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DEED OF TRUST Page a
<br /> : ��. 1�� 9�3 (Continued)
<br /> Compii�ce with Existfny Indebtedness. During the period in which any E�tisting Indebtedness described below is in effect,compiiance with the
<br /> insurance provisions contained in the instrument evidencing such Existing Indebtedness shall constitute complianCe with the insurance 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 prxeeds from the insurance become payable on loss, the provisions in this Deed oi Trust for division of proc;eeds shall apply only to that
<br /> pofion of the proceeds not payable to the holder of the Existing lndebtedness.
<br /> 11. DCPENDITURES BY LENDER. If Grantor fails to comply with any provision of this Deed oi Trust, including any obligation to maintsin Existing
<br /> Indebtedness in good standing as required below, or if any action or proceeding is commenced that would materially effeCt Lender's interests in the
<br /> Property, Lender on Grantor's behatf may, upon notice to Grantor, but shatl not be required to,teke any action that Lender deems appropriate. Any
<br /> amount that Lender expends in so doing will bear interest at the rate charged under the Credit Agreement from the date incurred or paid by Lender to
<br /> the date ot 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 witl secure payment of these amounts. The rights provided for in this paragraph shall be in addition to any other rights or
<br /> any remedies to which Lender may be entitled on account of the detault. Any such action by Lender shall not be construed as curing the defautt so as
<br /> to bar Lender from any remedy that it otherwise would have had.
<br /> 12. WARRANT1f;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust.
<br /> Tltle. Grantor warrants that: (a)Grantor holds good and marketable title of record to the Property(including a leasehold interest,if any),free and
<br /> c�ear of all liens and encumbrances except those oi record, and (b) Grantor has the full riflht, power, and authority to execute and deliver this
<br /> Deed of Trust to Lender.
<br /> Defenx of Tltle. Subject to the exception in the paragraph above, Grantor warrants end wf�l forever defend the title to the Property against the
<br /> Iawful daims oi all persons. In the event any action or proceeding is commenced that question5 Grantor's title or the interest of Trustee or Lender
<br /> under tnis Deeo of 7rust,Grantor shall detend the sction at Grantor's expense. Crantor 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 chace,and Grantor will deliver,or
<br /> cause to be delivered,to Lender such instruments as Lender may request(rom time to time to permit such participation.
<br /> Compliance 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 suthorities.
<br /> 1S. DCtSTING INDEBTEDNESS. The following provisions concerning existing indebtedness(the"Existing Indebtedness")8re a p8rt of this Deed of
<br /> Trust.
<br /> Exlstiny Lfen. The lien of this Deed of Trust securing the Indebtedness may be secondary and infenor to an existing lien,if there is such s lien.
<br /> Grantpr expressly covenants and agrees to pay, or see to the payment of, the Existing Indebiedness and to prevent any defautt 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 MOdfflCatlon. Grantor shall not enter into any agreement with the holder of any mortgage, deed of hust, or other security agreement which
<br /> has priority over this Deed of Trust by which that agreement is modified, amended, extended, or renewed without the prior wntten consent of
<br /> Lender. Grantor shall neither request nor accept any future advances under any such security agreement without the prior written consent of
<br /> Lender.
<br /> 14. CONDEMNATION. The following provisions relating to proceedings in condemnation are a part of this Deed of Trust.
<br /> Applicatfon of Net Prxeeds. 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 incurred by Grantor,Trustee or Lender in connection with the condemnation.
<br /> Proceedinys. If any proc�eding in condemnation is filed, Grantor shall promptly notify Lender in writing, and Grantor shell promptly take such
<br /> steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party in such proceeding,but Lender shall be
<br /> entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice,and Granto�will deliver or cause io
<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 governmental taxes,
<br /> fees and charges are a part of this Deed of Trust:
<br /> GuRent Ta�css,Fees and Charyes. 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 pertect and continue Lender's lien on the Real Property. Grantor shall reimburse Lender fw all
<br /> taxes,as described below,together with all expenses incurred in recording,perfecting or continuing this Deed oi 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 from 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;end (d)a specific tax on atl or any portion of the Indebtedness or on payments of principal flnd interest made by Grantor.
<br /> 16. FIIRTHEA ASSURANCES. The following provisions relating to further assurances are a part of this Deed of Trust.
<br /> FuRher Aasuronces. Upon request of Lender,Grantor will make,execute and deliver,or will cause to be made,executed a delivered,to Lender
<br /> or to Lender's designee,and when requested by Lender,cause to be flled,recorded,refiled,or rerecorded,as the cese mey be,at such times and
<br /> in such offioes and places as Lender may deem appropriate, any end all such moRgages, deeds of trust, security deeds, security agreemeMs,
<br /> financing statements,continuation statements, instruments of fuRher assurance,certificates,end other documents 85 meY, in the sole opinion of
<br /> Lender,be necessary or desirable in order to effectuate,complete,pertect,continue, or preserve (a)the oblipa6on5 of Grantor under the Credit
<br /> Aqreement,this Deed ot Trust,and the Releted Documents,and (b)the Iiens and security interests created by this Deed oi 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 expenses incurred in
<br /> connection with the matters referred to in this paragraph.
<br /> 17. FU1 PERFORMANCE. Ii Grantor pays atl the Indebtedness when due, terminates the credit line account, and otherwise pertorms all the
<br /> obligations imposed upon Grantor under this Deed of Trust,Lender shall execute and deliver to Trustee a request for full reconveyance.
<br /> 1i. DEF/�t�T. Each of the fdlowing, at the option of Lender,shall constitute an event of defautt ("Event of Default") under this Deed of Trust: (a)
<br /> Grantor commits traud or makes a materiel misrepresenta6on at any time in connection with the credit line account. This can indude,for axample,a
<br /> false statement about Granto�s income, assets, liabili6es, or any other aspects of Grantor's finanCial condition. (b) Grantor does not meet the
<br /> repayrrieM terms of the credit line account. (c}Grentor's action or inaction adversely affects the collateral for the credit line account or Lender's rights in
<br /> the cdiateral. This cen include,for exemple,failure to maintain required insurance,waste or destructive use of the dwelling,failure to pay taxes,death
<br /> of all persons liable on the account, transfer of title or sale ot the dwelling, creation of a lien on the dwelling without our permission,foreclosure by the
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