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<br /> . ��14���9�
<br /> DEED �F TRUST �
<br /> Lvan No: 35�D'I Q997 �C�rltinued� � � Pag� 3
<br /> Lender, deposit with Lender cash or a sufficient corporate surety b�nd or other security satis#actory to Lender in an
<br /> � amount sufficient to discharge the lien plus any costs and attarneys' fees, or other charges that�vu�d accrue as a
<br /> result of a foreclosure or sale under the lien, In any contest, Trust�r shall defend its�lf and Lender and shall satisfy
<br /> any ad�erse judgment betore enforcement against the Property. Trustor shall name Lender as an add'+tional obligee
<br /> under any surety bond furnished in the contest praceedings. � .
<br /> E�idence o#Payment. Trustvr shall upon d�mand furnish to Lender satisfactory e�idence of payment vf the taxes
<br /> or assessments and shall authorize the appropriate go�ernmentaF officiai to deli�er to Lender at any time a written
<br /> statement af the taxes and assessments against the Property.
<br /> Notice of C�nstruction. Trustor shall notify Lender at least fifteen �15� days hefor� any work is �ommenced, any
<br /> ser�i�es are furnished, ❑r any materials are supplied to the Property, if any mechanic's lien, materialmen's [i�n, or
<br /> other lien �ould be asserted vn accvunt of the work, ser�ices, or materials and the cost exceeds $5,04�.��.
<br /> Trustvr will upon request o� Lender furn�sh to Lender ad�ance assurances satisfactory to Lender that Trustor can
<br /> and wifl pay the cvst vf such impro�ements.
<br />� PR�PERTY DAIUTAGE�NSURANCE. The #oll�wing pro�isions relating tv insuring the Property are a par� vf this ❑Qed vf
<br /> - Trust.
<br /> � Maintenance of Insurance. T�ustar shal� prvcure and maintain policies of fire insurance with standard extended
<br /> co�erage endorsements an a replacement basis for the fuiE insurable �alue co�ering all Impra�ements an the Real
<br /> Property in an amount sufficient to a��id application of any cvinsurance clause, and with a standard mortgagee
<br /> cFause in fa�vr of Lender. Trustar shall alsa procure and maintain comprehensi�e general liability insurance in such
<br /> c��erage amvunts as Lender may request with Trustee and Lender being named as additional insureds �n such �
<br /> liabiltty insuranc� pvlicies. Additivnally, Trustor shall maintain such other insurance, in�luding but not limited to
<br /> hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies shall he written in
<br /> fo�m, amaunts, co�erages and basfs reasonably acceptabEe tv Lender and issued by a company or companies
<br /> reasonably acceptab�e to Lender. Trustor, upon request ❑f Lender, will de�i�er to Lender from time ta time the
<br /> polEcies vr certificatQs of insurance in form satisfactory to Lender, including stipulatians that co�erages wil� not be .
<br /> canc�lled or diminished without at least ten t 1 Qy days prior written natice ta L�nder. EaGh insurance poficy aisa
<br /> shal! include an endarsement pro�iding that co�erage in�a�or of Lender will not�e impaired in any way by any act,
<br /> omission vr default of Trustor �r any other person. Should the Real Pr�perty he located in an area designated �y
<br /> the Administratvr vt the Federal Emergency Management Agen�y as a special �Ioad hazard area, Trustvr agrees �o
<br /> obtain and mainta�n Federa! Flaad Insurance, if a�ailable, within 45 days a#ter notice is gi�en by Lender that the
<br /> Property is Iocated in a special flvod hazard area, far the ful� unpaid principal balance of the Ioan and any prior�iens
<br /> vn the prvperty securing the Ivan, up to the maximum policy limits set under the National Flood lnsurance Program,
<br /> � or as otherwise required by Lender, and to ma�ntain such �nsuran�e for the�erm of the loan. .
