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201007741
<br />DEED OF TRUST
<br />(Continued)
<br />PRbPER'�Y DAIIAAGE INSURANC�. The foliawing provislons relating to in�uring !he Prvperty are � part of this Deed af Trust.
<br />A�ge 3
<br />Malntenance af Inaurarr�e. TrusWr sha11 procure and maintaln ppliolea of fire Ir�surancB wlth standard extended ceveraga
<br />endorsements on a repleaement basis for the full insurable vatue covering elE fmprovements an the Reat Praperty in an amount
<br />sufficierrt to avafd applicatfan aP any coirisurance clause, and with a standard mortgagee clause In favor vf Lencier, tagether with such
<br />other hazard and llablliry ihsur�anoe as Lender may reasonably requtra. Pnllcfes shail be written in form, amour�ts, aoverages and basis
<br />reasonably acceptable ta Lender �nd issued �y a company or nompanies reasanahiy accepta6l� tp Lender, Trustor, upnn request of
<br />Lender, wlil daliver ta I.ender from time to time the policiss ar cerkiflr,e�tes of Insurance in form satisfactory ta Lander, inciuding
<br />stipulations that aaverages will not be cancelled nr dimin6shed wfthout at least ten (90) days prfor wrftten notice fo Lender. EacYi
<br />Insuranae palicy �f�o aha11 include an enda�samerrt providing that caverage in favar of Landel' will nnt be Impaired In any way by any
<br />act, omission or default of Trusbar ar any othsr parspn. Sf�ould the Real Praperly be Iocated in art area designated by the pirector o€
<br />the Fedaral �mergericy Management Agency as a specia! tinod h�zard �re�. Trustor agrees to obta(n and malntaln Federal Fload
<br />Inaurance, If avaifabfe, for the m�cimum amount of Truator's credit line and the full unpaid pr3nc�pa! balance of any prior liens nc� tha
<br />property se�,trlr� the laan, up to the maximum po[Icy Eimits sat under th� Natianal Flood Insurance Prograrr►, or as atherwise requlred
<br />by Lender, and to mairyfaln such insurance for the t�rm at the loan.
<br />Appftcation of Procaeda. Trustar ahall promptly notify Lsnder at any loas or damage to the Prpperty. Lender may make praof of Ioss
<br />H` Trustor fails tq dp so withEn fltteen (1�) days of the casuatty. WMether ar nat Lender's savurity is impaired, Lender m�y, at I,.ender's
<br />election, recefve and ratain th� proceeds of �ny insurance and appty khe proceeds to the reduction of the tndebtedness, payment af
<br />any ilen affec#ing the Property, ar the restorstinn and repair of the Property. lf Lencier elects tn apply the prpcesds to rsstpratian and
<br />repatr, Trustar shall repair or replace the damaged or destroyed improvements ln � manner s�tIsfactory to Lender. Lender shall, upon
<br />satisfactory praof af such axpenditare, pay nr refmburse 7rustor fram fhe praceeds for the reasonaE�e cast of repalr ar restQratian if
<br />Trustor is nc�t in defeult under this beed of Trust. Any proceeds which have not been dlsbursed wlfhln 180 days after thefr receipt
<br />and which Lerrdar has nat c�mmitted to the re�aair or restaration af the Praperty shall be used first to pay any amount owing ta Lender
<br />under tfiis Deed of Trust, then to pay accrued interest, and the remaincier, if any, shatl be applied to the princ€pal belancs of #he
<br />Indabtedness. If l.ender hnlds any proceeds �1ter payment in fuli af the Indebtedness, such proceeds shall ba p�id to 7rustor as
<br />7rustar's ir�rests may app�ar.
<br />Complisnce with �xistinp indebtedness. During the perlod in which any �xisdng Indebtedneas descrlbed belaw is in efFect, compliance
<br />with the insurance prnvlsivns containad fn the instrument evidencing such Existtng Indebtedness shall cvnstitute cnmpl'�ance with the
<br />insurance prpvisbons under thts �eed of Trust, ta the extent compElanr•a With the terms of this [7eed af Trust wflu{d constitute a
<br />dupiicatian of insurance requirement. !f any proceeds froz► the insurance beovme payabie an lass, the provisions in this Daed pf 7'rust
<br />for division of praveeds shall appiy only to that portlan of th� proceeds not payabfe fo t[ze holder a'F ihe �xisting Indebtedness.
