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' 201406488
<br /> '�� �3E'��� �F T�USI'
<br /> (Continued)' 'Page 3
<br /> the National Flaod InsuranCe Program, or as otherwise,requiretl by Lender, and to maintain sucM insurance for the
<br /> term of the loan.
<br /> Application of Proceeds. Trustor shali promptly notify �ender of any loss or damage tc�the Property. Lender may
<br /> make proof of loss if Trustor faiis to do ao within fif#een (15) days of the casualty. IWhether or noY Lender's
<br /> security is impaired, Lender may, at Lender's election, �eceiVe and retain the proceeds of any insurance and apply
<br /> the proceeds to the �eduction of the fndebtedness, payment of any lien affectin,g the property, or the restoration
<br /> and>repair of the Peoperty. If'Lender eleGts to','apply th'e praceeds to restoration'and repair,Trustor shall,'r�pair or
<br /> replace the 'damaged or destroyed ;fmprovements in a manner satisfactory ,to Lendec Lender shali, upon
<br /> satisfacfory proof of'such expenditure, pay o� reimburse Trustar from' the proceeds far the reasonable cost of
<br /> repair or resYora#ion 'if Trustor is not'in default under'this Deed of Trust, Any proceeds which ha�e not been
<br /> disbursed within 180'days after their``receipt and which l.ende� has not committed to the eepair'or rssto�ation of
<br /> the Property',shall be'used first to pay',any amount owing to Le�der under this Deed of Trust,then to pay'accrued'
<br /> interest, and``the remainder, if any, shall be applied to the principal balance of the Indebtedness' If Lender holds
<br /> any,proceeds after payment in full of the Irtdebtedness, such praceeds shall''be paid ta Trustor as Trustor's'
<br /> intecests may appear.'
<br /> Com,pliance with Existing Indebtedness. During the period in which any �xisting Indebtedness described'below is'
<br /> in effect, compliance with the insurance provisions contained in the instrument evidencirt,g such 'Existing'
<br /> Indebtedness shall constitute>�compliance with'the insurance provisipns under this C7eed af Trust, to the extent'
<br /> compliance wifh the terms of'this Deed of Trust would consfitute a duplication of insurance requirement. if any'
<br /> proceeds from the insurance becQme payable on loss, the provisions in Ithis Qeed of Trust for divisian of proceeds'
<br /> shall apply only to that portion of the proceeds not payable to the holder'of the Existi�g Indebtedness.
<br /> �ENDER'S EXP�NDITURES. If Trustor fails (A) ,' to keep the Property free of ail taxes,,liens, securiry interests,'
<br /> encumbrances, and other'claims, (B) to provitle any required insurance on the Property, (C) to make repairs to the'
<br /> Property',�r{o Comply witn any obligation to maintain E�asting Indebtecfness'in good''standing as r�quireti below, then'
<br /> Lender may do so. If any action or proceeding is''commenced that would'materially affect'Lender's interests in the'
<br /> Property,'then Lender on'Trustor's behalf may, but is not required to, take any aetican that Lender believes to be
<br /> appropriate to protect Lender's interests. ''All expenses incurred or,paid by, Lender tor such purposes will then bear
<br /> interest at the rate chargecf under the Note from'the date incurretl ar paid by Lendee to the date pf repayment by
<br /> Trustoc 'All sueh expenses will become a,par[of the Indebtedness and, at Lender's option,'wiil (A) be payable on'
<br /> demand; (B) be added to the balanoe of the Note and be apportioned among and be payable with any installment
<br /> payments to become due Iduring either (1} the term of any applicable insurance policy; pr (2) the rernaining term of'
<br /> the Note;'or (C) ,'be teeated as a bailoon payment which will be due and payable at the Note's maturity. The'Deetl af'
<br /> Trust also will secure payment of these amounts. The rights provfded for in this paragraph shall be in addition tc�any'
<br /> other rights or any remedies to which Lender may Ibe enti#led on account of any default, Any such action by Lender'
<br /> shali not be construed as curing the defauit"so as to``bar Lender from any remedy that'it atherwise would have had.
<br /> WARRANTY;DEFENSE OF TITLE. 7he following prouisions relating to ownership of the Property are a',part of this Deed'
<br /> of Trust: '
<br /> Title: 7rusfo�warrants that: '(a) Teustor holds good and marketable #itle of record to fihe F'roperty in fee simple,'
<br /> free and dear of all Jiens and'encumbrances o#her thzn fhose set forth in the Real Property description ar in the'
<br /> Existing Indebtedness'sectian'below oc in any title insurance ppliCy, 4itle,Irepart, or final tit►e opinion issued'in favor'
<br /> af, and accepted by,''Lender in connection with this Deeci of Trust, and, (bj 7rustor has the fuil �ight, power, and'
<br /> authority to execute and deliver this Deed of Trus#to Lender.
