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<br /> DEED OF TRUST P+�° 3 � � r'"'
<br /> 12�30-1998 � -.`-`��
<br /> .• Loen No S5G468 (Continued) �C�^ �ti0 �;_ ����__ ---
<br /> • under the Ibn. In any contest,Trustor s1uN delend'flseN and Lendar and shaN satisry any adverse Judgment belore enlacem�nt spalnst the . , ' '�'4�"'"�
<br /> Properfy, 7rustor sh�ll nAme Londer as an Qddlllonal oblfpae under eny surety bo�d Iurnishad In Ihe contss)proCSedinps. :.,:�
<br /> EvldN�c�of P�ymMt. Truslor ShA�I upon dem�nd furnleh lo Lender satl5�actaY eddonce o}p�ymeM of the tucss a assKSrn�nb snd IhaN _
<br /> � aulhodze lhe epproprlate povemmeNel oMielal to deliver to l.ender at any tima e wtlHen slatement of the texes snd�sses�ment��psinst 1M ,, _ _ -_
<br /> Property, �
<br /> Notk�of Construction. Trustor shall notify Len d e r�t l e as t f i f l e e n(1 6)d�y s b e l a s�n y w a k I s c o m m e n c e d,�n y s�r N c�s ar�ftxnlsMd,a�ny
<br /> rrMt«kb aro supp�'od to tho Properry, It nny mxhen�'s Ibn, mat�rialme�dv�inc��ssunrwys s+►tfstec��a�ndw halT uslor canha d w`tll � .?; I„ .K`A�` --
<br /> ,�� Wrvkvs,or rrwl�ids. Trusla will upon nquost of Lsnd�r hxnhh lo L� der ,;,,;.,'�`,+'��-f,,='-�
<br /> # p�y Ih�cost of such Improwments. ''A
<br /> 'M. ;re;'=,;_-
<br /> ,,,..�++"' � ppOpF.ATY DAMAGE INSURANCE. The IWlowlny provlsions relatlnp to Insurirp ihe Property uo a p�rt of thls Deed of Trust. v���;`-
<br /> �" ''�� MMM��of Inwrr�ce. Trusta shaN procure and rru�Intain pdk�las of flre Insunnce wfth s4ndard ext�ndsd covera��ndors�nwnts on a :,,,,L�,_._
<br /> replacert�nt basts for ths fuM Insurable valus coverinp aN Improvements on the fkal Property in�n amount sufliccient to avdd appNCatlon of any A_�i__-__
<br /> - � cdnsurpncs claube,and wilh n stundud mortflapee C�a►�In favor ol Lender,IopetMr wtlh such olhsr haLrd and IlabNfty insunnC�as Unda' ;••_�=___�_
<br /> � may raasonably require. PoHcbs sh�ll be wdHSn In lorm,amoun4s,covaapee��d basb reasonebly scceptabls to Lender ond k+wd bY q �•-� --`_ '
<br /> r company a companl�s rsason+bly�ec�pl+bN►o Lsndu. Trusta,upon nqua��f Unda,wiN deHwr 10 L�nder hom tim�to tlrrh th�poMdes
<br /> + or cortMlcates of insursnce In form satlsfaetory to Lsnder,Inclucfinp sllpuletlom Ihal Cover�pes wiN nol be cancellsd or dminlsh�d wNhoul at = —
<br /> In hvor o1
<br /> � least lsn(10)doys'prior wriRen notiC�to Lander. E�ch Insurana poucy elso sh�ll include an endorsemenl providinp thal towrap� _
<br /> Lendx will not be Impalred In any way by any act,omisslon or dehult ol Truslor a anY other person. Should the Re��P�oP�Y��iny time —
<br /> become located In en srea desi9nated by lhe Dlrector of the Federal Emerpency Menagement Agency as a speclel eood ha�a�d usa,Truslw _
<br /> a�rs�s to oblain and malntaln Fsd�rol Flood Insur�nc+lor the full unpaid princip�l bslanca ol Ihe loan, up lo tha ma�dmum pdicY MmMS sat _�
<br /> � under th�NaHonal Flood Insursnce Propram,or as otMrwise rsquk�d by Lendr,and to m�int�in such Insurana for Ihe Mrm d th�lan. _ -
<br /> �p p��tlon of procNds. Truslor shaN prornptly norify Lender of�ny loss or d�ma0�to the Property. Lender m�Y�ke P����1O�H Trustor �_
<br /> fafks lo do so withln filleen(16)deys of the Casua�ty Whsther or nof Lender's seCUrity fs Impeired,Lender m�y���Rs electlon�recMw�nd rM��n ;:°----
<br /> .. ihe proceec�of any Insurance and opply Ihe Proceeds to the reducHon of the Indeb�edness,payrt►ent of eny lien affectlnp�he PropKty�a���e � �,:_
<br /> " I restoradon and repak ot the Properly. I}Lender eiects to apply the proceeds to restaation and rspeir,Tr��stor ahall ropalr or nQ�aa�h� ,�.?"
