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<br /> �EE� �F Tl��l�T
<br /> ���r� ��: �����[���� ���r�t�r����� �a�� �
<br /> TA��� AND f��EN�. Th� #�[1��i�� pr�vi�i�ns r�l��in� �� �h� t�i�€�s �r��l 1i��s �r� t[�� �ra��rty �r� ��t�t �� ��i� ���d ��
<br /> Tr��t:
<br /> �aym�r�t� Tru�t�r�h�ll ��y w h��n�u� ��r�d i n ail ���n�t� pc��r t� ��[�n���n�y� �ls t����� ����i�l����sr ����ssm�n�s f
<br /> �h����s �an�l��i n� �rtir���r �n� 5�w�r}r fi r��s �r�d i rrt���iti�rts I�v��d ���i r��t�r �t� a����r�t ��r th� �r���rty, �r�� �h�ll
<br /> �ay v�rhen d�� �11 ���irr�s f�� vv�rk ��n� �n �r f�r s��i��� r�n�f�r�� �r m�t�ri�l �urni��r�� �� #�r� �r���rt�{. 7r����r
<br /> sh�l[ �n�i�t�in th� prQ���y#r��af�I[ 9i�r�� h���i r�� p ri�rit� �v�r ar�qu�] t���� int�r�st�f L�n��r un��r tf�i� ���� �f
<br /> Tru�t, ������ ��r �h� Ei�n �� t���s an� �s��s�m�n�� n�� �I�� �n� ������ a� �ther�v i�� �r��i d�d i n this a���l �f
<br /> �r�,,�t.
<br /> ���PEF�TY ������E 1 N�LI RAN CF. Th� fall a�v ir�g �r��ision� r�lati ng t� in�u�in� the �r�}��3-�y�ir� � ���-t ��this ���d �f
<br /> �'r�st.
<br /> NI�Er����an�� �� ln��r�r���, Tr��t�r �E��I[ pr��ure ��� rr�ai n�ai n p��ici�s a� �r�r� in�ur�s��� v�i�� sfi�ndard ��€tend��l
<br /> ��v�r��� �r�d�rs�r��t�ts �n a f��r �ralu� b��i� #�r th� ��I[ in�ur��[� v�1�� ��v�rirt� a[� Impr��r�m�n�s �r� ��n� F���I
<br /> Pr���r� in �n �m�un� suffici�n� ta av�i� app�i��tE�n �fi �ny �aEr�sur�r�c� cl�us�, �r�d �ritl� � st�n��rd rr��rt�����
<br /> . �laus��r�t���r�f L�rt�l�r, t���t}��r v���h s��h �th��r F����r� �r,� li��ilit�,r ir���r�n���� f��n���m�y r����n�l�l� r�c�uir�.
<br /> P�li�i�� �hal[ b� wr����n in ��rm� �m�unfis, ����r���s a�d ��s�s r����na�I� �����t�b�� t� Le���r ��r� i�su�d �y a
<br /> ��m��r�y �r ��m��n��� r����r����y a���p��b I� -C� ��n�i�r_ Tr����rr u��n r��ue�# �� L�nd�rr w�1[ deliv�r �� L�r�der
<br /> �r�m �ime t��tim� fik�� ��li�s���r ���ti�i�at�s �f ir��ur�r��� ir� f�rr� s�ti�f��t�ry�� L�r�d�r, ir��lu�[ing sti�ula�i�r�� th�t
<br /> ����r���� v+ril� n�� b� �����[l��i �r �ii�i�ish��i withaU� a� I��s���n �1�} da�� priar u�rri�t�n na�i�e t� L�nder. �a�h
<br /> in�ur�n�� ��1i�y �[s� ����1 irt�lu�ie �t� e�d�rs�t��nt �t'�vi�ir�� that ��v�r��� in favaf�f L�r�d���r�rilE n�t b� imp�ir��
<br /> i r� any v��y�y�n�r���r �m��si�n �r�i�f�u[#�f Trus��r ar��n�r a���r p�r�on. �ha uld �C�� F�e�l F'r�p�rty be I��a�ed ir�
<br /> �r� �r�� d�sE���t�� �y t�� A�minis�rat�� a�th� F���ra[ Em�r��n�y �an���m�n� A��n�y �s a �p��i�l fl��� h���r�
<br /> �r��r �r����� ��r��� �� �f��ai� an� mai��ain Fed�r�] Fla�d In��ran��, ifi �v�il�I�l�r ��r th� �Fuli un��Ed �rin�i��l
<br /> ��r��r��� a�r t�� I�a r� a r�d �r�y�ri�r IE�n��n th� p r�p�E-�y����rin�tE�� I�a r�� �p��#h� ma�€i m+�m p��i�� I imi����t�n�l�r
<br /> -�h� N��i�na� FEa�� I�suran�e pra�ramr �r as ��h�rw�s� r��uEr�d k�y L�r�d�r, �n� t� r��i�t�ir� �u�f� ir��ur�n�� f�r tl��
<br /> t�rr�rt�f tf�� I��r�.
<br /> LEN a ER'� E�+��ENaITI.�R E�. !� Trus�ar �ai�� ��] �� ke�}� �h� p�-a p�r�y �r�� ��F a I� ��x��f 1 ier�s� s�c�ri�y int�r�s�s,
<br /> �n�u��r�r���sr ar�d ��i��r�l�i r��� {B} �� �1'��IE�� ��l�l �'��#�l��� i r���ran���r��h� Pr���r�yr �r {�� t� m�I�� r���i r��t� �E��
<br /> �'r���r�ky �kh��ro L�n��r may da s4. [� �ny ��fiiar� �r pr��eedir�g is ���m�n��d fih�fi w�u[� m�fi��i�lly �tFe�� L�n��r's
<br /> Er���r��ts irr tf�� Pr�p�rt�r, then L�n�l�r �n Tr�st��'� ��h�l�r �n��f b�� is n�� r���ir�c� ��r ��1�� �ny ��ti�n �f��� L�r,�l�r
<br /> ��[�e�e��o �� appr�pri�t�t� �r�t��� L����r's ir�t�r�st�. AI� �������s ir�curr�d �r ��id }�� L�r�d�r��r�u�� �ur����s w�ll
<br /> th�n b��r int�r����t�h� �'��� �h�r���l �r�r��r�h� N����rr�m �h� d��� in��rr�� Q� ��i� b�L�n��r���h� ���� �f r�p��m�n�
<br /> i��r Trust��. �►1� �u�l� ����r���� wiEl ����m� � ��rt�f t�i� ln���t��r�es� �r��]f �t L�n�er"� ��tionr �nri[] {A� f�� ����f�l� �r�
<br /> �i�r�tar�r�; {6} �� add�� t� ��e b�lance a� th� lV�t� an�l �� app�r�i�ned �m�n� and �� pa�r�bl� vtirith �r�y ir�s�allmen�
<br /> �a�m�r��s t� ����m� ��� ��arin� ��#h�r (�� �h� #�rm �f �ny ��pEi��bl� i n��r�n�� ��li�y; �r [�} tl�� r���i ni n� #�rm �f
<br /> th� lV�te� �r (�} #��tr��t�� �s� ��l[��r� ���rrr��r�t�nrl���l�v�rill }��du��r�� ���a�l��t th� lV�t�'� r-r��tu�it�.
<br /> 1�A�F�AN�; �EFEN���F�ITL�, �h���I��v�ri n� p r��a�i���r�l��ir���� �wn��-�I�i��f��� Pr���rt�r�r�� ��r��f tl�i� ����
<br /> �f Tru�t:
<br /> Tit[�. 3r��t�r �varrant� th�t: ��� Tr�st�r h�l�l� ���c� �n� rr��rl�����1� �i�9� �� r��ar� �� �h� €�r�p�r�y in f�� s�m pl��
<br /> �r«� �r�� c���r a�r �ll ]i��� �r,d �r���rr��r�rtc�� �#��r t��r� t���� ��t f�rtC� rr� tl�� l���l �r���rty ���cri��ri�r� �r �r� �r�y
<br /> �it�� in��r���� p�li��r �i�[� r�p�r�r �r fEr�al �i�[� a�ir�i�n i�su��J irt f�var ��r �n�i a��e����f }�y, L�n��r in ��nn���i��
<br /> �ritC�t}�Es ���d af Tr�st� �r��i �b) Tru�t�r h�s th�f�l! ri�f�t, ��v�r�rr �r�d �uth�rit�r�� ��c��ut� an� d�C�v�r tl�is ���d �f
<br /> Tr��#�� L�n��r.
