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<br /> � � � DE�D OF TRUST Pags 3 �, ' '�`�
<br /> �3-24-199
<br /> " Loan No 4�Q965 (Cor�tlnuet� ��� ���r�a3 ` . =_�
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<br /> ' Paymen4 Trustor shef!pay when dus►(and in aU evarris prtor to de6nquancyr)eB texss.spedal t�ss.es�.sssments�charyos(indudin9 water �
<br /> ' and sewer�ftnes and imposHions lavled agafnst ar on aeeount of the Property,and shaU pay when due a�clalms for work dona on or tor o
<br /> serv�es rendered or materiai fumtshed to the Ptoperly. Tntstw shall mafntstn the PropeAy fi'ee of a!i lans havinq p�tority over or equal to tho � '+
<br /> interest of Lender und9r thfs Deed at Trust,excepf tor the Usn ot taxes and assessmertts not due,ez�apt for tho e�dstlnp indebledness retened . .
<br /> to betow,ared except as otherwise provided in Uds Dead of Trt+st. i
<br /> FilS/►1 YO ConteaL Trustot rttay wfthhold payrtsent o!eny ta�c.bssessmant,ar ctslm in conn�eHon with a good fafth d'spute over the obfiBaUan �=
<br /> ro PsY,so long as Lenders(nterest fn the Froperty ts nat jeopar�iZed. If a�en arises or ts fited es a resutt of nor�paymer�,Yrusta shaD wfthin .
<br /> fiReen(1�days efter the lien a�ises or,it e Gen is filed,witfdn frftesn(15}days after Trusta has noSce ot ths filinp,secure ihe dlscharqe of th� -,
<br /> ! tien,ar if requested by Lender,depo5it with Lender Cesh or a sufficter�t corporate surety bond or other s2curity satissfadory to Lendgr in an . ,
<br /> { amount suffctent to dfseharg0 the Iten plus a�rry costs and attomeys'fees ar other ch2rQas that coutd aaxtse as a r�ult of a foredosure or sale
<br /> ` ttndet the Ifan. In any contest,Tn�stor shell defend il5slt and Lentler entl Shetl sat�sty any atfvarse judqment beTore enforcemant epainst the
<br /> Property.Trusiar shall neme Lender tis an addrtionai a6Uyse under arry surety bond lumishsd in the coMes4 procesdings. ��
<br /> � Evldaneo ot Paylment Tnutor shalt upon demend Iumish to Lender satisfactory eviQencA of payment of the taxes ar essessrt�ents and shaU
<br /> authoriza the aPG�P��8ovemmeniel oNtdal to deGver to Lender et any time a wdtten statement of ihe tanss and assessments against the __
<br /> ' , P►operty. ,
<br /> Not{ee oi Cot�Eblietlon. Tnstor shatl notiiy Lender at Ieast fifteen(1S7 days bafore any work is commer�ced,eny servkes are tumished,or any , �
<br /> materials are supplted to the Property,if arry mechanic's t�en,materiatmen's lien,or other Gen coWd ba assertad on aa:ount of the work, ,
<br /> serv:ces,or met6rials. Trustor will upon requast of Lender fumish to Lendet advante assurances sattstectory to Lender thai Tnistor can and vn11 ; • ' .
<br /> pay the cost of such improvements. � , � " , -;;it%�.
<br /> PROPER7Y OANIAGE YHSltRARit�.Tha follovdrty provisions retaftrtg to insurtng ths Property are a part of thls Oeed of Trusf. =
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<br /> t+Wntens�oe o}trotua�. Tru,tor shaU procine and maintaln poocies of fire(nsurance with sffind�ard extended cowerape enQorsemerds on a ` ' •
<br /> repiaoemer�t basEs for thA fup insurable vatue ca++erinp ait Improvements on the Real Praperty in an amouni suKidant to avdd appficailon of anY ; , . . ,.4
<br /> co(r►surance dause.and with a standard morty�pse dause in tava of lender,topefher w8h such other ha�rd and NabUity insuranoa as Lender i • .
