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<br /> ' DEED OF TRUST Page 3 ;F � � ' _
<br /> . �00�10 azssaa lCon4lnusd) 7.q A�160S i� � � . �. .
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<br /> •.� to pny,so tony�s leader's interesl in the Proparty is not Jeoyardized. I1 e lien arisos or is fited as a result of nonpeyment,Trustor 5ha1f vnilun , �, ' �"
<br />, Pfhen(16j dayS 6ftet th0 L'On er(sos Or,it 8 fien Is fi'6d,wit�ln 6fte9n(15)days after TrustOr hae notice oi iho filing,SeGUro the Cischarge ol thp � . . � . „'r.
<br /> ,� Iten,a II t8qu9sted by Lender,EepGS�l vrRh Lendet tash or a sutfic�e n t c orpo re t o s u rety b o n d o r o t h e r s e e uri t y satisfacto ry to Lender in en , ' � ,,
<br /> flmount S�i6dent to dtscharpe lhe Iles�plus any cosls and eitomeys'ress ar otha�chargas tnat rould accrue as A resun o1 a foreetosure or saie F . -
<br /> �! under the OBn. In eny contest,TNStOr ShaO defend(tself and Lender and sheli satisfy 8ny adverse judgmeni b81ore entorcemanl aga�nst the .
<br /> � ProRetty. Tnutot sh811 name Lendet fl5 en eddttor.ai obligee under any surety bond furnished in the cantes!proceedings. � ' jM
<br /> EYidln¢E of P3'�ntent. Tnastor shail upon demflnd fumish to Lender sa0siactory evidenee ol payment o!the taxes or essessment5 and shatl
<br /> authoriza the approprtate Qovemrrtentnl otflctat lo dellver to Lender nt eny tfine a written statement of lhe taxes and assessments against the _ -_
<br /> .� ��De� ` ' .
<br />`_ � HoUee ot Conataustitort.Tnstor shali no6fy L.ender at Ieast fiftesn(1�days betore any work is commencetl,any seMCes are tumished,or any , _
<br /> mated8ls are supplled to th9 Propei4y,tt any mechanic's I1en,matedalmen's 6en,ar other t�en could be asserted on account of the work, -•�f
<br /> � servlces,or matet(BIS. Ttustor vn71 upon request ot Lender tumish to Lender advance assurances satistactory to Lendar that Trustor can and w11
<br /> pa�the cast oi such improvemer�is. • <
<br /> � PAOPERTY DAMAd'aE IHSUAANCE.The foilowing prodsions relating to Insuring the Properly are a part of ihis Deed ot Trusf. i
<br /> 1 [dainEertBnee Of lnsui3nCt. Trustor sha!1 procure snd maintain poiicies of fire Insurance with standard extendad Coverage endorsements on a ,
<br /> 1 2p18oemertt besis for the fuD lrsur8bl8 v81ue covedng sU Improvements on tha Raat Property�n an amoun!suH'.dent to 8void aRpiiption of any • .
<br /> .; cnin,ura,zsa�a�e,and wi'J+a slanEard martgagee dausa in favor ot Le.ncar,ingether v,ir such a!ner hazard an�AabTt�r insurance as LenQer .
<br /> r.say raasn:aDty reqvire. Pal:cias sria7 Ce writiz:+in fotm,amoun'-�.coti2ragas anu bass rzasa��ably ac�.��-��a to ls.n�E.^.�+"ss::ac�by e - . ----;°--,_- -- ---
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<br /> � ' campa�y cr co�npantes rnasonabiY eCCeD����nIIar. Tn�stor,upon raqu�t oi Lender,vn11 deliver to Lender trom tlme So tirne ihe po1iC� F � ,. _
<br /> ar cet6flc8t�ot insurance In form safisstaactory to Lendar,in�latling stipulations that covarages will not 6e cancelied or dminished without at , ; ,_
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<br /> least tan(10)days'prior wrttten noflce to Lender. Eech insurance poticy aisa shall tnctude an endorsement provlding that coverage In favor of � , - -�-
<br /> "�� Lender wi0 not be impalred(n any way by any ad,om(ssion or defauil o�Trustor or any othar person. Should Ihe Real Property at any time : �'.
