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� ��14�37��
<br /> �3EE� �F TRLJ��
<br /> Laan No; 1���97��
<br /> {C��t�n��d� ���� �
<br /> ��verages �nrill not be �ance�led or diminished wi�hout at �eas�ten {��} days pr�v� wr�tten notice t� Lender. Each
<br /> insurance po�icy a[s� shali in�lude an endorsemen� pr��iding that cove�-age in �a�or afi Lender wi[[ not be impa�red
<br /> in any way by any act, omission or de�ault of Trustor vr any othe� persan. Should the Rea� Prop���y be located in
<br /> an area designa�ed by�he Administratar of the Federal Emergency Managemen�Agency as a specia� f[oQd hazard
<br /> area, Trustor agrees ta ob-�a�n and ma�ntain Federa� Flood Insuran�e, if avai�ahle, �f�r the �ull unpaid p��ncipa[
<br /> balance af the loan and any prior[�ens an the property�ecuring the loan, up to the maxEmum po[icy Ixmits set under
<br /> the National Flood Insurance Program, or as o�herwise required by L�nder, and to mainta�n such insurance ��r�he
<br /> �erm of the�oan.
<br /> Applicativn vf Proceeds. Trus-�vr sh�11 prompt[y notify Lender o�any [pss or damage to the Properry. Lenc�er rr�ay
<br /> rnake prvof o� [vss if Trustor fails to do so v�rith�n fifteen 415} days of �he casualty. Whe�her or not Lender's
<br /> security is impaered, Lender may, a� Lender's efection, reGe��e and retain �he proceeds of any insurance and apply
<br /> �he proce�ds �a the r�duc�ian vf �he �ndehtednessr payment v� any lien a�fecting the Properky, or the res�aration
<br /> and repair of the Property, �f Lender el�cts�o app�y the proeeeds fio restvration and repair, Trustor shall repai�or
<br /> replace fihe damaged or d�stroyed improvements in a manner satis�actory to Lender. Lender sha��, upon
<br /> sa�is�actory proof of su�h e�pendEture, pay or reimburse Trustar -��-om the prviceeds �or �he reasonab�e cos� of
<br /> repair or res�ora�ion if Trustar is not in de�Fau�t under �his De�d a� Trust. Any proceeds which ha�e not been
<br /> disbursed wi-�hin 3 8� days after �heir receipt and v�rhich Lender has not commit�ed to �he repair or restoration of
<br /> the Prvperfy shall b� used firs��a pay any amount owing �o Lender under this Deed of Trus�, then to pay ac�rued
<br /> interest, and the remainder, if any, shal[ he app�i�d t� the prin�ipa[ balance of the lnd�b�edness. if Lender holds
<br /> any pr�c�eds after payment in €ull of the �ndebtedness, such proceeds sha�€ be paid tfl T�-ustor as Trusfiorrs
<br /> infierests may appear.
<br /> LENDER'S E�PEIVQI�'UF�ES. �f Trus�or fia�ls {A} to keep �he Prvperty free of a[� taxes, liens, security interests,
<br /> encumb�ances. and o�her�[aimsf �B} �o provide any requir�d �nsurance on the Property, or �C} to make repairs to the
<br /> Prvper�y �hen Lender r-r�ay do so. ff any ac�ior� or proceeding is commenced that v►rou[d r-�a�eriaf�y affect Lend�r's
<br /> in�erests in the Praperty, then Lender on Trus�vr's beha�� may, but is not required to� ta;ke any action �haf Lender
<br /> helieves�a he appro�riat�to protect LenderFs interests. A�! expenses incurred or pa�d by Lende�r for such pu�-poses wil�
<br /> then bear interest afi the ra�e charged under the Note from the date incurred ��-paid hy Lender to�he da�� o�repayment
<br /> by Trustor. A[I such expens�s wi[[ become a part o�the [nde�btedness and� at Lender's aptifln, will �A� be payable on
<br /> demand, �B} be added �o the ba�ance of th� Note and be apportioned among and be payab�e with any insta�imen�
<br /> payments �o become du� during either {1} �he term of any appCicable insurance poli�y; or �2� the remaining term of
<br /> the Note; or �C) be�rea�ed as a E�alloon paymen�which wii[ be due and payab[e at the Note's ma�ur�ty. The Deed v�
<br /> Trust also will secure pa�ment o�these amounts. The ri�hts pra�ided for in this paragraph sh.a31 be in add�tion ta any
<br /> o�her rights o� any remed�es �v vvhich Lender may be �ntitled on account o� any defau[t. Any such ac��on by Lender
<br /> sha[l not be cvnstrued as curing�he default so as to bar Lender�rom any remedy that Et o�herw�s�wou[d ha�e had.
