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<br /> � ' DEED OF TRUST Pege 3
<br /> • 01-30-1998 (Continued) 9�-��i�,121 �_. -
<br /> ' • Lo�n No 648808 .
<br /> ' 8uthonle Ihe appropr�ate povernmental offfiolal lo delfver to Lender at any time a written s�etement Of the taxes end a6sessment8$p�tlnst ihe , —
<br /> Property• . �
<br /> Notice of Cortsiructlon. Trustar shall notify Lender at leasl 8ft6en(t5)d8ys belore uny work Is commenced,any serviees are furnlshed,or any
<br /> meterfals are supplied to thA Property, if any mechanic's Ilen, materlalmen's Ilen,or other lien couid be asserted on eaCOUnt of the wak, w
<br /> services,a ma�eriais. Trustor Knli upon request of LenAer turnish to Lender advance assurances satisfactory t0 Lender that Trustor c8n�nd w�ll
<br /> pay the cosl of such�mprovements. " _
<br /> PROPERTY DAMAOE INSURANCB. The lollowlny provlslons rel4tlnp to Insurinq the Property are u part of Ih�s Oeed of Trust.
<br /> M�Int�n�o���Wnncr. Trusta shali procuro and rru�lntaln pol�les of Bro InsuranCa W��hln an a ount suHiclent to avold applica�of any '
<br /> j replac�mml basls lor Iho lull lruurabie vnluo Caverinq sll Improvements on the Real Ptoporty
<br /> �1 cdnsuranc�ckuae,tnd wllh a standard mortyapee aiause In favor ot Lender,topether wiih such other hazard and Ilabillly Insurance as Londer ,} ^
<br /> � may rsnsonabty requke. Policles shall bs wrltten In fam,amounts,coven9es and buls reasonably acceptable to Lender and Issued by a '�' _.
<br /> company a companles reosonably acceptable to Lender. Trusta,upon request of Londar,will deliver to Lender hom llme to time Yne policbs
<br /> i pr eertlNcates of InsurtnCY In fcrm satisiactory to Lendor,Includinq stlpulntlons 1he1 coverapes will not be cancelled a diminlshed wllhaut at �,.-4i.�:
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<br /> ieast ten(10) d4Ys'Pdor written nol�e to Lender. Each Insurance pdby also shall Include an endorsement proNdiny thtt cowraye in favor ot l w ..:'-"
<br /> i Lender wJl not bo Impairad In any way by any act,omisslon or default of 7rustor a any other person. Should the Reol Property at tny dme
<br /> I become located In an area des�flnated by the Dlrector of the Fedaral Hmeryenoy Manapement Aqency as a specia�tlood hesard arae,Trustor _
<br /> desy -
<br /> under�the Nadonai Flood Insu ance Prapramtlor asrothervvlse quUed by Lender,�a dto'malnla ntsuch nsurance foe ho term otP e�oe�its set _
<br /> Applkation of PfoCHds• Trustor shall promptiy notity Lender of any Ioss or damaps to the Prope�ty. Lender may make proof of lossNTruslor �_
<br /> f�AS to doso wilhtn flM�an(1b)days of the'�uall��Wh=�t1 he t��t on�tha I�nudebtedn�ess,P Yment of any�llenl af(ecdnp t�ProperN� or 1he ;r--
<br /> restorsQa�i andf epalr ef�he P operlpjrP ylf Lender elects to apply the proceeds to restuatton nnd repalr,Trustor shaA repalr or reqece lhe _
<br /> r�ej buerse Truslortrhom the prxeeds for h�ea on btle cost of�epalydorrrestoraHon ff Trustor ts not�ntdef ault under th s D�d oftTrustp.BAny ?r
<br /> prxeeds wh�h have no t been d i s b u r s e d w i t h i n 1 8 0 d a y s a ft er Ihelr recel pt and wt�ich Lender has not committed io the repak or reslaation of .���_,
<br /> the Propeily sha�Iled t St e p�c�Pal belance of the ndebtedness.r��Lendehl hold anY P�oceeds aftePpay eM in fu lao�f the In ddebtedness.suC�h '�L�
<br /> , any,shaY be app _
<br /> prxeeds shall be pald to Trustor as Trustor's interests may appear• ,:j.,
