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<br /> ,,�,��.-:.�: -� A9-1�4-1994 DEEd OF XRUST � Pa9e 3 -;:.��-__
<br />:� ., ,'� �,oed� td�a 99� ( ) ,�a���� �;�..a, _•�:-_--:..—_
<br /> Contlnued ,���^� °`
<br /> �-�_._.__.._._---_�:=—_-- _�.__._. . .�_.�. � __�—� ,.
<br /> � L'�►.�:':ty A�aisfanc�►n cuch ce�vcrr_g�nmounU n�Lcnd�r may rr.quc�t�sith trustCO and Londcr bcfn�n;fn;�d n:,additlon�l ins�rcd�In ctsch l'��:':y
<br /> Ir_aranc��SO"c'��. Add:Uo��iiy, Ornntor 9hn11 m^Ininln GuCh olhor Insuronca,Includtnp bul r.ol Iimitcd lo h�s.�rd,Uu;;ln��:,In:�rru�l!o:�,cnd
<br /> � � b�r Insurunce,a9 Lender m�y roasona6ty roqulrq. Pal:Cles aholl�o v�rlfton In form,qmouni;;,cuverupc3 nnd bnsts rc�.ortaby etcoptnbto lo
<br /> .. . Lpndec end fss��ed by s cor�peny os compardee r3asonabry neCeplublo to I.ondcr. Trustor,upon roquosl 04 Londer,w111 dallver to Lender Prom =
<br /> � tlrtw to Ilma tlw pGlcles a ccAliketa�of In9uranc3 In(orm cnitsTnctory lo Londor,Includinp sllpuiotlor.a Ihat cov�r6pea wlll not d�Carreilod or
<br /> �� ' dln�InlsMd wilhoul a1 le�l1 bn(10)deys'pdor wrltlen nollce to Lender. Each In9urnnce pot!cy atso shail include an ondorsemant provldlny lha9 ,,n.;
<br /> � �� covsrnge In fnvor�f Len�er wlll npt me Im�elred In any way by any act,omisslon or dolauN oi Ornntor or any other p9raon. ShoNd Ihe RaAI �"'``
<br />- � F;oa��y�!any tii�to b�,^.orrto lo^,at:d In pn etc�d's!pn�t�d ty th� Dlrccfor o�iht�Federnl Emerqency MUna�omenl Ar�ency e3 cf s�eclsl flood . '
<br /> � r� � hatlyd uoa,Trustar�pnes to obtaln and melntoln Federal Flood Insurence lo ihe vxtent such Insurnnce Is reqt�ked by Londer Qnd Is or �'
<br /> . •. ° t�comH avYlleha,fa Rw I�rm ot liie loan snd tor Ihe full unpoid pdnclpnl bnlance of Ihe loun, or the maxlmurn Ilmll ot coverape Ihat Is •
<br /> ' avtAobta,whiChevor le less. •
<br /> � AppllCetlon af ProcaW�. Trustor ohall promptry notity Londer of eny toss cr damnpa fo the Property. Lender may make praol 01 loss il Trusta
<br /> talb fo do so withtn fifleen(16)days oi Ihe casuelty. Whether or not Lender's securlty Is Impnired,Lender mey,at Its etectlon,recaive and ro4nln
<br /> � „ lha proceeds ol any Insurance end epply Ihe procae�s to Ihe reduction of fhe Indebtodnos9,paYmont of nny Ilen o.flectiny lhe Properly,a tha
<br /> restaation and eep�lr of the Proper4y. If LO�dar elnct5 to apply the proceeds io rostorntion end repalr, Trusta shall repair or replace Iha
<br /> " � damapod or dastroyed Improvements In 4�nannar satisfactory to Lender. Londer sha!I,upon satis►actory proo7 of such 6xponditure,pay or
<br /> � .. relmbursa Trustor hom tt� prxseds lot ihe reasonable cost ot ropelt ot rastoration If Trustor Is nol In dataull under lhls Daed ot Trust. Any
<br /> praceads wh�h have nol been dlsbursod wifhin 180 deys attor their recetpt and whlch Lender has not commitled to lhe repair a restoratlon of .
<br /> Ihe Properiy 6hell ha used flrst to pey any amount awlnp to Lender under Ihls Dood of Trust,then to pay accrued Interost,and tho romalnder,if
<br /> �- ■ny,shaA be�ppllod to lhe principal balunce of ihe Indebisdness. If Lender holds nny procoeds atter paymant In fuli of lhe Indebtedness,such
<br /> ; prooaads shall be paid to Y�ustw ss Trusl�r's Interests mny appear.
<br /> • lJn1x�(red(nwranCO�1 Sale. Any unexpired I�+suranCa shall Inure to Ihe beno(it of,end puss to,the purchnser o!Ihe Property covored by thls .
<br /> ' Deed oS Trusl at eny trustea's etsle or other aele held under the provislons of this Deed of Trusl, or at any lae�losure sele of suoh PropeAy.
