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<br /> �EE� �F TRu�-r
<br /> r
<br /> Loan No: 57���9��5 an��r�ued} Page 3
<br /> insurance po��cy alsv shal� include an endorsement pra��ding tha� co�era�e in fa�or o� Lender wiii not be �mpaired
<br /> in any way by any act, omission or defauit a�Trustor or any other person� Should the Rea[ Pro�er-ty be located in
<br /> an area designated by�he ❑irector of the Federa[ Emergency Nian;agement Agency as a spe�ia! -�laod hazard area,
<br /> Trusto� agrees to ob�ain and maintain Federa� F[ood [nsuran�e, i� a�aifab[e, for�he maximum amvunt of Trustar's
<br /> credEt �ine and th� �u�l unpaid principal balance of any privr [i�ns vn the prvperty securing the 1oan, up tv �he.
<br /> maximum po[i�y limits se�under-�he Nafiiona[ Flood lnsurance Program, or as otherwise required by Lender, and ta
<br /> maintain such insurance�or the term of�he ioan.
<br /> Applicativn of Proc�eds. Trust�r shall prompt[y not�fy Lender of any lass or damage t� the Prvperty. Lender may
<br /> make proof o-� [�ss �� Trus�or €ails to do sa wi�hin -�if-�een {'f 5� days o�f the casua[ty. Vllhether or no� L�nder's
<br /> security is impair�dr Lender may, at Lender's e[ectionr reeei�e and retain the proceeds o�any insu�ance and apply
<br /> the proceeds to the reductivn of th� lndeh�edness, payment of any I�en affecting �he Property, or �he restoration
<br /> and repair��the Praperty. [f Lender elects to apply the.pro�eeds �o restoration and repa.ir, Trustor shal� �epair or
<br /> replace the damaged v� destrvyed �mp�o�ements in a manner sa�isfactory �o Lender. Lender shal[F upon
<br /> sa�isfactvey proaf of such expendi�ure, pay ar reimburse Trustor from the proc�eds for -the reasonable cos� af
<br /> repair or restorat�on if Trust��- is not in de�ault under this Deed ofi Trust. Any prv�eeds wnich ha�e not been
<br /> disbursed v�rithin �SQ days after�heir receip� and which Lender has not commitEed �v the repair �� restvra�ion o€
<br /> the Prvperty sha�! be used �irst to pay any am�unt��nr�ng to Lender unde�-�his Deed o�Trust, �hen �o pay accrued
<br /> interesf, and the remainder, if any, shaii be applied to the principal ba[ance o�F the lnd�bfiedness. lf Lender ho[ds
<br /> any pr�ceeds afrter payment in �uii of the [ndebtedness, such proceeds sha�� be pa�d to Trus�or as Trustor°s
<br /> in�erests may app�ar.
<br /> LIE�IDER'S �PENDI`fURES. l� T�-us�or fal[s {A} �o keep the Proper�ty �ree �f a�� ta�€es, liens� securi�ty interes�s,
<br /> encur�brance�, and ��her clair�s, �B} to pror�ide any required insurance�n�he Property. or �C} to make repairs to the
<br /> Proper�y then �ende� may do so. �f an� action ar proceeding �s cvmmenc�d tha� �rvvu[d rr�aterially atFect Lender's
<br /> interes�s in �he Properryr then Lenci�r an Trus�or`s behalf rnay, but is nvt required ta, take any action that Lender
<br /> belie�es ta be appropria�e to prvtect L�nder's interes�s. All ex�enses incurred or paid by Lender for such purposes wi�1
<br /> then �ear interes� at the ra�e charged under the ���dit Ag,reement€rom�he da�e ineurred or paid by Lender�o the da�t�
<br /> of repaymenfi by Trustor. A[[ such expenses w�ll b�come a par-� vf the lndeb��dn�ss and, at Lender's option, will {A}
<br /> be payable on demand; {B} be added to the balance a� �he C�edit Agreemen� and be apportianed amflng and be
<br /> payaE��e with any ins�aIlment paymen�s to become du� during either {'�} �he term of any app[icable insuran�e palicy; o�
<br /> {�} the remaining term of the �red�t Agreement; ar {C} be treated as a ba��oon payment which wili be due and payab[e
<br /> at�he Credit Agreernent's ma�urity, The Deed of Trus�also v►ri[�secure payment o��rF�ese amounts. The �-�ghts pra�ided
<br /> �For in this paragraph shaif be in addi�ion�v�ny o�ther rights or any remedies to �rvhich Lender may be entitled on accvunt
<br /> v� any de�ault. Any such ac�ian by Lender sha[[ not be construed as curing -tFie de�fault s❑ as to bar Lender from any
<br /> r�rneay that it atherwise v�raufd ha�e had.
