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<br /> DEED OF YRIJST Pa�� 3 �.�
<br /> I • 12�23�1986 (Contiwed) _$�°' �.Q�i�S �
<br /> �nen No 371072 —��--=
<br /> � . .—.�=-_--
<br /> 01'ffU41. ' _
<br /> qipht To Con4e�1. Trustor may withhdd peyment of eny tax,assessment,or clalm In corn�ec4lon wHh u gaad falth dlepute over the obl!getlon �
<br /> (ittepen�(16)d ys atter lhe I en�erlsea'cri If�N6n Is Nled,wlth npN een(16)days nrier�Tr stor��hus noNco of the�Alingpaeaure�lhe/discharpe of�the � ' (''
<br /> Ilen,or 11 requesled by Lender,dePuslt wllh Lender ca�h o�a sufflclent corporele surety bond or olhor eecu�ity 6atistactory!o L�nder In an
<br /> amount suMclent lo dlsaherpe the 11en plus Yny cosW�nd aflornoYs'fees o+other charpes Ihqt could accrue�s a rasull of a foreclosure or sala
<br /> undor the Ilon. In any aontost,Trustor sheli defend Ilsoll and Lendar end shall satisfy any sdverse Judyrn�nl bNa�entacertNnt�yainsl the _
<br /> Froperty. Trustw shaii name Lendar a an ndditfonal ob!�D�e under any aurety bond furnlshed In the contpst Woceedings.
<br /> „ ., �vtden pe of Paymen���anva nmAOapotHclamo de�iver lo Lender�at anty t8me e wrilten sintoment�of Iho'lexes d«assvssrnents apel st ttw • .
<br /> ._ euthori�the epp e�t+
<br /> � ° Proporty. ,
<br /> O�otiee of Caneirueilon. Trusta shan noUly Lender e1 t�AS1 fiHean(16)dnys be(oro a�y�vark Is commeneed,eny eerviees ere furniahed,or any ,
<br /> matorisl�are supplled to ihe Proporty, it enY mea►mnic'9 Ilon, metor�3lmen's Iien, or�iher Ilen couid be tssorted on�ccount of the wak, '
<br /> sorvices.or mslerlsis. Trustor wui upon�mquest of Londer lurnlsh lo Lmnd9r odvance assurances satistactory lo Lender that Trustor can and wi!I , , _
<br /> + pay the cost o4 euch Improvemen�. �'
<br /> rl;, .ir. . ,:,v,t.r,c,�_�
<br /> ,,.,,. ppppEpTY DANIA6E IMSURANGE.The Io1loHinp prov151ons relatinp to Insudnp the Property are a part of lhls Dead ot Trust. , _ ����
<br /> .r:;:
<br /> Metntenen�e of Inaurenca. Trustor shall procure and malntaln pdbles of Are Insurance with standard extended coverado endoreea»nt�on a ''�t79'.�Y
<br /> rep�acemant bnsls for the fuii Insureble value coverinp sll Improvemenb on the Real Propedy In en amount eulM1clont to mvold app�ICatlon of any �:�'�
<br /> coinsurance clau5e,end with a standard mortgaflee ciause In favor of Lender. Trustor shau also prceure 8nd melntaln Camprehens�ve 8enera� ti;;,_.^ �
<br /> Ilabiliry�nsurance�n such coverege amounts as Lender may request w(th truste9 and Lender belnp named a�addltlonal Insureds In such Ilabllity �.�.-_.--_
<br /> insurence pdiC,es. AddRlonalty,Trustor shall matnlaln such other insurence,includlny but not IimOed to hazarC, bus(ness Interruptlon,and �+ ,----.
