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201201842
<br /> D�ED OF TR[!ST
<br /> Loan l�[o:8'E000125 {Continuet#� p�y�3
<br /> any ad�,�erse jucigment.6efore enforcement agatnst the Pro-pzriy. Trustor shall name Lender as an additionat oh;igee
<br /> under any surety bond iumished in iha contes't proceedings.
<br /> Evidence of Paymerrt Trustor shal[upon derr�and furnish to Lender satisfactory evidence ofi payment ofi t�e iaxes
<br /> or assessments and shalE authorize the appropriate govemmental official to defiu�er to Lender at any time a written
<br /> sFa£ement of tfie taxes and asse:ssmen�es against the Properly. .
<br /> Nofice of ConsErvcfiorr. Trustor�sha[I notify Lender at leas;.fifteen(75)days before any work i��comme.r.ced,.any
<br /> services are iumished,or any materia's are supplied to the Property,if any mecfianic's lier,materialmen's lien,or
<br /> other fien could bg asserted on account of the V�ork services,er naterials. Trustor will upoo r�quest of Lender
<br /> rurnish to Lender advance assurances satisfactory to Lender that Trustor can and wit€ pay the cosE of sach
<br /> improuements. �
<br /> PR6PER,TY DAMAGE lR4SURANCE. The fo[fowirLq provisions relaxi�g to insuring ihe ProperCy are a part oi�th7s Deed of
<br /> Trust.
<br /> Maintenanca ofi Insurance. Trustor shall procure and ma�ntain poficies o�fira insurence with standard extended
<br /> coverage endorsements on a repia:cemerrt�basis for the fulf insurab[a value covering all Improve�ments on the Reaf
<br /> ' Properry in an am6unt sufficien�to avoio sppiicaGOn of a�y coinsurance clause,and with a standard moitgagee
<br /> ciause�in Favor of Lender. Ttustor skall also procure and maintain comp[e`i.ensive ceneral li.abiliry.insurance in such
<br /> coverage amounts as Lsnder may request with Trustee and Lender being �amsd as addit�onal insureds in such
<br /> liability irtsurance policies. Adciitio�na3ly,Trustor shafl mainfain such other insttrance,inciuding but no'E limited to
<br /> hazaid,busir�ess iMerruption,anif 6oilet insuYance,as Le�t�.d2c may reasanab�y�ee�uire. Potieies shall be written in
<br /> form, amounts, coverages and basis reasonab[y aeseptabte to Lender and�issued by a company or co�panieS
<br /> reaso.nakaly aceepfabfe Yo Lender, Trustor, upon request of Lender,will deliver to Lender from time to time the -
<br /> policies or certificates of insutance in form satisfactory to Lender,including siSpula't'rons fhat coverages will noi be�
<br /> cancelleti or diminished v,rithout aT lea�teo{7p�@�ys prior written no�tice to Lender. Each in�araace polfcy also
<br /> shall inelud.e an endorSeme(rt pruviding that coverage in favor of Lender will not be impaired in any way by any aet,
<br /> omission or de€au3f,.o€Trustar or any other person. Sfioiild the Real P�oper'[y be locaied in an 8rea qesignaYed by
<br /> the Directot ofi the FedePal Emergercy Management A�ancy as a specia.l flood hazard a�ea,TrusYOr agrees to o6tain
<br /> and maintain Federal Flood Insurance,if available,for the fiall unpaid prineipa(ha[2nce ofi tne loan and any pr.or
<br /> liens on the propery securiog the foan�, up to Ihe maximum policy fimits set under the�latio�a[F7ood tnsuranc2
<br /> Progra.m,or ae otherwise re9uired by Lender,and to mai[�tain such insurance for the teim of the loan.
