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<br /> .' ��2-23-19g6 DE�D OF 'PRUST Pnge 3 " �,� :'-��:;� :-
<br /> Loen No 376�89 (Coh2lnued) •: �° �1�111
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<br /> Proporty. Trustor shall nnmo Londer as an addillonal oblipoa undor nny ouroty bond furnlshcd In tho conlc�t procc�dlnp�. :
<br /> EvlWttce of P�yment. Trustor sha�i upon demand lurnish to Lendor sntlsfactory evider�ca at paymenl af the taxos or assassmants and ehell _
<br /> uutn�ri..e Ihd approprlate povernmental offictal lo deliver to Lendor at any 1lme a wrlttars statement ol Ihe t�es and�esessmenb�pninst Ih� .
<br /> Property.
<br /> Notic�o}Ca6ftructbn. Trustor shall nollly Und�r al knsl fifteon(16)deYs b�fa�tny wak ie comrtHnced,tny s�rvfCa ara furnislwd,or ony .
<br /> ssMc��or mntC�lp=t1. T ust e srlri�upon�roqt��it of Lend�um shmto��l�onder edvance essuhances eaUsl o ory to�Le der that�rusta can a d vulu �
<br /> pay Ihs cost of euah Improvsments.
<br /> PROPERti'Y DAMAOE INBUHANCH.The followlnp provislans retatinp to Insudnp the Props+ty aro e psrt ul thl�Oeed of Trust. •
<br /> �•• Malnten�fc�o(Inwr�nce. Trustor ahali procure and melntaln polcles of Are Insurance with standard extended coverepe endacoments on a __
<br /> reptecemont basls ta the ful!Insurabie value coverinp all Improvoments on the Real Property In an amount sufAclent to tvold appllcation of eny
<br /> Icoinsurnnce clsuse,end with e standard martqapee clauso In favor of Lender,lopether with nuch other he2ard and IIablGly Insuronce as Lender
<br /> � may reasonably requ�re. Policles shail bu wdHen In form,amounts,Coverages end basis re35onably acCeptBblo to Lender and Issued by a _
<br /> campany or companles reasonably flcceptable to Lender. Trustor,upon request of Lender,will deliver to Lender Nom Ilme to dme the pol�les
<br /> or Cortiticates of insurence In form salisfactory to Lender,Includinp stlpulations that coveragos wif►not bs eanCelled or dlminished wlthaul at , __
<br /> least ten(t0)days'prior written notice to Lender. Each Insurance poiicy also shali include an endorsement providinp lhat coverage In favor of ��.=M1�
<br /> Lendor will not be Impaired fn any wny by any act,omisston or default of Trustor or eny other person. Should thp Renl Property ut any Hme .�;.,��:-
<br /> bocome Ixated In nn aroa dosipnuted by the Oireciw ol ihe Focteral Emwpenoy Manapiment Apenoy as a sp�clal Aood hlzard ari�,Trusta `�__,
<br /> � ayraes to obtaln and maintatn Federal Flood Intunnce to the exlont auch Insunnce h raq�ired by l.ondar and Is a b�comrs swllabN,tor tM
<br /> ' term of lhe loen a ta the full unpaid p�inclpal 6atance o4 tha loan,a the meximum Ilmit o4 coveraps thet h avaNabFu,wMchever Is Isss. .�.:_
<br /> � Appllr.etbn of Proceeds. Trustor shail promp6y notly Lender of any loss or dems�e to the PropertY• Lender may make proof ot loss if Trusta .y;•
<br /> falis to do so wllhln Afteen(1!i)days ot the casuslty. Whether or not Lender's 5ecurtty is Impalred,Lendar may,et fb eleCtion,reCelve and rAtflin
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<br /> the proceeds ot any Insurertce and eppry the proceods to the reGueuon o4 ttse tacl�:btcdrs�.paY►r�5nt ot eny Aen et(ectlng Ihe PropKty,a Iho __
<br /> , � restaatlon and repalr of the Property. It Lentler eiects tp epply ihe proceeds to restore8on and repalr,Trusta aheil repnlr or replece ih9 ;
<br /> dameped a d�troyed Improvemanls in a menner aatisfactary to Lertder. Lender ahall,upon eaHsNctory proof of such e�endfturo,pay or .::.�, ;
<br /> ralmbursv Trustor from tha proceads for tho reEtsonable cost of repalr or restoration It Trustor I5 not In dafault under thfs DE►ed of Trust. Any <;..;�,;?�, •
<br /> procaeds whlCh have not been disburssd wHhln 180 days after lheir rece�pt and whlch Lender ha;.not Committed to the repalr or restorallon o} :,=
<br /> the Property sha11 be used flrst to pay any smount owlnfl to Lender under this Deed of Trust,then to pay accrued Interest.and the remeinder,H t =
<br /> � any,shau be appiled to lhe principnl ba�ance of the Indebtedness. if Lender holds any proceeds attor paymont In tull of lhe Indebtedness,such �',��;�,,_�_
<br /> � • proceeds shall be pa l d to Trus tor as Trus ror's In t e r e s t s m a y e p pear. •�
<br /> Unex Ircd Inwr�nce�t Sate. Any unexpired Insursnce ehall Inure to the benefl►of,and pass 10,the purcheser of the Property covarad by lhis ` . �
<br /> � Deed o}Trust at any trustee's sale or other saio held under the provlslons of thls Deed o!Trust,or at any forociosur�eaN af 6uoh P�oparty. ..�,:.=
<br /> Complim�w�lh Exlitlny Indabtedna�s. Uudnq the perlod In wh�h any Exisflnp Indebteaness deyxibed beio�+v h In eifect,compUance with ��;�;;
<br /> ,...�aa�:=_:
<br /> � the Insurance provislons conteined In the InsWment evidenclnp such F.�dstln9►ndebtedness aha!I consHiule complience with ths Insurance R
<br /> � provlslons under this Deed of Trusl,to tl�e exlent comp l i anco w i t h t h e�erms of thts Deed af Trust would CansHtute B dupNcatlon ot Insuranee ��._
<br /> ..±marnm�nt. If any nroceeds hom the InsuranCe b�camo prYable on loss,the provlslona in thls Oeed of Tnut fa dMslon of proceeds shnli .�.
