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� 201108154
<br /> DEED �F TRUST
<br /> Loan No: 872058393 (Continued) Page 3
<br /> improvemer:-s.
<br /> PfiOPERTY DAMAGE INSURANCE. The followPng provisions r�elating Yo insuring the Property are a patt of this Deed of
<br /> Trust.
<br /> Maintenance of]nsurance. 7rustor shall procure and maintain policPes of fire insurance with standard extended
<br /> coverage endorsements on a replacemerrt basls for the fu[I Insurable vafue covering all ImprovemenYS on the Real
<br /> Property in an amount sufficient to avoid a�plication of arry coinsurence cEause, and with a standard mortgagee
<br /> clause In favor of Lender,together wlth such other hazard and I1a61[Ity lnsurance as Lender may reasona6ly require.
<br /> Policies shall be written in form,amounts,coverages and basis reasonably accepxable to Lender and issued by a
<br /> company or companies reasonably accepia6le to Lender. Trustor, upon request of Lender, wil]deliver Eo Lender
<br /> from time to time the�olicies or certiiicates ai insurence in form satisYacmry to Lender,including stipulations that
<br /> coverages will not be cancelled or diminished without at least ten{70] days prior written notice to Lender. Each
<br /> insurance policy also shall fnclude an endorsement providing that coverage in favor of Lender v�ill�ot be impaired
<br /> in any way by any act,omtssion or default of Trustor or any other person. Snould the Real Property be located in
<br /> an area designated by the Director of the Federal Emergency Management Agency es a speciel flood hezerd eree,
<br /> Trustor agrees to o6tain and maintain Federal Flood Insurance,if availa6le,for the maximum amount of Trustor's
<br /> credit ilne and the full unpald princfpal 6afanCe of any prior liens on the prOperty SeCUring the loan, uP to the
<br /> maximum po[icy limits set under the Nationaf Flood Insuraoce°rogrem,or as otherwise required by Lender,and to
<br /> maintain such insurance for the term of The loan.
<br /> Application of Proceeds. Trustar shall promptly notiiy Lender of any foss or damage to the Properiy. Lender may
<br /> make preof of loss if Trustor fails to do so wlthin fifYeen (15) days ot Yhe casualty. Whether or not Eender's
<br /> securiry is impaired,Lender may,at Lender's eleciion,receive and rztain the proceeds of zny insurance and apply
<br /> the proCEeds to the reduction of the Indsbtedness,payment of any lien afFecting ihe Property,or the re9toration
<br /> and repair of the Property. ]f Lendzr elects to apply the proceeds To restoration and repair,Trustor shal[repair or
<br /> replace the darttaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br /> satis4actory proof of such expendiwre, �ay or reimhurse Trustor from the proceeds for the reasonable cost of
<br /> repair or restoration if Trustor is not in defau]f under this Qeed of Trust. Any proceeds vehich have nai been
<br /> disbursed within 180 days after their receipt and which Lender has not committed ta the repair or restoration of
<br /> the Property shall be used first to pay any amaunt owing to Lender under this Deed af Trust,then to pay accr�ed
<br /> mterest, and the remainder,if any,shall be applied to the principal balance of the Indebtedness. ff Lendar hoEds
<br /> any prviceeds aiter paymgnt in full pf the Indebtedness, such proceeds sBal] be paid to Trustor as Trustor's
<br /> interests may appear.
<br /> Complianca with F�cisting Inde4tednass. During tha period in which any Existing Indebtednass described beEow is
<br /> - in efiFect, compliance wit� the insurance pravisions cantained in the instrumen: evide�cing such Existing
<br /> Indebtedness shall oonstiiute compliance with the insurance provisions under this Qesd of Trust, to the extent
<br /> compliance with the terms of this Deed of Trusi would constitute a dupfication of insurance requirernent. If any
<br /> proceeds from She insurance become payable on Eoss,the provisions in this Deed of Trust for dtvision of proceeds
<br /> shall apply anly to that portion ofi the proceeds not paya6le to the holder of the�xisting Indebtedness.