<br /> may reasonabry requtra. Pdlcies shali be written in farm,amounis,coverepes and besls reasonabty aocepffible to Lender and issued by a � -
<br /> comparry or companfes reasonabry accepffibte to Lender. Tnistor,upon request of Lender,wiU deliver to Lender from Ume to Ume fhe poi�u�OS ;
<br /> or esrtiflcates ot insuranoe in fortn satlsfactory to Lender.indudin�stlPula6ans that coverages wN no!be canoe0ed or dmtn�hed without at � -
<br /> ' least ten(10)days'prior w�tten no�ce to Lender. Esch insurance pollcy atso shan indude an endorsement provldiny that coverape in tavor of '' ~. �s�-
<br /> Lender w�l not be impalred(n arry way by any ad omission or defauft of Trustor or arty other persan. Should t1w Rea1 PropoAy at nny 4me i � . . :-
<br /> � become lacated tn an area desTanated by the Oiractar of the FeQeral Eme�gency Manayemer�t Apency as a specW flood harerd ere�,Trusta �• . ' �
<br /> ayrees to obfsin and maintaln Federai Flood tr�surance for the fu11 unpald pdnci�pal batnnce ot the loan,up to the maxium po6cyl Qm[ts set uader � ' .5�;;��
<br /> � � the Nattonal Flood lnsur�ance Proeram,or as otherwise requhed by Lender,and to malntain such Ir�surance tor the term ot fhe loan. � • ?—
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<br /> ApptlpUOn of ProeeMs. Trustor 5ha11 prampUy noUty Lender of arry loss or damage to the Properly- Lender may make proof of loss H Trustor � ��:,
<br /> " faits tn do so withln fifteen(1�days of the casuelty. YYhether or not Lenders secudty Ls tmpa�ed,Lender may,at tts e�ectlon,receive and retain < i ,..,:-
<br /> ' the proceads ot 8ny insurence and apply the procseds to the reducUon of the Indebtedness,payment of eny Iien affecfiny the Property,or the • •�;_;:::;� e ,
<br /> restora9on and repafr o}lri�Property. If Lender e!ads to apDly the pcooeeds to re�to►abon and repait.Ttustor shall re�atr or replace the ( .. `� � : °
<br /> damaQed or deshoyed Improvements in a manner saUslactory to Lender. Lender shall,upon saHsfactory proof ot such expenditure,pay or I `
<br /> r e i m burse T r u s tor fr om t h e p r a c e e d s f o r t h e r e a s o n a b l e c o s t o f r e p a i r o r re s t o r a tl o n t!T n i s t a r i s n u t i n d e f a u i t u n d a r t h i s O e e d o t T n i s t. A n y � . .�,
<br /> p r o c e e d s w h i c h h a v e n o t b e e n d i s b u r s e d w i t h i n 1 8 0 d a y s a ft e r t i w tr r e o e i pt a nd whict�Lender has not committed to the r e peb or restoratlon of � `, `- .� �
<br /> the Property shati be used tlrst to pay arry amount owinp to Lender under this Deed of Tnrst.then to pay aocrued inlerest,and the remainder,H .
