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� »-26-1999 9 9 1115 �l�EC ntin edUST Pa�e 3
<br /> � Loan No 1049873
<br /> Evidence of Payment. Trustor shall upon demand furnish to Lender saUsiactory evidence of payment of the texes or assessments and stwA
<br /> authorize the appropriate governmental oifiCial to deliver to Lender at any tlme a written statement of the taxes and assessme�ts apainst the
<br /> Property.
<br /> Notke oi Conatructton. Trustor shail notiy Lender at least fltteen(15)days before any work is commenced,any aerv�es are furn�shed,or anY
<br /> materials are supplied to the Prope�ty, if any mechanic's Nen, materialmen's Ife�, or othef Nen could be asse�ted on axount of the work,
<br /> services,or materials. Trustor will upon request of Lender fumish to Lender advance assurances salisfactary to Lender that Trustor can and will
<br /> pay the cost of such improvements.
<br /> PROPERTY DAMAGE INSURANCE. The foqowing provisions relatlng to insuring the Properiy are a part of this Deed of Trust.
<br /> Maintenance of Insurance. Trustor shail prxure and maintain policies of fire insurance with standard extended coverage endorsemenls on a
<br /> replacement basis for the fuN insurable value covering aN improvements on the Reed Properiy in an amount sutficient to avoid appNcatlon of any
<br /> cansurance dause,and with a standard mortgayee dause in favor of LendK,to�ether with such other hezerd and HebNity insurance as Lendsr
<br /> may reasonably require. Pol�les shaN be written in form, amounts, cov�erapes and basis regsonably acceptable to Lender and issusd by a
<br /> company or companies reasonably aa�ptable to Lender. Trustor,upon roquest oi Lender,wiN deliver to Lender trom tlme to tlme the pdicies
<br /> or ce�tiflcates of insurance in form satisfactory fo Lender, i�cluding stlpulatlona that coverages wiN not be canceNed or diminished without at
<br /> least ten(10)days'prior written nodce to Lender. Each insurance poNcy also shaN indude an endorsement providing that coverage In favor of
<br /> Lender will not be impaired in any way by any act,omission or default of Trustor or any other person. Should the Real Property at any tlme
<br /> become located in an area designated by the Director of the Federal Emeryency Mana�ement Agency as a specfal Ilood hezard area,Trustor
<br /> agrees to obtain and maintain Federal Flood Insurance for the full unpaid principal baiance of the loan and any prior Ilens on the property
<br /> secudng theloan,up to the me�dmum pdicy Amits set under the National Flood Insurance Program,or as otherwise requ(red by Lender,and to
<br /> maintain such Insurance for the term of the loan.
<br /> AppikNbn ot Proceads. Trustor shaN promptly�otly Lendar of any lass or detrr��a to the Property. Lender may rtwke proof of bss ff Trustor
<br /> tails to do so within tiftean(15)days of the casualiy. Whether or not Lenders security is impaired,Lender may,at its elecHon,recetve and retein
<br /> the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness,payment of any Nen affecHny the Property,or the
<br /> restor�tion and repair of the Property. If Lender elects to apply the proceeds to restoraHon and repair, Trustor shall repair or replace the
<br /> dameged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon satlsfactory proof of such expenditure, pay or
<br /> reimburse Trustor irom the proceeds for the reasonable cost of r�pair or restoraHon if Trustor is not in defauft under this Deed of Trust. Any
<br /> proceeds which have not been disbursed within 180 days atter their receipt and which Lender has not commltted to the repair or restora8on of
<br /> the Property shall be used first to pay any amount owing ta Lender under this Deed of Trust,then to pay axrued interest,and the remainder,M
<br /> any,shaH be appNed to the principal balance o#the Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness,such
<br /> proceeds shall be paid to Trustor as Trustors interests may appear.
