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��15��545
<br /> DEE� �F TRlJST
<br /> L�an No: 1�128�3�1� ���ntinu�d� Page 4
<br /> term af the f oan.
<br /> Applicat�on of Proceeds. Trustor shall promptly natifiy L�nder of any Iflss or damage �o the Prope�-ty. Lender may
<br /> mak� proof of fvss if Trustor fails �� dv so within fif�een ��5� days o� the �asualty. Vllhe�her or not Lender's
<br /> security is impaired, Lender may, a� Lender's elec�ion, receiv� and retain the prac��ds of any insurance and apply
<br /> the proceeds to th� reduc�ivn o�r the Indebtedness, paymen� nf any lien affec�ing �he Property, or the restvration
<br /> and repair of the Prop�rty. I� Lender elects tv apply the praceeds �o restoration and repair, Trustor shall r�pair�r
<br /> rep[ace the damaged ar dsstroy�d Impro�ements in a manner sa�is�act�ry to Lender. Lender shall, upon
<br /> satis�actory pro�f of such expenditure, pay or re�mburse Trustor from the pr�ceeds for �he reasonable cost �f
<br /> repair �r restvration i� Trust�r is not in default under this aeed of Trust. Any proceeds which ha�e nat been
<br /> d�sbursed within 1 g4 days after the�r r��eipt and which Lender has no�t �ammitted t� �he repair or resta�ation of
<br /> the Property shall be used first to pay any amoun� owing to Lende� under this D��d vf Trust, then to pay accrued
<br /> interes�, and the remainder, if any, shal� be applied ta the p�-incipal balan�e of �he Indebtedness. lf Lender holds
<br /> any prviceeds aft�r payment in fu�� o� the Indebtedness, such pro��eds shall be paid ta Trustor as Trustor's
<br /> infierests may appear.
<br /> LENDER'S ExPENDITURES, If Trustar fails {A} �❑ keep the Proper�y free of all �taxes, liens, s�curity interests,
<br /> encumbrances, and ❑ther claims, {B} ta pro�ride any requirsd insurance on the Property, or �C} to make repairs�o the
<br /> Property then Lende�- may da so, I� any action �r pro�e�ding is camm�nced that would materially affect Lender's
<br /> interes�s in the Pr�per�y, then Lender on Trustar's behalf may, buf is nat requ�red to, take any action �hat L�nder
<br /> be�i�v�s ta be appr�priate to pratecfi Lend�r's infierests. All �xpenses incurred or paid by Lender fior such purposes rnrifl
<br /> then b�ar interest at the rate charg�d under tha Nate from �he da�e incurred or paid by Lender f❑�the date of�epayment
<br /> by Trustor. AI� such expenses wil� become a part af�he Indebtedness and, at Lender's aption, will {A} be payabl� on
<br /> demand; ��� be added ta the balance o� the Nv�e and be apportioned amon� and I�e paya�le with any insta�lment
<br /> paymen�s t� become du� during either {�} �he term o�F any appli�abl� insurance po�icy; ar {�} the remaining term vf
<br /> the Note; or tC} b� treated as a ba�loon paymen� wh�ch will be due and payable at the Not�'s maturity. The ❑eed of
<br /> Trust also will secure payment af these amounts. The rights pr�Wided for in this paragraph shall be in add�tion tv any
<br /> �ther rights or any remedies tv which Lender may be en�i�led on ac�ount of any default. Any such actian by Lender
<br /> shall not be c�nstrued as �uring�he de�ault so as to bar Lender frvm any remedy that it o�herwise would have had.
<br /> WARRANTY; DEFENSE�F TITLE, The following prv�isivns relating tQ ownership of th� Property are a part of this Deed
<br /> of Trust:
<br /> Title. Trus�or warrants tha�: {a} Trustor holds go�d and markefiable t��le of recvrd �o the Property in f�e simple,
<br /> free and clear of all liens and encumhrances othe� than thos� set f�rth in �he Real Prap�rty d�scriptitin or in any
<br /> titie insurance policy, �itle report, or final title opinion issu�d in �avor o�, and accepted by, Lender En c�nn�ctivn
<br /> with this aeed �f Trust, and ��� Trustor has�th�ful� right, power, and authori�y ta execute and deli�er�his Deed of
<br /> Trus�to Lender.
<br /> Defense v� Tit�e. Subject to the excep�ion in th� paragraph aboWe, Trustor warrants and will �arever defend the
<br /> title �v the Pr�p�rty against the lawful �laims a� all persons. In the e��nt any action or proceeding is commenced
<br /> that questions Trus�tor's title vr the int�rest af Trustee vr Lendar under this Deed ��Trust, Trustor shall ciefend th�
<br /> ac�ion at Trustor's expense. Trustor may be the nomina! party in such pr�ceeding, but Lender shall be �ntitfed ta
<br /> participa�e in the proc�edin� and to be represented �n the praceeding kry counsel af Lend��'s own chvice, and
<br /> Trus�vr will del��er, vr cause to be desi��red, t� Lende� such instruments as Lender may request from �time t❑time
<br /> to permit such participa�ivn.
<br /> Complian�e V11i�h Laws, Trustor warrants that th� Property and Trustor's use �f the Property complies wi�h all
<br /> existinc�applicable laws, ordinanc�s, and regu�atian�of goWernmental authori�ie�.
<br /> Survival vf Promises. All promises, agreements, and statements Trusfi�r has made in this D�ed o� Trust shall
<br /> surWive the �xecution and c�el��ery of this Deed of Trust, shall be continuing in natur� and shall r�main in �ull forGe
<br /> and effect un�il such tirne as B�rr�wer's indebtedness is paid in�ul(.
<br /> ��NDEIVINATI�N. The following provisions relating to condemna�ion prace��ings are a part af this Deed afi Trust:
<br /> Proceedings. �f any pro�eeding in candemna�ion is fil�d, Trustor shall pramptly notify Lender in writing, and
<br /> Trustor shall promptly take such steps as may be necessary to defend �he action and abtain th� award. Trustar
<br /> may be the namina� party in such proceeding, bu� Lend�r shali be entitled�v par�icipate in the proCeeding an�ta be
<br /> represented in the proceeding by counsel of its own ch�ice, and Trustor w�ll deli�er tir cause tv be delivered �o
<br /> Lend�r such instruments and documentat�on as may be requested by Lende� fr�m �ime to time to perm�t such
<br /> participation.
<br /> Application vf N�� Pwoceeds, If a![ ar any par�k o�f th� Property is condemned by em�n�nt domain prace�dings or by
<br /> any proceeding ar purchase in lieu of candemna�ion, L�nder may at its election require that al�or any pvrtian o�the
<br /> net proceeds of �he award be applied tv th� Indebtedness ar �he repair or restoration of th� Proper�y. The net
<br /> proceeds of the award shali m�an the award after paym�nt ofi al� reasonable cos�s, �xpenses, and attarneys' f�es
<br /> incurred by Trus�ee or Lender in connection with�he condemnation.
<br /> IMP�SITl�N ❑F TA?CES. FEES AN� CHARGES BY �QVERNMEiVTAL AUTHaR1TIES. The �ollowing pro�isions rela�ing
<br /> to go�ernmental taxes, fees and charges are a part af�this Deed of Trust:
<br /> �urren� Taxes, Fees and Charges. tJpvn request by Lend�r, Trustor shall execute such docum�nts in addi�ion to
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