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<br /> � + , o7.2t-t�97 D��D OF TRUST Page 3
<br /> Loen No 422006 (Continued) 9�., �,013�1 _.
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<br /> under the Il�n. In any aonleal,'fruslor ehall dofend IWeif and Londer end nhnll setlsfy eny udvorse Judpmenl before enforcoment apulnst iho ..
<br /> Propwry. Trustor ahall nome Lender ey an oCdltionflt obiipoo undor eny eurety bond Iurnishod In iho Contosl proCOedlnps.
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<br /> � EvId6nC�o}PUym�nl. 7rustor 6hai1 upon demflnd lurnish to Londer anlisfaotory evldence of paymenl of the texea or eseesaments ond ahall
<br /> eulhorize lhs approprlate Qovernmental olflcial to detiver to Lender et any time a wrltlen sletement of the lsxes nnd nssessmenb agalnsl Iho `
<br /> Prop�rty. �
<br /> MoticO Of ConstruCtlon. Trustor ehflll notity Lender flt least fi(leen(16) days 6eloro any work Is commenced,eny services ara(urnlshod,or any
<br /> mat�leb �r�euppiled to tho Properly,if nny mechanlo's ilon, meferialmen's ilen,or othar Ilen could be esserted on accounl ot lhe work,
<br /> scxvlce�,or meterlals. Trustor wlll upon request of Lender lurnlsh to Lender pdvanca essurencos setislactory lo Lendor lhal Trustor tnn and will
<br /> I pay li�cost of suah Improvements.
<br /> PROPEqTY DAMAOE IH8llHRHCE. The followlnp provlslons retating lo Insurinp Ihe Properly aro a pa�i ol Ihis Deed of Trust.
<br /> i MNnttna�nC�ot InsuranCS. TruStor shall procure and malntaln policles ol tlre Insurance wllh stondrlyd extanded coveraye endorsements on e
<br /> r6ptacemenl basle for the full Insurebte vatue covering all improvements on the Real Ptoperty in en nmounl suHiclent lo avold eppllcation ot any
<br /> cntnsunnca clauso,and wlth e stenderd morigeg0e clause In favor of Lender,logelher wllh such other hezard and I18bility InsurBnCe fl9 Lendar " =•
<br /> may reasonebly requlre. Pollcles shaA be written In lorm,amounts,aovaragos and basis reason¢bly acceptable lo Lender end Issued by a
<br /> company or companles reasonebly acceptablo to Lender. Trustor,upon request of Lender,wlll dellver lo Lender from tf mo lo Ilrne ihe policfes '
<br /> or cerilflcates oi insurence In lorm setlsfactary lo Lender,Includlnp sHpulatlons thel coverages wiil not be cencelled or diminlshed wlthout el
<br /> least ten(10)days'prior written notice to Lender. Each insurance pollcy aiso shall Inciude an endorsement provldlnq lhal coverage In fevor of �' �
<br /> Lender wlll not be Impalred in any way by any act,omission or default ol Truslor or sny olher person. Should Ihe Ra&I Properly at nny tlm� ;•ti�;�.;;;,.;�
<br /> becomo tocated In an area deslgnuted by Ihe Director o1 the Fedoral Emergancy Menagement Agency as a special Aood hnzard area,Trustor
<br /> aprees to obt9ln end malntain Fedoral Flood InsuranCe tor the full unpaid principel bBtgnce or the loan,up lo iho mexium palicy Ilmils sel under r�'��`
<br /> the Natlonat Flaod Insurence Program,or as otherwise required by Lender,end lo malnlaln such Insurance for the term of Ihe loan. � • f�r^�°" '
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<br /> AppllCatlon of Proceede. Trustor shall promptty nolity Lender ot any loss or damage to the Property. Lender may make proof o(loss if Truslor
<br /> ,. ' felis to do so wfthin 8fleen(16)days of the casualty. Wheiher or not I.endePs security Is Impelred,Lender may,at its election,recelve and retaln � -
<br /> the ptoceede ot any Insurartce ead nppty tho procesds to!ho roduation of tho Indobtodrtass,paymont of any Ifan aMsct:�y the Property,or tha .--_- - --
<br /> restoration and repalr of lhe Property. If Lender elects to apply Ihe prxeeds to restoratlon and repalr,Trustar shafl repsir or replace ihe ' �
<br /> damayed w destroyod Improvements In e manner setisfactory to Lender. Lender shall, upon salis(aclory proof o1 such expenditure,pay or �
<br /> relmburse Trustor from lhe proCeeds fot ihe reysonable cost of repalr or rostoration il Trustor I5 nol In defeNl under lF�is Deed of Trust Any "-'�;��"
<br /> proceeds whbh have not been dls6ursed within 180 dnys eRer thelr receipt and whlch Lender has nol commlited to Ihe repatr or restorailon of ���_�-
<br /> lhs Property sh�ll be used 8rst to pay eny amount owing to Lender under thls Deed of Trust,then to pay accrued Interest,end the remelnder,If �`� �.��a..��-
<br /> any,shall be e�plled fo ihe principal baiflnce of the Indebtedness. If Lender holds any proceeds afler payment In full of the Indebtedness,such �:�-
<br /> . proce9ds shall be peld to Trusior as Tnistor's Interests may eppear. .�
<br /> ' ' Unexpired Insursnce�t Sale. Any unexpired insurance shall Inure to thn benefit of,and pass to,lhe purchaser of Ihe P�operty covered by thls
<br /> '��, Deed of Trust at eny trustae's sflte or other sale held undor the provlslons o1 thls Deed of Trusl,or a►.any foreclosure sale of such Property. � �o,:
<br /> . Compll�nce with E1clatinp Indebtedneas. DurinB ihe perlod In whlch any Existinp indebtedness descrtbed betow Is In eflect,compllance wilh
<br /> • th0 In9uranCe provlslons contalned In Ihe instrument ev(dencing suah Existing Indebledness shail constitule compliance wlth Ihe insurence :.