<br /> Unexpired Insurance at Sde. Any unexpired insurance shaB inure to the benefit of,and pass to,the purchaser M the Property covered by tFds
<br /> Deed of Trust at any trustee's sale or other sale held under the provisfor�s of this Deed of Trust,or at any foreclosure sale of such Property.
<br /> Compliance wlth ExisNny indebtedness. During tha period in which any E�dsHny Indebtedness described below is in effect,compliance wfth
<br /> the Msurance provisions contained ln the instrument evidencing such Exfstln9 �ndebtedness shall consUtute compHance with the fnsurancs
<br /> provisions under this Deed of Trust,to the e�dent compNancs with the terms of this Deed of Trust would constitute a duplicadon of insurance
<br /> requirement. If any praceeds fiom the insurance become'payable on loss,the provisions in this Deed of Trust for division of proceeds shaN
<br /> epplyi only to that portion of 1he proceeds not payabie to the hdder of the Existing Indebtedness.
<br /> DCPENDITURES BY LENDER. If Trustor fails to comply with any provision of this Deed of Trust, including any obligatlon to maintain ExlsBnp
<br /> Indebtedness in good standinq es requked beiow,or if any actlon or proceeding is commenced that would materially affect Lender's interests in the
<br /> Property, Lender on Trusta's behalf may, but shall not be required to, take any action that Lend� deems appropriate. Any amount that Lender
<br /> expends in so dang will bear interest at the rate provided for in the Note irom the date incuRed or paid 6y Lender to the date of repayment by
<br /> Trustor. AN such expenses,at Lender's option,will (a)be payable on demand, (b)be added to the balance of the Note and be apporiioned among
<br /> and be payable with any instailment paymenis to become due dtxinp either (i)the term of any applkabie insurance policy or (ii)the remainirp term
<br /> of the Note, or (c) be treated es a balloon payment which will be due and payable at the Note's maturity. This Deed of Trust also wiA secure
<br /> payment of these amounts. The rights provided for in th�paragraph shaa be in addition to any other�ights or any remedies to which Lender may be
<br /> entlUed on account of the default. Any such action by Lender shaB not be construed as curinq the defauH so as to bar Lsnder from any rer»edy that
<br /> it otherwise would have had.
<br /> WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a pert of this Deed of Trust.
<br /> Title. Trustor warrants that: (a)Trustor hdds good and marketable Htle of record to the Property in fee simple,free and clear of eU Nens and
<br /> encumbrances other than those set forth in the Real Property descripUon or in the Exlstiny Indebtedness sectlon below or in any tlde insurance
<br /> policy,tlile report,or final ti11e opinion fssued in favor of,and accepted by,Lender in conneciion with this Deed of Trust,and (b)Trustor has the
<br /> tull right,power,and suthority to execute and deltver this Daed of Trust to Lender.
<br /> Defense of Title. Subject to the excepBon in the paregraph above,Trustor warrants and will forever defend the title to the Property a�inst the
<br /> lawful daims of all persons. In the event any action or proceedinp is commenced that questlons Trustor's tltle or the interest of Trustee or
<br /> Lender under this Deed of Trust,Trustor shaN defend the acHon at Trustor's expsnse. Trustor may be the nominal party in such praceedirq,bW
<br /> Lender shell be enNtled to participate in the proc�eding and to be represented in the prooeedinp by counsel of Lender's own chdce, and
<br /> Trustor will deliver,or cause to be delivered,to Lender such instrumenls as Lender may request trom time to tlme to permit such participatlon.
<br /> Compliance With Lawa Trustor warrants that the Prope�ty and Trustor's use of the Property compNes with aN e�dsdnp applicabla iaws,
<br /> ordinences,and repuletions of governmental suthorities.
<br /> DCISTING INDEBTEDNESS. The foilowing provisions concerning e�dsting indebtedness (the"E�dsting Indebtedness'�are a part of this Deed of
<br /> Trust.
