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-� ��14��S9S
<br /> � -
<br /> - DEEC� �F TRUST
<br /> Loan No: '1���73�49 �Continued} Page 4
<br /> Maintenance v� insurance. Trus�or shall procure and maintain �policies v� fire insurance with standard extended
<br /> caverage endorsements an a fair �alue basis for the full insurable �alue cv�ering aI� lmpr��ements an the Real
<br /> Praper�y in an amaunt suffi�ient to a�oid appli�ation v�F any coinsurance clause, and with a standard martgagee
<br /> �lause in fa�or of Lender. Trus�vr sha�I alsa pracure and maintain camprehensiWe�eneral liability insurance in su�h
<br /> ca�erage amounts as Lender may reques� wi�h Trusfiee and Lender being named as additional insureds in such
<br /> liahili�y insu�ance policies. Addi�iana��y� Trustor shall maintain such ather insuran�e, including but nvt fimited t❑
<br /> hazard, business interrup�ion, and bai�er insurance, as Lende�- may reasonab�y require. Pol�cies shall be wri��en in
<br /> form, amvunts, co�erages and basis reasonably acceptab�e �❑ Lender and issued by a company or companies
<br /> reas�nably, accep�ahle t� Lender. Trustor, upon request vfi Lender, will deli�er �❑ Lender �ram time fio time the
<br /> poli�ies or �erti�icat�s o�insu�ance in �arm satisfactory�❑ Lender, in�luding stipulations tha�k co�erages will nvt he
<br /> can�elled ❑r diminished wi�hau� at least ten ���} days prior written notice fia Lender. Ea�h insurance policy also
<br /> shall inciude an endarsement providing�ha�co�erage in fa�or af Lender wi�� not be impaired in any way by any act,
<br /> omission or defaul� of Trustvr or any ❑ther person. Should the Real Praperty be loca�ed in an area designa�ed by
<br /> the D'€rec�vr❑�the Federa� Emergency Management Agency as a specia��Ivod hazard area, Trustor agrees to ah�ain
<br /> and maintain Federa� Fload #nsuranc�, �-� a�ai�ab�e, within 45 days after no�ice is gi�en by Lender that the Property
<br /> is located in a specia� flood hazard area, �or the fulf unpaid principaf balance v��he �oan and any prior fiens �n fihe
<br /> praperty securing the loan, up to the maximum policy limits sefi under the Na�ional Flood Insurance Prvgram, or as
<br /> o�herwise r-equired by Lender, and t� main�ain such �nsurance for the term o�fihe laan.
<br /> Applicatian o�Pro��eds. Trusfiar shal[ promptly nat�#y Lender a� any [ass or damage tv fihe Prope�ty. Lender may
<br />, make praaf o�F lass if Trustvr �ails to da so wi�hin fi-f-teen �15� days o-� the casua�ty. Whether or not Lender's
<br /> security is impaired, Lender may, at Lender's elec�ion, recei�e and retain the proceeds af any insurance and apply
<br /> �he proceeds �o �he reductivn of the Indebtedness, payment o� any lien a��ec�ing the Prope�ty, ❑r fihe restora�ian
<br /> and repair v�the Property. lf Lender elects -�❑ apply the prnceeds to restora�ian and �-epair, Trust�r shall repair or
<br /> r�place �khe damaged or destroyed lmpro�emenfis in a manner sa�isfactory to Lender. Lender shall, upon
<br /> sa�isfacfiory proaf af such expenditure, pay or reimburse Trustar �ram �he praceeds for the reasana�le C�St ❑f
<br /> repair ❑r res�ora�ion if Trusfior is no� in defaul� under this Deed o� Trust. Any pro�eeds which ha�e na� been
<br /> disbursed within �8D days af�er their rece�pt and which Lender has nat committed �❑ the repair or res�oration of
<br /> fihe Praperty shall be used firsfi�v pay any amount ❑wing tv Lender under�his ❑eed a�Trust, then fio pay accrued
<br /> interes�, and the �-emainder, �� any, sha�[ be applied t❑ �he principa� bafan�e o�F the Indebtedness. lf Lender holds
<br /> any proceeds a-�er payment in full o�f the lndebtedness, such proceeds shall be paid tv Trusfior as Trusto�-'s
<br /> interests may appear.
