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<br /> . " . . : � D£E�0�4RljST � �v Rase 3 .: �: : ;.
<br /> .. � ' 03-1�1998 Coatinu�3d) 9�� ��i��ad . `.n
<br /> . . loan Na 673673 � ,
<br /> `-'' ` ` • autharls�th�epDmPrfate 9ovemmenfel otfldat to deH�rer to Lsnder at aeY 6me e wrlUen statemeM ot ths�and e�menb agair�st the .
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<br /> � • , o�ot ConBtNet[on. TNStor shaD aotify Lertdet at leasi fiReen(t�day9 befor9 arry work Is comrt�sno0d.eny sandC�are tuml9�ed.ar e�Y ••. .` -
<br /> � , m a f a r i a t s ar e s u p D�d��e P r a p e r t y.i t a n Y m e c h a n!C s U e n,m a t s r t a►m e n s u e rt.er oV[er Ren eo�d b0 asserted on aaount at the work. �~ .
<br /> services,or materlats. Tn�stor wiU uAOn request of Lendes Nm[st�to lendet aQvance sssuranees salistaGary to Lendar that Tnatar can and wa1 • �
<br /> f. < pay the eost of sucfi tmprovementg. :
<br /> �4 PROPEiiTY DAlYtAtiE 16tSURtIHCE The fouowing provislons rela8ng to irs�uing the Property are a paA of tNS Qeed af Tiust. , ,� , ..; �
<br />', . Nleintenm�ee Of tnsurtu�ce. Tnutor stiatl praaue and mai�in po(icies ot fire Instu$nee with sffinQard extenCad coverage endorsemsnis on e , ,
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<br />��: ' � replacemenl bas(s fa the tW inswabte vatuo eavedng aD tmprovemerdS on the Real Rrope�ty In a�emou�rt sut6dertt to avold appftcefion af eny ,
<br /> °.�:s-...-R:.= e a t n s u r a n e e d a u s s.a n d w l h a s t a n d a r d m o A g a g e B d a u s e in f avor of Lender.t o gether wilh sueh other tmzard and Oabigt�l insuranoe as Lendar _ _ ..,
<br /> � - -- �i�r r�re. PoUdss shail be vmuen N tor*e.amaw�.eaverages and ba5ts reasonahy ecceAtabte to Lender an d i s s uo d by a .�•4._
<br /> - • ` comyany or eampaN�reasonabty acoeptebte�°�endar. Trustor.upon�equest of Lander,wD)Qefiver to Lender hom time to 6rtre H►e DoPodes ,
<br />- or cortiftcates o!i�urance in i orm s a t�a C t a ry t o L ender.inctu�n g s ti Pfdattona that�wm rtot ha eanoeIIad or�IImin(shed wlthout at .. .
<br /> � teast ten(td)days'P�or writfen natt�te Lender. Eaet►[nsurance paUcy elso st�ail indu�an endorsemen!provlding that coverage tn fawr of .
<br /> � L en Q e r w i B n o t b e i m p a h e 0 i n a r ry w a y b Y a r ry a c►.omfs�ton o►Qe►su8 of Tnutar ar anY oUer person. Shoutd the Eteal ProAeity et er►Y Bme
<br /> �"` becoma lawted in an are8 dastSn�ed bY the Q"aector of the Federat Emergencf►Mana9em8�Agency as a spet�al flood hazatd area.Tn�stor -: :`+`
<br /> •� ` • agrees to abtetn anQ matr�atn Federsl Road tnsurance tor the NU unpald pr6xtDa!baiatsce oi the ioan.�to tAe ms�dmum poiicy M�HS sei ,. �` .
<br /> � • - under the NaUonat F[ood Ins�uanba Pro9ram.or as o1hm�+Ese requtred by Lender.and to mairdain suci�insurance tor the term ot ihe taar►. .
<br /> i;�. � . , �. AppIIt�Row af�roeeeQs.Tnistrn sha0 pramAttl►n°t�y►LenQsr ot an]I ioss ar�maSe to the Propady. Lender maY make ProM of toss H Tnstar :� •f.,�_y:.