<br /> t`' { bo�er Inaurance,ss I.ender may reasonabty require. PollGes shall be wr►tlen in form,amounts,coverages end b4sis reasonabty acceptabb to , .,
<br /> ' Lender and Issuod by a compeny or compan i.�reasons6l y acco[�table to Lender. Trusta,�pon request ol Lender,wlll dellver to Lender hom _
<br />_ ' � time to hm witfiout fntl least ton�(10)tdeys'pdor written not ce to ender.tE ch nsurance poucy also shall InGude an e dorsome t p ovlding that ��--
<br /> dlminlsried ;.'f�,,' ..��=-�=
<br /> covera0a In lavor ol Lender wN nol be impa lre d I n a n y w e y b y a n y a c t,o n i l s s l o n o r d e 4 a u tt o f T r u st a or en y other person. Should tho Real
<br /> ; ':��:'. Proparly ei a TrustOr ae reos tobtein�andemalnffiInf Fede ebFlood I�nsurancetto t e exta t suCh Insur�lnr�a 5 equl�rednby Lender ar d Is or ��;�_
<br /> � ( ;�r h8S8Td AIBA, 9 • x
<br /> ui —
<br /> }f r�"•�,; becomas avaiiabie,fa tha term of the loan or for the NII unpald pdnc�pal balance ot ihe loen.or Ihe macimum Ilmit of coverage that Is available, � , ; , £t„��f_
<br /> 'j whlohever IS 1855. {;• r,
<br />_ r','� � '�•/•.����t�.1.I�NfiftlF.
<br /> L��d�r ma�make proof of loss If 7ni..tor 1.:��;�,::� ���c�,,
<br /> ,� Applicatlon of Proca�ds. Trustor sholl prompHy noli�y Londer of any loss or damape to tt�e Propirty. � ��� , . � Y_
<br /> • �;?�.�y faiis to do so wlthin tffteen(1 S)dayrs ot the casualty.Whalhor or not Lendsrs secudty Is impalred,Lender m�y,at!s election,receive�nd reteln �•'�•`���-
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<br /> � , �;-..� the proceeds of any insurence nnd aPP�YIf�����oh aPP Y�he proceeds to tresta�on8and repele�Truslor shall�epairPor�reptylace t e 3.� ,!`,
<br /> '�-'s`��" rastoration and repelr of the Properry• ���'
<br /> -fi:,�."''';��.•,:, :��! •�%tr ' �'��'`
<br /> •; �;,,.� �'•','- ` damaqod or des troye d Impr o v e m e n t s i n a m a n n e r s a 9 1 s r a c t o ry t o L e n d er. Lender shaN,u pon satistactory praot oi such expenditure,pey or
<br /> "��� relmburse Trvstw h�m tne proceeds for tho reasonablo cost of ropair or restaaUqn tl TruEta Is not In delau l t un der t h is D e e d o f T r u s t. A m r
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<br /> a;-�•�- :�� ..,,g prtii.vcw 7i��..r..a:•�^=t bQ°"d��10�"d wlthln 1B0 days aHer thelr recel t and wh�h Lender has not commitlted to the ropair or restoration of �•:�.
<br />�� �� �• ':;� the Pr�peAy a►�a�►be used 8rst to pay any amount owlnfl lo L.ender untler tn�s uead of i'rust�iini��iG y'sf a�::.d!^�'��'���"f°""��^�r,It �'
<br /> '`�' any,s?�all be applied to the princlpal balance of the Indebtedness. If Lender holds any proceeds niter payment In full of the Indebtednass,euch
<br /> #' proceeds shall be pald to Truslor as Trustor's interesls mey appear• ;, .
<br /> Unnzplred Inaurance at 9de.Any unexpired insurance shall Inwe to the benefit af,and De�to,the purchaser of ttw Property covered by this •�j ,
<br /> � Deed of Yrust ai any trustee':sa te or o t her s a l e h o l d u n d e r l h e p r o v l s l o n s o1 this Oaed of Trust,a at any faecicsure sale of such Property :r
<br /> � �, 7rustor's R e p o r t on�nwr�rk�• Upon request of Lender,howevsr not more than onCe a year,Trusta shd fumish to IAndor a repat on sach .:
<br /> " existlnp pdby of Inswancs showinp: (n)the nam�of tha Insur�r; (b)th�dsks InsurW; (o)t h�tmount of Ih�p o N C y; (d)lh�Pr Insund� •,;:
<br /> •� Trusta eh�11,uponpiqu�t cl l�d1r,f luw anrind�ip��ndentt pPnlsx sat►sitat�ory t Lender dd�rmirN thocash wlw ropkatrrN�at M
<br /> - Prop�rty.
