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<br /> . , . � DEED OF YFiIlSY Q Page 3 . . _ .
<br /> . , � ; 61-08-1998 Q � � - .
<br /> ° Loan No 6263t�9 (CoMlnue�) �+V— �$i����
<br /> � ' cf enY tex.esss�.sment,or dalm in connectlon wrf1A a Sood fatth d�ute over th�oE�gation " ,. . .
<br /> . Rt�1 To� �n�stor maY�atd P8Y�1 - • � ,� :
<br /> ' to VaY.so taa8 a8 Lendefs i�terest In the Prapa�N�not jeapardaod. If a tien a�ises cr is Wed as a r�8t of nonDaYm.��.Tn�tor she9 wHN� �,'4
<br /> 6fteen(15)daYS after the Gen arises or,ii e GBa Is fded.wdhtn fifteen(15j daYs e�er TnKtor hes noUce ol tAe fi0ng.sec�ue the Q�s�a�BB a� , .
<br /> , � ; flen,a A requested by Lender.de00.s�t with Lender cesh or a suR9dent corparate surehthat eoutd aaxue�u��aredosure sa�9 � ..
<br /> � ! amouat sutfutieM to d�schaBs tl}e Gen pws anY cos�and attomeYs'tees or otRar cnerges ` . . •
<br /> unGer tha Gen. In etryr contest.Trusfot shau detend�tse11 and Lentler and sheit satisN e�Y a�IudSmeTA be�B er�oreemeni e9ainst the
<br /> , ' •� ProDeA11.7nstar ShaD nam8 LBnQer e5 en 8ddi6ana�ob6ge0 under aaY SuretY bond fumished in the co�est Proceedng9. , . ,�° ,
<br /> Trustor StisD aDon d+emart0 Nr�sN to Lender s8�sfactory evider�Ce of payme�of the ta�es ar assessments 8n0 SheU �ti � , �,
<br /> ` .. j Evid�nDO o!Paymscrt. `, F ' .
<br /> i aulharlm 1ha eOD�A�So��^�o�to depver to Lender at any Ume a written s0atemerrt of lne taw�end essessme�agai�1�e
<br /> . T� ��' �
<br /> - -_ - -- l'�l2s�o!C�fslntetion.T�stnr sha0 notidy Lender at teast���materiet�m�er�'68�Gen.ory�+sr C$i+�d�asserl�aaou��oivark. ;�.�.
<br /> � , , � meteri8ls ere St�AQed to the PtapeRY.u anv med�an�s n. ' � .
<br /> ssMea9,ar ma�eriaEt. Tn�slor wU upon wq�est o!LeMm turNsh tn Leedar asvanoe as�uanoes saSsfaetnrY to Lender ihat Tn�stor can and wU � �
<br /> ' � Pa1/tlse eost ot ste�+lmproveme�d9. . , .. .
<br /> ��
<br /> PROPSiTY OABRAGE ti�11SlSiAI�iCE The toltowir�g prov�ions relatU►9 to insunc�9 tAe ProFert�l are e peit of tALg Deed otTrwl. endasemeMs on e � � . .
<br /> < � 8R t8 ` . ,� ,
<br /> �of tts�tarence.Tnbtor sh80 ProCUCa and m8t+s�in P�d�o!fae instu8noe wi�+standard mdendad Cove�a8e
<br />- . reptecemerd EaSis ta tl�e tuD insurabte vafua�n9���lo tavo of�Lendm. Tnato s�eko P��ar+d rt�ai9�ein comp�hensive general �.'.�,; .�.,• ' �
<br /> .� coh�urence etause.and wfth a standerd morl9a8+se cta�se .
<br /> , ` UabIDtY i�urance tn st[c�covena8e amoucds ss Lender may cequest wIU�trustee and Lender bein9 nemed as addUonat insweds In such UabiGtY , ._.
