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2� 17�2214
<br /> �E�� �F TRusT
<br /> �G�ntinued} Pa�e 3
<br /> �he maximum paIicy limits sef und�r�he Nafional Flaad lnsurance Pragram, or as❑therwise required by Lender, and
<br /> �o mainfiain such insuran�e�vr the�erm o�th�loan.
<br /> App[ication of Prviceeds. Trus�or shall prompt�y nati�y Lender of any Ioss o�- damage to the Praperty i�F the
<br /> estzmated cost af repair or replac�men�exce�ds $1 r�DO.Q�. Lender may mak� proof of loss if Trustar�ails to do
<br /> so within fi�teen {15} days of the �asualty. V11'hether❑r not Lender`s securi�y is impaired, Lender may, a� L�nder's
<br /> election, receive and retain �he prace�ds of any ins�rance and apply the proceeds �o �he reduction ❑� the
<br /> Indehtedness, paymen� af any Iien affec�ing �h� Property, or the res�oration and repair of the Property. If Lender
<br /> �lects �o appiy �he pr�ce�ds to res�ara�ian and repair, Trus�or shai� �epair ❑r replace the damaged vr destroyed
<br /> lmpro�ements in a manner satisfactory to Lender. Lender shall� upon sa�isfac�ory pravf o�F such expendi�ure, pay
<br /> ar reimburs�T�ustar fram �he proceeds for�he reasonable cos� of repair or res�oration i�F Trustor is nofi in default
<br /> under �his �eed ❑�Trusf. Any proceeds which have not been disbursed w�thin 180 days after their re�eip� and
<br /> which Lender has no�committed to �he �epair❑r res�oration of�h� Property shall be used first�o pay any amoun�
<br /> owing �o Lender und�r�his ❑eed o�Trustr �hen�❑ pay accrued inter�st, and the remainder, if any, shaIi be applied
<br /> to �he principal balance of �he Indeb��dness. I�F Lender ha�ds any proceeds after paymen� in full of the
<br /> Indeb�ednessr such proceeds shaII be pa�d�o Trustar as Trustor's interes�s may appear.
<br /> Comp[ian�e with Existing lndebtedness. During �he periad in which any Exisfiing Indeb�edness d�scribed b�Iow is
<br /> in �ffect, compliance wi�h the insurance pra�isions contained in �he instrumen� e�idencing su�h Existing
<br /> Indehtedness shall consfiifiute compliance wixh th� insuran�e prorrisions under this Deed af Trus�, to the exten�
<br /> cvmp�ian�e w��h �he �erms o��his �eed of Trus# would constitute a duplica��on vf insuran�e requirement. I� any
<br /> prviceeds from fihe insurance be�ome payable on Iass, �he pra�isi�ns in this D�ed vfi Trust for di�isian of proceeds
<br /> shall apply anly�o tha�portion of�he proceeds no�payabI�fa the holder of the Exis�ing Indebt�dness.
<br /> LENDER'S EXPEND[TURES, Ifi Trus�ar �aiIs {A} to keep fihe Property �Fr�� o� aI� �ax�s, Iiensr security interests�
<br /> encumbrances, and ❑�her claims, {B} fa pravide any required insurance on the Praperty, �C} t❑ mak� repairs to the
<br /> Prvper�y ❑r t� �omply wi�h any obligation ta main�ain Exis�in� Indebt�dn�ss in govd s�anding as required belowf �hen
<br /> Lender may da sa. !�F any ac�ion or proceeding is commenced �ha� wauId mate�-ia�ly affec� Lender's int�res�s in the
<br /> Properky, �hen Lender on Trust�r's behaIf may, bu� is na� required for ta�e any a��ion �hat Lend�r beIie�es t❑ be
<br /> appropriate �o p�o�ec� L�nder�s interes�s. AII exp�nses incurred o� paid by Lender �or such purposes will �hen bear
<br /> interest a� the rate charged under the Credit Agreement from �he da�e incurred �r paid by Lender to the date af
<br /> repayment by Trustor. Al! such expenses will become a part of�h� Indebtedness and� a� Lender`s option, will {A} be
<br /> payable on demand� {B} be added to �he balance ❑f the Credi�Agreement and be apportioned among and be payable
<br /> with any ins�al[men�paymen�s�o be�ome due during either {'i} �he t�rm Q�any app�icable insurance poficy; o� {2} �he
<br /> remaining term af�he Credi�Agreemen�r or {C} be�rea�ed as a ballovn paymen�which will be due and payable at the
<br /> Cr�di�Agr�ement`s ma�uri�y. The Deed o�F Trus�aIs❑will secur� paymen�o�these amoun�s. The rights provided for in
<br /> �his paragraph sha�! be in addi�ian �o any other rights ar any remedies ta which Lender may be entitied on account of
<br /> any defauf�. Any such action by Lender sha�E no� be cons�rued as curing �he defau�� sa as to bar L�nder �From any
<br /> remedy�ha�i�o�h�rwise would harre had.
<br /> WARRANTY� �EFENSE❑F T1TLE. The�a�Iowing pro�isivns r�Iating�o awnersh�p af the Praperty are a part o�F this Deed
<br /> o�Trusf:
<br /> Title. Trus�or warrants tha�: �a� Trustar holds good and mark��able �i�le of record �o the Property in fee simpler
<br /> �ree and clear ❑f a!! liens and encumbrances o�her�han �hase set forth in th� Reai Praperty des�riptzon ❑r in �he
<br /> Existing Indebtedn�ss sectian below or in any titIe insu�rance poIicy,titI� repa�~t, or�inal�itle opinion issued in�a�or
<br /> o�, and accep�ed by, Lender in connecfion wi�h�his Deed of Trust, and (b} Trus�or has the full righ#, powerr and
<br /> au�hori�y t❑ execute and deIiver�his D��d ❑�Trust to Lende�.
