|
99.1 ©95zsoaDf� DEED o��38'9' �y��•r��w
<br />20 U 213403 Page
<br />(Continued)
<br />ComplMnee with Existing Indebtedness. During the Period in which any Existing Indebtedness described below is in effect, compliance with the
<br />insurance provisions contained in the instrument evidencing such Existing Indebtedness shall oonsMWe compliance with the insurance provisions
<br />under this Deed of Trust, to the exbnl compliance with the terms of this Dead of Trust would C g Ruts a duplication of insurerlce requirement. If
<br />arty proceeds from the insurance become payable on loss, the provisions in this Deed of Trust for division of proceeds shall apply only to thet
<br />portion of the proceeds not payable to the holder of the Existing Indebtedness.
<br />11. EXPENDITURES BY LENDER. If Grantor fails to comply with any provision of Nis Dead 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 Lenders intersst in the
<br />Property, Lender on Grantor's behalf may, upon notice to Grantor, but shall not be required to, take any action that Lender deems appropriate. Any
<br />amount that Lender expends in so doing will bear interest at Ihe rate charged under the Credit Agreement from the date incurred or Perot by Lender to
<br />the dale of repayment by Grantw. Ail such expenses, at Lender's option, will (a) be payable on demand, or (b) be added to the balance of the credit
<br />line. Ths Deed of Trust also will secure payment of these amounts. The rights provided for in this paragraph shalt be in addition to any other rights or
<br />any remedies to which Lender may be entitled on account of the default. Any such action by Lender shall not be Wmxtrued as cunng IN default so as
<br />to bar tender from any remedy that it otherwise would have bad.
<br />12. WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Dead of Trust.
<br />T1Be. Grantor warrants that: (a) Grantor holds good and marketable His of record to the Propedy (including a sasehold interest, if any), free and
<br />clear of all Here and encumbrances except those of record, and (b) Grantor hers the full right, power, and aulhonty to execute and deliver this
<br />Dead of Trust to Lender.
<br />Defense W Tlhe. Subject to the exception In the paragraph above, Grantor warrants and will forever defend the the to the Property against the
<br />lawful claims of all persona. In the event any action or pros n irg is commenced that questions Grantor's title or the interest of Trustee or Lender
<br />under this Dead of Trust, Grantor shall defend the action at Grantors expense. Grantor may be the nominee Pact in such proceeding, but LeMer
<br />shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of is own choice, and Grantor will deliver, or
<br />cause to be delivered, to Lender such instrument as Lender may request from time to lime to permit such participation.
<br />Compllance With 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 authombass.
<br />19. EXISTING INDEBTEDNESS. The following provisions concerning existing indebtedness (the "Existing Indebtetlness') are a part of this Dead of
<br />Trust.
<br />Existing Lien. The lien of this Dead of Trust securing the Indebtedness may be secondary and infernal to an existing lien, if there is such a lien.
<br />Grantor expressly covenant and agrees to pay, w see to the payment of, the Existing Indebtedness and to prevent any default on such
<br />indebtedness, any default under the instruments evidencing such indebtedness, m any default under any security document for such
<br />indebtedness.
<br />No ModMWion. Grantor shall not enter into any agreement with the holder of any mortgage, deed of must, a other secunty agreement which
<br />has pnorty over this Deed of Trust by which that agreement is modified, emended, extended, w rawwed without the pnor written consent of
<br />Lender. Grantor shall neither request nor accept any future advances under any such security agreement withoul the poor written consent of
<br />Lender.
<br />N. CONDEMNATION. The following provisions relating to proceedings in condemnation are a pan of this Dead of Trust.
<br />Application of 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 of the award be applied to the Indectedrtess under the LOANLINER® Home Equity Plan, subject to the terms of any mortgage a 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 />cost, expenses, and attorneys' fees neaessanly paid or incurred by Grantor, Trustee or Lender in connection with Its condemnation.
<br />Proceedings. It any proceeding in condemnation is filed, Grantor shall promptly notiy Lentler in writing, and Grantor shall promptly take such
<br />steps as may be necess by to defend the action and obtain the award. Grantor may be the nominal Party In such Proceeding, but Lender shall be
<br />entitled to participate 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 requesletl by it from time to time to permit such participation.
<br />15. IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental was
<br />fees and charges are a pan of this Dead of Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lender. Grantor shall execute such documents in addition to this Dead or Trust and take
<br />whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Grantor Shall reimburse Lender for all
<br />Miss, as tlescnbed below, logallwr with all expanses incurred in movdirg, pertecting or continuing this Deed of Trust, including "bout limitation
<br />all taxes, ore& documentary stamps, and other charges for recording or registering this Deed of Trust.
<br />Torres. The following shall constitute taxes to which this section applies. (a) a specific tax upon this type of Dead of Trust or upon all or any pan
<br />of the Indebtedness secured by this Dead of Trust; (b) a specific tax on Grantor which Grantor is authorimd or requires to deduct from payments
<br />on the Indebtedness secured by this type of Dead of Trust; (c) a tax on this type W Dead of Trust chargeable against the Lender or the holder of
<br />the Credit Agreement; and (d) a specific lax on all or any portion d the Indebtedness or on payments of pnncvpal and interest made by Grants.
<br />Ia. FURTHER ASSURANCES. The following provisions relating to further assurances are a pan of this Dead of Trust.
<br />Further Assurances. Upon request of Lender, Grantor will make, execute and deliver, or will cause to be made, executed w deliveree, to Lentler
<br />a to Lenders des girme, and when requested by Lender, cause to be filed, recorded, refiled, w rerecorded, as the case may be, at such limes and
<br />in such offices and places as Lender may deem appropriate, any antl all such mortgages, dead, of trust, seounty deeds, security agreamed s,
<br />firencing statements, continuation statement, instrument of further assurance, certthmms, and other document as may, in the sob opinion of
<br />Lentler. be rwcessery or desirable in ortler to effectual, complete, pertw:L continue, w preserve (a) the obligations of Grantor unow the Credit
<br />Agreement, this Dead of Trust, and the Related Documents, and (b) the livers and security interest created by the Deed of Trust on the Property.
<br />Unless prohibited by law or agreed to the contrary by Lender in writing, Grantor shell reimDurea Lentler for all cost and lxplimeas incurred in
<br />connection wtlh the matters reamed to in the paragraph.
<br />17. FULL PERFORMANCE. If Grantor pays all the Indebtedness when due, twmmates the credit line account, and otherwise perlorms all the
<br />obligation imposed upon Grantor under the Deed of Trust, Lender shall execute and deliver to Trustee a rearrest for full reoomeyance.
<br />19. DEFAULT. Each of the folowirg, at the option of Lender, stall constitute an event of detauh ('Event of Dekull under ins, Deed of Trust. (a)
<br />Grantor commis fraud or makes a material misrepresentation at any tine in connection with the credit liea account. This can include, for example, a
<br />lets, statement about Grantors income, assets, Iiabilitie5, a any other aspecs of Grantors fidicial condition. (b) Grantor does not mail the
<br />repayment lerrts ct Na aadtt lire account. (c) Grantor's action or traction adversely affect the collateral M the credit Ace account or Lenders nights in
<br />the Mail The can include, for example, failure to maintain required insurance, waste m dasmuctive use of the dwelling, failure to pay Was death
<br />of all persons liable on the account, transfer of title or sale of the dwelling, creation of a lien on the dwelling without our permission, foreclosure by the
<br />
|