<br /> � any,shall he applfad to the prtndpal balance of lhe Indebtedness. It Lender Adds erry proceeds aftar payment in full of the Indebtedness,such � �` __
<br /> prOC88dS Sh8lI b9 p81d t0 TNStOr 8s TNSSOrS ietgr85t3 rttBY ePPe&f• , 'Y rt- . jr
<br /> lksexpired Inwrsnee at Sab. My une�tred ins�,uance shai!inure to the beneftt of,and pess to,the purchaser ot the Property covered by thls �;
<br /> Deed af Trust et any trustee's sate or other sate hetd under the provisions oi this Deed oi Trwt,or at arry foredosure sab ot such PropsAy. , . `
<br /> Confp�iMCe wttif Odst6t�Indebtedaesa. Durtnp the perlod in whlch any Exlsttng indebtedness descr(bed below Is in effed,compQance with F''•`i:'
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<br /> the insurance prov�lor�s contsined(n the instrument evtdencinp such Fxlstlnp Indebtedness shell constituts eomplianae with Uw(r�surance . . �-.;��. ► <
<br /> ptovJsions under this Deed ot Trust,to ths extent compUance with the terms of this Qeed of Tnut waWd constitute e dup!ication ot inswance � •• '
<br /> �� , reqWrement I!any proceeds from the insurance become payabFe on toss,the pmvlslons i�lhis Deed ot Trust ta div�lon o!proceeds shall
<br /> epply onry to that pordon of ihe procaeds not payable to Ihe hdder of the ExisNnp Indebtedness. ' �,�,-��;
<br /> ' EXPENOITt�iES BY LENDER. It Tmstor feils to compry with any provfslon of thl.s Deed oi l�rust,irw�udtng any ob00atlon to m a ln t a 1n F.�d s Unp ^ �''�:'_�::��.
<br /> `� Indebiedr�ess in qood standinp as reQutred below,w M any acUon w prooe¢din9ls comrnanoed tlutwoutd materloYy aNacl lAndar's InWte�ls in ttw --
<br /> . + PropeRy,Lender on Tnuta's behalf may,but shail not be requtred to,tatce arry acUon that Lon�►deoms appropAate. My amount that Lender , �'� �` '�
<br /> � e�ends In so Qafnp wYl bear interesf at the rate provfded tor in the Nota from the date ineurred a patd by Lender to ths d4te of reQaymertf by ��_•-
<br /> Trwnor. AD such e�onses.at Lenders op�on,wiB (a)ho puyabie on demand, (b)be adQ9d to tho bolance of tha Noto und bo 4ppoNonad amanp r�,
<br /> a n d b e p a Y�l e w N h 4 n y i n s t a U r r N r►1 p a y m e n b t o b e c ome due duA n p e(ther p)th�tenm of a n Y�PPIlrabi0 tnsurana pdicY or pi)the r�rtwlNrp term � �.
<br /> � � of the Nofe,or (c)be treated as a beYoon payment whbh w!D be due and payabta at the Note's matuAry. This Oe�d of Tnut�tso w1A sec�ae ' -
<br /> paymenl of these amounb. The dyhts provtded tor in this paraIIroph shaU be in add(tion to any other Ayhis a any remedles to wMch Lender may be
<br /> � enUUed on aa:ount of the de7autt. My such actlon by Lender shall not be construed as curinp the defaWt so as to ber Lender from airyr remedy that :�»�°� �-__
<br /> '� tt oUtervWsa wOWd hav�e had. • . .
<br /> , � WAppA1iTY;pEFp�11SE OF TI7tE The tdfowinp prov3sions reiaUnp to ownership oi the Property ere B part of thb Daed of Tntsf.
<br /> � TIUs. Tn�ta werranb that (a)Tn�ssta hdds paod and martcetahle ttUUe of reacrd to tho Proporly in tee simple,fns and ciear o(aA Gons and �.
