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��14��31 �� t�� TRt�� Loan Na: �fl'l��`�34-8 {��t��l�d} . Pag� 4 an the praperty securing the Ioan, up�a the maximum pal�cy �imits set under�he Nat�onal Fload �nsurance Program, or as o�herwise requFred hy Lender, and t❑ maintain such insurance for the term o�the loan. Appl�cat�on ❑f Praceeds. Trus�ar shall p�omp�ly notify Lender o�f any lass ❑r damage �a the Property. Lender may make pr-oo� ❑� loss �� Trustar fails �❑ d❑ s❑ within �ifteen �15} days a�F the casua�ty. Vllhether ❑r na� Lender's securi�y �s impaired, Lender may, at Lender's ele�fiian, reGei�e and reta�n the proceeds �f any insurance and apply the praceeds to the reduc�ion o�the Indebtedness, paymen� o# any iien affecting �he Property, or the restara�ivn and repair of the Property. If Lender ele�ts �❑ apply the Qroceeds �o res�ara�ion and �epair, Trustor sha�I repair or replace the damaged ❑r destroy�d Improvemen�s in a manner satisfiacfiary �o Lend�r. Lender shal�, upon satista�tary proo� vf such expendi�ure, pay or reimburse Trustor �ram the p�aceeds for the reasvnable cost ❑� repair or resfioration i� Trustor is not in de�Faul� under this ❑eed ot Trust. �Any pr-oceeds which haWe no� been dishursed within 18� days after their receipt and which Lender has no� cammitted tv the repa�r or restora��on ❑f the Praperty shall be used first�a pay any amount awing fio Lender under this �eed of Trust, then to pay accrued in�erest, and the rema�nder, i� any, sha�I be applied �o the principal ba�ance o��he ]ndebfiedness. If Lender ho�ds any proceeds after paymen�k in full of �he lndebtedness, such proceeds shall be paid ta Trusto�- as Trus�ar's interests may appear. Compiiance wi�h Exis�ing �nde��edness. ❑uring the periad in which any Ex�s�ing lndeb�edness descr�bed heiow is in efF�c�, campIianc� with �he insuran�e pro�isivns con�ained in �khe instrument e�idencing such Exis�ing lndebtedness shaIl cons�itute compl�ance wi�h the insurance pra�isions under this Deed o� Trus�, �o the extent compliance with the �erms of this ❑eed of Trus� w�uld cons�itu-�e a duplicatian vf insurance requiremen�. If any proceeds �ram the insurance became payahle on �oss, the pra�isions in this Deed v�Trust�or di�ision ❑f pro�eeds shaII apply❑n1y to�ha�po��ian❑f the praceeds not payable t❑the hoIder af�khe Exis�ing �ndebtedness. Trustor's Repar� on lnsurance. LJpon request a� Lender, howe�er na� more than vnce a year, Trustor shall furnish . to Lender a repart on each existing policy o� insurance showing: �1} fihe name o� the insurer; �2} �he risks insured; {3} the amount o� �he poIicy; �4} �he proper�y insured, the then current replacement �alue ❑� such prape��y, and the manner�f de�ermining that�alue; and �5� �he expira�ion da�e v�fihe policy. Trus�or shall, upan request of Lender, ha�e an �ndependenfi appraiser safiisfiactory fiv Lender determine the cash�alu� rep�a�emen�cvst a�fihe Property. LENaER'S E?CPEN�ITURES. I�any ac�ion ar proceeding is commenced that would materia[iy af�Fect Lender's interest in the Property or i�f Trus�or fai�s to comply with any p�a�isron ❑�f�his Deed o�Trus� ❑r any Rela�ed Dacumen�s, in�luding bu� nat limi�ed �o Trus�or's �ailure fi❑ campIy with any ab�igation#v maintain Existing lndebtedness in gaad standing as r-equired belowf ❑r fio