<br /> Defense of 7itle. Subject to ths exception in the paragraph above, Trustor warranrs and will fo�ever defend the'
<br /> title to the P€operty against the lawful'claims of all persons. In'#he event any action or proceeding is commenced'
<br /> that'questions Trustar's title or the interest of Trustee or Lender under this Deetl''of Trust';7rustor shall defend the'
<br /> action at Trustor's expe�se. Trustor may be the nominal par#y,in such proceeding, bu#Lender shall be entitled to''
<br /> partieipate in"the proceeding 'and to be represented in'the pro�eeding,'by counsel of Lender's �wn choiee, and'
<br /> Trusior will deliver, or cause ta be delivered,to Lender such instruments as Lender may request from time to time'
<br /> to permit such participation. ''
<br /> Compliance With Laws. Trustor warrants that the Property and Trustor's use of tne Property complies'with all'
<br /> existing appli�able laws,ordinances,artd regufations of governmental aufihoritiss.'�'�
<br /> Survival af Promises.' Alf promises, agreements, and statements l�rustor has made in'this Deed of Trust shall
<br /> survive the execution'and delivery of this Deed of Trusf; shall be continuing in nature and shali remain in full force'
<br /> antl effect until such time as T�ustor's indebtedness is paid in full.
<br /> EXISTING€�it�E6TEDN��S. The following provisio�s co�cerning Exis#ing lndebtedness are a part of this Deed of Trust: '
<br /> Existing Lien. The lien of this Deed of Trust'securing the Indebtedness may,be secondary and inferior to an'
<br /> existing lien. 'Trustar�;expressly co�enants and',agrees tp pay, or see to the paymeni of, the Existing Indebtedness'
<br /> and to prevent any defauit on such indebiedness, any defaulf under the instruments evidencing such indeatedness,'
<br /> or any default under a,ny security documents for such indebtedness.
<br /> No �"{odiEication. Trustor shail not enter into any agreement with the holder of'any mottgage, deed of trust, or'
<br /> other security agreement which has,'priority ,over this Deed 'of Trust by which that agreement is motlified,''
<br /> amendad, extended, or renewed without the priar written consent of Lender. Trustor shall neither request nor'
<br /> accept any future aduances under any such security agreement vuithout the prior written eonsent ofi Lendec:
<br /> G4NDE€�NATIdN. The following provisions relating to condemnation,'proceedings are a part of'this Deed of Trust:
<br /> Proceedings. If any ,proceeding in condemnation is fiJed, Trustor shall prcamptly notify Lender in writing, and'
<br /> Trustor shali pramptly take such steps'as may'be necessary to'defend the action and obtain the'award. '7rustar''
<br /> may,be the n4minal party in such proceeding, but Lender shall be entitled'tQ partiCipate in'the prooeeding and to be
<br /> represented in the proceeding,by counsel of its own choice, and Trustor wifl deliver or cause to be delivered to''
<br /> Lender such instruments antl documentation as may k>e requested by Lender from time to time ta permit such''
<br /> participatican. '
<br /> Application of Net Proceeds. If all car any part of the Praperty is'condemned by eminent domain proc:eedings ar by
<br /> any proceeding or purchase in Iieu of condemnation, Lender may at its election require that alI or any portion of the'
<br /> net proceeds of the award he'applied''ko the Indebtedness or the repair or restoraYion of the Property. The net
<br /> proceeds of the award shall mean the award aftet payment of all reasonable costs, expenses, and attorneys' fees'
<br /> incucred by Trustee or Lender in connecYion with the condemnation.
<br /> I�PQSITI�N OF TAXES, FEES AND CHARGES BY GOl/ERNMENTAL'AUTHORITIES. 'The foliowing provisions'relating '
<br /> to gav�rnmental taxes,fees antl charges are a part of this Deed of Trust:
<br /> Current Taxes, F�es and Charges. Upon request by Lender, Trustor shall execute such documents in addilion to
<br /> Yhis D�ed of Trust and take whatever other actfon is rec�uested by Lentle�to perfect and continue`Lender's lien an '
<br /> the Reaf Property. Trustor shall reimb'urse Lender for lall taxes'; as described below, together with a1I expenses
<br /> incurred in recording,'perfecting ar continuing this Deed of Trusf, including wlthout limitation'all taxes, feeS, '
<br /> documentary'stamps,and othe�charges for recording or'registering ihis Deed of Trust.
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