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$i(f7�1�1946
<br /> DEED �F TRUST
<br /> Lnan 11io:8100't791 {COtltillued) Page 3
<br /> Property in an amount sufficient fo avoid appl�cation af any coinsurance clause, and wiYh a standard morfgagee �
<br /> clause in favor of LenQer. Trustor sha[i also procure and rneintain comprehensCve genera!liability insurance in s�ch
<br /> coverage amounts as Lender rr�ay request witM Trusiee and Lender being nsmed as additional insureds in suc[i
<br /> liabitfty ins�ranca polieies. Additionally,Trusta[shall maintain such otFrer insurance,including but not Iimited to
<br /> hazard,busi�ess interruption,ancf boiter insurance,as Lender may reasonably require. Policies shall be written in
<br /> f0em, amnunts, Coverages and 6asis reasnnably acceptablz tn Lender and issued by a cpmpany or CtlrngBnies
<br /> reasonably acceptab[e ta Lender. Trtistor, upon request of Lender,wiil deliver to Lender from time to time the
<br /> pOliCies OC CBrti�c8t8s tl'�1�75UI'�tice in ftl�'tYl SBtiSf2CTOty t0 L9r1d2Y,inClUdin�StipUla'Ci0ri5 tf7a2 COVBYagBS will fttlt b8
<br /> caneelled ar diminished without ai least ten(10?days prior written notice to Lender. �ach insurence palicy also
<br /> shatl include en endnrsement providing that coverage in favar of LenrEer will nnY be impaired in any wey by any ect,
<br /> omission or deiau[t of Trustor or any ather person. 5hould the Rsal Prflperty be toeated in an area designated by
<br /> the Director of the Federal Emergency Management Agency as a special flood hazard area,Trustor agrees to n6iain
<br /> and maintain Federaf Flood Insurance,if avaiEab]e„ for the futf unpeid prinoipel bal2nce of the 3oan and any prior
<br /> liens on the praperty securing the loan, up to ttre �aximum policy lim[ts set under the National Flood Insurance
<br /> Program,or as otherwise�equired by Lender,and ta maintain suefi insurance for the term of the loan,
<br /> Appiicaiion of Prnce�c[s. Frustor shall prnmptty nntify Lehder oi any[oss or damage ta the Praperty. Lender may
<br /> rr�ake pro�f ofi loss ifi Trustor fails to do so wiTh[n fifteen ("[5) days of the casualty. Whether or not Lender`s
<br /> security is impaEred,Lender rn�y,st Lender�s election,recefve ai�d reta€n the prnceeds nf any insurance e�d apply
<br /> the proceeds to ihe reduction of the lndebtedness,payment of any lien afFecting the Property,or the resroration
<br /> and repair of the Property. If Lander elects to epp[y the proceeds Yn r�storateon end repair,Trustnr s all repair or
<br /> replace the damaged or destrayed Imp€ovaments in a manner satisfactory to Lender. Lend r shall, upon
<br /> satiSfaCtOry prppf Of suCh expenditUre, gay nr reim13ur5�TruSiar from the proC��dS finr the o le co52 of
<br /> repair or restoration if Trusmr is not in default under this Deed of Trust. Any proceeds w� not l�een
<br /> e(is6ursed within '[80 days efter their receipt and which Lender hes nnt enmmitted tn the �or restorat9on of
<br /> the Property sha11 be used first to pay any arc€ount owing to Lender under this Deed of Tr t„ en to pay accrued
<br /> interesY,and the 7emainder,if any,shall be applied"to the principal balance of the[nde�ess. If Lender holds
<br /> arey proceeds after paymant in full of the Indeb2edness, such proceeds shall be� o Trustor as Trustor's
<br /> interests may eppear. � t
<br /> Truster's Repert en Ins�rance. Upon request of Lender,however not more than�e a year,Trustor shall furnish
<br /> fo Lender a repart on eacfi�xist�ing policy of insur8nce showing: (1) t name of the insvter, E2) the risks
<br /> irtsur8d; (3) ihe am�unt of the policy; {41 the propeny i�sured, th n current repla¢ement value of such
<br /> praperty;and the manner a€de#ermining that value;and (5) the er ��' n te tlf the policy. Trustor sfiap,upon
<br /> req�est of Lender,have an independent appraiser satisfeciory to Len te-mine the cash value replacement cast
<br /> nf ehe Properwy.
