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07��;,-1999 DEED r.1F TRiJST } ��` �Q���s Pxge 3
<br /> Lo�n �Oo 86681 d (rvntlnued)
<br /> to pay,so lo�es Lende�s Inter�s!irt fhe Property k not Jeopar�iZed. It a Isn�rises or�S fited ss a result of nonpayment,Trustor shall wiihin
<br /> �rHOen(15)days aNer the lien arises or,if a Uen Is nied,witMn fitleen(1S)days aRe►Trustor hes noNce of the flling,seetue the discharpe of the
<br /> lieR,or it requested by Lender, depasil vnYh Lender cash or a su�ident corpaate surely bond a otrter sec�ity saUsiectory fu Londer In an
<br /> amount sufficient to dlscharge the qen plus any costs arr.i 8tlorneys'fees or o!her charges thet CoWd eCCrue es a rBSWt ot e foreClosure or 5ale
<br /> under the Gen. In any contest,Trustor shaM dafend Rsetf encr'Lender and sha9 satis4y any adverse judgment befor�snforCement agafnst Ihe '
<br /> Property. Tru,ta shatl name Lender as an adc5tior�al ob8geg under arry'st�rety bond fumtshed in the contest proceedings.
<br /> Evldtnce of Payrr�r�t. Trus!or shaA upon demand hunish fo Lender sa�sfactory ovidence ot payrt�anl ot tha taxes or assessr.ients and shali
<br /> authwize the appropriate govemmen4at offidal ta delivsr to lender et apry Hme a writtsn s4atement of the taxes and essessments apa'�ut the
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<br /> Pro�sarty.
<br /> Nctice of Corts4ructlan. Trusto�shaA rrotify Lendar at laasf fifteen(15)days betore any work is commenced,any services are fumished,a any
<br /> malerfats are suppi'�ed to the Property, if any mechanic's�rs, matarisimen's lian, nr ott�r lien co�l� ba ascerted on accaunt ot the worfc,
<br /> �,or matsrials. Trustor wiU upon request of Lern'f8r ftrmish to Lender advance assurances sat151ectory to Lender�Fat Trustor can and wilf
<br /> pay the cost of such improvemenls.
<br /> �FiQPERTY DAMAG�INSl1RAP1C�. "�ha tdtow(rog provisior�s reladng to ins the Proper',y are e pari Qt this�Jeed of Trust.
<br /> Mal�tenance of i�sutance. Trusta shall procure ertd mainta4n paifcies fve Insurance with sfandard extended co�erage endorsoments on e
<br /> replacement basis fa the tuA irtsurrshle value covering aA Improvemenls the Reat Prop�rty in an amount suffident to avoid appilcatloi�of any
<br /> cQinsurar.ce clause,and wtth a sta�derd mortpegae deuse In tavor of . Trustor shsN also precure and malntain compreher�qeneral
<br /> liabitity fnsuranc�ir,such cove�a�o amounts Qs Lend�may requast w'1h t�a and Lender bafng named as addMonai�`���In such @itbmty `
<br /> Insurance policie,. RddiSonaAy,TruetQr shaA malntein strfi other ins inclu�ng but not Iimtted to ha�rd, bus�ass Mtertupdan, and �
<br /> bailer lnsurance,as Lender may reasonably reguire. Pdlcies shali'be n In form,amcunts,coverepes and besis reasQnably acceptable ta
<br /> Lender nnd issued by a company or companies reasonably exspiabie tender. Trustar,upon request of Lender,�ritl de�'iver to lender from
<br /> time to time the pelicies or certifrcates of(rtsurar�ce i�s form sxtlsfactay to:.�nder,induding sitpuls8ons that coverages witl nat be cancelled or
<br /> diminished witheut at Is3ast ten(10)deys'prior written notice to Lender. Each Insvrance pol(cy ako shaA Include an endorsement pr�vfding thet
<br /> coverage in favor of Lender wiil not be fmpaired in any way by eny eci,omtsslon or defaull o!Trustor or any olher person. Should ihe Real
<br /> Property at eny tlme become located in an area desipnaied�y!he D�reclor of!h�Faderel EmgrgenCy ManBgembnt AggnCy as fl speciel flood
<br /> hazard area,7rustor agrees to oblein and malnfain�ederaJ Ftood Insurance for thcs futl unpaid p�lncipal balan�t of the loan,uR ta the maximum
<br /> policy Iimits scf undar the Nallonal�lood Irtssxance Program,or as othe�wisa requlred by Lentfar,end to malnlaln such lnsurance tor the term of
<br /> fhe loan.