<br /> become located in 8n area destgnated by the Olrector ot the FedErai Emergency Managsment Agency as 8 special flood hardrd erea.Trustor
<br /> � agrees to obta(n end mafntatn Fedsral Flood Insurance tar tt�e futl unpaid pdncfpal balance of Iha loan,up to the ma�dum poticy limits set under . _ • �_,_._�_.
<br /> the Natlonel Flaod insurance Program,or as otheiwtse required by lender,and to malnlaln such fnsurance for lhe term of the loan. ` �w.�
<br /> Appik�tion ot PirOCeeQ�. Ttusfat shall prompily ootify Lender of eny loss ar damaga to fhe Property. lender may make proof oi loss if Trustor . ,. �_....��1q r,-`�
<br /> f8t.'s to do s0 wI1Mn flfteen(ib)days of the cesuaity. Whethet or not LenCer's secunty fs imp8lred,Lender may,al ils o!eCtion,receive and reteln ,�
<br /> Ihe ptoeaads of nny Imurancs and epply tha proceeCs to lhe reduoUOn o1 the Indehtedness,peymenl ot any Iton adectlny the Property.or Ihe . �'�.
<br /> - rostpr411an end rapair o1 lho PropeAy. If Lender etects lo aDD�Y�ho proCOeds to restorotron end repeir,Trusta shou rep�r w roplace Ihe �:-'�__=_-
<br /> drmap�d ar dashoyed Improvements In e manner satistactory to Lendar. LonCer shnn,upon sniisiaclory�roo!ol euch expendiluro,pny or ��
<br /> raimbws�Trusta hom th�proCeeds for Ihe reasonabte cost of�upav or raatoration�f Trustor is not�n defauil under Ihis DeoO a�Trust. Any :�
<br /> ptocNds whkh AQVa no1 beon dl,bursed wnhln 180 deys aflor theu roee�pt nnd whcch Lonaar na�no1 comm�lted to Ihe�epeu or testorot�on o1 .
<br /> Ihs PrOpettyr shell be used flr81 to pey eny am0unt Ow�np t0 Lender under Ihts D98d 0�Trusl.Ihen to pay eccruad Intere3t,antl Iho roma�nder,i1 t'.,�,,,�"
<br /> ; srry,ahtN bs apDl�d to 1hs pdnclpnl balance ol lhe tndebtedness. 11lenGec holds eny prpceods atter payment in tull ol tfie Indebtedness,such . , �.�-;;:g{ �.:: -
<br /> prooeeQi s1�e11 D6 patd to Ttustor a9 Trustora Interest9 may appaat.
<br /> Unexp(f!d�rtwrbnce Ot Sete. My une�ired InsurBnce shatl Inure lo Ihe benefit of,and pass to,the purchaser of the Property covered by IhLS � � . . •
<br /> i Oead of Tnlst at any trustee's sale ar othBr sate held under the provisions ot lhis Deed of Trus1,os at sny toredosure sa�e of such Property. �. , � • � .
<br /> OtPIX�ITt�E9 BY LENflER. If Trustor fa(IS to wmply with eny provlsion of this Deed of Trust,o►if eny actlon or proceeding fs commenced Ihat , • �' . ..
