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<br /> ' 03-07-1997 DEED OF'TRUST Page 3 ; � � � ,�_:
<br /> ' Loan No 430fi99 (Continued) �7-+ ��P��� � . , . _
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<br /> , • prpggrly Tnistor shaD tua.e Lender as an QddiUOnai obP.�oo undEr any swety bond htmbRed in the conte5t proCes�nBs. ��' ' '
<br /> �vi�n�o?p�yro�nt. TrW2or shaU upon demand fumisb to Lender satisfaGOry ev�Cartce of paymsnt of the texes or assessmants and snall ' , ..'Y
<br /> guthprize iho a.ppropctate qo•tommontal ofHCtal to dsliver to Lsnder a18ny time a written statemsnt ot the taxes anC assessments agalnst trt9 � ;�
<br /> A1��of Ce1nE�ttlte4i�n.Ttustor sha0 notiy Lender at tesst fifteen(15)days betore any wcrk�S commenced,eny 59Mt�s are fumshed,ar any � �;°
<br /> mateAa�8re SttP6lfed to the PrapeRy. (f 8ny mechank's�len, materlalm9n's Iten,or other Gen Could be asser�ed on eocount ot tho work. ,
<br /> r,ervl�s.pr matartaFs. Trustor wi9 upon requ0s!of Lender fianish to Lender edvance essurances setistaclory to Lender tnat Trustor can and wi�l
<br /> � pay the eosl af such tmprovamanfi. . ..
<br /> PROQSiT1P DAMAGE tN°�liiANC�.Tha to�owing prov�slons retating to insuring the Props+ly are a paA of this Deed of Trusl. •
<br /> -= M�G�tNnee of Iniur�nCe. Trustot shalf procuro and�ntaln pa4�cies of fus hsst�anco v+i1h slands►d extendgd covera9s endorsements on a :_ .
<br /> p ha
<br /> ' repiacement bssts for the tull iruuivabla va�ue covering atl tmprovements on the Real Proporty in an amount sufAdent to avoid appiica5on of eny .
<br /> �r��t�e q guse,8nd y�ItA a st&ndtud moRgagsa dause in tavor of Lendsr,together with such other hezard 8nd Iiability insurance as Lender � �
<br /> � mgy taesanqbly req�18. PoUdes SBBU bo wriiten i�to�.amounts,eoverages e+�d basis raasonabhr¢xepUib�e to Lender and issuad Dy a
<br /> �p�aty a�pmpaN�rgaspnapty acoeptabte to Lender. Trustor,upon request of Lender,uuill deliver to Lender irom time to time the potides ;
<br /> or cartlHcates of tnsurana�(orm sat�ctwY to Lender.indud�ng sUputations that eoverages wiu not be canoet�ed or dimiNshed withoul at `� :t.
<br /> Isest ten(10)days'pAor wAtten notke to Lsnder. Each insurFtnce Poflcy elso shatl indude an enCOrs9mertt provlding that coverage in tavor of � _ �
<br /> Lender wID not be impeired In arty way by any ad.omissfon or defaWt of Trustor or any othgr person. SfioutO the Rsa�PrcAeM et eny time �
<br /> b9COme locatad in an azea deslgnaled by the Oirector ot the Federal EmergenCy Management Agency as a spedai flood harerd srea,Trustor _
<br /> � � agtees to Obtetn end melM8in Federat Flood InSUrHnCe tor the fu0 unpaid prirtCipal trFtisnce ot Ue loan,up to the mexlum policy Gmits set under � _
<br /> �} ttfe NWpnil Rppd�ns�e prp�iiro,cr as otherwise required by Lender,er,d to ma�ntein such insurance ta the term of the loan. • , .
<br /> 1 Ayypqs{on p}prpce�cta,Trustor stiaD prompUy notity tender ot any loss or damage to the PropeAy. Lender may make proof af loss ii Trustar �
<br /> fa�2s to QO s0 witNn fiReen(t�days Ot the casuetty Whether or no1 Lenders securiry is�mpaired,Lender may,at its eledion,r6ceive and��� . _
<br /> , �a��,p}g�y�r��r�rwe and appty ihs proceeds to the reduction of the Indebtedne.�,payment of any lien aNeding the Property,or the � , , '_
<br /> �e s i o r a ti o n a n d[e p a i r a11he Pro P e r i y If t-ender elects to appty the proceeds to restoration and repair.Trwtor shail repair or raAlace the ���
<br /> damay�d or desUoyed Improvements tn a ma��a�satistaaory to�ender. Lender s h a i l,upon sa ti s f a do ry p r o o f o f s u c h e x p e n d i t u r e.p a Y o� � •. , �.
