|
.. ..:._� ' _ . _ '.l. .:.i
<br /> '���" �
<br /> .. . ....�- �_� . ,_ _ _ _ _
<br /> -f:: ,� . • , f--- - --;- -�� . - - -- — .—._ - - - a .
<br /> . •� t � �.� a = t _ . , . . -- `` ' _ : ' �. � �•_ . �
<br /> .� . . 'a_ ._ - . ---a . . .. ..- r , . . . . • ... _ , - ,_ - _ + ;_..=sFi,._ c - -
<br />� �, - .etr': _._��_.�__.__..`._._ - ---�-'---_-•. . _. _ _ . _.._• ---._ .�.. ..�_.� �_..—..�-�� . . �<c <?`
<br /> • a �
<br /> . ` � DEED O�F TPt11�T =(� � `
<br /> - j 03-12-1998 9�.... ��'r��� Psge 3 ' r...��
<br /> . : , . i Loan t�o 672386 (CoMinuetD) .
<br /> i �=. ,:
<br /> , . � amoa�A 5uf6Cien!t0 d�h8t$91AB Ilea plus any Casis and attarney�t89S or ather CherBes that eoutd axrue as 8 reSWt Of a taedostuB or seie
<br /> � " unQer the I�en. in arry co�t,7n�tar shail Eefend[iself end Lender and shall satlsty attY adverse ludgme�betac�entacemecd egsh�st the .
<br /> s
<br /> " ProDe�Y.Tnistor sha0 name Lender a5 an add�tlanal abiigee under anY suretY bortd itan�shed in tAe coc►test D�eed'ings. ' '
<br /> �• Evldanee o4 Pay+nen� Tn�stor shsil upan demand fumsb to lender�ory evidence al paymen!of the�S a essessmer�and shaD . •
<br /> " , • • authar(ze tne eAproPdate govammer�ffif offtcisl to ddiver to Lender e!any Ume a wrltten statement of!ha taxes and esse�merds agatr�st the .
<br /> . �a�. �
<br /> T �.t� Notloe of ConsVucttcn. Tr�star sheD nofiy Lendar at teast fifteen(1�days 6etore any wark is cammenced.eny seMess ere tumished.or arry ., � '
<br /> mateiiais are suppGed M the Property.if any mechantBs Gen,materfaimen's Gen,or other lien coutd be asserUad on axoun!of Ihe vrork,
<br /> ;, , servloas,or matedats. 7ntstor vnU upon reQuest of i.ender tum(sh to Lender aQvance essurances saUStactory to Lender that Trustor can and win ; .
<br /> , . ..: �,� pay the cost af such improvements. , _
<br /> - — PROC8i1V Dl1l�dGE I�Al3CE.Th3 foUot�provl5ion5 relabn8 to Ulsurtng the PmpeAy ere 8 paA of ihis Oeed of Trust. __
<br /> : � , � . , MatrKenanee uf Insurenc� Tnutar shaU pracura end maintaln polird�ot fae insuranoe wHh standard e�Qended coverage andotsemer�an s • _ .
<br /> , replacemerh besis tor the fi�insiaabie vaieta covedng aD Improvements on the Real Propsdy(n an amount sufficlent to avold applICafion ot e1ry
<br /> � '" i coinsuranoe ctause.and wilh e sffindard maRgagee ctause in favar of Lende�r.togeUier with such other harard and Gab�ilY U�suranoe as Lender
<br /> " may reasonaLh�[equlre. Palides shalt be vieiHen in tarm.emoucds,covarages and basTs reasonabty aoceptabte to Lender and issued by s •
<br /> -` � . ' •.� companf►or companies ce�armflN exePtabta to Lendet. Tntstar.Won cequest af Lendet.wU deAver to Lender from 6me to 5rrte Ehe DoLd� _ '`.:",-
<br /> or certific�es of U�uance in tartn saf�factory to Lend�.lndud�ng s$DulaUOns that coverages w�not be canceUed or Etminished withoui at .. <�` :
<br /> = 1east ten(�0)dayr.�pdos written notfce to Lender. EacA inswance poli�y e15o shall indude an endorsemeni provtQtng that coverage tn tavar ot - _: :.--
<br /> - • LenQer wiu not be ImDaired fn erry way bY airy acR omCsston or defaufi ai Tiustor or arry otl�person. Should the Resi Property a1 eoY 6me . �.�.
