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��14�3�1�
<br /> �3EED �F TRUST
<br /> {Gontinued� Page 3
<br /> E�idence of Paymen#. Trustor shall upon demand furnish to Lender satisfactvey e�iden�e �f payment of the taxes
<br /> or assessments and shalE authvrize the apprvpriate ga�ernmental of�icia! to deli�er to Lender at any time a written
<br /> statement of the taxes and ass�ssments against the Property.
<br /> No#ice vf �ans#ruction. T�ustvr shali notify Lender at �east fifteen t 15� days before any work �s cvmmenced, any
<br /> ser��c�s are �urnished, or any materials are suppl�ed tv the P�vperty, if any mechanic's l�en, materialmen's lien, vr
<br /> other lien could he asserted on accvunt o# the wvrk, s�rvices, or materials. Trustor wiEf upvn request ❑f Lender
<br /> furnish tv Lender ad�ance assuranc�s satis#actory to Lender that Trustor �an and will pay the cost ❑f such
<br /> impro�emen#s.
<br /> PR�PERTY DAMAGE �NSURANCE. The following pro��sions re�ating t� �nsuring the Property are a part of thts ❑eed of
<br /> Trust.
<br /> Maintenance of Insurance. Trustor shai� pracure and mainta�n po��ci�s of fire insurance ►nrith standard extended
<br /> cv�erage endarsements on a fair �alue basis for the #ull Ensurabl� �a[ue co�ering ai� Imp�o�ements �n the Reai
<br /> Prop�rty �n an amount sufficient #o a�oid app��cativn af any co�nsurance clause, and with a standard mortgag�e
<br /> c�ause in fa�vr o#Lender. Trustor shal! also procure and mainta�n comprehensi�e genera� fiabifity insurance in su�h
<br /> cv�erag� amounts as Lender may request with Trustee and Lender beEng named as additiona� insureds in such
<br /> liabi�ity insurance policies. Additionally, Trustor sha�l maintain such ❑ther insurance, includ�ng but not limited to
<br /> hazard, business interrup#ian. and boiler insurance, as Lender may r�asonably �equire. Policies shall be written in
<br /> form, amounts, co�erages and basis reasonably ac�eptable tv Lender and issued by a �vmpany or companies
<br /> reasonably acceptable tv Lender. Trustor, upvn request of Lend�r, will d�li�er tv Lender from tEm� to t�me the
<br /> policies or �ertifi�ates ❑f tnsurance in form satisfactory tv Lender, incfuding stipu�ations that cv�erages will nat be
<br /> cancelled vr diminished withaut at feast thirty {3�} days pr�or written notice ta Lender. Each insurance policy also
<br /> shaE! in�lude an�ndvrsement pro�iding that co�erag� in�a�vr of Lender wi�1 not be impaired in any way by any act,
<br /> omissi�n ar default of Trustor ar any other person. The Rea� Property is or will be Io�ated in an area d�signated hy
<br /> the Directvr vf the Federal Emergency Management Agen�y as a special fivod ha�ard area. Trustflr ag�ees t❑
<br /> obtain and maintain Federal F�ood Insurancs, it a�ailabf�. for the full unpaid principal baFan�e vf the ivan and any
<br /> p�iar liens vn the prvp�rty securing the Ivan, up tv the maximum policy limits set under the National Flo�d
<br /> Insurance Pro�ram, �r as ❑therwise required by Lender, and tv maintain such insurance for the term of the Ioan.
<br /> Applicativn of Prviceeds. Trustor shall promptly notify Lender of any lass or damage to the Pr�perty. Lender may
<br /> make pr�of af lass if Trust�r fails t❑ dv sa within fifteen ��5} days vf the casualty. UVh�ther vr nat Lender's
<br /> security is impaired, L�nder may, at Lender's elect�on, rec�i�e and retain the prviceeds af any insurance and apply
<br /> the prac�eds t❑ the redu�tivn of the �ndebtedness, payment of any �ien affecting the Property. or the restaration
<br /> and repair of ths Praperty, 1� Lendsr el�cts to apply the prviceeds to restvration and repair, Trustvr shall repair vr
<br /> rsplace the damaged or destroyed Impro�ements in a manner satisfactory tv Lender. Lender shall, up�n
<br /> satisfactory praaf af such expenditure, pay or reimburse T�ustor from the proceeds for the reasanable cost of
<br /> repair �r restoration if Trustvr is nat in detault under this t]eed af Trust. Any pro�eeds which ha�e no� been
<br /> disbursed within �8� days after their receipt and which �ender has not committed to the repair �r restoration of
<br /> the Property shall be used firs�to pay any amvunt awing to Lender under this Deed v�Trus�, then to pay a�crued
<br /> interest, and the remainder� if any, sha�l be applied to the principa! balance of th� Ind�htedness. If Lender hvlds
<br /> any proceeds atter payment in fiui! af the �ndebtedness, su�h proceeds sha�l b� paid to Trustor as Trustor's
<br /> interests may appear.
<br /> Trustar's Repvrt on lnsurance. Upon request flf Lender, hvwe�er not more than once a year, Trustor shall �urnish
<br /> to Lender a report an each exis�ing po�icy vf insuran�� showing: {1} the name of the insurer; 42� the �15IC5
<br /> insured; �3f the amount o# the po��cy; �4� the praperty insured, the then current replacement �alue of such
<br /> prvperty, and the manner ❑f determining that�alue; and �5� the expiration dat� v#the policy. Trustvr shall, upon
<br /> request vf Lend�r, ha�e an independent appraiser satisfactory to Lender determ+ne the cash �alue rep�acement cvst
<br /> of the Property.
<br /> LENDER'S EXPENDIT[JRES. lf any action ❑r proceeding is commenced that wvuld materially affect Lender's interest in
<br /> the Property or if Trustor fails tv comply with any pro�isivn vf this Deed of Trust ar any Related Do�uments, including
<br /> but nvt limited to Trustvr's #ailure to discharge or pay v►►hen due any am�unts Trustor is required to d�scharge or pay
<br /> under this ❑eed v#Trust or any Related Do�uments, Lender on Trustvr's behalf may �but shall nvt be obligated to� take
<br /> any action that Lender de�ms apprvpriate, inc�uding but not �imited to dis�harging ar paying all taxes, liens, s�curity
<br /> �nterests, �ncumbrances and vther claims, at any time fe�ied or p�a�ed on the Praperty and paying all cvsts for insur�ng,
<br /> mainta�ning and preser�ing the Prvperty. All such expenditures incurred or paid by Lender for such purposes wi�i then
<br /> bea� interest at the rate charged under the Note trvm the date incurred or paid by Lender tv the date ❑f repayment by
<br /> Trustvr. All such �xpens�s will become a part of the Inde�tedness and, at Lender's �pti�n, will �Af he payahie on
<br /> demand; �B� be added #o the balance of the Nate and be appartEaned among and be payable with any installment
<br /> payments to becams due during e�ther {1} the term of any appli�able insurance poli�y; or ��f the remaining term of
<br /> the Nate; or �C� be treated as a balloon payment wh�ch will be due and payable at the Note's maturity. The Deed of
<br /> Trust alsv will s�cure payment o� these amounts. 5uch right shall be in addition to all vfiher rights and remedies to
<br /> which Lender may be entitled upvn De�ault.
<br /> WARRANTY; DEFENSE�F T�TLE. Th��ollowing pro�isions relating to ownership af the Prvperty are a part vf this De�d
<br /> of Trust:
<br /> Titie. Trustor warrants that: �a� Trustvr holds govd and marketable title of recvrd t� the Prvpe�ty in fe� simple,
<br /> free and �1ear vf all liens and encumbrances oth�r than thase set forth in the Real Property description or in any
<br /> title insurance policy, title report, ❑r final tit�e vpinion issued in fa�or vf, and accepted �y, Lender in �onn�ction
<br /> with this Deed o#Trust, and �by Trustor has the full right, power, and autharity tv execute and deli�er th�s Deed vf
<br /> Trust to Lender.
<br /> �efense of Title. Sub}ect tv the exception in the paragraph abo�e, Trustor warrants and will fore��r defend the
<br /> title to the Property against the �awful claims of all persons. In the e�ent any ac#ivn ❑r proce�ding is cammenc�d
<br /> that questions Trustor's titl� ❑r the interest ❑f Trustee ar Lender und�r this Deed of Trust, Trustor shall defend the
<br /> actian at Trustor's expense. Trustar may be the nomina� party in such praceeding, but Lender shall he entit�ed tv
<br /> participate in the prviceeding and to b� r�presented in the prviceeding by counsel of Lender's own chvi�e, and
<br /> Trustor wiI[ deii�er, �r cause to be de�i�ered, to Lender such instruments as Lender may request frvm time to t�me
<br /> tv permit such participativn.
<br /> C�mpliance Wi#h Laws. Trustor warrants that the Prvperty and Trustor's us� �f the Property complses with all
<br /> existing applicable laws, ordinan�es, and re�ufations vf gv�ernm�ntal authorFt�es,
<br /> Survi�al af Representati�ns and Warranties. All repres�ntatEvns, warranties, and agreements made by Trustvr in
<br /> this Deed vf Trust shall sur�i�e the execution and deli�ery vf thEs D��d af Trust, shall be cantinuing in nature, and
<br /> shall remain in full force and eff�ct until such time as gorrower's Indebtedness shall be paid in�ull.
<br /> C�NDEMNATI�N. The follawing pro�isions relating t❑cond�mnativn proceedings ar� a part vf this Deed of Trust:
<br /> Proceedings. if any proceeding in condemnation is filed, Trustar shall p�ompt(y notify Lender in writing, and
<br /> Trustor sha11 promptiy take such steps as may be necessary tv defend �he action and ohtain the award. Trustor
<br /> may be the naminal party En such prviceeding, hut Lender shall !�e entitled t� participate in the prviceeding and tv be
<br /> repres�nted in the proceeding by cvunsel of its ❑wn choice, and Trustor will deli�er or cause tv be deli�ered tv
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