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ot-15-1999 DEED OF TRUST
<br /> Loan tdo $663f}5 (CanUr�ued) " �9�Q��~�� page 3
<br /> to pay,so tong as lenders Interest in the Proper4y is nat jeopazdixed. If a 6en arises or Is filed as e re5uit of nonpayment,Trustor shap withfn
<br /> fiReen(15)days aP.er the Gon arises or,if a gen is filed�w{t�n firiepn{1S)Qays alFc�Trustor has noUce of the fiNng,sACtxe fhe dfscharpe,o(ttse
<br /> Iien, w it requested t�y Londer. deposf:with Lender cash or a sufficient corporate surety bond or other soccxity saysfaclqy to Lender!n an
<br /> amount sufficient io Cischarge t1�e lien plus any casts and attomeys�Paes or other chargss that could ecaue�s a res�t of a faeclosure or sale
<br /> under ihe lien. In any conlest,Tnufor slsaD defend ttselY and Landar a:id s�►alI says}y any adverse)udpment before enforceme�t apairrsf the
<br /> Property. Trusfa•shaN namg L.ender es an ndditianal obligee u�t,}er any stuety bo�d hxnished in the contest procee�ngs, . .
<br /> Ev6dance ot Paymen6. T;usto:shatl upon demand Eumish to Len�r sattsfactory evtdencu of peyment of ihe taxes or asseumen}s and shaA
<br /> auth�rize!he eppropriats governmentel offlciai to de8ver to lander at arry tlme a writhx�sffi�ment of the taxes and axsessmenhs�a►r�St the
<br /> Prc>pgrty. . .
<br /> Nctice of�ort�atrtsctfpn. Trustor shaq no3fy Lander at feast Rflaen(15)deys before any woric is commenced,anY servicas are furtdshed,cx any
<br /> mateciais are supp6ed !o ttso Property� N eny mechaNC's Ien, mateiislmen's &sn, cx blhar tiee� coutd be esserted on accQUnt o!the work,
<br /> services,or maierials. Tr�tor wiH�on reQuBSt ot Lender furrdsh ic Lend9t edvanCe assurgn�a ggys{a�{pry fo der that Trustcr can and wi9
<br /> PFSY ttra c�t ei such trttpravements. �
<br /> PROPEFiTY DAAAAGE lPtSURANCE. The fallowi �
<br /> n4 Pravisorts reiaHng to Insu�{n9 the ProPertY are e part of thfs Used ot Trust.
<br /> MAairyfarnarece o!tnsurance. 7a�usto►shad procwe and maintaln potldes c(fire�r�surance wtpp�standsrd ex4ended coverage endorsements an e
<br /> repEecement basls tor lhe!uU irx:urable value cew�rinq eR Improvernenfs on the Reel Arop�fy In en amount seHflclenf to avdd apppcatlon ot any
<br /> cdnsurance cfause,and with a stsRdard mwtpagse dause in favor oi Lender. Trtastor shaG also procure and malntaln aom�rehertslvB per�eral
<br /> NabHtty IRStuance in such coveregs emoun�es Lender mey reqt�est wtth trustea and i.ertder belnq narnad as addltlanal tnsureds in such BabMty
<br /> Ir4surarsce popciss. AddjtlonaAy,Trteslor sha! malr�tain such othaf(nsurence, inqudr�g but rco!Brrdted to haiard, business InE�rttiptlon, end
<br /> baier Insurance�as Lend�may r�sonebly rt�qiike. Pclf�adss sMJI be w�ittsn In torm,amounls.coveraqes etnti bashs reesonabfy uxepfabk+to .
