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2� 17� 125�
<br /> DEEC] �F TRUST
<br /> ��ontlnued} Page 3
<br /> area, Trustor agrees ta obtain and mainfiain Federal Fload Insurance{ i� a�aiIabie, far the maximum amount o�
<br /> Trustor's credit line and the�ull unpaid principaI balance o�any prior liens on the property securing the 1oan, up�o
<br /> the maximum policy limits set under the Na�ivnaI F�ood Insurance Programt ar as otherw�se required by Lender� and
<br /> �o main�ain such insurance-Fo�r the term of the�aan.
<br /> App[icatian of Procaeds. Trustor shaII promptIy �ottfy Lender o-F any I�ss or damage to `the Prvperty if the
<br /> estimated cost of repair or �epIacement�xceeds $'[,oao,0�. Lender may make p�oaf of Ioss if Trustor fail$ �o dfl
<br /> so wi�hin fifteen {Z 5} days ❑f�he casualty. Whe�the��r na�Lender's se�urity is impaired, Lender may, at Lender's
<br /> elec�ion, �ecei�e and refain the praceeds of any insu�an�e and apply the p�oceeds to the reduction af �he
<br /> �ndebtedness, payment o-�any lien affec�ing the Property, or�he restora�ion and �epair of the Praperty. If Lender
<br /> eleG�s �o appIy the procee�� to res�oration and repair{ Trustor shail repair or replace the damaged or destroyed
<br /> lmpra�emsn�s in a manner s�tisfactary to Lende�. Lender sha��r upan satisfactory proof❑�such expenditure, Aay
<br /> or reimburse Trustar#ram fhe prnceeds for the reasonable cost af repair ❑r res�ara�ion i��'rustot- is not in defauIt
<br /> under this Deed of Tr-ust. Any pra�eeds which ha�e no� been disbursed within 'i 8D days after�heir receipt and
<br /> which Lender has no�c�mmitted�a the repair or restora�ion of�he Proper-�y shall be used �irs�t❑ pay any amoun�
<br /> owing�o Lende�-unde�fhi� Deed of Yrust, then�o pay accrued interest, and�he remainder, if any, shaII be appIied
<br /> to the p�incipal ba�ance af �he Indebtedness. !� Lender hoIds any proceeds after payment in fulI o� �he
<br /> Indebtedness,such proceeds shal� be paid to Trustor as Tt-ustor's interests may appear.
<br /> Comp�iance with Existing indebtedness. During the pet-Iod in whi�h any Exis�ing lndeb�edness described below is
<br /> in e#fect, compIiance w��h the in$urance provisions �onta�ned in the inst�ument e�idenGing such Existing
<br /> Inde�tedness shaIl constitute compliance wi�h the insurance pro��sions unde�- this Deed af Trus�, to the exfen�
<br /> compliance with the terms of thi$ De�d ❑�Trust wQu�d constitute a dupiication of insu�ance requirer�-tient. I� any
<br /> proceeds from �he insuran�e became payable on loss,the pro�isions in this Deed ot Trus�fvr di�ision of proceeds
<br /> shall apply only to that portion of�he proceeds not payable to�he holder of the Existing Indebtedness,
<br /> LENDER'S EXPENDITURES, I� Trustor �ails (A� �o k�ep �he Pt-operty free vf a�I �axes, liens� security in�er�sts,
<br /> en�umbrances, and ❑ther c�aimsf �Bj ta pro�ide any required �nsurance ❑n the Praperty, {C} to make repairs t❑ the
<br /> P�vper�y or to comQly wl�h any ob�sgatson to main�air� Exist�ng Indebte�ngss in g�od standsng as required be�ow, then
<br /> Lender may do so. If any a�tion or prviceeding is �ommen�ed that would mate�-ialiy affect Lender's interests ��n the
<br /> Properly, then Lende� on Trustor's behaIf may, but is nat required to� �ake any ac�ion �hat Lender belie�es to be
<br /> appropriate t❑ pro�ect Lender's in�erests. Alf expenses incurred or paid by Lend�r for such purpases will then bear
<br /> interest a� �he �a�e charged under the Credit� Agreemen� �rom the date incu�-red ❑r paid by Lender to the date af
<br /> repaymen�by Trustar. All such expenses will become a part o��he Indebtedness and, at L�nder'� option, will �A} be
<br /> payable on demand; {B� iae added fi� the balance o�the Credit Agreement and be appartioned among and be payable
<br /> with any instaIIment payments to become due dut-ing either- [1� the term o-F any appIicable insurance poliGy; or ��} the
<br /> �ema�n�ng term of�he �red�t Agreement; a� �C� be tt'eated as a bailoan payment wh�ch wi�� be due and payable at the
<br /> Credit Agreement's matur�ity. The Deed af Trust a�so wiII secure payment o-�these amaunts, The rights prv�ided fo�r in
<br /> this paragraph shai� be in addition to any other rights or any remedi�s t❑ which Lender may �e entitled on accaunt ❑�
<br /> any default. Any such action by Lender shal� not be const�ued as curing the default so as �❑ bar Lender from any
<br /> r�medy tha�it atherwise would ha�e had.
