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<br /> � 0�-is-1996 nEED OF TRUST Page 3
<br /> ��pr,No aoo79a (Continued) �6-� �.�"a�43�
<br /> � _�_.—---_�__._�
<br /> • under Ihe lien. In nny contesl,Truslor shall de�end�ISOIf ond Londer antl shnu sAUSty ony udvarse Judgmonl bo�OrO oi��oreemenl6peln5l ihe
<br /> Properly. Truslor Shnll nnmo LondAr ns an nddillonal oUl�qoo under nny surety bond Iurnished In Ihe coniest proceedlnpo. �
<br /> Evldence of Plymont. "fruslor shall upon demund IurNSh lo Londer 3alislaclory evidonce ol paymonl ol iha laxe9 or essessmenl5�nd ahtll
<br /> ,� � , eulhodie Ihe eppropdate govemmenlnl alliClul to doliver lo Lender et eny Iime a wrl8en 6lalemanl ot Ihe Iaxe9 nnd assessrrwnts ItQpinsl lhs �.
<br /> Properly. 1E�
<br /> " NolicO o1 Co�siructlon. Tn:slOr ShAll n0tity Lender al leasl fifteen(15)day3 bolore any wo�k Is commencod,eny servksa oro lurnl:fl�d,Cr any [
<br /> � � materials ere supplied to the Property, 11 eny mechanlo's Ilen, matorislmen's Ilen,or other Ilen could be assorted on�ocounl of 1M wak, �
<br /> `'�� services,or maleriat9. Trustar�vill upon requesl of Lender Iurnish lo Lender advenCe assurences selisfactory to Londer ihal Trusla Can tnd will �'
<br /> " e pay ihe cosl 01 Such Imprqvemonts.
<br /> ����k PROPERTY DAMAOE INSURANCE. The following prov(slons relatinfl lo fnsudng Ihe Property ate e parl of Ihis Desd o1 Trual.
<br /> _«� � MalntenanCe o}Insurence. Trustor shall procure and malntaln policlos of fire insurpnc9 wflh standUrd ezlended covarnQe Rndo�58menis on e
<br /> replaCement hasls for lhe tull InSUrable vaiue coverinp a11 Improvements on lhe Real Property�n pn emouM suNicleN lo ev0id Ipp�kaUon ot nny F
<br /> i colnsurance clause,and wilh a Slnndard morigagea c�ause In favor ot Lender,logelher wilh such olher hezard end Ilablliry tnsurenco as Londor _
<br /> ��-� may reesonabty require. Poilcies shell be wrilien in lorm,emouniS,Coverages and basis reasonably accepiflble to Lander and Issued by o -
<br /> � company or companies reasona6iy ncceptable lo Lender. Truslor,upon requesl ol Lender,will delivar lo Lendor Prom time to Iime Ihe poOCles
<br /> or CerlifiCfltes of insurence In form satislactory to Lender,Inciud�np stipulations thal Coverflfles wi;l n�l be cenCO�lad a dimlNShed wflhoul 91
<br /> � . least len(t0)days'prior wrilt�n nolice lo Lender. Ench insurnnca poiicy also shafl InGiude en ondorsement providing Ihat coverape in fava ol
<br /> ' Lender will not be Impa!rpd in any way by tiny eCt,omisslon or de�auli of Trusior or eny olher person. Should Ihe Real Property at eny time
<br /> " �• � bacome Ixaled in an area deslgnaled by the Direclor ot Iho Federsl Emeryency Mnnsgemenl Agoncy as A speci�l Hood harard area,Trustor
<br /> ^ egrees to obtaln ar.d malntain Federal Flood Insurence to Ihe extenl such in�urance IS raqulred by lendar nnd fs or becomes�vaY�bk,(a the
<br /> x = tbrm ot the toan and for ihe fult unpaid prinClpal balance of Ihe loan,a Ihg maxlmum Iimit of coverepe thnt IS avallabte,whlChevff►k less.