discharge ar pay when due any amoun�s Trustor is required to discharge or pay under this Deed a� Trus� ar any Rela�ed I�ocuments, Lende�- an Trustor's bsha�� may {but shall not be ❑hligated �o} take any action �hafi Lender deems appropria�e, incIuding but nofi limified to discharging ❑r paying aI! fiaxes, liens, security in�eres�s, encumbrances and other c�aims, a� any �ime le�ied or placed ❑n the Proper�y and paying all Gosts for insuring, main�aining and preser��ng the Property. A1I such expendi�ures incurred ❑r paFd by Lender far such purpases w�I� then bear in�erest at�the ra�e charged under the Nv�e fram the date incurred ❑r paid by Lender to fihe da�e ❑f r�payment by Trustor. All such expenses wiII become a part of�he Indeb�edness and, at Lender's ❑ption, will �A} be payab�e an demand; {B� be added to �he balance of -�he No�e and be apportivned amang and be payable wi�h any ins�allment paymen�s t❑ become due during ei�her {1� the term o� any applicable insurance paliGy; or �2} the remaining fierm ❑-f the Na�e; ❑r {C} be trea�ed as a balloan payment which will �e due and payable at the Note's maturity. The ❑eed ❑�F Trusfi also wi�I secure paymen� of �hese amoun�s. 5uch righ� shall be in additian ta ai[ vther rights and remedies t❑ wh�ch L�nder may be en�i�led upon ❑efault. ' WARRANTY; DEFENSE�F T1TLE. The�foliowing proWisions rela�ing�o awnership of�he Proper�y a�e a part o�this ❑eed a�Trus�: Ti�le. Trustor warrants fihat: ta} Trustor hoIds good and marketable tifiie o� recvrd to the Prap�rty in fee simpie, free and Glear o�f a�l �iens and encumbrances o�her than �hose se# �farth in the Rea� Praper�y description ar in the Exis�ing �ndebtedness sec�tian bel�w or in any ti��e insurance pol�cy, �itle �epvrt, vr�ina� �ifile ❑pinion issued in fa�or ❑f, and accep�ed by, Lender �n connec�ian with this Deed ❑�r Trust, and �b} Trustor has �he fuli right, pawer, and au�horifiy�❑ execute and deIi�er�his �eed�fi Trust t❑ Lender. De�ense of Title. Sub�ec� to the exception in the paragraph abo�e, Trus�or warrants and wiil fore�er defiend �he title �o�he Prope�-�y agains�the law�u� claims ❑�f all persons. In fihe e�ent any acfiian or praceeding is commenced tha�quesfiions Trustor's title ❑r the interes�a�Trustee �r Lender under�his ❑eed ❑f Trus�,Trus�ar shall defend �he action a�Trustar's expense. Trus�or may be �he nominal party in�such proceeding, but Lender sha1� be entitled ta par�k�cipa�e fn �he pro�eeding and to be represen�ed in -�he proceeding hy counsel at Lender's ❑wn ch�ice, and Trustor will deli�er, or cause�❑ be deli�ered, �o Lender such instruments as Lender may request�rom�ime �❑ �ime �❑ permit such par�icipation. Compliance llVith Laws. Trus�vr warran�s tha� �he Praperty and Trus�or's use ❑� the Praper�y complies with a!� existing appIicable laws, a�dinan�es, and regu�ations af go�re�nmen�aI au�har�ties. Survi�ral of Represen�a�ivns and V1Jarranties, All represenfia�ions, warran�ies, and agreemenfis made by Trustor in this ❑eed of Trus�shall sur��e�he execu�ion and deli�ery ot�his i�eed af Trust, shall he con�inuing in nature, and sha�I remain in fiull�arce and effeGt un�il such time as gorrower's lndeb�edness sha1I be paid in�Fu�l. F��STING �NDEBTEDNE55. The follawing prv�isions concernFng Exisfiing Indeh�edness are a par�of�his Deed of Trus�: