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<br /> �3E��] [3F T�U�T �
<br /> L��r� N�: 7����7�� �C�l�t�nu�d} Page 3
<br /> and repair of the Property. !f Lender�����s to app[y the proceeds to re�tora�ion and repair, Trustor shall repa�r or
<br /> rep[a�� the damaged or desfiroyed Empro�ernents in a manner sa�isfactory to Lender. Lender shafl, upon
<br /> sa�isfact�ry proo� of such expenditure, pay ar reimburse T�ustor €rvm the pro�eeds �or the r�asanable cost o�
<br /> repair or restora�ion if Trusto�- is n�t in defauE�k under �his Deed o� Trust. Any pro�eeds which ha�e not been
<br /> disbursed vtirithin �8� days a�ter �heir receipt and v+rhich Lender has not committed ta the repair �r restara�ion a�
<br /> �he Prop�r�y sha[I be used frrst to pay any amount owing ta Lender under this Deed o�Trusrt, �hen �a pay aecrued
<br /> interest, and �he �emainder, if any, shaf� be applied �o the prEncipa[ balanc� o� �he lndebtedness. �f Lender hv[ds
<br /> any pr�ceeds after paymen� in �ull o�F the �ndebtedness, such proceeds shaC[ be paid to Trust�r as Trusta�r's
<br /> in�erests may appear.
<br /> Corn�Iiance with Existing Indebtedness. auring �he period in which any Existing �ndeb�k�dn�ss described E�e�aw is
<br /> in effect, complianGe wi�h �he insurance p�o�isi�ns contained in the ins-�rumen� evidencin� such Existing
<br /> Indebtedness shall �onstitu�e compl�ance v►rith fihe insuran-�e pro�isi�ns under this aeed of Trus�, to the e�tent
<br /> compliance with the-t��-ms af�kh�s ❑eed of Trust would cons�i�u-�e a dupCicatian vf insurance requiremen�. l� any
<br /> proceeds from the insurance be�ame payab�e on �ossr the provisions in this Deed of Trust#or di��s�on o�proceeds
<br /> shall app[y only to that porfiion of�he proeeeds not payab�e�to�he hvlder of�he E�eisting Indebtedness.
<br /> LEMDER'S E)CPENOITU�iES. lf Trustor fails �A} ta l�eep the Property free af all �axes, �iens, security in�erests,
<br /> encumbrances, and other c[aims, {B} ta pro�ide any required �nsurance fln �he Property, tC} tv make repairs t� the
<br /> Property or�to comp�y vv�th any vbligation tv main�ain E�isting lndebtedness in gaad standing as r�quired helow, �khen
<br /> Lender may do so. [# any action or pr�ceeding is commeneed that Lrvould materia��y affect Lender's int�rests in �he
<br /> Property, then Lender on Trustor's beha[f may, but is no� required �o, t�ke any action that Lender bel�e�es �o be
<br /> appropria�e to pro�ect Lender's interes�ts. Al[ e�penses incurred or paid hy Lender far such purpas�s wi[I then bear
<br /> �nteres� at �he �-ate charged under th� Note frort7 �he da�e incurred or paid hy Lender �o the date of repaymen�t �y
<br /> Trus�kor. A11 such e�epenses rrvi[[ become a part o�the indehtedness and, at Lender's vp�ion, wil[ �A} be payahle on
<br /> demand; {B} be added tv the balance o�F the No�e and b� apportioned among and be payable with any �ns�a[[ment
<br /> payments ta become due during either �1} the term o€ any app[Ecahle insuranc� policy; or {�} the remaEn�ng �erm o#
<br /> �he Note; or �C} be trea�ed as a balloon paymen� which wi[[ �ae due and payab[e a�the Note's maturity. The Deed of
<br /> Trust a[so w'r[f secure paymen� of these amounts. The righ�ts prov€ded f�r in �h"rs paragraph shal! �e �n addi��on �o any
<br /> other rights or any remedies �o which Lende�- may be en�it�ed on accaunt of any defaui-�. Any such action by L�nder
<br /> sha[[ not�e cvnstrued as curing the defauit so as�o bar Lender€rom any�-emedy that it otherwis�wfluld ha�e had..