<br /> �., ,� provislons under thts Deed of Trust,to fhe extent compllance with the lerms of lhis Deed ai Trust would constitute a dupucation ot Insurence '!�1. ,
<br /> requirement. It any proceeds hom the Insurance become payabte on loss, the provl�lons In thts Deed ot Trust tor divislon of proceeds shall �'' f "� '
<br /> _ - - ' - - BNpiy�niy io t�6t Nu�ilo��Gf ir�n Nriii;nnd9 nai payaoia fo ine hoider of ihe txisi�ng indebiednesa -
<br /> DtPHNDITURE3 BY LENDEFi. If Trustor falis to compiy wifh any provlston of Ihis Deed ot Trusl,includinp any obllgatlon lo malntaln Existinp .
<br /> • Ind9bfedness In p0od standing a5 requlred below,or If uny actlon or pt�ceedinp is commenced Ihat would materi811y eNect Lender's Iniaresis In the •
<br /> Property,Lendet on Trusta's behalt may,but shait not be requlred to,take any acllon lhal Lender deams approprlate. Any nmount ihat Lender '' .�
<br /> •� ' expends In ao ddnp wlll be�ar Intorest at ihp rete prpvlded for In Ihe Nole trom the date Incurced or pald by Lender to the dflle of repayment by �
<br /> , Trustor. All such expenses,at Lender's optlon,wlll (a)be payable an demand, (b)bo added t�the baiance of the Note end be epporiloned amonp
<br /> '4: and be payable with eny Instnliment paymeniS to become due durinp eflher (ry Iha term of any epplicebie Insurance pol�y or (N)the ramaininy term r , .-
<br /> oi ths Note,a (o)be treatad as n baltoon payment wh�h will be due and payeble at the Nole•s maturily. This Deed of Trust also wlil secure �
<br /> � paymsnt o(thsse amounb. The riphts provlded for In thls parsgraph shall be In additlon to eny olher rights or any remedlea to whloh Lendar may be
<br /> entitl�d on account of the detaufl. Any such actton by Lender shail not be conslrued as curing the delault so as to bar Lender kom any remedy thet
<br /> It Olherwlse would have hed.
<br /> " WAARMITY;DEFENSE OF TITLE.The following provtslons relaHng to ownershlp of the Property are a parf oi this Oeed of Trust. -
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<br /> TIHS. Trustor warrente that: (a)Trustor holds yood end marketable tltte of record to the Property In la�slmple,hee nnd ciear of all Ilens end
<br /> , onCUmbrances other fhnn those 6et tarth In the Real Prope►ty desc�fplion or In Ihe Exisllnp Indebledness section below or In any tille Insurence ��`-
<br /> poNcy,tlHe report,or Mal tiHe opinion issued In tava of,and accepted by,Lender in connection wilh thls Deed of Trust,and(b)Trustor has the �_-.�—.--
<br /> , „ t (uM riqht,powx,end euthority lo exeaute and dellver Ihls Deed of Trust to Londer. �...,._ _
<br />- � D�hnN Of TItN. 3ubJ6ot to the excsplion In the parngraph above,Tru�lor wananis and wla torever defend lhe t(tlo to ft�e Properly agalnst the �",�-_--
<br /> . Q lawtul ckfms of oll persona. In the event any action or proceedinp IS commenced Ihat questions Trusto�s tltle or tha Inlerest of Trustee or -
<br /> ' lendsr under tAis Deed of Trust,'frustor ahali detend the acflon at Trostor's expenso. Trustor may be the nominal perty In such prxeeding,bul `=-�-----
<br />_ :+..,+,. Lsnd�r shall b�entitled fo parlicipate In the proceeding and to be represented in the proceeding by counsel of Lendar's own choice,and �..e-..,�.��,.