<br /> ApplVcatlon ot ProGeetfs. Truslor shaii prom�Uy notity Lends�oi eny lass or damzgo td the ProFerty. t.endsr may make proof of loss if 7rusior
<br /> fails lo do so within fifleen(15j day5 of ihe Casualty. Whether c�r not Lender's security is impaired,lender may,at its elecN�n,receive and retain
<br /> the proceeds of any insurance and appty Ihe procesds to the roduction of the Indebledness,paymenl oi any Oen aflecfing the Properiy,�r 1he
<br /> resioration and repair pf the Property. If Lender e{ects to apply the procea�s lo restoratfon end repskr,Tr!JStor shali repair or replace the
<br /> damaged or destrcyed Improvements in e manner sadsfactory to Lendcx. Lsnder shaU, upon SaHsfactory proot of such expendi4ure,pay or
<br /> relmbursa Trustor hom the proceeds for ttis reasonable cast of repair a resloreBon!f Trustor�S nol In default under lhis Deed of Trust. Any
<br /> proceeds wh3ch have not been dfsburled wfihin 18J days after their recelpl and which lender has not committed to Ihe repatr or restoraflon ot
<br /> ; the Prcperty shall be ussd firs!lo pay any amount owing to Lgnder under ihis Daed of Trust,ihen to pay accrued I�terest,and the rernainder,if
<br /> i any,shali be eppiied to the principaf Eaance of!he Indebtedness, i(lender holtfs any proceeds after payment in full of the IndeDtodness,such
<br /> proceeds shall be paid to Trustar as Trusto�'s intares�may appe�ar.
<br /> Unexpired Insurance et Sals. Any unexpired Insurence shati inure to the beneflt of,and pass fo,the pu�Chaser of the Proporfy covered by this
<br /> : Deed of Tn.�st at any tr�r�lee's saie or other sate held under ihe provislorU of thls Deed of 7rusf,or a4 any foreclosure sale o(such Property.
<br /> � Trustor's Report on Irnsurance. Upon request ot Lender,however not more than ance a year,Trustor shall furnish to Lender a repor!on each
<br /> exisling polfcy ot insurance showing: (a)iFw name of ihe Insurer; (b)the risks insured; (c)the amount ot tfre policy; (d)the propqrty insured,
<br /> lhe fhen current rep43cemeni value of such prnperty, and the manner of determining tt�at value; and (e) the expiration date of the policy.
<br /> ' Trustor shalt, upon rryquesl of Lender,have sn independent appra�satlsfaclory to Lender determine the cash velue replacement cost ot the
<br /> � Property.
<br /> � EXPENOITURES BY LEI9DER. �f Tr��stor fails to comply with any provision of this Qeed of Trust,or if any actlon or proceeding(s commenced ihat
<br /> would materialty aHect Lende�s i�lerests in the Property,lender on Trustor's bshali may,but shatl not be requlred to,take�ny acHon that lender
<br /> deems appropriate. Anry amount that Lendar e�ends tn so dotng wili bear interest at the rate provided for in the Note hom the date fncu►red or paid
<br /> by lender to the date of repayment by Trustor. A►I such expenses,at Lende�'s opi�on,will (a)be payabte on demand, {b)be added to tha betance
<br /> ot the Ndte and be apportf�ned among and be payable with any Installment payments to become due du�ing ekher (i)the term of any ap�iicable
<br /> insurar�e policy or �i)the remaininQ term ot the Note,a (c)be treated as a balloon payrtv.�nt whkh wiq be dus a�d payabie at the Note's mafurity.
<br /> This OeEd of Trust also will secure payment of lhese amounts. The rigtits provided lor in Ihis paragraph shail be in addition to eny other righis or any
<br /> remedies to which Lander may be entltfed o�axount of the detauB. Any such acHon by Lenttflr shall not be corntrued as curing the defautl so as to
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<br /> bar Lendt3r from any remedy that it otherwise wo�id have had.
<br /> WARFiANTY;DEFENSE OF TITLE. The(ollowing provisions reialing to ownarship of the Property ere a part of Ihis Deed of Trust.
<br /> Titlt. Trustor wartants that: (a)Trustor holds good and marketabie title of record to fhe Property in fee simpie,hee and clear oi all Ifens and
<br /> encumbrancss oiher than thoso set forth in the Real Property desc�lpHon or in any tltle insurance poticy,Ufle repo�l,or final title opinion issued in
<br /> lavor of,an�acceptad by,Lender in connectlon with ihis Deed of Trusl,and (b)Truslor has the fuH riqht,power,and euthority lo execute and
<br /> deiiver this 6esQ of Trust to Lender.
