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��14�3531
<br /> DEED �F TRLJST
<br /> Loan IVa: 7�12767D4 �Co�lt�nu�d� Pag� 4
<br /> Application of Proceedsd Trus�or shall prompfily nofiify Lender of any I�ss or damage to the Property. Lender may
<br /> make praaf of lass if Trustor fails ta do so wi�hin -�ifteen ��5} days of the casual�y. Whe�her or na�t Lender`s
<br /> se�uri�y is impaired, Lender may, at L�nder's eiectian, receiWe and retain the proceeds af any insurance and apply
<br /> the proceeds to the reduction of the Indebtedness, payment of any Iien affectin� �he P�oper�y, ar the res�vra�ian
<br /> and repair of�h� Prope��y. If Lender �lects �o appiy the proceeds to restoration and repair, Trus�ar shall repair or
<br /> replace �he damaged c�� des�royed ImpraWemen�s in a manner satisfactory ta Lender. Lender sha�i, upon
<br /> safiisfactory praaf of su�h �xpenditure, pay or reimburse Trustor fram the proceeds for �h� reas�nable cost �f
<br /> �epair or res��ration i�r Trust�r �s n�t in defauft under �his Deed vf Trust. Any proceeds which ha�e not been
<br /> �isburssd within �S� days a�F�er their receipt and which Lender has not cammitted to �he repair or r�stora't�an ��
<br /> th� Praperty shall be us�d tirst to pay any amaun� vwing fio Lend�r under this ❑eed o�Trust, th�n to pay ac�rued
<br /> interes�, and the r�mainder, if any, shali be applied ta the princ�pa[ balance of the Indebtedness, If Lender holds
<br /> any proGeeds a�ter payment in full of fhe indebtedness, such proceeds shall be paid �o Trusto� as Trus�or's
<br /> interests may appear.
<br /> Compliance vuifh Exis#ing lndebtedness. During �he peri�d in which any Existing lndeb�edness described b�la►nr is
<br /> in effec�, compiianc� wi�h the �nsurance provisions contain�d in the instrumen� evidencing such Existing
<br /> Indebt�dness shaEi cons�i�ute cvmpliance ►rvith the insurance prv�isions under this aeed of Trust. ta the ex�ent
<br /> �ompliance with the t�rms o�this Deed of Trust wau�d �onstitute a duplica�ion vf insurance requiremen�t. !f any
<br /> praceeds from �he insurance �ecame payable on �ass, the pr��isions in �his D��d a�Trust�ar di�isian ofi proceeds
<br /> shaIl apply only to that portion of the proce�ds not payable to the holder of the Exis�ing Ind�btedn�ss.
<br /> LENI3ER'S E�PENDITURES. l� Trustar fails tA� to keep the Proper�ky free of al1 taxes, liens, security interests,
<br /> encumbrances, and nther claims, �8� ta provids any required insurance fln �he Praper�y, �C� �v make repairs ta the
<br /> Proper�y or ta comp[y wi�h any obligation ta mainta�n Existing Indebtedness in gaod standing as required below, then
<br /> Lender may do so. [f any a��ion or proceed�ng is commenced that would materially af�ect Lender's in�eres�s in the
<br /> Praperty, th�n Lender on Trustar's behal� may, bu� is nQt required to, �ake any actian that Lend�r be��eves �o b�
<br /> appropriafie to prote�t Lender's int�rests. A!I expenses incurr�d ar paid by Lender �ar such purposes �rvi[! then bear
<br /> interest a� �he rate charged under �he No�e �from the date incurred or paid by Lender t� the date of repayment by
<br /> Trustor. All su�h expenses will become a part of the Ind�btedness and, at Lender's option. will �Ay be payable on
<br /> �l�mand; �B� �e added ta the balance a�F �he Note and be appartioned am�ng and be payable with any instal[ment
<br /> payments to become du� during either t 1 f the t�rm o�F any applicabfe insurance p�licy; or �2} the remaining term of
<br /> the Nate; or �C} be �rea�ed as a ba[Ioon payment which will be due and payable at�he Note's maturity� The ❑eed of
<br /> Trust alsa will secure payment�f these amounts. The rights provided �or in th�s paragraph shall b� in addi�ion to any
<br /> v�he� rights or any remedies to which Lender may be entitled on accnunt �� any defaul�, An}� such action by Lender
<br /> shall na�be consfirued as curing the defauf�t so as�o �ar Lender fram any remedy�ha��t�therwise wouid ha�e had.
