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<br /> �.�.�.�. . � :
<br /> ' DEED OF TRUST Pag°3 � � •
<br /> a 01-08�-1998 (Contlnued) (�g—�1r1'�u�- —, I
<br /> " Loen No 826309 -
<br /> �� ��� I
<br /> • �of Tru;t. ; {a
<br /> Rlpht To ConUst. Trustor may withhold peyment of any tex,assessment,or C�Im In Connectlon wllh a qood fatth Uispule over Ihe obllya lon
<br /> i
<br /> filtspen�(16)Wya a8er t�heiribn 4�1 oslor!ht a Ilanea f�led,wth npfiflesn/�6)deys aner Trusta haa notlr.eeofuthof fillnppaecure1l or dlschthye of�tl�e � ��'�
<br /> ' Yen, or N reque�ted by Lender, deposll wilh l.ender cash or a sufficlent corporate aurery bond or other securlty snllsfpctory to Lender In en .,,.
<br /> u der the IIMen�.�ln nny conta�st,TrustoPshau delend�selt and Lender and h4 satlsty any adverse Judpmenl beforelenforcemen aqalnststhle ..
<br /> Proporty. Tru�tor shell name Len der as an addltlonal obliq9e under any surety bond furnished In the contest proceedirps.
<br /> . Evld�nCet�,�Y�t�te povernmelntaPofNclal ondeliver to Lende�l anfy t ma w Hsn statamenmof the taxas e d�ass�ssmenbtaqll=t the .-
<br /> euthorim PP oP
<br /> � Property.
<br /> I mat�erlebf a�supplled to tho�Prop�erty,�l�any�mechanb'st Ifien�ma�eda�rt°n's�llen�a oth�r Ilen could be asnserted onsaccount lot th�wak,
<br /> services,or mtterials. Trustor wlll upon request of Lander turnish to Lender advance�ssunncea eallsfactory to Lender that Trusta can�nd wlil
<br /> ' pay the cost of such improvaments. , �'
<br /> ppOPEFiTY DAIYUGE INSURANCE. Tha tollowinp provlslons reladnp to Insudrp tha Property era a part ot lhls Oeed of frust. , ,
<br /> .��,��i�c;
<br /> Malnten�na o i Insur�n c�. T r u s t a a h a l l p r o c u re n n d m a l n t al n pollcles of flre Insunnce wlth'n an a ount s u l A c l e n l�e v a d p�r o n o f e n y _ /?
<br /> replacemen►basls for the tull lnsurable value�overing all Improvement„on the Real Proparly
<br /> coinsurcnce clause,and w8h a standard mortpeyeu clause In tavor of Lender. Trustor shpU also proaure and malntUn comprehenslve yene►al
<br /> Yablllty hsurance In such coverape amounls as Lender may request wtth trustee and Lender belnp named as addltlonal Insureds In such IlabWty
<br /> Insurance poMc�e9• Addltlonally,Trustor shall mafntaln suCh other Insurance,Includlnp but not Ilmlted to haiard,buslness tnterruptlon,8nd � r _
<br /> � boiler Insurance,as Lender msy reasonably require. PoYCles shall be wdNen In form,amounts,coverapes and basls reasonably acceptable to ,
<br /> Londar and Issued by a campany or companles reasonably acceptable to Lender. Trustor,upon request of Lender,wlll dellver to Lender hom
<br /> time to�me the pol�les or certlflcates ot Insurance In form sausfaciory lo Lender,InGUdlnp sGpulatlons�hat coverapes wlll not be cancelled a
<br /> dfminlshed wlthout at least ten(10)days'Pr1or wrttten notice to Lender. Each Insurance pollcy also shaN Include an mdasement provldlnp that
<br /> coverape in favor of Lender wlll not be Impaired In any way by any act,omisslon or default of Trustor or any other person. Should ihe Real
<br /> Properry a1 any tlme become located In an area deslgnated by the Dlreclor of Ihe Federal EmerpencY Manapement Aqerxiy as e Speclal flood
<br /> hoe l Cr N nits set usnder�t�h�Nflt neIBF ood�lnsura1ence Propram,loras dherwlse equlredlby L nder,and�o malntaln s h'/nsur8nce fort he�t�e muof
<br /> the loyan. Lender may make proof of loss If Trustor
<br /> AppIIGtlon of Proceeda. Trustor shell promptly nollfy Lender of any loss or damaye to the Properly. ,
<br /> � �ails to do so withln efteen(16)days of the casualty. Whether or not LendePs securlty Is Impalred,Lender may,at Ils elecllon,recelve and retnln �
<br /> the proceeds of eny Insurance end epply the prxeeds to the reducllon of the Indebtedness,payment of any Ilen eNecl�np the Properly,or the _
<br /> . restoreuon and repelr of the Properly. If Lender elects to apply Ihe proceeds to restoratton and repalr,T f�of of suoh e pe diturY,�pey oe ,•., i,
<br /> damaqed a destroyed Improvements In a manner satlsfaatory to Lender. Lender ShaY,upon satlsfactory p , ,{
<br /> relmburss Trusta trom the prceeeds for the reasonable cost of repafr or restaatlon If Trustor Is not In default under thl3 Oeed of Trust. Any
<br /> he P ope�ly sha beeusea nB!to'payre y a�tul��t�'v�Rp a�On'�U d��h`�dlof 7 ustd.then to pay ccruod Iderest and t er emtander,ff _ ,
<br /> ' any,shall be appNed to the princlpal balance of the Indebtedness. If Lendar holds any proceeds after payment m fuu of ihe Ind6iriud+w�s,SttCh r � 'Ir.