<br /> V11'e4FiRANTY; D��lENSE�F TITLE. T�e fo[lowing pro�isions rela�ing to ownership of the Proper�y are a pa:rt of�his Deed
<br /> o�T�rus�:
<br /> Titie. Trustar warran�s that: {a} -C�ustvr hoids gvod an.d rr�arketab�e t�tie of recard to the Pr�perty ir�-�ee simple,
<br /> fre� and clear o-� aIi [iens and �ncumbran�es other than those se�t �ar�h in the �eaE P�operty des�ription or in any
<br /> �i�[e �nsurance po�icy, tit�e repor�, vr tinal titf� opinion issued in fa�or of, and accepted by, Lender in cannection
<br /> with�his Deed of Trus��and �b} Trustor has-�he fu[[ righ�, power, and authori-ty to execute and deli�er�his Deed of
<br /> Trust to Lender,
<br /> Defense af Ti�Ie. Subject�o the e�ception in the paragraph abo�e, Trustor warrants an� wi.�! �oreWer defend the
<br /> ti�le to �he Prop�rfy against�he lawfu[ c�aims of all persons. In the even�any actian or pro�eed�ng is camm�nced
<br /> that questivns T�us�or's t�tle�r�he �n�erest of T�-ustee or Lend�r under this Deed a�r Trust,Trustor sha[� defend the
<br /> activn at Trustor's expense. Trustar may be �he nomina� party in such p�-oceed�ng, bu�Lender shall be ent�tled ta
<br /> part�cipat� in the pr�ceeding and to be re�resen�ed in �he �s�oeeed�nq �y counse� o� Lender°s own chvice, and
<br /> Trustor�rvi�l deli�er, or cause�o be de�i�ered, t� Lender such instrurr�ents as Lender m�� reu�ues��rom time to time
<br /> �o perr��t��s�� ���'�i�ipati�n�
<br /> �v��I��nc� '�ith �.��s. �rust�r �rvarr�nts tha� t�e �'rr�p��y and �rustor's �se of t�e 1'roperty complies wi�h all
<br /> �xisfiing applieable 1aws, or�inances, and reguCa�ions o�go�ernrnen�a[ authvr�ti�s.
<br /> Surviva[ o� Promises. A�1 promises, agreements, and s�atements Trustor has made in this Deed of Trust shall
<br /> sur�iWe the execut�on and deli�ery o�this Deed of Trust, sha[! be �an�inuing in nature and sha�E rernain in�u�i force
<br /> and effeat until such time as Barrov�rer's Indebt�dness is paid in fu[[.
<br /> C�NDEI�fI.NAT��N. The follvwing pro�isions relating to condemnation proceedings are a part af#his Deed of Trust:
<br /> Pro�eedings. lf any proceeding in cvndemnat�on is �iledr Trustor sha[[ promptly noti�y Lender in wrifiing, and
<br /> Trustar shalC promp�[y take such steps as may b� necessary t� defend the ac�ion and ob�ain the award. �T�-ustor
<br /> may he the norninal par�y in such pro�eeding, b�a�Lend.er shall be entitled to participate ir�the prv�eed�ing and ta be
<br /> represen�ed in �he pro�eeding by caunsel of its �vvn choice, and Yrus-��r wilC �Ieli��r or c�use to be deli�er�d to
<br /> Lende� such Enstruments and documentation as �nay be requested by Ler�c�er fram �ime �o ��me -�� �er�rait such
<br /> parzic�pa��on.
