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<br /> � . 12-30-1998 DEED OF TRUST Paqe 3 �'.''''r.
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<br /> � Loen No 856161 (Continued) �(j��s r'�l~�
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<br /> i Intenst of Lend�r undsr lhh D�ed o}Trust,exqpt lor tM Ii�n of l�xos�nd assassmenfs not due,ezcept for fh�existin9 Indebledn�ss referred - --
<br /> t lo below,and except as olherwlse provlded In thls Dead ol Trust, -
<br /> 4 Ripht To Cont�N. Tru�ttor rru�y wllhhdd paymeM of any tax,ass�ssmenl,or clalm In conn�ctlon with a pood Iaith dispute ovK th�obHpltion ''�,
<br /> � to p�y,so Iqrq es Lender's Interest In the Proparty Is nol�eopudiaed. II a Ilon ads�s rx Is eled as a result of nonp�yment,Trustashall withln .�m�,=;.
<br /> . � riffNn(16)d�ys aMr IM INn arises or,it a Nen Is hNd,within Afl�en(16)days afler Tiusta has not�e of the fil!np,secure ths disch�rpe ol the -�.,,s_
<br /> Ibn,a il requ�st�d by Lander, deposN with Lsnder cash or a suMCNnI corpord�sursty bond a olher security salisl�ctory to L�nder In nn
<br /> c amount eufHcknt to discharpe the lien plus any cosls and�8orneys'fees or other chupes that oould sccrue as a result ol a foreclosurA a sale ---
<br /> untMr lFw INn. In�ny contest,Trustor shall defend i2sNf�nd L�nde:end sh�ll satlsiy ony wdverse Judymenl bafore en(orcom�nt epnlnst tha ____
<br /> ...� Prc�ty, Tru�tor sh�N n�me Lsnder as�n additlonal obNpM under any surety bond furnishsd In tM contost procsedinps. _ _
<br /> EvkNnc�af PaymMt. Trustor sh�tl upon demand furnhh to Lender satisfectory eNdence ot payment of the taxes or essessmenb and shnll
<br /> � �uthorlie the�ppropriate povernmental ofHClal to deliver lo Lender at any time e wrlHen stalement of the texes and assessments�painsl!he =
<br /> Propsrty.
<br /> g' �J Motfc�of Construellon. Trustor shall nolify Lender at le�st flReen(16)deys befwe any work Is commenced,any senAces are iumhMd,a eny _.
<br /> 1 mikrials an supplbd to the Property,if any mechanb's ibn, materialmen's Ilen, or other Ilen could be asseried on account W tM work,
<br /> � serNCes,a materfals. Trustor wiil upon request of Lender lurnfsh to Lender advence assurances satisiactory to Lender that Trustor can and wlil ---
<br /> ;; pay tho cost of such Improvemonls. �
<br /> - PROPERTY DAMAGE INSURANGE. The followinfl provislons relaUrp to insuriny ihe Property are e pert of thls Deed of Trust. _
<br /> a� Mainbn�nc�of Inwr�nce. Truslof shail pfoCU�e flnd melntaln poIlCles of Iire Insurflnce with standard exfended coverege endorsemenls on n =_
<br /> rapl�oemsnt basls lor ths full Inswoble vtlue covorirp all Improwments on tiie Rad Propsrty In an nmount suf�clenl to avold appUaYon of any
<br /> �, cdixunnce dawsa,�nd wNh a cG�ndard mortyspso clauq In favw of Lend�r,top�th�r wfth such oth�►ha�rd�nd Nabllity I►uurrnaas Lmder
<br /> may rs�sonabiy requke. Pdicks shall be wrltlen In form,amounts,covarapes�nd b�sFs roason�biy�xeptabb to Lender�nd bswd by�
<br /> campRny or eomp�nks rs�sonably e�cceplabN tA Lsnder. Trustor,upon rsqu�st ol Lendsr,will doliwr to Lender kom tlrrN to tlma Iha paAcios f,.
