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-�;�s=�sss ,�EED OF TRUST Page 3 a
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<br /> � Loan Na 1044775 _ (Continued) 9 9 1113 3 7 ;
<br />� under the lien< contest, Trustor shall defend itself and Lender and shaN sadsfy any adverse ludgment before enforc�ment against the '
<br /> P►aPertY. T shall name Lender as an addit�onal obligse under any surety bond hxnished in the contest proceedings.
<br /> EvldNtce of Payment. Trustor shall upon demand fumi�h to Lender sadsfactaY evidence of PaYment of the taxes or essessments and shall ;
<br /> au�orite the appropriate govemmental officaal to delivsr to Lendar at anY time a written statement of the taxes and assessments a9a�nst the ,
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<br /> � lon. Trustor shall nobty Lender at�flReen(15)days before anY work is commenced,any servk�s are furnished,or any
<br /> ma lied to the Property, ff any mechanic's Nsn, materlalmen's �ien, or other Ilen could be asserted on account of the work,
<br /> servk�es, Trustor will upon request of Lendsr tumish to Lender advance assuran�s sadsfactorY to Lender that Trustor can and wiil
<br /> pay the cost nts.
<br /> PROPERTY DAMAGE INSI�iANCE. The fdlowinp Provfsio�s relatl�9 b i^SUri^q the Properiy are a part of this Deed of Tn�st.
<br /> Mdntenance of Insurance. Trustor st�oN prooure and maintain pdides of flre insurance with standard extended coveraqe endorsemenis on a
<br /> replacement basis for the full insivabl�v�lue cove�irg aN�mprovements on the Real Property in an amount sufficient to avdd applicaUon of any
<br /> coinsurance dause,and with a standard matqa9ee da�ue in iavor of�ender,together with such other hezard and liability insurance as Lender
<br /> may reasonably require. Pdides shaN be written in Mrm, amounts, coverages and basis reasonably axeptable to Lender and issued by a
<br /> company or companies reesonably eccePtable to Lender. Tnistor,upon request of Lender,will deliver to Lender irom tlme to tlme the pdk�es
<br /> or certificates of insurenoe fn'Mrm satisfactory to Lender, induding stipulallons that coverages will not be cancelled or diminished without at
<br /> least ten(10)days'prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor of
<br /> Lender will not be impaired in any way by any act,omission w default of Trustor or any other person. Shoutd the Real Property at any tlme
<br /> become located in an area designated by the Director of the Federal Fme�gency Management Agency as a special flood hezard area,Trustor
<br /> apreas to obtain gnd maintain Fed�ral Flood Insurarxa,for t�e full unpaid princi�ial balsnce of the loan and wiy prlor Mans on the property
<br /> securfrp the laan,up to the maximum polk:y�set tmd�t tha Natlorwl Flood Ir�suranos Propram,or as otherwise required by Lender.and to
<br /> maintain such insurence tor the term of the loan.
<br /> Applicadon of Proceeds. Trustor shaM prompUy notNy Lender of any loss or demege to the Properiy. Lender may make proof of loss ff Trustor
<br /> fails to do so within fliteen(15)days of the casu�aNy. Whether or not Lender's securiiy is impaired,Lender may,at its electfon,receive and retain
<br /> the proceeds of any i�surance and apply the proceeds to the reducHon of the Indebtedness,payment of any Ifen affecting the Property, or the
<br /> restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and repair, Tr�tor shall repair or replace the
<br /> damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon satisfactory proof of such expenditure, pay or
<br /> reimburse Trustor from the proceeds for the reasonable cost of repair or restoration if Trustor is not in default under this Deed of Trust. Any
<br /> proceeds which have not been disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoratlon of
<br /> the Property shall be used first to pay any amount owing to Lender under this Deed of Trust,then to pay accrued interest,and the remainder,if
<br /> any,shall be applied to the principal balance of the Indebtedness. If Lender holds any proceeds aiter payment in full of the lndebtedness,such
<br /> proceeds shall be paid to Trustor as Trustor's interests may appear.
<br /> Unexpired Insurance at Sak. Any unexpired insurance shall inure to the benefit of,and pass to,the purchaser of the Property covered by this
<br /> Dsed of Trust at any trustes's sale or other sale held under the provisions of this Deed of Trust,or at any foreclosure sale of such Prope�ty.
<br /> Compti�rfce with E�dstin�Indebtedness. Duriny the period in which any E�dsting Indebtedness described below is in effect,compiiance with
<br /> the insurar�ce provisions contained in the instrument evidencing such Existirp Indebtedness shaN constitute compliance with the insurence
<br /> provisions under this Deed of Trust,to the extent compllanoe with the terms of this Deed of Trust would constitute a dupl�aHon of insurance
<br /> requirement. If any proveeds trom the insurance become payable on loss,the provisions In this Deed oi Trust for division of proceeds shell
<br /> apply only to that po�tion of the proceeds not payable to the holder of the Existlng Indebtedness.