<br /> L�" Appilei�t�on oT P�eaed�. Trustor shatl prompily no�ity Lender ol eny loss or damege to the Property. Lander may make prool of IoSS II Trusta
<br /> , : � talis to da so wilhin fiRaen(tb)days o�Ihe casually. Whether or nol Le�ders secudty Is Impalred,Lender may,at ils etection,rxoiw end retain -
<br /> Ihe procoeds of any insurance 6nd epply Ihe proCeeds lo Ihe reductlon of tha indebtedness,peyment of any Ilen eflecUrp the P�operty,w lhs
<br />- restoration and repair oT ihe Property. It Lender eiects to apply the proceads to resloration and repair, Trustor shall repak or replace Ihe
<br /> . damaged or destroyed Improvemonis In a mnnner satisfactory lo Lender. Lender shali, upon satis/actory proof ot such expendilure,pay or
<br /> ' relmburse T�usfor from Ihe proceeds(or Ihe rea5onable cost ot repair or restoration if Truslor Is not In detault under Ihis D6ed olTrust. Any _
<br /> .�. procPatls whlch have nol been dis6ur5ed wilhin 18(I days efier their receipt and whlch Lender has not committed to the repaU or restorallon Ot =.
<br /> ' Iha Froperiy shall be used firs!to pay nny nmount owing lo Lender undar ihis Deed of Trust,then to pay accrued Inlerest,a�d the remainder,if
<br /> nny,shall be eppUed lo the principal bnlance ol the Ind�bledness• II Lender holds any proceods atter pnymenl in fu11 a�lhe Indebtedness,suCh _
<br /> proCeeds shall be pald lo Trustor es Truslor's inleresls may appRar.
<br /> Unexplred Insurence e4 Sale. nny unexpired Insurence shell Inure to Ihe benefit of,and pass to,the purchaser ot ihe Properly co�wred by lhlS
<br /> � ' . Deed o17N5t et any fruSte@'s Sele or other sale held under Ihe prov�sions of lhls Desd of Trust,or at any loreclosure sele of Such Property.
<br /> '::, CompllanCC wlth Exlsting InOeDte�ness. During Ihe perlod In wtiich any Exisling Indebtedness descrlbed below Is In eMecl,comgtiance wfth
<br /> ;,�,:-'��u` , �he InSUrenCe prow5ion5 Coniainod in ina iu5iiu���b��i a��o��.:ti�::�~��'�••!!..^'f, !.^.�sb!E!ln�:5 e�,gu rnnell���ta�mm�liatvw wiih tfw insura�e
<br /> � - pravlslons under th�s�aed of trus9,to Ihe extenl compllence wilh the terms of thls Dea�of 7rusl wouid conslHute a dupliallon ot Inswana
<br /> ' requlrement. If any p•rocoeds hom the insurance become payable on loss,Ihe provisions in thls Deed o}1'rusl tor divislon of proceads shaN _
<br /> gpply onty to Iha)portion of th9 proceeds nol payable to the hotder of Ihe Exisiing indebtedn6ss.
<br /> -. ,-•''; • EXPEHOITURES BY LENDEFi. If Trustor fails to comply wilh eny provlslon af this Deed of 7rust, Includlny any obligatlon to maintain ExisBnp
<br /> ;�cy,,,Y4,;.;'y��• Indebiedne,s In gaod Slanding es required below,or if any acllon or proceeding is commenced lhal would meterfally aHecl Lencier's inlBresls in the
<br />-��,�,. ; Property,Lender on Trustor'S behalt may,bul shnll not bo required to,9�ke any ection lhat Lender deoms eppropdate. Any amovnt thnl Lendor
<br /> ` �`'�' exponds in so daing will bear Interest al Ihe rate provided tor in tha Noto from the dale Incurred ov pa�d by Lender lo Ihe date of tepaymenl by
<br />;.f:� -�_�4-'�. Trusta. All such expenses,at Lender's option,wiu (a)6e paysble on demflnd, (b�be added to Ihe balance of the Note and be apporlbnad amonp
<br /> ' .� and be payable wilh any Installmenl paymenls lo becomo due during eflher (i)the lorm ot eny epplicabie Insurance poiiCy or (ii)Ih0 remslniry�term
<br />�'�=� o}ihe Nole,or (c)be treated es a balloon paymenf which will be due end payeble el lhe Nulo's matudty. Thfs Deed ot T�usl elsa will seCUre
<br /> yrt-++...^�
<br />�;,,rr.+:�.�,��a payment of these amounls. The rlghts provided for In Ihis paragraph shell be In additivn lo eny other rlghts or any remedle9lo whkh Lender mey
<br />�--�3 •••,=' enlilted on account of ihe default. Any such actlon by Londer shall not 6o construed as curing lho detault so as to bar Lender hmm�ny remedy that
<br /> '�`"=""'•'�'' it otlwrwise would have Aad.
