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<br /> = . , ` S 03-03-1998 DEED OF TRUST P�ge 3 ' .. .
<br /> . , ; loan Ko 633321 (CoMin�ed) 9�_ �(i��� ; � , .
<br /> � �� IEYlQenee O}Paymea4 Trt�stot Shell upon demand tumigh tp LenCer SBtistadory evidente of payment ot 1he ta�es ar essessmenis end Shell � � `
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<br /> � ' �' aNhoAS�ihe approprlate govemmental otftela!to daGver to Lender at any tlrr�a a wntten statement ot the mxes and assessments agatnst tAe • •
<br />_ ° i ProAsRY• • - ,
<br /> �� � � NoUCO o!COnslqiCttOn.Trt6tor sNall notHy lender a)Ieasl fiftBen(15)dayt betare any wark�S cammenced,any�nnces are tumish8d,or any � ,
<br /> °;, � ' � . . materfals ar8 suppllsd to the Property,H arry mechante's Uen. mat8tlafinen's Ilen,ar other lien coWd be asserted on axount of the work. . .
<br /> - • . soMees,ar tnateriats. TNStor wiU upon request of Lender turnish to LenQer edv8ncg assuranoes s8tlstastory to lender that Tnstor can artd wU►
<br />'; . PaY�e eosl ot sneh Impravements. .
<br />'}' , `i PROP�i7Y DAI�AGE INStiflAP[CE.7Ae fortawing pravfsions retaHng to ir�surt�t!►e?roA�Y are e par!of tNs Oe9d o}TnaL ,
<br /> s� ` G4atritenenee of tnsutBnCe. Trustar shall pracu�e�nd maintain poUdes ot Are Insursnce wttR stanQard e�dend¢d coverage endorsements an e • `
<br /> _. reptacemsr�basis tar tne fl�tnsmable vatue couering aD tmprovemerds on tAe Reat Ptoperry tn gn amouM Sut�dertt to awtd epptiCetlon ot any � . .
<br /> � coinsuranCe dause.arW vrlth a sffinQard mo�tg8gee dntme in favor ct LeaQer.togethsr adth Such other t�azerd 8�8abiiliy insuranoa as Lertder � _-_
<br /> `•� • may�as+ormbt�requ�re. Pondes shau be w�tten tn torm,amounts,eoverages and bas��easanabry aooeptable to lvndar and issued Oy a �. �-.•--` :
<br /> ' campany a campaNas reasanabry eooeptabts ta lsnder. Trusta�uAon cequest of Lendar.w1U deliver to Lender trom Ume b dme the pGlletes •
<br /> ' ' ' or oerffftcates of insurance in tarm satisfe�tory to Lender,induding stiputatlans that coverages vrfU aot be ceneeQed or dMNshad withoul at � � ,
<br /> t � � . , tesst ten(10)days'pdor written noVee to Lender. Each Insurarue poqey aiso shaD lnduQe en endacsemer�t prov(ding tAat coverag3 ir►favot ot
<br /> ��.� ` Lender w10 nu!be impsUed Ia atry way by any act,om�ssion or defaWt oi Tnffitor or any ctAer pgrson. SAo�the Resl PropBtty at arry tirt�e � ..
<br /> ,,��; � beoome located in en erea designated by the DUector ot It�a Federa!Emergency Martagerqent Age�y as A spedal Baod Aezerd erea.Tnista -
<br /> `!-; , 8gree5 to obt8in and meintaln Federal Flood Insuranoe tor the fim unpaid pdndpa!b8ianoe oi Ihe toan,up to the ma�dmum po0r.y Qmits sef _
<br /> . under the Nationel Flood Insurenee Program,ar as otAennrise required by Lender,and to maintsin such lnsivance tor the term of the loen. � . ' .