<br /> r or certiticates of Insurence in form safishctory lo Lender,Inctudinp stiputaflons that caverapes wNl not be canceNed a diminlshed without at _ _
<br /> � least ten(10)days'prior written not�e lo Lender. Each Insurance pdky also shaM intlude an endorsement providinq ihat coverep in hvor of r`
<br /> Lender will not be Impaked In any way hy any ect,omisslon or de(ault of Trusta a wny other person. Should the Re�l Propertyd any Hme r l
<br /> � become�ocated In an aras designated by lhe Dlrector ol the Federnl Emerpency Menaqement Aqency as a speclal Ilood harard uw,Trustor _
<br /> �Y aprees to obtaln rnd rru�lntaln Federal Flood Insurance for the full unpeld principel balance ot lhe loan,up to the maxlmum pdky lirdts sel
<br /> '� undsr fhe Nallonal Flood Insurancs Propram,or as otherwise rsqulred by Under,ind!o malntain 6uCh Insur4nce lor Ihe iWm of tFNlo4n. -
<br /> Appllcatbn of Prxseds. Trusta shall promptly notlfy l.ender of any loss or damape to the Prope�y. Lender may maks proof of loss ff 7rustor
<br /> fa�b to do so withln IlReen(16)d�ys of ihe casualty, WFwther qr not Lender's security k Impaired,Lender may,at Ils slectlon,raCO1N and retaln _,
<br /> the proeoeds of any insurance end appiy the procaeds to the reductlon of the�ndeb:edness,payment of any Nen eMecling the Praperty,or the
<br /> rastaation and repdr of the Propsrty. If Lender elocls to apply the proce�ds lo restoratlon end rop�ir, Trustor shall rsp�lr anplaa tlw �s:�
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<br /> �� � damaped or destroyed Improvemants in a manner satisfectory ta Lender. Lender shall, upon sarisfactory proof of 6uCh expancNlurs,pay a
<br /> � � '� relmburse Trusta hom the prxaeds fa ihe reasonable cost ol repair or restore8on M Trustor is not in def�ult under lhis Deed otTruat. Any
<br /> proceeds which have not been disbursed within 190 days after lheir recelpt and whbh Lender has not commltted to the repek or nstonBon of =�=
<br /> � tM Prop�rty shall be usad Ilrst to pay any emount owlnp to Lender unde►this�eed of Trust,then to pay axrued intarest,and the�wnalnder,If �
<br /> . a�����w°���aFn�������r.��irpi F�giarv;p nl f�,a Indphledness. If Lender holds anv proceeds efler peyment In full ot the Indebted�ese�SUCh Fr
<br /> � �' proceeds slwll be pald to Trustor as Trustors Interests mty appear. �
<br />- • llnexplrW Inwr�nte d SMe. Any unexpirsd Iresuranca shall Inure to Ihe benefit of,and pass to,the purchaser o1 the Properly co+wed by thls �r
<br /> Deed of Trust at any trustee's sele or other sab held under lhe proNslons of this Oeed ol Trust,w at any loreclosure ule of such PropKty.
<br /> �� ComplUnc�wlth Existlnp Indebtedness. Duriny the perlod In whlch any Existinp Indebtedness described below Is In eMect,compNnna wI►h
<br /> �• � ; ihe Insurancs proWsions contelned in Ihe Inslrument eNdenciny such Existinp Indebtedness shall constitute compllance with 1M Ir»urance
<br /> _ • provisions under this Deed of Trust, io the exlent compliance with the terms of this Deed of Trust would�onstitule a duplk.+tllon d Insurnnca
<br />= requlremenf. If any prxeeds from the insurence becomo payable on loss,fhe provlsions In lhis Deed of Trust for divfsian of proce�ds sluN
<br /> • � � apply only to that portion of Ihe proceeds not payable to tho hdder of Ifb Existinq Indebtadness.
<br /> � ', EXPEMDITURES BV LEMDER. M Truslw fely to comply with any provislon of thfs Desd o}Trust,Indudlrp �ny oblfpadon to mainWn[xisdrq
<br /> '• ' � Indebbdr�in pood slanWnp�s rsqulrsd bNow,or M eny acMon or procNdirq fs commsnc�d that woWd rt�te�t�My�M�cf L�ndK's InW�sls In 1M
<br /> � � °� Prq�srty,Lender on Tnntors bshaif may,bul shaN not bs nqulrsd b, take any�ctlon lhat LsndK dwms approprlats. Any�moud Ihat Lsnder
<br /> e�nds in so ddng will b�ar interesl at tM rats proWdsd for in the Credit Aqrsemsnt kom lfN d�N incurrsd c�r pald by lendK to th�dat�d
<br />_S_ . � repayment by Trustor. All such expenses,at Lendsr's option,wiN (e)be pay�bk on d�mand, (b)bs added lo ths beltnce of the credl lne�nd be
<br /> �,,.E;:'� _ appixtloned amorp and ba payable with any InstaMment payments to bscome dus dudnp�ilher (q th�term of�ny appMc�bk Insunnp poMcy o► (9
<br /> ' the remalninp term of the Credit Apreemenl,or (c)be treeted as a balloon payment wh�h wiM be dus and peyabb at ths G�dill�pr�msM's
<br />-_h �� , meturiry. This Deed of Trust also will secure payment of these amounts. The rfphts providsd for In thls parapreph shaN be In addilfon b any other
<br /> �- �j riphts or any remedles lo wh�h Landa may be snHtled on�xount of iha default. Any such eCtion by lender shaN not be con5trusd u curinp tho
<br /> � deftull6o es lo bu Lender hom any r�medy thqt It otherwise would hwe hid. —°
<br /> � � yyAqqANTY;DEFENSE OF TITIE. The foNOwinp provislons relaNnq t0 ownership ot the Propwiy sre a pert of this Deed of Trust.
