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��14�4�95
<br /> L�EE� �F TRUST
<br /> L�an Na: 'i��7��75 � �Cont��ued� Pag� 3
<br /> c�verages will not be �anceE��d or d'€minished withaut a� least�en ���} days p�ior wri�tt�n notice to Lender, Each
<br /> insurance policy a[s� shall include an endorsement pro�iding that ca�erage �n faWor o� L�nder w�[[ not be impaired
<br /> in any v5ray by any a��, omission or defau�t of Trus��r or any o�her person. Shou[d �he Real Proper�y be lo�ated in
<br /> an area des�gna�ed by th�Administratvr ofi t�� Federaf Emergency Managemen�Agency as a special f[ood hazard
<br /> area, Trustor agrees ta vbtain and maintain Federa[ Fjood Insurance, if a�ai[able, fr�r the fu[[ unpa�d principal
<br /> balanc�of the [oan and an�pr�or liens on the prvper�ty securing the laan, up to the ma�imum policy Eimits set under
<br /> the Nat�anal F[ood [nsurance Program, or as o�he�wise required by Lender, and �o maintain such insurance �or�he
<br /> �erm a�the loan..
<br /> AppIi�atRon of Proceeds. Trustor shall promptiy notify Lender o�a.ny [oss or damage to the Pr�perty. Lender may
<br /> make pro�f vf loss if Trustor fails �o do s� wifihin ���f�een t'[5} days of �he �asualty. Vllhe�her or not Lende�-rs
<br /> seCurity is impaired, Lender may.�at Lenderrs elec�ion� receive and retain the proceeds o�any insuran�e and apply
<br /> -�he proceeds to �he reduction o�the lndebtedness, payment of any Iien affectEng the Prvperty, or the rest�ration
<br /> and repair of the Pr�perty. [f Lander e[ects to apply�he proceeds tv restora�ion and repai�-, Trus�or shall repair or
<br /> replace the damaged or des�royed lmprovements in a manner satis�ac�ory to Lender. Lender sha�l, upon
<br /> satisfactory praof af such expendi�ure, pay or reimburse Trustor from fihe pr�cesds -�ar -�he reasonab[e cos� ofi
<br /> repair or r�stora�ion if Trus��r is not in de�ault under this Deed of Trus�. Any proceeds which have not been
<br /> disburs�d wi-�hin 18Q days after their receip-t and wh�c� Lender has no� committed to the repair or rest�ration vf
<br /> the Pr�per�y shall be used first to pay any amaun�t olnring to Lender under this Deed vf Trus�, then ta pay acerued
<br /> in�eres�, and �he remainderr if any, shal[ be app[ied to �he principal baEance of th� [ndek��edn�ess. �f Lender ho�ds
<br /> any proceeds after paymenf in fu�l of the IndeE�fi�dness, such prac�eds s.hall be paid �o Trustor as Trustar's
<br /> in�erests may appear.
<br /> Gvmp[iance with Existing �ndeb#edness. During �he period in which any Existing lndebtedness described below is
<br /> in effect, campliance with the �nsurance pro�isions C�ntained in th� instrument e�ic�encing such Exis�ing
<br /> �ndebtedness shai[ consti�ute compliance with the insurance pra�isi�ns under this Deed of Trust, �o the e��en�
<br /> compliance with the terms o��his I��ed �f T�-ust would consti�ute a duplica�ivn ❑� insurance requiremen�. If any
<br /> proceeds��orn the insurance �ecome payable on loss, the provis�ons in this Deed of Trus�for di�ision of proceeds
<br /> sha��appfy❑n[y to th��k pvr�ion af fihe proceeds not payable�o the ho[der vf the Exis�ing lndebtedness.
<br /> LENIDER'S IEXPENDfTURES. [f T�us�or fails �A} to keep the Property free �f aIl taxes, liens, security interests,
<br /> encumbrances; and othe� clairns; �B� to provide any r�quired insurance on the Property, �C} tv make repairs tv the
<br /> Prvper�y or to comply with a�y ob[ir�ation to rnasntain �xistin� �nde�tedness �n good standing as �equired below. �hen
<br /> Lender may do sQ. 1� any action or proceeding �s �omrnenced tha� would mater�a��y a€�ect Lender's interes�s in the
<br /> Property, then Lender an Trustor's beha�� may, i�u� €s no� r�quired �o, ��ke any ac�ion tha� Lender believes to �e
<br /> apprapriate �a protect L�nd�r's interests. Afl expenses �ncurred vr paid by L�nder far such purposes wi[� then bear
<br /> �nteres� at �he rate charged under the Nate frvm the date incurred o�- paid by Lender �ta the da�e o-� repaymen� hy
<br /> Trust�r. A[� such expenses will become a par� of the Indebtedness and, afi Lender's option, wi�l tA� be payable on
<br /> demand; {B} b� added �o the balance of the N�t� and be appvrtioned among and be payahle wifih any ins�al�ment
<br /> payments t� b�came due during either �1} the term of any applicabEe insurance pa[icy; or �2} the remaining term �f
<br /> the N�t�, or �C} he treated as a ba�loon payment which will be due and payable at the No�e's maturity. The De�d af
<br /> Trus� a[so wi[[ secure payrrient of these amounts. The rights provided for in �his paragraph shall k�e in addit�on to any
<br /> o�her rights or any remedi�s �o which Lender may be en�it[ed on acc�un-� of any de�aul�. Any such acfiian by Lender
<br /> sha[[ no-t be construed as curing the de�au[t sa as to bar Lender�ram any remedy that i�vthe�wise wou[d have had.