<br /> .•, become Iocated in en ares designated by the Otrector of fhe Federrai Emergeney Maaageme�AgenaY es a spec(al ftaad ha�rd area.Tnutor � ,
<br /> t� , . �yrees to obtain and met�in Federel Flood Ir�urance tor the fu0 ur�patd prMdpel balanoe ot fhe laen.uP to the m�dmum pniicy Qmfts set . ;�-�. '
<br /> -� � under the Nallonal Fload(nsurance Progratn,w as othervdse re9uired by Lender,and to maintein such Insurance tor the tertn ot the loan. . . %.-:�.
<br />:;1, , . , '..j_: k .
<br /> ;.•.: • Appltcatlon of Proceeda Tnutor shatl promptry notity Lender o!any lass ar damage to the Property. Lender may meke proaf of Ioss UTn�stor :,'�•�-
<br /> faiLs to do so within fifteen(t5)days ot the casualty. Wheiher or rtot Lenders security is impaired.Lender may,at its e[ectian,teceive and retain , ,. :,;
<br /> r the proceeds of arry insuranca and appy the praceeQs to the reduclion of tha Indebtedrtess,payment ot arry tien aHactlng the PropeRy,or the .
<br /> ,.� , r�toraUon and repair ot ihe Propmry. lt LenQer ete�to apPry the proceeds to r�toratlon and repair.Trustor sAall repair m teplace the `.;�-
<br />- � damaged ar desaoYed�mprovements In a manner satlssfactory to Lender. Lender sha0,upan sa�siactory proat ot such e�end'i4ue,pay or � . :f_;_-..,:
<br /> 8
<br />;��. • reim4urse 7n�stor from the praceeds tor the reasonabte cast of repair or restoTation if Trustor Is not in deisuft under this Deed of Trust..Any ` ��,: .=
<br /> ep '.
<br /> � = proceeds whtcb have not been dLsbursed within 180 days aHmr thelr receipi and whieh lsnder has nW com�to the repefr or restora8on ot � . '`=�=
<br /> , �' the Properly shail be used first to pay erry amourtt awfng to Lender under this Desd of Tn�st,then ta pay acaued iaterest,and the remainder.(f � '�� "''�=°
<br /> - -�i =-:.
<br /> - � any,shail be appned to the prindpal beiance of the Indebtedness. Ii Lender hotds a�ry proceeds after payment in fuA ot the Irsdebtedness,such , . ��:-�
<br /> proceeds shall be paid to Trustor es Tn�tot's interests may appear. � �� '-�—
<br />_�,-, � Une�[phea insuranee at Sefe. My une�ired insurance shall inure to the benefii of,and pass to.the purchaser ot the Property covered by this .� ���y._
<br /> Desd of Trust at any fnistees saie or other sate hetd under the provisions of this Deed of Tnut,or at any faradosure sels otsuch Property. • �' ;_:��
<br /> .� _+i - --
<br /> EXPEImiTURE3 6Y LENifER. If Trustor}afts to compty with acry provisfon ot thts Deed o!Tnat.a if any acUon ar proceeding is commenced tha! � : `,�t:'—=
<br /> � ' would matedatly aNect Lenders interesfs in the Property,Lender on Trustors behatf may,but shall not be reqWred to,take any acHon that Lender � � -'�=�.
<br /> � deems appropriate. My amour�that lender expends in so doing wilt bear(nterest at tha rate provided far in the Note trom the date inamed or paid ' - �
<br /> �,` by Lender to the date of repayment by Trustor. All such exper�ses,et Lenders optlon,wiU (a)be payabte on demand, (b)be aQded to the batartce y``� ''�=-�-
<br /> . .. .s°:�'-°-
<br /> � oi the Nota and be eppordoned emong and be payabie with any fnstatlmenl payments to become du0 during either (i)the term ot arry appiicabte � ::�._
<br /> ns a
<br /> • insurartoe policy or (�i)the reme(ning term ot the Note.or (c)be treated as a balloon payment which w7116e due and payabie 8t the Note's maturity. , i{�'-
<br /> � This Deed W Trust atso w�71 secure payment of these amounis. The Aghts provided ior in this paiagreph shall 6e in add�ton to any other rights or any , .`. '. =_.
<br /> � remeGies to which I.ender may be enUUed on account of the defaulL My suCh aCBon by Lender shall not be construed es curing the defalill$o as to , � : '��
<br /> ' , bar Lender from any remedy that it otherwise would have had. "��� '�
<br /> " •,,�..
