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<br /> • -. I 02-2f�1998 DEEI� �F TRl1ST Page 3 , -
<br /> � . � ` ,�j l�an Pto 662'lZ6 (CaMlnued) '• 9�'— �ri�'��'� ° � .
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<br /> � to pay,so tcng as Lender's interest in the Properiy is not jeopardmad if a Gen aRSes or is fifed as a resWt of nonpayment,Tnstor shaA within t. � • '
<br /> _ � 4 fiftgsn(15)days after th9 6en 8risas ar.if a Qen is fited,witNn fifreen(1�dayS 9Rer Trustar Ass notiee of the ftling,See�re the disCherge o!U�8 ` �
<br /> ' tien,or if tequected by Lender. deposit with Lender cash or a sutficient onrporate suraty bond or other security�ory to Lender in an
<br /> �� � � j amourn sufftdent to d's�chazge tAe Isn pius any cost�end sttomeys tees or other eharges that ca�d scxaue as a restdt o!a foredos�ue or sate � ,,
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<br /> ' ` '..? undet the f�en. in arry contesi,Trustor st�eU de€end its�t and Lender and sheil satistyt 8ny 8dverse jadgment 6efare ertfareement agalnst the
<br /> � s Property.Tnistor shaU name Lender as an addtional ob6gee under arry surety bond turNShed in the cor�pst procesd'ings• � ' , .
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<br />-`� ' , � :vi0enpp p4 p&yment. Trustor shsU upon demantl furrdsA to Lender sattstactory evidence o!payment ot the taxes or ess�smetds end shaA ' K � .
<br /> �.-' autharize the approprisle gavemmeMal of6dat to ds6vet to Lender at arry Ume a wrftten s�temerd of the texes and a�mer�aga[nst the ' . �`'.
<br /> � . �p�Y ,v
<br /> . , tSOUee Ot Co�zti0n.Tittstor 5ha1F notify Lertder at Iees!fiftean(15)days 6efore any woAc is commenced,6nyt sarvioas are flQn�shed.or arry .
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<br /> - " � � . materfets are suppQed to trte Property,H any mect►aNC's Uen, materiatmar�s Gen, or other Itan coutd be asserted on aceoun!ai tha wortc. � _. , �
<br /> . �.'�� � servic�,or materlats. Tn�tor w71 upon reqnest of Lender tumish t0 Lender advance assurances satafactory to Lender that Trustor can and wID �. _•---
<br /> pay the C�t ot SuCh improvemer�s.
<br /> -� P3tOPHi7'Y DANIAGE INSURMiCH. The tollowing provisions retating to insurtng the Rruperly are a part of this Oeed of TnLSf. -,--.: .. �
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<br /> Nlalrf4enEnCe of hfsu�te. Tnutor shaU pracure and mairAair►poGd�of fire insurence vvith sfendard mdended coverage endorsements on a �
<br /> ` , reylaCemerd basis for the tuU Irtsurable velue covering a7 lmprtsvements on the R881 PrcAertY in en amourd su(BcieM to 9votd eADih�tton of enY . , :,�.�.:;
<br /> '. . coinstuance dause.and with a stendard moRgag�dause M favor af Lender. Trustor shaU atso proceue and ma.intain compr8heruive gerteial -
<br /> :� � Uabitity insuranoe in sucA coti�erage emour�s as Lender may reqtt�f with truste9 and Lendet being named es additional htstueds in sw;h BaD�ty � :-
<br /> ` -s, insuranee pofides. AddNOna¢y.Tnatar shaD mainTaln such other ir�tuance.tnduding but nct GmRed to hazard.businass intertuptlon,and '� ,r , �
<br /> na ,:�,. r
<br /> .-.r. � boder tnsurance.as Lender may reasonabty requUe. Patides Shali be writ�en in torm.amourds.covefages and basis ressona�ry axeptable to , �'F`
<br /> l,ender and Issusd by a camparry or campanies reasonably aoceptab►s W Lend� Tngtor.upon request o t l ert d e r,w�l d e U v e r t o l en s l s r i rom ��� < .� .
