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��14�79�4
<br /> L]EE� �F 1'RU�T
<br /> Lv�n No: �7���'i 7�� ��[��tt�I�u�C�� Pag� 3
<br /> result of a forec�vsure o�sa�e under the lien. In any�ontest,Trustor shall de�end itself and Lender and sha�l sa�isfy
<br /> any adverse judgment befvre enforcement against the Property, Trustor sha�{name Lender as an addition.al vblige�
<br /> under any surety bond�urnished i_n the con�est proceedings.
<br /> Ev;clen�e of Payanent. Trustor sha�l upvn demand �urnish tv Lender satisfactory evidence of payment o�the�axes
<br /> or assessmen�s and shaI[ authQrize the appropr�ate �o�ernmental offE�ia! to deliver�v Lende� at any time a written
<br /> statement vf�he fiaxes and assessments against�he Property.
<br /> iVo�ice of�vnst�u�#�vn� Trustor s.hail noti�y Lender at�east�ift�en �15} days before any worl� is cammenced, any
<br /> services are�urnished, �r any rrraterials are supplied to�he Prvperty, if any mechanio's Iien, ma�erialmen's Iien, vr
<br /> other ��en cou[d be asserted on accoun� o��he wvrk� ser�iCes, or materials. Trustor will upon request vf Lende�
<br /> #urnish to Lender advance assurances satis�Factory tQ Lender thafi Trustor can and wili pay the cost o�F such
<br /> impro�ements.
<br /> PR�PERTY DAMAGE 1NS�IRAN�E. The�olIawing pro�isians re�at[ng to insuring th� Property a.re a part vf this Deed ot
<br /> Trust,
<br /> Nla�ntenance of lnsu�an�e. Trustor shalE pro�ure and rna�ntain po��cies o� fire insurance with standard extended
<br /> �v�erag� endorsernents on a replacemen� basis fvr the full insurable�alue co�eri,ng aEl imprv�e.ments an the Real
<br /> Property in an amoun� su�fficient to avoid application of any coinsurance clause, and with a standard mortgagee
<br /> c[ause En favvr vf Lender,toge�her with such other hazard and liahility insuranc�as Lender may reasvnably re�uire.
<br /> Pvlici�s shall be w�-itten in �orm, amvun�s, couerages and basis reasonably accep�abl� tv Lender and issu�d by a
<br /> cvmpany vr cvmpanies reasonably acGeptable tv Lender. Trustor, upon request o� Lender, will deli�er to Lender
<br /> . from time to time the pvlicies or certifica�es of insurane� in fiorm satisfactvey to L.ender, includ�ng stipuIations that
<br /> cv�erages wiI1 no� be �anceiied ar diminished without at least�en ���} dlays �riar writrten notice to Lender. Each
<br /> insurance poli�y also shall include an endorsemen� providing that coverage in fa�or of Lender will nat be impaired
<br /> in any way by any act, omission or de�ault of Trustor or any o�her person. 5hou[d t�e F�eai Proper�y be [oca�ed in
<br /> an area designated by�he Adm�nistrator v�th.e Federa! Emergency Managemen�Ag�ncy as a speeial �lood hazard
<br /> area. Trustvr agrees to ob�ain and maintain Federa� Flv�d Insurance, if a�ailable, for �he full unpaid principal
<br /> ba�ance of the Ioan and any prior liens on the properry securing th� �oan, up to the maximum pa�icy�im��s set under
<br /> tne Nationai Flvod lnsurance Program, v� as otherwise required by Lend�r, and to maintain such insurance far the
<br /> te�m of the Ivan.
<br /> App�ication af Pra�eeds.. Trustor shall p�omp��y natify Lende�r of any Ivss or�amag�to the Prvperty. Lender may
<br /> make prv�� v� loss if Tru�tar fails to dv so within fifteen {15� days of �he casual�y. 1f11hether or not Lender's
<br /> security is impaired, Lender may. at Lender's�l�c�tion, recei�e and re�a�n fihe proceeds a�any insurance and apply
<br /> the proceeds tv the reduc�fon o�F�he Indebtedness, payment o� any lien af��ct�ng the Property, or �the rest�ration
<br /> and r�pair vf the Property. If Lender ele�ts �v apply the prvGeeds�o restor�tivn and repair. Trustor shaf[ repair or
<br /> rep�ace �he damaged or destrvyed Imprv�ements in a manner satis�actory to Lender. Lender shall, upon
<br /> satisfac�vry proo� of such expenditu�-e, pay or reimburse Trus�or �from the proceeds for the r�asonable cost of
<br /> repair ar res�vratian if Trustor is not in default under this Deed o� Trust. Any proceeds which ha�e not been
<br /> dEs,bursed within 'I8� days after their receipt and which Lender has nvt eommitted to th� repair or restarat�vn of
<br /> the Prvperty shall be used �irst to pay any amoun�owing to Lende� under this fleed of Trust, then to pay accrued
<br /> interest. and the remaind�r. i� any. sha!! be applied to th� principal ba[ance af�he indebtedness. !� Lender holds
<br /> any proceeds after payment in fult af the Ind�btedness, such pro�eeds shali be paid to Trustor as Trustor's
<br /> int�res.ts may appear.