<br /> D ed of Trust si any t�rustee'sesa e�or othe�sa e�hetd under the�provis onseof thlsfiDeed otlYrust or a a^y foreclosure�saia ofpsu�ch pro�p�rly.y ihls
<br /> �' . EXPENDItURES BY LENDER. If Trustor fails to comply with eny provislon of ihis Deed of Trust,or It any action or proceedlnp Is commencsd that
<br /> � would materlaNy eflect Lenders inlerests in th�e Properly,Lender on Trustor's behalf may,but shall not be required to,take any ection that Lender �
<br /> doems appropriate. Any emount that Lender expends in so doing wiil bear Interest at t�I18(a)p e payable ontdemandfr(b)be 8dded o the balance . ��;
<br /> by Lender to Ihe date ot repeymenl by Trustor. All such expenses,al Lenders optlon, , ,�'
<br /> :I ot the Note and be apport�oned amonp and be payable with any Instaliment payments to become due during elther (i)the term ot sny�ppiirable _ �
<br /> ,I Insurance poNCy or (fl)the remalnlnp term of the Note,or (c)be treated as e baiioon payment whlch wlll be due and payabie at the Note's maturity. ,':t ` w
<br /> Thls Oeed of Trust also will secure payment of these amounts. The riphts provided for In this paragraph shail be In addlGon to any other riqhts a any ,- *�
<br /> _ �I ',ifi�
<br /> remadies to wldch Lender may be entltled on acCOUnt of the default. Any such actlon by Lender shau not be construed as curinp the defaNt so es to �`': ;��_
<br /> - G6r L&rsd8r Srcm an;semedY�►u+t It otherwise would have h8d. _,�f'•_'_ ;d�".�
<br /> VyARRANTY;DiEFENSH OF TITLE. The toilowtnp provisions relatinp to ownerahip of the Property are a part ot trns ueed of 1'rusi. �� .
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<br /> Title. Trustor warrants that: (a)Trustor holds good and marketable tltle of record to the Property In fee simple,hee and cleer of el liens and ,r: �L._
<br /> enCUmbrnnces other than those set forth In the Real Property desCriptlon or in any title fnsuranCe pol�y,title reporl,or flnai dtla opinfon Issued�n ,
<br /> favor of,and acCeP�ed by,Lender In Connectlon with thls Deed of Trust,and (b)Trustw has the fuA�Ipht,powor,and authority to execute and ��y �t .
<br /> deliver IMs Deed of Trust to Lender. �`;�
<br /> peftnstof Tltle. SubJeCn�to�h�ethe evtsnt any aeMon orproceedlnp fsscommenced th�t q�ues8ons Trusta's�tbit�a 1he8ntK t of Trust�s or �.
<br /> ' Iawfui cWms o}au pera
<br /> Lender under this Deed of Trust,Truator shall dsfend the aetlon at Trustora expense. Trustw may be the nomtnal party In auch procNdirp,but i "
<br /> Lender ehall be enHded to paAkipate In the prxeedlny and to be represenled In the proceedinq by counsel of Lendera own ehobe,and . __
<br /> 7rWtor wili deliver,or cause to be delivered,to Lender such Instruments as Lender may request from time to flme to permit suCh partl/dpadon. �v� �
<br /> Cpmplllnce With Law�. Trustor warrants that the Property and Trustors use of the Property complles with all existinp apptiable laws, -
<br /> ordinanees,and repufatlons of governmental authodties. .�:�
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<br /> � CONDEMNATION. The toilowinp provislons relating to condemnation prxeedlnps are a part of thls Deed of Trust. `�1_� �
<br /> " ApplicNbn of Net Proceeds. If ail or any part of the Property Is condemned by eminent domain proceedtnfls or by tny proaadirp a �___,_,-__ -
<br /> purchase fn Ileu of condemnatlon,Lender maY e���S���tThe net Iprxseds ot the awa�rd shall�meao t e a etld efte paymen of aY�roasonnble �-�`--�
<br /> indebtedness or the repair ar restoration of the Prope�ty ;'t�i�F.`-•.