<br /> Lencler and Issued t�y a company a ccYrpa:ses reasu,nably ecceplable to Ilander. Tnisfor,upon reQuasl of Lenc+er,wid deifv�to l.endcar trom �
<br /> time io tirtre 4ha polit�es or certiticatcic rd lnsurarx.�in form saBstactory to Lender,lnduding s@puiatlorts that caverap�s will not be canceli,�d or
<br /> diminlshed withQUt at laest ion(t0)days'prior wiitten notics to Lender. Each insurarx�pollcy el�o sha��n�lude an ersdorssment provltAnq that
<br /> caverage in tavor ol lendsr wiN nol be lmnaked in arry way by any act.omisslon ar defat�t ot Trustar or an other
<br /> Prope;ty at a�y Hme become Iocated in an aree dasipneted by ihe Dfrector ot the Federal E Mana Y P�O^• Shouid the iieal
<br /> hazard aree.Trusta agrses to cabialn end maSntaln Federel Flood lrtstuarx�fpr the ft�l u eid�� �nt��a����
<br /> Pak,"1 Hmi4s set under th9 RaUonal Flood iruurance Proyram�or as otherwfSe nD p ���nce ot!he lofln,up t'v�q.��axfmum
<br /> the Iaan. �Q�5y���,m�d ta main�aln such insurance for the tertn ol
<br /> Applltatlon ot Pro'Ceds, Tn.Stor sh&A p,-omptiy notify Lsndor ot any loss or darnaga tu the prpps�ty, Lender may make proof of kiss i�Trustw
<br /> fails to do so wifhin frfteen(15)days of 2he casualty. Whether or not Lander's secttrity fs impaired,lendet may,at its eloc8�n,receive end retain
<br /> the proceeds o!any instnrarx�and apPly the procaeds to the reduction of f.hs Indebtedness.Fayment cl any Ilen al4ecting the Property,�the
<br /> restoration and repair ot the Property, if Lender elecis to apply the proceeds to restara8on end repnir,Trustor shall tepair or replace the
<br /> damaged or destroyed Improvements in a manner satisfactory ta Lendec. Lender shall, «pon sattsfactory proof of such�endlture,oay cu
<br /> reimburse Trustor from tha proceeds for ihe reasonsbia cost of reparc or resloreBon H Trusior Is not in defaul!under thfs Deed of Trust. Any
<br /> proceeds whkh hava not been disburc,�-!•,�•!Ihin 18�days efler their receipt and�vhich Lender hes not committed!o the rephir ar restaration oF
<br /> the Property shall be et�,,ed 5rst to pay any amount m�vlr�g to Lender under thts Csed of Trust,then to pey aCCrued Inigresl,an ,the rem8lnder,if' �
<br /> a�y,shafl oe appifed to tho prindpal ba�ar�ce of the;ndebtadness. H Lander hdds any proceeds aRpr payment!n}ttN ot the In�tedness,SuCh '�
<br /> proceeds shafl b�paid to Trustor as Trusfors interests mgy upGggr,
<br /> U�explred lnsurance et Sale. M u ; �—
<br /> Deed of Trust at eny frusiaa's sale a other saleiheld under the Frovlsior�o ffiis�tDeed af Trust,or a a y:are�a�ure�s�a of such pr�by thls
<br /> Trustor's Repalt on Insurante. Upon request of Lender,however not moro than once a year,Trustor shall lurnlsh 10 Lend�a rspart on each
<br /> existing palicy o(irsurance showing: (a)tha neme ol the insurer; (t:}the risks insured; (c)the emount oi the poGcy; (d)Ihe property lnsured,
<br /> tho then current repiacement vaiue ot such Rroperty. and the manner of determirtfny that value; and (e) the expireUon date of the pclicy.
<br /> P'��haH,upon reG�.�est ot Len�ie•,havs an independent apPraisar satis!aclory lo Ler�d�detennine the cash v&lue replacemgnt cost o!the
<br /> EXPENDITURES BY LENDER. If 7ruslor teils ta comFly with any provision of thls Deed of Trusf,or;f any action or prxesciir.g is commenced Ihat
<br /> wouid materiaily a!fect Lenders intaresi.s:n!ho Property,Londer on Trustor's behaH may,but shai!not be requlred to,take any actlon that Lende�
<br /> deems approprials. Any amauni that L�nder expends in so doirtg wiU bear in!ereat at the rate provided(or in the Nefe hom the dalo tncurted or pafa
<br /> by Lend�r to the dste ot re-,,ayment by Trustor. Atl such,a�pr�,at i.cinder's optlon,wftl (a)be payable on demand, (b)ba addod to 4he balance
<br /> of the Nole and be apportioned ameng and be payabb with e�y t�taUmsnt payments lo becortre due�durfng eitner (i)fhe temt of any applicable
<br /> lnsurance policy or (ii)Ihe remaintng twm of ihe Note,or (c)be trealed as a balloon payment which wip be due and payable at the Note's mflturity.
<br /> Thts Desd ol Trust aiso wiil secure payment ot thess amounts. The rights pro�itfed fcx In this paraQreph shatl be in addtUon to any other righl5 or e�y
<br /> re�nedies fo whkh Lender may be entitled on account of the defautt. My su�h ection by Lender shall not be Construed as euring the detauft so es to
<br /> ber Lender hom any remsdy thaf R otherwise wottd have had.
<br /> WARFiANTY;DEFENSE OF TI71E. The foqowing provtsiUr�rsia8ng to ownazhio oi the
<br /> R'oF�ty are a part of th(s Deed of Trust.
<br /> TMIe. Trustor warranl thah (s)Trustor holds good and marlceable tltle of racord to tho Prpperty in fee yimple�frep 8nd ctear ot aG Iiens and
<br /> encumbrances othe;fhan those set forth in t�r�eal Property desc�iptla�or In erry Ntle insuranc¢ oi Pitlo r
<br /> favor ot,and axepted by,Lender In connectlan with this Dsed of Trust,an� (b}Trustor tias the fup��ht,power,g d a��no�y io toX�cute a�d
<br /> deliver this Deed ot Trust fo lender.