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<br /> �' apply enly to thtt porHGn of thB prOCeeds not plyYbl9 to the hWtlo►ot ttte raosurW inoeuiau+�os�.
<br /> � E3tPENDITt1RE8 BY LEMO�R. If Trusior falis to comply with any provlston ot this Daed of Trust,Includinp any obiipaflon to melntaln Extstirsg ° ��
<br /> 0 R
<br /> IndebUdn�as In yood sun�ing as requ�rod pelow,ot if any actlon a procaad�np fa commencad thnt woWd matedaliy aff�ct L�ndo►'a Inbr�eb In ttM
<br /> `' Properly,Lendsr on 1'rustors behalt m4y,but stuY not he raqulred to,taks any action that Londx deems appropriats. Any�mount ttwt L.�nd�r •.-
<br /> f` expende In so ddrp wIA bear Interest et the rate provid�d lor In tM Note kom the dnte Incurrod a pald by Lendsr b the ddt� of nQtyrtwnt by ! '_,_.
<br /> Trustor.Au such expenses,at Lenders optlon,wln(a)be peyabte on demand, (D)be added to!he batanca of the Note and ba�ppaHoMd�manp
<br /> end be payable with any Installment payrt�on ts to beceme due dur�n p ellher (I)the term of any apPlicabte Insurance poHay a (N)fhe romalnlnp term ___
<br /> ol the Note,ar (o)be Ireated as a belloon payment which w�li be due and pnyable at the Note's maturity. This Deed of Trust tiso will aacurr _
<br /> ' payment ot these amounis. The riphts provided for In thls parapraph shali bs In addltlon to any other rlphb or any remedfa to whlch Lsnder may he
<br />� entitled on eaount of the defeuit. Any such ectian by Lender shall not be constnied as curiny the dafuult so ss to b�r Lendar from�ny romedy that
<br /> li othernlse would hdve had.
<br /> yyARqAllpy;pEFENSF pF TI7LE. Tho followiny provlsions relatlnp to ownaahip of the Proporty are a put o!thh Da�d of Trusl
<br /> Tltf�. Truator witrtcnb that: (s)Trusta hdds Qood and marketabN UW of rmcad to the Propsrly in fee simpb.trs�end deu of�t1 Iisns and ��,�..,�
<br /> encumbmnca�other than those aet lorth In tM FtNi Prop�rtY dssaiptlon or In tPN ExbUny�ndebt�dneas e�ctlon below or in any tltb intunnce ��.�
<br /> � poYCy,titls report,a final Htls opinlon kssued In hvor of,nnd eccepted by,Lender U Conracdon with this D�ed of Trust,a�d (b)Trustor h�s tM
<br />; � ,� � iW rlpht,power,and nuthority to executs and deMver thla Dsed of Trust to Lend�r.
<br /> D�tMS1 of Tlfle. SubJect to the excepNon in lhe ptn8raph abow,Trustor warranh and wiil tonvsr dNend fh�tfll�to tM PropKty p�inst tM
<br /> lawlul c4►ms of all persons. In the ev�nt �ny octlon a proceetHnO h comrtwncad that quasHons Tnntor'e dda a ths InierKt ot Trustpe u
<br /> � lend�under this Deed of Trust,Trusta shau dofend the action at Tnntofs�enss.Trustor maY b�ths nominQl pury In tu�h procMdinp�but
<br /> <'',� � Lende�shail bo sntiBed to pardGpale In the praceed�n0 and to be npresantwl In the pracsedirq by counsel of Unda'c own chdco,and
<br />�,•. • �•� Tn�tor will daliver,or cause io be delivered,to Lender such Instrumen�as Lender rrNy roquest hom Nme to tlrtw to pKrreli such partiCipaHOn. —_ �
<br /> - •- :' �; COmplllnce With Lawa. Trustor wartants Ihat the Property and Trustors use of the Properly complles with �A exisflnp appllcabie kws,
<br />_"__ ordinances,and reputations ol govemmental nuthailies. r __
<br />�•=i„.�.�.. .� 1.• EXISTING INDEBT[DPlESS. The foUowin9 provfsions conCarn!np exfstinp Indebtednoss(ihe'�xls8ng Indebtedness'ar� �paA ot tMs Deed of -_-
<br />� , ._... . 'i TNSt. �?��6:.�^r�.