<br /> damaped or Jestroyod Improvemenis In a manner salisfactory to Lender. �ender shall,upon saiisfactory proof of such expmditun,ptY or -
<br /> i r�imburse Trustor hom the proceeds for the rensonable cosl of repair or restaetion If Tmstor is not In delyull under thls Deed ol Trust. Any _�':�,:`_.
<br /> � procesds wMch have not been di�6ursed wiiMn 180 days nfler lheir recelpt and wt�ch Lender has nol commltted to Ihe rapax or rataalbn of i,
<br /> tlw Property shall be used Frst to pay any amount owirq to Lender under thfs Deed of Trust,Ihen to pay accrued interost,md Ihs nrtudndsr,H
<br /> , �ny,shaN be app�ied to lhe P�Inc�P81 balance of the Indebtedness. If Lander hdds eny praeeds aRer paymenl in NII of the Indebtedrwss,suCh �.,-��—
<br /> proceeds shaN be pald to Trustor as Trustor's interesls may appenr• [_..--.--
<br /> ��. Unexplred Insur�nee�t SMe• Any unexpired fnsurance sha�l inure lo the ber�efit ot,and psss to,the purchaser ot the Propsrly Coverod by ihis rxy��- �
<br /> � Deed of Trust at any trustee's sale or other sate held under the provlslons of this Deed of Trust,or at any foreclosure sale d such PropKly.
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<br /> ' ". CpmpU�ne�wlth Exlall�ep Indebtednes�. Duriny the period in whkh eny E�dstlny Indebtednesa described below h In efhct,compliana witA :�'.'`
<br /> �' the InsursnCe provislons contalned in lhe instrument evldencinp such Existinq Indebtedness shall conslilute compliana wi�h th�Insurance �
<br /> - � _ �rnvklons under thls Deed of Trust,to Ihe exlent compllancs wRh the lerms,ol thh De�dcol�+h���xed of Trust for d vls�onaof�praocMds shaN �'-�
<br /> _ _ --�- 1 requlrement. Ii eny ptoceeds hom the�nsunnce becnrrw pbraGro ors��;� ..:c:.-._.._
<br /> , � ; � apply only to that po�tion of the proceeds nol payable to the hdde�of lhe E�:isinp Indebledness• ,.�
<br /> � EXPENDITURES BY LENDER. If Truster fafls to comply wilh any provision of Ms Deed ol Trust, Includinp any obllpation to mainkln E�dsBnp ��,
<br /> ! indabtsdness In good standiny�s required below,or if eny eclion u praceedinU Iscommenad that would m�!erialty a'fNct�l�nderount th�l�l�nd�r �v��
<br /> � � proparty,Lender on Trustor's behalf may, but shaN not be requlred to,lake�ny�ction thaf Lender deems epp opria Y
<br /> �+ expends In so ddry will bear interest d the rate provided tor In the Note hom IM W�e IneuRed or pald by lende►to the dat�of np�yrrwM bY � R
<br /> Trustor. !W such expenses,at Lender's optian,wNl (a)be paYeble on demand, (b�ba edded to the balance o}the Nota end W apputlorwd�morW 4�
<br /> aa
<br /> and bo peyabla with any Installment payments lo bacome due durirq ellhe�' (q the brrn of any appncable Insurance pd�Cy o�(�) 1M►emdnln0 m �
