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��14��S1S
<br /> C7E�D �F TF�U�`f
<br /> L�an No: 'I 73�5���a
<br /> {�ontrnu�d� Pa�� 3
<br /> co�erage endorsements on a replacement �asis for the �ul� insurabie value co�er�ng a�� [mprovemen�s on the Reaf
<br /> Pr�perty in an amaunt suffic��nt �o avaid applica�ion of any coinsu�ance c�ause, and wE�h a standard mvrtgagee
<br /> c[ause in favor o�Lender, togeth�r with such o�her hazard and liabi€�ty insurance as Lender may reasonab�y require.
<br /> Po[ic�es sha[[ be written �n �arm, amounts, co�erages and basis reasonab[y acceptab[e to Lender and issued by a
<br /> company or companies reasonabiy acceptable �o Lender. Trus�or, upan request of Lender, vifilf deliver�o Lender
<br /> from-�im� �o time the polieies or certi�ica�es of insurrance �n form satis�ac�ory to Lender, in�fuding stEpu�afiians that
<br /> coverages wii� not be cancelled vr dimin�shed wi�h�ut at least ten {�Q} days prio�- written notice tv Lender. Each
<br /> insu,rance poli_cy alsv shall inc[ude an endors�men� providing that co�erag� �n fa��r a� Lend�r will not be impaired
<br /> in any vtiray by any act, omission or de-�aui-�a�Trustor or any v�her person. Shou[d�he Reai Proper-fy be �oca�ed in
<br /> an area designat�d by the Adminis-�rator o��he Federa� Emergency Management Ag�ncy as a speciaC fiood ha�a�d
<br /> area, Trustar agrees to abtain and maintain Federal Flood Ensurance, i� a�ailab[e, for th� �ull unpaid principal
<br /> balanc�of-�he loan and any prior liens on the property securing�he I�an, up�v the maximum pv[icy limi-ts set under
<br /> the Nationa� Flood lnsurance Pr�gram, o� as otherwise �equired by Lend�r, and to maintain such insurance far the
<br /> term of�he�oan.
<br /> App��cation vf Prv�eeds. Trustor sha[[ promptly notify Lender o�any [oss or dama�e�o the Prc�p�r�y: Lender may
<br /> make proof af [�ss i� T�us�or fails �o do so w��khin fi�een �'[5} days of the casua�ty. Whether or nvt Lender`s
<br /> securi�y is impaired. Lend�r may. at Lender's election� receive and retain the prviceeds vf any i�surance and apply
<br /> �he proceeds �o the reduction �f the [ndebtedness, payment o� any lien a�rec�ing �he Prop�rty, or the res�oration
<br /> and repair of the Prvperty. If L�nder e[ec�s tv app�y�he p�oceeds tv res�oration and repair. Trustor shafl repair or
<br /> rep�ace the damaged ar des�royed lmprovements in .a manner satisfactvey to Lender. L�nder sha�l; upvn
<br /> sat€sfactory proof vf such expendi�ure, pay ar reimburse Trustor �rom the proce.eds for �he reasonab[e cost o�
<br /> repair or restora�ion if Trust�r is no� in d�faul� under this Deed o� Tr�st, Any proceeds which ha�e not been
<br /> disbursed Uvithin �8� days after their receipt and which Lender has not committed to the repa�r or restoration o�
<br /> the Proper�ty sha[[ be used firs�to pay any amount owing �o Lender under this Deed pf Trust, then ta pay accrued
<br /> interest, and the remainder, if any, sha[[ be appfEed to the principaf balance a�fihe lndebtedness. l� Lender holds
<br /> any proceeds after pa.ymen� in fiull o� the �nd�hfiedness, such p�oceeds sha�! be paid to T�us�or as Trustorrs
<br /> interes�s may appear.
<br /> LEIVDER'S EXPEND[TURES. �f Trus�or �ails {A} �o ke�p ths Property �ree �� a11 taxes, Iiens, security interests,
<br /> encumbranees, and other claims, {B} to pro�ide any��quired insurance on the Property, or {C� to make repairs�o the
<br /> P�oper�y then Lende�- may do so. ff any a�tion or praceeding is commenced that would ma�eria�iy a�€ect Lender's '
<br /> in�erests in �he Proper�y, then Lender on Trustorxs �ehal� may� but is not required to, take any actian that Lend�r
<br /> belie�es to be appr�opriate�o protect Lender's interests. A11 expenses incu�red or paid by Lender for such purposes wE!!
<br /> then bear interes�a��he rate charged under the Nate from the date incurred or paid by Lender to the date o�repaymen-�
<br /> by Trus�or. A1� such expenses wi[! become a part af the �ndebtedness and, at Lender's op�i�n, wiff �A� be payable on
<br /> demand; �B} be added �o �he bafance flf �he Nvte and be apportfoned among and b� payable rnrith any instai�men� �
<br /> paymen�s to become due during either ��} the term a�F any app[icable insurance policy; or ��} the remaining term flf
<br /> the Note; or {G} be treated as a ba�lovn payment�nrhich wi�! be due and payabfe a�-�he Note's matur-ity. The Deed o�F
<br /> Trust a�so wi�� se�ure paymen�o�r these amounts. The rights pro�ided fo�- in �his pa�agraph shal[ be in additifln to any
<br /> other rights ar any remedi�s �o whiGh Lender may he en�kitled or� account of any de�aul�. Any such ac�ion by Lender
<br /> shal� not be c�nstrued as eur�ng the de-Faul-�so as-�v ha�-Lender�rrom any rerr�edy�hat Et otherwise v�rau;d ha�e had.