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<br /> proceeds shalt be patd to Trustor as Trustor's Interests may apPear, _ ,, .��•:
<br /> Unexplred Inwnnee�t Sa1e. Any unezplred Insurance shell Inure to the beneflt of,and pess to,lhe purChaser of Ihe Property covered by thla M
<br /> Deed of Trust at any trustee's sale or other sale held under the prodslons of fhls Deed of 7rust,or at any toredosure aak of such Propwiy. ';' ;;�r, ,�•>
<br /> TrustaPs Report on Inwrance. Upon request of Lender,however not more than once a Year,Trusta shall turnlsh to Lender a repat on each � rt�� .
<br /> �clstfrp pd�y of Insurance showlnp: (a)the neme of the insurer; (b)ihe rlsks Insured; (C)the amount of ttw poIICY� (d)the ProP�f'�nsured, l. `,
<br /> the then current replacement value of such property,and the menner ot determlNnq that value;and (e)lhe explrnHon dab of th�pollcy. . :
<br /> Trustor shau,upon request of Lender,have an Independent eppra�ser aatlshctory to Lender determine the cesh vdue replacement cost of the ' �"', �•
<br /> PtOpeily ' ��
<br /> DfPENOITUREB BY LENDER. If Trustor falls to compry wllh any pravlslon of thls Deed of Trust,or If any actlon or proceedlnp Is commencad that , � A_ _
<br /> would materlally aNect Lender's Interests In the Property,Lender on Trustots behalf may,bul shall not be requlred to,take any acllon thnt Lender _.��; �_---
<br /> deems approprlete. Any amounl that Lender expends In so doing wfll bear Inlerest at the rate provldod tor In the Note hom the dete Incurted or pald ;r�,
<br /> by Lender to the date of repayment by TrustOr. AII such expenses,at Lender',optbn,wln (n)be payablo on demand,(b)be added to the balance _-�_
<br /> � of Ihe Note and be apportloned among and be paYable wllh any Insta�rnent payments to become due dudng elther p)the term of any applk,able �
<br /> � insurance policy or (Iq the remalning term of the Note,or (c)be treated as a balloon payment whlch wlll be due and payable at the Note's matudty. �F.;��
<br /> TNS Oeed of Trust also w1ll secure payment of these amounts. The rlphts provlded for In thls paregraph shall be In addNbn to any ottwr rlphts or any .;'n����
<br /> remedles to wh�h Lender may be entlHed on account of the default. Any such actlon by Lender shall not bo construed w curiny the default So ts to _ '__
<br /> bar Lender trom any remedy that It othenvlse would have had. ,.,"�r
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<br /> WARRANTY;DEFEN$E OF TITLE. The followtng proNSlons releting to ownerehlp of ihe Property are a part of thls Deed of Trus. �*y
<br /> Titk. Truslor werrants that: (A)Trustor holds good and marlcetable tltle of reeord to the Properry In tee slmple,4ee and cleitr of alI Ifens and -�,��.,
<br /> � encumbrances other than those sel torth In the Real Proporiy descdptlon or In any tlHe lnsurence polloy,Atle report,cv flnal tlHe opinlon fssued In •-;,;�-,�.:
<br /> favu of, and accepted by,Lender In connectlon with thls Deed of Trust,and (b)Trustor hes the full dpht,power,and fluthority to ex6CUte and ..x-2-
<br /> dellver thls Deed of Trust to Lender. ,, �,
<br /> Oetense of TNIe. SubJecl to the exceplion In the paragraph ebove,Trostor warrants and wlll forever defend the utle to the�roperly egAlnst the �.�;�!