<br /> of the Note,or (c) be treated as s balloon psyment whbh wlll be due snd pay�bie et the Note's maturity. This Deed ol7rusl aFSO wfM s�cure
<br /> intllMd on sx�t of Iha dafault�Anysuch�ic on by�lenpda!sha�not ble const►exdhsa curirq the de(ault so es torb�Len�du�Mom RnY���►M�y« .��
<br /> � It uthsrwise woWd h�ve had. -
<br /> t yy�pqANTyp pEFE�lSE OF TITLE. The fdlowir►p Provislons reletinq b ownership of ihe Property are a part ollhis Desd of Trust.
<br /> Tltle. Trustor w�rtents thal: (e)Trustor holds qood end malkelable title of rlcord to tM Property In fes simple,hw a�d eNu of all I�S�^d
<br /> encumbrances othsr than thoss set foAh In ths Flsd Prap�rty dssc+�Pnon or in the Existlnp Indebtadness seeflon b�low a in�ny tltl�irxurrna
<br /> Fls
<br /> � � p�y�hrye��pa��a�na�tirys ppinion issusd In fnvor of,end accapted by,Lendar in conneCNOn with th�s Desd of Tnnt,�nd (b)Truslor Ms
<br /> •� IuM rfphl,power,end�uthority lo execute and cfeliver lhis Deed of Trust to I.ende�. �t1� =,
<br /> WhnN of Tltle. Subjsct to Ihe exception In the paray��ph sb�ve,Trustor wurants and wlll forever delsnd tha H1M to IM Propsrly W� i l _
<br /> larrful dslms o}�N psrsons. In the event any ac8on a praesdinp 1s commsncsd tlut quesGorts Trustors tittis or tM Intenst ot TnntN or '_
<br /> Lender under thls Deed d Trust,Trustor shaA delsnd the acBon a!Trusta's erpe�se. Trusta may be the nominal puty In such procs«Nnp,bul
<br /> Lander s1wN be endtled to Farl�pate in the proceecNnp and to be reprfrsenled In the proceedirq by counsel ol Lendx's own chole�,and �;�
<br /> Trustor wiN delivar,or cause to be delivered,lo Lender such Inslruments as Londer may request kom Urrn+to tirtw to perm�such p�rtidpadon• d�_-
<br /> CotnplWrce With L�ws. Trusta warnnh Ihat the Properly and Trustor's use ot the Property complies with dl edstinp�ppMCabM 4►ws� —
<br />" „ � ordinances,and reqWaHor�s ol pove►nmental euthoriiies. ���
<br /> D(ISTING INDEBTEDNESS. The tollowiny provisions conceming exisUng Indebtedness (the'Exfstiny indebtedness�an� put of ih�s D�sd ol �_ ^��F __
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<br /> • Trust. :;•• �-
<br /> • Ex�stln0 l.kn, The lien of lhfs Deed of Trust securinp the Indebtedness m�Y be secondary and Inferior to an exfstinp 6en. TrustcX e�ress�Y �;, Y3r�-�
<br /> ` covenants and e9rees to pay,or see ta the payment of,the Exfstirq I�debtedness end to prevent any detauit on such Ind�btednsss.anY d�fautl `��•*.��as.t� _ _:._
<br /> under the�nstrumenls ewdendng such indebledness,or eny default under any seCU�ity documents lor suCh indebtednes�• ' 'F":�a-;='�;:�,-�.
