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��14�147�
<br /> vEEt� oF TRu�T
<br /> Laan No: 1�1274�39 ��on�tinued� Page 4
<br /> the Director of th� Federal Emergency Mana�ement Agency as a speGiai flovd hazard area�Trust�r agr�es�o abtain
<br /> and maintain Federal Ffood lnsurance, if a�ai�abie, f�r the fuli unpaid principa� balan�e of �he loan and any priar
<br /> liens on the prflperty securing �he Ioan, up to �he maximum po�icy limits set und�r the NatEonal Flaod Insurance
<br /> Program, or as o�herwise required by Lender, and�o maintain such insurance fvr�he term of the Ioan.
<br /> Appiicat�on of Pro�eeds. Trustar sha[I promp�[y notify Lender��any loss or damag� t� �he Praperty. Lender may
<br /> make proof af �oss if Trus�or fails tv da s� wi�hin fifiteen {�5} days �� the casua�ty. Whe�her ar not Lender's
<br /> security is impa�red, Lender may, at Lender's election, receive and retain the proceeds o�any insurance and apply
<br /> th� prflceeds t� the r�ductian of the Indebtedness� payment of any lien affecting th� Property, or the restvration
<br /> and repair tif the Praperty. if Lender elects to apply�he praceeds �o restoration and repair, Trustor shalC repair ar
<br /> replace �he dama�ed ar destrayed Impro�ements in a mann�r sat�sfactary to Lender. Lender shail, upon
<br /> satisfactory pravf of such exp�nditure, pay or reimburse Trus�or from the proceeds f�r the reasonabl� cast o�
<br /> repair or r�storafiion i�f Trustor is n�� in defaul� und�r �his Deed of Trus�. Any proce�ds which haWe not been
<br /> disbursed within �8D days after their receipt and which Lender has not �ommitted to the repair or r�storation �f
<br /> the Prvperty sha[I be used first ta pay any am�un� �win� fi� Lender under this ❑eed ofi Trust, then to pay accrued
<br /> in�er�st, and the r�mainder, if any, shall he applied to the principal balance af the [ndebtedness. l� Lender holds
<br /> any p�rac�eds a�Ffier payment in fu!! vf the lndebtedness, such praceeds shall he paid t❑ Trus�or as Tr���tor's
<br /> interes�s may appear.
<br /> T�rustor's Report on �nsurance, Upon requ�st of L�nder� howe�er not more �han once a year, Trus�or shall furnish
<br /> to Lender a repart �n �ach existing policy ��r insuran�e showing: ��� the name of the insurer; �2} fihe risks
<br /> insured; �3� the amount af the palicy; �4} the prnp�rfy insure�. the then Gurrent replacem�nt �alue of such
<br /> praperty, and the manner o�de#erminin� that�alue; and t5� �h� �xpirat�on date of the policy. Trustar shall� upon
<br /> request�f Lender, have an independent appraiser satisfac�ary to Lender det�rmine the cash�alu�rep�acement cast
<br /> of the Property.
<br /> LENQER'S E�PENalTURES. If any action or pr�ceeding is comm�nced that would ma�erially a�f�sct Lender's �n�eres� in
<br /> the Property ar if Trustor fails to cornp�y with any provisivn ❑�f this Deed of Trust or any R��ated Documents, including
<br /> but nvt limited ta Trustor's failure to discharge or pay when due any am�un�s Trust�r is r�qu�red to discharge or pay
<br /> under this aeed o�Trust or any Related D�cuments. Lender an Trustor's behaif may {but shall not be obliga�ed to� take
<br /> any action tha�r Lender deems appropriate, including but not limited tv discharging or paying al! taxes, liens. security
<br /> interests,�ncumbrances and ather claims, at any time �e�ied or placed vn the Proper�y and paying all casts f�r insuring,
<br /> maintaining and preser�ing the Property. All such expend�tures incurred ar paid by Lender for su�h purposes w�ll then
<br /> bear inter�st at the rate charg�d under the Note �rom the date incurred or paid �y Lender t� �he date of repayment by
<br /> Trustor. All such �xpenses ►rvill be�ome a part of the Indeb�edness and. at Lender's optivn. wi�l �A� be payable on
<br /> demand; �6� be added to �he balance of the Note and b� apportianed amang and be payable wi�h any installment a
<br /> payments to bec�m� due during either {�� the �erm of any applicable insuranc� policy, ar {�� fihe remaining term of
<br /> the Nofie; or {C} �e �reated as a ba[loan payment which rrvil� be due and payable at�he Not�'s maturity. The aeed of
<br /> Trus� also �rvill secure payment vf these amoun�s, Such right shal! be in addition �o all other rights and remedies to
<br /> which Lender may be entitled up�n De�aul�.
