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<br /> �2:03-1999 DEED OF TRUST 9 9 1116 Page 3
<br /> Loan No 1050921 (Continued) 9 i
<br /> Property. T�ustor shall name Lender es an additional obligee under any surery bond furnished in the contest proceedings.
<br /> Evidsnce ot Peyment. Trustor shall upon demand furnish to Lander saHsfactory evidence of payment ot the taxes or assessmsnia and sheN
<br /> authorize the approprfate governmental oHicial to deliver to Lender at any Ume a written sfatement o�the taxes and assessments a�ainst the
<br /> Property.
<br /> Notke of Construction. Trustof shaN notify Lender at least fifteen(15)days before any work is commenced,any services are furnished,or any
<br /> materials are supplied to the Property, ff any mechanic's lien, mate�ialmen's Uen, or other lien couid be asserted'on axount of the work,
<br /> servk�s,or materials. Trustor will upon request of Lender hunish to Lender advance assurances sadsfactory to Lender that Trustor can and will
<br /> pay the cost of such improvements.
<br /> PROPERTY DAMAGE INSURANCE. The foNowinq provisions reiaHng to insurir�q the Property are a part of thls Deed of Tnist.
<br /> Mdntenance of Insurance. Trustor shall prxure and meintain po�cies of fire insurance with standerd extended coverage endorsements on a
<br /> replacement basis for the full insurable vatue coverirq all Improvertwnts on the Real Property in an amount su(fldent to avoid applicatlon of any
<br /> coi�urance dause,and with a standard mortgapee dause in favor of Lender,topether with such other hezard and NsbNiiy insurance as Lender
<br /> may reasonaby require. Pdk3es shaN be written i� form, amounts; coverages and basis r�son�bly acceptabla to Lender and issued by a
<br /> company or�ompanies reasonably aa�ptable to Lendsr. Trustor,upon roquest of Londer,wiN dqliver to Lender trom dme to dms the poNdes
<br /> or c�ertlflcates ot fnsurence in form satlstactory to L�ndsr, MdudMp sdPulatlor�that cow�es wiM not b�canceAed or dimi�ished wRhout at
<br /> least ten(10)deys'prior wrHten notice to Lender. Each insuranoe poNcy also shaN indude an endoraamsnt providirq that coverape in(avor of
<br /> Lender wNl not be impaired in any way by any act,omission or defaWt of Trustpr or any other person. ShoWd the Rael Properiy et any tlme
<br /> ' be�ome located fn an�area designated by the Director of the Federal Emergency Management Ayency as a speciel Aood ha=ard area,Trustor
<br /> agrees to obtain and maintain Federal Flood Insurance for the full unpaid principal balance of the loan and any prior liens on the property
<br /> aacurir�ttw ben,up to the�rrw�omum pdicy Gmits set under tho Natiocwl Flood Insurance Propram,or as otherwise required by Lender,and to
<br /> n�in�n such Msurance tor ths Nnn d�b�n.
<br /> , AppikMlon M Proceeds. Trustor sha8 prompty nol�y Lender of any loss or damepe to the Property. Lender may make proof of I�s�Tnistor
<br /> fa(is to do so within flfteen(15)days of the casuaNy. Whether or not Lende�s security is impafred,Lender may;at fis eleciion,recefve and retain
<br /> the proceeds of any insurance and appy the proceeds to the reducNon of the Indebfedness,payment of any lien affecdng the Property,or the
<br /> restoraUon and repalr of the Property. If Lender elects to apply the proceeds to restoratlon and repair, Trustor shatl repair or replace the
<br /> demaged or destroyed Improvements in a manner sadsfactory to Lender. Lender shaN, upon satisfactory proof of such expenditure, pay or
<br /> reimburse Trustor irom the proceeds for the reasonable cost of repafr or restoraUon if Trustor is not in default under thfs Deed of Trust. Any
<br /> proceeds which have not been disbursed within 180 days after their rec:eipt and which Lender has not committed to the repak or restoraUon of
<br /> the Property shaN be used 8rst to pay any amount owiny to Lender under this Deed of Trust,then to pay accrued interest,and the remainder,if
<br /> any,shafl be appHed to the principai balance of the Indebtedness. N Lender hdds any proCeeds a(ter payment in fuN of the Indebtedness,such
<br /> proceeds shaN be paid to Trustor as Trustor's interesis may eppeer.
