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201403961
<br /> DEED QF TRl1ST
<br /> Loan No: 101277301 (Cot�tillueCl) Page 4
<br /> any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as Trustor's
<br /> interests may appear.
<br /> Trustor's Report on Insurance. Upon request of Lender, however not more than once a year, Trustor shall furnish
<br /> to Lender a report on each existing policy of insurance showing: (1) the name of the insurer, (2} the risks
<br /> insured; (3) the amount of the policy; (4) the property insured, the then current replacement value of such
<br /> property, and the manner of determining that value; and (5) the expiration date of the policy. Trustor shall, upon
<br /> request of Lender, have an independent appraiser satisfactory to Lender determine the cash value replacement cost
<br /> of the Property.
<br /> LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's inte�est in
<br /> the Property or if Trustor fails to compiy witf� any provision of this Deed of Trust or any Related Documents, including
<br /> but not limited to Trustor's failure to discharge or pay when due any amounts Trustor is required to discharge or pay
<br /> under this Deed of Trust or any Related Documents, Lender on Trustor`s behalf may {but shall not be obligated to) take
<br /> any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security
<br /> interests, encumbrances and other claims, at any time levied or placed on the Property and paying all costs for insuring,
<br /> maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will tfien
<br /> bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by
<br /> Trustor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on
<br /> demand; (B) be added to the balance of the Note and be apportioned among and be payable with any instaliment
<br /> payments to become due during either (1) the term of any applicable insurance policy; or (2) the remafning term of
<br /> the Note; or (C) be treated as a bafloon payment whicfi will be due and payabfe at the Note's maturity. The Deed of
<br /> Trust also will secure payment of these amounts. Such right shall be in addition fo all other rights and remedies to
<br /> which Lender may be entitled upon Default.
<br /> WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed
<br /> of Trust:
<br /> rrtle. Trustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple,
<br /> free and clear of all liens and encumbrances other than those set forth in the Real Property description or in any
<br /> title insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection
<br /> with this Deed of Trust, and (b)Trustor has the full right, power, and authority to execute and deliver this Deed of
<br /> Trust to Lender.
<br /> Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the
<br /> title to the Property against the lawful claims of all persons. in the event any action or proceeding is commenced
<br /> that questions Trustor's title or the interest of Trustee or Lender under this Deed of Trust,Trustor shall defend the
<br /> action at Trustor's expense. Trustor may be the nominal party in such proceeding, but Lender shall be entitled to
<br /> participate in the proaeeding and to be represented in the proceeding by counsel of Lender`s own choice, and
<br /> Trustor will defiver, or cause to be delivered,to Lender such instruments as Lender may request from time to time
<br /> to permit such participation.
<br /> Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all
<br /> existing applicable laws, ordinances, and regulations of governmental authorities.
<br /> Survival of Representations and 1Narranties. A(I representatFons, wartanties, and agreements made by Trustor in
<br /> this Deed of Trust shall survive the execution and delivery of this Deed of Trust, shall be continuing in nature, and
<br /> shall remain in full force and effect until such tirne as Trustor's Indebtedness shall be paid in full.
<br /> CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br /> Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and
<br /> Trustor shall promptly take such steps as may be necessary to defend the action and obtain the award. Trustor
<br /> may be the nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be
<br /> represented in the proceeding by counsel of its own choice, and Trusto�will deliver or cause to be delivered to
<br /> Lender such instruments and documentation as may be requested by Lender from time to time to permit such
<br /> participation.
<br /> Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by
<br /> any proceeding or purchase in lieu of condemnation, Lender may at its election require that all or any portion of the
<br /> net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property. The net
<br /> proceeds of the award shall mean the award after payment of atl reasonable costs, expenses, and attorneys' fees
<br /> incurred by Trustee or Lender in connection with the condemnation.
<br /> IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORtTlES, The following provisions relating
<br /> to governmental taxes,fees and charges are a part of this Deed of Trust:
<br /> Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addition to
<br /> this Deed of Trust and take whatever other action is requested by Lender to perfect and continue Lender's lien on
<br /> the Real Property. Trustor shall reimburse Lender for all taxes, as described below, together with all expenses
<br /> incurced in recording, perfecting or continuing this Deed of Trust, including without limitation atl taxes, fees,
<br /> documentary stamps, and other charges fior recording or registering this Deed of Trust.
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