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2� 17�25� 1
<br /> . DEE� �F T�UST
<br /> �Cont�nu�d} � Page 3
<br /> �❑ main�ain such insurance�or�he term ot the loan.
<br /> Applicatian vf Prvice�ds. Trustar shaii promp�jy notify Lender ❑f any loss or damage to the Properry if the
<br /> es�imated cost of repair or �eplacemen�exceeds $1,�00.��. Lender may make proo�o�los$ if Trustvr�Fails�to do
<br /> so wi�hin f�fteen {'i 5� days o�the casuajty. Whether or no�Lender's securi�y is impaired, Lender may, at Lender's
<br /> election, rec�i�e and re�ain �he proceeds o� any insurance and apply the proceeds -�o �he reduc�ian o-� the .
<br /> �ndebfedness, payment o� any lien affec�ing the Properry, ar the resfora�ian and r�pai� of the Prope�y. �f Lender
<br /> elec�s �❑ apply the proceeds �o res�ora�ron and repair, Trus�ar shalI repair o� replace �he damaged ❑r destroyed
<br /> Impro�emen�s in a manner sa�is�Factary to Lender-. Lender shall, upan sa�zs�rac�tary praof af such expendi�ure, pay
<br /> or reimburs� Trustar�rom �he pro�eeds �or the reasona�je cas� o�F repair ar res�oratian if Tru�tor is not in detault
<br /> under �h�s Deed o�F Trusf. Any proceeds which ha�e nat been disbursed wi�hin '18� days after fheir receipt and
<br /> which Lender has no� commitfied ta the repair or res�oration o�fihe Properry sha1C be used -Firs�to pay any amaun�
<br /> owing�o Lender under�his Deed of Trusf,�hen fa pay accrued int�rest, and�he remainder, i�any, shalI be applied
<br /> �❑ th� p�'in�ipai baIance ❑f the lndebtedness. l� Lender holds any pr�ceeds after paymen� in `full ofi the
<br /> �ndsb�edn�ss, su�h proceeds sha�I be paid�o Trus�or as Trustor's�nteresfs may appear.
<br /> Compliance wi�h Existing ind�btedness. During the period rn which any Existing lndebfiedness described below is
<br /> in effect, compliance wifh the insurance pro�isions contained in fhe instrument e�idencing suGh Existing
<br /> lndeb�edness shall cons�i�u�e compjian�e with �he insurance pro�ision� under �his ❑eed ofi Trust, to the ex�ent
<br /> a�mpIian�� with �he terms o-��his Deed o�Trust wvuld �ons�itu�e a duplicatian �f insurance requ�rement. If any
<br /> proceeds-From the insuranc� becom� payable on l�ss, �he pro�isions in�khis Deed of Trust for di�isian of pracesds
<br /> shaII appIy only�o'tha�portian o�F�he proceeds not payable�o the holder o�the�xis�ing lndebtedness.
<br /> LENDER'S EXPENDITURES. If Trustor fails {A� �❑ keep the Prvperty free ❑� all taxes, Iiens� security interests.
<br /> encumbrances, and other claims{ (B) to pro�ide any required insurance on�he Pr�perty� �C} �a make repairs �o the
<br /> Pr�perty or t❑ comply with any obliga�ion ta maintain �xisfiing lndebtedness in good s�anding as required beIow, �hen
<br /> Lender may do sa. i�F any ac�ion ❑r prac�ed'rng is cammenced that wouId ma�erially af�Fe�t Lender's interests in the
<br /> Prop�rty, �hen Lendsr on Trustar's hehalf may. hu� is nat required �o� take any action �hat Lender beli�ves �o be
<br /> apprapria�e t❑ protec� Lender's interesfs. All expenses incurred ❑r paid by Lsnder for such purposes will �hen bear
<br /> in�erest at the ra�e charged under the Credit Agreement from th� da�e incurred or paid by Lender to the da�e v�
<br /> repayment by Trus�ar. AII such expenses w�II beavme a park❑�the Indebtedness and, a�Lender's ❑pfion, wi�I �A� be
<br /> payable ❑n demand, {B� be added�o the balance af�he Credit Agr'eemen�and be appor�ianed among and be payable
<br /> w'r�h any insta�jment payments�o become due during either {'�� �he te�-m ❑f any applicable insurance poIicy; or {2� �h�
<br /> remaining�erm ❑f the Gredit Agreerr��nt� or tC} be trea�ed as a bal�aon paymen�which will be due and payable at�he
<br /> Credit Agreemen�'s ma�uri�y. The Deed�af Trust aIso wij�secure payment v��hese amaunts. The rights pravided fvr in
<br /> this paragraph �haII be in addi�ian fio any other rights or any remedies to whi�h Lender may be entitled an a��oun� ❑�
<br /> any de�Faulfi. Any such a�tion by Lender shalI not be canstrued as ❑ur-ing fhe de�aui� so as t❑ bar Lende�- from any
<br /> remedy�hat i��therwise would have had,
<br /> WARRANTY; DEFENSE aF TITLE. The�allowing pro�isians reIating to vwnership of the Prvp�rty are a part❑f�his Deed
<br /> of Trus�:
<br /> TitIe. Trus�or warrants that: {a} Trustor halds gaad and marketable ti�Ie of rec�rd �o the Property in �ee s�mpl�,
<br /> �ree and cIear o� al! Iiens and encumbrances other than those set-For�h �n �he ReaI Pr�perty descriptivn or in the
<br /> Ex"rs�ing �ndebtedness section belavv ❑r in any�ifile insurance palicy,�i�le report, ❑r�inal�i�ie�pininn issued in favor
<br /> of, and accepted by, Lender in �onnec�ion with this �eed o�Trus�r and �b� Trustor has the fuli �igh�� pawerr and
<br /> authority�❑ execu�e and deli�er this ❑eed of Trus��a Lender.