<br /> faiis to do so wf Wn fiPoean(t5)daYs of the casually►•Whether or not Lenders seauit!!�s�m�d I.snder may.a1 Hs et�cdon.[eoehre end aBtain :
<br /> � the proceeQs o1 arry irsurance and apD�Y�e procee�ts to iho reductian of the Indebtedness,paymard ot erry Oen eftect�rtg tAe Praperty,or tt+e - ,F.,,T'• -.
<br /> restorabon and repair oi the P�roperty. if Lender�ecis to appty ths proceeds to sestora8on and repalr,Tn�stor sha�9 repair at reptace tfie , • ,.:,
<br /> ;� . . - damaged or destroyed Improvemertls ie a manner eatistactary to Lander. Lender shaU. Won satisfactory proot ot such expenditure.PeY or .: .. .. .'<_�'� .
<br />�� � reimb�use Tiustor from tfie proceeds for ihe teasorreDte cost at repair ar�ta�a9on(f Tn�star fs not in Qetauit undar this Oeed oi Ttust Arry •_ _.
<br /> �f. '�'•`; proceeds whtcA have nat bsen d�sbursed wilhtn 180 days after lhefr receipt end which lender hes not commRted to the repatr or tastaiaBon of �. t ,' - .. , �
<br /> ' the Property shell be used first to pay any amourtt owing to Lender under thts Deed af Tntst,then to pay srxrued inte�st,end tlie remainder.it
<br /> `'� ' ' . ' . any.sha0 6e applied to tha prfndDal batance of the ladebtedrt�s. M Lendet hotds eny prcoeeds a8er PaYmer+t tn tW of the lnde6flednesg„such �°•
<br /> f . • proceeds sha0 be Dald to Tnistor as Trustors tnterests may aPP� .�_–
<br /> Une�red tn�tran�a!gye, Any unsxpired insu►ence stiatl inure to the bene8t of.and pass to.ihe P�chaser of the Prapedy cove�ed Dy thts � –
<br /> Oeed at Tnsst at any trustee's sate or other sete hetd under the pravisiors of this Deed olTrust.or at arry toretiati�ue sate of such PrapenfR __�_ �
<br /> " TAX M1D INSIfRANCE RESERVES• Subject W any GrttitaUons sst by apDrCabts Iaw,Lander may requhe Trustor to meirdatn witb Lender reserves ' ` �
<br /> � ' � for paymenf ot annu a!t a x e s,assessmen i s.a n d t n s t k a n c e p r a m�u m s.v fi i c h t e s e N e s s h a l f b e c r e a l e d G y a d v a n c e p a y m e n t o r montA t y pa y merAS of a `. � �T_
<br /> sum estimated by Lender W be suffident to praduce emounts at teasl equai to the taxes,assessments,and insursnce premiums to be paid. The =. ,T:
<br />_ . � . reserve tunds Shail be heid by Lender as a genetal depOSit Bam Tw^tor,whieti Lendes may satisfY by paymerd of the 18xes,855essmer�is.8nd ; �„,:�,•.;�
<br /> .. .._. , i���premtums required to be paid by Trt�sto+as they become due. Lendec shaA have tfle dgld to draw upon the reserve hmds to pay sucls ;_�:_ ,
<br />:;' � items.an0 Len6er stta0 nat be required to determine the validty or accuracy of any item befare Paying it Nothing in the Oeed W Ttust shall be .✓ ;'�.. :• —
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<br /> ' conshusd as requtAng Lender ta advance other monies tar such purposes,and Lendar stiall rtof tncur any uabNdy tor arrything i1 may do or omR to �• �,�_
<br /> Ao wfth respect to the raserve axounl. All amounts in the r�esenre account are hereby p(edged to turther seeure the Indebfedness,and lender is . . ,_..n,y-
<br /> �t!; ' hereby authorned to withdraw and appty such emourds on t�e tndebtedness upon the oocur:ence of an Event ot OefaulL Lender ShaO not Ee , ,,, `
<br /> • � • requfred to pay arry interest or eamings an the reserve(u+ids uN�s require0 by taw or agreed to by lender in vrtiUng. Lender daes not hofd the ., ����
<br /> . - resenie tunds in trust for Tntstor,and Lender is nol T�ustors agent fct paymsnt oi the te�ces end assessments required to be patd by Ttustor. � ;i;.�_
<br /> p�PENDITURES BY tEtdDER. If Tnutor fa�Ts to compty witb any provision otthis Oeed olTnisl,or Nany aetlon a Oroceeding is commenced tAat, ' . . Y�
<br /> � ' wautd materl�tly aNect Lender's tnterests in!he Properly,Lender cn Trustors bel�aif may.but shall nat be requirad to,take soy acUon ttiat Lender , ��u-:
<br /> �� � deems appropAate.Any amount that Lender expenda in so do(ng w0 bear ittterest at fhe rate provtded fa in the Nots hom the date Ineurted or psld . .. �`�.