<br /> LENDEIR'S EXPEN�tTUF�ES. If Trustor �ails �A� to keep the Prvperry �ree of a11 taxesT liens, secu'rity in�terests,
<br /> encumbranc�s. and �ther claims, �B} to p�-o��de any r�quired insurance on the Prvperty, or �C} ta make r�pairs to the
<br /> Prop�rty then Lender may do sa. [� any action or proceed�ng i5 commenced that would materially a�fect Lender's
<br /> interests in �he Property, then Lender on Trustor's behalf may, but is not required to, take any action that Lender
<br /> b�lieves to be apprapria�e to protect Lender's �nterests. AI1 expenses in�urred or paid by Lender for such purposes wi�l
<br /> then bear interest at the �ate charged under the Nvte�rom the date incurred or paid by Lend�r tv�he date of repayment
<br /> by Trus�or. AlI such expenses wiil bec�me a part ofi the Indebtedness and, a�t Lender's option; wi!! �A� be payab��on
<br /> demand; �B} b� added to the baiance o�F the Note and he appor�ioned am.ong and be payable with any ins�tallment
<br /> payments tv f�ecome due during either ��} the term o�any appli�able insurance policy; vr ��} the remaining terrn of
<br /> the Nv�e; vr �C} be treated as a balloan paymen�wh�ch wiEl be due and payab[e a�t th� Nvte`s maturity. The Deed of
<br /> Trust a�so wiI[ secu�e payment of these amounts. The righ�s pra�ided �or in this paragraph sha[[ be in additi�n ta any
<br /> other rights ❑r any remedies to wh�ch Lender may t�e entitfed on account of any default. Any such action by Lender
<br /> shali not t�e cvnstrued as curing th�default sv as to bar Lender from any remedy that it vtherwise v+rould ha�e had.
<br /> 1JVAF�RANTY: DE�IEN�E�F TITLE, The following provis�ons reIatin�fiv ownership of the Property are a part of this Deed
<br /> of Trust:
<br /> �it�e. Trustor ►nrarrants that: {a� Trustvr hv�ds goad�and marketable �i�le of record to the Prop�rty in �ee simpCe,
<br /> free and ciear of ail liens and encum[�ranGes other than fhose set forth i,n �he Real iProperty description or in any
<br /> t�tle insurance po�icy, title report, or. final titl� opinion issued in fa�or of, and accepted by, Lender in Gonnection
<br /> with this �eed of Trust, and {b� Trustor has�he�uli right, pow�r, and authvrity t�execute and deliver this Deed v�F
<br /> Trust to Lender.
<br /> Defense of�itl�. Sub�e�t to the e�€ceptivn in the paragraph abo�e. Trus�or warrants and will fare�er defend the
<br /> title to the Properry against the lawfu! claims v�aIl persvns. ln the e�ent any ac�ion or proceeding is commenced
<br /> that questions Trusfior's title or the interest of Trustee or Lend�r under this Deed vf Trust,Trustor shall defend the
<br /> action at Trustvr`s expense. Trustor may be the nornir�al party in such p�-viceeding, but Lender shall E�e �ntitied to
<br /> participate in the prviceed�ng and to b� represented in the prviceeding by counsel vf Lender's awn choice, and
<br /> Trusrtvr wi�l deli�er. or cause�o f�e de�i�ered. to Lender such ins�ruments as Lender rr�ay request�rom time to time
<br /> to permit such partEcipation.
<br /> Cvmpliance With Laws. Trustvr warrants tha� the Property and Trustor's use of �he Prvperty cvmplies with all
<br /> �xis��ng appliGable laws, ordinances, and regula�ions vf governmen�a[au�horities.
<br /> Surviva[ of Pror�ises. Ail prvmis�s, agreements, and statements Trustor has made in this Deed ❑f T�ust shall
<br /> sur�ive the execution and defivery o�this D��d of Trust�sh�il he c�ntinuing i-n nature and sh�ll remain in full force
<br /> and e�ect unti�such time as Bvrrov+rerTs �ndeb�edness is paid in fu[[.
<br /> GflNDE�IIlN►�TtD�ll. The fo[�owing pravis�ons rela�ing to cvndemnat�on proceedings are a par�o'�this Deed of Trus�:
<br /> Procee�in�s. lf any prc�ce�ding in cond�mnation is �i[ed, Trus�or shal� promp�ly notify Lender in writing, and
<br /> Trustor shalI prampt�y take such steps as may b� necessary to defend the action and obtain the arrva�d. Trus�or
<br /> may be�he nvminal party in su�h proceedingr but Lender shal� be entitled to p�rtieipa�te in the proceeding and to be
<br /> represen�ed in the prviceeding by �ounsel o�f its own choice� and Trustor will deli�er or cause to be deli�ered �v
<br /> Lender such ins�ruments and documentation as may b� requested by Lender frvm time to time to permi� such.
<br /> parti�ipation.
<br /> Ap�lic�tivra of Ne�Prace�ds, I�F al! or any part o��he Property is condemned by eminent domain proceedings or by
<br /> any proceeding or purchas�in lieu af condemnation. Lender may at its e[ection require that a!I or any portivn vf the.
<br /> net proce�ds of the award be app[ied tv the lndebfiedness or the repair or restoration of the Prvperty. The ne�t
<br /> prviceeds of�he award sha[I mean the award a�ter payrnen�t o�all reasanabfe costs, expenses, and at�orneys' -Fees
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