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' ` ` � � DEED OF TRUST Page a
<br /> , � �� ' � � 9� �0927:4
<br /> - (Continued)
<br /> Complfance with F�cfsting Indebtedness. During the period in which any Existing Indebtedness described below is in eHect,compliance with the
<br /> insurance provisions coniained 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 o}insurance requiremeni. If
<br /> any proceeds trom the insurance become payable on loss, the provisions in this Deed of Trust for division of proc�eds shall apply only to that
<br /> portion of the proceeds not payable to the holder of the Existing Indebtedness.
<br /> 11. DCPENDITURES BY LENDER. 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 if any action or proceeding is commenced that would materially affeCt Lender's interests in the
<br /> Property, Lender on Grantor's behalt mey, upon notice to Grantor, but shall not be required to,take any action that Lender deems appropriate. Any
<br /> amount thet Lender expends in so doing will bear interest at the raie charged under the Credit Agreement from the date incurred or p8id 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 shall 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 curing the default so as
<br /> to bar Lender trom any remedy that it otherwise woutd have had.
<br /> 12. WARRANTIh DEFENSE OF TITLE. The foilowing provisions relating to ownership of the Property are a part of this Deed of Trust.
<br /> TIUe. Grantor warrants that: (a)Grantor holds good and marketable title of record to the Property(includiny a leasehold interest,if any),free and
<br /> dear of all liens and encumbrances except those o(reCOrd, and (b) Grantor has the futl ripht, power,and authority fo execute and deliver this
<br /> Deed of Trust to Lender.
<br /> Defenx ot Tftle. Subject to the exr,eption 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 proc;eeding is commenced that questions Grantor's title or!he interest qf Trustee or Lender
<br /> under this Deed of Trust,Grantor shall defend the aciion 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 laws,
<br /> ordinances,and regulations of governmental authorities.
<br /> 13. DCISTING INDEBTEDNESS. The following provisions concerning existing indebtedness(the"Existing Indebtedness")are a part of this Deed of
<br /> Trust.
<br /> Exlatiny Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to an existing lien,if there is such a lien.
<br /> GraMor expressly covenants and agrees to pay, or see to the peyment of, the Existing �ndebtedness and to prevent any default on such
<br /> indebtedness, any defautt under the instruments evidencing such indebtedness, or any default under any security documents for such
<br /> indebtedness.
<br /> No Modfflcetion. Grantor shall not enter into any egreement 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, e�ctended, 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 wntten consent of
<br /> Lender.
<br /> 14. CONDEMNATION. The following provisions relating to proceedings in condemnation are a parf of this Deed of Trust.
<br /> Applkatlon ot 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 oi the award be applied to the Indebtedness under ihe 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'tees necessarily paid or incurred by Grantor,Trustee or Lender in connection with the condemnafion.
<br /> Proceedinps. If any proceeding in condemnation is filed, Grantor shall promptly notify Lender in writing, and Grantor shall prompdy fake such
<br /> steps as mey be nec;essary to defend the action and obtain the award. Grantor may be the nominel party in such proc�eding,but Lender shall be
<br /> entitled 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 AUTHORIT�ES. The foflowing provisions relating to govemmental taxes,
<br /> fees and charges are a part of this Deed of Trust:
<br /> Current Taxes,Fees and Charpes. 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 tor ell
<br /> taxes,as described below,together with all expenses incurred in recording,perfecting or continuing this Deed of Trust,including without limitation
<br /> 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: (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 iax 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;and (d)a specific tax on all or any portion oi the Indebtedness or on payments of principal and interest made by Grantor.
<br /> 16. FIIRTHER ASSURANCES. The following provisions relating to further assurances are a part oi this Deed of Trust.
<br /> FuRher Aasurances. 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,ceuse to be filed,recorded,refiled,or rerecorded,es the case mey be,at such times and
<br /> in such oific�s and places as Lender may deem appropriate,eny and all such mortgages, deeds of trust, security deeds, security agreements,
<br /> financing statements,continuation statements, instruments of further assurance,certificates,and other dxuments as may, in the sole opinion of
<br /> Lender, be necessary or desirable in order to eftectuate,complete,perfect,continue, or preserve (a)the oblpa6ons of Grantor under the Credit
<br /> Apreement,this Deed of Trust,and the Related Documents,end (b)the liens and security interests 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 811 Costs and expenses incuRed in
<br /> connection with the matters referred to in this paragraph.
<br /> 17. FLLL PERFORMANCE. If Grantor pays ell the Indebtedness when due, terminates the credit line account, and otherwise pertorms all the
<br /> obligations imposed upon Grentor unde�this Deed of Trust,Lender shall execute and deliver to Trustee a request for full reconveyanCe.
<br /> 1i. DEFAI�T� Each of the following, at the option of Lender,shall constitute an event of defautt ("Event oi Default") under this Deed of Trust: (a)
<br /> Grarrtor commits traud or makes a material misrepresentadon at 8ny time in connection with the credit line account. This can include,tor example,e
<br /> telse statement about Grantor's income, assets, liebilities, or any other aspects of GraMOr's finanda� condition. (b) Grantor does not meet the
<br /> repayment terms oi the credft line account. (c)Grantor's action or inaction adversely affects the cdlateral for the credit fine account or Lender'S rights in
<br /> the cdlateral. This can include,for example,tailure to meintain required insurance,waste or destructive use of the dwelling,failure to pay texes,death
<br /> of all persons liable on the account,transter of title or sale of the dwefling, creation of a lien on the dwelling without our permission,toreclosure by the
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