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��14�4915
<br /> DEED DF TRUST
<br /> Lvan Na: 1 D1�777�7 {Continued} Page 4
<br /> hazard, business interruption, and boi�er insurance, as Lender may reasonabIy require. P�licies shal� be wri��en in
<br /> �form, amounts, coverages and basis reasanably a��ep�able fio Lender and issued by a campany or companies
<br /> reasonably accep�ahle ta Lender. Trustor, upan reques� �f Lender, will deli�er to Lender from time �o time the
<br /> policies or �ertifi�ates o�f insurance in �orm satisfacfiory to Lender, in��uding s�ipulations �hat �o�erages will na� be
<br /> Gancelled or diminished withaut at Ieast ten ��0} days pri�r written noti�e to Lender. Each insurance pvlicy also
<br /> shall in�lude an�ndors�men�pro�iding�ha�ca�erage in fa�ar of Lender will not be impaired in any way by any act,
<br /> omission ❑r defaul� ❑f Trustar ❑r any other persvn. 5hould �he Real Proper�y be facafi�d in an area designated 1ay
<br /> the Adminisfira�vr vf the Federal Emergen�y Management Agen�y as a spe�ial flood hazard area, Trust�r agrees to
<br /> obtain and maintain Federal Fload lnsurance, if a�ai�abje, wi�hin 45 days a�ter n�tice is gi�en by Lender tha� the
<br /> Property is loca�ed in a special flood hazard area, for the full unpaid principal ba�ance of the loan and any prior liens
<br /> an�he property securing the loan, up to�he maximum poli�y limits set under the National Flaad fnsurance Pragram,
<br /> or as o�herwise required �y Lender, and�❑ maintain such insurance for fihe term af the loan.
<br /> App�ication vf Proceeds. T�us�vr shall promptly natify Lender��any Ivss ❑r damage �v fihe Praperty. Lender may
<br /> mak� proo�f of loss i�f Trus�or fails fia do s❑ within fift�en ��5} days of the casual�y. Vllhether or not Lender's
<br /> security is impaired, Lender may, at Lender's elecfiion, recei�e and retain the proce�ds ❑f any insuran�e and apply
<br /> the proceeds �o fihe reduction of the �ndebtedness, paymenfi ❑f any lien affecting the Property, ❑r the res�ora�ian
<br /> and repair ❑f�he Property. lf Lender elects t❑ apply the proceeds ta restvrativn and repair, Trustvr shall repair vr
<br /> replace �he damaged or destroyed lmpra�ements in a manner satisfac�ory ta Lender. Lender shall, upan
<br /> safiisfa�tory proof of such expendi�ure, pay or reimburse Trustor �rom th� proceeds far the reasonable cost ❑f
<br /> repair or restarat��n if Trustor is nat in default unde� this aeed of Trust. Any prv�eeds which have nvt been
<br /> dislaursed within 18� days af�er�their receipt and whi�h Lender has no� commi�ted �v the repair or restorati�n af
<br /> �he Prvperty shall be used fiirs�to pay any amvunfi owing ta Lender under this Deed o�Trust, �hen to pay accrued
<br /> interest, and �he remainder, if any, shall be applied �❑ the principal balanc� of the Indebtedness. ff Lender h�lds
<br /> any proceeds after payment in �ull vf the Indebfiedness, such praceeds sha�i be paid fi❑ Trustor as Trustor's
<br /> interests may appear.
<br /> Trus�ar's Repvr�on Insuran�e. Upon request of Lender, howeWer nv� mvre than once a year, Trustor shall �urnish
<br /> to Lender a repart on each exist�ng palicy of insurance showing: {'�} �he name of �he insur�r; ��} the risks
<br /> insured; �3} the amounfi of �he pai�cy; �4} the property insured, �he then current repla�ement �alue ❑� such
<br /> property, and the manner of determining that va�ue; and �5} the expiration date of the policy. Trus�or shall, upon
<br /> request vf L�nder, have an independent appraiser satis�actary tv Lender determine the cash�a�ue replacement cost
<br /> o�fihe Property.