<br /> Unexpired Insurance at Sak. Any unexpired insurance shaN inure to the benefit of,and pass to,the purchaser of the Property covered by this
<br /> Deed of Trust at any trustee's sale or other sale held under the provisions of this Deed of Trust,or at any foreciosure sale of such Properiy.
<br /> Compli�ce with Existin�Indebtedness. During the period in which any F�cisting Indebtedness described below is in effect,compNance with
<br /> the insurance provisions contained in the instrument evidencing such ExisNng Indebtedness shaB constitute compliance with the insurance
<br /> provisions under this Deed of Trust,to the extent compNance with the terms of this Deed of Trust would consdtute a dupUcaUon of insurence
<br /> requirement. If any proceeds from the insurance become payabie on loss, the provisions in this Deed of Trust for division of proceeds shaH
<br /> apply anly to that paiion of the proceeds not payable to the hdder of the E�dsMng Indebtedness.
<br /> D(PENDITURES BY LENDER. If Tnastor faAs to comply with any provision of this Deed of Trust, including any obli�adon to maintain E�dstlng
<br /> Indebtedness In yood standing as required below,or ff any action or proceeding is commenced ihat would materiaNy affect Lender's interosts in the
<br /> Property, Lender on Trustor's behelf may, but shaN not be requked to, take any actlon that Lendsr deems appropriaN. My emount that Lender
<br /> expends in so doing wiN bear interest at the rate provided for in the No�irom the daN inctmed or p�id by Lender b 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 oi the Note and be apportioned among
<br /> and be payable with any installment payments to become due during either (i)the term of any applicabie insurance policy or (ii)the remaining term
<br /> of the Note, or (c) be treated as a balloon payment which wiA be due and payable at the Note's maturity. This Deed of Trust also will secure
<br /> payment ot tt�ese amounts. The riqhla provided for in th�s pa'�t��C�eM aAeii�er►ta any e>tl�er rphts er eray r6medies ia wlach l�nd��may be
<br /> entitled on account of the default. My such aciion by Lender aha�not be construed as curinp the dsfau�so as to bu Lender from any remedy that
<br /> it otherwise wouid have had.
<br /> WARRANTY;DEFENSE OF TITLE. The foNowinp provisions releting to ownership of the Property are a part of this Deed of Trust.
<br /> Title. Trustor waRenis that: (a)Trustor hdds good and marketable title of record to the Property in fee simple,iree and clear of ail Ilens and
<br /> encumbrances other than those set forth in the Real Property description or in the F�dstiny Indebtedness section below or in any iitla insurarx:s
<br /> pdicy,tittle report,or final UUe opinfon issued in favor of,and accep�d by,Lender in connectlon with this Deed of Trust,and (b)Trustor hsa the
<br /> full right,power,and suthoriiy to execu#e and deliver this Deed of Trust to Lender.
<br /> Detense of T11k. Subject to the excepaon in the paragraph above,Trustor wanants and wiN forever defend the tide to the Property ageinst the
<br /> lawful dairt�s of elt persons. In the event any acBon or proceedinq is commenced that ques�ons Trustor's tide or the interest of trustee or
<br /> Lender under this Deed of Trust,Tn�stor shell defend the action at Trustor's expense. Trustor may be the nominal party in such proceedinp,but
<br /> Lender shall be endtled to paetk:ipate in the proceedinp and to be represented in the proceedfrq by counsel of Lender's own chobe, and
<br /> Trustor will deUver,or cause to be delivered,to Lender such instruments as Lender may request irom tlme to tlme to permit such parHcipatlon.