<br /> ``� � by Lender to ihe date ot repayment byTn�stor. NI sucb e�enses,atlenders oA�on,wifl (a)be payabt0 on demand. (b)b9 aQQeO to the belance • ,:_
<br /> ?, : ot ihe Nate and be ep0�oned among and be payab(e with any iraffiItment paymenb to becoma due dudn8 either (�me tertn of 8ny apptlr�bte ,,`'�
<br /> r�•l - • . , insurance PoAcy or(fi)the remaining term ot tha Note.a (c)be treated as a belioon paymer�t wh�cA vrlD be dua end peyabte at the Nob's maturftY. . • � 2�_.
<br /> ' This Oeed of Trust eiso will secure paymerA of these amounts. The dghts proNdsd far In tNS paragr+apA shall be tn addi8an to arry othar dghb or arry . ,__,`b�
<br /> remedies to whieh Lender may b0 entiUed on acxount of the QefaulL Any such acUOn by Lender shail not be construed as�urtng the detautt so as to ,,;-
<br /> ' bar Lender hom any cemedy that it Ctherwise would have had. , . ��„�?��
<br /> �� WARpANTV;D�fQASE OF TITLE. Tha foitowing provisions relaUng to ownership of the Properly are a par!of M1s Deed o!TrusL � � �"
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<br /> Titte. Trustor warranis that (a)Tnisbt hotds good and marketable tiba of recorA to the Propertyr in fee s1mpfe.frev an0 dear of a01iens and : .�
<br /> . favot o},f and accepted by.Lender in connnection with thb O�d o Tpnst.and (bj Trustor haa the�ftAl�A t,po err.�and autorily toi�e�cecute and •'(� � "
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<br /> �!�"' � ; Oeliver tpts Oeed ot Trust to Lender.
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<br /> - �; Oe4ense of Tt1ie. Subject ta the exoeptlon tn the paragraph above.Tnsstor warrants end will torever defend the tiVe to the Property agatnst tha . .
<br /> -- lawtul da�ms of all persons. In the eveM any acUon or praeeeding!s commenced Mat questlons Trustor's tiHe or the interest of Trustee a _
<br /> Lender under Ih1�Oeed of Trust,Trustor shall defend the actlon et Trustofs wmense. Tr�tor may be the nomfnaf periy in suCh proceeding,but – •— . -
<br /> ' ' � Lender shatl be entHted to paAidpate in the proceedtng artd to be represented In the proceeding by counsel o}lenders own cholce and •
<br /> � Trustor wi0 deliver,or cause to be deGvered,to Lender such instruments es Lender m8y request irom time to dme to permit such parUCtpBHOn. •
<br /> �. . � Compifance With L.ESwa Trustor wartant5 that the Property and Trustors use of ihe Proparly camplies wfth ell extSUng appGeable taws.
<br /> .. � ordinances.and regutations of govemmental authodtiss. :
<br /> ' � CONDEMNATtON.The foltawing proNsions relaling to conQemna4ton proceedings are a paA of thls Deed of Trust. ,
<br /> � ' Appltcaifon o!Nef Proceeds. It all or any paA of the Property is condemned by emineM domaln proceedings or by eny proceedhtg or .
