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<br /> aEED �F T�RUST
<br /> Loan Nv: '1�����5�3 ���nt�nu�d} Page 4
<br /> policies or certifica�kes ❑f insurance in �orm satis�aGtary �o Lender, including stipu�a�ians�hat co�erages will no�I�e
<br /> cancell�d or dimin�shed withau� a� least ten �'��} days p�-��r writ�en nofii�e fi❑ Lender. Ea�h �nsurance policy als❑
<br /> shall include an endvrsemen�pra�iding that caverage in fa�or��Lender wi�I nat be impaired in any way by any ac�,
<br /> omissian ❑r default�f Trustar a�- any vther p�rson. Shauld �he Real Property be laca�ed in an area designa�ed by
<br /> the Administra�ar o�fihe�Federal Emergency Management Agen�y as a speciaf��ood hazard area, Trustvr agrees�a
<br /> ob�ain and maintain Federal Flvvd Insurance, if a�ailable, r�vi�hin 45 days afker no�ice is given by Lender�ha� the
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<br /> Property is �acated in a special f�aod hazard area,��r�he�ull unpaid principal halance a�the �oan and any priar liens
<br />� on�he property securing the Ioan, up t❑�he maximum policy limits set under fihe Nafiiona[ Flvad lnsurance Prvgram,
<br /> or as otherwise requir�d �ay Lender, and�o maintain such insurance�or the term o�fihe Ivan.
<br />. Application vf Pro�eeds. Trusfior shall pramp�ly no�ify Lender a� any lass vr damage to the Prvperty. Lender may
<br /> make proo�f of l�ss if Trustor fails t� do so within �ifteen ��5� days ❑f the casualty. Whether ❑r not Lender's
<br /> securi�y is impaired, Lender may, at Lender's ele�tion, recei�e and re�ain �he praceeds of any insurance and apply
<br />� the prviceeds �o the reduction ❑fi fihe lndebtedness, payment ❑� any lien a�tectin� the Prvperty, o�-fihe res�ara�ion
<br /> and repair of�he Prope�ty. lf Lender elec�s t❑ apply the proceeds �o restoratian and repair, Trustor shall repair or
<br /> replace the damaged o� destrayed lmpro�ements in a manner sa�isfactory �o Lender. Lender shall, upon
<br />. satisfa�tvey proo� vfi such expenditure, pay or reimburse Trus�vr �Frvm �he prviceeds �Fvr the reasflnable cast ❑f
<br /> repa�r or restora�ion if Trus�ar is r�ot in de�ault under this Deed of Trus�. Any proceeds which ha�e not been
<br /> disbu�sed wi�hin `�8Q days afiter their receip� and which Lender has not cvmmitted t❑ the repair or restoratian �f
<br /> the Praper�y shall �e used firs�to pay any amoun��wing�❑ Lender under this ❑eed of Trus�, �then �a pay ac�rued
<br /> interesfi, and �he remainder, i�f any, shall be applied �o the p�inc�pa� balance ❑f�he Indebtedness. lf Lender ho�ds
<br /> any proceeds af�er payment in �ul� of the Indeb�edness, such pr�ceeds shail be paid to Trus�or as Trus�or's
<br /> in�erests may appear.
<br /> Trustvr's Report on Insuran�e. Upon reques�of Lender, how��er not more than once a year, Trustor shaf[ �furnish
<br />� �o Lender a report on each existing palicy o� insurance showing: �'i} the name of the insurer; {�� �he risks
<br />; insured; �3} �he amount of �he poliGy; �4� �he praper�y insured, the then current replacement value af such
<br /> property, and the manner of de�ermining that�alue; and {5� �he expira�ian date o�F�he policy. Trustor shall, upan
<br /> request v�Lender, ha�e an independent appraiser satis�actory tv Lender determine the cash�alue replacement�vst
<br /> of the Property.