<br /> Defense of TitIe. Sub�e�t ta the excep�ior� in th� pat-agraph abo�e, Trusto�- warran�s and wil! fore�er de�end �he
<br /> fitle t❑the Property agains�th� jawfuI claims ❑f all persons, In�he e�en�any ac�ian or p�oc�eding is �ommenced
<br /> �ha�ques�ions Trus�or�s ti�le ar the int�rest of Trustee or Lender under this Desd of Trust,Trus�or shall defend�he
<br /> ac�ion at Trustor's expense. Trus�or may be�he n�mina� party in such pro�eedingr bu� Lender shal[ b� entiti�d to
<br /> participa�e in �he praceeding and to be represent�d in the praceeding by counsel of Lender's own choice, and
<br /> Trus�or will deliver, or cause�❑ be deli�ered,t� Lender suGh �ns�rumen�s as Lender may request from time to time
<br /> �o pe�mi�such participa��on.
<br /> Compliance Wi�h Laws. Trustor warran�s that the Proper�y and Trustor's use of fih� Praperty complies with ajj
<br /> existing applicalaIe Iaws, ordinances� and reguIatians vf ga�ernmen�al au�ha�i�ies.
<br /> SurvivaI of Pramises. A1� promis�s, agreemen�s, and statements Trustor has mad� in this Deed of Trust shalI
<br /> survive�he execut"ron and delz�ery v�F this Deed of Trust, shaIi be contznuing in na�ure and shalI remain in�uII force
<br /> and ef-�ec�un�il such time as Trustor's Indeb�edness zs pard in fu��.
<br /> EX�STlNG [i�DEBTEDNESS. The�FaIIowing pro�isions con�erning Existing Indebfiedness are a part o�this Deed of Tru��;
<br /> Existing Lien. The lien ❑f �hrs Deed of Trus� securing the lndebtedness may be se�andary and inferior ta an
<br /> exis�ing Iien. Trustor-expressly ca�enants and agrees to pay, ar see to �he payment of,the Exis�ing �ndebtedness
<br /> and to pre�en�any de�aul�on su�h indebtedness, any default unde�the instruments �videncing such indeb�edness�
<br /> ❑r any de-Faul�under any seauri'1y docum�n�s for such indeb�edness.
<br /> �Ia Modifca#ion. Trus�vr shall nat en�Cer into any agreement wi�h �he hojder o� any martgage, deed nf�rus�, ar
<br /> other securi�y agreemen� which has priority over �his Deed of Trusf by which �ha� agreement is mvdified,
<br /> amended, ex�ended, or �en�wed without the prior written consent of Lender. Trustvr shall nei�her �equest nor
<br /> a�cept any futu�e ad�ances under any such security agreement withaut�he prior written cvnsen�of Lender,
<br /> CQNDEIIl1NATi�N. The follnwing pro�isions r�elating to candemnation proceedrngs are a part of this Deed o�Trus�:
<br /> Proceedings. If any proceeding in candemna�ion is fiI�d� Trus�a�- shaII promp��y no�ify Lender in writing, and
<br /> Trustor shal� prampfly take su�h s��ps as may be neG�ssary�o de�end �h� acf"ron and obtain the award. Trustor
<br /> may be fhe nominal party in such proceeding, but Lender shall be en�itied�❑ participafe in the prviceeding and to be
<br /> represen�ed in -�he proceeding by counseI of its own choice, and Trus�nr wiii deIiver or cause �o b� deIivered �a
<br /> Lender such instrument� and documentation as may be reques�ed by Lender frvm time to time �o permzt such
<br /> partEcipa�ion.
<br /> Application of Iliet Prviceeds. l�a11 or any par`�of�he Proper-ty is condemned by eminent d�main proceedings or by
<br /> any proceeding ❑r purchase in jieu af candemna�ion, Lend�r may a�'rts el�ction require that aI� ❑r any por-rion of�he
<br /> ne� proceeds af �he award be appIi�d to �he �ndebtedn�ss or�he repair or restaration of fhe Property. The ne�
<br /> pr�oceeds of�he award shaII mean the award after payment a�all reasonabie cas�s, expenses, and attomeys' fees
<br /> incu�red by Trus�ee or Lendet-in Gon�ec�tion wi�h the cvndemna�ion.
<br /> 1MP��ITI�N �F TAXES, FEES AND CHARGES BY GDVERNII�ENTAL AUTH�RITIES. The �vIIowing pro�isions relating
<br /> �v go�ernmen�al�axes,fees and charges are a part o�this Deed v�F Trust:
<br /> Current Taxes, Fees and Gharges. Upon request by Lenderr Trus�or sha�I execu�e such documen�s in additivn �❑
<br /> this D�ed o�F Trust and�ake whafe�er other ac�ion is requested by Lender�o per�ect and confrnue Lender's Iien ❑n
<br /> the Reai Praper�y. Trustor shaIl reimburse Lender -For all taxes, as described beIow, tog��khe� with aiI �xpenses
<br /> in�urred in re�ording, perfec�ing or con�inuing this Deed af Trus�, including wi�haut Iimi�ation all taxes, �ees,
<br /> documenfary s�ampsr and ❑ther charges for recording or regist�ring�fhis Deed❑f Trust.
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