<br /> V1IARRANTY; DEFENSE�F TITLE. The�oll�win� pro�risions relating tv �wnership af th� Prop�rty are a part o�this D�ed
<br /> vf Trust:
<br /> Ti�le. Trustor warrants tha�t: {a} Trust�r holds g�ad and rnarketab�e �kitle of recnrd to the Property in fee simp�e.
<br /> �ree an� clear of al1 l�ens and encumbrances �th�r �han those set for�h in th� Real Praperty description or in any
<br /> ti��e insurance policy, �it[e report, or final titl� opinion issued in fa�or of, and accepted by, Lender in connectivn
<br /> wifih this Deed o�Trust, and �b}Trust�r has the fu[I right, power, and autha�ity t�execute and de�iver this a��d��
<br /> Trust to Lender.
<br /> Defense ��Title. Subject t� the ex��ption in the paragraph ahove, Trustar warrants and wilf fvre�e� de�end the
<br /> ti�le to the Prvperty againsfi the law'�ul claims ❑�all persan�. ln the �ven� any a�tion or pr�ceeding is comm�nced
<br /> tha�questions Trustor's title or the interes�of Trus�ee or Len�er under this Deed o�Trust, Trustor shall defend the
<br /> actian at Trusto�'s expense. Trus�kvr may b� �he nominaf party in such proceeding, but Lend�r shall be entitled �o
<br /> participate in the pro�eeding and fio be represented in the pr�ceeding by c�unsel af Lender's own choicef and
<br /> Trusfior will d�li�er� vr cause t� be deli�ered, tv Lender such instrumen�s as Len�er may request#rom time to time
<br /> ta permit such participation.
<br /> Comp�ian�e VI1i�h La►rvs. Trustvr warrants �ha� �h� Proper�y and Trust�r's us� of th� Proper�y camplies with all
<br /> �xis�ing appli�able laws. ardinances, and regulativns af go�ernmenta� authorities.
<br /> Sur�ir►a[ of Representat�ons and Warranties. A11 representativns, warranti�s, and agreements made by Trustor in
<br /> this Deed of Trust shall sur�i�e �he executivn and delivery of this aeed of Trus�, sha[l be �ontinuing in nature, and
<br /> shal�remain in fu[l force and�ff�ct until such fime as Borr�►►ver's lndebtedness shal� be paid in full.
<br /> C�NDEIVINAT��N. The foll�wing proWisi�ns relafiing ta condemna�i�n praceedings are a part�f th�s De�d nf Trus�:
<br /> Proceedings. I�f any praceeding in condemnation is fi[ed, Trus�o�- shall promptly notify Lend�r in wri�ing, and
<br /> Trustar shall pr�mptly take such steps as may be necessary to defend fihe ac�ion and �btain the av►rard. Trustor
<br /> may b� �th� nominal party in su�h praceeding, but Lender shali be entitled tv par�icEpate in th�proceeding and to be
<br /> represented in �he proceeding by counsel of its own �h�ic�, and Trustor will deli�er or cause ta be dsli�ered to
<br /> Lender such instrumen�s and documen�ation as may be requested by Lender from time �o time to p�rmit such
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