<br /> D(PENDITURES BY LENDER. If Trustor fails to comply with any provision of this Deed of Trust, indudiny any obligaUon to meintain Existlng
<br /> Indebtedness in good standing as required below,or if any acUon or proceeding is commenced that would materielly affect Lender's interesis in the
<br /> Prope►ty, Lend�on Trustor's behalf may, but shall not be required to, take any acdon that Lender deems appropriate. Any amount that Lender
<br /> expends in so doing will bear interest at the rate provided for in the Note irom the date incurred or paid by Lender to the date of repayment by
<br /> Trustor. All such expenses,at Lender's option,will (a)be payable on demand, (b)be added to the balance of the Note and be apportioned among
<br /> and be payable with any installment payments to become¢ue during either (i)the term of any applicable.insurance policy or (ii)the remaining term
<br /> of the No�s, ar (c)ba hated a��l ti�lloan p�►ymant�ich wW be dui and payabk at fhe F�te's maCUrity^. TFas Qeed of-Trust aiso will secure
<br /> paymeM of tt�ese amounls. The rights provided for in this ppra�raph shall be M additlon to arry othe�'rlghts dr any remedies to wh(ch Lender may be
<br /> entitled on axount of the default. Any such actlon by Lender shaM not be construed as curirp the default so as to bar Lender from any remedy that
<br /> it otherwise would have had.
<br /> WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Desd of Trust.
<br /> Title. Trustor warrants that: (a)Trustor holds good and maricetable dtle of record to the Property in fee simple,free and clear of ali Ifens and
<br /> encumbrances other than those set fo�th in the Real Property description or in the Existing Indebtedness section below or in any title insurance
<br /> policy,title report,or final title opinion issued in favor of,and acxepted by,Lende�in connection with this Deed of Trust,and (b)Trustor has the
<br /> full right,power,and authority to execute and deliver this Deed of Trust to Lender.
<br /> Defenae of Title. Subject to the exception in the paragraph above,Trustor warrants and will forever defend the 6de to the Property against the
<br /> lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the interest of Trustee or
<br /> Lender under this Deed of Trust,Trustor shall defend tha action at Trustor's expense. Trustor may be the nominal party in such proceeding,but
<br /> Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own chace, and
<br /> Trustor will deliver,or cause to be delivered,to Lender such instruments as Lender may request hom dme to time to permit such perticipadon.
<br /> Compliance With i.aws. Trustor warrants that the Property and Trustor's use of the Property complies with all exisHng appiicable laws,
<br /> ordinances,and regulations of governmental authorities.
<br /> DCISTING INDEHTEDNESS. The following provisions conceming exisdng indebtedr�ess (the"E�dsting Ind�tedness'�are a part of this Deed of
<br /> Trust.
<br /> bcistin�Llea. The lien of this Desd of Trust securing the Indebtedness may be secondary and inferior to an e�dsting lien. Trustor expressly
<br /> covenants and agrees to pay,or see to the payment of,the E�dsting Indebtedness and to prevent any default on such indebtedness,any default
<br /> under the instruments evidencing such indebtedness,or any default under any security documents for such indebtedness.
<br /> Default. If the payment of any installment of principal or any interest on the F�dsting Indebtedness is not made within the Hme required by the
<br /> note evidencing such indebtedness,or shoWd a default occur under the ir�trument securing such indebtedness and not be cured during any
<br /> appliqable�race p�iod therein,then,at the opHon of Lender,the Indebtedness secured by this Deed of Trust sF�all become immediately due
<br /> and payeble,and this Dead of Trust shai�be in defauft.
<br /> No ModiHcatfon. Trustor shall not enter into any agreement with the holder of any mortgage,deed of trust,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 p�ior written consent of
<br /> Lender. Trustor shall neither request nor axept any future advances under any such security agreement without the prior written consent of
<br /> Lender.
<br /> CONDEMNATION. The following provisions relaHng to condemnation proceedings are a part of this Deed of Trust.
<br /> Applicatlon of Net 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 requ�e that all or any portion of the net proceeds of the award be applied to the
<br /> Indebtedness or the repeir or restoration of the Property. The net proceeds of the award shall mean the award after payment of all reasonabie
<br /> costs,expenses,and attorneys'fees incurred by Trustee or Lender in connecdon with the condemnatlon.
<br /> Prxeedinys. If any proc�eding in condemnation is filed,Trustor shaA promptly noMy LendeP in writing,and Trustor shall prompBy take such
<br /> steps as may be necessary to defend the action and obtaln the award. Trustor may be the nominal party in such proceeding,but Lender shall
<br /> be entitled to participate in the proceeding and to be represen#ed in the proceeding by counsel of its own choice,and Trustor will deliver or
<br /> cause to be delivered to Lender such instruments as may be requested by it irom Bme to time to p�mit such partk�patlon.
<br /> IMPOSITION OF TAXES�FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. Tho followinQ provi�fona rolotinp to povornrtwnt�l tax�, I
<br /> fees and charges are a part of this Deed of Trust:
<br /> Current Taxes�Fees and Char�es. Upon request by Lender,Trustor shall execute such documents in addiUon to this Deed of Trust and take
<br /> whatever other ection i��equested by Lender b perfect and continue Lender's lien on the Real Property. Trustor shaH reimburse Lender for alt
<br /> taxes, as described b�lw, tog�th�r wHh aN eYpenses incurred in recording, perfecMnp or conHnuing this Daed of Truct, induding without
<br /> limitation all texes,fees,documentary Stamps,aisd other cheryes for recording or registering this Deed of Tr�t.
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