<br /> LENE7ER'S EXPEIs[DPTURES_ If a�y actEon or proceeding is comme ihat wou[d materlaqy affect Lender's irtteresT i�
<br /> the Property or if T€ustor fails to comply w[th any provision af ed ot 7rusY or any Related Documents,including
<br /> hui not limited to Trustor's fai]ure to dissharge or pay wh y amounts Trustor is required to discharge ar pay
<br /> undar this Deed of Trust or any Related Doc�ments,Lende o�rus�far's behalf may(but shall not be obtigated toh take
<br /> any action that Lender deems apprQpriate, inc[uding b�n�mited to discfiargSng or paymg al]taxes, liens,security
<br /> interests,encumbrances and other daims,ai any tim f�d or placed an the Property and paying a]]costs for insuring,
<br /> maintaining and preserving the Property. AI[suc nditures ineurred ar paid by Lender fior such purposes witi then
<br /> bear interest at the rate chaeged under the No e o he date incurred or paid by Lsnder tn YMe date af repayment 6y
<br /> Trustor. Alt such expe�ses�will become a pa the Indebtedness and, ai Lender's optian;will (A� be payable on
<br /> demand; IB? be added to the ba(ance of the Note and be appartioned among and be payable with any instal(ment
<br /> payments Ya become due during eiYher�t} the term of any applicable insurance po39ey;or {2] the remaining term of
<br /> the Note;or (C1 be treated as a bal�ionlr�fyment which wiEi be due and psyat�le at the Nots's matutity. The Deed of
<br /> 7rust alsa wil[secure paymeni o€t�e3t amaunts. Such rfght shall be in addition to a91 other rights ar�d remedies to
<br /> whieh Lender may be entitled.upq�D�ault.
<br /> i�1
<br /> WARRANTY;DE�ENSE bF 7��'he Pollo�uing provisions ralating ta o�rvnership of the Property are a part of this beed
<br /> pf TrUStc
<br /> TiiJe. Trustor w �chat: iaa Trustor halds good and marketable title of record to the Property in fea slmple,
<br /> free and clear o aEl :ens and encumbranees nther than thnse set forCh'rn the Real Praperty description nr in any
<br /> title insuran o tiile rep�rf,or finat iitle�pinion issued in fiavor of, and accepted by, Lender in connection
<br /> with tFiis �F 7rust,and (b1 Trustor Has ih8 fUEI right,power,2nd 8utho€ity to execut0 and d8liver this Qeed of
<br /> Trust t e er.
<br /> Defense o Title. S�hject to the exceptican in the paragraph above,Trustor warrarts and wi([forever defend the
<br /> titie to the Property against the]awtul claims of atl peesons. In the event any ecTion or proceetling is eommeneerl
<br /> thaY questior�s Trustor's tif[e ar the interest of Trustee or Lender�nder this Deed of Trust,Trustor sha11 defend the
<br /> action at Trustor's expense. Trusior may be the�ominal party in sucl�proceed(ng,but Lender shatl be entitled to
<br /> participate in the proceeding and to be represen#ed in the pro¢eeding 6y eounsel ofi Lenz3er's own choice, and
<br /> 7rustor will deliver,or catise to be delivered,to Lender sueh instruments as Lender may request from time to t[me
<br /> ta permit stich participation.
<br /> Com�rliance Witri Laws� Trustor warrants that the Properfy and Trusior's �se of ihe Property complieS with all.
<br /> existing app]icahle laws,ardinances,aod regulations of govemmental authorities.
<br /> Survivei af Representations and Warrenties. AlI representaTiQns,wa€ranties,and agreements made 6y 7rustor irt
<br /> this Deed of Trust shalP survtve the execuYion and delivery o#this�eed of Trust,shall tie con%2nuing in nature,and
<br /> shall remain in-3ull force and e#fect unti[suoh time as Tr€istor"s InrJebtedness shall be paid in ful3:
<br /> CQNDENiNATI�N. The fallowing provisions relating to condemnatian praceedings are a part ofi ihis Deed of Trvst:
<br /> Proeeedings. If any praceeding in cnndernnatinn is filed, 7rustor shall prompYly natity Lender in 4vriting, and
<br /> Trustor shali prompEly take such steps as may be necessary ta defend the aetion and o6xain ths award. Trustor
<br /> may be the nominal party in such proce2ding,but Lender she(I 6e entitled in p�rti�ipate in Yhe prnceeding�nd to be
<br /> represented in Yhe proceeding by counse[af its own choice,and Trustar wi]I deliver or cause ta 6e delivered to
<br /> Lender such instruments and documentation as may be requested by Lender from time to time to permit such
<br /> parYioipa#iao.
<br /> Apglication af Net Proceeds. If aJl or any pait of the Property is Condemned by eminent dOmein proCeedings aY Fiy
<br /> any proceading or purchase in lieu af candemnatton,Lender may at its eleciion require that all or any portion of the
<br /> net proceeds of the award be applied ta the Indebtedness or tha repair or restoration of the Property. 7he net
<br /> praoeeds af the av+ard shell rYiean the award after payment oP af[reasonable cosis,expenses,and attorneys'fees
<br /> incurred by Trustee or Lender in connaction with the candemnation.
<br /> I1VlPOSITION OF TAXES,FEES ANQ G1iARC�ES BY GOVERR[MENTAL AUTHOR[TIES, The fiollowing provisions re€ating
<br /> to goverrtmental taxes,fees and charges are a part af this Daed of"Crust:
<br /> Current Taxes,Fees and Charges. Upon reqv�est by Lender,Trustor shall execute such dvcuments in addition to
<br /> this�eerl of Tru5C and take whatever other aotinn'rs requested 6y Lentler to parfect end continue Lander`s lien an
<br /> the Real ProperCy. Trustor sha]I reimburse lender 4or�71 taxe5, as descriped b�low,tng�th�±r with all expenses
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