<br /> � YJAAAAt7TY;DEFEHSB OF TIiLE.The fo0owtng prowsions relstlng to ownersfiip of the Propertyr are a paA of this Deed of Tiust. � ' � � ,�`�
<br />_•b, . . .
<br /> ' TIUe. Trustor wartants that (a)Tnrslor Aotds good and marketabte tiUe ot recard to the i'roperty tn lee slmpte,iree and dear ot ap Uens and , �_ ' .���
<br /> : ' , � encumbranc�otfier than those set torth in the Real Property Oescrtp�on or in eny tlUe insurance poflcy,tille repoA,or flrtai tlUe opinton ts9ued in . ».
<br /> � .� ffivor of.and acceptad by,Lender in connecUOn with this Deed ot Trusf,and (b)Ttustor has the fu0 dgh�powet.and authodry to execute and •- �
<br /> � � del'iver this Qeed of T�uSi to Lender. . r,.`.'�i-:
<br /> • Detec�se of Titte. Subjecl to the excep4an in the paragrapfi above,Tnistor warrarNs and will torever defend the tiUe to the PropeAy ttgatrut the , � '„�•,�
<br />- tawtul claims of ail persons. �n the event arry acUOn or proceeding is commence0 thaf qussttons Trustofs tltte or the interest of Trustee ar ;r:;;';,
<br /> � � Leader under this Oeed ot Trust,Trustor shall Qefend the acUon at Trustors e�ense.Trustor may be the nomina)party In suCh proceedtng,bul -
<br /> � ' Lender shall be entitled to pa�tiGpate in the proceeding and to be represente0 in the proceeding by counsel ot LenQers own c�oioe.and . ' �''�
<br /> �,r: Trustor wili deliver,or cause to be delivered.to Lender such instruments as Lender may request from time to Ume to pertn8 such paRidpatlOn. -
<br /> . Comp�anea WftN Lavis. Trustor werraats that the Properly and Trustor's use ot the PiroAerty complies with all exlsUng eppiicabte laws. • • . -
<br /> � � ordfianc�.and regutations oi govemmentel autAOd6es. •
<br /> CONOEMNATION. The foilowing provlsions retaUng to condemnatlon proceedings are a D�of tNs Deed ot Trust. � •• � �-
<br /> _ �� .! Appfieallon of Ne!Ptoeeeds. II ail or any part oi the Property is cond�emned by eminent domain proceeNngs or by any prooeeding or � � .
<br /> ' . � . purchase in lieu o}condemnatlon,Lender may at ifs elecHon requhe tAa!all or eny poNon ot the net procaeds ot tha award be epp0ed to!h9
<br /> � Indebtedness or the repatr or restoraUOn o!the Property. The nei proceeCs oi tha award sheli mean the 8werd aftet payment of all reasonable �
<br />• i cosis,expenses,and attorneys'tees incuned by Trustee or Lender in connection wlih the condemnaUon. . ,
<br /> PtoCeedings. It any proceeding in condemnatlon is fifed,Ttustor shall prompfty nofify Lender In writing,and Trustor shail promplty tako such - � , �. ..
<br /> • • steps as may be necessary to detend the actlon and obtaln the award. Trustor may be the nominal party in such proceeding,but lender shall . • .
<br /> be entitled to paNCipate in the proceeding end to be represented in the proceeding by counsel o}its own cholce,and Trustor wlll Qefiver or - •
<br /> cause to be delivered to Lender such inshuments as may be requested by ft hom dme to time to permit suCh partidpatlon. .• .
<br /> IMPOSITtOt�OC TAl(ES.FEES AND CMARGES BY GOVERNMENTAL AUTF{aDRIT1ES. The foilowing provislons�etating to govemmentel fa�ces. • _ •
<br /> ' ? • tees end cherge5 are a part o!this Deed of Trusk
<br /> ��, �' Current Tmtea,Fees and Chergea. Upon request by Lender,Trustor shalf execute sucb documents In addiUOn to fhls Oeed o1 Trust and tatce � , .
<br /> . i whatever othar acltan is requested by Lender fo perfeat and conU�ue Lender's lien on the Real RropeAy. Tnutor shall reimburse Lender fa eU . .
<br /> taxes.as Qascribed betow,together with ail expenses Incurred in recordtng,peAecUng or eontlnWng this Deed of Trust.inciuding withouf .