<br /> costs,exPenses,and ariorneys'fees fncurred by Trustee or Lender In connecUon with tho condemnetion. �;�e.; R
<br /> i:.F`-Rr��
<br /> Proceed�np�. If any proceedmg fn condemnafion Is flled.Trustor sha��promptiy notify Lender In writing,and Truator shali prompdy tak�suah ����, ==
<br /> • k steps as may be necessary to defend the aCtlon and obtaln the award. 1'rustor may be the nominal parly In such proCeedtny,but lender shali _. __..s�_
<br /> � be entiued to part�c�pate In the proceeding and to be represented In the proceedmg by counsel Of Its own Cho�s,end Trustor v�dellver u �!_'`y-__— ,v
<br />- �� cause to be dellvered to Lender such instruments as may be requested by It Bom time to Ume lo permlt such perticipatlon. .} + � �_
<br /> � � IMPOS1710N OF TAXES, FEES AND CHARGES 8Y GOVERNMENTAL AUTHOR171E3. The foAOwlnp provlslons relatirp to Qovernmentel taxes. : ��,;....�
<br /> � tees and cherpes are a Part of th�s Deed of Trust: ��'�.. , ,��+.
<br /> jCurront Taxes,Fees end Charpea. Upon request by lender,Trustor shall executo such dpcuments In addltlon to tMs Oeed of 7rust and take .�.;„�.',� �'
<br /> ; whatever other aclion Is requested by Lender to perteCt and contlnue Lender's Ilen on the Reai PropeAy, Trustor shaA retmburse lender for all
<br /> - � texes,es desc�tbed below,together with ali expenses incurted In recording, ps�fec�ing a contlnuing thls Oeed of Trust,Includng withoul
<br /> i � limltatlon all texes,fees,documentary stamps,and other charges for recording or replslering ihis Deed of Trust.
<br /> TaxEb, The tollOwing sha�l Constitute taxes to which this sectlon epplies: (a)a Spec�hC tax upon this type Of Deed of Trust or upon all or any
<br /> part d Ihe Indebledness securod by thfs Deed of 7rus1: (b)a Spec���c tax on Trustor which Truslor is authonzed or required to deduct from
<br /> pflymeMs on the Indebledness seCUred by ihis type of Deed ot Trusl: (C)a tax on this lype of Deed of Trust chargeflble against the Lentlor or
<br /> z the hdder of the Note;and (d)a speciflc tax on all or any portlon of the Indebtedness or on payments of principal and Interest made by
<br /> ° Trusta.
<br />� Subsequent Texea. If any tax to wh�h thfs sectton epplies is enacted subsequent to the data of this Deed of Trust,this event Bhali have the
<br /> prov d d t owgun ess Trus oe elthera(a)pays the Itax bef0 e lebeCOmes del nrquent or�(b)Contests the tax as provlded above en the Taxes'a d
<br /> Llons section and deposlts v�llh Lender cash or a suHiclent corporate surety bond or olher seCUrity satistactory to Lender.
<br /> SECURiTY AC3REEMENT;FINAHCINd STA7�MENTS. The fol�owing provislons relatfng to this Deed of Trust as u seCUdty agreemenlare a part o� I
<br />- Ihis Deed O�Trusl.
<br /> __...��. ....�.,�,...t rtus mstrumenl shall constitule a 52cunty agreement to the extenl�any^f th�P^operty C�OactlAmantl d h m tlmehto . .
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<br /> personai p�operry. and Lender sh811 have all o(the nghis 0�a secureo pn�iy u���o� •••-•-•- ------ - ;
<br />- time.
<br /> Security Interest. Upon request by Lender,T�ustor shall execute ifnancing slatements and lahe wnatever other acllon Is requested by Lende�
<br /> lo pedec�and cont�nue lender's security interest in the Rents end Personal Property. �n addillo�to recording this Deed of Trust in ihe real
<br />_ prope�y reCOrtls,Lendor may,at any Ume and wilhoul fuAher 6ulhoriZatlOn from TruSlOr,flle exeCUted counlerpflrts,COples or rep�odUCtlo�s of
<br /> Ih�s Deed ot Trust as a f��ancing stalemenl. 7ruslor shall relmburse Lentlor for ell expenses InCUrred In perfeeting or continuinp Ihfs e�curlty
<br /> �nteresl. Upon defaull,Trusto�shall assemble lhe Personal Property�n a manner and at e place reasonably convenfent to Trusta and Lender
<br />� and mak.e d avadable lo Lender wdhin three(3)days aHer reCeipl of wniten demend trom Lender.
<br />_ A gd1ess0y�h s Deede1ot TruS dmay be ob eined(9ach'es,�equired by Ihes Un fotl Comme�c I Code)nare a&stated onthe tirst page of thfs Qeed
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