<br /> ' Truator'e Repotf o�Inat�rence. Upon requesl 01 Lender,howover not more Ihen once a year,Yrustor sha11 furn!sh to Lendar e reporl on oach �
<br /> exislinp potiCy of insuranCe showlnfl: (a)the nnme of the Insure�; (b)Ihe risks insured; (c)the emouni ol the policy; (d)the properly Insured,
<br /> � " ihe then current replacemenl value of 5uch property,and tha manner nf determining Ihnt vglue;and (e)Ihe explrntlon date oi Ihe poi�y.
<br /> �, Trustor shall,upen requost ot Londor,have nn Independent appreiser salisfaclory lo Lender d9lormine the cash vtituo roplacement cost of the ' � „
<br /> ProDorlY• .,
<br /> EkPENDiTUFiES BY LENUER. If Trustor falls to comply with any provislon of this Doed ol Trust,or II any acllon or prxaeding Is commenced that
<br /> would matertally eNect Lendor's Interesls In Iha Property.Lender on Truslor's behalf may,but shail not be required to,tako eny ar,lion that lendor . �•
<br /> •� deams epprop►iate. Any amount Ihet Londer expands in so doing wili bear interest at the ratv charged under the Noto from tlie date Inaurred or pald ��•
<br /> �' by Lender to Iho date ot ropaymenl by Trustor. AII such expenses,et Lender's option,will (a)be payable on demand, (b)ba added to the batance ,�v�
<br /> of Ihe No}e and be apportioned among and bo pay3ble wilh any Instellmont payments lo become due durinq eilher (q the term o(any applicabte /,. �_
<br /> lnswance polby a (il)the romsining torm of the Note,or (c)bo Ireated es a batloon payment whlch wili bo duo and payebte at the Nate's meturity. i`:�
<br /> � Thls Daed of Trust efso wi�l secure payrnent of theso amounts. The rlphls provided tor in Ihis paragrpph shall be in addition to any oihpr rlghts or any
<br /> " ren�edle4 to wh�h Londet may be entitled on account of the default. Any such actfon by Lender shall not be consfrued e3 curing the de(ault so fl9 to I ;•
<br /> bar Lender from any romedy Ihat il otherwlse wauld havo had. �
<br /> L--------
<br /> WARFiANTY;DEFEHSE OF TITLG. 1ha fonowing provisfons relaling to o�vnarship ot the PropeAy are a part oi ihis Deed of Trust. '�%
<br /> " TillO. Trustor wananis that: (9)Truslor holds good and mnrkeleble title o!reCOrd lo the PropeAy in fee slmple,free and clear qi ull Ilens und
<br /> enCUmbranCe3 other than those oot torlh(n ihe Rsal Property descripl(on or In flny tille in5urance policy,fille report,or 8nal tiile opinion Issued In � , i
<br /> ^ t8vor 91,and aCCepted by,Londer in connECYion with ihls Dead of'frust,and (b)Trustor has the full right,power,and authority to exoCUte and �,•.
<br /> deSiver lhls Deed of Trusl to Londer. �1;, 'j
<br /> ��
<br /> Detense of Tifle. Subjecl to the exception In the paragraph ebove,Trustor wnrrants end will forever de(end the title to the Proporry agafnst tho C ,�
<br /> lawful Claims of all�ersons. In lhe avent nny action or proceeding is commenced that queslbns Trustor's Illle or the interest of Truslee or ; .�. ,'.�;�,.
<br /> Lender unda thls Deed of Trust,Trustor shall dofend Ihe action st Tmstor's expense. Trustor mey be the nominal parly In ouch proceeding,but I;• ;,,�,�;•+;
<br /> Lender shall be entilled lo pnRiclpnte In Ihe procoeding end to be representod in Ihe proCeeding by counsel ot Lender's own cholce,and �" ,' ����
<br /> Trusta wfil deliver,or Ceuse to be delivered,lu Londor such(nstrumenfs as Londer may request Irom timo to time t�parmll such paAiclpation. �["
<br /> Compilence With LeWe. Trusior warranis that the Property and Trustor's uso of ihe Properly complies with ali exlsting eppliCable laws, • , ' �
<br /> ' OrdinenCes,end regulatlons ol governmantal aulhorities. f '•1�
<br /> CON�EMNATION. The following proNSlons relaling to condemnatlon proCeedings are a part of this Deed of Trust. I • ,�
<br />: ' A¢pl{cation of Net PtmCeeds. If ull or any part of the Property is cpndemned by eminnnt domain proceedings or by uny proCeeding or ��
<br /> � purch.ase In Bou of condomnation,Lender mny ttl Ils eleclion requ�re lhat all or eny porlion o� the net prxeods of the nwurd be applied to the
<br /> ' Indebtedness or Ihe repelr or restoreHOn of the Property. The net procoeds of Ihe awnrd shall mean the eward afler payment Of all reasonable �.