<br /> � IlmitaUon aU taxes,(ess,dceumentary stamps.and other chatges for recordtng or registedng this Deaa ot Trus�t.
<br />- ( Tm�es. The talfOwing shall constilute taxes to whlch this secUOn applles: (a)a specifle tax upon this lype ot Deed ol Trust ar upon all or any �
<br /> • i paA of the Indebtedness secured by this�eed af Trusi; (b)a spoclflc tax on T�ustor which Trustar is authorized or required to deduct hom
<br /> � 'i payments on the indebtednass secured by tht�{ype of Oeed ot Trusf; (a)a lax on lhis type of Desd of Trust chargeable egainst the Lender or � .
<br /> , ; the hotder o}the Note:and (d)a spociftc tax on a11 or any pordon ot the Indebtadness or on payments of principal and interest made by
<br /> � Trustor. "
<br /> � , • � Subsequent Taxes. It any tax io whlch this section eppues Is enaCted subseque�t to the date ot thls Dead of Trust,thls event Shail have Ihe
<br /> " � same eHect as an Even!of Defau�l(as dofined be�ow),end Lender may exercise any or all of its availabie remetlies tor an Event ot Oefauit as
<br /> ' : � provided below unlsss Trustor edher (a)pays the lax belore it becomss dellnqueM,or (b)contests ihe tax as provlded above In the Taxes and • -
<br /> • Uens sectlon and depo5its with Lender cash or a sutficlent corporate surety bOnd or other security satisfactory to Lsnder.
<br /> 1�, � ,
<br /> SECURITY At3REEMENT;FINANCINO STATEMENTS. The�ollowing provlsions relating to this Deed o1 Trust as a security agr0ement are a pert o}
<br /> this Oeed Of Trosi. ' .
<br /> • � Seeurity Agre@meM. This instrument shatt constRUte a secudty agreement to the extertt any of the Property Constitutes fixtures a other �
<br /> . � • • personat propetty,end Lender shall have all of the rights of a secured parly under the Uni(orm Commerelal Code As amendad from tlme to �
<br /> . umo. .
<br /> SECUrity Interest. Upon request by Lender,Trustor shail execute flnancing s►atements and lake whatever ofher action is requested by Lender �
<br /> � to pertect and continue Lender's securiry interest in the Rents and Personai Properry. tn BddiUon to recording this Deed of Trust in the real
<br /> . ', property records.Lender may,at any lime end without}uAher euthorization from Trustor,fite e�cecuted counterparts,copies or reproQuctions oi .
<br /> Ihis Oeed o1 Trust as a finanang stEllemenl. Trusfor s�all reimburse Lender lor all e�enses incurred in peAecting or continuing thls seCUrity
<br /> .. `
<br /> ----�� '� � � ��BrBSf. Upun dbidu�i.7r�star st:a::a,serrsbalh.o Pcretui�!PrCpcsr�in tt rttan�e�fl^d et�p�ace�eaeonably conventeni to Trustor 8nd Lender • , -
<br /> M • .
<br /> � . ' �---- _- .' _
<br /> `e � � . . �' y, . -- — ,
<br /> .. :i,- '� e- ��-�'.r. �i'_ ' t. ' ' • . . .: -. .-., .. _ a:� .r..
<br /> �-�,�.. ' . _ ., - ` . �' ', .. •' a'�. - _ - d.. � �i.�a.. �- �a..�: ° ..s.. .. ,..
<br /> --.'a•_i= i _ ,.t•..'� �a .. - �� t +i.1_s_3___.�-'��+-�=.k3��;4�-'�k�-7i��'r�34�-�_�Ar"�+Y-�.,—?;__'�r..� �'-• . ..Si .`�-: z `i-3- roa'�;�+ . :1s�7-vs:�.�' � i7SS^"4. {' ���'--_
<br />..z_.,.:' . .
<br /> ••__.�__.._ �.. �:�',
<br /> .• ..-�' 9'!IP£�'�1�n�1* - • w A-Y�'+�!]a1MflY(1�WdT+�l�fiM7i:
<br /> . �---.^',��-_�'��'9'�'".8:.�_�.•? ..�.�}� �s�.;:�d.�r-�—�=��..�.iTr_��^— �1—�:�L'- �r--��. ,� ... ..-- -ti. _-, �:-��t::�......... .... ......._ ., _ �. ..
<br />
|