<br /> .j_� ' IlyplfeaUcn ot Proteeda Trustor shall promptry nolitty Lenuer of any Ipss or damage to the Property. L.ender may make proot pt(os,9 HTrustor . � `
<br /> )a ta�to do so wtWn fifteen(t�da y s ot the casual t y. WAether ar not Lendei's sec t u i t y is i m pahed.Lender ma y.at(ts efeCtlOn,teceNe end r8tein $ � �' �
<br /> �}� � " . the pra;eeds ot eny Insurenoe and apply the prCCee�to the reduCtlon ot the lndebtedness,peym9nt Of eny Oen flftectlng the PropPlly,oi the � � ���
<br /> �.l`: restoratlan end repair ot the PropeRy. If I.ender eieds to apPty the praceeds to restoraUon end re0air.Tnistor shsp repelt ot repiBCe tAe , . : .`'=.;Y
<br /> "}� damaged or destroyed Improvemerns in e manner saUSfactory to Lender. Lender shaD,upon satisf8ctory proot ot suct�e�en�iture,psy m � !•�� +° -
<br />_`� celmburse Tn�stor hom tha procseds for the reasonab�e cost of�epafr or restaradon H Twtor ts not tn default undar fhls Deed of Tn�sl. My , � , . __
<br /> �� proceeds wtilcb have not been cUsbursed within 180 days efter theh�ecetpt and wh)ch tender has not committed to tAe repalr or restoration o} p =
<br />-`�`< . � the Property shatl be used ffrst to pay any amount owing to Lender unQer tNS Deed oi Trust.then to pay acaued interest.and thB remahrder,ff `��'a:-:
<br /> �'t � arry,sheD be BppUed to the prfncip8t batance of U►e tndebtedc�ss. It Lender Aolds arry proceeds after payment in tult ot tha tnQeDt�Q�ss.such i °���
<br /> ��� . � proceeQS sh80 be paid to TRtstor as Tnbtors inLeresfs maY BPP�. f • `.'`j,,_�`�
<br /> :,�i t. � . UlI1QYpUlA 1t18�IJIAJtCE�11 SES!!.Atry U(IB�jliled iI1SUt8I1CB Shell illtAe t01hB bellefil Oi�H�id pBSS t0�th@ PUlCheSBt Of fhe FtOQedN COY6[ed byl lhi9 ` '�r=..,r;:�-
<br /> ,�.: . " . Oeed o}Trust at arry trustea's sele a aiher sete twid under the proNsWns atthis Qeed oF Tiusl,ar at any forectosure sels of euch Pny�srly. _., _--
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<br /> -;� • EXPENDITIiFiES BY LEI�DEA tf Tnutor fails to compry wit1�any provision of lhis Deed ot Tnut.or if any acdon or proceeQing is comrtenced that �+�
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<br /> wou(d matertelry attect Lendets Interests In the Properly,Lendet on Tn�stofa behalf may,but shatl not be required to,fsice any actlon Ihat Lender �•;„;.-
<br /> _;;' � deems appmpdate. My amourn that Lender e�ends in so daing w(tl bear irderest at the rate provided tor in tRe Note trom tAe date incurred or paJd �
<br /> � . by Lender to the Qate of repayment by Trustor. AO sush e�enses,at Lendefs opHon,w!U (a)be payab►e on demand, (b)be added to the betance ����'�-��
<br /> �;. ::..3t.,�:
<br />,-�-�; . .. . .. of tAe Note and be appordoned emong end be payrabte with anyr ir�ai►men!paymenb to become due during either p)the term of arry applteabte •.,;,<<,,�v,;
<br /> t., • � . � insutence poGcyr a (if)the rematNng term of the Note,or (c)be heated es a da0oon paymenl whicA wN be Gue an0 payebte at ihe NotO's meturftyr. -,z
<br /> Thts Oeed of Tiust atso w(q secure paymerd of these amourds. The rfghts provlded for in th�para�apn shall be in addlUon to arry other dghts or arry , z ;,
<br /> .�Y; � reme�es to whtch Lentter may be enBtled on accouet of fhe defa�ilt My such ac8on by Lender shall not be wnshued as curing the detault so as to • -t t�''.
