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��14��11�
<br /> �EED �F 1�RUST
<br /> Loan No: 'i�'I 27���5 ��ont�r�ued� Page 4
<br /> Program, ar as otherwise required �y Lender, and fi� maintain such insurance for the term o�the Ioan.
<br /> Applica�ion �f Proceeds. Trustor shall pramptly na�tify Lender ofi any loss or damage �o �he Pr�perty. Lender may
<br /> make proof �� �oss if Trustor faiis fo da s� within fif�een {15} days af the casualty. VIlhether �r not Lender's
<br /> security is impaired, Lender may, at L�nder's election, recei�e and �etain �he proceeds of any insuran�e and apply
<br /> �he proceeds t� the re�luction of �he lnd��tedness, payment af any lien a�r�e�ting the Pr�perty, or the r�s�aratic�n
<br /> and repair o#�he Praperty. lf Lender elec�s t� appiy the prviceeds to restoration and repair� Trustor shall repair�r
<br /> rep[ace �he damaged or destr�yed �mprovements in a manner satisfacfivey to Lende�. Lender shall, upan
<br /> safiisfactary prvvf �f such exp�nd��ure, pay or reimburs� Trus�or from the pr��eeds f�r the reasonable cost of
<br /> repair ar restarativn if Trustor is not in default under this Q�ed of Trust. Any pra�eeds which have not been
<br /> d�shursed ►►vi�hin 18� days after their receipt and whi�h Lender has not cvmmit�ed to the repair o� res�oration o�
<br /> �he Property shall be used firs�to pay any amount owing ta Lender under this D�ed of Trust, then ta pay ac�rued
<br /> in�eres�, an� the r�mainder, if anyf shall �e app�ied �to the principal halan�e of the lndeb�edn�ss. Ifi Lender holds
<br /> any pro�eeds after payment in fu11 vf the Indebtedness. such proceeds sha11 be paid to Trus�vr as Trus�ar's
<br /> interes�s rnay appear.
<br /> Trustar's Repvr�on insuran��. [Jp�n r�quest af Lender. hawever not mor�than once a year, Trustar shal[ furnish
<br /> to Lender a repar� on each exis�ing policy of insurance showing: {�} the name of th� insurer; ��y the risks
<br /> • insured; �3} the amount �f �he policy; {4} the property insured, the then current replacement value of such
<br /> property, and the manner of de�ermin�ng thafi�alue; and 45� the expiration dat� �f�he pvlicy. Trus#�r shall� upon
<br /> request o�L�nder, ha�e an independ�nt appra�ser satisfac�ory to Lender determine the cash�alue r�placement cas�
<br /> of th� Property.
<br /> LENDER'S EX�ENDITURES. If any activn ❑r prviceeding is comm�nced that wou[d materialfy affect Lender's interest in
<br /> the Property ar i�Trustor �aEls tv c�mpiy wifih any pro�ision of this Deed a�Trust or any Rela�ed ❑ocuments, incfudin�
<br /> but not limited tv Trustor's failure ta discharge vr pay when due any amoun�s Trus�ar is required to discharge or pay
<br /> under this Deed flf Trust ar any Relat�d Do�uments, Lender nn Trus�ar's �ehalf may �bu�k shal[ not be obligated �o} take
<br /> any action that Lender �eems appropriate, including but no# limit�d to dis�ha��Eng or pay�ng afl taxes� fiens. security
<br /> interes�sr encumbran�es and other claims, at any�ime le�ied or p�aced on the Property and paying al� casts for insuring,
<br /> maintaining and preser�ing �he Property. All such expend�tures incurred or paid by Lender�or su�h purposes wi�l then
<br /> bear inter�st at�he ra�e charged under the Nv�e from the date incurred ar paid by Lender to �he dat� of repaymen� by
<br /> Trustor. All such sxp�ns�s wi[I becflme a part of the Indebt�dness and, at Lender's �ption, will �A} �e payalale vn
<br /> demand; {B� �e added �o the halance of the Nate and be apportioned amvng and be payable w�th any insta�lment
<br /> paym�nts to beGom� du� during e�ther �1} the term �f any applicable �nsurance policy; or �2y the remaining term of
<br /> the Note; a� {C} be treated as a ballvon payment which will be �ue and payab�e a�the Note's maturifiy. Th� 17eed af
<br /> Trusfi also will secur� payment of these amaunts. 5uch righ� shall be En addition to ali oth�r righ�s and remedies to
<br /> which L�nder may�e enti�fed upon Qefault.
<br /> 1NARRANTY; DEFENSE OF TITLE. The foflvwing pro�isi�ns re[�ting�to ownership of the Property are a part of�his Deed
<br /> of Trust:
<br /> Title. Trustor warranfis that: {a} Trustar holds go�d and marketable title of record to the Property in fee simp�e,
<br /> free an� clear ❑�f a�l liens and encumbrances o�her �han those set fo�th in the Real Praperty descrip�i�n vr in any
<br /> ��tle insurance policy. title repar�, ar final �itl� �pinion issued in favar of, and accepted by, Lender in connec�tion
<br /> with this D�ec� o�Trust, and �b� Trustor has the full right, power, and authority ta ex�cu�� and deliW�r th�s Deed of
<br /> Trust ta Lender,
<br /> De�ens� of Title. Subj��t ta th� ex�eption in the paragraph abo�e, Trus�vr warran�s and will �are�er defend the
<br /> title to the Pr�p�rty agains��he lawful c�aims of all persans. In the e�ent any action or praceeding is commen�ed
<br /> that questions Trus�or's�it1e �r the interest o�Truste� Qr Lender under�his aeed o�Trus�, Trustar shall defend the
<br /> �c�ion at Trus�vr's expens�. Trustor may be �h� nominal party in such pro��edin�, but Lender shall be entitled to
<br /> participa�e in �he proceeding and to be represen�ed in �the proce�ding by couns�l of Lend�r's own choice, and
<br /> Trustor wil! deli�er, or cause tv be deli�ered, t� Lender suGh instruments as Lender may requ�st f�om time �o time
<br /> to permit such participati�n.
<br /> Cvmplzance Wi�h Lavtirs. Trustar warrants that the Property and Trustar's use �f the Property carnplies with all
<br /> existing app�icable �aws, ar�inances, and regulativns ot go�ernmenfal auth�r�ties.
<br /> Survival o� Repres�ntations and INarranties. Afl representa�ions, warranties, and agreements mads by Trustor in
<br /> �his D�ed o�Trust shall survive the exe�u�i�n and del�very o�this Deed of Trust, shall 1�e cant�nuing in natur�, and
<br /> shall remain in ful�force and e�F�e�t until such time as B�rr�►►ver's Indebtedness shall be paid in full.
<br /> G�N�EfVINATi�N. The fa�low�n� praWisions relating ta cvndemna�ion proceed�ngs are a part of�his ❑eed of Trust:
<br /> Proceedings. i� any pro�eeding in condemnativn is filed� Trustor shall prompt�y notifiy Lender in writing, and
<br /> Trus�or shal� pramp�[y take such steps as may be necessary to de�end �he actian and ob�ain the award. Trustor
<br /> may be the nominal party in such prvicee�ing, but Lender shal� be entitled to participa�e in the proceeding and ta be
<br /> represented in the proceeding by c�unsel �f its vwn choice, and Trus�vr wili deli��r or �aus� t� be de[iv�red t❑
<br /> L�nder such �nstruments and documentatian as may be requested by L�nder fram time t� time to permit such
<br /> participation,
<br /> Applica�ian of Net Proceeds. lf a[l or any par�vf�he Pr�perty is c�ndemned by eminent domain proc�edings or by
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