<br /> I�p�a�icat�vn v�Ne�Proce�ds. ��a[� ar any pant o��h� �'roperty �s c�r�demr�ed hy�r�in�nt dor�na�� ���ceedfngs or by
<br /> any prviceeding or purchase in [ie�o�conder�n��ion� �ender sr�a�r�fi its e�e��ivn require�ha�ai[��-any portian of-�he
<br /> n�-� proceeds of the aVvard be applied to the [ndef�tedness or the repair or res�oratEon o� �he Properky. -fhe ne�
<br /> prac�eds o�the award shail mean �he award af�er paymen���aff reasonab[e cos�s, expenses, and a���rneys' �ees
<br /> incu�red by Trustee or Lender in cvnnecti�n wi�h�he cvndemnatian.
<br /> [ll[tPC]SITI�N �F TAXES, FEES AND �HARGES BY G�VERNMENTAL AUTHO�IT�ES. The fo[Cawin� pro�isions relatin�
<br /> to governmenta�taxe-s,fees and cha�-�es a�e a part of this Deed of Trust:
<br /> Current Taxes, Fees and Cha�r�es. Upon request by Lende�-f Trus��r shali execu�e such documents in addit�on tQ
<br /> th�s Deed o�Trust and take whatever other action is �equested b� Lender to pe�fec�and continue Lender's �ien o�
<br /> t�� F�ea� Property, Trus�ar shaif reimburse Lende� for a�� ��xe.s, as desc�i�ed h�elow� �ogether v�E�h a9� e�per�ses
<br /> incurred �n r�carding, per�ecting or con-�in�aing �hi� �ee� �f �r�s-�, including vvithout �imi�ation all ta�ce�� �e�s,
<br /> dacurr�en�a�-�r st�m�sy ancf a�her cha�ges�or�ec�r�ing a�-�-e��s�ering�his �3�ed ���"r�s�a
<br /> Taxes. �he fo!lowing shall c�ns�i�ute ��x�s �o �rvh�ch fihis se��ion applieso ��� a �p���'�'sc �a� upon tf��s �y�� v�
<br /> Deed o��rus� ar upon �I1 or any par� �f��e lr�deb�e€�nes� secured b� this ��ec� o���-�ss�; ��� a specific �a�c �r�
<br /> Borrvv+rer�nrh�ch Borrower is au�hori�ed o�-requi�-ed to deduct f�-om pa.yme�ts or��ne lndebted�ess securec� by fihi's
<br /> �type of Deed of Trust; �33 a �ax on this type of �eed af Trust chargeabl� against the Lender ar the h�[der o�t�e
<br /> Note, and {4� a specific �ax on all ❑r any portion of the [ndebtedness or on payments o�r principal ar�d interest
<br /> made by Borrower.
<br /> Subsequent Taxes. I� any ta�€ to which �his s�c�ion app[ies is ena�ted suhsequen� to the da�e o�r this Deed a�
<br /> T�ust, this ��ent shall ha�e �he same effect as an Event o�F �e�aul�t, and Lender may exercise any or a[[ a� its
<br /> a�ailabie remed�es �Qr an E�ent o�F Defau[t as pr�vided b��ow unless Trustor either ��� pays th� tax before i�
<br /> beeomes de�inquent, or �2} contes�s the tax as provid�d abo�e in �he Taxes and Liens section and deposi�s with
<br /> Lender cash or a su�F�ic�en�corporate sure�band a�other securi�ky sa�isfac�ar�to L�nder.
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