201702353 - Laserfiche WebLink

Browse

2� 17�2353 DEED �F TRUST Loan No: 1 D'13�4D3'I ��ontinued} Pag� 5 payments to become due during ei�her �1} the te�m of any applicable insurance pvlicy; ar �� he remaining �erm of the Note; ❑r �C� be �treated as a ba��oon payment wh�ch will be due and payable at�he No�e's maturity. The Deed of Trust als❑ will secure payment ❑� these amounts. Such right shall be in addition to all ❑ther righ�s and remedies �o wh�ch Lender may be en�itled upan De�ault. WARRANTY; DEFENSE DF TETLE. The fallowing pra�isions relating t❑ ownership o�the Property are a part❑f�his Deed ot Trust; Title. Trustor warran�s that: {a7 Trustar hvlds good and marketaiale tzt�e o� record to the Proper�y in fee simple, �ree and �lear of all liens and encumbran�es other fihan �hose set farth in the Real Proper�y desc�ip�ion or in any title insurance pvlicy, ti�le report, or final title ❑pinion issue�l En �a�or vf, and accepted by, Len�ier in cannectivn with thEs Deed of Trust, and �b� Trustor has �he full righ�, power, and authari�y�o execute and deliver this Deed of Trust t❑ Lender. ❑efense o� Title. 5ubject t❑ the exception �n fihe para�raph abo�e, Trus�vr warran�s and wii! fore�er defend the t€tle to the Prvperty agains�the lawful claims of all persans. In the e�en� any action ❑r praceeding is commenced that questions Trustor's �itle or the fn�eres�o�Trus�ee or Lender under this Deed of Trust, Trustor shall de�end the action at Trus�ar's expense. Trus�or may be the nominal party in such proceeding, but Lender shall be enti�led to participate in �he p�oceeding and t❑ be represented in �he prv�eeding by counsel ❑f Lender's awn ch�ice, and Trus�or will de�i�er, or cause tv be deli�ered, ta Lender suGh instrumen�s as Lende� may request�rom time to time ta permit such part�cipa�ivn. Compliance VIlt#h Laws. Trustvr warran�s that �he Property and Trus�or's use �� the Property complies wi�th all �xis�ing applica�le laws, ❑rdinan�es, and regula�ions of go�ernmen�al authorities. Surv�Wal of RepresentatEvns and 1JVarranties. A�I representativns, warranties, and agreements made by Trus��r in this Deed of Trust shall sur�i�e th� execution and deli�ery of�his Deed o�F Trust, shall be continuing in nature, and shall remain in full �arce and effect unti� such time as Bo�rower's �ndebtedness shal� be paid in full. ��NDEMNATI�N. The�vllowing pro�isions re�ating�❑ condemnativn praceedings are a par�ofi this Deed of Trust: Prviceedings. �f any proceeding in condemnation is �ifed, Trustor sha�� promp�ly notify Lender in writing, and Trus�or shall promptly take such steps as may be necessary to de�end the acfian and ob�ain the award. Trustar may 1ae the nominai pa�ty in such prviceeding, but Lender shal� be enti�led to participate in the prviceeding and�o be represen�ed in the pracee��ng by counsel ❑f its own chaice, and Trustor will del��er vr cause �a be deEi�ered to Lend�r such instrumen�s and do�umen�a�ion as may be �eques�ed �y Lender from time to �ime ta permit such par�icipation. . App�ication of Ne� Pro�eeds. lf a�� or any part af�he Property is condemned by eminent domain p�oceedings vr by any proceeding or purchase in lieu of condemna�ion, Lend�r may afi its e�ection require�hat all vr any portion ❑f the net p�-oceeds of the award be appli�d to �he Indebtedness or the repair or �estvration ❑f the Property. The ne� prv�eeds of the award shall mean the award af�er paymen� ❑f all �easonable cas�s, expenses, and attorneys' #ees incurred by Trustee vr Lsnder in �vnnect�an wi�h the c�ndemnafiian. [MP�5ITI�N OF TAXES, FEES AND CHARGES BY G�VERNMENTAL Al1TH�RIT[ES. The following prv�isions relating �❑go�ernmen�a3 taxes, �ees and charges are a par�of this Deed of Trus�: Gurren�Taxes, Fees and Charges. LJpon reques� by Lender, Trustor shall execu�e such dvcuments in addition ta �his D�ed ❑f Trust and take wha�e�er vther ac�ion is reques�ed by Lender to perfect and continue Lend�r's lien ❑n the Reaf Prope��y. Trustor shalf reimburse Lender for ai� taxes, as described below, together with a!� expenses incurred in re�ording, perfe�ting or continuing �his aeed of Trust, �ncluding w�thaufi limi�atfon all �axes, fees, documentary s�amps, and other charges �ar recvrding ar regis�ering this Deed ❑fi Trust. Taxes. The to�lawing shall cons�i�ute �axes to which �his section applies: �1 y a speci�ic tax upon �his type ❑f ❑eed of Trus� or upon all or any part ❑� the Indebtedness secured by �his Deed ❑f Trust; ��y a speci�ic tax ❑n Borrower which Borrower is autharized ❑r required fio deduct �rom payments on the Indeb�edness secured by this �ype af Deed af Trus�; {3} a tax on this type of ❑eed of Trus� chargeabie against the Lender ar the holder vf�he Nflte; and {4� a specific tax on ali or any portion af the Indeb�edness ❑r on payments o� principal and in�er�st made hy Borrvwer. Subsequ�nt Taxes. If any tax t❑ which fihis section applies is ena�ted subsequent ta the da�e of �his ❑eed ❑�F Trust, this e�ent shall ha�e �he same ef�fec� as an Euent o� Default, and Lend�r may exercise any or a{! vf i�s a�ai�able remedies f�r an E�ent v# aefauit as pro�ided be�vw unless Trustor either ��} pays �he tax befivre it becvmes de�inqu�nt, vr �2y contes�ks �he tax as prv�ided abave in the Taxes and Liens section and depasits with Lender cash or a sufficient corpara�e surety laond or other security satisfac�ory�o Lender. SECUR�TY AGREEMENT; FINANC[NG STATEMENTS. The following pro�isiflns relating to this ❑eed of Trust as a security agreement are a part of th�s �eed v�Trust: Se�urity Agreement. ThiS ins�rument sha�� cvns�itute a Securi�y Agreement t❑ �he extent any �f the Properfiy �vnsti�u�es fix�ur�s, and Lender sha�� ha�e ali of the rights ❑f a secured par�y under the Uniform Commercial Code as amended��om time to�ime. Security lnteres�. Llpan requesfi by Lender, Trustor shall take wha�e�er actian is �equested by Lender �❑ pe��ect