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DEED OF TRUST n �
<br />Loan No: 1p1235829 (Continued) �" �- � � J��� Page �L
<br />shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging nr paying all taxes, liens,
<br />security interests, encumbrances and other claims, at any time levied or placed on the Property and paying all costs for insuring,
<br />maintaining and preserving the Property. All such expenditures incurred or paid by Lander for such purposes will then bear interest at tha
<br />rate charged under the Note from the date incurred or paid by Lender to the dete of repayment by Trustor. All such expenses will becnme
<br />a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be
<br />appnrtionad among and be payable with any installment payments to become due during either (1) the term of any applicable insurance
<br />policy; or (2) the remaining term nf the No#e; br (C) b� traated es a ballpon p�yment which will be due and p9yable at the Note's
<br />maturity. The Deed of Trust also will secure payment of these amounts. 5uch right shall be in eddition to all other rights and remedies to
<br />which l.ender may be entitled upon Default.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
<br />Title. Trustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple, free and clear of all
<br />liens and encumbrances other than #hpse set forth in the �teal Property description pr in the Existing Indebtednass section below pr in
<br />any title insurance policy, title repnrt, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of
<br />Trust, and (b) Trustor has the full right, power, and authority to execute and deliver this Deed of Trust to Lender.
<br />Defense nf Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the title to the Property
<br />against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the
<br />infe�est nfi"iruszee sbali�defe�ad.#ha-actian__at ?r,ustor's expense. 7rustor may be the
<br />nominal party in such proceeding, 6ut Lender shall be entitled to participate in the proceeding and to be represented in the proceeding
<br />by counsel of Lender's own choice, and Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may
<br />raquest frqm time to time to permit such particip8tian.
<br />Compliance With Lews. Trustor warran#s that the Prqper#y and Trustor's use of the !'roperty cqmplies with all existing applicable
<br />laws, ordinances, and regulations of governmental authorities.
<br />Survival of Represent�tions and Warranties. All representations, warrenties, and agreements made by Trustor in this Deed of Trust
<br />shall survive the execution and delivery of this Deed of Trust, shall be continuing in nature, and shall remain in full force and effect
<br />until such time as gorrower's Indebtedness shsll ba paid in full.
<br />EXISTING INDEBT�DNESS. The following provisions cvnCerning Existing Indebtedn�ss 8re a pert af this Deed of Trust:
<br />Existing Lien. The lien of this Peed of Trust securing the Indebtedness may be secondary and inferior to an existing lien. Trustor
<br />expressly cavenants and agrees to pay, or 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, or any default under any security documents for such
<br />indebtedness.
<br />No Modification. 7rustor shall not enter into any agreement with th� hblder af any mortgage, deed of trust, or other security
<br />agreement which has priority over this Deed of Trust by which that agreement is modified, amended, extended, or renewed without
<br />the prior written consent of Lender. Trustor shall neither request nor accept any future advances under any such security agreement
<br />withput the prior written consent of Lender.
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shal) promptly notify L.ender in writing, and Trustor shall promptly
<br />tske such s#eps as may be necessary to defend the action and o6tain the award. Trus#or may be the nominal party in such
<br />proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own
<br />choice, and Trustor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by
<br />Lander from time to time to permit such par#icipa#ion.
<br />Application of Net Proceeds. If all ar any part of the Property is condemned by eminent domain proceedings pr 6y any prpceading or
<br />purchase in lieu of condemna#ion, Lender may at its election require that all or any portion of the net proceeds of the award be applied
<br />to the Inde6tedness or the repair or restoraYion of the Property. The net proceeds of the award shall mean the award after payment of
<br />all reasonable costs, expenses, and sttprneys' fees incurred by Trustee or Lender in connection wi#h the cpndemnstipn.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTWORITIES. The following provisions relating to governmental
<br />taxes, fees and charges are a part of this Deed ofi Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addition to this Deed of 7rust
<br />and take whatever other action is requested by Lender to perfect and continue Lender's lien nn the Real Property. Trustor shall
<br />reimburse Lendsr for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed
<br />of Trust, including without limitation all taxes, fees, documentary stamps, and other charges far recording or registering this Deed of
<br />Trust.
<br />Taxes. 7he following shall constitute taxes ta which this section spplias: 11) a specific tax upon this typa of Deed of Trust or upon
<br />all nr any part of the Indebtedness secured by this Deed of Trust; 12) a specific tax on Borrower which Borrower is authorized or
<br />required to deduct from payments on the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of Deed of Trust
<br />chargeable against the Lender ar the holder of the Note; and (4) a specific tax on all or any portion of tha Indebtadnass or on
<br />payments of principal and in#eres# made 6y 8prrower.
<br />Subsequent 7axes. If any tax to which thi8 saction applies is en�cted subsequent #p tha date of this Deed of Trust, this event shall
<br />have the same effect as an Event of Default, and Lender may exercise any or all of its availa6le remedies for an Event of Default as
<br />provided below unless Trustor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in tha
<br />Taxes and Liens section and deposits with Lender cash or a sufficienC corporate surety bond or other security satisfactary ta Lender.
<br />SECURITY AGRE�MENT; FINANCING STAT�M�NtS. The following provisions relating to this beed of l"rust as a securi#y agreement are a
<br />part of this Deed of 7rust:
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