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��14��1�9 DEE� �F 1'RU�T Loan No; 7�'l 27�555 ��1t1�1ued� Page 4 make proaf �f Ioss i� Trusto� �ails �o do sa vuithin fifteen �15� days of th� casualty. Whether or n�t Lend�r's security is impair�d� Lender may, at Lender's electi�n, receive and r�tain the pr�ceeds of any insurance and apply the proceeds t❑ the reduc�tion of the Inde�tedness, payment of any I�en affecting the Pr�p�rty. or the res�arativn and repair �f the Prop�r�y. If Lender elec'ts to apply the pro�eeds to restoration an� repair� Trustor shal! repa�r or repface the damaged ar destroyed Improvements in a manner satis�Fac�ory tQ Lender. Lend�r shall, upon satisfact�ry proof �f such exp�nditure. pay or reimhurse Trustor from the praceeds for the reasonable cost of repair ❑r restoration �f Trustor is nvt in default under thEs Deed of Trust. Any proceeds which have no� been disbursed within �8� days affi�r �heir receipt and which Lender has nvt cnmmitted �a the repair or restoration o� the Pr�perty sha[I �e used �first to pay any amount owing t� Lender under this Deed of Trust, then tn pay accrued inter�st, and the remainde�, if any, shalf be applied ta the principal balance Q��he Indehtedness. If Lender h�lds any praceeds af�er payment in full afi the Indebtedness� such proceeds shall �� paid to Trustor as Trustor's interesfis may appear. Compliance with Existing Indeht�dness. During the periad in which any Existing Indebt�dness described befaw is in effec�, compliance with the insurance pro�isiflns cvntained in the instrument evidencing such Existing lndebtedness shall c�nstitu�e compliance with the insuranc� pravisivns under this D��d of Trust. ta the extent compliance with the �erms vfi this Deed o�F Trust would Gonstitut� a dupli�ativn of insurance requEremen�. i# any proceeds from the insurance becom� paya�le vn loss, the provisions in this Deed of Trus��Far diWision �f prviceeds shall apply only to that por�tion❑f the praceeds not payable ta the holder�f the Exis�ing lndebtedness. Trustor's Repart on lnsuran�e. LJpon request of L�nder, howeWer n�t mvre than once a year, Trus�or sha�l �Furnish �a Lender a �eport an each exisfiing p�licy vfi insurance showing; 41} the name af �he insurer; ��} the r��ks insured; �3j the amount ❑f th� poficy; �4� �he proper�y insured, the then current replacem�nt valu� v� such property, and the manner o�determining thafi value; and �5� the expirativn date ofi the p�li�y. Trustvr shall. upon request af Lender, ha�e an independent apprais�r sa�isfactory�a Lender detsrmine the cash�alue replac�ment cas� �f the Prvperty. LENDER"5 E�CPENDITURES. If any actian or praceeding is comm�nced that would rnate�ially a�fiect L�nd�r's interest in th� Proper�y or if Trustor fails �� cvmp[y ►rvith any provisian vf�his aeed ❑f Trus��r any Related Documen�ts, including hut not limi��d to T�ustor"s failure to c�mply with any obligation to maintain Exis�ing Indebtedness in g�o� standing as required �elouv, ❑r to discharge �r pay when due any amounts Trustor is required t�discharge ar pay under this Deed�f Trus� or any Related Qocuments. Lende� vn Trustor's �ehalf may {but shall nvt be ob[igated �o} take any ac�ion that Lender d�ems appropriate, including but not limi�ed ta discharging ar paying afl taxes� liens, security �nterests, sncumbrances and other claims, at any time ievied or placed on the �rap�rty and paying afl costs for insuring� ma�ntaining and preserving the Property. A�I such �xpenditures incurred or paid by Lender for such purposes will then bear in�erest at the rate charged under the Not� fr�m the date incurred or paid by Lender t� the date of r�paym�nt by Trust�r. A11 such �xpenses wil! becvme a part o� �he Indeb�edness and, at Lender's optian, wi�l �A� be payable on dernand; �B� be added to the balance of the N�te and be apportioned amvng and be pay�ble wi�kh any installment payments �a hecome due during either {1� �he term of any applicabl� insurance policy; or {�} �he r�maining term af the Not�; or �C} ,be trea�ed as a bal�oon.paym�nt which v►rill be due and payabE� at the Not�'s maturity. Th� aeed af Trust alsv wil� se�ure paym�nf af these amounts. Su�h right shall be in addition t� a11 o�h�r rights and remedies �� whi�h Lender may be�ntitled upon aefault. VIIARRANTY: flEFENSE�F TITLE. The fvliowing proWisions rela�ing t�ownership o�the Property are a parfi of this �s�d of Trust: Title. Trustor warrants �hat: �a� Trustor holds govd and marke�ab�e title of reco�-d to �he Property in fee simple. free and clear of all liens and encumbran�es �ther fihan �hose se� f�rth in the Real Property description or �n the Ex�stin� Indehtedness section below or in any title insurance policy, title repor�, or final �itle opini�n issu�d �n fa�or o�F, and ac�ept�d by. Lender in connection with this aeed af Trust, and {bf Trus'�ar has th� fu1! right, powe�, and authority to execute and d�liver this Deed of Trust to Lender. Defensa af Ti�1e. Subject to the excepti�n in the paragraph aboWe, TrustQr warran�s and will fore�er defend �the �itl� t❑ �he Proper�y aga�nst the lavufu! claims a�al1 persvns. In the event any action �r pr�ceeding is commenced that questions Trustor's t�tle ar the interest af Trustee �r Lender under this Deed ofi Trust.TrustQr shall defend the a�tion at Trustor's expense. Trustar may be the nvminal party in such proceeding, but Lender shall be entitl�d#o participate in �he praceeding and tv be represented in the proceeding by counse[ of Lend�r's �wn chvic�f and Trustor will deliver� �r cause tv be deli�ered, to Lender such instruments as Lend�r may request fr�m time to time t� permit su�h parti�ipa�i�n. Campl�an�e With Laws. Trustor warrants that the Property and Trus��r's use o� the Property complies with all existing applicabl� laws,ordinan�es, and regulat�ons af governmental authorities. Sur�i�al vf Repressntatians and 1�Varranties. Aff representationsf warranties, and agreem�nts made �y Trustor in this ❑e�d vf Trus�shall sur�i�e �he execution and deli�ery�f this Qeed of Trust, shall be canfinuing in na�ure. and sha�l remain in�ul�force and effect un�til such time as B�rrower's Indeb�edness shal� be paid En full. ExIST1NG INDEBTEDNESS. The fol�awing provisions cancerning Existing lndebtedness are a part❑f this Deed of Trust: Existing Lien. The I�en o�F this ❑eed vf Trust securing the Indebtedness may be secandary and in�erior to an existing lien. Trustar expressiy co�enanfis and agrees ta pay. vr see to the payment of, the Existing Indebtedness an�to prevent any defau�t on such inde�tedness, any default under the instruments e�iden�ing such indebtedness,