<br />��_{ra;:°71�
<br /> °�'-�'�;,�a,";� WARRANTY;DEFENSE OF TITLE. The foilowing provislons r6laling lo ownership of fhe Property ero e pnrl of ihLS Deed af Trust.
<br /> ` �'���`��� T(tle. Trustor wanants that: (a)Trostor hotds good and markelable litle of record to the Property In lee simple,frne and ciear ot a11118rts end
<br />�.�-;:c*°�4�QG:",1�
<br /> mcumbrtnces olher than ihose sel foAh In ihe Real Property descrlption or In Ih�Existinp Indebtedness soclion botow or ln Iny tiUe ins�xanca
<br />- -- _ = poliCy,llUe ropoA,or Nnnl tilte opinlon Issued In fevor of,a�d accepted by,Lender In connection wYh this Deed of TnKt,and (b)Trustor has!Fw
<br /> �__--- (ull r1yM,power,and authatty to execulo and deuver Ihls Deed ofTrust to Lender.
<br />--°-� �� Delansa o!Tltle. SubJect to the AxCepllon In the paragreph abovo,yeustor werranls and will forever defend the Utle to the Propetty�lqqinst the
<br /> f A�'-`�� lawtul Clalms ol all persons. In Ihe evenl any sction or proceediny�s commenced lhal questions TruStoPs litle ov ihe I�terest of'hustee or
<br /> -r- �—�n�� Lender under Ihls Deod of Trust,Truslor shau defend tne ection al Truslor's expense. Truslor may be the nominRl pa�y in such procaedinq,but
<br /> -- - Lender shatl be entilled Io participale in the proce�ding and to be represented in Ihe prwee:fing by counsHi ol Lender's own ChdCe,end
<br /> _ t�LL�� Trustor wiil deliver,or cause lo be dehvered,lo Le�der such instrumeMS as Lender may request from Iime to time to permit suCh perliCipgtion.
<br /> -°:�"�
<br /> ,��..-.�� Compllancr With Lt�WS. 7rustor warrants Ihat Ihe Property and Trustor's use of fhe Properly campties with all exfstinp AppliGable lews,
<br />�_,��..,,�.'_::.�� ordin&nces.und r0pul8�lons 0�9ovJrnmenlfll authOrilies.
<br /> �~"""`��-�"!� EXISTINO INDEBTEDtdESS. The following provislons concem(ng exi5tinp Indebledness(lhe"Exlstlnp Indebtedness')ere fl pad ol tht5 Deed ol
<br /> - --�:;;:`���:��' Trusl.
<br /> 2{,y:�_����',.Y-� Dc�sQnp Llen, The lien ol this peed of Trust securing Ihe indeblednass may be secondary end Infodw to en exlsting Ile�. Trustor exprassly
<br />�==r�� •' • covenanis and agrees to pay,or seo to the pnYmonl of,the Exfsnng Indebtedness end to prevent eny detauu on such Indebted�ess,any delault
<br />�r f; 't��,�� u��dar Ihe Inslrumenls ovldencing such lndebtedness,or any det�ull under eny seCUdty documeMs for suCh Indebted�ess.