<br /> ,' . , time to Hme the poQCles ar certtfit�►Ees of t�urance in form sab�sfactory to lender.iru�umng sUputaSons that cmreragss wm not be r�nce�ed ar ` ''� �r
<br /> � � dimiNshed w3thout at(east ten(10)days prfm wrHten notica to Lender. Eech insu►ance poGcyr aiso sh80 inctudB an endmsement provi�ng that - : �'�'
<br /> , coverage in favor of i.�nd�w�l not he impatrad in anyr way by arry ad,amission or defaWt of Tnatar ar arry other person. Shouid the Real ';-:-�.:,.
<br /> � ' Property at arry tlme become fot�tted in en area Qesignated by the DUedor ot the Federai Emergency Manqqement Ags�y as a spadai flood
<br /> ' ha�rd area,Tn�tor agrees to obteUi and mairttain Federa!Flaod Insursnce tor the hdl unpald prindpal batance of tAa loan,up to the ma�dmum
<br /> <. pollCy limits set under the Na�ortal Flnod Insurence Progtam,or es othervvlse requtred by LenQer,and to maiMain such insurano9 forlhe term oi ' - -Y�
<br /> . . the laan. --
<br /> ;.` .. - ApDiicadnn of Ptoceeda Tnistar shall promptly notHy Lender of anY toss or damage to the Praperty. Lender m&Y�e P►uot o!toss It TnisWr . .;.;'A
<br /> ±• feits to do so within fiftean(15)days of the casualry. Whether or not Lenders security is impa(red,Lender may,at iis electon,receive end retain '
<br /> ''" the procaeds of eny insuracsca and appty ttre proceeds to Ne reducUan of the InQebtedn�s,Payment of anY 6en aftecHng the P�roDerty.or tha . ` '�.-==
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<br /> _ restorayan and repetr of fhe Property. If Lender elecffi to appty the praceeds to resloraUon 8nd repeU.Trustor ShaU reyatr or r8pffice fAe
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<br /> � damaged or desboyed Improvemenis In a manner satisfactory to Lender. Lender shaU,upan satisfectary proof of such e�en�ture.pay or �;-"
<br /> _;� , reimburse Trustor hom the proceeds tor fhe reasona6ie cost ot repalr or restoratfon it Trustor is not in defaWt under this Oeed of Tnisl. My � �...���'—
<br /> ". ' proceeds which have nat been disbursed within 180 days after theh recelpt and v+hich Lendet has not committed to thg tepeft or testaraUon o} + i;�. :; -
<br /> �" � the Property shaU be used ftrst to pay any amou�nwing to Lender under this Deed of Tnut,tAen to pay accrued interest,and 1hB wmatnQ6r.if ���=�.
<br /> t t any,sha0 be applied to ttie pAnctpal balance of tha InQebtedness If LenQer hotds arry proceeds aRer Oaymerd in fu0 of the Indebtedn�s,su� . " ?',�q
<br />�`-ti- proceeds sttall be pald to Trustor es Ttusto�s inte�ests maY eDPe�r. ,. ... ';;��+
<br /> � � UnewcpUed l�[rance at Sate. Any une�hed insurance shali inure to the benefit of.and pa�s to,the purchaser of the Propertyr covered by tNS ' � j•..t�;;:.,
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<br /> Deed of Tnst at any trustee's sale or other sate held under the provEsions of this Oeed of Tnut,ot ai any foredosure sate of such PropeRy. � �. .;s� �-
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<br /> '� � ' Tnsstor's Report on tnsuranse. Upon req�t of lender.however not more than once a year,Trustor shaD furnLsA to Le�der a�epart on eacti ' ?;��=
<br /> �; existing policy ot insurenee showing: (a)the name ot the insurer, (D)the�isks insuce� (c)the amomrt of the pnRcy; (d)Me propefty tnsured. - . . ;,, �___