<br /> Exiatin�Lbn. The lien of this Deed of Trust securinq the Indebtedness may be secondary and inferior to an e�dstlrp Nen. Trustor enpressly
<br /> covenants and aqrees to pay,or see to the payment of,the E�dstlnp Indebtedness and to prevent any default on such indebtedness,any dafault
<br /> under the instrurr►enls evidencirp such indebtedness,or any default under any security documents for such indebbdness.
<br /> Defeult. If the payment of any instailment of principal or any interest on the Existl�y Indebtedness is not made witMn the dme requfred by the
<br /> note evidencing such indebtedness,or should a defauft occur under the ir�trument securinp such indebtedness and not be cured durinq eny
<br /> applicable grace period therein, then,at the option of Lender,the Indebtedness secured by this Deed of Trust shaU become immedia�ly due
<br /> and payable,and this Deed of Trust shaA be in default.
<br /> No Modification. Trustor shall not enter into any egreement with the holder of any mortgage,deed of trust,or other security agreement which
<br /> has_priority over this Ueed_of Trust by which that agreement�modified,amended,extended,or renewed wifhout the prior written consent of
<br /> Lender. Trustor shall neither requ95t n�-accept any future advances nn�det any such secu►ity aflreement without the prior wriiten consent of
<br /> Lender.
<br /> CONDEMNATION. The following provisions relating to condemnation proceedinqs are a part of this Deed of Trust.
<br /> Applkation of Net Proceeds. If all or any part ot the Property is cbndemned by eminent domain proceedinps or by any proceedinp or
<br /> purchase in Heu of condemnaHon,Lender may at tts eleciion require that aH or any po�tion of the net proceeds of the award be applied to the
<br /> Indebtedness or the repair or restoraHon of the Property. The net proceeds of the award sheli mean the award aMer payment of ail reesonable
<br /> costs,expeK+ses,and attcirneys'fees incu►red by Trustse or Lender in conr�ection with the condemnatlon.
<br /> Pfo�eedlnqs. ,If any procpedinQ in condemnatlon is�led,7rustor shaN prompBy,notify Lender in w�i6ng,and Trustor shall prompdy take such
<br /> steps as may be nec�ssary to defend the action and pbtain tFw award. Trustor may be the nqlninal pariy I�sucFt pfooppdir�,but Lender si�aN
<br /> be�eltlilled to partlCipate in the proceeding;and to be repr�sented in the proceeding by counsel of�its own chdce,and.TruStor will deNv�er or
<br /> cause td be deliverpd to L,ent�er such instruments as may be reqt�ested by it fram time to time to perrhit such parrti�Cipatlon. j
<br /> IMPOSITrON OF TAXES,�•F�ff$AND CHARGES BY GOVE�NMENTAL AUTHORITIE$. The followinp provislon�relatlrlq to povemmental'texes, �
<br /> fees and�chat�ges are a part of this peed of Trust:
<br /> Curr��t T�x�s,FNi�nd Chu�: Upon r�qu�s1 by landK,Tn�ta sFwll oxocuta�uch doounwn�in addNion to thi�ONd of Trwi and tak�
<br /> whatever othef action is requested by'Lender tb pe�feCt and contlnue Lender's Nen on the Real Property. TrustOrsh�relmburse Lendec br aH
<br /> texes, as described below, topether with aN expenges incurred in recordirp, perfecting or contlnuinp this' Dsed of tn�at, Including witf►out
<br /> •limitedon all taxes,fees,documentary starr�s,and otk�er char�es fior recordlny a registering this Lle9d of Trust.
<br /> Texies. The fqNowirp shr eonsiitut�t�s to which this sectlon appNes: (a)e spscMic tax upa►this hPe.of Deed �:Tr�t or upon all or�ny
<br /> part of the Indeblbdness aecured by thFs Deed,of Trust;; (b),a,'s�eci�c tax on Trustor which Trustar is�uthai�ed ctr'equirod to�educt irom
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