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��14��113
<br /> DEED �F TRUST
<br /> Loan Nv: "i�'I 27a1�a ����t��1u�d� Page 4
<br /> Program, or as vtherwise required by Lend�r, and�a main�ain such insurance for�he term��the Ioan.
<br /> Application of Proceeds. Trustor shall promptly no�ify Lender ofi any loss or damage �o the Property. L�nder may
<br /> make proof Qf Ioss if Trus�or fails �o do s� within fiffieen �15� d�ys af the casualty. 11Vhether or nvt Lend�r's
<br /> . security is irnpaired� Lender may, at Lender's elec�ion, recei�e and retain the proceeds of any insuran�e and apply
<br /> �he prQceeds t� the r�ductian Qf the lnd�btedness, payment of any [ien affecting the Proper�y� or �he restoration
<br /> and repair ofi�h� Property, if Lender elec�s �� apply the proceeds to restoration and repair� Trustar shall r�pair or
<br /> replace the damaged or destroyed [mpr�vemenfs in a manner satisfac�ory to Lender. Lender shall, upon
<br /> satis�ac�ory proaf of such e�penditure, pay or reimburse Trustvr �rom the proceeds for the reas�nabl� cos� of
<br /> repair �r res�oration if Trustor is not in default under this Deed o�F Trus�, Any proce�ds which have not b��n
<br /> disbursed within �8� days after th�ir r�ceipt and which Lender has nat cammitted �o �the repair ❑r restvration of
<br /> �th� Pr�perty shall be used first�o pay any amvun�awing �o Lender under this Deed ofi Trust. then to pay a�crued
<br /> interest. and the remainder, if any. sha�l b� applied �o �he principa! balance vf the Indeb�edness. If Lender holds
<br /> any proceeds a�fter payment in full ��f th� Ind�btedness, su�h proceeds shafl be paid ta Trustor as Trustor's
<br /> interests may appear.
<br /> Trustor's Repart vn Insuran�e, Upon re�uesfi vf Lender, hvwe�er nat mo�e than once a year, Trus�o�shall furnish
<br /> ta Lender a repar� on �ach existing po[icy vf insurance showing: {�} fihe name flf the insurer; t2y �he r�slcs
<br /> insured; {3� the amount of the poliGy; {4} the prop�rty insur�d, the �hen cu�rent repla�ement �aCue of such
<br /> pr�per�y, and tha manner af det�rmining that�alue; and {5} the expiration date of the palicy. Trust�r shall, upon
<br /> r�quest of Lender, have an independen��ppraiser satisfactory�o Lender determin�th�cash value rep�ac�ment cost
<br /> af the Property.
<br /> LENDER`S E�CPENDITURES. If any action or proc��ding is commen�ed that wvuld ma�erially affec� Lender's interes�in
<br /> the Property��'if Trus�o� fails to �omp�y with any provisi�n of�his Deed of Trust ar any Related Documents, inc[uding
<br /> bu� nvt limited �v Trusfior"s failure fio disGharge ar pay when due any amounts Trus�or is required ta discharge ar pay
<br /> under this ❑eed n�Trus�or any R�lated ❑ocumen�s, Lender vn Trustor's behalf may thut shall not be abligated t�} take
<br /> any action tha� Lender deems appropriate. in�[uding but nvt limi�ed �o dischar�ing vr paying al[ taxes, liens. security
<br /> in�erests, encum�ran�es and other claims, a�any time levi�d or pla�ed�n fihe Pr�perty and paying all casts for insuring,
<br /> maintaining and preserWing�he Property. Al[ such e�p�nditures incurred or paid by L�nder �ar such purpvses vvili then
<br /> �ear interest at the rate �harged under the N�te frvm the date in�urred ar paid by Lend�r to the date of r�payment by
<br /> Trustor. A�� such expenses will become a part o�f �he Indebtedness and, at Lender's optifln, will tAy be payable vn
<br /> demand; �B} be add�d �o the balance of �he Not� and !�e appartioned amvng and be payat�le with any insta�lment
<br /> paymen�s to become due during �ither �1 y the term �f any appiicable insurance policy; ar ��f th� rema�ning term vf
<br /> �he Note; or �C� be treated as a �a�loon payment which will be due and payable at th� N�te's maturity. The ❑eed vf
<br /> Trust also wil! secure payment o� these amounfs. Such right shalE be in addi��an to a11 ❑ther rights and rem�di�s �o
<br /> which Lender may be enti�led upon De'�ault.
<br /> V11AF�RANTY; DEFENSE�F TITLE. The following pro�isi�ns r�la�ing ta ownership vf the Property are a par�of this Deed
<br /> of Trust:
<br /> Tit1e. Trustar warran�s that: taj Trus�vr holds goo� and marke�table title of record to th� Property in fee simp�e,
<br /> �free and clear o� a!I liens and encumbrances o�her than fhose set farth in the Real Property descript�on or in any
<br /> ti�l� insurance pa�icy, titie report, or �ina� ti�le �pinion issued in fa�or ❑f, and acc�pted by, Lender in �onnec�ion
<br /> with�his Deed of Trust, and {bf Trustvr has the fu[I right, power, and au�hority fa execute and deliver�his Deed of
<br /> Trus��a Lender.
<br /> Defense of Titl�. Subject �o the exception in the paragraph above, Trustvr warranfs and will fiore�er defend �he
<br /> title �o the Property againsfi th� iawful claims af al1 persans. In the event any action vr praGeeding is commenced
<br /> that�uestions Trustar's titl�or the interest o�Trustee or Lender under this Deed of Trust, Trust�r shal[ defend �he
<br /> action a� Trustor"s expense. Trustor may be �he nominal party in such proceeding, but Lender shall he entitled to
<br /> par�icipate in the proceeding and �o be represented in �he prviceeding by cauns�l vf L�nd�r's �wn chaice, and
<br /> Trust�r will deEi�er. ar cause tv b� deli�ered, �a Lender such instruments as Lender may request from time �o time
<br /> ta permit such participat�on.
<br /> Gompliance Vllith Laws. Trustor warrants that the Property and Trus�or's us� of �he Prope�ty cvmp�ies with all
<br /> existing appEicable laws, �rdinances. and regula�ions af go��rnm�n�al au�horities.
<br /> Sur�irral a�F Represen#a�ians and 1�Varranties. All representatians, warranties, and agreemen�ts made by Trus�or in
<br /> fhis D��� a�Trust shall survi�e �he exe�ution and deliWery�f this Deed of Trust, shall b� cvntinuing in nature, an�
<br /> shall remain in�ull fvr�e and ef�ec�un�iE such�ime as Bnrrvwer's lndebtedness shall be paid in full.
<br /> CONDEMNATIDN, The�ollawing pro�isions relating t❑c�nclemnation proceedings are a part of this Deed of Trust:
<br /> Praceedings. [f any prviceeding in con�lemnation is filed, Trustor sha�l prompt�y nvti�y Lender in writing, and
<br /> Trustor sha�� pramptly�kake such steps as may be necessary ta defend the action and obtain the award. Trustor
<br /> rnay be the nomina� party in such pro�e�d�ng, bu�Lender shall be en'�itled�o participate in�he proceeding and to �e
<br /> repr�sent�d in the proceeding by counse! of i�s �wn choice� and Trustor will deliWer or cause t� be delivered �o
<br /> Lender such instrum�n�s and dacumen�ation as may be requested �y L�nder from time �o tim� to permit such
<br /> par�icipa�ion.
<br /> Applicat�an o�f Ne# Proceeds, !f all vr any part o�F�he Praperty is condemned by eminent d�main proceedings �r by
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