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<br /> bEI�C� O� �RUS�'
<br /> Laan No:8'[OC31024 (COt7tAT1U�d) Page 3
<br /> form, amounts, caverages and basis reasonably acceptable to Lender and issued by a campany or companies
<br /> reasanably acceptable m Lende€. Trustor, upon request af Lender, wil!deliver to Lender from'Citne tn Yirtte Yhe
<br /> policies or certificaies of insurance in form satisfactory to Lender,including stipulations that coverages will not be
<br /> CenCelled tlr tlirttinishecE without at IeasY ten t10)d�ys pri0r written notiCe to Lender. Esch insurance policy also
<br /> shal]include an e�dorsement providing that coverage in favar of Lender witl not be impaired in any way t�y any act,
<br /> omissian or defiault ofi Trustor or any other person. Should the Real Properiy be]ocatetl in an area designated by
<br /> the C3ireetor of the�ederal Emergency Management Ageney as a speeial flood hazard area,Trusmr agrees to abtain
<br /> and maintain Fedeeal Flood [nsurance, if availab[e,#or the full unpaid principal bale�ce ofi the loan and any prior
<br /> liens on the property securing the loan,up to the maximum policy limits set under the National Flood Insurance
<br /> Program,or as otherwise reqc�ired 6y Lender,and to maintain such insurance for the term of the loan.
<br /> Rpplicatrnn nf Prnc�eds. Twustor shal[prompYly notify Lendew crf any loss nr ciamage Yo the Property. Lender may
<br /> make prvof of loss ifi TrusYor faiis ta do so within fifteen (15) days ofi the casualty. Whether or nat Lender's
<br /> security is impaired,Lender may,a2 Lender"s election,recelve and retain the praceeds of any insurance and apply
<br /> the Rroceeds to the reduction of the tndebtedness, payment of any lien affec2ing the Property,or the restoration
<br /> and repair of the Property. [f Lender elects fio epply the proceeds to restoration and eepair,Trustor shall repair or
<br /> replace the damaged ar de5trnyed Imprnvern�;nt5 in a manner saYisfiactory to Lender. Lender shaEl, upon
<br /> satisfiactory proofi afi such expendiiure, pay or reimburse Trustor from the proceeds for the reasonable cast of
<br /> repalr or resrnratinn if Trustor is not in defeult under this Deed of Trust. Any proceeds which have not been
<br /> d3shursed within 180 days after their receSpt a�d which Lender has oot coromitted to the repair or restoration of
<br /> the Property shall be used first to pay any amaunt owing to Lander under ihis Deed of Trust,then ta ay accr�ed
<br /> interest,and the rernainder, if any,shall 6e epplied to the prin¢ipal balanee of the Indebtedness. jf�neter hoicfs
<br /> any proce;eds after paymerrt in full of the Indebtedness, sush proceeds shall be paid to Tr or Tcustor's
<br /> inte€ests may appear.
<br /> 7rustor's Report on Insurance. Upan request of Lender,however not more than once a y a�stor sha[[furnish
<br /> tn Lender a weport on each exisYing policy of�nsurance shnwing: (7) tt�e name nf s rer: (2} the rts[CS
<br /> insured; (3} the amouM of the policy; f4) the.properiy insured,tE�e then curre �cement value of such
<br /> praperty,and the manner of determining thaY value;ar2d (6) the expiratior�date t�licy. Trustnr Shal(,Erpon
<br /> request of Lender,have an independent ap�Zraiser satisfactory to Lender determin th cash value rep[acernent cost
<br /> of the Property.
<br /> LEIVDER'S EXPENDITURES. If any aciion or proceeding is commenced fhat wo d materEally affec2 Lender's interest in
<br /> the Prapewty nr if Trustor fails to cnrnply with aroy prnvision of this Deed of�or any R�iateci�ocum�nts,inGuding
<br /> but noY limited to Trustar's fiai[ure to discharge or psy when rJue any a ustor is required to diseharge or pay
<br /> under thi.s Deec1 of Trust ar any Related Documents,Lender on Trustor's b may(but shall not be obl€gated tn}take
<br /> any aotion that Lende€deems appropriate,incluciing bui not Eimit to discharg�ng or paying al!taxes, [iens„security
<br /> in7e€ests,encumbrances and other cleims,aE any Yime tevied Qr pla e n the Property artd paying all costa for insuring,
<br /> maintaining and preserving Yhe Property. All such expeaditure d or paid by Lendar for such purposes will then
<br /> bear interest at the rate charged under the Nate from the e�rred or paid 6y Lender to the date of repaymertt by
<br /> h
<br /> Trustor. All such expenseS wili bec�me a part of the Ind ness and, at Lender's option, v�il[ �RM be payabie on
<br /> demanri; (B) 6e added tio the balance �f the Note a�h pportioned among and be payable with any insta[lreent
<br /> payments to become due du€ing either {�) the ter�ofi d1�y appliea�ile insurance pnliey;or (2) the remaining tsrrr�o€
<br /> Yh@ Npte;or (C) be treated es a balloon payme�'�yt(�hl�h wiil be due and payabis at the Note's maturlty. The Deed of
<br /> Trust aEso will secure payment of these amo;y`����ch rigf�t shall be in addiYion to alI oiher rights and rernedies to
<br /> whicC�Lender may be entltled upon Default. ��
<br /> �A/ARRANTY;DEFEIYSE OF T9TLE: The fgJyowing provisions relating to ownership of the Property are a part of this C1eed
<br /> tlf Trust: �
<br /> Title. Tr�stor warrants that: �stor holds good and marketable tiYle oi recoed to the Property in fee simple,
<br /> fr28�nd clear of all Iierrs a n m6rences other than those set forth in tlie fieal Property description ar in any
<br /> title`r�surance policy,tit��h,ar final title opinion issued"cn favor of,and accepted 6y, Lender in cortnectPon
<br /> with this Deed oi'Frust (b)Trustor hag the full right,power,and authority to execute and deliver this CJeed of
<br /> Trusf to Lender.