<br /> � � the tAen cument replacemenl vatue of such proparty,and the menner o!detertNning that vatue;and (e)the exptratlon date of the po8cy. . ;,,g..�
<br /> . Tnistor sha11.upon request of Lender.have an independent appraiser satisf&etory to Lendet detertnina the cash value replacement tost of the • � ,i ,.•�;_
<br /> � . �pe�. '. .. .��-`-
<br /> EXPENDlMiES BY I.EHOER. N Trustot taUs fo eompiy with any provislon of thts Oeed of Trust,or N arry action or proceeding�cammencsd that �, . �:''•.'�
<br /> - woutd matertaUy afte�ct LenQer's inter�ests in the Property,LenQer on Trustor's behalf may,but shaU not ba requi�ed to.t2ke any adton ihat Lender - ' ���-•�`=
<br /> • deems appropdate. My amouM that Lender e�ends in so doing wtU beer inter�t at the rate provided for in the Note from the date incurred or paid ' ; �;,"%=�,
<br /> ° � by Lender to ihe date of repayment by Trustor. AU such expenses,at lenders opdon,wiD (a)be payabiA on demand, (b)be aQQad to the Oatance „ ' �;r�-
<br /> � ` ot!he Note and be appoAloned among and be payable w(tA any installment payments to become due durtng etther (�the term of eny appUC�ble � '_•�Y��
<br /> tn�urance po0cyr or (tq the rematNng term of tn0 Note,or (c)be Veatod as a beltoon paymem wh1cA wIU b0 due and payable 8t the Note's maMity. •
<br /> T�is Oeed of Trus!atso wlll secure payment of these amounb. The r1ghts proNQed tor in th(s paragraph sha1168 in addiUan to arry other dghts or any .. � - �
<br /> '� � remedles tR which lender may ba ent�Ued on accourd of the defaW4 Arry sucb acUOn by Lendet shall not be construea es curing the defautt so as to ' -
<br /> � • • bar Lendet from any remedy that it othervvise wo�dd have had. � . � :�' �t �
<br /> . i WAARANYY;OFFQJSE OF TRLE. The tollowing provlsions retaUng to ownetship of the Praperty are a part of tAis�eed otTrust , �
<br /> '" • TItIB. Trustor w8tranb that: (a)Trustor h0tdg good and maAcetabie titte o}reCOrO to th9 Ptoperty in tee simple.tte9 8nd cieet of eU liens end . . .
<br /> � encumbrances other than ihose set foAh in the Rea1 Property d�alp8on or in any Utte Insuranc�potiayr.UUe repoA.or flnat tl8e oplNon issued in ._ , .
<br /> . favor ot,ana accepted by,Lender in connection with this Deed of Trust,and (b)Trustor has the fuil dght,power,and authodty to execute and �
<br /> 1 detiver this Deetl Ot Trusl t0 Lertdec . �
<br /> • . OetenBe Of Titte. Subjecl to the exCeption In Me paragraph above,Trustor wartants and will forevar defend the UIIa to the Property agdnsl the � '
<br /> � ' • iBwful Gaims of ail persons. In the event eny 8cdon or proCeeding iS CommenCed t�at questlons Trustors Utle or lhe Interest o1 Tiust80 0► � �
<br /> - � � , lender under thls Dead of Trust,TNStor s�all defentl the action et 7rusto�s expense. Trostor may be the nominal party in sucD proceadtng,Dut • . •� .
<br /> • ' Lender she11 be entlUed to perNGpate in the proceeding and to be represented in the proceeding by counsel of Lendefs own chaice,and , 's
<br /> • ' Trustor wUl deliver,or cause to be deUvereC,to Lender suo�Instruments as Lender may request irom Ume to tlme te permit such paNdpaUOn. �
<br /> . Comptiane9 With Lawa Trustor warrants that the PropeAyr en0 Trusto/s use of the PropeRy comp8es with aD exlsting app�cabte laws, � � '
<br /> � ordinanoes,and tegulatians of governmental authoritles.