<br /> reimbursa Tnuta irom tt�a proce6ds tor the reasonab�e cost of repair or restcra6on if Trustor ts not in deisuft unQer this Deed ot Tn�si. AnY ! ' %•• � �t�
<br /> procee�wNch hav'd not Ce3n disburssd vdthin 180 Qays after fhair reoeipt and which Lender has not committed to lhe repalr or restoration of . • •
<br /> tiw prpparrty shpp 1�e uspd fusl to pay any emount awinp to Lendar under this Deed of Tnu�then to pay acaued interast,and the remairtder,if � ,
<br /> . enq,sl�aH be aapGed to tAe pdncfpzl bslana3 af the Indebtadrtess. If Lender hotds any praceeds after paymant in tu0 of the Indebtedness.such , = : ��, .'i
<br /> , proceeds sh�De pald to Tnuta as Tncsta s interesis maY ePPear• . ` �f�°.'�
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<br /> � Une�Ued Insuranee d Sa�a. My une�tred insurance Shall inure to tha benefit of,end pass lo,the purchaser o f t h e P rope R y covere d b y t h i s , ,* .'-
<br /> Oeed of Tnut ef any trustee's safe or other sate hetd undzr the provtsions of this Deed of Trust,or at any toredosure sale ot such Property. { � ,.< �° :,�,. -
<br /> Comppic�oe witA E]dattny Ia6Eb2edness. During the period in which a�ry E�dsting tndebtedness described betow is in eNeet,compliance wiih I � . ��-,�':1�
<br /> the 6SSUrenCe Pt0lf�ia�Contafned in the in50rume�evfdenang suct�E�dsdng InQebtedness shall COnstitute complianCe witTi ihe insuranca • • ��_ �.±i. .
<br /> provf5lons under th�Deed ot Tnut,to the e�dem compGance wilh the terms of this Oeed of Trus!woutd constitute a duplicatlon of insurance
<br /> �.� requirgmenl. If 8ny proeeeds from the insurance become pay8bte on toss,the provisfons i�lhis Deed of Trust tor division of proceeds shail • :,;��
<br /> apply onry to lhat pa+fion of the ptoceeds not payabte to the holder of the E�dsting Indebtedness. �•E
<br /> p�ENDi�'I�iEg Blf LEI�EA. it Trustor fa(Is to tomply with any provision oi th(s Oeed of Tnut, induding any obligation to mafntain 6dstinp ` ; _
<br /> [ndebLadnass in po0d s�nfrng as requtre0 betow.or M arry action or proceeding is commenced that wouit!materialry af(ect Lenders interests�n the '�a
<br /> Property,L�nder on Trustor's behalf may,bulShaU not be raquired to,take any sction thai Lender deems appropriate. Am+amount that Lender �:.:• , y�'�"�� .,�
<br /> � e�en�In so dWny wlll bmr Inierest at the rate provltted for in the Note from Ihe date incurred or paid by lendor to ttse das of repayment by �
<br /> T n a t o r. A Y s u C h a�e�u e�s.a t L o n 6 e r s o p U a n,w 0 1 (a)b e p a y a b l e o n d e m a n d. (b)b e a d d ed t o the balance o2 the Note and t�s apportioned among �. � �`� '�": �i'
<br /> and be paytbte with ury tnsbdrtiertt paymenb lo become due durinp eithar p)the term of anY ayDUCaDie i�surance P�Y� (�q the�e m a i Nnp t e r m � �.}�
<br /> • ' 01 tAti Nate,a (c)ba treated as a batloon paymer�whlct+wi��be dus and payeble at the Note's matudty. This Dead of Tnist also wu1 secure . "�=:1E .
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<br /> payrtwnt Ot Uwse am0urrts.The dphts provlded for in this para�raPh ShaU be In addiUOn to any other rlghts or any remedies to wh3ch LendOr may be I:.��� - ���y�'
<br /> eritltNdDn xcaun�Otthe Qefaulf. My suCh aetlon by Lender snatl not be conswee as Cunng the oetault so as to bar lender hom any remedy that - -- ;- �;�?�C�.' ' ,_
<br /> ft otherwiss wouid have had �r ,
<br /> ' yy�;�¢�igE pF TITLE, The(oliowirsg provFSions reiating to owne�SAip of the Proparty are a part of this Deed of Tnut. _ • ����-
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<br /> Titk. Tn�stor wartar►ts lhat (a)Trustor holds gooA and marketable tiUe ot record to Ihe Property in feB simple,free and ctear ot aU Gens and �,': � ___
<br /> �CUtnpranC�s othet lryan thpsg 58!fOtth In the Reat Property descrfpUon or in the Existing Indebtedness secUOn below or in any tiIIe insurance •r � y
<br /> � ppycy,tltfg repprt,or flnal Eite opinton issued in favor o1,and axepted by.Lender In connection with this Qead of Trus1,Bntl (b)Trustor has Me • . ,,��`�
<br /> tu7 dpht,power.an d a�t��r i t y to e�a t t e a n d deGver tMs Os9d o1 Trust to Lender.
<br /> pif�fs�p/Tiye, $upject tp 1ha eocoopUon in the P�aph above.Trustor wartanb and wt11 forever defend the title to the Property apainst the }�
<br /> {Qwg/ciafny q�p pasons. In thY ovoM any acflon or proceedinQ is commenced lha!questions Trustars titte or ttw interesl ot Tnu!e0 or ���„r��
<br /> l,�nd�t und�r UYS Dead oi Trust.TNStor shM detsnd tt�e acUOn at Trustofs expense. Trustar may be the r�ominai party�n such proceoCing.but
<br /> � l,sndM iry�y ba,a�tled to ptrtk�pate in fhe prpceedin8 fsnd to be represented in tAe praceeding by wunsel of Lenda�s own cho`.ce,and • � •
<br /> rtk Rate
<br /> qrus�yidp deYuer.or cause to bo dattverad.to Lender such InsWments as Lender may raquesl from Ume to Ume to p�rmii such partkipatian. ''. � .