<br /> �l1TAR�iAdV�Y;DEFENSE�F TI�fLE. The fo[[owing �rvvisions reEating to owr�ership o��he Proper�y ar�a pa�t of this Deed
<br /> af Trust: .
<br /> T�tle. Tr�astor warran�s that: {a� �rusior holds gvod and rr�arketable �tit�� of rec�rd to the Pa-aperry En fee simple,
<br /> ��ree and clear a� all liens and encumbrar�ces other �han those set farth in the Reai Proper�y descrip�ion or in �he
<br /> Exis�ing lndebtedness sec�ian below �r in any ti�le insurance policy, t�tle �-eport, or�final fiitfe opinivn issued in fa�or
<br /> of, and a�cep�ed by. Lender in connectian �nrith this Deed af Trus�, and �b} Trustor has the ful� righ�, power, and
<br /> autharity to execute and de�i�er�his Deed o€Trust tv Lender,
<br /> Defense af T�t�e. Sub�ect ta the excep�ion in �he paragraph a�o�e; Trustor warrants an� wili �orever defend the
<br /> title �o the Property against�he lawfu� claims Q�a[f persons. �n the eWen� any action vr proceeding is cammenced
<br /> tha�questions Trustor's title or the interest of Trustee vr Lender under this Deed of Trust, Trustor sha[[ d��end the
<br /> ac�ion at Trustor's expense. Trustar may be the nominal par�y in such proceeding, t�ut Lend�r sha[l be entit�ed ta
<br /> par�tc�pate in �he praceed�ng and �o be represent�d in the �roceeding by counsef of L�nder's own choice, and
<br /> Trustor vui[i deli�er, vr cause to be d�l��ered, �o Lender such ins�rumenfis as Lend�r may�equest��am �ime to time
<br /> to permi�such p�rticipa�ion.
<br /> Cvmpliance 1Nith Lav►rs. �rustvr �►varran�s �hat th� �roperty and Trust�r°s �se vf �he Praper�y comp[ies with alI
<br /> existing app[i�a�1��aws,ordinances, anc� �-egu�a�ions of c�o�ernrraenta[au�horitees,
<br /> 5urvirral vf Prornises. A11 promises, agreements, and s�a�ements Trustor has made in �h�s ❑eed o� Trust shall
<br /> sur�i�e the ex�cution and deli�ery o�this Deed vf Trust, sha�� be continuing in nature and shall remain in full force
<br /> and effect unfil such time as gorra�rver's [nde�tedness is paid in fulf. �
<br /> EXISTIN��NDEBTEDNESS. The f�l�owing pro�isiQns cancerning E��sting [ndebtedness are a part of this Deed��Trust:
<br /> Existing L�en. The Iien o�r th�s Deed of Trust securing the lndeb�edness may b� sec�ndary and inferio� to an
<br /> sxis�ing lien. Trustor expressfy co�enants and agrees�o pay, or see to tE�e paymen�of, the Exist�ng lnd�btedness
<br /> and t� prevent any de�ault on such indehtedness, any defau[t under the insfiruments e�idencEng such indebtedness,
<br /> or any de�rauit ur�der any s�curdty documents�or such indebtedness.
<br /> No ll�vd'afication. Trus�or shali not enter rnto any agr�ernera� �nri�h the hfllder of any m�r�gag�, �eed o� trus�, or
<br /> other securi�� agreemen-� whiGh has �riori�y ��er �his De�d o�r Trust by which that agreement is rnadi�ied,
<br /> arnen�edl, ��ter�ded, or renevtired wi�hou� �he �r�or wri�ter� e�r�sent v� Le.nder. T�ustor shail neither �-eques� �or
<br /> accept any futu�e advances under any such securit�o agreemen��nrithaut�he prior writ�en cansen�vf Lender.
<br /> C�NDF�IIiNATlDN. The fv[fvwing pro�isions r�lating to condemna�tionr praceedings are a part v�this Deed of Trus�:
<br /> Procee�nc�s. [f any proceeding in c�nd�mnation is �iled, Trus�or shall pramptly notify Lender in writing f and
<br /> Trustor sha�� prompt�y take such steps as may be ne�essary to defend �he action and obtain the awa�d. T�us�vr
<br /> may be the naminal party in such praceeding, but Lender shall be ent�tE�d to parti�ipate in the proceeding and t� be
<br /> represented in -the proceedEng by �ounse[ of its oinrn chaice, and Trustor will defi�er or �ause to be deliriered ta
<br /> Lender such instruments and documen�a-tion as m.ay be �eques�ed by Lender from �ime ta t�me to permit such
<br /> parti�ipation.
<br /> e4pplication o�Net Proceeds. l�all ar any par���the Proper�y is condemr�ed b�emin�nt domain proceedings �r by
<br /> any proceeding or purchase in �ieu a�conder�nat�onr Lender ma}�at its eiectivn �equire that all or any portion v��he
<br /> net praceeds o� �h� award f�e applied to the lndeb�edness �r $he repair vr res�or�tion o� the �'raper�y. The net
<br /> proceeds of the award sha11 mean the award after pay�ent v�aff reasonabl� eos�s, expenses, and a��orneys° f��s
<br /> incurred by Trus�e�or�en�er Yn c�nr�ectEon wi�h the�ondemna�ion.
<br /> IMPDSIT�ON �F TA�CES. FEES A►1VD CHARGES �Y ���IEF�NfViENTAL AUTHDR1�fIE5. Th� fo!lowing pro�isions relating
<br /> �t�go�ernmen�a[taxes,fees and charges are a part o�this Deed of Trust:
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