<br /> �ISIARRAl1ITV; DEFENSE�F TITLE. The fo[Iov�ring prov�sions re�a�ing t� ownership of�ne Property are a part o�th�s ❑eed
<br /> o�F Trust:
<br /> Ti�[�. Trustor warr-an�s that: {a} -!-'rustor holds goad and marke�able tit�e of re�ord to the Praper�y En fe� simple,
<br /> free and ulear o�r a�� �iens and encumbrances o�f�er than�has� sef forth in �he R�a1 Property descrip�ivn flr in �he
<br /> Exis�ing �ndebtedness section be�ow ❑r in any t�tle insurance policy,t�tie repor-�, or�inal �i-t[e opinion issued in�Fa�or
<br /> ofi, and accep�ed by; Lender in connection with this De�d of Trust. and �b� Trusto� has the fu[� righ�, power, and
<br /> authvrity��e�eecute and deliver fihis Deed o�Trust�o Lender.
<br /> Defense nf Ti�te. 5ubject to �he exception in �he paragraph abo�e, Trustor warrants and wi[I fo�e�er defenci the
<br /> tit[e �o the Property againsfi th� Eawfu[ c�a�ms o�f a�l persans. ln�he event any action or proceeding �s commenced
<br /> that questions Trustor`s title ar the interest of T�rus�ee v�Lender under�h�s Deed o�Trust,Trustor shall defend the
<br /> ac�ion a�Trustor's expense. Trustor may be�he nomina[ party in suGh proceeding� but Lender shafl be ent�tled to
<br /> par-tic�pate in �he proceeding and to be represen�ed in the proc�ed'rng by counsel ❑�F Lende�-'s own choice, and
<br /> Trustor wil� deliWer, or cause�o be d�li�ered, to L�nder such ins�ruments as Lender may request�rom time to�ime
<br /> to permi�such par-ticiPa�ion.
<br /> �v�n���ance V�lith Laws. �rus�or warran�s �ha� $he Property and Trustor's use o� the Praper�y comp[ies with aCf
<br /> exisfiing applic�b�e 1aws,Qrdinar�ces, and r��ulat�ons of�o�ernrne���l authari�ies.
<br /> Surr►i�ra� v� Prorn�ses. �4[� promasesr ag�eer�ents� and sta�er�ents T�-�sto� h�s rnade ir� �his 7eed �f Trus� sha��
<br /> sur�ive�he �xe�ut�an and delivery of this Deed af Trust, shaCl �e�ontinuing in rtature and shall rer�a�n en ful� fo�ce
<br /> and�ffect unti[such tim�as Trustor's �ndeb�edn�ss is pa�d in�u�i.
<br /> EXIST�NG �NDEBTEDNE55. The fo[[owin� pro�isions concerning Existing lndebtedness are a pa�ofi this Deed of Trust:
<br /> E�cis�ing Lien. The I;en of this Deed of Trust securing the fndehtsdness may be secondary and inferior to an
<br /> e�cist€ng lien. Trustor e�p�-essly cavenants and agrees tv pay, or see t� the payment of��he E�€is�ing [ndebtedness
<br /> and ta pre�rent any-default on such indebtedness, any defau�t under the instrumen�s e�Ed�ncing such inde�tedness,
<br /> or any d�fau[t under any s�cur�ty documents for such indeb�edness,
<br /> Nv lVfc�difcation, Trustor shaf[ nflt ente� into any agreemen� wi�h th� ha[der �€ any m�rtgag�, deed v�truste or
<br /> vthe�- securi�y agreerr�ent which has priori�y ov�r th�s Deed of Trus� by which ��at agr��men�t �s modified,
<br /> amended, ex�ended, or renev�red wi�h�ut the prior wri�en c�nsent �of Lender. ��us�or- s�a[� neither request nor
<br /> accep�any�u�ure ac�vances u�der any such�ecuri��agreemen��v�thoufi�he pr��r�ritte����sent a���nder.