<br />- Tnntor wlll deilver,or cause io be detivered,to Lender such instrument�as Lender may roquost trom tlmQ to Hme to permit such participailon. '�`���'�"
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<br />�. COmpll�nCe With L�wa. Trusior warranfs thel the Property end Tru5lor's use of Ihe Property complles wilh all existinp appllcabie Ipws, �� --
<br />- -_. ordinancos,and rapulations of qovernmentat eufhodlles. f�t�.;-
<br /> EXISTIMQ INDEEBTEDNE83. The fWlowinp provistons concernlnp ezisling Indebtedness (Ihe'ExisllnQ Indebtedness'ero a part of Ihls Deed�f '� �"-
<br />' . Trust. �.�
<br />_ • . ."arL. r",.
<br /> : Ddatklp LOen. ThA Ilen o}lhis Daed of Trust seoudnp the Indebtedness may be secondary and Intedor to an exlstlnq Ilen. Trustor expressty �`r �:=
<br /> canroruints and aprees to pay,or see to lhe paymenl 01,lhe Existinp Indebledness and to prevent any detault on such IndeEledness,any detaull '� �.�;�'" ,, .
<br /> • under the instrumenb evldencinp nuch Indebtedness,or any detpull undorany secu�ily documenls for such:ndebtedness. � �; '�,„,;V�.
<br /> " �Y Default. If the paymenl oi eny I�Stallment of principnl or any Inleresf on Ihe Exlsting Indebtod�ess is not mndo within Ihe Ame requlred by the � _
<br /> � � nots ovidenclnp such Indebledness,or should a default xcur undor the Instrument soCUrfng such Indebtedness ertd not be cured during eny • •° �� ��•
<br /> "• eppllcable gnce parfod fheroin,then,nt the opHon ot Lender,the Indabledness secured by Ihls Oeed of Trust shall bacome tmmodlateiy due "`"-, '� � �" ''�"
<br /> end peynble,nnd Ihls Deed of Trust shall be In delauiL ' "
<br /> No MOdNlcatbn. Yrustor shall not enter Into any agreement with the holdsr of sny mortgage, deed of lrusf,or other security agreoment whfch
<br />= hes prtaity over this Deed ot Trust by whkh thal apreemenl Is modl0ed,emended,extended, or ren9wed without Ihe p�ior written Consent of
<br /> _ Londet. Trustot sha8 neliher request nor flccept eny tufurA advances under eny suCh security agreement without the p►ia wrltlen consenl of
<br />- Lendar. •
<br /> CONUEMNATIOH. The tdlowlnp provislons relating to condemnatfon proceedinps are e parl of thls Deed of Trust. ,
<br />-_ ApptlCetlon o}Net Proceeda I}aU or nny purt of Ihe Property Is condemned•by eminent domain proceedinps a by eny proceedlnp or ��, r��:
<br /> _ purcluss In Heu ui condemnatlon,Lender may at Its sleotlon requlre Ihal all or eny porilon ol the net procesds ot ihe award be appiled to the ' •
<br /> IndoblWness or tlw repalr or restorstlon ot fhe Property. The net proceeds of Ihe award shali mean the award nRer nevment ef ou ranennnn�o �
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<br /> . - ` avsis,e�enses,ana aaornoys�tees InCUrretl Dy Trustee or Lender in connectlon with the Condemnafion.
<br /> r Procaedi�pa. If eny proceediny In condemneNon Is filad,Trustor Shalt promplly notify Lender In writinp,and Trustor sha�prompQy take such °
<br /> _ � steps es mey be necessary to datend lhe action and obtaln Ihe eward. Trustor may be the nominal party in such proceeding,bul Lender shail
<br /> be entiBed lo participat�in the proceeding and to be represented In the proceedinp by counsel ot Its own choice,and Trustor will delivor or �
<br /> Causa to be dellvarod,to Lender eu�h fnstrurt:ants as mny be requosted by It trom Ilme to fima lo permll such part4�ipallon_ „
<br /> INAPOSITIOH OF TAXBS,FEQ$ANp CHARGES BY GOYHRNMENTAL AUTHORI7IES. Tho toqowiny pravislons relalinq to povernmentai texea,
<br /> Mes�nd ohupes m a p�rt ot thlf ONd of Tru�l:
<br /> CuRent T�xeo.Fee,��nd Ch�rpes. Upon request by Lender,Trusta sheil oxocule such documents In addlllon�o Ihig Daed ot Trust and take
<br />_ whatever oth0r a0tlon Is roquested by lender lo pertect nnd cantlnue Lendor's Ilon on Ihe Reat Property. Trustor ghall relmbursc�Lender for flll
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<br /> lAxes,ns desCrlbed below, Iopether wllh ell expenses Incurred In recording,pertocting or contlnuing lhis Oeed ol Trusl, Indudinp without
<br /> IlrniteUOn all iexe3,fees,documentary sipmps,and olher Charges for recording or registering ihts Doed of Trusl.
<br /> . Tax�s. The fotlowinn 9hall Constitute taxes to whlch INs seclion appiles: (a)a speci8c!ex upon Ihis typ�of D�ed;of T�1 or upon all or any
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