<br /> �efe�se �� Titl�� �u����t t� tt�� �xc������ �r� �[�� ��r��r��l� ����r�r Tru�t�r v��rr�r�t� �r�d will f�r�v�r ����nd t��
<br /> titl�t�th� Pr���rty���Er�s�t tF�� [air+��ul �a�im� ��al] ��r��n�.
<br /> E1JF[1[T� �F �EFI�U�T. A� L�nd�r's �pti�r�, T��s��r v�i[1 E�� ir� �i�f�ult ur��1�r �t�ti� ���d �� �i rust i� �fl�{ �f t�� f�llav�rin�
<br /> h��p�n:
<br /> P��r��n#��f��l#. T«���r f�if��� m�l�� �ny��ym�n�wh�rt��� �n��r�h� ln������n���,
<br /> �r�ak �ih�r �r�rr�i���. Trust�r E�r���s �r�y pr�r�i�� rn��� �� ��r��i�r �r f�ils t� ��r��r� �r�mpfily at the xime �nd
<br /> s#ri��ly i n�h�r��r�n��-pr�vi��d ir+�h�� a���l �f Tru���r Er��r�y��r��m�n�r�[�t��1 ���hi� ���r��f��r��t.
<br /> C�mp���n�� ��f�u�t. ��i1ur� �� ��m�ly vrr�th �ny ��I��r t�rm, �I�lig��i�n, ��v�n�nt ar �an�itiar� can��in��! ir� �E�is
<br /> ���� ��Tr�str�h� f��t��r i n �ny�f th� R�l�t�� t����r��r��s.
<br /> ��faUlt an�t�t�r Payments. F�il ur�o��rusta r wi�hin the tirn� r��uired by t�ni� �eed af 7r���t� ma k� �ny ���m�n�
<br /> f�r t����ar ir,s�r�n��� �r�ny atFr�r�ayr��rt�r�e�e��ar�#a pr�v�nt filin� a��r t�eff��t dis�l�ar���f�r�y�i�r,.
<br /> ��f��l� �� F�v�r �#Ti��r�[ ��r-�N��, �h��l� �ran��r ��f���t �n�i�r �r�y l��n r ����ns��n �f �r��itr s���rity a�r��m�r�tr
<br /> �urcE��s� �r��l�s ��r��rr7�r�t, �r �r��r �t��r ��r��r�t��r�tr ir� ����r�f�r���t1��r cr�dit�r �r p�r��r� th�t rr��� rr��fi�ri�l l�
<br /> �ff��t �n� �f �r�nt�r`s �r�p�rt�r �r �ran��rr� ���I i�r t� r�p��r th� [n��E����n��� �r �r�nt��'s a�i1 it�r �� p�rf�rm
<br /> �r�nt�r's��li��ti�r��ur���r t[�is E���d�f�r�st���r�y r�l a��d d��u��r,t. �
<br /> D��#h �r [n��l��r��y. �E�� ��a�h�f Tr�st�rr �i�� in��l�r�n�y�f Tr��t�r, �h� �p��in�rr��n��f� r���i�r�r f�r��� ��rt�f
<br /> Tru�t�r's �r�p�rty� �r�y �s�i�r�rry�r�t f�r �ti�� ��r��fit �f �r��it��s� �r��r t��� �f cr�r�it�r w�r��ut, �r tl��
<br /> ��m m�n��m�n#�f�ny pr�����i n� un€��r�ny b�n kr�p����r i n��lv�ncy[�vxr� b�r�r a��i n���["ru���r.
