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� . ��15�11�3
<br /> �EEC� �F TF�UST
<br /> Loan No: 'I�'l 2�3��3 ���nt�nued} Page 4
<br /> hazard, business in�terruption, and 1aoi�er insurance, as Lender may r-easonably requ�re. Policies sha1� be written in
<br /> farm, amaunts, coWerages and hasis reasonably a�ceptable t❑ Lender and issued hy a company or campanies
<br /> reasonably ac�ep�able �o Lender. Trus�or, upon request ❑f Lender, will deli�er �o Lender fram time to time the
<br /> pa[icies or Gerti�Ficafies o�insuran�e in form satisfactory to Lender, in�luding s�ipu�ations thafi co�erages wF�i not b�
<br /> cancelled or diminished without at leas��ken t1�} days prior written no�i�e �❑ Lender. Each insurance palicy alsa
<br />; shai� include an endorsement pro�iding�ha�ca�erage in�avor o�Lender-wi�l nat he impaired in any way by any act,
<br />, omission ❑r defaul� of Trustor ❑r any o�ther persvn. Should the Real Prvperty be locat�d in an area designa�ed by
<br /> the Administ�a�tor af the Fed�ral Emergency Managemen�Agency as a special �fIood hazard area, Trustor agrees t❑
<br /> ohtain and maintain Fed�ral Fload Insurance, if a�ailable, �or the �Full unpaid principal balance o��he Ioan and any
<br /> prior liens �n the pr�perty securing �he Eoan, up fia �he maximum pvli�y limits se� under �he Nats�nal Flood
<br /> �nsurance Program, or as❑�herwise required hy Lender, and ta maintain su�h insu�-ance for the term�f�he loan.
<br />; Appl��at�on o�Prviceeds. Trus�ar shall prvmptly notify Lender of any loss ❑r damage t❑the Pr�per�y. Lender may
<br /> make proof o� loss if Trustor �Fails to do so with�n fifkeen ��5} days ❑f �he casualty. 1111hether or not Lender's
<br />; security is impaired, Lender may, at L�nder's elec�ian, rec�i�e and retain the proceeds of any insurance and apply
<br /> the prnceeds to the reduc�ion o�the �ndehtedness, payment ❑� any ��en afife��ing the Praperfiy, vr the res�vra�ivn
<br /> and repair ❑f the Property. �� Lender elects �o apply the praceeds �k❑ restora�ian and repair, Trus�or sha[I repair ar
<br /> �epla�e �he damaged or dest�oyed lmpra�ements in a manner satis�acfiory �o Lender. Lender shall, upon
<br />: satis�Fac�ory proo-� of such expenditure, pay or retmbc�rse Trustor from the prviceeds for the reasonable cos� of
<br />' repair ❑r restorafiivn if Trustor is nat En de�ault under th�s Deed ❑f Trust. Any proceeds which havs nat been
<br /> d�sbursed wi�hin 'i 8D days afker�he�r receip� and which Lender has n�t �ammi�ted fia �the repair ❑r restvratinn ❑fi
<br /> fihe P�-operty shall be used �irst-to pay any amoun�owing �o Lender under�his Deed of Trust, �hen �o pay accrued
<br /> in�erest, and �he remainder, if any, shall be app[E�d �o the principal balan�e o�th� lnde}�tedness. lt Lender- holds
<br />, any proceeds after paymen� in full vf �he Indeb�edness, such proc�eds shall be paid ta Trus�or as Trustor's
<br />� in�erests may appear.
<br /> Trustor's Report on Insurance. Upon reques�❑f Lender, hawe�er nvt more�han ❑nce a year, Trust�r shall fu�nish
<br /> tv Lender a repo�t vn each existing pvli�y o� insuran�e showing: ��� the nam� of �he insur�r; {2} the risks
<br /> insured; �3} �he amoun�k ❑� the po�icy; {4� �the praper�y insured, the then current replacement �afue vf such
<br /> prvperfiy, and th� manner❑�determining that�alue; and �5} �he expiratinn da�e ❑f�he policy. Trustor shall, upon
<br /> reques�a�Lender, ha�e an independent appraiser satis�actvey fio Lender�defierm€ne-the�ash�aiue replacement cvst
<br /> o�th� Praperty.