<br /> +�': � _ bar Lender trom any remedy that it othe�waNd have had. , . •'?`"-�
<br /> `�•� WAiiRANTY;OEFENS£OF TIfLE.The tol►owing provfslons relating to ownershtp of tAe Property are a part of thb Deed of Tnui . ' .'�'°���.`:
<br /> '' � TIUe. Tnutor warrants thet: (a)Trwtor holds good and maAceteb►e tltta of record to the Property in tee simpta.free end ciear ot eU Qans an0 �.,� �.
<br />�'�; • i encumbrances other than those sef torth in the Real Property descxiption or in any titte i�urance policy,tWe repoA,or flnal tltte optNon i5sued in ' • .' ,��,�,_-:
<br /> ".. ,, � favor oL and ac:ceptetl by,Lender in conneCtion xnth thls Oeed ot Tnist,and (b)Trustor has the(WI dghL power,and aut�ority to Bxecute and
<br /> �� ' defnrer this Obed of Trus!to Lender. �`,3�',
<br /> ��� ' . .{ Defen9e o!Titte. SubJect to the excepUOn in the paragraph above,Trustor warrants and w(fl torever defend the UUe to the PropeAy ageinst the ' � �� � �
<br /> Iawtul clalms ot atl ersons. !n the event �- � � '��
<br /> p anyr adion or proceeding is commenced ffiat quesdons Trustor's Utta or the irRerest ot T►ustee or ,•�u:r,�
<br />" Lender un�er thls Deed of Trwt,Trustor shail defend t�e acction at Trustors 8�ense. Trustor may be the�ominai p8tty in such praceodin@.bul �`"t-=
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<br /> . � • � Lender sh&U be erNUed to parUppate in tAs proceeding and to 6e represented in the proceeding by counsel ot Lendets own ehoice,end �� �. ; ;:;�`:`
<br /> Tn�stor wi11 Qelhrer,or cause to be detivered,to LsnQer such instruments as I.ender may request irom Ume to 6me to permif such paNCIpBUan. '•�;��".
<br /> .`. , ComptlBnCe With I.e�ve. Trustor warrants Mat the PropeAy anC Trustors use o1 the Property complies wflh ali exisUng appiiCBbte taw9, • - : � _
<br /> ordlnanCes,and regutatlons of go+remmentel authodUes. � =
<br /> `'s�� CONDEMMATION. Thefollawin
<br /> , g provlstons ralating to condemaeUOn procggdtags ere a p8A of lt11s Oeed ol Trus1. •--�•'�
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<br /> ' ;�:`. ' Appllea4ton o!Het ProeeeQe. If all or any parf ot the Property is condemned by eminent domaln proceedings or by any prooeeEing or � . �
<br />` :;�,�: purchese In�eu of conQemnaUon,tsnder may at ib eteWon requUe that all ar any poNOn of the net proceeds of the award be eppUed to the � • � --
<br /> � tndabtedness a tA9 repah or restaratlon af ihe Ptopedy. The net procseda of the 8werd shetl mean the award after paymeM ot 811 reasoneb(e .
<br /> casb,expens�,aad attomeys tees inamed by Trustee or Lender In connectlon with the candemnaUOn.
<br /> .�ir:, � � . PfOCEEQtng9. If any prooeeding In condemnaUon is fited.Trustot shall promp9y notify Lender in wriUng,and Trustor shell promplly teke such �, �� - �
<br /> t� steps es may be necesseryr to defend the action and obffiIn ihe award. Trustor may be the nominal party in such pro�eeding,bu!LenQer sAall �
<br /> ` � � be enttUed to paNdpate in the procee�ng and to be rapr�ented in me proceeding by wunsel of ib own choice,and Tnutor wiil dei{ver or �
<br /> �� } eauss to be de0vered to Lender such Insfruments as may be requasted by it irom Ume to time to permit sucA perHOipaUon.