<br /> WARRANTY; DEFEN�E DF T�TLE. The foIlowing pro�ision� rela�ing�o ownership ofi-�he Properry are a part of this❑eed
<br /> o�T�ust;
<br /> Titie. Trustor warrants tha�: {a) Trustor hojds good and marketable fiitje ofi r�ecord to the Property in fee simple,
<br /> free and cIear o�F aII Iiens and encumbrances other than those set forth in the Real Property descriptian vr in the
<br /> �xisting Indebtedness s�ction beIow or in any title insurance policy,ti�le report, o�-�inaI title opinion issued in fa�or
<br /> of� and accepted by, Lender in connection with this Deed of Trus�, and {b� Trustor has the full right, power� and
<br /> au�hority to execute and delir�er this ❑eed ofi Trust ta Lende�.
<br /> Defense of Title. Subject�o the exception in �he parag�aph abo�er Trustor- warrants and wi�� -�orever defend the
<br /> titie�o the Prope�y against�he IawfuI ciaims of all persons. ln the e�en�any ac�ion or praceeding is commenced
<br /> tha�questions T�us�or's titie or fihe inter�est of Trus�ee or Lender-under this Deed o�Trus��T�us�or shali defend the
<br /> ac�ion at Trustor's expense. Trustor may be�he nomina! party in such praceeding, but Lender shall be entitled to
<br /> participate in the proceeding and to be represented in �the proGeeding by counsel ❑f Lender's ❑wn chaice� and
<br /> Trus�ar will de�i�er, ar cause ico b� deli�eredr to Lender such instruments as Lender may r�ques���om time�to time
<br /> tv permit such partic�pation.
<br /> Compiiance With Laws. Trusta� warran�s �hat �he Pt'operty and Trustvr's use afi the P�operry complies wi�h alf
<br /> exis�ing applica�Ie iaws, ardinances. and regula-��ons of go�ernmenta� authari�ies.
<br /> 5ur'viva� of Promises. AII promsses, agreements, and statemen�s Trustar has made in this L�eed of Trust shaii
<br /> sur�i�e the e�cecu�ion and delivery of this Deed o�Trust, shaII be continuing in nature and shali remain in full force
<br /> and efFec�until such time as Trustor's �ndebtedness is paid in�ull.
<br /> EX15T�NG INDEBTEDf�ESS. The fiollowing p�a�isions car�cet�ning Existing Indebtedness are a part af this Deed vf Tr-ust:
<br /> Existing Lien. The Eien of this Deed ❑f Trust secut�rng the lnd�btedness may be se��ndary and infersor tQ an,
<br /> existing �ien. Trusta�express�y c��enants and agrees to pay, or see tv the payment❑f, the Existing Indebtedness
<br /> and ta preven�any default on such indeb�edness, any defauIt under th�instruments e�idencing such �ndebtedness,
<br /> ❑r any de�ault under any se�ur"rty documen�s for such indebtedness.
<br /> Na Modifcatian. Trustor �halI not enfer into any a�reement with the halder of any mor�-�ga�e, deed of trus�, or
<br /> othe� secursty agreement which has priority o�er this Deed af Trust by which that agreement Fs modified,
<br /> amendsd, ex�ended, or renewed withou� the prior- written consent o�F Lender. Trustor sha!! nei�her request nor-
<br /> accept any futurs ad�ances under any such security agr-eement without the prior written consen�o�Lender.
<br /> CONDE[V�NATI�N. The foIIow�ng pro�isians �elating ta condemnatian praceedings are a part of thxs Deed of Trust:
<br /> Proceadings. If any proceeding in candemnatian is filed, T�ustor shall promp��y not�fy Lender in wri�ing, and
<br /> Trustor shaII pr�omptly take such steps as may be ne�essary �o de�end the action and oh�ain the award, Trus�or
<br /> may be�he nominal party in such pr�ceeding, bu�Lender shall be entitled to participate��the praceeding and�o be
<br /> represen�ed in the praceeding by cvunse� afi its own choi�e, and Trustar will deli�er or cause to be deiivered to
<br /> Lend�r such instruments and documentativn as may be requested by Lender from ti�'ne to time t❑ permit such
<br /> partic�pa�ian.
<br /> Application vf Net Proceeds. �f aII o�-any part of the Property is condemned by eminent domain proceedings ❑r hy
<br /> any proceeding ❑r purchase in l�eu o�candemnation, Lende�may a�its elec�jon requ�re that all ar any portivn of�he
<br /> n�� proceeds of the award be applied �o �he Indebtedness o� fhe repair' or res�oration of-�he Property. The net
<br /> proceeds of the award shaII mean the awa�d after paym�n�o�a!� reasonable costs, expens�s. and attorneys' fees
<br /> incur-red by Trustee ar Lender in connection with the condemnatian,
<br /> IMP�SITlDN �F TAXES{ FEES AND CHARGE� BY G�VERNMENTAL AUTHDR�TIES. The foIlawing provisions relating
<br /> t❑ governmental taxes,fees and charges are a part of�his Deed of Trust:
<br /> Curren�Taxes� Fees and �harg�s, Upan r�equest by Lender, Trusfior shaII execu�e such documents �n additivn to
<br /> this D��d ❑f Trust and�ake wha�e�er�ather action is requested by Lender to perfect and continue Lender's �ien ❑n
<br /> the Rea! Property. Trustor shaI� reimburse Lender fo� a!� taxes, as described below, together with a!! expenses
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