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� ��14�1355
<br /> DEED �F TF�LJ�T
<br /> 1Lo�r� No: 7�������a ��o�lt��ued� Pag� �
<br /> in any way by any act, omission or de�ault af Trustor ar any o�her person. Shauld �he Reaf Property be IoGated in
<br /> an area designa�ed by the Director of�he Federal Em�rgency Managemen�Agen�y�s a �pe�ia[ f[Qod hazard area,
<br /> Trus�or agrees �o �bfain and main�ain Federal Ffaod lnsurance, if a�ai[ab��:. �or the fu[� unpaid principa! baiance of
<br /> �he loan and any prior [iens on fihe property se�u�-�n� �he la�n, up to the rnaximum p�licy limits set under the
<br /> IVationaI F[aod lnsuran�e Pragram, or as vthe�wise requ�red by Lender, and to maintain suGh insurance for fihe terrr�
<br /> of the loan.
<br /> AppIi�ativn of Pro�eeds. Trustor sha11 prflmpt[y notf�y Lender o-�any fass or damage to �h� Property. Lender may
<br /> make proof o� [oss if Trustor �ails to do so within fifteen {15} days vf the casua[�ty. VIlhe�her o� nv� Lender`s
<br /> s�curi�y is impaired, Lender may, at Lender's elec�ion. rece3�e and retain �h� proceeds of any insurance and apply
<br /> fhe prac�eds �o the �-educ�ion o�the [ndebtedness, paymen� of any [ien affe��ing the Praperty, �r the restora-tion
<br /> and repair❑f the Property. �fi Lender elects to apply the proceeds ta restaratifln and repair, Trustor sha�! repair or
<br /> repla�e the damaged or destroyed lmprovements �n a manner satisfiactory t� Lend�r. Lender shall, up�n
<br /> satisfae�ory proof af such expendi�ure, pay or reimbu-�se Trus�c�r from the proceeds €p� the reasonab�e cost o�
<br /> repair or restoratian i� Trustor is no� in d�fauit under �his Deed af Trust. Any prviceeds which have nat be�n
<br /> disbursed wi�hin 18� days after their receipt and which Lender has not committed to the repair or resto�rat�on of
<br /> the Pr�perty sha[� be us�d first to pay any amaunt owing�o Lender under this Deed of Trus�, then tv pay accrued �
<br /> in�erest, and the remainder, i� any, sha�l �e app[ied to �he pr�ncipa[ balance of the Indeb�edness. [� L�nder ho�ds
<br /> any p�viceeds a�Fter payment rn �u11 of the [nde6tedness; such proceeds sha�! be paid to Trusto�- as Trustor's
<br /> in-�erests may appear.
<br /> LENDEF�'S E)CPENDITURES. 1� Trustar fai[s {A} �o keep th� Prop�rty free �-� all �axes, liens, securifiy interests.
<br /> encum��-ances, and v�h�.r c[aims, {B} to pra�ide any requ�r�d insuranee on the Prvperty, or {C� �v make repairs to the
<br /> Prop�rty then Lender may da so. l� any action or proceeding is commenced that wouCo mat�rially afFec� Lender's
<br /> in�erests in the Prvperty, �hen Lender on T�us��r's behal�F inay, but i5 no� r�qurred tor take any ac�ion that Lende�-
<br /> be[ieves ta be appropriate�o pro�ec�Lenderrs int��ests. All expens�s incurred vr paid by Le.nder far such purposes wiE�
<br /> then bear'rn�erest at fihe ra�e charged under the Note fram the date incurred or paid hy Lender to the date o�repayment
<br /> by Trustor. �1i1 such expenses will become a par�ot the lndeh�edness and, at Lender's optian, wi[! {A� }�e payable on
<br /> demand; �B} be added to the balanCe of the Note and he apportioned amvng and �e payabte with any ins�a[[rr�ent
<br /> payments �v become due dur�ng either ��} �he term af any applicab[e insurance po�icy; or ��} the remain�.ng term of
<br /> the No�er or �C} be fireated as a ba�ioon �ayment�rvhich will be due and payable at�h-e Note=s ma�urity. The Deed ofi
<br /> Trusf alsa will se�ure payment of these amounts, The rights p�ovided fvr in this paragraph shali I�e in addi�ion to any
<br /> a�her righ-�s or any remed�es fio which Lend�r may he entit�.ed on account of any defau[t. Any such a�tion by Lender
<br /> sha[[ not be cons�rued as curing the de�auit�o as fio ba�-Lender�rom any remedy that it otherwise wau�d ha�e had.
<br /> WARRANTYr DEFENSE aF T[TLE. The.following pro�isions relating ta ownership of th� Property are a pa�of this Deed
<br /> o�f Trus�:
<br /> Tit1e. Trustor warr�nts �hat: �a� Trus�or holds good and marketable ti�le of record to the Prape�-ty in fiee simp[e.
<br /> �Free and c�ear �� alI liens and �ncumbrances v�her fihan those set for-th in the Rea[ Property description o�- in any
<br /> title insurance policy, ti�Ie rep�rt� vr tinaf title apinion issued in �a�ar af, and accep��d by, Lender in connection
<br /> vvith-this Deed of Trust, and �b}Trust��-has the fu11 righ�,povve�, and authvrity to execufie and d�1��er this Deed af
<br /> Trust�o Lender.