<br /> Vll'ARRANTY; DEFEN[5��F TITLE. The fvllaw�ng p�o�isions relat�ng ta ownership of�he Prope�y are a part of this Deed
<br /> o�Trus�:
<br /> Tit1e. Trustor warrants that: 4a} Trustor h��ds go�d and marketable t��le of record t� the Property in fee simp�er
<br /> free and clear of af[ f�ens and encurnbrances other than those se� -�orth in the R�aI Property descripfiion or in any
<br /> title insuranc� policy. ��tle repart, or final title op�nion �ssued in fa�or of, and accepted by, Lender in cvnnecfiion
<br /> with this Deed of Trus�t, and �b} Trust�r has th��uf� right; powerr and autharity to execute and d�li��r this Deed o�
<br /> Trus`��o L�nder.
<br /> Defense o�Ti#le. Suhjec��o the e�ceptivn in the paragraph abo�e, Trustor vuarrants and wii[ for�v�r de�end the
<br /> titla �o the Proper�y against the fa�nrfrul �[a�ms of a�� persons. In fihe even�any activn or p�-oceeding is commenced
<br /> �hat questions Trustor's title�r the interest o€Trustee or Lender under this I�eed o�Trus�,Trustor shall defend ths.
<br /> acrtian at Trustor`s e�pense. Trustor may be the nominal par�y in such proceeding, bu� Lender shall be ent�tled�o
<br /> par�icipaf� �n the proceeding and to be represented in the proceeding by counse[ of Lend�r's own choice, ano�
<br /> Yrus�or vtiril[ de�:�W�r, or cause to be deli��red, �a Lender such instruments as �end�r may req�es��rorn�irne to t�me
<br /> to permit su�h par�icipati�r�. _
<br /> �o�npIiance lN��h Laws. �rustor- warran�s �hat the Proper-�y and Trustor's use vf �he Property complies w�th a�[
<br /> exis�ing appl�cak�[e[aws,ordinances, and �-e�ulations of go�ernmental authorities,
<br /> Sur►ri�a� of Pr�mises. All promises, agreements, and sfia�ements Trustor has mad� in thi5 ❑��d of Trus� shall
<br /> sur�ive the execution and deli�ery o�this Deed vf Trust, shall be con�inuing in na�Cure and shall remain in�ull force
<br /> and effect un�il�uch time as Trus�or's lnd�btedness is paid in fu[[.
<br /> C�NDEl�NAT��N. Th�foi�oviring pro�isions re�afiing�o condemna�ion proeeedings are a part af this Deed of Trust:
<br /> Prviceec�ings. 1f any prviceeding in �vndemna�ion is f�i�di Trustor sha�� promptly notify Lender in writing, and
<br /> Trusto� shall promp�ly�tal�e such steps as rrAa� be ne�essary to d��end t�e action and obtain �he �ward. �frustor
<br /> rnay be t�ne narrtinal parky in such praceeding, �ut Ler�de�sha[I be ent�tied to pa�ticipa�e in the�roceeding and�o �e
<br /> � repr�sen��d en t�e proc�ed�ng by coun�e� �� a�s �w� �hoice, and �rus��r v�i[[ dei€�er �r �ause to be d�Ci�er�d ta
<br /> Lende� s�ch �ns�rur�ent� and dacurr�enta�io� as r�aa�r E�� req�es�ecd by Ler�der �rvr� t��e �� �ir�e �Q per�i� s�cl�
<br /> �arti ci patio n o
<br /> App�i�ation o€Net Prmceeds. l�a1� or any part of the Proper�ty is condernned �y eminent d�m�in p�-oceedings or�y
<br /> any proceeding or purchase �n Eieu of cond�mnatian, Lender may at its election require that al[or any por�ion o�F th�
<br /> net prvc�eds o�fhe award be app�ied ta the [ndebtedness vr the repair vr restaration o� the Property. The net
<br /> p�-o�eeds of�he award sha�1 mean �he award afiter payrnent of all �easanab�e costsr expenses. and a�torneys' fees
<br /> incurred by Trustee or Lender in connec�ion with�he conr�emnation.
<br /> IiUIP�SITION �F TA�CES, FEES �1ND CHARGES BY G�VERN:MENI�`AL AUTH�RITIES. The foIlowing pro�isions �elating
<br /> �o go�ernmenta�taxes,�fees and charges are a part o�F this Deed o#Trust:
<br /> Curren�Taxes, Fees and Char�es. Upon �equest hy Lender. Trustor shal� executs such doGuments in additiQn ��
<br /> �his D�ed o�Trust and tak� �nrhat��er�ther ac�ion is request�d by Lend��to p�r�ecfi�nd continue Lender`s iien �n
<br /> the �ea� Property. T�ustar s�hall a-eimbu�se Lende� �or a�l ��x�es; as des�ribed be[ow, ��gethe� with all �x�e�ses
<br /> in��rred �n re�ording, per�ecting ar cont�nuins ti��s �eed of �rust, in��ud��g �►rfthout [irr��t�t��n a[[ �ax�sr ��es�
<br /> do�urraen�ta�s�amps,anc� other eharges��r r�card�ng �r registering�hi�Deed af�rus�.
<br /> `faxes. The f�11ov►�ing sha1� constitute ta�es ta which �his sec�ion ap�lies: �1� a specific tax �por� this type o�
<br /> Deed v��rust or upan all ar any part o�the [ndebtedness secured by this Deed af Trust; �2} a specifi� tax on
<br /> �Trusta�which Trustor is authorized �r requ��-ed ta d�duct from paym�nts on the �ndebtedness secured by th�s type
<br /> vf Deed ofi Trust; {3� a tax on this type of D�ed of Trust chargeable against�h:e Lender ar�he hvlder v��he Note;
<br /> and {4} a speci�ic tax on all or any portion of the lndehtedness or on paymen�s ofi princ�pal and Enterest made by
<br /> Trusto r.
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