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9 9 � 1 Q 9� 3� DEED OF TRUST Page a
<br /> (Continued)
<br /> Compliance wfth Exfsting Indebtedness. During the period in which any Existing Indebtedness described below is in eHect,compliance wiih the
<br /> insurance provisions contained in the instrument evidencing such Existing Indebtedness shall constitute complianCe with the insurance provisiorts
<br /> under Mis Deed of Trust,to the extent compliance with the terms of this Deed of Trust would constitute a duplication of insurance requi�ement. If
<br /> eny proceeds from 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 proceeds not payable to the holder of the Existing Indebtedness. •
<br /> 11. EXPEHDITURES BY LENDER. If Grantor fails to comply with any provision of this Deed of Trust, including any obligation fo maintain Existing
<br /> Indebtedness in good standing as required below, or if any action or proceeding is commenced that would materially affect Lenders iiiterests in the
<br /> Property, Lender on Grantor's behalf may, upon notice to Grantor, but shall not be required to, take any action thaf Lender deertrs appropnate. Any
<br /> amount that�ender 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 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 of these amounts. The rights provided for in this paragraph shatl be 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 curinq the default so as
<br /> to bar Lender trom eny 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 of this Deed of Trust.
<br /> Tltle. Grantor warrants that: (a)Grantor holds good and maricetable title of record to the Property(incfuding a leasehold interest,it any),tree and
<br /> clear of all liens and encumbrances except those of record, and (b) Grantor has the full right, power, and authonty to execute and deliver this
<br /> Deed Of Trust to Lender. - -
<br /> Detenx of Tltle. Subject to the exception in the paragraph above, Grantor warrants and will forever defend the title to the Property against the
<br /> lawful claims of all persons. In the event any action or proCeeding is commenced that quesNons Grantor's titte 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 proceeding 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 hom 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 law5,
<br /> ordinances,and regulations of governmental authorities.
<br /> 13. DCISTING INDESTEDNESS. The following provisions concerning existing indebtedness (the"Existing Indebtedness") are a part of this Deed of
<br /> Trust. �
<br /> E�dsriny Llen. The lien of this Deed o(Trust securing the Indebtedness may be secondary and inferior to an exisHng lien,if there is such a lien.
<br /> Grantor sxpressly covenants and agrees to pay, or see to the payment of, the Existing Indebtedness and to prevent any defauft 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 Modtflcatfon. Grantor shall not enter into any agreement with the holder of any mortgage, deed of hu5t, 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 written 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 foilowing provisions relating to proceedings in condemnation are a part of this Deed of Trust.
<br /> Applfcatlon 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 LOANLINEA�Home Equity Ptan,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 reasonflble
<br /> costs,expenses,and aftorneys'fees necessarily paid or incurred by Grantor,Trustee or Lender in connection with the condemnation.
<br /> Proceedinfls. If any prxeeding in condemnation is filed, Grantor shall promptly notify Lender in writing, and Grantor shalt promptly take such
<br /> steps as may be necessary to defend the acGon and obtain the award. Gra�tor may be the nominel 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 it�own choice,and Grantor wilt 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. IMPOSITtON 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 /> Current Taxes, Fees and Charyes. Upon request by�ender, Grantor shall execute such documents in addition to this Deed of Trust and take
<br /> whatever other action is requested by Lender to perfec!and continue Lenders lien on the Reai Property. Grantor shall reimbur5e Lender for all
<br /> taxes,as described below,together with all expenses incurred in recordi�g,perfecting or continuing this Dsed of Trust,including without limitation
<br /> all taxes,fees,documentary stamps,and other charge5 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 lndebtedness 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 payments of principal and interest made by Grantor.
<br /> 16. FURTHER ASSURANCES. The following provisions relating to fuRher assurances are a part of this Deed of Trust.
<br /> FurtAer 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 Lender's 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 hust, security deeds, security agreements,
<br /> financing statements,continuation statements, instruments of further assurance,certificates, and other documents as may, in the sole opinion of
<br /> Lender, be necessary or desirable in order to effectuate,complete,pertect,continue, or preserve (a)the obliqatlorts of Grantor under the Credit
<br /> Aqreement,this Deed of Trust,and the Related Dxuments,and (b)the liens and security interests created by this Deed of Trust on the PropeRy.
<br /> Unless prohibited by law or agreed to the contrary by Lender in writing, Grantor shall reimburse Lender for all costs and exper�ses incuRed in
<br /> conrtection with the matters referred to in this paragraph.
<br /> 17. FIIL PERFORMAHCE. If Grantor pays all the Indebtedness when due, terminates the credit line account, and otherwise pertorms all the
<br /> obligatiorts imposed upon Grantor under this Deed of Trust,Lender shall execute and deliver to Trustee a request for full reconveyance.
<br /> ta. DEFAI�T. Eech oi the following, at the option of Lender, shell corntitute an event of defautt ('�vent of Default'� under this Deed of Trust: (a)
<br /> Grantor commits haud or makes a material misrepresentatlon at any time in connection with the Credit line aCCOUnt. This can include, for example,a
<br /> talse statement about Grantors income, assets, liabilities, or any other aspeC� of Grantor's financial condition. (b) Grantor does not meet the
<br /> repayment terms of the credit line account. (c)Grantors action or inaction adversely affect5 the cdlaterat for the credit(ine account or Lender's nghts in
<br /> the cGlateral. This can include, for axample,failure to maintain required insurance, waste or destructive use of the dwelling, failure to pay taxes.death
<br /> �f dll p?�SC^5 h2bl? �� ?h?2CC�L'n!, !�3^c`or �t title or saie of'he dweu�ng. ^rea?i�n of a lien on !he cweiling WI?hpUi OU'C°'^!SSiOn, fOf@CIOSUfB tv the
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