<br /> Application of Proceeds. �f'rustor shail promptly notify Lender oP any loss or damage to tfie Property. Lender may
<br /> make pro-of of loss if Trustor fails Lo do so within fiifteen(15? days of the casualty. Whether ot not Lender's
<br /> secwrify[s impaired,Lender may,at Lender's election,reeeive and reFain the pioceetls oi any insurance and applq
<br /> . the proceeds to the reduction of the Indebtedness,paymenf of a�y lien affecting the�roperty,or the restoration
<br /> and repair ofi the Properry_ If Lender elects to aP�Y the proceeds to restoration and repzir,Trustor Shall repair or
<br /> replaee fhe damaged or d�stroy2d Irnprovem.ents in z man�er sarisfae�tory to Lender. Leoder shalE, upon
<br /> satisfaccory proof of soch expertditure,pay or reimbarse Trustor frorti the procaeds for the reasanatile cost Qf
<br /> repair or restoration ifi Trustor is nct in defiault under this Dee�of Trust. A�y p,-oceeds�n�hfch have not heen
<br /> disbursed+.nrithin 180 days after their receipt and which Lender F�as not comm'rct�d to tha repair or restoration of
<br /> the Property shall he�sed firsi fo pay any amount owing to Lend�r under this Deed ofi Trust,then To pay accrued
<br /> interesi;and the remainder,.if any,shall 6e zpplied to the principai balance of the Indebtedness. lf Lender hoids
<br /> any proceeds after paymenf in full of th2 Inde6tedness, sueh proeeeds shall he paid to Trustor as Tiusior's
<br /> interests may appe9r. �
<br /> 'TrustoCs Keport on Insuranee. Upo�request af Lender,hov��vee not more tMan once a year,Trustor shal!furnish
<br /> to Lender a report on each eristittg policy of insuran�e showing: {7) the name of the�insurar, (2} the risks
<br /> � iosured� (3) the amount o€the polinv;. (4� the property insured,the then�.urrent reptacement val�e af sqch
<br /> proper#y,and the manner of determining that vaWe;and {5� ihe expi�ation date of the poficy. Trustor sh211,upon
<br /> � request ctf Lender,have an indep2ndettf appraiser satisfactary to Lender defermir�e the cash value replacement cost
<br /> of the Property:
<br /> LENDER'S IXP�TlDlTUR�ES. Vf ar.y action or proc2eding is commenced thaY would materialiy affect Lender's ir.teresi in
<br /> the Property or ifi Trusxor fai[s to comply vsi[h a�y peo�ision of this Deed ofi Trust or any RelaEed Documents;including
<br /> 6u[not Ii:nit�io Tmstor's failure to discharge or pay when dtte any amounts Trustor is reqUired to discharge or pay
<br /> Under tfiis Deed of Trust or any Related Documents,Lznder nn Trustor's beF�alf may(4ut sha]]not be obligated to)take
<br /> any acuon ihat Lende.*de�ms appropriaie,includiag but noi limited to diseharging or paying a[f taxes,fiens,security
<br /> � interesis,encumbrances and otfier daims,at any time levied o�placed on the Pro�rry and paying all costs for insur[ng,
<br /> mainxaioi�g and preservmg the Property: .411 such axpendit-Jres incurre3 or paid'�y Lender fior such purposes wil]ihen
<br /> 6=ar irrterest at the rate charged under the�ote from the date incurred or oaid by Lender to the date of repaymenf by
<br /> Trusfoe. A1i s�ch expenses wi[f become a p�of Yhe[ndebiedness and,at Lender's opYion,v�ill {Ai oe payabie on
<br /> demand; (8} be added m the hafance o�f the Note artd be appo[i[oned among anu�be payable wifh aoy insta0meni
<br /> paymentg to become due du�ing either fl l the Esrm ofi any app[icable insurance policy�or (2} ihe remaining term ofi
<br /> the Nate;or {C} be treafed as a tia[loon payment which w3ft be due and payable at the Note's mafurity. TFi.e�eed of
<br /> Trtrst also wilf secure p2yment of these amounts. Suoh right shall be in additiqn tQ all oiher rights and ramedies io
<br /> which Lender may be eniiEled upon Defautt.
<br /> WARRANTY:DEFENSE OF TITLE The follo1v[ng provisions relati�ng To ownership:of the Properly are a part of fhis Deed
<br /> of Trust:
<br /> Tit[e. Trustor v�[arrants Yha'C_ (a)Trustor hoids gooa artd rriaeketable title ofi record to the Properry in fee simpfe,
<br /> �;ree and c3ear of ali iie.ns and encumbranees other than thosB sei forth in the Rez[Peoperiy description or in a;ry �
<br /> title insarance paticy,tiile report,ar 5naf title opinion issaed�n favbe of,and accepted by,Lender in cqnnection
<br /> ivrth this Deed o#Trust,and ib?Trustor has:he fuU rigf�t,.poxver,and,authority to execute and deliver this Deed of
<br /> Ttustto Lender.
<br /> Defense o#TNe. Subject to the exception m#he paragraph above,i rustor warrants and�vill forever defend the
<br /> titte to the Praperty ag2insT�Me Iawful claims of a#I persoRS. In the event any aelioa or proceeding is comrrtai;ced
<br /> ihat quesTinns Trustor's titfe or the interest af Trustee or Lertder urtder;his Deed of Trust,Trustor shall defead the
<br /> action at Trustor's expenss. Trustror may be the riominal party in snch proceeding,but Lender shal]be entitlec to
<br /> partieipate in the proceed"mg and to be repr�sen�ted in the proceed[ng by counsel of Lender's own choice,and
<br /> Trus2or wiii de3iver,or cause to be delivEred,to Lender such instruments as Lender may request from time to�time
<br /> Yo permi�sach participation.
<br /> Compliance With Laws. Trugtor warrants that rhe Property and Trustor`s use of the PropeRy complies�nrith al[
<br /> exi.stir�q appfica6le laws,ordinances,and cegulafions ofi govemmental aut4orities.
<br /> Survival of r'fepresenTations and Warranties. A[[representarions,warranties,znd agreements made by TY[LSTOr in
<br /> ihis Deed of Trust shal]survive The execu�ion aad cfelivery of this Deed of Tn:st,shaq be continu3ng in namre,and
<br /> shal]remain in full force and effect on#il such time as Borrower's[nde6tedness shall he paid in full.
<br /> CONDEIVINATION. Tfie fal(owing provisions relating to condemna�t�on proceedings are a part of this Deed of TrusL-
<br /> Proeeedings. I`any proceetling in.condemr�a2ion is filed, Trustor shall prompfly notify Leniier in writing,anc.
<br /> Trustar sha[E promgtty talce such s2eps as may be�.necessary Yo defend the acrion and obtain the award. Tras'[or
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