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��15�1144
<br /> C3EED �F TRUST
<br /> Lvan Nv: '�D'i 2535�3 ���nt�nued� Page 4
<br /> se�u�-ifiy is �mpaired, Lender may, at Lender's elec�ion, recei�e and re�a�n �he prviceeds at any insurance and apply
<br /> the proceeds to the reduction of�he lndebtedness, payment ❑� any lien af�ec�ing the Praperty, or the res�oration
<br /> and repair o��he Prap�rty. i� Lender elec�s to app�y fihe proceeds t❑ restora�ion and repair, Trusfior sha�I repair or
<br /> replace the damaged vr destroyed lmpra�ements in a manner satisfactary ta Lender. Lender shall, upon
<br /> sa�isfac�ory proof �f such expenditure, pay or reimburse Trustor from �he praceeds �for �he reasonable cast a�
<br /> repair or resfiara�ian if Trustor is not in default und�r �h�s Deed ❑� Trust. Any pro�eeds which ha�e no� been
<br /> disbursed within 'I8D days after �heir re�eipfi and whiGh Lender has not cammitted t❑ �he repair �r res�ora�k�on of
<br /> �he Prop�rfiy shall be used -�irs�t to pay any amoun� ❑wing ta Lender under this Deed of Trus�, then �to pay accrued
<br /> interest, and �he remainder, if any, shall he applied �o �he principal ba�ance o��he lndebtedness. I� Lender holds
<br /> any proceeds af�er paymen� in fu�I ❑f the Indebtedness, such prv�e�ds shall be paid ta Trusfor as Trustar's
<br /> in�erests may appear.
<br /> Compliance with Exis�ing �ndehtedness. During �he periad in which any Exis�ing Indebtedness described be[ow �s
<br /> in effeGt, �ompliance v+�ith the insurance pro�isivns contained in �he instrument eviden�ing such Exisfiing
<br /> Inde�tedness shall constFtute compliance with the insuran�e prv�isians under �his ❑eed of Trust, �v the ex�tent
<br />' campliance wi�h �he �erms D�fihl5 Deed af Trust would cans�itu�e a duplication o� insurance requirem�n�. I� any
<br />' proceeds fram the jnsurance bec�me payable an lass, the pro�isions in this ❑eed of Trus��or di��sion v� prv�eeds
<br /> shall apply anly�❑that portion of the proceeds n��payahle�❑the holder❑��he Exis�ing Indeb�edness.
<br />� LEN�7ER'S E�CPEN��TURES. l�f Trustor fails {A} to �eep �he Proper�y f�ee ❑f all taxes, I�ens, security interests,
<br /> encumbrances, and other claims, �B} to provide any required insurance on the Property, �Cy to make repairs �❑ �he
<br /> Property or to camply wi�h any ❑bliga�tion �a ma�ntain Exis�ing lndeb�edness in gvvd s�anding as required be�ow, �hen
<br /> Lender may d❑ sv. ��F any action vr prviceeding �s commenced �ha� would materially a�ffe��t Lender's in�erests in �he
<br /> Praperty, then Lender ❑n Trus�kor's beha�� may, but is nat required ta, �ake any a�tian fihat Lender belie�es t� be
<br /> appropriate fiv prv�ect Lender's in�erests. All expenses in�urred or paid by Lender �or such purpases wij� �then bear
<br /> in�erest at the ra�e charged under the Nate from �he date incurred ❑r paid by Lender ta the date a� repaymen� by
<br /> Trustor. All such expenses wiI� hecvme a part ❑f fihe Indebtedness and, at Lender's opfiion, wi�� �A} be payable an
<br /> demand; �B� be added to �khe balance of �he Nate and �e apportioned among and be payable w�th any installment
<br />� paymen'�s to became due during ei�her {1} the term of an� app�i�able insurance policy; or �2} �he remaining term o-�
<br /> �he Note; o� {C� be trea�ed as a ba�io�n payment which will be due and payable at the Nvte`s maturity. The I�eed nf
<br /> Trust alsa will secure paymen�o�these amaun�s. The rights pro�ided far in this paragraph shai� be in addi�ion ta any
<br /> other righ�s or any remedies �� which Lender may he en�itled vn accaunt ❑fi any detault. Any such a��ion by Lender
<br /> shall nat be cons�rued as curing the defaulfi sv as�❑ bar Lende�-fram any remedy tha�i�ofiherwise wvuld ha�e had.