<br /> LENDER'S EXPENDiTURES. l� any acti�n vr proceeding is commenced that would materia�fy a��ecfi Lende�'s interes�in
<br /> �he Property or i�Trus�or faiis�❑ camply wi�h any prvWisivn of this ❑eed of Trust a�- any Related Da�uments, including
<br /> but nvt fimited �❑ Trustor's failure �❑ discharge or pay when due any amaun�s Trustor Es required �❑ discharge or pay
<br /> under�his Deed of Trus�ar any Rela�ed Documents, Lender an Trustor's hehal�may {but shall not be obliga�ed �a� take
<br /> any acfiion �hat Lender deems appr�priate, Enc[uding bu� nat limi�ed �to discharging ❑r paying al[ taxss, liens, security
<br /> in�eres�s, encumbran�es and other�laims, at any time le�ied or placed on the Prvperty and paying a11 costs for insuring,
<br /> main�aining and preser�ing the Property. All such �xpendi�ures incurred nr paid by Lender for such purposes wil� �hen
<br /> bear in�eresfi a��he �-ate �harged under fihe Nvte from the date incurred �r paid by Lender fia the date ❑f repaymen� by
<br /> Trustar. AI[ such expenses wil[ laecome a par� of the [ndeb��dness and, a� Lender's optian, wi11 �A� be payable an
<br /> demand; �B} be added �o the ba[ance of �he Note and be app�rtioned among and be payable wi�h any �nstallmen�
<br /> payments to become due during ei�her 4�} fihe�erm ofi any appli�able insurance policy; vr {�� the remaining term ofi
<br /> the N�te; or {C� be tr�ated as a balloon payment which will be due and payable a��the Note's ma�uri�ty. The Deed of
<br /> Trust a�sa w��i se�ure paymenfi ot these amounts. Such right shall be in additivn to al[ v�her rights and remedies t�
<br />: which Lend�r may he�ntitled upan De�au��k.
<br /> 1NARRANTY; DEFENSE�F TITLE. The faliowing pro�isians re�ating�o awnership❑f the Praperty are a par�a�this ❑eed
<br /> ❑f Trus�k:
<br /> Titte. Trusfivr warranfis fiha�: �a} Trusfior holds gavd and marketable titEe of recvrd tv the Property in �ee simple,
<br /> �ree and clear of all liens and encumbran�es o�her than �hose se� forth in the Real Property des�rip��on or in any
<br /> title insurance pvlicy; title report, or �inal �i�le opinion issued in fa�vr of, and ac�epted by, Lender in cannecfiion
<br /> with fihis Deed of Trust, and {h} Trus�or has th�-�ull righfi, p�wer, and authority fi❑ex�cufie and deli�e�-this ❑eed of
<br /> Trus�t t❑ Lender.
<br /> Defense vf Title. Subje�� to fihe excepti�n in the paragraph alaove, Trus�ar warran�s and wilE �are�er de�end the
<br />' �i��e to the P�aperty against�he lawfu[ �laims ❑fi all persvns. ln �he event any action or proceeding �s c�mmen�ed
<br /> that�uestivns Trusfivr's t'ttle ❑r the interest of Trust�e ❑r Lender under�his ❑eed of Trust, Trustor shall defend the
<br /> ac�ion a�Trustor's expense. Trustor may be the nominal party in such proceed�ng, bu� Lender sha�� be enti�led to
<br />� parfiicipa�e �n the proceeding and fio be represenfied in the pro�eeding by cvunsel o� Lender`s own �hvice, and
<br /> Trustor will deli�er, ar cause to be deli�ered, �k❑ Lender such instrumen�s as Lender may reques��rom time�o�kime
<br /> ta permit such parti�ipafiion,
<br /> Compliance V11��h Laws. Trustflr warranfis that the P�vperty and Trustvr's use ❑f the Prvperty camplies with all
<br />' existing applicabEe laws. fl�rdinances, and regula�kions of go�ernmen�al author�ties.
<br /> SurviWal of R�presenta�ions and V1larranfies. Al[ representations, warranties, and agreemen�s made hy Trustor in
<br /> �his Deed ❑�Trus�shall sur�ive�he executivn and deli�ery❑fi this Deed ❑t Trust, shall i�e continuing in na�ure, and
<br />. sha�1 remain in ful[force and��fec�unti!such�ime as Barrow�r's �ndeb�edness shall he paid in fu�k.
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