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��14�43�1
<br /> � aEE� �F -rRus�r
<br /> L�an No: '�D'1�77568 ��ont�r�u�d� Page 4
<br /> �h� praceeds tv fhe reduc�ian ��the Indebtedness, payment of any lien affecting �he Pr�perty, or the res�oratian
<br /> and repair af the Properfiy. I� Lender el�cts to apply�he proceeds �o restora�ion and repair, Trustor shall repair �r
<br /> replace the damaged ar destroyed lmpro�ements in a manner sa�isfactary ta LenderA Lender shall, upon
<br /> satisfactary proof ❑� such �xpenditure, pay vr reimburse Trus�or from the praceedS for the reasvnable cvst af
<br /> repair or restoration if Trustar �s not in default under this Deed af Trus�. Any proce�ds which hav� not been
<br /> dishursed within 18� days af�er their receip� and which Lender has not committed to the repair ar restoration of
<br /> the Property shall b� used first tv pay any am�unt owing �kv Lender under this Deed v�F Trust, then t� pay accrusd
<br /> interest, and the remainder, if any, shall �e applied ta the principal balance o� th� Ind�b�edness. �f Lender halds
<br /> any proceeds after �ayment in full a�f �he Inde��edness, such prviceeds shall be paid to Trustar as Trustvr's
<br /> int�rests may appear.
<br /> Compliance with Existing Indehtedness. During �he periad in which any Existing �ndebtedness described below is
<br /> in effect, c�m�lian�� with the insurance pra�isions contained in the instrument ev�d�ncing such Existing
<br /> Indebtedness shall constitute �ompEiance vuith th� insurance pravisians under this De�d of Trust, to �he extent
<br /> comp[ian�� with the terms of this Deed of Trust would �anstitute a dupli�atian af insurance �equirement. I�f any
<br /> proceeds from the insurance become payable an loss, the pro�isions in this Deed afi Trust for di�ision af proceeds
<br /> shall apply on�y t��hat portion of the pro�eeds n�t payable ta the h�lder of�he Existing Indebfiedness.
<br /> Trustvr's Repvr# on lnsuran�e. Upon requ�st of Lender, h�we�er not mare �han once a year, Trusfior shall furnish
<br /> t� Lender a report on each existing poli�y o� insurance showing: ��y �he name o� th� insurer; (�y th� risks
<br /> insured; �3y the amaunt o� th� pQlicy; �4} the proper�y insured, the th�n current replacement �alue of such
<br /> prap�rty, and the manner o�determining �hat�a1ue; and {5� the expira�ian date �f the p�[icy. Trustor sha�l, upon
<br /> reques��f Lender, have an independent appraiser satisfac�vey to Lend�r determine the cash�alue replacement cost
<br /> af�he Property.
<br /> LEN�ER'S E�PENDITURES. If any action or pro�eeding is ��mmenced tha� wou[d ma�e�ially affe�t Lender's interes� in
<br /> �he Property or if Trustor fails �o camply with any pravision af this Deed o�Trus� or any Related Documents, in�lud�ng
<br /> bu� not Iimited �o Trustor's failure to comply with any obligation fiv mainfiain Existing Ind�btedness in good standing as
<br /> required be[aw, or t�discharge or pay wh�n due any amoun�s Trustor is required to discharge or pay under this Deed of
<br /> Trust �r any Relat�d D�cuments� Lender an Trus�ar's b�half may �but shall nat be obiigated fo} tak� any a�tion that
<br /> Lender deems appropriate, inc[udin� but not limited �o dis�harging or paying all �axes, liens, s�curity interes�s,
<br /> encumbrances and ather claims, at any time IeWied ❑r placed on �he Property and paying all costs for insuring�
<br /> maintaining and preser�ing the Praperty. A11 such expendi�ures incurr�c� or paid by Lender for such purposes ►nril[ then
<br /> bear in�erest a��he rate charge� under the Note �rom the date incurred or paid by Lender to the dat� of repayment �y
<br /> Trus�or. A[1 such expenses will become a par� of �he Indebtedness and, afi Lender's optian, wil[ �Af �e payabje an
<br /> d�mand; [g} he added to the balance of the Note and he apportian�� amang and b� payab�e with any Ens�ailment
<br /> payments to be��m� du� during either {1� the term of any applicable insurance poli�y; or ��y the remaining term af
<br /> the No�e; or {C� b� �reated as a ball�on payment which will �e due and payable at�h� Nflte's maturity. The D�ed o�
<br /> Trust aiso will secur� payment �# these amounfise 5uch right shall be in addition to a�l other rights and remedies �o
<br /> whi�h Lender may b�entitled upan Default.
<br /> VIIARRANTY: DEFENSE OF T1TLE. The fallawing pro�isiQns relating�o ownersh�p❑f the Property are a part vf this Deed
<br /> af Trust:
<br /> TEtle. Trustor warrants that� �a} Trustor holds good and marketable title �f record to the Praperty �n fee simple.
<br /> �Free and c�ear of ali liens and encum�ran�es nfiher than those set �orth in the Real Prvperfiy descriptian or in the
<br /> Existing lndeb�edness section befaw or En any�it�e insurance policy, ti�le report, vr fina� �itle vpinion issued in favar
<br /> of, and accepted by, Lender in connection with this aeed o�F Trust, and' �b� Trustor has the �ul� r�ghf, power, and
<br /> authority to execute and de�iver this aeed o�Trust�o Lender.
<br /> D�fenss of Title. 5ubject to the ex��ptivn in the paragraph abo�e, Trust�r warrants and will fore�er defiend �he
<br /> �itie ta the Praperty against the lawful claims o�ali persons. In �he e�en� any action or prviceed�ng is ��mmenced
<br /> �hat ques�ions Trustor's ti�le or th� interest of Trustee or Lender under�his Deed o�r Trust, Trustor shall de�end the
<br /> action a� Trusfior's expens�. Trustor may be the naminal party in such pra�eeding, but Lender shall be enti�led to
<br /> participate �n the prviceeding and to b� represented in �he pr��eeding by counse{ af Lender's own choice, and
<br /> Trustor wi�l deliver, or cause ta �e deliver�d, t� L�nder such instruments as L�nder may re�uest from time to time
<br /> �a permit such�articEpatian.
<br /> Camplian�e Vlrith Laws. Trustor warrants that the Property and Trustar's us� �� the Property complies with all
<br /> existing applicable lavus, ordinances, and regula��ons vf go�ernmental authorities.
<br /> SurW�va1 of Repre�entativns and V1larranties. AII repr�sentations, warranties, and agreemen�s made by Trus�vr in
<br /> this Daed af Trusfi sha�l sur�i�e the execution and delivery of this Deed o�Trust, shall bs c�ntinuing in nature, and
<br /> shall remain in full for�e and effect until such time as Trustor's Indehtedness shall be paid in full.
<br /> EXISTING INDEBTEDNESS. The fo[lawing pr��isions concerning Exis�ing Indebtedness are a part of fhis Deed of Trust:
<br /> Existing Lien, The lien of this D��d �f Trust securing �he fnd���edness may be s�candary and in�erior t� an
<br /> �xis�ing lien. Trustor expressly cv�enants and agrees to pay, Qr see tv the payment o�, the Existing indebtedness
<br /> and to prevent any default�n such indebtedness, any default under the instruments evidencing such indeb�edness,
<br /> or any default under any securi�y documents for such indebtedness.
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