<br /> . � insurance P�.cdes. AdQdionaBY.Tnistar sAaU matrdsln such otri�insurance.tnciudin9 Duf not Qmiled ta ha�rd�btuirtess intertuD9on.and
<br /> � boQ�inwrance�as Lender maY reaso�ebtY ce0.utae. Pof�tes sha9 be wrftten in fortn.amou�s.covare9es and basis reasonaDN e�DfebEe to �" =.�
<br /> Lendss and issued by e compaay ot comRen�es reasanabty ecoaPte6le to Lender. Tnatar.uDon re9uest ot Lertder.wIU deiivar to l.ef►Cer from ..:-��;,
<br /> • � � . . •� time te time the po6des or cer6ficates of insurenee in form satisfactory to Lender.fndudin8 stiPu�atlons thal o°vera��not De canoelted or ". ,
<br /> . •.� dimirrished vri;hout at least ten(10)Qays'Gdm wrRten notice to lsndar. Eaeh ins�u8nce DeG�Y elso ShaO[rtelude 8n endarsemenl providing thsl ' .�``._
<br /> eoveraga in favor of Lender will nol be Impaind in any way by eny ect.omfssion or QetaWt of T�tutor�enY m� p������flood �
<br /> �ut
<br /> : properly at aay time became Iocated in en a�ea desl&r.�a3 Dy the Ohectar ot ths Federel Emergen�yal balance otlhe IOan.uA to the me�dmum :;, .,. .. .h.;�x;`•
<br /> � r ha7acd area.Tnutor sgreas to obmin and malnmin Fedaral Flood Insurance tor irie tuU unpald prtncip -r `
<br /> ' `t poUell Gmiis se1 undsr the NaBonat Flood insu�anoe Rrogrem.or as othervvise requhed by Lender.and to malrtta[n such insuranca tor the t�m of
<br /> r. ��� tAeloBn. , .�,.�*r``u.
<br /> .;� . � . . , Lendermaymakeproofoftass�7rustor ._ <. =�'-��-
<br /> �, 'i Ap�ficallon o1 Poroceetla Trustor sha(i prompGy notity Lender of any tass or damage ta the ProDeAy - --- . ,�: r--
<br /> ,' { fa�to do so withln fdteen(15)days of the casuattY•Whethet or not Lenders sacuAlY is imyahed,Lender may.at its efec6on.ree�ive e�a re�n �`'•f..
<br /> �.�"-
<br /> . , �..� the Proaeeds oi any insurance and eDPNI Lender etects to eGP�e Proceeds to restd oratlon andereP��ru�ior Sha11�reA�teD�e N : �' ,�:�; —
<br /> restoratlon and repair of the PropeRy. I :� r��
<br /> � � �
<br /> � '. � damaggd or destroysd►mpravemenis in a menner sa55faetory to Lendet. Lender shall,upon sallsfactarN Droot of such expendihue.paY� . �'; . � ,
<br /> retmpu�e Tn�tor trom the praceeds ta tt�e rPasanabte cost af repatr or wstoraVon if Trustar is�ot in default under thls Oeed of Tnist. AnY °�,�•..:;����
<br /> .: :._a< ��_.::
<br /> - . p�oceeds whioh have nat been dabutsed wtUtln 180 days eftar melr recetpt and wflich tenJer has nat committed to Me repatr or�sta�O"°t C.�, ,-- .
<br /> � ' the Properh shaU be used fnst to pay enY amount awing to Le:.�under this Oeed of Tnbt,then to pay acaued Interen.a�d the rematnder.it - •_ ;':.-�J��.,''�s��
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<br /> any�Shall 0a appified to the priaeipal batan�cf the Indebtednass. If Lender hotds enY procse0s aftor payment in full at ihe Indebtedn�.such .r :��;:;,
<br /> • . � "�:; �..,�
<br /> ' prucesds shall be patd to Trustor as Tntttot's interesb may appear• <..s� '
<br /> ' ttnexpir�i�ee at Sate- AnY�rtmr0�d inswance sdall Inure to the bensfrl ot,and 0�to.the purchaser ot the ProDeRY���d by tNs ' t. �,���F`.
<br /> Oeed ol Tnist at arty bustee's sate or otAer sele heid under the prov�lons of this OeeO of 7nat,or at anY fore�asure sete ot such PrapeAY• � ..�,;.Y�. .
<br /> . . ,t.,��
<br /> � Tntstor'e iteqpr4 on insurimcs.UDen re4uest of tsnQer.howsver not more than onoe a yrear.Tnistor shaU tnm5h to Lender a reporl o��eac?s :�'.