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<br /> CompB�ne�Wfth Laws. Tnistor warrants that tho ProyeAy and Trustors use of the Property compties with a0 e�csYlnp apAlk�ble Iaws, ��� , ____;�;
<br /> ' udnonoa�.and repulaUons of povommen4�authoriUes. �
<br /> p��g�p�a��p�g, 71fe foUowfn�provlslorts Conoerning e�dstlng tndebtedness(the'F�dsUng IndeDtedness'are e paA o!this D�ed ol � �. �__
<br /> Trust . . _
<br /> pd�lklp L,{�p. 1Tw pen a!thls Deed ot Trust s9cudng the Indebtedness mey be secondary and interlor to en exisUnp Iten. Trusta e�ressiy � . ^� •
<br /> • undlt ttw Instrur�nen�i wtdoynWn9 such Indebtedness.or any d faryuglt�undebr any secu�tdopCUments tor seisch InOebteQnass.btedness.any delaull . .. --
<br /> O�htYt. If the payment of fltry ins181lment of pdndp8f or any interest on the Existing Indebt80ness is not made withln the time requlred by the ' .
<br /> aola Mdendnp such Indebtedness,or sh0uid e defflull oCCUr under the instntment SeCUrinp suCh Indebtedness 8nd nof be Cured during 8ny , .
<br /> a�nd�j�abp�,Md t�Deed of Trust SheD be Inpdetautl.�nder,the Indebtedness secured by Ihis Deed of Trus1 sheil become Immedia:ery duB . �
<br /> � 11p Ntp�Aeation. TrustOr sheN nol8nter into eny eg�eemeni with the hotder ot eny mortgage,deed of trust,a other secudty apraement whieh �
<br /> ha!prlprBy Over this Oaed of Tn1st by whicA that ayreement ls modifled,amended,extendeG,or renewed without th0 priot wrNten consent of
<br /> L.endar. Twtor Shail neithar request na 8eocapl any tuture advences under any such security agreement without lhe prior written conseM ol �-
<br /> lender.
<br /> CONDEJANATION.The foltowlnp provisions relaUng to condsmnallon proceedings are a part ot this Deed of Trust. � —
<br /> Appi{C�tbn 01 NEt ProeEtds. If elf or any patt ot the Property is condemned by eminenl domain ptoceedinps or by any proeeeding or �
<br /> p�i��+�o���Uo�n,�n�der�m��D��rne net'pr�oceeds ot he awatd sheli mean�ihe a�warad afteh payment of all re'aso 8bte .� -
<br /> Cost9.e�at�s,and nttornoys'feos incurted by Trusteo or Le�dsr in ConnecUon wNh t�s condemnatlon.
<br /> PtpCaW(nsl. If a+ry proceedinp in conQemnaUon Is fited,Trustor shatl prompt►y notiry Lender in writing,and Trustor shall promptry take suc� • . . '
<br /> steps ts m8y be aeCessary!o detend tho acNOn and obtein the award. Trustor may be the nominal parly in such proce�ading,but Lender shell i. • .
<br /> Oa OntitiBd ta psitlC!pate in the proC88ding and to be represented In the proceotling by Counsel of its own choiCe,end TrustOr wfll detiver or . • _
<br /> cguse!O be deliverod fo Lend6r such Instruments as maY be requested by d from time to time to permit such partictipaUon. �
<br /> � �Mp,flSlTtpl�!pP TA%E$�FEES AND CHARGES BY GOVERNFAEF�TAL AUTKORiTtES. The lo!lowing provislons retating to governmentel taxes, '� . : :
<br /> tees and charpss ere o pnA of thls Oesd ot TNSt:
<br /> Curtent Tues,Feea end Char�ee. Upon requ65i by Lender,Trustor shail execute Such dacuments in add�GOn fo this Deed of Trust and take
<br /> whatsver other BcBon is requasted by lendsr to pedECt end continue lender's lien on the Rea1 Propedy. Trusror shatl reimburse Lender for all � .
<br /> te�ceg,as dyscribed be►ow,topelher wilh aA¢�enses incurted In recotding, poAecUng or conUnu�ng this Daed of Trust,inctuding withaN .
<br /> � QMtatlon e�taxes,fees,OoCUmentary stamps,an�olher eharges for recording or registering thls Oeed of Tnut. �
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<br /> � y�, _-�{��,{,-�$;,y;J cortihsta!�!a•�!�!i lss�`.^CL'Dn sflpLes' {g!e sAeC'�C�Y uoan Ihis tyQe of 08ed of Trust or upOn ail or any —
<br /> part of the Indebtednpss SeCUted by thls Deed of Trust; (b)a specifie tex on Trustor which Trustor is at/t�orl7�d trr rlguired to deduct hom
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