<br /> Even�� �r�feGti�� ��arantvr. Ar�y �f�h� �r����ir�� ���r�ts ��curs wit[� r�s��c��� �r�y �u�r�r�t�r� �r���r��rr sur�tyr
<br /> �r �����tnm����ion ��r�y af any �f �1�� fnc�����dn��� �r �n� ���r�n��rr �n�i�r��r, �ur��yr Qr ����r�m��i��i�n ��r�ky
<br /> �i�� �r ����m�� i r���t-r�p�t�r��f �r r��r�ke� �r dis�ut�s t�ie V�ICCIC�� �fr �r Ei a�i lity urr�[�r f ��y �u�r�nty �f t�r�
<br /> lnde���dn��s.
<br /> [n����ritr�. Len��r in����f��th b�]i�v�� i���I��r,s��ur�.
<br /> �i�h��� ��r�, I f�ny�l�f��l�r �#h�r���n � �i�f��st in ���m�nt i� ��r�bt� �n�! if Tr�s��r h�s n��b��n �iv�n � n�#i��
<br /> ��� br���h �f tl������ �r�vi�i�r��f tl�i� ����i�f Tru�t�rvi�i�irt tl�� �r����{i r,�t�rv�[v� �1�� rr��r����� �t r�-��r�f���ur�� i�r
<br /> Tr��t�r, �f��r L�n�f�r��r�ds �ri��n na���� ���rU���r��m a ndin� �ure af su�h���faul�: {1} cu r�s�h� �efau���v i��n in
<br /> t�+r�r,t�r ���� d��r�� a r {�} if th� �r�r� r��ui r�� r-rtar� ���n t�nr�nty {��} d�y�, imrrr��i a��ly C1�ICtl�t�� ����� v�r�i��
<br /> L�n��r r���rr�s in L�n���-`� ��l� c�i��r��i�n �� b� ��ffi�i�n� �� �ur� �}�� d��r��l� �nd �h��r��f��r ��n�ir�u�� �n�
<br /> ��rn���t���l[ r��s�r��b�� ar�d r�e��s��r�r�t���suf�i�i�r��ta �r�du�� ��m�li�r��e �s�a�r��� reas�n�l�ly�r��ti��l�
<br /> R��HT� A�� R E�11 E���� �� I��FA�J L�. lJ��n t�� �����r���� �f �n� ���nt �f ��fa�lx �n��r �n� i n������n���, �r
<br /> �C���[d Tru�t�r f�i[ta ��r��ly witL��r�y�f Tr�star'���Eig�ti�r�s ur�d�r tl�i� a��� �f Tr�s�, Tru�t�� �r ��r��i�r r���r���r�is�
<br /> any�ne�r m�ar���r tl�e�F�Il�v�in� ra�hts�n�[ r�m��i��;
<br /> A���I�ra�i�� i.l��r� ��f�u�t;�1r��iti4r��1 F�em��i��. If�r�y Ev�n�of D���ult ac��r� �s pe�t[�� ���ms �#fih� N�t�
<br /> � ����r�� h,�r�byr L�n��r m�y d��lar�al[ �n�ebt��r��ss�e��r�� �y tl�i� ���� �f Tr��t t� ��d�r��nd p�y��l� �n�
<br /> t����me s I�al l ther���a r� E�ec�m�du��nd p�ya�[e v�i�tha�rt��y pres�ntm�ntr ��rrian�� p�at��t a r r�atice�f any
<br /> I�in�f. Tl�����ft�tr Len��r rrt��r;
<br /> {�} �€ther �n ��r��n �r by a��nt, v�ritF� a r v�ritho�t �rin�i r�g any a�ti�n �r praceed in�, a r by � r���iv�r
<br /> ��p�i�t�� �y � ���rt �n�1 wi�h��� r���r�i t� �h� �c�������r �f���s���ri��, �nt�r ���n �n�t ��[�� ��ss��si�n
<br /> �f t�� I�r���r�r� �r�r�y��r�th�r��f, ir� its �wr, r��m� �r i�th� r,�rrr� ���i rr�st��, �r�� �� �r����ts v��i�� Et
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