<br />— Tltb. Trusta wertants that: (a)Trusta hdds good and marketeble 6He of recad to ihe Properly In tee simpb,free and dear d oM �s�nd --
<br /> � ,� encumbrances other than those set torth In the Real Properiy desc�iptlon or I�Ihe ExJSlin�Indebtedness sectlon below or In�ny�iraurarxe -- -
<br /> ,. , r{pht po er,end aulhority ta'exec e�dl deUver thh Dsad o�f Trus to�Len��n connectlon with thls Deed of Trust,and (b)Trustor h�s the —
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<br /> ' ..'�,� �r Wfen�of Tlth. Subject to lhe exceptlon In tFw panyraph above,Trusto�warr��ts and wiM forwer delend lhe titls to lhe Prapary�pinst fhe
<br /> kwful clalms of a!I persons. In ihe event any �ction or proceedinp Is coms►encad that quesNOns Trustor's titls or Ihs Intenst d Trustee or —_
<br /> ' lsnder under thls Deed of Trust,Trusta Shall defend the acHon at T�ustor's expense. Trusta may be the nominal perty in such prasodirp,but --
<br />- Lender shaM be entitled to partklpata In tlw proceedirq and to be reprosentsd In the prxeedinp by counsel of Lender's own chaky.�nd
<br /> Trusfor will deliver,or cause to be deliverad,to Lender such instruments as Lender mey requsst hom tlme to Hms to permN such puticlp�UOn. �'-
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<br /> Cwnpll�r►ce WHh Lews. T�ustor warcants Ihat the Property and Trustor's use of the Property complies with all existlnp uppYCabM laws. -_-_
<br /> ordinances,flnd regulallons of povernmental euthaities. - -
<br /> EXISTING INDEBTEDNESS. The following provisions conceminp existing indebtedness(the'�xisting Intlebtedness")are a pert ol lhis Qeed ol - _
<br /> Trust. -
<br /> Exlstlnp Lbn. The Iien of this Oeed o1 Trust securinp Ihe Indebtedness mey be secondary and interior to en existiny lien. Truslor uxpressiy '
<br /> " covenants end e�rees to pay,a see�a tAe payment of,Ihe Exisdng Indebtedn�ss nnd to prevent any defauli on such Indebtedrwu,any ciolaull
<br /> � , under ihs instrvments evidenclnp such indebtedness,or any dehult und�x any sectully doCUmenls for such Indebtedness.
<br /> � No Modlffcsllon. 7rustor shall not eMer Into any ayreemertt wfth tM hdder of�ny mortyaps,deed of trust,or othsr secwity a9rNrtiee�whkh
<br /> _ ,� h�s priority ovt+r thls Deed of Trost by whlch Ihat�greement fs modiffed,emanded,exiended,or renewed without the p�ior writlM consent of „
<br /> J � L�ntfer. 7rustor shell nefther requesl nor accept any fulure sdvances undx any such security��eement wHhout lhe prior w�i1Mn con'..ent of
<br /> Lender.
<br /> CI�InE�aMAT10M_ The foHowlna nrovi�.,lons relallnp lo CondemnaUon proCeedinps aro a part o}thfs De�►d Gf Trust.
<br />_ � Appllcatbn of Net Proceeds. If all or any part oP the Property Is condemned by eminent domain proceedir� or by any pro.,^�eedinp or
<br /> � purchese in lieu of condemnafio�,lender may d ils election require thal aR a�ny paiion of lhe nel proceeds of the eward be opplied to iho
<br /> Ind6t)ledness or lhe repalr pr resloratlon of the Proporty. The nel proCe6d5 0l the sward shall mAan the award atter payment of d re�sonehie
<br /> - ! c05ts,exp6��ses,end attaneys'fees inCUrred by Truslee or Lender in connection with ihe condemnetlon.
<br /> J ProCeldlnp7. If eny proceedinfl In condemnation Is fited,Truslor shall promptly notity Lender in writing, end Trustor sha!!promptly teke such �
<br /> . '� sleps ns mey be neaessory to detend Ihe oCtion and obl3ln thf�ewartl. Trustor may be the nominal pa�ty In such proceecNnp,bNLend�shall j
<br /> be entitled lo participate In the proceedinq end to be reprssenled in tho proCeeding by counsel ot Il5 own ChoiCe,flnd Trustor witl deliver o� �
<br /> I cause lo be delrvered lo Lender such Instruments as rray be requested by it kom time to time to permit such participalion.
<br /> IMPOSITION dF TA%ES,PEES AND CHARGES BY GOVERNMEMTAl.AIJTHORITIES. The lollowing provisicns relating lo governmen�al taxes, !
<br /> lees and charges are u part ul Ihls Deed of Trusl: (
<br /> Curront T�xes,Fees s�d Charges. Upon request by Lender.Truslor shall execute such documents fn ndd�lion to this Deed of Trust 9nd IaGe �
<br /> � whatever outer ecuon�s re�ues�ed by Lender to perfecl and canlinue Lender's lien on Ihe Real Propeity. Trustor shaN relmburseLervJer for a�l I
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