<br /> Deftnse ot Titie. SubJect to the sxceptfon In the paragraph above,Truslor warrants and wStl fcxever detend the title to Ihe Property agalnst the
<br /> lawf�l claims of ail persons. In the event eny acHon or proceeding is comm�nced ihat QuesHons�ruslw's rit(e or the inFaresf of Trustee or
<br /> Lender under fhis Deed o!Trust,Trustw shali defend ihe ec8on at Trustor's experise. Trustp rnc�y be ihe nominal pe:ty In such prxeeding,but
<br /> Lender shall be entiUed to participate In the proceeding and!o be represented in fhe procFeding by counsel of Lsnder's own cholcs,and
<br /> 7nlstor wilf de�`iver,or cause to ba detivered,to Lender such Insiruments as lendsr rt�ay requesl from time to Hme to permi:SuCh pertfClpeBo�.
<br /> Compliance Wlth Lews. Trustor warean�s thsl the Property and Trusfa's trse of the Property compGes wiih aA exlstfng appliCable la�n�s,
<br /> ordinances,and reguiations nf governmenlal authorities.
<br /> CONREMNATIOId. The foAowing prp�isians relating 10 condemnallon proceedings are 8 part of thfs Deed o(Trust.
<br /> Appilcatlon of Net Proc�eds. If ail or any part o(the Property fs condemned by em(nent domal� proceed(ngs or by any proCeeding or
<br /> purchase tn lieu af condemnnHon,Lender may at fts elecHon requfre that aN or arry portion of the nst proceeds of the ew8rd be epplled to the
<br /> Indebtednes;or!he repsir or restoraUon ot the Prope�ty. The net p�oc�s of the flwartl shaN mean the award after peyment of�H reasonable
<br /> cosis,expenses,and attorneys'tees Incurred by Trustes or Lender in r,onnecUon with the condemnailon.
<br /> Proceedings. II any proceeding In condemnation Is filed,Trustar shaN promptly notify Lendor In wriUng,and Truslw shalt promp!!y take such
<br /> steps as may be necessary to delend the acGon and obtain the award. Truslor may be the nominal party in such proceedin�,buf Lende+shall
<br /> ba entitied to parf�cipato in ihe proceedfng and lo be represented in the proceed(ng by counsel of fts owi�cholce,and Trvstor witl delNgr ot
<br /> ceusr3 to be delivered ta I_ander such(nstrumen�s as may be requesled by H korn Hrr�to dmo to permit suCh paRfclpeHon.
<br /> IMPOSITION OF TAXES,FEES AND CHt�RGES BY GOVER!!NlENTAL AUTFEQRITIES. Ttie fatlowing provislons reladng fo governmental taxas,
<br /> (eos and charges are a part of this Deed ot Trust:
<br /> Curr=nt Taxes,Fees and CharpES. Upan roquast by Lendar,Trustor shalt execute such documents In addition to this D@ed of Trust snd i�ke
<br /> whatever other action is requosled by Lender to parfect end contlnue Lenders flen on the Raal Proparty. Trustor shail reirtlpurse Lender for aG
<br /> laxes, as described below, together H�ith aA eacperues i:tcurrod In recording, pe,-fecGnq or conHnuinfl thts Deed of Trusf, includ�nq wNhout
<br /> Ilmi�taHon ati taxes,fees,documentery stamps,and other charges for recording pr rpqlstering fhis peed of Ttust.
<br /> Taxea The foUowing shall conslitute taxes lo which thls secNon eppfles: (a)a speclflc lex upon thts type of Deed of Trust or upon all or any
<br /> pari ol tho Indebtedness secured by this�eed of Trush, (b)a specMfc lnx on Trustcx whbh Trustrx b eulhorized or required lo dxduct kom
<br /> paymenls on ing Indebtedness secu;ed by lhis type of Deed of Trusl; (o)a tax on thls type of Deed af 7rust chatgeable agal,�st Ihe Lender a
<br /> the hdder of the Nole;and (d)a specFfic tax on ell or ar�y porHon o}the Indebtedness a on payments ot principal and Inl�est made try
<br /> Trttstor.
<br /> 5ubsequa�t 7aaes. 6f any tex to wh�h this sectlon applles is e�acted subsequent lo the date bf this Deed of Trust,thls event shall heve the
<br /> same etteCl as an Event of Qefattn(as deflrr9d be1�H),and Lender mey exercfse gny pr ap of its evailablo remedies fo-s�Evont of Dafauit es
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<br /> provided be�ow unless Trusfw eNher (e)pays the lax be(ore it becort�es delinquent,or (b)contesls the tax as provided abova In lhe 7axds and
<br /> Liens secUon end deposlis w�th Lender cash or a sufflden!corpaaie surety bond or other securtty s�tlsfactory io lender.
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