<br /> De�ens� o�T`r�Ie. 5ub�ect tv �he excep�ion in the pa�agraph abo�e, Trus�or virarrants and will fore�er detend the
<br /> �itle ta�he Properky against the Iaw�Fui G[aims o�ai[ p�rsons. ]n the evenfi any activn or prvc�.eding is commenced
<br /> that questions Trus�tor`s title or the inte�est of Trus�ee�r Lender under this Deed of Trust,Trust��shall de�Fend fhe
<br /> actEon at�rus��r's expense. Trustor may he �he nor�inal party in such prv�eeding, hut Lender shai� he �ntit�ed to
<br /> partici�a�e �n th� proceed��g and to be repres�nted �n -�he proc�eding by counse! of Ler�der's own choice, and
<br /> Trus�or will deli�er, or cause to be deji�ered, to Lender such instruments as Lender may request�rom �ime�o time
<br /> �v p�rmi�such participation.
<br /> Comp[iance With Laws. Trus�or virarrants tha� the Praperty and Trustar's use �� th� Property comp[E.es with all
<br /> exis�ing appl�cable laws,a�dinances, and regufations of gvvernmen�a[authorities.
<br /> Sur►rival o�r Promises. All prvmises, agreements� and statem�nts Trus�or has made in �his Deed of Trus� shall
<br /> surviWe�he e�ecutivn and defiWery of this Deed vfi Trust, shalr be eon�inuing in nature and sha�� remain in �u�� fvrce
<br /> and effec-�unti�such�ime as Borrower's Indebtedness is paYd in fuli.
<br /> ��NDEii1IN,�Ti��Ve The fol�owing provisians re[a$ing to�and��na�eon p�oceedings are a part of tnis.Deed of Trust:
<br /> P�o�e�d��n�s4 �f any p�-viceeding dn ��ndem�a�ion is filed� Trust�r sha11 prn�nptly nv�if� Lender in wri�ing, and
<br /> �frustor shafl prvmptly�a�e such s�eps as rna� �� ���essary�� de€end �he acfiior� and obtain the award. T�-us�or
<br /> may be�he norr�i�a[ party in s�c� �roce�ding, bu�Lender�hal1 �e�nti�[ed�� �ar�Q�ipa�e�in�he�roceedin� and tv b�
<br /> a�epresen�ed �n �he praceeding by counsei �f ets v�srr� ��oiceE and Trustor wi[[ deEiver or cause to be deli�ered �o
<br /> Lender such instrumen�s and documenta�ion as ma}� be requested by L�nder fr�rn time �o t�rne to permit sueh
<br /> parfic�pation. �
<br /> App�icai�ion a�Net Pra�eeds. �f a�� or any part of�he Prvper-ty is condemned by eminen�domain proceedings or by
<br /> any pr�ceed3n� �r purchase in Iieu vf condemna�ivn, Lender may at its electi�n require tha�a!I or any por�ion of the
<br /> net proceeds of �he award be appli�d to the [ndebtedness or the repai� v� restora�ion o�F the Proper�y. The net
<br /> prviceeds o-�the awa�d sha1� mean�he award afte�r paymen�vf alf reasonabie cos�s, expenses, and attorneysr fees
<br /> incurred by Trustee or Lender in connection tinrith th�condemna��on.
<br /> [1V�P�SiYI�N aF TAXES, FEES AN.D CF�I��iCES �3y �p11ERNMENTAL�1UTH���T1`ES. The �oIIo1►ving pro�isions re�ating
<br /> �o gflvernmen�a[ta�ces,�ees and �ha�ges ar�a par�of this[J�ed o�Yrus�:
<br /> �u�-rent Ta�ces, Fees �nd �ha��es. Upvn re��rest b� Le�de�; �"r�xsto�-sha�� execu$e su�.h d�eurnents in add�t�ot� t�
<br /> �his �eed o�Trust and tak� �rha�e�er�ther aC�ion �� rec�u�s�ed by L�nder t� �e�e��t and c�nt�nue �.ender°s ��en ar�
<br /> fihe Rea� Proper�y. Trus�or sha[[ reimburse Lender for all taxes, as descri�aed be[ovv, ��gether wd�h aee expenses
<br /> fncurred in recording, perfecting ar cantinu�ng �his Deecl o� Trust, inc[ud�ng withou� limi�ation a[� tax�s, �ees,
<br /> dvcumentary stamps, and other charges�or recvrding or regisfiering this Qe�d of Trust.
<br /> Taxes, The �o[Iowing shall consfiitu�e �taxes to which this section applies: (�} a specific ta� upvn this type o�F
<br /> De�d af Trus� or �pon all or any part of the lndeb�edness secured by this Deed of Trus�; 42� a spe�ific tax an
<br /> Barrower vuhich Borrower is authoriz�d or required �o deduct from payments an the lndebtedness secured by this
<br /> type of Deed of Trus�; �3} �tax on this type of Deed of Trus�chargeabl� against the Lender or the holder�f�he
<br /> No��; and t4} a specific tax on af[ or any por-��on o� �he lndebt�dness or on payments �� principal and interest
<br /> made by Bvr�-ov►rer.
<br /> Subsequent Taxes. 1� any tax tv whic� this secti�n applies is �nac�ed subsequen-� �o the date v� this Deed o�
<br /> �rusts �h�s event sha11 ha�e �he same effec-� as �r� E�en� o� Defaul�P a�d Lender r�tay exerc�se any or all o-� �ts
<br /> a���lable r-e�edies �o� an ��rent o� �]efaui� as p���ided b�[ov►� unl�ss Tr�stor ei�he� ��} �ay� �he ��� befare �t
<br /> becorx�Es delinquent, or ��} �vn�es�s the ta�e as �r��idec� abo�e �n �he Taxes and ��eras section ar�d depos�ts wit�
<br /> Lender cash or a suffi�ien�corpvrate surety bonc�o�-��her secure��satis���t�ry�o Le�der.
<br /> SECURI f�C AGREEMENT; FlNANC�NC STATEi11iENTS. The �fo[�owi:ng pro�isions rela�ir�g to �his Deed of Trus� �s a
<br /> security agreement are a part o�this Deed of Trust:
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