<br /> LENDER'S EXPENDlTURES. �f any ac�i�n ar proceeding is �ommen�ed that w�uld materially affe�� Lender's interest in
<br /> the Proper�y or i�Trustor fails to camply with any pro�ision af this Deed �f T�ust or any Rela�ed ❑ocumen�s, inc�uding
<br /> but not limified fio Trus�or's failure fia dis�harge ar pay v�rhen due any amaunts Trustar is required �❑ discharge ❑r pay
<br /> under this Deed ofi Trus�or any Refafed ❑ocuments, Lender on Trustar's behalf may {but shall nvt be abliga�ed to} take
<br /> any action that Lender deems apprapria�e, including but no� limited �o discharging or paying al[ taxes, liens, security
<br /> interests, en�umhrances and ofiher claims, at any time �e�ied vr placed on the Proper�y and paying all cvsts�or insuring,
<br /> main�aining and preser�ing th� Property. All such expenditures in�urred or pa�d by Lender fvr such purpases will �hen
<br /> bsar in�er�st at the rate charged under the Note from the date incurred ❑r paid by Lender ta fihe date of repayment by
<br /> Trustor. All such expenses will become a par� �� the Indebtedness and, at Lender's �ption, vvi�I {A} be payable on
<br /> demand; {B� he added �v fihe halance v� the No�e and be apporfiioned amang and be payable with any installment
<br /> payments to bec�me due dur�ng ei�her ��� �he �erm of any applicable insurance p�licy; or �2} �he remaining term of
<br /> the Note; ❑r �C} 1ae treated as a laailoon payment which will be due and payab[e at the Nate's maturity. The ❑eed ❑f
<br /> Trust a�sa will se�ure payment ❑f these amaunts. 5uch right shall be in addi�ion t❑ al[ ather righ�s and remedies to
<br /> wh�ch Lender may be entitled upvn ❑efault.
<br /> VIrARRANTY; DEFENSE�F T1TLE. The fvllvwing pro�isions re�ating�❑ ownership a�the Praperty are a par�of this Deed
<br /> o�Trust:
<br /> Ti�Ce. Trustvr warrants that: �a� Trustor holds good and marketabie title o� r�cord �❑ �he Property in fee simple,
<br /> �ree and clear ❑f al� �iens and encumbranGes o�her than �hose set f�rth in the Reaf Property description ❑r in any
<br /> tit�e insuran�e palicy, title report, or final �itle opinian issued in favor ❑f, and accep��d by, Lend�r in connection
<br /> with�his Deed of Trust, and �b} Trus�or has the full righ�, p�wer, and authority t❑ execute and deli�er this I�eed ❑f
<br /> Trust to Lender.
<br /> ❑efense af Tit�e. 5ubject �o the exceptian in the paragraph abo�e, Trus�or warrants and wi�� �ore�er defend �he
<br /> tit�e to the Property against the iawful claims �f all persons. In the e�ent any activn �r praceeding is �ommenced
<br /> that ques�ians Trus�or's �itle or�he interest��Trus�ee ❑r Lender under this �eed af Trust, Trustor shall defend �he
<br /> actian a�Trustor's expense. Trusfior may be the nominal party in su�h praceeding, but Lender shall be entit�ed ta
<br /> pa�ti�ipa�e in �he pr�c�eding and ta he represented in the proceeding by cvunsel of Lender's own chvi�e, and
<br /> Trusfior will deli��r, ❑r cause to be delivered, t❑ Lender such instrumen�s as Lender may reques��from fiime fi❑ time
<br /> to permit such participation.
<br /> Cvmplian�e V11ith Laws. Trustor warrants thafi the Property and Trus�or's use of fihe Praperty complies wi�h all
<br /> exis�ing applicable �aws, ordinances, and regulations of gv�ernmenfial authorities.
<br /> Survival of Fiepresen�ations and 11Varran�ies. All representat�ons, warranfiies, and agreemenfis made by Trustor in
<br /> �his ❑eed vf Trust shall sur�i�e the execution and deli�ery of�his fleed ❑f Trust, shaf� be continuing in na�ur�, and
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