<br /> Defense of T�RIe��Ct'CO the eacCeptinn in Yhe paragraph a6nve,Trustor vvarran�es end will forever defend the �
<br /> title to the Pr gainst the lawful claims of aI]pecsans. In tE�e event any action or proceeding is eommeneed
<br /> that quesYio ustor's tiYle or ths interest oi Trustee tlr Lender Under this Deed of Trust,Trustor shall defend the
<br /> action 's expense. Trustor rr�ay be the narninal party[n such proceediag,but Lender shall 6e entitled io
<br /> particip�the proceeding and tn b�represented Cn tl�e proceer9ing by cbuns�C of Lender"S own Choice, and
<br /> TrusEor wc deliv8r,or cause tc�6e deEivered,to Lender such instruments as Lender may request fram fime to time
<br /> Yr�permit such participation.
<br /> Campliance With Laws. Trustor warrenYs that the Property and Trustor's usa af the Property complies uvith atl
<br /> existing app[icatrle 1aws,ordinances,and eegulatians�of gbvarnmsrital acathorities.
<br /> Survival of Representations and Warranves. AI[representetions,warranties, and agreements made 6y Trustor 1n
<br /> this Deed of Trust shall survive the execution and de€ivery ofi this Deed of TruSt,5hell 6e continuing in nature,and
<br /> shall remain in full force and effect�niil suah time as Tn�star's Indebtedness shal[be paid in full,
<br /> GONDEI�lINATIQI+1. TE�e following pravisions relating to condemnation proceed'mgs are a part of this Deed of Trust:
<br /> Proc��dings, [f any proceeding En eondemnation is fi(ed, Trustor Shall promptly notify Lender in writing, and
<br /> Trustor shall promptly teke such steps as may ae necessary to defer�d tha action and nbtain the award. Trustor
<br /> may be the nominal parLy in such proceeding;bvt Lender shal(be entitCed 4o participate in tha proceeding and m be
<br /> represented in the proceed'rng by courisel of fts owr�choice,and Trustor will deliver or cause to be delivered to
<br /> Lendet such instruments and documentaYion as may be requested by Lendee from time to t€me to permit such
<br /> partieipation.
<br /> Application t3f Net Proceeds. ]f sll pr any part of the Property is condernned tiy emineM domain proceedings or by
<br /> any proceeding ar purchase in lieu of eondemnatian,Lender may at its election require that all or any portion of the
<br /> net prnceeds af the awawd be applied m the]ndebtednass or the repair or restoration of the Property. The net
<br /> proceeds ofi if�e awa�d shal]mean the av�rard after payment of aII reasonab[e cosis,e�enses,and aYCorneys'fees
<br /> incurred by Trustee�r Lender in connection with the condemnation.
<br /> IMPOSlT10N OF TAXES,FEES AI�tE3 CHARGES SY GOVERNIt�tEMTAL AUTHQR(TIES. The folEowing prqvisions refating
<br /> to govern�mental taxes,fees and eharges aee a part of this Deed of Trust:
<br /> Currerrt Ta�ces,Fees and Cfiarges. Upbn request by Lendee,Trustor shall execuie such documents in addition to
<br /> this Deed of Trust and take whatever other action is requested by Lender to perfect and contin�e Lender`s lien on�
<br /> the Real Property. Trvstor shatl reimburse Lender for all iaxes>as descri6ed be(ow,together with ail expenses
<br /> incurred in recording, perfeciing oe aontinuing this Deed af T€ust, including w€thout limitation all taxes, fees,
<br /> dacumentary stamps,and tlYher Charges fOr rgCOwding or registering Yhis Deed nfi Trvst.
<br /> Taxes. The fnllowing sha(I constitute taxes to which this sectian applies: €7! a specific ta3c upon this type of
<br /> Deed of Trust or upon all or any part of ihe ]nde6tedneas secureH by this Deed of Trust;. (2) s specific tax c�n
<br /> "f'rustbr which Trustar is authorPzed Qr required to deduct firom payments on the Inde6tedness seaured by thiS type
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