<br /> �e4�iRA�NTI'; DEFEIV�E�F T�TLE. The�a[Iowing �r��isions relating�o v�rvnership vf the Property are a part o�this Deed
<br /> o�Trust:
<br /> TY�I�r Trusfior warran�s that: {a} Trustor ha[ds gvod and marketable title of reeord ta the Property in -�ee simple,
<br /> firee and clear of a[[ �i�ns and encumbrances o�her than those set fortF� in the Rea[ Prvperty des�ription or in any
<br /> �it[e �nsurance po[icy, ��tle report, ar fina[ title op�nion issued �n �ra�or o�, and accepted hy, Lender in connec�ion
<br /> with�his Deed o�Trust. and �b} Trus�or has the fu[� r�gh�; power, and authority�o execute and deliWer�his Deed of
<br /> Trust�o Lender. �
<br /> Defense vf TitIe. Subject to the exceptian in the paragrapFi ab�ve, Trustvr warrants and will fvreWer def�nd the
<br /> tit[e to th� Prvperty a�ainst the �awfu[ c[aims o�a[� persons. ln the ��ent any action or proceed�ng is commenced
<br /> that qu�stions�rust€�r's�itle ar�he �nt�res�af Trustee�r Lend�r under-�his Deed of Trust,Trusfior sha3� defend �the
<br /> avfi�on at Trustar�s e�pens�. Trustor may be fihe nominal par�ky in s�ch pro�eeding, b�� Lender sha[[ be er�tit�ed �to
<br /> parti�ipa�e ir� �h� �arac�eding a�d tv be rep�ese:n�e�d in �he ���c�ec�in� b� c��nse[ �� Lend�r4s ovvn choice, and
<br /> Trusta�wi[� deli�er, or cause�c� �ae d��i�ered,to Lende�su�h �rastru�en�� as Lender rr�a� request#rorr�tir�e�o�irr�e
<br /> t� permi���ch part€cipa�ion.
<br /> Comp�ian�e �i�h Laws. Trus�tor irvar�-ants that tf�e Property and Trustvr's use of �he P�oper�y complies with a��
<br /> exis�ting applicabCe [aws,ordinances, and regulations v�governmental author�rties.
<br /> Survi�a[ o� Prvrnises. All promises, agr�emen�s, and sta�ements Trustor has mad� in this Deed of Trus� shall
<br /> survive�he execu�tion and del��ery of�his Deed o�Trus�,sha[[ be continuing in nature and shall remain in fuff far�e
<br /> and ef'��ct un�il such time as Trustar's Inde�tedness is paid in�ufl.