<br />� 11VARRANTY; DEFENSE�F T[TLE. The�ollowing pro�€sions rela�ing to ❑wnership a��the Praper�ty ar�a par�❑f this Deed
<br /> of Trus�: ,
<br />, Title. Trustvr warrants tha�: �a} Trustar holds gaod and marketable ti�le af reGo�-d ta the Property in fee simple,
<br /> �ree and c�ear af al� �iens and encumbrances a�her �han those set �orth in �he Rea[ Prop�rty descrip�ion or in the
<br />' Exis�ing lndebtedness section below vr in any title insuran�e pvlicy, ti�le repvrt, vr�inal�ifile apinion issued in fia�or
<br /> o-�, and accept�d by, Lender in connsc�ion wi�h this Deed af Trus�, and �b} Trus�ar has �he full right, power; and
<br />� authari�y�o execute and deli�er this Deed ❑f Trust to Lend�r.
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<br />� Defense of Titfe. Subject�❑ the exception in �he paragraph abo�e, Trustor warran�s and will fare�er defend the
<br />, �itle t�the Property against the lawful claims ❑�a11 persons. ln the eWent any act�an a�-praceeding is cvmmenced
<br /> �hat ques�ions Trustor's ti�le or the interest o�Trustee or Lend�r unde�r this �eed ❑f Trus�,T�rustor shall de�end�he
<br /> ac�ion at Trus�ar's expense. Trustvr may be the nominal party in su�h pro�eeding, but Lender shall be en�i�led�o
<br />� par�icipate in fihe pro�eeding and �o be represen�ed in the proceeding 1ay counsej ofi Lender's own chvice, and
<br /> Trus�vr will deli�er, ar cause to be deli�er-ed, tv Lender such ins�rumen�s as Lender may reques�from time fiv time
<br /> �o permit such par�icipation.
<br /> Campliance W�th Laws. Trustar warrants �hat fihe Prvper�y and Trus�vr's use v� �he Prvperty cvmp[ies w�th a�[
<br /> exis�ing app�€cahfe laws, ❑rdinances, and regu�ations o�gv�ernmental authari�ies.
<br /> 5urviva� v� Prvmises. All pramises, agreements, and sta�tements Trus�ar has made in fihis Deed ❑f Trus� shall
<br />� sur�i�e�he execu�ion and delivery of this ❑eed of Trus�, sha�i be continuing in nature and shall r�main in�ufl €�rce
<br /> and effect unti�such�ime as T�us�vr's lndebfiedness is paid in�u�l.
<br /> E7�15T�NG INDEBTEDNESS. The fo�Iowing pro�isians �oncerning Ex�sting indebtedness are a part v�f this Deed of Trus�:
<br /> Existing Lien. The lien �� this Deed ❑fi Trust securing fihe �ndel�tedness may }�e secvndary and inferivr to an
<br /> exis�ing lien. T�us�ar �xpressly co�enants and agrees �o pay, or see t❑ the paymen�of, �he Existing indebtedness
<br /> and�o pre�en�any default on such indebtedness, any defaul�under the ins�ruments eWidenc�ng such indei�tedness,
<br /> or any defaulfi under any security dacumen�ks�or such indebtedness.
<br /> No Modificativn. Trustor shai� no� enter in�❑ any agreemen� with �he holde� ❑� any m�rtgage, deed of trust, or
<br /> other security agreement which has priarity o�er this Deed of Trust by which that agreement is modified,
<br /> amended, exfiended, ar renew�d wi�hout the prior wri�k�en cvns�n� vf Lender. Trus�or shall neither request nvr
<br /> accep�k any future ad�ances under any such security agreement wi�hout the prior written cansent of Lender.
<br /> C�NDENINATI�N. The fa��owing pro�isions rela�ing t� condemna�ian p�-oceedings are a pa�t❑f�his Deed of Trust:
<br /> P�oceedings. �f any proceeding in condemnativn is fiiled, Trustor shal! prampfily no�ify Lender in wri�ing, and
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