<br /> woWd matirlaBy atteet L�nders Irtterests In the Ptopedy,lender on Trustofs behaif may,bul shall not be required to,take as�r acfion that Lender
<br /> deems approprlate. Any amount that Lender expends in so dotng will bear interest ai the rata proNded for in the Note from IAe date Mcurred or patd
<br /> • by Lend6r to the date of repnyment by TruStor. All such expenses,at Lenders opuon,will (a)be payable on demand, (b)be added to the baiance ��
<br /> : of the Note and be apporUoneA among and be payable wilh any instalimenl payments to become due during either (i)Ihe term ot any applicabte �� 1' �
<br /> • � �� insuref�ce poiiCy or (ii)the tem8lNng term of the Note,ar (C)be treated es a balloon payment which wiil be due and payabte al ihe Note's maturity. -�'�'t� �
<br /> Thls Deed Of Tntst 8ks0 w111 seCUre paymenl of these emounts. The rights provlded for in th(s paragreph sha0 ba in add�tlon lo any othar rtghts or sny � �; 4'�
<br /> remedles to wh(ch Lendet may be enGUed on account of the detault. Any such action by Leader shalt not be construed as curing Ihe defauU so as to �Y5�� ��,+� `
<br /> � bar Lendet irom any remady that It othen�lse woutd have had. �� � '� '�•• y .
<br /> WApiiANTY;OEFEENSE CF TITLE.The foAOwln ro+risions relatin to ownershi o�the Pro e are a part ot this Deed o1 Trust. ��' -
<br /> N 9 P 9 D P �Y �`' ,•_
<br /> .� { Tltte. TnistOr wartents that (a)TrwMor hotd3 good and marketable title of record to the Properly in tee simple,hee and claar o1 all Oens and —
<br /> ` enCUmbranees other than those set fortb In the Real Property description or in any tiQe insuranCe poGcy,MIa reporf,or fin811iUe opiNon iss::ad in �,r.•—
<br /> � favor of,ahfl BCCepted by.Lender In Connsctlon wilh thls Deed of Trust,and (b)Trustor has lhe fu�I right,power,end authoAty to execu'e and ��' �
<br /> i•�° delhrer th[s 0eed ot Trusl to tsnder. ,��u� �, _
<br /> Oehnte o4 Yitte. SubjsCt to tha exceptlon In fhe peraprap:�above,TruStor wartants and wiA forever de(ertd the title to the Ptoperly apainst the ';:,, �g; �
<br /> - IawfW Clatms of all petsons. In tha evenl any EtcOon or proceeding IS CommenCed that questlons TrustOr's UUe or the interest of T►ustee or ;,,�°'_? l
<br /> � Lender under lhls Oeed of Trusi,Trustor sha0 defend the action at Trustor's expense. Trustor may be the nominal party in such praceeding,bui � �"f=�'=_ "
<br /> Lender shell be entiUeO to partictpate In Ihe proCeeding and to be represented In the prooeeding by counsel of Lenders own chotce.and _ ,-��"�
<br /> 7rusta wRl deRver,ot cause to be delhrered,to Lendar such Instruments as Lender may request from tlme to Ume to permlt such participalion. � _ _
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<br /> Com a�ICe Wllh LAwe. TNStor wartants that ths Prop2rly and Trustor's use of Ihe Properly complies wlth all ex+stin8 applicable laws, , a;z-�a:�-
<br /> ordlna�,and repulaUons ol governmentat euthorlUes. '�����'�"��.w--
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<br /> �HDEMHATION. The tollowlnp provlslons relatiag to condemn8lion ptoCeedings are e pert oi lhis Deed o!Trusl. - -=�T�-
<br /> �• �'' Appl{C��oi Het ProeeeQs. !}atl or any parl ot the Property Is condemned by eminent domaln proceedings or by any prot:eeC:ng or � '`.'`�.
<br /> purohaso In Ueu ot condemnaUon,LenQer mey&t Its 01eCtfon requlre that all or bny po�tlon of the net proceeds of the awarG be apD�3e0 to the .
<br /> IndebteQness or tha repar ar restoraUOn ot the Property. Tha net proceeds ol the oward shall mean the award after paymenl ot atl reasonable . ,,
<br /> : . costs,wcpenses,flnd fl,",or-cys'less IncuRed by Tnutee or Lender In connecUon vrlt�lhe condemnaUon. ,' .
<br /> i PtoCeedfiy�. If any proceeding In condemnaUon ls filem,Trustor shall prompUy noti(y Lender in wrlling,and Trustor sC�.a9 prompUy take such ' _ .