<br /> .:`� } IMPOSITtON O�TA7�S.FEES AND CFIARRES BY GOVEANMENTAL AIlTHORITIES. The following provisions reta�np to govemmenta!taxes,
<br /> I fees and charges are a parl ot this Oeed ol Trust: . • •
<br /> �� Curtent T�ces„Fees ana Chargoa Upon request by Lender,Trwtor shall execute such dacumenta In additlon to this Oeed ot Trust and take
<br /> whatever other acfion Is requested by LenQer to peAecl and conUnue Lenders Ilen on the Real Property. Trustor shall relmbwse LpnQer tor all . .•
<br /> , taxes,as described befovi, together w8h all e�enses Incurted U recording,pertecfing or contlnWng this Oeed ot Tn�s1,inctudin8 w(thout • .
<br />: • � umilation ell texes,tees.dxumentary stamps,and othet charges for recording or registedng thi5 Oeed of Trust. �
<br /> Tmces. The following shau cons�tute taues to which Ihis section appties: (a)a specifto tax upon this lype of Deed of Trust o►upon all ar eny
<br /> � paA o}the Indebtedness secured by this Deed of Trush (b)a spectflc tax on Trustor which Trustor Is authoAmd rn requlred to deduCt fram �
<br /> '� � paymenb on the Indebtedness secured by this type o}Deed of Trush, (c)a Uu on this type o}Deed ol Trust ehargeable agalrtst the Lender or . ,
<br /> . .' I the hot�er ol the Note;and (d)a speci8c tax on e►I or any poNon ot the Indebtedn�s or on payments o1 pdndpal and interest made by ,
<br /> Trustor.
<br /> , Subsequent T�ces. H any tax to which th�s sect�on apDi�es is enacted Subsequent to the date a1 this Dead ot Trust,this event shail have the �
<br /> , same ettect es an Evont o1 Oefaull(as deflned betow),and Lender mey exereise eny or e)I of ifs availaDte remedteg tor an Event of 08feufl es . " .
<br /> . I provlded betow untess Trustor e�tner (a)pays the tex betore it becomes delinquent,or (b)contesfs the tax as provlded flbove In the Taxes antl • •
<br /> �.. uens sectian and depos�fs vrlth lender cash or a sutNcient corporate surery bOnd or oMer securlty satisfactory fo Lender.
<br /> : , ` SECURITY A�iREEl�1ENT;FINANCINti STATEMENTS. The followmg provisions relaung to this Ooed of Trust as e securlry 8greement are e paA o1 '
<br /> i: .�_: � i ih�9 Deed ot Trust.
<br /> • � � ! SecuAty Agreement. This instrument Shail consGtute e seCUrity agreement to the extenf eny o}the P►opeAy cOnsUtutes fnctures or other
<br /> • personei propeAy,and Lender shall heve 811 of tha dghts ot a secured parly under the Uniform Commerc181 CoQ9 89 amended(rOm Ume to � '
<br /> ume. �
<br /> ' Seturity InterBSf. Upon request by Lender,Trustor shell execute financing statements end take whatever other action i�requested by Lertder '
<br /> . • ' to partect and continue Lender's security interest In the Renb and Parsonal Property. t�addiUOn fo recording this Oead ot Trusf in the real
<br /> propeRy records,LBnCer may,al any Ume and with0ut fuRher authoriratlon hom Trustor,file exeou�ed counterpa►LS,COpies or reproduCtlons Ot
<br /> this be9d of Trust es e flnencing statemenl. Trustot shall reimbuae Lender for ail expenses incurred in per}ecUng ar continulag ihis security .
<br /> �`r�_ interesf. Upon detault,Trusfor shail assemble the Personal PropeAy in e manner and at a ptace reasonably convenlent to Trustor and Lender
<br /> end mak9 it avait�bi9 to Lender within ihree(3)days efler recelpt o}written demand hom Lender.
<br /> AdQrOSS@9. Tt�e mailing addresses ol Trustor(deblor)and Lender(secured party),from whiCh intormallon concerNng f�e Security lnterest �
<br /> ��.. :,. grented by ihis Deed ol Trusl may be o6ffiined(each as required by the Undorm Commercial Code},are es StetQd on�he first pege Of this Ofled
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