<br /> Applicativn af Pro�eeds. Trustor shall promptly notify Lender of any loss ❑r damage to the Property if the
<br /> . estimated cost of repair or replacement exceeds $5,�4�.�4. Lender may make pro�f ❑f loss if Trustvr �aifs to do
<br /> so within fifteen t 15y days of the casualty. Whether or not Lender's security is impaired, Lender may, at Lender's
<br /> election, recei�e and retain the prviceeds o� any insurance and apply the pr�ceeds to the �eduction of the
<br /> Indebtedness, payment of any lien affecting the Property, or the restoration and repair vf the Property. If Lender
<br /> elects to apply the proceeds t� restvration and repair, Trustar shall repair ar replace the damaged or destroyed
<br /> - Impro�ements in a manner satis�a�tory t� Lender. Lender shall, upon sat�sfactory proof af such expenditure, pay
<br /> or reimburse Trust�r from the prviceeds for the reasvnable cvs� of repair or restoration �f Trustar is not in default
<br /> under this ❑eed of Trust. Any proceeds which�ha�e not been disbursed within 18� days af�er their receipt and
<br /> � which Lender has not comm�tted t❑ the�repair or restorati�n of the Praperty shall be used first to pay any amount
<br /> owing t❑ Lender under this Deed of Trust, then to pay accrued Fnterest, and the remainder, if any, shall be applied
<br /> to the principal balance o# the indebtedness. If Lender holds any proceeds after payment in full of the
<br /> . Indehtedness, such pr�ceeds shall be paid to Trustor as Trustar's interests may appear. .
<br /> Trustor's Repor�t on Insurance. Upan r�quest af Lender, howe�er not mare than once a year, Trustor shall furnish
<br />' to Lender a repart on each existing pvlicy �of insurance shvwing: �1� the name vf the +nsurer; {�� the risks
<br /> insured; �3y the amount �f the policy; {4� the property insured, the then current replacement �a�ue �f such
<br /> property, and the manner of determining that�alue; and �5} the expiration date of the palicy. Trustor shall, upon
<br /> request of Lender, ha�e an independent appraiser satisfacto�y to Lender determine the cash �alue replacement cost
<br /> of the Prvperty.
<br /> LENDER'S E�PENDITURES. If any action vr proceeding is cammen�ed that would materia��y affect Lender's interest in
<br /> the Property or i� Trustor fails to comply with any pro�ision af this Deed of Trust ar any Refated Documents, including
<br /> but not iimited tv T�ustor's fai�ure to discharge or pay when due any amounts Trustor is required t� discharge or pay
<br /> � under this Deed o#Trust or any F�elated ❑ocuments, Lender on Trustor's behalf may �but shall not be �bligated ta� take
<br /> any action that Lender deems appropriate, including hut not iimited to discharging or paying all taxes, liens, security
<br /> inter�sts, encumbrances and vther claims, at any time le�ied or placed on the Property and paying all costs for insuring,
<br />� maintain�ng and preser�ing the Property. All such expenditures incurred ar paid by Lender for such purposes will then
<br /> �ear interest at the rate charged under the Nate from the date incurred �r paid by Lender to the date of repayment by �
<br /> Trus�or. Atl such expenses wii! become a part o# the lndebtedness and, at Lender's option, will �Ay be payable vn
<br /> demand; tBf be added t� the balan�e of the Note and be appartioned among and be payable with any installment �
<br /> payments t❑ become due during either �i} the term of any applicabl� insurance policy; or �2f the remaining #erm of
<br /> the Note; or �Cf be treated as a ballvon payment which will be due and payab�e at the Note's maturity. The�Deed �f
<br /> Trust als❑ will secure payment o� these amounts. 5u�h right shall be in additivn tv all ather rights and remedies to
<br /> which Lender may he entitled upon ❑efault.
<br /> WARRANTY; DEFENSE❑F TITLE. The follawing pro�isivns relating to vwnership of the Property are a part of this D�ed
<br /> of Trust:
<br /> Title. Trustor warrants that: �ay Trustor holds good and marketable title of record �v the Property in fee simpfe,
<br /> free and clear of all liens and encumbran�es ❑ther than those set fvrth in the Real Property description or in any �
<br /> title insurance pvlicy, tit�e report, or final title opin�on issued in fa�vr af, and accepted by, Lender in connection
<br /> with this Deed of Trust, and �b� Trustar has the full right, pawer, and authority ta execute and de�i�er this Deed of
<br /> Tr�ist#n LPnr�Pr. -
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