<br /> . CONDEtANATIORl.The toltowing provlsions reieting t0 CondemnaUOn prOCeedings are e peA of thls Deed of Trust. .�
<br /> _ `; AyplicoUOn oi Net Psoeeeda. It all or any parl 01 the PropeAy�s condemned Dy emtnent domain proceedings or by arry proceading Or "
<br /> purchase In Ileu ot condemnaUon,Lender mey at ib electton requlre that aIl or any poNOn of the nei ptoceeds of the awar0 be applled to the
<br /> , { indeb63dness or the repetr or re5torflHOn of th9 Properly. The net proceeds o}the award Shell meen fhe eward efter payment ot all ressanebte � . • '
<br /> cosb.expenses,anC flttorneys'fs6s incurred by Trustee or Lender In connecUon w'�the condemnaUon. ' .
<br /> � �roceeding9. If any prooeeQing In condemnaUon�s fited.Trustor shatl ptomptry notity Lender In wriUng,and Trustor shatl prompUy take such �
<br /> � steps 8s mey be necessary to detend the action end obteln th9 awerd. Trustor may be the nominel parly in such proCeeding,but Lender she11 �
<br /> �' b0 entltled to patticipate in the proceeding and to be represented in the proceeding by coun5el ot its own choiCe,and Trustor witl dettver ot
<br /> • . � cause to be delivered to Lender such instrumenb as may be requested by H from Gme to Ume to permit such paNcipatlon. � �
<br /> ; IMPOSITIOt�OF TAXES,FEE3 AAID CHAROES BY fiOVERNPdENTAL AUTF(ORITIES. The tollowing provlsions relaHng to govarnmentat lexes. �
<br /> � (ees end charges are e part ot this Deed of Ttust
<br /> CuReM Ttntet),FCBe attd Charge9. Upon request by Lender,TruStor shall executa such doCUments In BddiNOn to this Deed o}Trust and take . � �
<br /> ; � whatever other acUon Is requested by Lender to perfect and conUnue Londer's lien on tAe Real Property. Trustor shall relmburse lsnder for all , :
<br /> �,as descrlbed betow,together with ait expensss ineuned In recording,pertecUng pr continuing this Oeed o}Trusi,inctuding vAthaul
<br /> I�mitatlon atl taxes,fees,documantary stamps,and other charges tor recording or registering thls Oeed of Trusf. •
<br /> :. � Taxes. The foitowing shall constituts taxes to wNCh thls secUan appltes: (a)a spsciflc tex upon this typa of Deed ol Trust or upon ai1 or eny � "
<br /> , peA ot tne Indebtedness secured by th�s Deed ol Trust; (b)a speciflc tex on Trustor which Trustor Is euthorized or requlred to deduct from �
<br /> paymenls on the Indebfedness sacured by tnts type ol0eed ot Trust; (o)e tex on this typ9 of Deed of Trust chargeabte agelnst the Lender or
<br /> . ihe holder af Ina Note:end (0>a spoci�c lax an an or any poNOn of the Indebtsdness or on p8yments ol pdnCipal Bnd intOrest mads by � �
<br /> . Trustoc , •
<br /> SubSCqUent TBxes. If any tax to whiCh t1u5 seChOn epplies�5 enectad Subsequent to the date of this Oeed ot Tru51,thiS ev8nt SAaO have the �
<br /> , same eflect as an Event of De}au�1(as def�ned Delow),and Lender may exercise any or all nf its avaiteble remedies tor an Event af Dafault as •
<br /> pro��ed below unless Trustor edher (a)pays the tax before�t becomes dennquenl,or (b)contests the tax as provided above in tha Taxes and
<br /> - • liens Sechon end de0o5its with Lender cash or a suttlC�ent COrOOrate surety bond or other SeCUnty seUSlaCtory to Lender. , . � �
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<br /> � :i.'. iJ, L�z��r .�ir'Y+�`�5.2`Y �ir.z� $ �L ��ai:��': Ys"�•_ .�...�:. y_.. . .. .�, � � * - v
<br /> � ._ .:.� -1�� . ._. _,._�.11 ._ - ._-LL��'�•i���•7+sr'ali..�L-'�_41�'Si+���Y��?�'�i6�'1_ 4..:1 i�.l�." _._3_'L2].�i4 �5.� 'S ' __ _. _' _' _ _'s1....1._`'t � . '.-.
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