<br /> lawful ctal�s of all persons. In the event any action or prxeeding Is commenced that que5llons Trustor's title or the Interest ot Trustee or
<br /> Lender under thls Deed of Trust.Trustor shflM delend the aCllon at Trustor's expense. Trustor may be the nominal party In suCh proeeedlnp,but -�4i �
<br /> Leeder shell be enNUed to parllclpate In the prxeeding and to be represented In the prxeeding by counsel of Lender's own cholce,and „,i,�,.ti:;,�r;:..
<br /> Trustor wiu dellver,or cause to be dellvered,to Lender such Inslruments as Lender may request from tlme to tlme 10 permlt st�ch pa�tclpatlon. . _
<br /> Compllence Wlth L�ws. Trusta warrants that the Property and Trustors use of the ProperlY complles wlth aIl exlstlnp appl�able lavr3. •
<br /> ordlnflnces,and repulatlons ot governmental authorltles.
<br /> CONDEMNATION. The following provlslons relating to condemnatlon proceedings are a parl ot thls Doed ot Trust.
<br /> Appllcatlon ot Net Proceeda. If aIl or any part of the Properly Is condemned by eminent domaln proceed(rps or by any proCeeWnp or
<br /> Indebtedness or the epak oe�estore oneot the Property.tThe ne�lp�aceetdslof the awar'd shalltmeantthe a w d alleh payment of alplpeasonable
<br /> costs,expenses,and attorneys'fees Incurced by Trustee or Lender In connecllon wlth Ihe condemnatlon.
<br /> Prucee�lnps. It any prxeeding In condemnatlon Is filed,Trustor shall promptly notly Lender In wrlting,and Trustor Shall promplly take such
<br /> steps as may be�ecessery to de(end lhe acllon and obtaln the ewa�'d. Trustor may be lhe nominal pnrty In suCh prxeeding,but Lender shelt
<br /> be entttled to parUClpate In the proceeding end to be represented in Ihe proCeeding by counsel ot Its own chdce,and Truslor wlll deNver or I
<br /> cause to be deNvered to Londer such Inslrumonts as may be requested by It from time to tlme lo pe�mlt such narticipalfon. �
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<br /> ....�..ru .�rruno�T�FC Thn tollowma provisfons relating to govemmentall8xes. I
<br /> IMPOSITIQN OF TAXES.FEES ANO(:Mnrtuta o� �av�.,:..��....�•�..- �-•••-•-•• --
<br /> fees and Charges are a pa�t of 1hls Deed ot Trust:
<br /> Cutrent Texes,Fees end Charges. Upon request by Lender,Trusto�Shall execute such documenls In e Td ts ar'Shatl relmbu�58 Lenderfor&Iel
<br /> whelever other aclion i3 requested by Lender to perlect and contmue Lenders Ilen on lhe Reai Prope�iy
<br /> taxes, as descnbed below, togelher with all experses incurred in recording, perfecbnp or Continuing Ihls Doed o�Trust, including wlthout ,
<br /> Ilmdallon ell texes,�eos.doCUmentary stamps,nnd olher charges�or recording or regfster�ng thls Deed of Trust.
<br /> Texes. 7he tollow�ng shall Co�sl�tute taxes 10 which Ihis sec��on applies: (a)a spec�fic tax upon thls type o} Deod of Tr�st or upan all or any
<br /> part of tne Indebtedness secwed by Ihls Oeed of Trust: (b)a spec�f�c tax on Trustor whfCh Trustor 1s aulhorized a required to deducl from
<br /> p8ymenls on Ihe Indebtedness secured by Ihfs tYpe of Oeed of 7rus1; (c)a tax on this type ot Deed of TruSt chergeeble agalnsl the Lender or
<br /> the ho�der ot Ihe Note:and (dl e specitic latt on a�l or eny pation of the�ndebledness o�on paymenls of p�nclpal end Interesl m8de by
<br /> Truslor.
<br /> ��meeeHcct as en Evenl oF Oefaultwus del od b'e�owlpan�dSLenderCmaysebe CQe any ohHlldof1eils uve1dgbe remedies'foh�an Event otlOeaaull1as
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