<br /> . costs,expen5es,and ottanoys'tee�Incunad by Trustee or Lendor in connection with Ihe condemn�tlon. I
<br /> PfOCCtdlrtp�. If any proCeeding In condemnatlon Is fiied,Trustor sha11 promptly notify Lender In wdting,and Trustor shali prompity leke such
<br /> ' sfeps es vnay be noCessery to dotend Ihp aclion and oGlain 1ho award. Trustor may be the nom�nai party In such proceeding,but Lo�der shatl i
<br /> bs entitierJ to parUCipnte In Ihe pro�aeding und lo be represontad In the proceeding by counsel of fts own Chotco,anc!Trustor�vfll dotiwr or I ;k4
<br /> �'�+ CBUSe to be d311vered to Lender suCh Iristrumenls as mny be roquested by it from time to lime to permif such pflr�iCipeti0n. i
<br /> IMPOSITIOH QF 7AXES,FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The tollowing provislons relatinp to governmenfal taxes. �
<br /> ��`,, ft�9s end Chitrpes sra a pari ot thls Deed ol Trusi:
<br /> I
<br />. � CuneM TBxes,Feea and Chorpes. Upan request by Lender,Trustor shall executo such documents In additlon to Ihls Oeed of Trust nnd tako �
<br /> whntevar other actfon Is roquostod by Londor!o peNect and continue Lender's lien on the Reai Properly. Trustor shnll relmbur�e Le�der ta nll �.
<br /> � taxes,as do5cribod below,togelher with ell expenses incurred In recording, periecting or continuing Ihls Deed of Trust, including wilhout
<br /> � , � IiMtation ell texes,fees,docwnenl8ry Slumps,ond other chargos for recording or registering Ihis Deed ol Trust.
<br /> . Texe�. The following shall constltute texes to which IMS seclion applies: (a)a spocific lax upon thfs type of Deed of Trust or upon ell or any
<br /> f psrt 01 Ih8 Indeblodness secured by Ihis Deed of Trust; (b)e speci(ic lax on Truslor which Trustor is uuthorizetl or required lo dodutt ham '
<br /> paym�nis on Iho Indebtodnoss socurod by Ihfs rype of Ooed o1 Trusl; (c)a tax on Ihis type of Deetl o1 Trusl Chargeabld agalnst Ihe Lender or
<br /> � the hoWor of lho f�iole;and (d)u spoClNc ttzx on all or pny port�on ot tho Indebtedness or on p�ayments ol prinCipal ond Interost made by
<br /> Trusta. �
<br /> � 5ubsc�uent Taxes. If eny lau to which this soctio�epplles Is enactod subsequant to the date of this Doed ot Trust,this ovent shail have the
<br /> same eBeCl es en Evenl o!Defaull(as de0ned bolow),and Londor may oxercise ony or all of Ils nvnUabto ramedios(or nn Evonl of Oelautt ns
<br /> provlded bdow unlc�ss Trustor elther (a)pays IAe lex before il bacomes CollnquonL or (DJ contosts the tux as provtdad ahova In tha Te�tes and
<br /> � , Llans aeCUon end daposlts wilh londor cnsh or a sufficlont corporato surety bord or other socurity satisiactory to Londer. �
<br /> � , SECURITY AGRHEMEtsY;FINANCIN(3 STATEMENTS. The foilowing provislons relating to Ihis Deed of Trust os a secudfy agroement aro n part of
<br /> �, .. ,.. ti�fs Osed o}TrU51. :
<br /> � --- - SEecuriri AareEmeM. ThLs Instrumonl shell Constitulo a secudlY aflrQameM to Ihe exlant any o1 the Property Constitutes fbcluros or other
<br /> r== --_ - _ — - -
<br /> - personal property,nnd Lender shnll hava ull of Iho rights of n socured party under the Uniform Commercial Code as amended trom timo to "
<br /> k �" t�1118.
<br /> �� SeCUrity(nterest. URan roquosl by lander,Trustor shall execute finanCing statements and Iako whatever olher ncilon is ruquested by Lender
<br /> � to porteCt and continue Lendot's securlty Interast fn the Rents and PerSOnal Propehy. in ndtl�lion to recording this Oc�od of Trust In Ihe rosl
<br /> �1 properly r�otds,Lendet may,at ony limtt and wilhout lurthor nulhoritntion from Trustor,fila exeCUted Countarparts,copips or roproductions of
<br /> 1 this Dctod of Trust�5 n BnanCfnp statement. Trustor shnll roimburse Lendor for a!I expenses incurtod in pertectinp or continuing this secunty
<br /> i, fnterust. Upon dofaull,Trustor shuli assambto thp Pflrsonnl Proporry In a manner and nt n place reasonably convon!ent lo Trustor end Lender
<br /> :*- Qnd m6ke II nvailablo to Lender withfn Ihrep(3)days n�ler recs�pt ot nntlen domand irom Londor.
<br /> Addressee. Tho ma:lfng uddrosses of Trustor(dobtor)nnd Londer (securod p��ty), Irom which �nformatinn concorning tho sucurily Interost
<br /> . • qrnntad by ihls Dead ot Trusl may bo obtefnod(ench us required by Iha Uniform Commarcfal Code),arp es slpled on t�a first paga o1 Ih15 Dend
<br /> ,• 4f T�U51.
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