<br /> G�NDE1VIlVATI�N, The�ol��wi�g p�o�isions relat€ng�o condemnati�n proceedings are a par-�t o��his De�d o��rust:
<br /> Pr��eedings. �f any prac�eding in condemna�tion is -�led, Trus�or s�a[I promptly no�i-Fy Lender in writingr and
<br /> Tr�€s�vr shall promptly take such steps as may b� necessary to defend the action and obtain the award. Trus�tor
<br /> may be the nominal party in such proceeding, bufi Lender shall be en�kitled to participate in the proceeding and to he
<br /> repres�nted in the proceeding by c�unse[ of its a�nrn choice, and Trustor wil[ del��er or cause �o be deli�ered to
<br /> Lender such �nstrumen�s and documentat�an as may be requested by Lender �rom time to t�me to permi� such
<br /> participation.
<br /> AppIi�ation of Net Pro�eeds. lf all or any part o�t�e Prvperty is condemned by eminent dvmain proceedings ar by
<br /> any proceeding �r purchase in �ieu of condemna�ivn, Lende�r�ay at its e�ection requi�e thafi a[l or any par-t�pn o�the
<br /> net praceeds o� the a�nrard be applied t� the lndeb�edr�ess �ar the repair or �-es�orati�n �f th� �'ropertjr. Th� �e�r
<br /> proceeds �f the �ward shal� meara the award after �ayrrlen�ofi a11 reasonabl� costs, e�cp�nses, an� a�torn�;�rs° fee�
<br /> incurred I�y Trustee vr Lender en co�nec��on�vdth��e conderrt��t�one
<br /> �MP�SITI�IV �F TA�CES. FEE� A�11D CHA�GES �� G�VER��E111�'AL,A.UTH�R�TI��. �he �o�1o�i�g prov�sec��� re�atfnc�
<br /> �o go�ernmen�al taxes,fees and charg�s are a part�f this De�d o�T��s�:
<br /> Curren�Taxes, Fees and �harges. Upon reques� by Lender, �"rustor snal� execute such d�cuments i-n addi�ion to
<br /> �his Deed �f Trust and take whafie�er a�her action is requested by Lender to per�ect and continue Lender`s lien on
<br /> the Real Praperty. Trus�ar shall reim�urse Lender fvr aIl taxes, as desGribed be[ow� tvgether v�ri�h all expenses
<br /> incurred in recordin�, per-�ecting o� continuing this Deed of Trus�, inc[ud;ng withaut ��mitation a!I taxesr fees,
<br /> documentary stamps,and o�h�r charges-�vr recvrdin�ar reg�stering this Deed of Trust.
<br /> Ta�ce�. The fo[[owing shall cons�i�ute t�xes to which this sec��on �pplies. ��� a spe�ific tax upon �his type o�
<br /> Deed of�rust or upon all or an� part of�h� �r�debtedness secured b��his Deed �f T�-�as�t; ��� a spe��fic �ax �n
<br /> T�-us�or wh€ch Trus�or is author�zed or required to deduct frarr� �a�rnen�s o�the [ndeb�tedr�ess secu�ed b��hi:s�yp�
<br /> o�Deed ��Trus�a �3� a ta�or��his�yp�o�C3eed v��rus�c�ar�eahle agains�the Lender or tF�e ho�d�r�f��he NQ�e�
<br /> and {4� a s�ecrfic�ax�n all �r any part�an o�t�e i�deb��drte�s �r o� paymen�s ��pr�ncipa[ and i���rest�ade ��
<br /> T�us�o r.
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