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�q�P a,�499� DEED OF TRUST Page 4 '
<br /> " (Continued)
<br /> Compllance with Exfsting Indebtedness. During the penod in which any Existing Indebtedness described below is in effect,compliance with the
<br /> insurance provisions contained in the instrument evidencing such Existing Indebtedness shall constitute compliance with the irtsurance provisions
<br /> under this Deed of Trust,to the extent compliance with the terms of this Deed of Trust would constitute a duplication of insurance requirement. If
<br /> any proceeds trom the insUrance become payable on loss, the provisions in this Deed of Trust for division of proceeds shall apply only to that
<br /> portion of the proceed5'not payable to the holder of the Existing Indebtedness. �
<br /> 11. DCPENDITUFIES BY LENDEA. If Grantor fails to comply with any provision of this Deed of Trust, including any obligation to maintain Existing
<br /> Indebtedness in good standing as required below, or it any action or proceeding is commenced that would materialty affect Lenders onterests in the
<br /> Propetty, Lender on Grantor's behalf may, upon notice to Grantor, but shafi not be required to, t8ke any action that Lender deems appropriate. Am
<br /> amount that�ender expends in so doing will bear interest at the rate charged under the Credit Agreement trom the date incurred or paid by Lender to
<br /> the date of repayment by Grantor. All such expenses,at Lender's option,will (a)be payable on demand,or (b)be added to the balance of the credit
<br /> line. This Deed of Trust also will secure payment bf these amounts. The rights provided for in this paragraph shall De in addition to any other rights or
<br /> any remedies to which Lender may be entitted on account of the default. Any such action by Lender shall not be construed as curing the default so as
<br /> to bar Lender from any remedy that it otherwise would have had.
<br /> 12. WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part ot this Deed of Trust.
<br /> Tltfe. Grarttor warrants that: (a)Grantor holds good and marketable title of record to the Property(includin9 a leasahold interest,if any),(ree and
<br /> clear of all liens and encumbrances except those of record, end (b) Grantor has the full ripht, power, and authority to execute and deliver this
<br /> Deed of Trust to Lender.
<br /> Defenx ot Tltle. Subject to the exception in the paragraph above.Grantor warrants ard will forever defend the title to the Property against the
<br /> lawful cfaims of all persons. In ihe event any action or proceeding is commenced that quesiidns Grarttor's title or the interest of Trustee or Lender
<br /> under this Deed of Trust,Grantor shall defend the action at Grantor's expense. Grantor may be the nominal party in such proceeding,but Lender
<br /> shall be entitled to participate in the prxeeding and to be represented in the proceeding by counsel of its own choice,and Grantor will deliver,or
<br /> Cause to be delivered,to Lender such instruments as Lender may request from time to time to permit such partiCipation.
<br /> Complfance Wlth Laws. Grantor warrants that the Property and Grantor's use of the Property complies with all existing appliCable laws,
<br /> ordinances,and regulations of governmental authorities.
<br /> 13. DCISTING INDEBTEDNESS. The following provisions concerning existing indebtedness (the"Existing Indebtedness")are 8 part of this Deed of
<br /> Trust
<br /> E�dsriny Llen. The lien of this Deed of Trust securing the Indebtedness may be secondary and infenor to an existing lien,if there is such a lien.
<br /> Grantor expressly covenants and agrees to pay, or see to the payment of, the Existing Indebtedness and to prevent any default on such
<br /> indebtedness, any default under the instruments evidencing such indebtedness, or any default under any security documents for such
<br /> indebtedness.
<br /> No MOdfACatlon. Grantor shall not enter into any agreement with the holder of any mortgage, deed of hust, Or other seCUrity agreement which
<br /> has pnonty over this Deed of Trust by which that agreement is modified, amended, extended, or renewed without the prior wntten consent oi
<br /> Lender. Grantor shall neither request nor accept any future advances under any such security agreement without the prior wntten consent of
<br /> lender.
<br /> 14. CONDEMNATION. The`ollowing provisio�s relating to proceedings in condemnation are a part of this Deed of Trust.