<br />. Compliance wi�h Existing �ndebfedness. �uring the period in whi�h any Existing Indebt�dness described belvw is
<br /> in ef�e�t, campliance wi�th the insurance prv�tsions con�kained in the insfirumen� e�idencing such Exis�ing
<br />' Indeb�edn�ss shall constitute compliance wi�h �he insurance pro�isions under �his ❑eed of Trust, �o fihe exten�
<br /> campliance with �h� terms ❑f�his ❑eed ❑f Trust would constitute a dup�icafiian ❑�F insurance requiremen�. lf any
<br />; proceeds fram the insuran�e be�ome payable ❑n foss, �he pro�isions in this Deed of Trust far di�isivn ❑fi proceeds
<br />' shall apply anly to�ha�por�ion a�the proceeds no�payable to�he hv�de�-❑f the Exis�ing lndeb�edness.
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<br />� Trustor's Report vn �nsurance. Upon reques�of L�nder, hawe�er nat mvre fihan once a year, Trustor shall furnish
<br /> fio L�nder a report on ea�h ex�sting poficy of insurance showing: {�} the name af the insurer; ��} the risks
<br /> insu��d; �3� fihe amoun� ❑� the policy; t4} the property insured, the then current �eplacement �alue ❑f such
<br /> praperty, and the manner of determining that�alue; and �5} the expira�ian da�e ❑f the policy. Tr.us�or shall, upon
<br /> request of Lender, ha�e an independen�app�aiser sa�isfactory�a Lender determine the Gash�alue replacement cast
<br /> vf the Property.
<br /> LENDER'S EXPEN�ITURES. ff any ac�ion or proceeding is cammenced �khat w�uld materia��y affect Lender`s interes� in
<br /> the Prope�ty o� if Trustor fails�o comply with any pro�€s��n ❑f this Deed vf Trust vr any Related Documents, including
<br /> hu� not �im���d�o Trustor's faiiu�e to comply with any ob�iga�ion tv ma�ntain Exis�ing fndebtedness in gaad s�anding as
<br /> required belvw, ar tv discharge ❑r pay when due any amoun�s Trust�r is required ta discharge❑r pay under�his Deed o�
<br /> Trus� vr any Related Documents, Lender on Trus�or's beha�� may {hut shall nat 1ae obliga�ked to} tak� any actian that
<br /> Lender deems appropria�e, including but no� limi�ed t❑ dis�harging ar paying all �a�ces, liens, securi�y interests,
<br /> encumb�ances and other claims, afi any �ime le��ed or placed on �he Property and paying a�� cosfis �or insuring,
<br /> maintaining and p�eserWing �he Property. Ai! such expenditures incurred or paid by Lend�r far such purposes will �hen
<br /> t�ea�- interest at the rate charged under fihe No�e #rom the dafie incurred ar paid by Lender�o �he date ❑f repaymen� by
<br /> Trustfl�. All such expenses will become a par� of�he lndebtedness and, at Lender's aption, will �A} be payahle vn
<br /> demand; �6} be added �a �he balance ❑f �he Nvte and 1ae apportEoned am�ng and be payable with any ins�a[Imen�
<br /> payments to become due during ei�her �1} fihe �erm ❑� any applicahle insurance policy; or ��} the remaining term vf
<br /> the Note; vr {Cy be �reated as a ballovn payment which will be due and payable at�he N�te's maturity. The Deed of
<br /> Trust also wii� secure payment af these amounts. Such righ� shall be in addifiion to all ❑ther rights and remedies to
<br /> which Lender may be entitled upon �efau�t.
<br /> V�lARRANTY; DEFENSE�F TiTLE. The�ol[awing pro�isions relating to ownership o�the Prvperty are a part of-this ❑eed
<br /> vf Trust:
<br /> Ti��e. Trustor warrants that: {a� Trustor ho[ds gaod and marketah�e �title af record t❑ the P�oper�y in �fee simp�e,
<br /> free and clear o� all liens and encumbran�es ❑�her than those set forth in �he ReaE Property descrip�ion ❑�r in the
<br /> Existing Indebtedness sectian belaw ar in any title insurance palicy, title report, vr�inal�itle apinivn issued in�a�vr
<br /> af, and accep�ed by, Lender in connectivn wi�h �his Deed of Trust, and �b} Trus�or has �he full righ�, power, and
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