<br /> � p(pENDITUREB BY I..El1DER• �f Trusta lafls to compty with nny prqvislon of this Dead ot Trust.a If any actlon or procMdlnp Is comrt�nad Ihat
<br /> woutd mate�lelIy atlect Unders Inlerests In the Properly,Lender on Trustors bshalf may,but ahall not be rsq�r�d to,f�k�my actlon that LendM
<br /> ` deeme opproprlafs. Any tmount thtt Ler�der expmds In eo ddnp will baar Interwt al the rate proNdad ta In tho Noto hom ti»dato Incurrod a ptld �;_
<br /> • ��� � by Lender to tlw d�t�of rqaymenl by Trustor. NI such��ensss,at Lenders opUon,wIN (a�be piyabk on d�mand, (b)b�edd�d to ths boi�na
<br /> �� of lhe Note and be apportlonesf emony and bo payabis with any Installmsnt pnyments 10 becortw dua duriny�tMr (I)th�larm of any apFlicabM
<br /> �' Insurar�ce pollay or (II)Ihe remelnlnp term of tho Note,or (c)be heated as a balloon paymenl wh�h wlll be due 4nd payobb at!ta Not�'s ma:�triiy
<br /> � Thts Deed of Trust slso win socure payment ol these amounta.The riphts provided ta In this pornpraph shaU L�e in addiHon to any othsr dphts or any
<br /> �� .:G remodies to whiCh Lender may be entitled on account of the deteult. Any such aCHOn by Londer shell not be construed as curinp the defnuit so as to
<br />'t'�. bar Lender(rom any remedy ihat ft otherwise would have had. —
<br />,.._, WARRANTY;DEFENSE OF TITLE. The toltowinp provlslons relsUng to owne►ahlp ol the Property are a pert of Ihl9 Deed ot Trust.
<br /> Tflk. Trusta warcents ihat: (a)Trustor holds pood and markelab{e tttte ot record io the P+'opertY�n tae simpb,hee end ctoar ot all i�en�and ����_-..--
<br />' encumbnnce�other than those sot forth in the Re+�P«'P�Y�Ptlon or In any Mle insurance pdky,ti�e rerpat,or Mal tHfe opinlan Issuod In
<br /> � '...�-• . favor ot,and docepted by,Lender In conneotion with this Deed of Trust,and (b)Truator has the tull r(phl,power,and authority to�xecute and
<br />?..y '. :i.':`.� dellver this Deod of Trust to Lender. `•;_-�' -=- —
<br /> ' Befente 0f Titl�. SubJ6ot to the exceptlon In the parayraph above,Trustor wartanb and wiil lorever detend ihe ttHe to the Property ayalnst the ido���:�--�-�
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<br /> ° lew(ul clelms Of 811 pet6ons. In the event any aCllon or Proceedir►�Is commenCed that questlons Trusfor's dlle w the I8n�ere3(of�Tdinp,but �_m����■•-�,-,
<br />` '' Lendor under thls Oeed of Trust,Tmstor shall defend the nctlon at Trustor's e�ense. Tnrstor may be tho nominal party ��r___:__,
<br /> . ' � Londer shall be onBtfed to ptrt�clp4te In the proceeding end to be represonted In the proceedinp by counsel ot Lender's own chofce,and ���_,,�-�_:
<br /> „ Trustor wlil deliver,or cause to ba do,ivcred,to Lender auch Instroments as Lender may request hom time to time to perm�t SuCh partlClpetlon. ��1�����
<br /> �� Comptlence With Lawa. Trostor wartants that tho Property and Trustor's use ot the Property compGes with eil exlstinfl appllcable laws, ' ,, �:::�':
<br /> � ordinances,and repulaflons of governmenlal aulhaitles. *� �y;,,��,:;•
<br /> � ;�t CONDEMHATION.The following provlsions rolatlnp to Condemnatlon procoodlnps are e part of this Deed ot Tnut. ����� �
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<br /> AppllCatlon of Ne t NroCeeda. II ell or any pad of the Properly is condemned by eminent domain prpceetlinps or by any proceedinp or �' . .�
<br /> � purchuse in Ileu of condomnatlon,Lendor mey at Ils eluctlon require lhat ell or eny portlon of the net proceeds of the award be epp l�e d to the :':.�`,�,y,,.„
<br /> : Indebtedrtes9 or 1M�eP4�r a restaYtion of the Property, The net procueds ot the awerd shall mean the eward aftor paYment ot all rctaSOnaDlo
<br /> cosb,ixpenses.and attorneya'fee!�nourted by Trustee or L6nder In conneCtton wilh the condemne8on. ., -
<br /> Prxe�dlnp�. It sny proceedlny In condemnatlon Is flled,Trusta shall promptly notly Londer Ir.wdNny,end Trustor shall promptly teke such •• , �,
<br /> steps as may be neCessary lo defend the act�on tnd obtaln the award. Tnnta may be lhe nominal ptuhj In such proceedlny,bul Lender shall . .
<br />- bo ontitled to particlpate In the procoedinq and to bo reCresented In the proceedlrp by counsel of Its own cholce,and Trustor wlll deliver or _
<br /> �- ' - =- cause to be dellvered to Lender sucH instrumenb es may be requested by li hom time to flme to permit such parHclpaUon.
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<br /> - .. .d.w, ---- - , _ _ ----
<br /> IMPO$ITIOH OF TIJ(Eil, FL�CS APlO CHARGES BY QOVCRNMEHTIU.AUTHORITIEB. TNO t0uovinr�p prrnrs�vns re�auny w tl�.o���������a� .
<br />; ' tees and cherges are a pnrt of thls Dr3ed of Trust:
<br /> Currenl7exes,Feea e�td Charpea. Upon requosl by Lender,Trustor shall exocute such dacuments in edditian to this Deed of Trust end teke
<br /> -- whatever other acflon Is roqucsted bl�Lender to perfect and contirtuo Lender's Ilon on the Real Property.Trustor shail relmburse Lender for all
<br />' taxes,as described below,IoQSiher with all expenses Incurced In rocording,podectlnp or continuing Ihls Deed of Trust,Including without ..
<br />"' ' � limlla115n au texes,tees,documenlery slemps,and other charges for reCOrding or roplstedne this Deed of Trust. • ;,::..
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<br /> TNCea. The toliowing shall constilute taxes to whlch th�s secNon applles: (a)a speciflc ttix upon Ihls type ot Deod of Trust or upon nll or any
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<br /> : � part o1 the Indabledness secured by lhls Deod ol Trusl; (b)a speclflc tex on Trustor whlch Trustor is euthodzed or requlred to deduct hom
<br /> payments on the Indoblednoss secured by thls rype ot Deed of Trust; (C)a tex on thi5 rypc�ot Deod of Trust charposble agalnst the Lendor or
<br />� � the hnlder of tho Nnte;and (d)e spedflc tnx on ali or any portion ot Ihe Indeblodnass or on payrnonts of principal and Interest made by
<br />- ,''. ,. Tnistor.
<br /> "� � �;i�!;':,' Hubsequent Texea. if any tex to whlch thls section applles Is enacted subsequent to Ihe date of thls Dead of Trost,thls event shau havs tho
<br /> � seme eHect es en Event ot Defaull(as defined below),and Lender may exercise any a all of its evallqb�e romedlQS for en Event of Defouit as
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