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<br /> . . ` ' DEED OF TRUST Page 3 t --'S`` �
<br /> 01—t4-1998 � ������ , - •
<br /> ' • Loan Mo 6t?S9� (Cot�tiaue� 9� . ~
<br />, . ,- , < �. �
<br /> � , Uen.or it requestsd by Lende�.deP�ft with Lender cast�or a suf6dent eorPorate suretfl bond or olher s�curNY s�sfada�Y to Lender tn an -=; ,:
<br /> . amount suftident to discha�9e the fien ptus any costs and attomeys tees or omer char8es ttiat coutd aa�uue as a�aseiit of a foredas�ue ar sate � � "`'., :,:
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<br /> . und�the Uen. tn enY cor�es►.Tn�tor shaD defend�self end Lender and shafl saSsN�Y adverse jud9merR betoce enforoemenl egainst iha • `4-:�:
<br /> " ' • ` Properh►.Trustor sl�a0 name Lender as an edd�h'w�a1 oDQgee under enY s�uetY bond finnished in tha cont�t proceeQ'in9s. �, �:. `c`
<br /> . , � `` Evldenee o?PaymenL Tnutor shaD upon demand tumish to Lendsr�Hstactory evidence of payment af the t�oes or as�smerts end shaU �. :.r �,c
<br /> � aulhodze Uie epproPriate 9overnmerdal afHdsl ta de6ver to Lsnder et anyr time a w r i t t en s t a t eme�of the tazes and essessmer�ts aSatrgt the ..
<br /> ., PraPedf►- r.;:` `. :.
<br /> HnBee o!ConsLruet[on.Trustcr shsU notiPy Lender at least fifleen(1S�daYs befoce enY wak is commenced anY senRoes ere tu�m�hed.or enY •�� ;�• . ".;`, `';
<br /> . ��.�5 materiais are suppfied to the ProPertY.H any mechaNds Usn.materialmens Gen,or othsr Qsn could be asserted aa¢ccowd of the vrak . .,
<br /> Servloes.or mat�lets.Trustor vn11 upon request of Lender fwnisb to Lendet advance sssWanoas sat�Tactory►to Lendet that Trustor can end vrD . .�,`".,r��~
<br /> �. ; PaY the cost o!such improvements. . '.` '�
<br /> : "t �tBPSiiY GAARAGE{tlSilf�ATtCE.7hs toRowin9 Provfsians retaUng to i�tsurtr+g the PropeRY ere a Pert ot Uiis Oead ot Trust. 1 :_
<br /> � ; Matntenanse of Insuranee. Tnutar shall procure and maintain potfdes of frre inswance vrith standard ext�nded cavsrs9e endassme�s on a . �� _.�_;._�:
<br /> �epiacemeM basis tor the fuU insurabie vatue coverin9 atl Improvemertis on the Reai Propedy in an amourd sufftderrt to avoid appift�on of atry -
<br /> cainsuranoe dause.and with a standard mortg89e8 dause in favor ot iertder.tc9elhe�wfth such other ha�rd 8nd 6ab�tyr insurance es Lender _
<br /> ' . � may reasonabry rec{uire. PoGaes sha0 he written in fortn.amounts.coverages and 6asis reasonabty aeaptsble to Lectder and issued by a ; ..