<br /> ❑efense of T�t�e. 5ubject to �he �xcept�on in �he paragraph aba��, Trus��r warrants and will ��re�er defend �he
<br /> fitle�o the Praperty agains��he lawfuI cIaims �f all persons, In the evenf any action vr proc�eding is commenced
<br /> that qu�s�ions Trus�or's ti�le or the in�erest of Trus�ee ar Lender und�r this Deed o�Trust,Trustor shaII de�Fend the
<br /> ac�ion at Trustor's expense. Trus�or may be the nominal party in such praceeding, but Lender shai� be enti�led to
<br /> participate �n �he prv�eeding and to be represented in the prvice�ding by counsel ❑f Lender's awn choice, and
<br /> Trus�or will deli�er, or cause to be deli�ered��� Lender such ins�ruments as Lender may r�quest�ram time to time
<br /> �o permif such participation. .
<br /> Cvmp[ianc� With Laws. Trus�or warran�s �ha� �h� Pr�perty and Trus�or's use af the Prop�:rty aompIies wi�h aIl
<br /> existing app�icable laws, ordinancesr and reguia�ions of go�ernmental authori�ies.
<br /> Sur�i�ai o� Promises. A11 promis25r agreements, and sta�ements Trus�or has made fn this Deed o-F Trust shall
<br /> sur�ive the execu�ion and deli�ery af�his ❑eed o�Trus�, shall be c�ntinuing in nature and shall remain in fu�l forc�
<br /> and efifec�untiI such�ime as Trustvr's Indeb�ednes�is paid in full.
<br /> EX15T1NG lNOEBTEDNESS. The foIIowing pro�isians conc�rning Existing Indebtedness are a part o�F this ❑eed ❑f Trusf:
<br /> Existing Lien, The Iien of this ❑eed a�F Trus� securing �he Indebtedn�ss may be secondary and in�eriar to an
<br /> �xisfing Iien. Trusfar expressly covenants and agrees fo pay, or see fo th� paym�n�ofr �he Existing Indebtedness
<br /> and�o pre�en�any defaul�on such indebtedness, any default under�he instruments e�id�ncing such indebtedness,
<br /> ❑r any defaul�under any securi�y daGuments for such indeb�edness.
<br /> Nv Modifcation. Trustor shall nvt en�er in�o any ag�eemen� wi�h th� hald�r ❑� any mortgag�, deed ��trus�, ar
<br /> other security agreemen� which has priority o�er this Deed of Trust by which �hat agreemen� is madified,
<br /> amend�d, extended, or renewed withou� �h� pri�r written consen� o�F Lender. Trustor shaff neither request nor
<br /> acc�p�any future ad�ances under any such security agreemen�wi�hou��he prior writ�en consent of Lender.
<br /> CQNDEMNATC�N. The f�flowing pro�ision�rela�ing�o condemna�ian praceed�ngs are a part a�this Deed of Trust:
<br /> Praceedings. If any praceeding in �ondemna�ion is fiI�d, Trus�ar sha�E promp�ly no�ify Lender in wri��ng, and
<br /> Trus�or shall promptly take such s�eps as may he necessary ta defend �he action and obtain �he award. Trustor
<br /> may be the nominal party in such proceeding, but Lend�r shaII be entitled�o participate in the prviceeding and to be
<br /> represented in �he proceeding by counsel of its own �hoice, �nd Trus�or will deliver or cause �a be deli�ered to
<br /> L�nder such instruments and dacumen�afion as may b� r�quest�d by Lender �rvm time �o fime to pe�mit such
<br /> participation.
<br /> App�ication of Net Proceeds. If alI or any par�af fhe Property is condemned by emin�nt d�main praceedings or by
<br /> any proceeding ❑r purchase in �i�u �f cond�mnatian. Lender may a�i�s���c�ion require�ha-�all or any portion o�`kh�
<br /> ne� prac��ds of the award be appIied to the Endebtedness or �he repair or res�oration a�the Prvperty. The net
<br /> proceeds v��he award shall mean th� award af-�er paymen� o�aII reasonabI� cos�s, expenses* and attorneys' fees
<br /> incurred by Trus�ee or Lender in c�nnection with th�condemnation.
<br /> IMP�SITI�N �F TAXES� FEES AN�] CHARGES BY �DVERNMENTAL AUTH�R[TIES. The following pro�isions relat�ng
<br /> �o gavernmen�al tax�s, fees and cha�ges are a part of this Deed of T�ust:
<br /> Current Taxesr Fees and Charges. Upon r�quest by Lender, Trus�or shall �x�cute such documents in addition to
<br /> ��"1i5 ❑eed of Trust and tak�what�ver other action is reques�ed by Lender�❑ perfec�and continue Lender`s lien on
<br /> the Real Property. Trustor shall reimburse L�nder for all taxes, as described �eIowr together wi�h all expenses
<br /> incur�ed in recording, per�ecting or �antinuing �his Deed of Trus�, incIuding withaut limitativn af� taxes, fees,
<br /> documen�ary stamps, and�o�her�harges�Far re��rding or regisfering this ❑eed af Trust,
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