a days after their receipt and which Lender has nvt committed to the repair vr restoratian of
<br /> the Property shall be used first to pay any amount owing #o Lender under th�s Deed vf Trus�,then ta pay accrued
<br /> interest, and the remainder, if any, shall be applied to the principal balance af the Indebtedness. If Lender holds
<br /> any pr�oceeds after payment in full of the �ndebtedness, such proceeds shall be �aid to Trus#vr as Trustor's
<br /> interests may appear.
<br /> Complian�e with Existing Indebtedness. During th� peri�d in which any Existing Indebtedness described below is
<br /> in effect, campliance wi#h the insu�ance pro�isions contained in the instrument e�idencing such Existing
<br /> Indebtedness shali constitute �ompiiance with the insurance pra�isions under fhis ❑eed vf Trust, to the extent
<br /> compliance with the terms vf this Deed of Trus#would constitute a duplication of insurance requirement. If any
<br /> proceeds�ram the insurance become payable on ivss, the pro�isions in this ❑eed ❑f Trust for di�isivn of proceeds
<br /> shall apply only to that portion of the pr�ceeds not payable tv the holder of the Exist�ng Indebtedness.
<br /> LEN�ER'S EXPENDITURES. I� Trustar fails tA] t❑ keep the Prvperty free of all taxes, iiens, security interes�s,
<br /> encumbrances, and other claims, {8} #o pro�ide any required insurance on th� Praperty, �C} tv make repairs to the
<br /> Property or to c�mply w+#h any ❑bligation tv maintain Existing �ndebtedness in g��d standing as requir�d belvw, then
<br /> Lender may do so. If any action ❑r proceeding is �ommencsd that wvuld material�y affect Lender's interests in the
<br /> Property, then Lender on Trustor's hehalf may, but is not required to, take any ac#ion that Lender believes to be
<br /> appropriate to pro#sct Lender's interests. All expenses incurred or paid by Lender for such purpvses will then bear
<br /> interest at the rate chatged under the Credit Agreement �ram the date incurred or paid by Lender to the date af
<br /> repayment by Trustor. Ali such expenses wil! become a part of the lndebtedness and, at Lender's op�Eon, will �A} he
<br /> payahle❑n demand; �B} be added#o the balance of the �redit Agre�ment and be apportioned amvng and be payab�e
<br /> with any installmsnt payments to b�come due during either ('I} the term of any appli�able insurance policy; vr �2� the
<br /> remaining term of the��edit Agreement;or �C} be treated as a balloon payment which will be du�and payahle at the
<br /> C�edit Agreement's maturity. The Deed o�Trust also will sec�re payment of these amounts. The righ#s pro�ided for in
<br /> th�s paragraph shall be in additivn ta any vther rights vr any remedies to which Lender may be enti#led on accoun#of
<br /> any default. Any such a�tion by Lender shall nat be construed as curing the default so as t� bar Lender from any
<br /> remedy that it otherwise would ha�e had.
<br /> WARRANTY; DEFENSE�F TITLE. The foliowing pro�isions relating to ownership of the Property are a part�f this Deed
<br /> a�Trust:
<br /> Ti#le. Trustor warrants that: �a}Trustvr holds good and marketable title of record to the Property in fee simple,
<br /> free and clear of all liens and encumbrances other than those set farth in the Real Praper#y description ❑r in the
<br /> Existing �ndebtedness secti�n below vr in any tEtle insurance poli�y,title report, or final title opinion issued in fa�or
<br /> of, and accepted by, Lender in connectian with this Deed of Trust, and �b}Trustor has the full right, power, and
<br /> authority to exe�u�e and deEi�er th�s�eed of Trust tv Lender.
<br /> D�fense of TEtle. Subject to the exception in the paragraph abv�e, Trustvr war�ants and wil! fore�er defend the
<br /> t�tle tv the Pr�perty against the lawful claims of all persvns. In th�e�ent any action vr proceeding is commenced
<br /> that questions Trustor's titie ar the interest af Trustee or Lender under�his ❑eed vf Trust,Trustvr shall de�end the
<br /> a�tian at Trustor's expense. Trustor may be the nominal party in such proceeding, bu# Lender shall be entEt�ed to
<br /> participate in the prviceeding and to be represented in the prv�eed�ng by counsel of Lender's own choice, and
<br /> Trustor will deli�er, or�ause to be deli�ered,t❑ Lender such �nstruments as Lender may request from time to time
<br /> ta permit such participation.
<br /> Cornplianee With Laws. Trustor warrants that th� Property and Trustor's use ❑f the Proper�y complies wi#h all
<br /> �xisting applicable laws,v�d�nances,and regulations of go�ernmental authorities.
<br /> Surv��al af Promises. All promises, agreements, and statements Trustor has made in this ❑eed of Trust shall
<br /> survi�e the execution and deli�ery vf this D�ed of Trust, shafl be cnntinuing in natu�e and sha�l remain in tull force
<br /> and effect until such time as Borrvwer's fndebtedness is paid in fuil.
<br /> EXIST�NG INOE6TEDNESS. The follawing pro�isions con�erning Existing Indeb#edness are a part of this Deed of Trus�:
<br /> Existing Lien. The lien of this Deed of Trust se�uring the Indebtedness may be secondary and inferior to the lien
<br /> securing payment of an existing obligation. The�xisting obligation has a current principal balance af appraximately
<br /> $13�,278.83. Trustor expressly co�enants and agrees to pay,or see�o the paymenf ot,the Existing Indebt�dness
<br /> and to pre�en#any default❑n such indebtedness, any default under the instruments e�idencing such�ndebtedness,
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