<br /> C�NDEMNATIaN. The fol�owing proWisians refating t❑ condemnation proc�edings are a part o�this Deed v�Trust:
<br /> Pxoce�dings. lf any proceeding in conderY-�na��on 3s filed, �rustor sh�ll promptly notif� Lender in w�-�ting, and
<br /> �rustar shali pror�ptl��ake such steps as may be n�c�ssary�o de�en� the ac�i�n an� obtain the aw�rd. Trus�t�r
<br /> €raa�r be the nvm�€�ai party ir�such�ro�eed�ng, but Lender.shal� be�ent�t�ed�v par�i�ipa�e ir��he p�acee�d�ng ar�d�o b�
<br /> repr�se��ed Er� �he p�oc�eding by counsef �f i�s o��a ��aai��;o and ��-ust�r �nriii de�iv�s- or car�se t� �e deli�ered t�
<br /> Lender su�h instrum�r��s an�i d�cur�er�ta�io�a �� rna� be reque��ed &�� �ender �rorn �irne to �i�e �o perrr�it su�h
<br /> partscipa�io�o
<br /> �p�afica�ivn of 1Vet Pr�ceeds. ff a[[ or any part of�he Proper-ty is conder-r-�ned by eminen�dom�ain proceedings or by
<br /> any proceedfng or purcFiase in lieu v�candemna�ion, Lender may at its e�ection require that a�� vr any portivn of the
<br /> net proceeds of the award be applied �ro the Indebtedness ar the repair vr restoration v� the Praperty. The net
<br /> proceeds of the award shall mean the award airter payment nf a�1 reasonable cos�ks, expenses, and attorneys' fees
<br /> incur�ed by Trustee or Lender in connect"ron with the candemnation.
<br /> ��POS�TI�:1V QF TA�CES, FEES Al1iD CHARGES BY �DVERNMEN�`AL A�ITHDR�TiES. The fallowing pro�isions r�lafiing
<br /> �o governmen-�a[taxes, fees and charges are a part af this Deed o�Trust:
<br /> Current Taxes, Fees and Charg�s. Up�n request by Lender, Trus�or shaf� �xecute such docurnents rn addition �o
<br /> this i�eed o�Trus�and ta[ce whatever o�her acti�rn is requested by Lender to �erfect arad continue L�nder's �ien on
<br /> �he Rea[ �ropertye �rusto� shaEE reirr�burse Lenc�e� �or aI� taxes, as descriE�ed ne�ov�rp �ogether w�th a�l ��c�enses
<br /> incurred in �ecord�ngr perfe��ing or �ont�nu�n� �h�s �eed �� ��-us�, ��cluding wi�hout ���i���i�� a[[ �axes� �ees,
<br /> d�cumentary s�ar�ps, and oti�er��arges�or recorainr� or r�g�s�ering�his Deed��Tr�st.
<br /> Taxes, �he fo[[owing shalt �ons�itut� taxes �o which this sec�ivn app[ies: ��} a specific �a�€ upon �his �yp� of
<br /> Deed ofi Trus� or upon af[ vr any part o� the Cndebtedness secured by this Deed of Trust, {�� a specific tax an
<br /> Trus�or wh�ch Trustor is authqrEz�d or requ3red tv deduc�frvm payments on the �nd�btedn�ss secured by this typ�
<br /> of D�ed of T�ust; �3} a tax on this type o�F�]eed of Trust chargeable against the Lend�r�r the ho�der o�the C�ed��k
<br /> Agreement; and �4} a speci�ic tax on a11 or any por�ion vf the Cndebtedness or on payments o� principal and
<br /> in�eres�made by Trustor.
<br /> Suhsequent Taxes. I� any �a�e �o which �his section applies is enacted subsequent tv �he da�e of this Deed o�
<br /> Trust, th�s e�ent sha[[ ha�e th� sarne ef�ec� as an E�en� of Defau[�, and Lender ma� exercise an� or ali of its
<br /> a�a��able r��nedies �or an lE�en� af �efault as pr��ided be[�� unless Tr�as�or e�ther ��� �ays the �ax before i�
<br /> becornes deiinc�ue�td or ��� �ora�ests the�ax �s prvvided abav� ir th�Taxes and L�e�s sec�iar� and depos�ts wi�h
<br /> �.e�der cas1�or a sufficien-��o��vr�te surety bond�r�ther secu��t�s�t�sfacto�y av Lend�r.
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