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��14�3559
<br /> �EED �F T�L1ST
<br /> Loan Na: 'i���75954 ��o�ltlnued� Page 4
<br /> �nsurance Program, or as otherwise r�quired by Lender, and t❑ mainta�n such �nsurance for the t�rm��the loan.
<br /> App�ication of Prv�eeds. Trus�a�shaif promptly notify L�nder of any foss ❑r damage to the Proper�y. Lender may
<br /> malce proo� af IQss if Trustor fiails ta d� so within fif�een �15} days of the �asualty. Vllhe�her vr na� Lender's
<br /> security is impaired, Lender may, at Lender's elec�ion, recei�e and retain the praceeds of any insurance and apply
<br /> �he proceeds �o �he reduc�i�n af the Indebtedness, payment ❑f any lien aff�cting the Praper�y, ❑r the restarat�on
<br /> and r�pair af the Pr�perty. If Lender elects to apply the prviceeds t� restarativn and repair, Trus�or shali repair or
<br /> replace th� damag�d ar des�royed Impro�ements in a t-nanner sa�is�a�tory �o Lender. Lender shall, upon
<br /> sa�isfa�t�ry proof of such expenditure, pay ar reimburse Trus�or from the proceeds �ar the reas�nable cast af
<br /> repair or res�oration if Trus�ar is not in de�ault under this Deed of Trust. Any p�oceeds which ha�e not been
<br /> disbursed wi�hin �84 days after their re��ipt and which Lend�r has not c�mmit�ed to the repair or restoration of
<br /> the Pr�perty shall be used first to pay any amount owing t❑ Lender under this Deed vf Trust, then �o pay accrued
<br /> int�res�, and �he remainder, if any, sha11 be applied t� #he principal balance o�r the lndebtedn�ss. E� Lender ho[ds
<br /> any proceeds after payment in full �f the lndebt�dness, such proceeds shall be paid ta Trus�or as Trusta�-'s
<br /> interes�s may app�ar,
<br /> Trustor's Report on Insurance. Up�n request of Lender. h�we�er not more than once a year, Trust�r shall furnish
<br /> to Lender a report on each existing policy vf insurance showing: 41 f the name of the insurer; ��y the risks
<br /> insur�c�; �3� the amount vf �he policy; �4� the praperty �nsured, the then current rep�acement �alue �f such
<br /> proper�y, and the manner❑�f de�errnining that Wa�ue; and {5} the expiratian date of the pvlicy. Trus�or sha�l, upon
<br /> request Qf Lender, ha�e an independent appraiser satisfactary to Lender d�t�rmine the cash�alue repfacemen�GQst
<br /> af�he Property,
<br /> LENDER'S EXPENDITURES. If any acti�n or praceeding is ��mmenced that would materially affect Lender's in�erest in
<br /> the Proper�y or ifi Trus�vr fails to comply wi�h any praWision of fhis Dead of Trus�or any Related Dacuments, �nc�uding
<br /> but no� limited to Trustor's failure �a dis�harge �r pay when due any amounts Trustar is requirad �� discharge vr pay
<br /> under this De�d of Trusf or any Fielated Documents, Lend�r on Trus�tor's behalf may �but sha11 no�be a�ligated to� take
<br /> any action �ha� Lender de�ms appropriate, including but no� limi�ed ta discharging or paying a�I �aX�S� Eiens, security
<br /> in�eres�s, encumbrances and other claims. at any time levied or p�aced on the Properfiy and paying all c�sts for insuring.