<br /> pwchase in lieu of condemnation,l.ender may at its etecdon require that aS!or any poNon of the net proceeQs of the award be eppliad to the
<br /> • � Indebtedness or I�e repalr or resloraUOn ot the Property. The net proceeds of ihe awara s�atl mean the award after payment of etl reasona6tA
<br /> • costs.expense9,and ettorneys'(ees Incurred by Trustee or LenOer in connBCUOn wlth the condemnatton. � ' ,
<br /> , Praeeedtngs. If any proceeding in condomnaUon is filed,Trustor shall promplry noUfy LenQer In wrlting,and Trustor shall promptry take such • . �
<br /> , .�� steps as may be necessaryr to defend the acUOn and obtaln the award. Trustor may be the nominal paAy in such proceeding,but Lender sha11 .
<br /> � be entiUed to partic�pate in the proceeding and to be represented in the proceeding by counsei oi its own choice,and Trustor w(II detivet or �
<br /> � • • Cause t0 be deliWred fo Lsndet such Instrumenb 8s may be requesteC by it irOm UmeM tlme to permif suCh panc�lpBUon. .
<br /> IMPOSITION OF TAXBS.FEES AAfD CHARGE9 BY GOVERNMENTAL AUiHOAIT1ES. The fottowing provisions reteUng to govemmental texe9. .. �
<br /> _ • fees end Charges are e p8A of this DeOd Of Trust:
<br /> j Current Taxea.Fees and Charpes. Upon request by Lender,Trustor shall execute Such Cxuments In addiuon to thls DEed ot Trust and talce �. .
<br /> � ' " whatever other acUOn is requesteA by LenQer to pertect and contlnue Lender's Iten on the Resf Properry. Trustor shafi reimburse Lender ier�II � •
<br /> ' " faxes,as described betow, together with all expenses InCUrred in recordtng,perfectlng or conUnuing this Daad of T�us6 InCluding withouf
<br /> ' IimiteUOn atl taxes,faes,dxumentary stamp9,and othe►Charges for recording or reglstedng thi5 Deed ol Trust. �
<br /> • � 4 Taxea Tho foltovring shail consGtute taxes lo whlch this sect�on applles: (aJ a spec(flc tax upon this type ot Deed of Trusl or upon all or any . .
<br />. 7 part of the Indebtedness Secured by this Oeed of Trust: (b)a speclflc tax on Trustor whlcA Trostor�s authorized ot required to deducl from
<br /> •i payments on Ihe Indebtedness secured by this type ot Oeed of Trust; (c)e tex on tNS type of Oeed ol Trust chargeabte agalnst the Lender a .
<br /> '� the holder ol the Note:and (d�a speciflc tex on atl or eny porHan of the Indebtedness or on payments of pdnelps!and Ir�erest made by
<br /> Trustor.
<br /> - - i Subsequent Taxes. if any tax to whiCh this section applies is anacted subsequent to the date o}this Oeed of Yrust,this evant sha►I have ihe
<br /> , same eNect as an Event ol Detault(as defined betow),end Lender may exerciSB any or ell of its availabte remedies tor an Event of Oefault es �
<br /> ', � Ue sd Bc boe end eeposiis w�ih iende eca�h or e:tfi cent co�rpora�e surety bo d o�r otnebsecu iry�s ttsra ory tor�eneer�ova in tho Taxas and � .
<br /> . . .� SECURITY QGREEMENT;FINANCiNG STATEMENTS. The}oltowing provlslons relating lo this Deed of Trust as a security egreement are a part o} f . �
<br /> - Ihis Deed of Trusi. I
<br /> _ j Seturity Agteement. TAis in5lrumeN shall constitute 8 SeCUrity 8greemenl to tAa extent any of 1�0 Property ConslituteS fiMures or other {
<br /> -� � I personat property,and Lender shati i�ava eti c,t ihe riyhis at a secured parlyr undsr the lJnitasm C�m.m.�rclsl Code ss smendQd from Nme ta �__ -
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