<br /> • Dotense ot Tltfe. Subjec:lo the excsption in the paragraph above,Trustw warrenls and wili f�xever de(end fhe tiUa to the Property agalnst tha
<br /> lawtul clalms of all perso�s. In the eveM any ection or proc�eding fs commenced ihal queshons Trustor's 8tle or the intsresl of Trustee or
<br /> Lender under Ih:s�eed of Trust,Trustcx sha11 defand the aCdon at Tru3t�'s expensg. Trustor mey be Iha nominal party in such nrooeed;ng,buf
<br /> Ler.der shalt be enGtled to participaEe in ihe ¢rrr_�eeding end to be represenied ln the proceeding by Courisel of Lenders own Cholre,end
<br /> Trvstcr wiil deliver,or ceuso to be sfslivered,Sa LenCer such InstrumenLs as�end�rr�ey req�,a,t from nme to tlme tp p�rrtoit such parlicipBUa�,
<br /> �mA��ce Wlth Lnwa 7nutor xarrants Shat thn Property and Trustor's use of ihe Prcperty compUes with etl eX13tlr� BppliCeble lew3,
<br /> ad�ne+�c�s,and reguladons o!govemmenta!authoriUes,
<br /> COHDE7N?IATIpN. Tha following provisions retating to condemria8on procaedir�are e part of this 6eed of Trust.
<br /> Appflcatlon of Ne! Proceee±s. If a1 or any part of ihe Proper{y is condemnad by eminent domflln proceedirtgs pr by any proceeding cr
<br /> purchasc�In Ifeu of condemnadon,Lender may et its e:v�cUon requlre tha!atl or any�rtion of the net procesds cf the award be appiied to the
<br /> Indebtednas.^,pr tFx�repalr or restoratlon of the Propgrty_ i'he n�t proc�ds of the award shall mg2n the ew8rd&fter pAyTr�pnt pf aA r085Cnflble
<br /> costs.exr�ensas,and etlotneys'fees incuned by Trusfee or Lender in connecJon wtth the condemnatiors. �
<br /> ProceedlRps. If any prooeeding fn condemna9on is filed,Trustur shaq prompqy noGfy Lende�In writlng,and Trustor shall promptly take such i
<br /> steps as may bs nECSSSary to dafend the ectlon end obtaln the award. 7ruslrx may be the nominal party irt such pcxeeding,but Lender;hatl �
<br /> be enrided to partiripate in ihe proceeding ar,d So be reQresented fn the proceeding by�pGns�oi its own choice,end Truslef w!!!!cl�iiiver ar
<br /> cause to be delivered to Lender such Instrurnents as may be raquesled py ft from Nme to Hme fo permll such perticipatlon.
<br /> IMPOSITION OF TAXES,FEES AND CHARGES BY GOVERNMEN7AL AUT'F{pRiTIES. The{oil�wing prOVislor�s relatlng to povernmenlel laxes,
<br /> tees and charges are b pari of this Deaed oTTrust:
<br /> Cunent Tmxes,Fees and Charoes. Upon request by Lender,Trus3or shalt execule such documents in addition 90 this Deed ol Trust und take
<br /> whate�er other acGon is requesled by Lendar�o perfect and continue Lenders tlen on the Hea!property, 7rugiw ShaA refmbur35 Lender for All
<br /> , laxes, as described 'oeiow. fogyther with aIl �
<br /> ox?e�ses lnCUrred in recording, �xr{s�ting Cr contlnutng thts Deed af Trusl. Inciuc+lnp without
<br /> Ifmitetien all taxes.fees,decumentary stRmps,and oth�cherggs for rHCOrdfrig pr reqistering this Deed of Trust.
<br /> Taxes. Thg iotfowing shap constitvte taxes to which this sectfon eppiles; �g�8�apfic pyx�pan thts type pf Deed oi Trust or upon eA or any
<br /> part af th@tlr,debtedness socured by this Deed of Tnest; (b)e specHfc}ax on Trtrsta which 7rtt5tpr fs gutt�q�d a r
<br /> he holnder cf the'Nota;�and�dl aured by this fype ol pqed of Trust; (c)a Faz on this type of Deed o!Trust chatpgebla apelnst f�,qeLende�or
<br /> Trusior.
<br /> t sPe+�Bc tax on aq or any porUon of the Indebledness a on peyments ot prindpal aM Interest made by
<br /> Subsequent Taxes. If any tax to wh{ch lhis�ec8on applles i5 anyded subsequent to Ihe date of this Dead o!Trust,thk evertt shall have the
<br /> same eitect as en Event ot 6etaull(as defi�ed below),and lender may pxercfse dny p{en of Hs evallabie remedles for an Event of Defautt as
<br /> proviQed balrnv unless Trustor eRher (a)pxys�he lex before it becprnes cfelinquent,or (b}contests tha tax es provided above in the Taxes and
<br /> L�erts secNon and depos]is wEth Lender cash or a sufficfent capprete stxety bond or ottsec d
<br /> , secwify saasfaciory to Lender.
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