<br /> ��paR�y p}���n�e shawing: (e)the name ot tha in4u[er, (b)the risks insured; (c)the 8mount ot the poQcy: (d)the proper1y .�,• S, _,: ;,.
<br /> � the then c�ure�reDtacemeni vaiva ot weh DroPerh►.and the manner ot deterMNng thaf vatue;and (e)the expUatlon dai�of lhe poucy- ,. `I; :r. �.�,�_.:
<br /> ..�r;,��;;:,- .::---`�:
<br /> � TnutCr sha0.upon request of LenQer,hava en independent epA�a�ser sa�fac�ory to Lender detenNne the cash vatue ceA��'���of U►a �.,
<br /> . h8 • .�.,.:
<br /> � •- ProPe�Y• ' �''• ' �.. .�Ia,-
<br /> ' �](pp�piTUqES BY LEPIOER. N Trustor fe0s to compty wJth any provislon of thls Deed of Tn�a1,or if eny aedon or pr���on thal L�.end� ����'�
<br /> � ' wo�dd materiatty aftecl�enQers interesis�^�he P'°VBM'�nQer on Tnistojs bahatf may,bul sheil not be requlred to, . ;:,;=�`...
<br /> � daems appropriate.My amount that tsnder e�ends in so doing wiU bear interest at the rate OroNded tor In the Note irom tha Qate ineurted ai paid • .;;. ;��r�T--
<br /> by Lendor to the date of repayment by Trustor. An such e�enses.at Lenders opUon,w�1 (a)be payab�e on demand, (b)be BQded 4a the bafanca _ .. ��,-=`
<br /> � of tne Note and be appoNOned among anp be paya��e w8h any lnstaUment payments to become due during efther p)the tem ot QnY eDDQ�re �' , �,�;,�4;.
<br /> ' insuranc9 policy or pi)the remalNng term ot ihe Note.or (c)be treated as a baltoan peyment which wlll be due and Dayabte at the S�tat9's mafu►HY• • i:���, .
<br /> ' � Thls Desd of Trust e�o wlll secure PafimeM ot these amounts. 7tie dghts�rovlQed for In ihis peragraDh she116s in addtton to enyr othBt rfgtds or any :��:
<br /> remedies to whtct�Lender may be entitle0 on aceount of the defaNt. Any such aclion by Lender st�all nol be canstrued as cuttng tt�9 deiatAt so es b
<br /> � i."wiia�
<br /> " bar lsnder hom arry remedy tAa1 it athervvlse wo�dd have had. '. �i°R'
<br /> .- . " -,c.'_r1F'�.
<br /> ' Wqh�LiANTY;OEFE�fSE OF T17LE.T�e touowtny proNsions relsUng to ownershlp o1 tha Properly are a D�01 this IIeed of Tnist. �_._..
<br /> ,.'` 1(qe, Trustor wartanis that (a)Trustor hotds good and meAcetabie 6Ue of record to the PropeAy tn tee simpte,he0 end cle9t o1911110�Bnd � , ` ,
<br /> encumbrances other lhan those set toAh 1�tne Real Propedy descriDUon or in any tl4e insuranca Doltcy,UUe repoA,ar flnal tlUa opiNan Isaued in •';�l��i�7, � ; `.:�t.�
<br /> � ' t a v or of,and axe pted by,Lender in connec6on wilh this Oeed of Trus�and (b)Trustor Aas ttua iW dght,power,end 8utharity to execute end
<br /> � � deliver this Oeed o1 TruSt to Lender. � � �
<br /> ' Oetense of TIt19. rubject to the exceDtion In the Da►a9rePh above,Trustor warrants and wiU forever 48ten0 th8liUe to the Propertyr e88t�511he . .
<br /> ' Iawful clalms o1 all persans. In 1he eve�t any action ot proceeding is commenCed that questians Trustors tiU0 or the interast of TNSte9 or
<br /> tsnder under this Oeed of trust,Trustor shell detend the action a1 Trustor's e�ense. Trustot may be the rrominal perty in suct�Proceeding,Cul : ..