<br /> LEMDER'S EXPENDITURES. If Trustor fails fA) to keep the ProperEy free of all taxes, [iens, sacurity Pnterests,
<br /> encumbrances, ar.d other claims, [B} to provide any required insurance on the Praperty, lC) to make repairs to the
<br /> Property or to comply with any obligation to maintain Existing Indebtedness in good standing as required be]ow,then
<br /> Lender may do sa. If any action or proceeding is commenced that would materially affecT Lender's interests in the
<br /> Property, then Lender on Trustor's Gehalf may, but is not required to, take any action that Lender beEieves to 6e
<br /> appropriate to protect Lender's ]nterests. AIl expenses lncurred or paid by Lender for such purposes will Yhen bear
<br /> interest at the rate charged under the Credit Agreement from the date fncurred or paid 6y Lender to the date of
<br /> repaymant hy Tre�stor. All such expenses�vlli become a part of the Indebtedness and,at Lender's option,will {A1 be
<br /> payab[e on demand; (B) be added to the balanae of the Credit Agreemerrt and be apportioned arrtong and 6e paya6le
<br /> vaith any instailmeni psyments to becorr�e due during either (1] the term of any applicable[nsurance policy;or (21 the
<br /> rerrzainfng xerm of the Credit Agreement;or (C) be treated as a balloon payment v�hich will be due and payable at the
<br /> Credit AgreemenYs maturity. The�eed of Trust also�vill secure payment of these amounts. The righis provided for in
<br /> this paragraph shall be in addition to any other rights or a�y remedies to which Lender may be ernitled on acw�nt of
<br /> any default. Any such action by Lender shall not be construed as curing the default se as to 6ar Lender from any
<br /> remedy t[�at it othervvise v�ould have had.
<br /> WAFtRAIVTY;DEFEIVSE OF TITLE. The following provisions relating to ovanership of the Property are a pari of this De6d
<br /> of Trust:
<br /> Tifle. Trustor warrants that: (al Trustor holds good anc5 marketahle title of record to the ProperYy in fee simple,
<br /> free and clear of all[iens and encumbrances other than those s°t forth En the Real Property description or in the
<br /> Existing Indehtedness section be[ow or in any tiile insurance poficy,title report,or finxl tiUe opinion issued in favor
<br /> of,and acce�ted by, Lender in connection with ihis�eed of Trust, and {b)Trustor has the full rioht,power,and
<br /> authority to execuxe and deliver this Deed of Trusi to Lender.
<br /> Defense of Title. Subject to.he exception in ihe paraqraph above,Trustor tivarrants and wil]forever defend the
<br /> tt�le tn the Pmperty against the lawful claims of all persons. In.he event any action or proceeding is commen�ed
<br /> that questions Trustor's title or the interest of Trustee or Lender under if�is Deed of Trust,Trustor shal!defend the
<br /> ar.tinn ar Trustor's expense. Trustor may be:he nominaE party in such proceeding, hui Lender shall 4e entitled to
<br /> participate in ihe proceeding and to be represenied in the proceeding by counsel of Lender's own cnoice, and
<br /> Trustor will de[iver,ur cause Lo be celivered,Io Ler.der such instruments as Lender mey requesY trom time to time
<br /> to permit such participation.
<br /> Compliance Wixh Laws. 7rustnr warrants that the Property and Trustor's use of ihe Property complies with all
<br /> existing appliceble laws,ordinances,and regulations of governmental authorhies.
<br /> Survival v4 Prnmises. Alf prnmises, agreemenYS, and statcmen�s i rustor has made in this Deed of Trust sha[I
<br /> survi�e the execution end delivery of this Deed of Trust,shall 6e continuinq in nature and shall remain in ful[force
<br /> and effect until such time as Trustor's[ndebtedness is paid in fvll.
<br /> DCISTING 1�[DEBTEDNESS. Tlte folloeving provisions concerning Existing Indebtedness are a part of this Deed of Tr�st:
<br /> Existing Lien. The ?ien of this Deed of Trust securing ihe indebtedness may be secondary and inferior Fo an
<br /> ezistiny lieri. TrusLor expressiy covenants and agrees m pay,or see to the payment of,the�is[ing Indsbtedness
<br /> and to prevent any defaulx on sur.h indPhTednPSS,any default under thc instruments evidencing such indebtedness,
<br /> or any deCnult undar any security documeris for such indebtedness.
<br /> No Modification. Trustor sha[I not enter into any agreement with the holder of any mortgagc, dccd of trust,or
<br /> other security agreement which hus priori[y over Lhis �eed of Trust by which that agreement is moditied,
<br /> amended, extended,or renewed without the prior writ[en r.nnsen;nf Lender. Trustor shall ncither requcst nor
<br /> accept any future advances under any such security agreement witl�out the prior written consent of Lender.
<br /> CONDEMPoATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br /> Proceedings. If any proceeding in condemnatinn is fi[ed, 7rusmr sha[I promptly notify Lender in writing, and
<br /> Trustor shall promptly take such steps as may be necessary:o defend the action and o6rain the award. Trustor
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