<br /> company or oompanfes�easonabty aoceDtable to Lender. Trustor,upan request of Lender.wU dWver to�ender irom time to time the pnGdes :.�._,'
<br /> � � a certific�tas of insurance in fortn satistactnry to Lender,indudng st�uiations that covet8ges w�l not he cano0ited ot dimlNsheO without at ,� �.._,�±.:
<br /> � � teast ten(101 day�'Pdar vrtitten natioe to lendet. F�ch inswance pofn.y aiso sha0 inWude an endotsemeShoutd ttt 9i�ea1 Prop��ty at enll� X � �.t7�
<br /> . ` Len�er w�l nat 6e impaired in arry viay by arry eet.omission Qr detaidi at Trttstot or anyl athsr perso
<br /> Cecame located In en erea desi9nated by the Ofre�or of the Fed�al Emergency►Managemerd Agency as a spedal Aood hn�ard araa.Tn�Or .•`�;y�
<br /> ..: � agrees to obtain and mainffi(n Federal Flood tnswertce Por the(WI unPaid pdncipaf balance of the foan.�A to the mmdmum poE�Y Omfts set _ _
<br /> under the Na4onal Fload Irtsurance Program.cr es otherwise reqt�ed by Lender.and to mai�ain such insurance tor 1ne term af the�aa►►. r
<br /> ` ., .�� Apyltcafion ot OtoaeeGS.TnisWr shaU promptty notify Lend�of acry toss or d a m a ge t o t A e P r o p e r t y. L e a d e r m a y m s k e p ro o f o t t a 5 s B Tn�tar . _
<br /> � fa�s to do so wiWn fifteen(15)daYs of tho rasuatly►. Whedser or nat lende�s se.c�u�yr ts imPaired.Lender may.at Bs elecUon.�eive and refain
<br />` the proceeds of enY insurance and apPty the P����e reductlon of the tndeDtedness�,payment of any Uen affecNng the Propealy.or the -
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<br /> restoiatian and repa�r ot fhe ProPerh►. If Lender etects to apply the praceeds to�estorelion and repatr.Trustor shaA repaU ar replace th� . . :•' ?
<br /> . damaged ar destrayred improvemeMs ln a manner sattstactory to Lendsi'. I.ender shafl.upon satis(adory praot ot such expen�ttue,pay or -:_:j,:.` °�
<br /> • cefmbu�se Tnstnr irom the praceeds for the reasonabte cos!of repah or�estorallon it Tnstor is not in detautt under Ws Oeed of Tnisf. My ".U,;, ,^`
<br /> , � . != praoegd,whfcA hav0 not be6n�i s burse d w i t h in 1 8 0 da y s after their rec8 i pl and whtch LenQer hes not eommitted to the t0patr or reslDratian of : � ,;,.<_ ;_�—�
<br /> • .�- the Property shait be used fist to paY any aawunt owing to Lender under this Oeed of Tnut.then to paY eaxued(r�rest,and the remairtder.H , �-' �
<br /> � arry.shaA be applia d to t h e p r i n c i p a�b a l a n c e o f t h e i n d e b t e d n e s s. M L e n d e r holds an y proceeds after paymer►t in fuU ot ihe IndebteQness.sucfi ` � _N
<br /> � preceeds shaU be patd to TnuMr as Tru,tors intetesls maY BPP� �`-
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<br /> 1ht�ptre�t�ce at ge(e,Arry une�tred tnsurance shall inure to the benefil oL and D�to,the D�r ot the PropeRy ccvered by tt�is �;
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<br /> Oeed ot Tnui at any trustee�s sele or othar sale hefd under the prwlsions of this Oaed ot Tnut,at at any foredosure sa►e of such Prope�ty. � '•�,?-' �, _
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<br /> , .. TAX AND INSURAATCE RESERVES. Sublecl to any�m(tatWns set bY aPDBcable law,Lender may requtte Trustor to mair�in wlih LenAet�esenres - .
