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��14�793�
<br /> �EE�] �F `�RU�T
<br /> Laan No: 7 D 128 7 7�7 ��ontinued� g
<br /> Pa e 4
<br /> and repair af�he Prop�rty. If Lender elects tv apply�h� proceeds �o restoratian and� repair, Trustor shall repair ar
<br /> repla�e the damaged or des�rayed ImproWements in a manner satisfac�ory �a Lender. L�nder shall, upon
<br /> safiisfacfiory proof of such expendi�ure, pay or reimburse Trustor fram the proceeds for the reasonabEe cost of
<br /> repair �r r�s�oration �f Trustor is not in default under �this Deed of Trus�. Any pra�eeds whi�h hav� n�t be�n
<br /> disbursed within 18� days aft�r th�ir receipf and which Lender has no� committed to the r�pair or restorati�n of
<br /> the Pr�perty sha11 be used �Firs#ta pay any amaun� owing t� Len�ler under th�s Deed a�Trus�, th�n to pay a�crued
<br /> interest, and the remainder, if any, shall be applied to the �arincipal ba�anc� o�F the lnde��edness. �f L�nder holds
<br /> any proce�ds after payment in ful� afi the Ind�b�edn�ss, such proGe�ds shafl be paid to Trustor as T�ustor's
<br /> int�rests may appear.
<br /> �omplian�e wrth Existing Indebfedness. auring th� peri�d in whi�h any Exis�ing Indebtedness described b�low is
<br /> �n effect, complian�e wi�h the insuran�e prv�isivns contained in the instrument e�idencing such Existing
<br /> Indebtedness shali constitute compliance with the insuranc� pro�isions under �his Deed n� Trus�t, �o the extent
<br /> c�mp�ianc� with the terms of this Deed �f Trust would constitute a dupli�ation of insuran�e requi�ement. lf any
<br /> p�oceeds from the insurance becvm� payable an fQss, the pro�isivns in this Deed o�F Trust for division afi praceeds
<br /> shall apply only to that portion��F the proc�eds not payable t��he ho�der Qf the Ex�sting Indebtedness.
<br /> Trustor's Repor�on Insuran�e. Upon request of Lender� howe�er not more �han vnce a year, Trustor shal� �Furnish
<br /> t❑ Lender a r�pvrt on ea�h existing pvlicy o� insurance sh�win�; �1� the name of the insurer; {�y the risks
<br /> i�sured; �3� �th� amount of the policy, t4� the prvp��ty insur�d, the then �urrent replacement �alue of such
<br /> praperty, and the manner vf de�ermining �hat Wa�ue; and �5} the expiration date o#th� policy. Trustor shall, upan
<br /> request of Lend�r, ha�e an independent appraiser satisfactory ta Lender d�termine�he cash�alue replacement cost
<br /> of�h�Property.
<br /> LENDER'S EXPENDITURES. lf any acfiion or proceeding is commenced that would materia�ly af�ect Lender's �nterest in
<br /> the Property or�if Trust�r fails to camply with any prv�ision af this Deed af Trust or any Related Documents, including
<br /> but not limifed tv T�ust�r's failure �to comply with any obligation �to maintain Existing Indebtedness in good standing as
<br /> required belflw, or to dis�harge vr pay when due any amounts Trust�r is required to discharge or pay unde�this Deed o�f
<br /> Trust or any Related Documents, L�nder on Trustar's behalf may {but shall not be obligated ta� take any action that .
<br /> Lender deems appr�priate, including bu� not limited to discharg�n� ❑r paying a�l taxes, li�ns, securi�y interests,
<br /> encumbrances and other claims, at any time le�ied or placed on the �raperty and paying al� costs fivr insuring,
<br /> maintaining and pres�r�fng �he Property. All such expendi�ur�s incurred or paid by L�nder f�r such purpQses will �hen
<br /> bear in�erest at th� rate �harged unde� the Nate �rom �he da�e incurred or paid by Lender to the date of repayment by
<br /> Trust�r. All such expenses will become a part ofi �he Indeb�edness and, at L�nder's opti�n, wEll {A� b� paya�le vn
<br /> demand; (B� be added ta the balance of the Nvt� and b� apportioned amnng and be payable with any installm�nt
<br /> payments �to become due during either �1} the term v� any applicable insuran�e pvl���; or �2} the rsmaining term o�
<br /> the Note; �r �Cy be �reated as a balloon payment which will b� due and paya�le afi the Note's ma�urity. The Deed vf
<br /> Trust also will secure payment of �khese amaun�ts. Such righ� shall be in additi�n to all vther rights and remedies tn
<br /> which Lender may be entitled up�n De�ault.
<br /> VIIARR�►NTY: DEFENSE�F TITLE. The following provisians relating ta ❑wnership of the Property ar�a part��f�his Deed
<br /> of Trust:
<br /> Ti�le. Trustar warra�nts that: �a} TrustQr holds gaod and marketable titl� o�F record tfl the Proper�y in fee simpl�,
<br /> free and �lear of all liens and encumbrances athe� �han thase se� forth i� �he Real Property descriptian ar in the
<br /> Ex���ing Ind�btedness section below or in any title insurance palicy, title report, or f�nal ti�le apinian issued in favor
<br /> af, and acc�p��d by, Lender in connec�ian WI�FI �h15 ❑eed of Trust, and �by Trustor has the full righ�, pvwer, and
<br /> authority to exe�ufie and deliv�r this Deed af Trust tv Lender.
<br /> �efense of Title. 5ubjec� to �che exception in the paragraph a�oWe, Trustar warrants and wifl forever defend the
<br /> titl� ta the Proper�y agains�th� lawful claims af a!I persons. In the event any action �r pra�eeding is commenced
<br /> that ques�iQns Trustor's t�tl�o�the in�erest�f Trustee or L�nder under this ❑eed �f Trus�, Trus�vr shall defend the
<br /> ac�tion at Trustar's expense. Trustor may he the nominal par�y in such prviceeding, but Lende�sha11 be en�itled to
<br /> par�icipate in the proce�din� and to be represented in the p�-oceeding hy counsel af Lender's own choice, and
<br /> Trustar will deii�er, �r cause to be delivered, to L�nder such ins�ruments as L�nder may request fr�m fiime to time
<br /> tv permit such participatian.
<br /> Compliance Vllith Laws. Trustor warrants that the Property and Trustor's use o'F �he Prop�rty cvmplies ►►vith all
<br /> existing appli�able laws, vrdinances, and regulatEans af go�ernmenta!autk�ariti�s.
<br /> Survival v� Represenfiatians and V1larranties. AI! representations, warranties. and agre�ments made �y Trustor in
<br /> this Deed vf Trust shall sur�iWe�he executi�n and deli�ery af this Deed of Trust, shall �e cvntinuing in nature, and
<br /> shafiE remain in#ull force and effect un�il such time as Trustor's lndeb�edn�ss shall be paid in full.
<br /> EiC15TiNG dNQEBTEDNE55. The f�llawing pr��isions cancern�ng E�isting Ind�bfiedness are a part of this Deed of Trust:
<br /> Existing L�en. The fien af this Dee� vf Trust securing the Indebtedness may be secondary and in�erior t� an
<br /> existing li�n. Trustor express[y co�enants an�l agrees to pay, or s�e to th� paymen� of, the Existing Indebtedness
<br /> and to preven�any default on such indebtedness, any de#auit under the instrumen�s evidencing such indebtedness,
<br /> �r any default under any security documents for such ind�btedness.
<br /> Na Mo�i#icativn. Trustor shall nat enter into any agr�ement wi�h fhe holder af any mortgage, deed of trust, ❑r
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