|
DEED OF TRUST
<br />Loan No 34074 (Continued) 200112716 Page 3
<br />curing the default so as to bar Lender from any remedy that it otherwise would have had.
<br />WARRANTY;- DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Dead of Trust
<br />Title. Trustor warrants that (a) Trustor holds good and marketable tills of record to the Property in fee simple, free and clear of all lions and
<br />encumbrances other than those set forth in the Real Property description or in any title insurance policy, tills report, or final tide opinion
<br />issued in favor of, and accepted by, Lender in connection with this Deed of Trust and (b) Trusior has the full eight, power, and authority to
<br />execute and deliver this Deed of Trust to Lender.
<br />Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the tide to the Property against
<br />the lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustoes title or the interest of Trustee or
<br />Lender under this Deed of Trust Trustor shall defend the action at Truswes expense. Trustor may be the nominal party in such proceeding,
<br />but Lender shall'i be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice, and
<br />Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to time to permit such
<br />participation.
<br />Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable laws,
<br />ordinances, and regulations of governmental authorities.
<br />Survival of Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shall survive the execution and
<br />delivery of this Deed of Trust shall be continuing in nature and shall remain in full force and effect until such time as Borrower's
<br />Indebtedness is paid in full.
<br />CONDEMNATION. The following provisions relating to condemnatiori, proce"Ings are a part of this Deed of Trust:
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and Trustor shall promptly take such
<br />steps as may be necessary to defend the action and obtain the award. Trustor may be the nominal party in such proceeding, but Lender
<br />shall be entitled to participate in the proceeding and to be represented In the proceeding by counsel of Its own choice, and Trustor will
<br />deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permit
<br />such participation.
<br />Application of Not Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or
<br />purchase in lieu of condemnation, Lender may at its election require that all or any portion of the net proceeds of the award be applied to the
<br />Indebtedness or the repair or restoration of the Property. The not proceeds of the award shall moan the award after payment of all
<br />reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender In connection with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes,
<br />fees and charges are a part of this Dead of Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addition to this Dead of Trust and
<br />take whatever other action is requested by Lender to perfect and continue LeMer's Ilen on Me Real Property, Trustor shall reimburse Lander
<br />for all taxes, as described below, together with all expenses Incurred In recording, perfecting or continuing this Deed of Trust, including
<br />without limitation all taxes, fees, 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. (1) a specific tax upon this type of Deed of Trust or upon all or any
<br />part of the Indahtswinann SAfhjmd by this Dead of Trust (2) a sbacific tax on Borrower which Borrower is authorized or required to deduct
<br />from payments
<br />Lender or the t
<br />made by Borrco
<br />Subsequent T
<br />same effect as
<br />unless Trustor
<br />section and del
<br />SECURITY AGREE
<br />of this Deed of Trusi
<br />Security Agre
<br />shall have all o
<br />Security Inten
<br />Lender to perfo
<br />prop" recorc
<br />of this Deed o
<br />security inters:
<br />shall assemble
<br />and make it av
<br />Addresses. 7
<br />granted by this
<br />Dead of Trust
<br />FURTHER ASSURi
<br />Deed of Trust
<br />FULI
<br />all th
<br />shall
<br />Rent
<br />EVE
<br />for.
<br />aces. If any tax to which this section applies is enaob
<br />an Event of Default, and Lender may exercise any c
<br />Dither {1) pays the tax before it becomes delinque
<br />osits with Lender cash or a sufficient corporate surety
<br />AENT; FINANCING STATEMENTS. The following p
<br />anent. This instrument shall constitute a Security Agi
<br />the rights of a secured party under the Uniform Comi
<br />ATTORNEY-IN-FACT. T
<br />to
<br />any of tits newtvu LJUUWF1W11Ja. it allmt a lanutu 10 utautc
<br />provision of this Deed of Trust within the preceding twelv
<br />Borrower or Trustor, after Lender sends written notice don
<br />ftaquent to the date of this Dead of Trust, this event shall have the
<br />of its available remedies for an Event of Default as provided below
<br />r (2) contests the ltax as provided above in the Taxes and Lions
<br />d or other security satisfactory to Lender.
<br />ions relating to this Deed of Trust as a security agreement are a part
<br />ent to the extent any of the Property constitutes fixtures, and Lender
<br />al Code as amended from time to time.
<br />noing statements and take whatever other action Is requested by
<br />d Property. In addition to recording this Deed of Trust in the real
<br />m from Trustor, file executed counterparts, copies or reproductions
<br />9 Lender for all expenses incurred in perfecting or continuing this
<br />,h the Personal Property from the Property. Upon default, Trustor
<br />anner and at a place reasonably convenient to Trustor and Lender
<br />n demand from Lender to the extent pertnitted by applicable law.
<br />urad party) from which information oonceming the security interest
<br />! Uniform Commercial Code) are as stated on the first page of this
<br />relating to further assurances and attomey4n-fact are a part of this
<br />I Lender, Trustor will make, execute and deliver, or will cause to be
<br />,hen requested by Lender, cause to be filed, recorded, refiled, or
<br />ices as Lender mav deem acoroDriate. anv and all such mortoages,
<br />graph, Lender may do so for and in the name of
<br />oints Lender as Trustor's attorney-in-fact for the
<br />may be necessary or desirable, in Lender's sole
<br />iture advances, when due, and otherwise performs
<br />ver to Trustee a request for full reconveyance and
<br />t on file evidencing Landes security interest In the
<br />)r, If permitted by applicable law.
<br />any of the following happen:
<br />
|