<br /> .;T;' :}��=:-
<br /> Dehufl, II the paymeM of any Inslailment of principal or any Inlerast on theExiSUng Indeb►edne55 i5 not made w��hin IAe tlme requk�d by Ihe "'�?,�ti�.a���:;r�_
<br /> ' 1 �ote evidencing such fndebtedness,or should o delault occur under�he instrument socurir�such Indebtedness and not be ctxed durinfl��Y , �;, :��?'�tt:��-:-`
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<br /> flppliCBble pruce pe��od Ihereln,then,at the option o�lender,the Indebted�ess socured by Ih;s Oeed of Trust shn�� bt�come Immadlatety due
<br /> end payable,and this Deed ot Trusl shall be in default.
<br /> ., I Np ModMcn{p�. Trusta sh�ll not enter into any�preemenl wHh Ihe hdder;�f �ny matflaflo�deed ot trust.or other s9curNy aflrosrt�snt wFAch
<br /> has priorib over thls Oeed of Trust by which that eqreement Is modifbd, eme�ded, extended�a ro"awad`�'�thout the priur w�itl�n co�nt of
<br /> Londer. Trustx shall neither requesl nor�ccept any future advances under any such security eflreement wilhout the D�«wriilen cor�sent of ,
<br /> Lender•
<br /> COMDEMNATION. The lollowing provis�ors r�aling to condemnatfon proceedinps are e pa�1 of this Deed at Trust.
<br /> /�pplkatbn ot Net Proceede. It a,l or any part of the Properly �s condemned by eminent domaln proceedfnps a by eny proceedinq or
<br /> purChase in Iieu o�condemnation,Lender may ol its e�lectiTh f e.Gnf�nercv:aFfdS uf theY ward shall'hmt�antfhe ewer��nher P�Y�1���p�°^°�
<br /> _� Indebtedness Ur tne repair IX rerSiv�a�u���;`o..r;,-.... ..- - - .-,___ --
<br /> cosls,expenses,end attorneys'�ees ircurred b•/Trustoe or Lender In connechonwith ihe condemnaNOn. r �
<br /> I proceedinps. �}any proceeding in condemnation fs filed,Trustor shail promptly notity Lender fn writir�,and Trustor shall p�•�mptly take such I
<br /> sleps as may be necessary to defend the ection end obtain the eward. Truslar may ba ihe nominal parry In such proceedirp,but Lender shall
<br /> • be entitled to particlpate�n Ihe proceetling and to be represented in Ihfi p�oceedinq by counsel ol its ow�chdce, end Trusfor wfN de���x a' i
<br /> cause�o he de��vered to LOndEr such instruments as may be roquested by illrom lime lo timo to permit surh partk�pation. ;
<br /> IMPOSITION OF TAl(ES,FEES AND CHARGES BY GOVERNIAENTAL AUTFqRITIES. The following provlsions re�ating to povommental taxes. i
<br /> fees and charges Aro e part of this Deed o}Trust: i
<br /> Curtent Taxes,Fees+v�d Charges. Upo�i reques�by Lender.Trustar sha�execute such documents in eddition lo thls Deed ot Trust and lake
<br /> whatever other achon is requested by Lender to per�ect and contfnue LenCer's lien on the Fieal Property. Trustor shaa relmburse lender tor all
<br /> ' t3Xes, as doscribed below, togelher with all expenses incurred In reCOrdng,perfeChng or continuing lhis Ue9d al Trus�. Includirp wilhoul i
<br /> limdalian all taxes,fees,dGCUmentary s�amps,and other Charges lor recordr,g or rQgis�ering Ihls De6d of 7rust. I
<br /> Texes. The foilowing shall conshtute laxes to which this secUon applios: la) a spec�fic tau upon this type ot Deed of Trusl or upan au or a��y �
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