<br /> maintaining and pres�rving th� Pr�perty. A[I such expenditures incurred or paid by Lender far such purposes wi�l �hen
<br /> b�ar interest at �he rate char�ed und�r �he N�te �r�m the da�te in�urred or paid by Lender�� �h� date of repayment by
<br /> Trus�or. All such expenses wili became a part ❑f the �ndebtedness and, at Lender's aption, will {A� be payable on
<br /> demand; {B� �e added �o the �alance af the Nat� and be appvrtioned arnong and t�e payabl� wi�h any insta�lm�n�
<br /> payments to b�cvme due during either �1} the term ��f any applicable insuranc� po[icy; or {�� �h� r�maining t�rm n�F
<br /> the Note; ar ��} be treated as a ballaon payment which wilE he due and payable at the Not�'s maturity. The Deed �f
<br /> Trust aiso will secure paymenfi ofi these am�unts. Such right sha[I �e in addi�ion tc� a11 ofiher rights and remedies to
<br /> which Lend�r may he entitled upan ❑efauft.
<br /> VIIaRRANTY; DEFENSE 4F T�TLE. The fo�lv�rving pro�isions rela�ing�a ownersh�p vf th� Property are a part of this Deed
<br /> �f Trust:
<br /> Title. Trustor warran�s that. �a� Trustor halds goad and marketab�e �ifile �� record ta �he Property in �ee simple,
<br /> fre� and �lear of aEl iiens and en�umbrances ath�r than thvse set �v�th in the Real Proper�y description or in any
<br /> title insurance pa[icy, title repor�, or fina! ti�le flpinivn issued in favor o'�, and accepted by. L�nder in connectian
<br /> _ with this Deed ❑f Trust, and �b} Trustor has the full right, p�wer, and authori�y to execu�e and deli�er this Deed of
<br /> Trus�to Lender.
<br /> � Defense a�F Titfe. 5ubjec� to the ex�eptian in the paragraph above, Trustar warrants and wiil fare�er def�nd the
<br /> titfe t� �he Proper�y aga�nst�he favufiul claims af al[ persons. !n the e�ent any acfiion or proceeding is commenced
<br /> that questians Trustor's �itle or the �nt�rest of Trus�ee or Lender under this Deed vf Trust,Trustvr shall defend the
<br /> a�tion a�Trustor's �xpense. Trustar may be �he n�minal party in su�h proceeding, but Lender shaEl be entitled �a
<br /> par�icipate in �h� praceeding and to be r�present�d in �he proceeding by counsel of Lender's �wn chvice, and
<br /> Trus�vr will deli�er, or cause tv be deli�ered, �a Lender such instruments as Lender may request from time tv �ime
<br /> ta permit such par�i�ipation.
<br /> Camplian�e Wi�h Laws. Trustar warrants #ha� the P�aperty and Trustor's use vf fhe Property complies with all
<br /> existin� applicable�aws, ordinan�es, and regulations of g�vernrnen'�a1 au�hvrities.
<br /> Surviva[ of Representa�ions and 1ll�arranties. All representations, warran�i�s, and agreements made by Trus�vr �n
<br /> this Deed of Trust shai[ sur�ive the execution and delivery of this aeed o�Trust. shall b� continuing in nature, and
<br /> shall remain in full force and effect unti�such�ime as gorrower's lndebtedness shall �e paid in fu11.
<br /> C�NDEIV�NAT1�Ne The folfowing provisions relating to condemnation proceedings are a part of this Deed ofi T�ust:
<br /> Proceedingse If any proceeding in �andemnation is filed, Trust�r shal� prvmpfily notify Lender in uvriting, and
<br /> Trustar shall pr�mp�ly take su�h st�ps as may be necessary to defsnd �he action and abtaEn the award, Trustor
<br /> may�e�he nominal party in such pro�eeding, but Lender shall be entitled to par�icipa�e in the praceeding and�o be
<br /> reQresented in the pra�eeding by cvunsel of its �wn choice, and Trustor will deliver or cause ta �e deli�ered �o
<br /> L�nd�r such ins�ruments and dacumentation as may be requested by Lender fram �ime ta time �a permit such
<br /> partEcipa�ion.
<br /> Application af Net Prviceeds. It all �r any part af the Pr�per�ry is condemned by eminent domain praceedings ar by
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