<br /> tor payment ot annual texes.essessments,and insurance prerNums,which cesenres shaU Oe cceated by advance paYment or mcnthry psYmenTs of a � �n.;#' �
<br /> �����; sum�timated b y Lender to be sufttetent to produce amounts at(eas!equal to the�.sssessments,and tnsurgnca ptemlums to be peiQ TAe '''� . �':
<br /> reservB funds sha11 be hetd by LenO�r es a generalOePos i t fram T r u s tor,w h i c h L e n d e r m a y s a t l s t�►b y p a y m e n t o f t p a t�e s.e s s a s sme r d s.end • f� s ,_�
<br /> ' insurance Dremiums required to he paitl by Trwtor as they become dus. Lender shali hava the dght to draw upon ihe resenre tunQs to pay suCh _ •�1+'_:�
<br /> � items,and LenQer shall not be required to determine the vdfidity or aauracy of arry item betare paying(t NoWng in the Ceed of Trust sha0 Oe �':�, ��
<br /> ' construed as reQuiring Lender ta advance other monies for sucA purposes.and Lender shatt not incur any QabiUtY tor enYtMn9 h may do ot omit to �;,;,•`',�,��_�
<br /> � ' do witA respect to the resenre account AII amounts in the rasenre accouet are hereby piedged to further secura the lndebtedness,and Lend9r� �:�. e�
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<br /> ` hereby aulhorized to withdraw and appiy such amourds on the lndebtedness upon the occurrence of an Everd ot OeiauH. Lender Shall not be , �. -r=
<br /> required W pay any interest or eamin on tAe reserve tunds uNess required by faw or agreed to by LenQer in HMtln tsnder do�no!hotd Ihe
<br /> H�
<br /> reserve tunds in trust Por Trustor,and i.ender Is nat Trustor's agent tor payment of the taxes and assessmenl5 requfred to ba paid by Trustor. �� ':`��'
<br /> -- �- p(pEImRUAFS 8V I,ElADER. it Trustor faits to comply with any provtsian of this Oeed of Trusf,ar if arry actlon or praceeding is commanced ihat ' "�,:L�
<br /> woutd matedalty aNecl Lendefs fnterests fn the Property.Lender on Trustors behaJf may.but sha0 not be wQutred to,take arry acilorf that Lsnder , ,
<br /> ' deems appropriate. My smouM that Lender e�ends in so Eoing un11 bear interesf at the rate provtded tor in the Note from the date tncurred or pela .;• , ,'; 5:��-
<br /> � - -- b y 4ender to ihe da�e ai repayment by Trustor. AU sucb e�enses,at Lenders option,wiil (a)be payabte on demand. (b)be added to the batanee .,,t .; :;;����
<br /> ' o}ihe Note and be appordoned among and be payabte wfth any h�stallment paymants to become due dtatng e R har {q t he tertn o t a n y r e p p�uebie Sr„�
<br /> i�urance poliCy or (0)thg wmaining tertn ot the NotB,or (c)be Veated as a baitoon payment whicA will be due 8nd paylabte at the Note's mat�uity , ,��'-_
<br /> This Deed of Trust eiso wUf seaua payment of these amounts.The dgfits provided tor in this paraSreph shail be in addiUon to arry other dghts or ecry + .�r.,
<br /> • remedtes to whlch Lender may be enUUed on account of the defaufL Any sucb ec8on by tsnder shatl not be construe0 ss cwin8 tha Oeta�rtt so es to � -,�;;:
<br /> bar lender hom arry remedy that tt otherwlse woNd have had. �>
<br /> . �• � yypqpplJTY;pEFEKSE OF Tl'RE.The tollowing prov(sions retaUng to ownership of ihe Properly are e peA o}this Oeed ot Tntst '�_ '''�,:-�l:
<br /> � ��;. Tttte. Trustor wartants thah (a)Tnutor ho►ds good and maAcetabte OBe of record to the Propedy in fee s(rr�te,tree and cteer o1 all Itens ar�d ' �
<br /> •° encumbrances other than those set forth in the Real Properly desc,�pUon or in any Ulla Insurance poll�y.tiUe repeA.ar flr+al UQe opWan issusd tn ,
<br /> � � tavor ot.and acceDted by,Lender in connectlon with ihis Oeed N Trust.and {b)Trustor has the fu0 Aght,power,8nd aulhodty to execute and
<br /> � . • daliver 1Ns Deed of Trust to Lender. �. � :M
<br /> Oetenae o!Title. Subjed to the exceptlon in the Da►egraPh above,Tnstor wartants 8nd w➢I torever Cetend the UUe to the P�operty agaias�Ihe • • �-
<br /> .. l�.e��der this Deed/Tnu1,Trustor shatl defend the avcHo et Tr9ustors expense. T t tormaY be thA n�ominai Par1y n su�c P����9 bW . .'}'
<br /> ' � • � Lender shell be entiUed to parGciAate In the proceeding and to be represented In tAe ptoceeding by counsel of Lendefa own ehoice.and , ..• ,
<br /> � I Trustor will deliver,or cause to be deltvered,to Lender such inshuments as Lender may request from time to Ume to permtt Such perHctpaBon. • .