<br /> � � Qe?ault. If the paymeni of nny Insipliment of principnl or pny intaro5l on Ihe Existing Indebledngss fs not made wilhln Ihe timo required by th0
<br /> �r, � note evidencing such indebtedness,ar Should a defauil occur under Ihe(nslrument securfng such Indebtodnoss and not bo cured dudnp any
<br />�'' eppl{cablv grece pedod Ihereln,then,at tha optlon of Lender,Ihp Indebtednoss secured by this Deed of Trust snall become Immed�ateiy due
<br /> -�F � nnd pnyab�o,and Ihis Deed of Trust shail be In detault.
<br /> � � �� Na�OAodifleallon. Trustor shnll not onler Into any ogreement wilh►he holder ot any morlgago,deed of trust,or other seCUrity egreemant wh{Ch
<br /> � �� � has priorily over lhls Deed of Truet by whtch Ihal agreemenl is mntlit�ed,amended,extended,or renowed with0ul the prior wririon Consunt of
<br />;^ �,t[=i:�' � Lender. TruSIOr Shell neilher requDSi nor aCCep1 ony tuture advanc�BS under gny SuCh seCUnty ugroemeM wilh0ut the pttor writlOro conSCM of
<br /> x Lender.
<br /> -, ,�'?-.� CONDEMNATION,The�ollotving provisfons reialing to condomnation proceedings flre e part of Ihis Doed of TruSt.
<br /> Appncatlon or Net Proceeaa u pu or any pari oi ine nvperiy i7 66iiu'tltiittbu'uy oiTi�no�u u'mTia�i��riwornsri�ya vi`u�unj{riui.veinoy vi
<br /> _.�„�,: purchase In I�eu ot condemnatlon,Lender may at Its e:ecflon requiro Ihal all or nny porflon of lho nel proceeds ot the award tre eppliod lo!he
<br /> Indebteenoss or tho repulr or rostorallon ot the Propsrty. Tho net proceeds ot the oward shall mean the award after peyment ot ol1 reasonr.bb
<br /> costs,expenses,end aliorneys'fees InCUrced by Truslee o�Lendar In conneclion wifh lho condemnatlon.
<br /> -� ProCeeQing9. If any proceedmg In condemnatfon is filed,Truslor shall promptly notity Lender in wrfling,end 7ruslor Shall promplty lake SuCh
<br /> �� �. Sleps tis may be neCessary lo defend the actlon end oblain Iho nwnrd. Trustor mny be the nOminnl party In suCh proceedlnp,but Lender shuB
<br /> be entilled to pert�c�pate in tho proceeding and lo be represenled in Ihe proceeding by Counsel 01 Its own Cholce,end Trustor wfll delivtx or
<br /> -- Ceuso to be de�ivered to Lender such InslrumenlS as may be requested by d from lime io lime 10 pe�mit Such perliCipafion.
<br /> IMPOSITfOPI OF TAXES,FEES AND CNARGES BY(30VERNMENTAL AUTlIQRITIES. Tha lollowing prov�sions relating lo govarnmenla0 taxes,
<br /> teos end charges nre a part ot fhls Oeed of Trust:
<br /> • � Current Taxe9,Fess and Charges. Upon requesl by lender,Trvstor shall execule such documents in adddion to Ihls Deed o1 Trust nnd tako
<br /> , •� whalever other nclion is�equested by Lender lo perter,l and conllnuo Lender's lien on Ihe Real Properly. Truslcx sha11 reimburse Lender lor all
<br /> • taxes, as desc�ibed below, logelher wilh nll expenses incurred in reCOr��nfl, pe�tect�nA or conllnuing Ihls Deed ol 7ru51,InCludinp without
<br /> _ ' = limflfllion a���axes,leos,documentary slamps,and other chargps fOr reeording or reglstering Ihis�sed ol Trusl.
<br /> _ � � Taxes. The lollawing shail canstdute taxes 10 wh�cn Ihis section appi�os: (e)a specllic tax upon thts type ot Oeed of�SI Qr upon all or any
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