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201109707
<br /> DEED O� 7RClS�
<br /> Loan No: 810281 (ContinuedD Page 3
<br /> coverage amounts as Lender may request with Trustee and Lender being named as additionalinsureds in such
<br /> liability insurance policies. Additionally,Trustor shall maintain such other insurance, incfuding but not limited to
<br /> hazard,business interruption,and boiler insurance,as Lender may reasonably require. Policies shall be written in
<br /> form, amounts, coverages and basis reasonably acceptable to Lender and issued by a corripany or companies
<br /> reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time ihe
<br /> policies or certificates of insuranee in form satisfactory to Lender,induding stipulations tfiat coverages will noi be
<br /> � cancelled or diminished without at least ten (10]days prior written notice to Lender. Each insurance policy also
<br /> shall include an endorsement providing that coverage in fawr of Lender will not be impaired in any way by any act,
<br /> omission or default of Trustor or any other person. Should the Real Property be located in an area designated by
<br /> ihe�Director of the Federal Emergency Management Agency as a special flood hazard area,T�ustor agrees to ohtain
<br /> and maintain Federal Flood Insurance,if available,evithin 45 days after notice is given by Lender that the Property
<br /> is loeated in.a special flood hazard area,for the full unpaid principal balance of the loan and any prior liens on[he
<br /> property securing�the loan,up to the maximum�policy limits set under the National Flood Insurance Program,or as
<br /> otherwise required by Lender,and to maintain such insurance for the term.of the loan.
<br /> Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Le�nder may
<br /> make proof oY loss if Trustor fails to do so within fifteen (15] days of the casualty. Whether or not Lende�'s
<br /> security is impaired, Lender may,at Lender's election,receive and retain the proceeds of any insurance and apply
<br /> tF�e proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property,or fhe restoration
<br /> and repair of the Property. If Lender elects to apply ihe proceeds to restoration and repair,Trusior shall repair or
<br /> replace the damaged or destroyed Improvements in a manner satisfaetory to Lender. Lender shall, upon
<br /> satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost of
<br /> repair or restoration if Trustor is not in default under this Deed of Trust Any proceeds which have not been
<br /> disbursed within 180 days after their�eceipt and which Lender has not committed to the repair or resTOration of
<br /> the PropeYty shall be used first to pay any amount owing to Lender uoder this Deed of Trust,then to P�l'accrued
<br /> interest,and the remainder,if any,shall be applied to the principal balance of the Indebtedness. If Lender holds
<br /> any proceeds after payment in full of the Indebted�ess, such proceeds shall be paid to Trustor as Trustor's
<br /> interests may appear. .
<br /> Trustor's Re�ort on Insurance. Upon request of Lender,however not more than o�ce a year,Trustor shall furnish
<br /> to Lender a report on each exisiing policy of insurance showing: (1) the name of the insurer, (2) the risks
<br /> insured; (3) the amount of the policy; (4) the property insured, the then current replacement value of such
<br /> property,and the manner of determining that value;and (5) the expiration date of the policy. Trustor shall,upon
<br /> request of Lender,have an independent appraiser satisfactory to Lender determine the cash value replacement cost
<br /> of the Property.
<br /> LENDER'S EXPEIVDITURES. If any action or proceeding is commenced that wouid materially affect Le�der's interest in
<br /> the Property or if Trustor fails to comply with any provision cf this Deed of T[ust or any Related Documents,inciuding
<br /> but not limited to Trustor's failure to discharge or pay when due any amounts Trustor is required to discharge or pay
<br /> under this Deed of T�ust or any Related Documents,Lender on Trustor's behalf may(but shall not be obligated to)take
<br /> any action that Lender deems appropriate, including but�not limited to discharging or paying all taxes, liens, security
<br /> interests,encumhrances and other daims,at any iime levied or placed on the Property and paying all costs for irtsuring,.
<br /> maintaining and preserving the Property. All such e�cpenditures incurred or paid by Lender for such purposes will then
<br /> bear interest at the rate charged under the Note from the date ineurred or paid by Lender to tFie date of repayment by
<br /> Trustor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on
<br /> demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installmern
<br /> payments to become due during either (1) the term of any applicable insurance policy;or (2) the remaining term of
<br /> the Note;or (C) be treated as a balloon payment which will be due and paya6le at the Note's maturity. The Deed of
<br /> Trust also�vill secure payment of these amounts. Such right shall be in addition to all other rights and remedies to
<br /> which Lender may be entitled upon Default.
<br /> WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed
<br /> of Trusfi
<br /> Title. Trustor warrants that: (a)Trustor holds good and marketable title of record to the Property in fee simple,
<br /> free and clear of all fiens and encumbrances other than those set forth in the Real Property description or in any
<br /> title insurance policy,title report,or final title opinion issued in favor of,�and accepted by, Lender in connection
<br /> with this Deed of Trust,and (b)Trustor has the full right,power,and authority to execute and deliver this Deed of
<br /> Trust to Lender.
<br /> Defense of Title. Subject to the exception in the paragraph above,Trustor warrents and wili forever defend the
<br /> title to the Property against the lawful ciaims of all persons. In the event any action or proceeding is commenced
<br /> that questions Trustor's title or the interest of Trustee or Lentler under this Deed of Trust,Trustor shall defend the
<br /> action at Trustor's expense. Trustor may be the nominal paRy in such proceeding,but Lender shall be entitled to
<br /> participate in the proceeding and to be represented in the Proceeding hy counsel of Lender's own choice, and.
<br /> Trustar witi deliver,or cause io be delivered,to Lentler such instruments as Lender may request from time to time
<br /> to permit such participation.
<br /> Compliance With Laws. Trustor warrants that the Property and Trustor's use oP the Property complies with all
<br /> existing applicable laws,ordinances,and regulations of governmental authorities.
<br /> Survival of Representations and Warranties. All representations,warranties,and agreements made by Trustor in
<br /> this Deed of Trust shall survive the ezecution and delivery of this Deed of Trust,shall 6e continuing in nature,and
<br /> shali remain in full force and effect until such time as Trustor's Indebtedness shall be paid in full.
<br /> CONDEMNATION. The following provisions relating to condemnation proceed.ings are a part of this Deed of Trust:
<br /> Proceedings. If any proceeding in condemnation is filed; Trustor shall promptly notify Lender in writing, and
<br /> Trustor shall promptly take such steps as may be necessary to defend the action and obtain tfie award. Trustor
<br /> may be the nominal parry in such procee�ng,but Lender shall be entitled to participate in the proceeding and to be
<br /> represented in the proceeding 6y counsel of its own choice, and Trustor will deliver or cause to be delivered to
<br /> Lender such instruments and documentation as may be requested by Lender from time to time to permit such
<br /> participation.
<br /> Application of Net Proceeds. If all or any part of the Property is condemned hy eminent domain proceedings or by
<br /> . any proceetling or purchase in lieu of condemnation,Lender may at its election require ihat afl or any oortion of the
<br /> net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property. The net
<br /> proceeds of the award shall mean the award afier payment of all reasonable costs,expenses,and attorneys'fees
<br /> . incurred by Trustee or Lender in connection with the condemnation.
<br /> IMPOSITION OF gAXES,FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating
<br /> to governmental taxes,fees and charges are a part of this Deed of Trust:
<br /> Current Taxes,Fees and Charges. Upon request by Lender,Trustor shall execute such documents in additian to
<br /> this Deed ofi Trust and take whatever other aciion is requested by Lender to pertect and continue Lender`s lien on
<br /> the Real Property. Trustot shall reimburse Lender for ali taxes, as described below,togeiher with all expenses.
<br /> incurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes, fees,
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