<br /> . � Compltanee Wlth Lawa Trustor warrants tAat the Property and Trustats use of the RropeAy comp�le�s wllh all e�dsting applicaDte taws.
<br /> , ordinanCes.and regNatlons of govemmental authodlle9. .
<br /> CONDEMNATION.The following provistons reiating to condemnaUOn proCeedings ere a parl ot this Deed of Trust. • _ . ..
<br /> • . Appilcatlon of Net Proceeda. H atl or any parl ol the Ptoperly is condemned by eminent domain proceedings ar by any ptoceemr�ar . - .
<br /> , purchase In lieu of condemnaGon,tsnder may at Its elecHon requlre thaf atl or any poNon of the net proceeds o!the 8ward be applled to the
<br /> Indebtedness or the repalr or restoraUon ot the PropeAy. The net proceeds o}the award 5hail mean the awar0 after payment of aIl reasonabie
<br /> , cesb,expenses,and attorneys'fees�ncurted by Trustee or Lender in connecHon witn the condemnaUon. •
<br /> PtoCeedings. II any proceeding m condemnallon!s filed,Trustor shatl pramptly notify Lende►1n writt�g,and Trustor she(I prompity teke Such .
<br /> � , steps as may be necec.,sary to defaad the action end obtaln the award. Trustor may be the nominal paAy in such prooeeding,bul Lender shati
<br /> � i CBUSe toebe Ceplive ed tDeLender suCh en5b'ur.'Lnts 8s m8ypbe equested by itrfr�tme 0 Ume O9petmN ueb pettiCipBUon.T�Itslor wfU deliv2r or .
<br /> IPAPOSITION OF TAXES,FEES AND CHARGES BY GOUERNM�iTAL AUTFi0RIT1ES. The following provislons relaUng to governmsntal taxes, �
<br /> � � t2es and charges are a part ot this Deed of Trust -- .
<br /> Curtent Tmces,Fees and Cherges. Upon request by Lender,Trustor shall execute such documenta In addiUon to this Oeetl of Trust and teke
<br /> � . � wl�atever other actlon is requested by lender to peAect and oontlnue Lendefs�len on the Real Property. Trusior shell reimburse Lender for all �
<br /> : .� taxss,as descnbed helow,together w8h 811 expenses Incuned In�ecording,per(ecNng or continuing th19 Deed of Trusf,inciuding without �
<br /> tlmBaUOn ell taxes.tees,documentary stamps,and other charges tor recording or registering this Oeed o1 Trust.
<br /> �� Taxea The toltowing shall constituta faxes to which this sectlon appiies: (a)a s0ecific tex upon th�s type ol 0eed of Trusi or upon a1t or any r
<br /> - � � paA ot the tnEebtednass secured by this Oeed of Trust; (b)a specifls tax on trustor which Trustor is authoriied or reqWred to dedutl Bom x
<br /> � payments on thg Indebtsdness Secured by ihis type ot Deed ot Trus� (C)a tex on this lype o1090d ot Trust CRBfgOabte agelnst thB L8t►Q4�Ot �
<br /> ' the hotder of the Note:and (d)a speciflc tax on ell or any po�ion o}the Indebtedness or on payments ot pdncipal and interest maCe by _
<br /> Trustor. - �
<br /> � Subsequenf Taxe9. If any tex to which this section applies is enacted subsuquent to the date o}this Oeed Of Trust.th19 event sh8ll have fhe ��
<br /> same eNect ss an Event ot Deiaull(as deflned beiow),and 4ender may e�cen9se any or all of its availa619 remedies tar en Event of DefeNt aa j
<br /> • pro�aetl betow uniess Trustor either (ay pays the tax Gefore it becomos Qeiirtqusnt,or (b)contests�he tax as provlded abovQ in the Tex9s and �
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