<br />� LEN�]ER'S E�PENDETURES. lf any a��tion or praceeding is cammenced that would mate�ially affect Lender's interest in
<br /> the Prvperty ❑r i�Trus�vr�ai�s�a comp�y wi�h any proWision ❑f th�s Deed o�Trust or any Related ❑o�umen�s, inc�uding
<br /> but not limited to Trus�or's failure to d�scharge ❑r pay when du� any amoun�s Trus�or is required to discharge or pay
<br /> under�his Deed vf Trust or any Related Do�uments, Lender on Trustor's beha��may {�ufi shall not be obli�afied ta} fiake
<br /> any actEon �hat Lender d�ems appr�priate, including but no� fimi�ed to discharging �r paying all taxes, liens, securi�y
<br /> interesfis, encumhrances and athe�r claims, a�any time le�ied or pfaced vn the Prvperty and paying all cvs�ts�ar insuring,
<br /> main�aining and preserving �he Property. A�f su�h expendifiures incurred ar paid.by Lender�or such pu�rposes wil[�then
<br /> bear interest at�he rate charged under the No�e frvm the date incurred or paid 1ay Lender to�he date o� repaymen� hy
<br /> Trus�or. AI! such expenses wif I laecome a par� ❑��he Sndebtedn�ss and,.a� Lender'.s vp�ian, will {A} be �ayabfe on
<br /> demand; {6} be added to �he balan�e vt �he No�e and }�e app�rtianed among and be payable with any ins�allmen�
<br /> paymenfis fio �ecvme due during either {'�} the term of any appiicable fnsurance pvlicy; ❑r {�} �he rema�nin� fierm ofi
<br /> the Note; ❑r {C} b� trea�ed as a ballvon payment which will 1ae due and payab[e a�the No�e's maturi�y. The I�eed of
<br /> Trust als❑ wil� secure paymen� ❑f these amoun�s. 5u�h right sha�i be in addi�ian to afl vther rights and remedies ta
<br /> which Lender may be enti�led upon Default.
<br /> 1lVARRANTY; DEFENSE�F TITLE. The tollvwing pro�isions relating ta ownership of�he Proper�y are�a par�o�this Deed
<br /> o�Trust:
<br /> Tit[e. Trus�or warrants tha�: �a} Trustor holds g�od and marke�able ti�ie of re�ord �o the Praperty in �ee simple,
<br /> �ree and clear o� all liens and en�umbrances other than �hose set forth in the Real Prvperty descripttvn ❑r in any
<br /> �it�e insurance poltcy, �i�le repflrt, ❑r �inal tit[e ❑pinion I55L]�CI in fa�ar afr and accep�ed by, Lender in connection
<br />; with�his Deed vf Trust, and �b}Trustor has�he full right, power, and authar��y t� execu�e and deli�er this ❑eed �f
<br /> T�-ust to Lender. �
<br /> Defens� vf Ti�ie. Sula�ect�to �he excep�ion in �he pa�-agraph abo�e, Trust�r war-�an�s and will �vrever de�end �he
<br /> title to�he Prvperty against the �awful claims o� all persons. �n �he e�ent any action ❑r prv�eeding is commenced
<br />' tha�questians Trustor's�i�le❑r�he interesfi❑f Trustee ar Lender under this ❑eed of Trus�,Trustor shatE defend�he
<br /> action afi Trustor's expens�. Trus�tor may be the nomina� par�y in such p�oc��ding, bu� Lender sha�� be entit�ed ta
<br /> park��ipa�e in the proceeding and to be represented in the proceeding by caunsel of Lender's ❑wn chai�e, and
<br /> Trustor will deli�er, ❑r cause to be deii�ered, to Lender such �nstruments as Lender may request�rom time�o�ime
<br /> tv permi�such par-ticipation.
<br /> Campliance V11�th Laws. Trustor warrants �hat �he Property and Trustar's use af the Prvperty complies with afE .
<br /> exis�ing applica�[e laws, ordinances, and regufations�f go�ernmental authorities.
<br /> Surviva� of Representa�ions and 1Na�ranties. All representativns, warran�ies, and agreements made by Trustar in
<br /> this aeed ❑�Trust shall sur�i�e the execution and deli�e�-y���his Deed ❑�Trus�, shall be cvn�inuing in nature. and
<br /> shali remain in�ulf for�e and ef�ec�un�il such�ime as Bvrrvwer's lndeb�edness shall be paid in full.
<br />: C�NDE�JINATl�N. The fol�owing pro�isions re�ating to ��ndemna�ion prviceedings are a part ofi�his•Deed of Trusfi:
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