<br /> step9 a9 may be necessary to detend the actlon end ob'2:a the award. Trustor may be Ihe nominal pariy In such proa�ding,but Lender sha11 • _
<br /> � � be enEtte�to parUctpate ln the ptoceedlnp and to be reAtesented In tha proceeding by counsel oi Its own cholce,and Trustor will d�::ver or • . •-
<br /> ceuse to be delivered to Lender such(nstruments es may be requested by d irom time to tirtre to permlt such peAiclpatlon. ,
<br /> � . IMPOSITIOH OF TAXFS,FEES AND CHARtiE3 BY GOVEFiNMENTAI AUTHOAITIES. The 1o�owing provlsions retating to governmental taxes. �
<br /> fees and Cherges are e paA of thts Deed of Ttust: • ' ��• �C'`
<br /> �ltrtent Tmcea„FEe9 v10 CharpES. Upon request by Lender,Trustor shall execute such doCUments in addition to thls Oeed of Trust and take � : �_
<br /> , whatever other acUon is requested by Lender to peAect artd continue LendePS lien on Ihe Fteal Property. Trustor shall�eimburse Lender tor all , . .
<br /> taxe9,as desCr(bed balow.topethor wllh all expenses inCUrted In recording, perfecting or eontinuing lhis Oeed o1 Trust,including without
<br /> Qmitatlon aU taae9,fees,dacumentary slemp9,and othar eharges tor recording or registedng Ihis Deed ol Trust. . �
<br /> � T�es. 7he fo0owlnp shall ConsUtute texes!o whlch Ihls sectlon epplles: (e)e SpeGFlC ta�c upon this type ot 068d ot Trust ar upon a11 or any . —
<br /> paA ot the Indebtedness secured by tAts Deed o}Trust; (b)a specific tex on Trustor which Trustor Is authodzed or requlred to deducl hom •
<br /> payments on the InCebtedness secured by 1hls type of Deed of Trust; (c)a fax on 1hls type ot Oeed of Tnut chargeabte egalnsl lhe Lender or . , • -
<br /> Ihe holder of the Note;and (d)e speciflc tex on aIl or any portlon oI the Indebtedness or on payments of prinGpal and Interest made by
<br /> Trusta. •
<br /> ' SubBeytaent Tmters. 11 any Isx lo whleh thls seclton appties Is enacied subsequent fo the date of 1hls Oeed of Trust,thls event sha11 have Ihe '
<br />, Seme eitect t15 ea Event of Defnufl(as deflned belOVi),8nd lender may exerclse eny or all oi its availabte rem0dles ior an EveM of Oefaull as � . -
<br /> . provtded below uoless Trustor elther (a)pays the hix betore It becomes de�inquent,or (b)contests the ten es provlded above in the 7azes and ,
<br /> Uens SeCUOn end depaslts wlth Lender cash or a sutflCl2�t corporate surety bond or olher security saflsiaCtory to Lender.
<br /> SECURITV 6lGREE1VIENT;FINANCIN�STATEMENTS. T►:e(oBOwing pror.sons relating to Ihis Oeed ot Trust es a security a�teement aro a pert of '
<br /> thls Oe9d G4 Te�st. ?�
<br /> SeCUAty AytCement. Thts instrument shalt constitute a security agreement to the exlent any o1 the Properly Constitutes fix:cres s� othar - � ���
<br /> � l personet properly,and L�nder shflll hBVe atl of Ihe rlghts of a secured party unde�its Unitorm Commerclal Code as amended:TCm time to °
<br /> � I tlme. � • .
<br /> � ae,.uriiy intetaoi. tJpon reqttssi by Lsndar.Trs:s2u s�alt axscuta flrar:cirsg siaSamarsls ar.d!a'.:a�halsvar a!l�.er at:ias:'s ragu~!as!by Lcr� _.. . _
<br /> !o perfoct and contlnue Lender's Socurity Int9rest In the Rents and PeBOnal Properly. tn additton to recot;finp trl�QaD�vi Trust In the real f
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