<br />l.�NpEA'S EXP�NDITUR�S. If Trustor fieils (Ay to keep the Property fre� of all taxes, liens, security InYerests, encumbrances, and other
<br />ciaims, (B) to provide any r�qulred insuranc� an the praparty, (C) to make rapairs tp the propetty vr to vomply with any obligatian to
<br />maintaln �xis�ng lndebt�dneas in gvod standing as required b�low, then Lender may do so. If any actFon or procaeding is �orr�mencad that
<br />wou€d ma6erlaliy affect Lender's It�terests in the Property, then Lender on 7ruatar's hehalf may, but Is nnt requ(red to, take any actian that
<br />�ender believes ta be appropriate tv pratect Lende�'s interests. Ali expenses incurred or paid by Lender for suct► purpases wilf then t�sr
<br />lnterest �t tho rafe charged under the Credft Agreement from the data incurred or pa3d hy Lender t� the date of repayment by Trustor. All
<br />su�h expensas wfll 6eoome a part of the Indeb#edness and, at Lender's aptfon, wili (A) bB payable on demand; (B) be added to the
<br />bafance of th� Credlf Agreemant and be appqrtlonBd among and be payable with any Instalimsnt payments to become due during either (1)
<br />the kerm af any appticahle insurance policy; or (2) the rsmafning term af ihe Credit Agreement; ar (C) be traated as a qslfvan payment
<br />which wflt he due and payab�e at the Credit A�reemenfs maturity. The I?eed of Tre�st also will s�oure payment of these amounts. The
<br />rights provlded far in this paragraph shall i�e in addifion to any other rights pr any remedies to which Lender may pe entitled on accaunt pf
<br />�ny d�fault Any such action by Lender shal! not be construed as curing the dafault so as ta k�ar Lender from any remedy that it otherw+se
<br />would have had.
<br />WARRANTY; DEF�MB� OF TITLE. The 'fc�llawing provisions relating to ownarahlp of the Property are a part ofi this beed of 7rust:
<br />Titta. Trustor warrants that: (a) Trustar holds good and marketable titls af re�rd to the property in fee simple, free anci clear of all
<br />Ii�ns and encumf�rar�ces nih�r than those set forth in the Re�l Froperty descripUqn ar in the �xisting Indebtsdness sectinn below or in
<br />any title inaurance poiicy, title repv�t, ar flnal titl� opinion issued in favar of, and acceptad by, Lendat in connectivn with this Deed of
<br />Trust, and (b) Truatar has tha full right, power, and a�thority to execute and deliver this deed n1' Trust tq Lender.
<br />pefense oT 'Tttle. 8ubject to the exceptian in 3he paragraph abave, Tn�stor werrants artd will forever defend the ti�e to the Properly
<br />ag�ihst tMe lawful claims o'f ap persons. In the event any action or proceeding is cammenced that questfana Trusto�'s title or the
<br />intel1ast af Trustee or l.end�r und�r this peed af Trust, 7rustor shall defend the action at 'TrUator's expense. �rustor may be the
<br />nominai party in such prviceeding, but t.ender shall be entftted ta p�r�cipata in the proceeding and tc b� represented In the proceeding
<br />by counsei of Lenders own chofce, and Trustpr wAi delfvar, or oause to he d�livered, to Lender such tnstruments as l.ender may
<br />raquest frarn tfrne ta ttme tn permEt such partinipation.
<br />Comp�ance W1th Laws, Trustor warranka that tha Properly and Trustior's usa of the F'mperty compiles wlth all existing appiicabla
<br />law�, ordlnancea, and regvlatfons of govemmente! autharkies.
<br />Sur+riva! nf prorplses. All promises, agreements, and st�tgrr�nts Trustor has made in this Deed vf Trust shall survive the executfon
<br />and delivery of this Deed of Trust, shati be qvntinuinq !n nature and shall remain in futl force and effect unttl such time as Trustpr's
<br />�ndebt�dnoss is paid in iuil. '
<br />�'JCISTING INDEBi'EDNESS. The foilowing provisions dvncernlna Existing lndebtednass are a part oi this Dead of Trust:
<br />Eklstl�� 11en. The flen of this be�f qf Trust securing the Indebtedness may be seodhdary and fr�fertor to an existing lien. Trustar
<br />expressly co�enants and ag�ees to pay, or see tn the payment of, the �xisting Indabtedness and to prev�nt any default on suah
<br />indebtedness, any dafault under the Instruments evidencing suGh indebtedness, or any deFault urEder aoy security dvcuments fpr such
<br />ind�btedness.
<br />No Modiflcatfon. Trustor shall nat enter Into any egreement with the haidsr af any martgage, deed pf trust, or other securliy
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