<br /> Lender 5h8t1 be entlUed to particiPate in the p�cceeding and to be representad In ihe praceeding by counsei of Lenders own choice,and
<br /> Trusto►will de ver,or cause to be deiivered,t0 Lendet suCh instruments es L.Bndel may requ6st from time t0 Ume fo p0tmit suCh paNc�patlOn.
<br /> �'.'` � ��nceg e ai regulaUong o g'ernmental attthodUes.0pe�end Trustors use ot t�e ProPehY�mpiies wllh ell e�dsting tipPttcabte toa�s. , . . .
<br /> o .
<br /> ' p�7�IpE1ANATlON.Tha foltowing DroNstons relatln9 to condemnation proceedings are e part of thts Deed o!7rust. .
<br /> , • �u ehese�in�u o1 cond me aUonf Lende rmyay at its�e eclion�requlre that ell ornarty poNon of the ei prpooee49 otghe awerd be applied to the �
<br /> n
<br /> mdebtedness or the repeir or restoraUOn o11ha Properly. The net praceeds of Me award shalf inean the award after peymonl ot all reasonabte �
<br /> cpst9,exper�ses.an0 attomeys fe�incutred by Truste9 or LenQer In connOCUan wRh the eondemnaUon. .
<br /> - pr���paq, �t 8�y prpoeeaing i�condemnation is filed,Trustor shail prompUy noUty LenQor�n wdUng,a�S T�ptor�d�9r bW�Le der ShaU
<br /> ' stepg es may bo necessery to detend th0 acdon and obtain the award. Trustor may be ihe nominal party
<br /> be enlitled to paNcipate in the proceeding end to be represented In the proceeding by counsel ol itg own cholce.and Trustor will dellver w
<br /> cause to Oe Qettvered to Lender such Inshumenb es may be requestea by it trom tlme to tlme to permit such parllclpaUon.
<br /> IMPdSIT10N OF TAXES,FEES AN�CHARGES 9Y GOYEAf�MENTAL AUTHORITtE3. The toltowing provislons retaUng to governmental tazes.
<br /> `.� tees end charges ara a Pert o�thls Deed of Trusl: . • �:
<br /> Current Ttucea,Feee end Char({Ba. Upon request by Lender,Trustor shell execule suCn documents in eddiUOn to thls Oeea of Trust and f8ke .
<br /> whatever otAer acUOn i9 requested Cy Lentle�to peAect and conlinue Lend3Ps 88n on the R881 Property. Truslor shell relmburse Lender fot t�
<br /> tanes,8s desCribed betow, together with all expen5es InCUrred in tBCOrQ�ng,peAecUng m Contlnuing this DeeO o1 Trust,InCluding without .
<br /> limitation Fill 18xes,fi3es.doCUmentBry stamps.and other charge9 for reCOrding or r8gistering Ihis 08ed of Trust. .
<br /> :_,.;�, Ta�cea. The foltowtng snall conshtute laxes to which this section eppties: (a)a spodflc tax uDan tnis ype of 0eed o1 Trusl ar upon ell or any r
<br /> paA of the Indebtedness secured by Ihis Ooed of Trust: (b)a SOedflc tex on Trustar whlch Trustor Is euthorized or requlred to deducl from
<br /> payments on the InEebtedness seeured by tnis type of Oeed o1 Trusl: (c)e tax on this type of Oeed of Trust chargeabte against th0 Lender a
<br /> • the holder of the Note;and (d)a specitic tax on all or any poAion ot the tndebtednass or on payments of prineip�l8nd intsrest mada by
<br /> � , Trustor. '
<br /> Subsequent Tmce9. If any tax to wnich tnis section epplies i9 enectetl subsaquent to t�e date ot lhts Deed of T�tut,ttu9 event SheU h3ve tho �
<br /> ' same effeClBS an EveM of Oetautl(as deBned betow),and Lender mey exercise eny or sll of�t5 avaitabte remedles tor an Event Ot�etaNt 89 '
<br /> - provide�i bbtow unssss Ttvstct e�sho� (g�pgy5 tAP fax betOre it becOm85 d8linque�t,ot (b)Contesis Iha tax e9 provlded 8bove�n the Taxes 8n0 i - —
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