<br /> N' ���� � � ' Bdatfnp Lien. The Ilen ot this Deed ot Trust secudnp the Indebtedness maY be saconduy nnd inlertor to an edstlnp Uen. Trusta�xpnssly '���
<br /> '�°�� � eovenants end agrees to pay,or see to the ptyment of,the Exlstlnp Indebtedrwss and to prevent any defautt on suCh Indebtedness,nny defeutt y;�_.—_-_„_
<br /> . �` ..-- � :'. under the Instruments eW@endng such Indebtedness,a eny defauft undsr any securflyr docum�n�fa such InQebtedn�a. ;`;��"`�`.��;"¢'=°=_
<br /> y tkhuH. If the payment ot eny Inslallment ot pr�ncipal or any interest on the ExlsBnfl lndebtedness is not made wY.hin tha tlme roquk�d by tha � T'�;� ��i�
<br /> nota eddendnp suCh Indebtedrt�,M should a detaWt occur undsr the instrumant secudrq such Indabtedness and not be eured durinp nny _..:.,,�_--.� :;'
<br />=• � appltcable grace perlod thereln, Ihen,ut fhe optlon of Lender,the Indebtedness secured by th�s Dead of Trust shaA become Imm�dietety due ��-=>;,:•;�
<br /> • ;'x?';.:".;, ,.:�,�.:',r.:
<br /> - " end payubfe,und fhis Deed ul Trust shall be In da'ault. .:
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<br /> No Moditicatbn. Trustor sdali nol enta Into eny apreemenl wlth thn hdder ot eny mortyaQe,deed of Uust,or other 6ecu�fy apreement whbh , , , :
<br /> � has pdodty over tma Deed of Trusl by which that agreement Is modHled,nmended,extended,or renewed without ihe pda wrtiten consant ot , ,,•,;�r,,, `
<br /> Lender. Truslor shall nelther request nor BoCept eny tuture advanCes under any suCh seCUtlty ayreement without lhe pdor wtltten consent ot
<br /> l.ender.
<br /> CONOfMNATIOq. The folloNiny provislons relalirp to condomnation proceodinps are a part o}thb Deed of Trust.
<br /> ' ApptiCetlOn of Net PrOCeet1�. If alt or any pert ot the Property Is condemned by eminent domain proceedinps or by any prpCeadinp a
<br /> J � pur�hase In Iieu of coRdemneHon,L�nder may at Its etectlon requlre that all or ony portion of the net proceeds of the award bo appiNd to tha „
<br />- - _ ��n�,��r,ass er thw raoair a restoraUon of the Properly. The net proceeds of the award Sholl rnesn the flwntd aRer payment Of aH reeaonflbW
<br /> __, ___ ...---�-- --- - •
<br /> costs,expensos.and a4lorneys'fees incurred by Trustee or Lender In connecUOn Nnm tne condemnaoon. � �--� _, -
<br /> proesedlnpt. It any praceedinfl In condemnaUon ts filed,Tnistor shall promptly noUty Lsndor In wddnp,and Trusta shall promptry take such
<br /> sleps es may be necessary to deMnd the actlon end obtain the awnrd. Trustor may be the nominal party In such proceedinp,but Lender shall
<br /> , be enllHed to participate in the proceedlnq�nd io be represented In lhe proceedlnp by caunsel ol Its own chakw,and Truslor w{II deNvx►ar
<br /> cause to bo dol►vered to Londe►such Inst�uments as may be requested by it hom Nma to Ume to permit such parUclpetlon.
<br /> IMPOSITION QP TAXE3,FEES AND CHARGEB BY GOY�iNMENTAL AUTHORITIE3. The tollowinp provlslons�elaUnp to povanmental taxes,
<br /> - tees flnd cherges are e part ot this Deed of Trust:
<br /> Curront Taxes,Feea and Charpea. Upon requASt by Lender,Trustor shali execute such documents In sdditton to thls 08od o}Trust nnd take
<br /> v�hatever other actlon Is requested by Lender to perfect and contlnue Lender's Ilen on the Real Proparty. Trustor s1u�Ji relmbuibe Lender for ell
<br /> tsxos,as describod below,togother with eil expenses Incurced In recadinp,pertectiny o+conUnWny thls Deed af Tnn4,Includiny wllhout
<br /> " Iimitalion ali ter.es,feos,documontnry stamps,und other chargs�tar recwding or rcpstsrinp�hfs Deed ot Trust.
<br /> Yaces. The latlowlnp shall constituto toxcs lo whlch Ihls seclion applies: (a)a spec►flc fax upon Ihls type of Deod of Tnrst a upon all a any � .
<br /> _ part of ihe Indebtedness seCUred by thls Deed of TrusF, (b)a SpecffiC tax on Trustor which Tnr�ta Is aulharir�d a/equind to deduct trom
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