<br /> Applleatlon of Net Proceeds. If all or any part of the Property is condemned,Lender may at its election require that all or any portion of the net
<br /> proceeds of the award be applied to the Indebtedness under the LOANLINER�Home Equity Plan,subject to the terms of any mortgage or deed of
<br /> trust with a lien which has priority over this Deed of Trust. The net proceeds of the award shall mean the award after payment of all reasonable
<br /> costs,expenses,and attorneys'fees necessarily paid or incuRed by Grantor,Trustee or Lender in connection with the condemnalion.
<br /> Proceedinfls. If any proceeding in condemnation is filed, Grantor shall promptly nofify Lender in writing,and Grantor shall promptly take such
<br /> steps as may be necessary to detend the action and obtain the award. Grantor may be the nominal party in such proceeding,but Lender shall be
<br /> entiUed to paRicipate in the proceeding and to be represented in the proceeding by counsel of its own choice,and Grantor will deliver or cause to
<br /> be delivered to Lender such instruments as may be requested by it from time to time to permit such participation.
<br /> 15. IMPOSITION OF TAXES,FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to govemmental taxes,
<br /> fees and charges are a part of this Deed of Trust:
<br /> Current Taxes,Fees and Charges. Upon request by Lender, Grantor shall execute such documents in addition to this Deed of Trust and take
<br /> whatever other action is requested by Lender to perfect and continue Lender's lien on the Real PropeAy. Grantor shall reimburse Lender for all
<br /> taxes,as described below,together with all expenses incuRed in recording,pertecting or continuing this Deed of Trust,including without limitation
<br /> all taxes,tees,documentary stamps,and other charges for recording or registering this Deed of Trust.
<br /> Taxes. The following shall constitute taxes to which this section applies: (a)a specific tax upon this type of Deed of Trust or upon all or any part
<br /> of the Indebtedness secured by this Deed of Trust; (b)a specific tax on Grantor which Grantor is authorized or required to deduct f�om payments
<br /> on the Indebtedness secured by this type of Deed of Trust; (c)a tax on this type of Deed of Trust chargeable against the Lender or the holder of
<br /> the Credit Agreement;and (d)a specific tax on all or any portion of the Indebtedness or on paymenLs of pnncipal end interest made by Grantor.
<br /> 16. FURTHER ASSURANCES. The following provisions relating to further assurances are a part of this Deed ot Trust.
<br /> FuRhef Assuronces. Upon request of Lender,Grantor will make,execute and deliver,or will cause to be made,executed or delivered,to Lender
<br /> or to Lenders designee,and when requested by Lender,cause to be filed,recorded,refiled,or rerecorded,as the case may be,at such times and
<br /> in such offices and places as Lender may deem appropriate, any and all such mortgages, deeds of trust, secunty deeds, securiiy agreements,
<br /> financinq statements,contlnuation statements, instruments at furthe�assurance,certificates, and other documents as may,in the sole opinion o(
<br /> Lender,be necessary or desirable in order to effectuate,complete, pertect,continue, or preserve (a)the oblipations of Grantor under the Credit
<br /> Aqreement,this Deed of Trust,and the Related Documents,end (b)the lie�and security interesls created by this Deed of Trust on the Property.
<br /> Unless prohibited by law or agreed to the contrary by Lender in writing, Grantor shall reimburse Lender for all Costs and exper�ses incurred in
<br /> connection with the matters referred to in this paragraph.
<br /> 17. Fl1.L PERFORMANCE. If Grantor pays all the Indebtedness when due, ferminates the credit line account, and otherwise pertorms all the
<br /> obligatiorts imposed upon Grantor unde�this Deed of Trust,lender shall execute and deliver to Trustee a request for full reCOnveyance.
<br /> t3. DEFAI�T. Each of the following, at the option of�ender,shall constitute an event of defautt ("Event ot Default'� under this Deed of Trust: (8)
<br /> Grantor commits haud or makes a material misrepresentatlon at any time in connection with the credit line account. This can include, tor example,a
<br /> fafse sffitement about Grantor's income, assets, liabilities, or any other aspects of Granfor's financial condition. (b) Grantor does not meet the
<br /> repayment terms of the credit line acCOUnt. (c)Grantor's action or inaction adversely affect5 fhe cdlateraf for the credit line aCCOUnf or Lender's rights in
<br /> t�e collateral. This can include, for example,failure to mamtain required insurance,waste or destructive use of the dwelling,failure t0 pay taxe5, death
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