<br /> Compllanc:e With Laws. Trustor wurenis that the Property and Trustor'S use of the Property complies with aN exisHrp applicable laws,
<br /> ordinances,and regulatio►�s of governmental authorides.
<br /> IXISTING INDEBTEDNESS. The foNowing provisions cor�ning exi�ii�g indebtedness (the"F�dsting Indebtedness'�are a part of this Deed of
<br /> Trusk
<br /> bdsiin�Llen. The Aen of this Deed of Trust securinq the Indebtedness may be secondary and inferior to an existlnp Ifen. Trustor expressy
<br /> covenanis and agrees to pay,or see to the payment of,the Existlng Indebfedness and to prevent any detault on such indebtedness,any default
<br /> under the ir�shuments evidencing such indebtedness,or any defeutt under any security documents for such indebtedness.
<br /> Default. If the payment of any ir�stallment of principal or any inter�t on the E�dstlng Indebtedness is not made within the tlme required by the
<br /> note evidencing such indebtedness,or should a defauR occur under the instrument securing such indebtedness and not be cured during any
<br /> appHcable grace period therein,then,at the opHon of Lender,the Indebtedness secured by this Deed of Trust sheil become immediately due
<br /> and payable.and tFds Deed of Trust sheN be tn dehWC.
<br /> No Modiflcat(on. Trustor shall not enter inio any agreement with the hdder of nrry morlgage,deed of hust,or other�ecurky agnement which
<br /> has priority over this Deed of Trust by which that a�reement is modified,amended,extended,or renewed without the prior written consent of
<br /> Lender. Trustor shail neither request nor accept any future advar�ces under any such security agreement without the prior written consent of
<br /> Lender. -
<br /> CONDEMNATION. The following provisions reiaUng to condemnation proceedings are a part of this Deed of Trust.
<br /> AppliCation of Net P�oceeds. If aN or eny part of the Properiy is condemned by eminent domain proceedings or by any proceedinp or
<br /> purchase in li�u of cond6mnation,Lender may at its election require that aN or any portion of the net proceeds of the award be epplied to the
<br /> IctdAbt�dne:�s or the repak a reStpratloh of the.Pcoperty. The net proceecls af the award shaN mean the award��ter paYment of aN r�asonable
<br /> costs,expenses,and,attorneys'feesJnctxred by Truslee dr Lender in con�ectiort with the condemnatlon.
<br /> Proceedings., If any proceeding in condemnation is filed,Tr�stor shall prompUy notify Len'der in writing,and�rustor shall promptly taks sWCh
<br /> stepe as mey be r�ec�ssary to,defend the acHon and obtain fh�award. Trustor may be the nominal party in sueh proceAdinp�,but Lender shaN
<br /> tie entitled to,parNcipate in the proceeding and to be represented in the proceeding by counsel of its ow�choice, and 7rustor wiN de�ver or
<br /> ouu'se b be delivePed b Lender such Mstrymenis as may be requested by R trom time to tlme to pecmit such pardcipation.
<br /> IMPOSITION OF TAXES,FEES AND CHARGES BY G01(ERNMENTAL AUTFIORITIES. The fdlowir�q provistons relaGng to qovemmental taxes,
<br /> fees and cha�a an A part o(thN Dwd of Trwti
<br /> Current Taxes,Fees and,Chqryes;-Upon request py Lender,Trustar sheN,exeCUte such dxuments in addition to this Deed of Trys!and take
<br /> whetever othef acUon is requested by t-einder to perfect"and Contlnue Ls�der's lien pn the Real Properly. Trustor shaA reimburse Lender for ail
<br /> texes,�as desscrib8d below, togethef:�rilh�aq 6xpenses in�wred in reccrding, perfecting w contlnuing this Deed of Trust, including without
<br /> Iimit$Hon aN tax�s,lees,documentary statnps;and other;charges fQr recording or registering this Deed of Trust. ,
<br /> Texea. The�fdlowin�shall constitute taxes to which m�s secNon applie8:� (a)a speciflc ta�c upon this iype'bf Deed of Trust or upon all nr arry
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