<br /> ; encumbrances other ihan those sot forth In the Rsal Property desalpbon or in tT�e EidsUnp Indebtedn�s sectlon below a in anyr titte Insurance � -.,,
<br /> poUcy,tlUe repart,or flnal tltla oplNon issued in favar ot,and exepted by,Lender In conrtecUOn with this Deod of Trusf,and (b)Tnista has tho �_
<br /> , f�AI rfphl,power,and authaity to�cecute and Oe1Mer this DeeO o!Tnist to Lender. � �
<br /> �� D�hnti oi TItM. Subjoci to the exooptbn in the ptuapraph above.Trustor wartants and wW fOreve►dofoad iha Uii�to Uw Propaty apaJnst ttw j ',
<br /> � IawtW t�ima of all petsora. In the want eny actlon or p►oceodir►➢b commencad thal Quastlons Trustor's tltf�or tlw int�rast ot Truc2ee a ( . _
<br /> � Lendar undar thb D�d at Trusf.Tnrstu shall dofond iho acUon at Tnutofa w�anso. Trustor may bo tha nomirwl puty tn aucA prooeatlinp,but ( -"
<br /> � Londer shall be ent0bd to partkipate in the prooeedinp and to be roprasantad In ttu�procseNnp by cour�sel of Wndei's own chcbe,and �
<br /> ; Tnuta wf0 deAVer.a cause to be deitve�ed,to Lender such Irutruments as Lender may request from fime to Ume to permH such porticipa8on. �
<br /> CompW�nce W8h Lawa. Tnista w�rnnts that the Rroparry and Trustor's use of tho Properly compUes wfth aU e�dsUny apDticabte taws. �
<br /> I orEhiances.and repulaUons of govemmentat authorities. I . —
<br /> E1t18TIN(i INOE6TEDNESS. 71re fdlowinp provistons eonoeming e�dstlr►y Indebtedness(the'fxishnp Indebtedness�ere e part of fhis Deed o}
<br /> Trust.
<br /> i E�(ny Lt�n. The Uen of Mla Deed of Trust securinp the tndebtedr�ess rtwy be socondery and Inferla to en e�dstlrp Uaa Trusta e�res5ly �
<br /> covenanb and nyrees to pay.or see to the payment o1,the F�dstlnp Indebtedness ond to prevent any detautt on sueh indeptediwss,nny detatilt ,
<br /> • under the Instrumenb evldanCing such Indabtedness,or any default under any secu►ity doCUmenb for suCh indebtsdnes9.
<br /> ' De}�uit If the payment of any Insteltment of pdncipal a any Interest on the F�dsUng Indebtednes.a is not made w(thin the Ume raquhed by the �
<br /> i nofe evtQencinp such Indebtedness,or should a defauit oocw undor tho Instrumant sgcudnp such tndebtedness and not be cured dudnp any ��.•.-
<br /> appucabfe�aoe period thereln,then,at the opUOn oi Lender,the Indebtedness secured by ihis Oeed of Trust shatl become immedlatety due ! ��
<br /> i and payable,and this De�d oi Tru31 sha11 be in tlefnutl � �
<br /> Np�IWdifleation. Trustor shalt not enter Into any ag�eement with tho hofdor of any moAQape,dsee of trust,a other securily apreertwnt wh�ch . �
<br /> ! h�s prlority over this Deed of Trust by whbh that aprAement is modifled,amended,azbnded,a renewed without the pda written consent of
<br /> Londer. Trusta shell neither request nw accept eny future advarx�s undtx any suCh socwity apreement wlthout the pdor wrilten consent of . -
<br /> � Lendel. � �.-
<br /> COMDE�ANATION.The}oflowlr�p provisions reiaUnp to oondemnaUon proceedings are a pert ol thlS Oead of Trust
<br /> Appf:cCltor+of C:at Prosc.�. I}ati or eny part of the PropeAy fs condamnod by eminent dortsaln proceedings or by any prooeeding or
<br /> ptuchase in Ileu of condemnaUon,Lender may at its etecUoh requlre thaf all or any poRlon of tha not pr000eds of the oward be apptied to the �
<br /> indebtedness or the rspeir a restoration of the Property. The net proot;eds of ihe award ShaJ mean ihe nward after payment of ell reasonabte �
<br /> costs,a�snses,and attomeys'tees incurted by Trustoe or Lender tn connecUon with the condemnation. �
<br /> Proeeedinga If any procaeding In condemnation is fited.Trusta sh�il promp8y notify Landar in vniUnp,Eind Trustor shaD promptly tF,fko s�h �'
<br /> staps es may bo neoessary to detend the action and obteln tAo eward. Trustor may bo the nominal pa�y Intiuch pmc�d�ng,bul Lendar shatt �._-�,
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