<br /> WARRANTY; DEFENSE�F TITLEe The fol{owing provisiflns reCating ta awnersh�p v�fhe Proper�y are a part af this Deed
<br /> af Trust:
<br /> Ti�le. Trustar warrants that: �ay Trustor halds go�d and mark��able title of r��ord to the Prflpe�ty in fee simp�e,
<br /> fre� and clear of all liens and encumbrances ather than thase s�t forth in the Real Praperty descriptivn vr in the
<br /> Exis�ing Indebtedness se��ivn �elow �r in any ti�le insurance policy, title report, or finaf title opinion issued in fa�or
<br /> of, and accepted by� Lender in cvnnecti�n with this De�d of Trust, and �b} Trus�or has #he fuli r�ght, pawer� and
<br /> authori�y to execu�e and deliWer this Deed of Trust to L�nder.
<br /> Defense vf Tit1e. Subject �o the exception in the paragraph a�o�e, Trusfar warrants and will forever defend the
<br /> - ti�l�to fhe Proper�ty against fhe [awful ��aims of all p�rsons. In the eWent any ac�ion or pro��eding is commen�ed
<br /> that questivns Trust�r's�ti�tl�Qr the interest�f Trust�e or Lender under this Deed of Trust, Trustor shall detend the
<br /> a�ti�n a�Trustvr's expense. Trusfior may be the nominal par�y in su�h proc��ding, but Lender shall be entitied to
<br /> participate in th� pro�eeding and �o be represen�ed �n the proceeding by counse! of Lender's own choice, and
<br /> Trustor will deli�er. or cause ta !�e delivered, to Lender su�h insfiruments as Lender may requ�st from time to time
<br /> ta permi�such par�icipation.
<br /> Compliance r1V��h Laws. Trustor warrants that the Property and Trus�or's use of th� Praperty c�mpli�s with all
<br /> �xisting applicable laws, �rdinances, and re�u�a�ions��g���rnmental authori�ies.
<br /> Sur�ri�al of Promises. Ali prt�mises, agreements, and statem�nts Trustor has made in �his Deed ❑� Trust sha[I
<br /> surWive the executi�n and d�iivery of this Deed of Trus�� shall be continuing in nature and shall remain in fusl f�rc�
<br /> and ef�ec�until su�h time as Trustvr's �ndebtedness is paid in�u[I.
<br /> E�15TING INDEBTEDNESS. The fallowin� prv�isions cancerning Existin� �ndebtedness ar� a par�o�this ❑�ed o�Trus�:
<br /> Existing LRen. The lien of this Deed o� Trust securing the Indebtedness may be secondary and in�erior to an
<br /> existing fien. Trustvr expressly��venants and agr�es tv pay� or s�e t❑ the payment of, the Existing Indebtedness
<br /> and�o preWen�any defiault on such ind�btedness, any default under the instruments e�idencing su�h indeb�edness,
<br /> or any d�fault under any security documents fvr such indebtedness.
<br /> No Modifi�a�ivn. Trustor snal� not en�er int� any agreement w�th the hQlder af any ma�tgage, deed ofi trus�, ❑r
<br /> �ther security agreem�nt which has pri�rity o��r this Deed of Trust hy whi�h that agr�ement is modi�ied,
<br /> amended, ext�ndedr nr r�new�d without the priar written consent a� Lender. Trustvr shall neither reques� nor
<br /> accep�any fu�ure advances under any such se�urity agreemen�withaut the prior writt�n consent of Lender.
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