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��15�1417
<br /> ��ED �� `fi�U�T
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<br /> ��o�i�1�1u:��d} Page 3
<br /> �he Na�ior�al Flvvd Insuran�e Pragram, ar as otherwis� �-equ�red by Lender, �nd ta maintair� such insurance for fhe
<br /> terr�o��he loan.
<br /> Application af Proce�ds. Trustar shall promptEy notify Lende�of any Ioss�r damage tv th� Proper�y. Lender rriay
<br /> make praof of los� if Trustar fails to d❑ so within fifte�n ���} days of fhe casualty. Whether or nvt Lender's
<br /> securi�y is impaired, Lender r�ay, at Lend�r's eiectivn, re�ei�e and retain �he proceeds of any insuranee and apply
<br /> the p�roceeds �a#he reduc�ivn o�F the Indebtedness, payrnent of any fi�n a�fecting fihe Proper�y, ar#he restvrat�vn
<br /> and r�pair of the Property. I�F Lender elec�s ta apply the proceeds tv res�c�rdt�on and repair, Trus�vr sha�I repair or
<br /> replace the darnaged �r des�royed lmpro��ments in a manner satisfa��ary to Lender. Lender shall, upon
<br /> sati�factory proo� of s�uch �xpenditure, pay �r reir�hu�se Trust�r fram fhe proceeds for �he re�svnabf� cost of
<br /> repair or restoration if �'rustor is nv� in default under this Cleed af Trust. Any proceeds which have nat been
<br /> disburs�d wi�hin 18� days af��r their recei�t and which Lender has n�� cvmmif�ed tv �he repair ar restoration o�
<br /> the Prnp�rty shall be used tirs�#o pay any amaunt c�wing to Lender under this D�ed afi Tru�t,then tv pay accrued
<br /> interest, and �he remainder, if any, shall b� appfied �a the prir�cipal �alance af�he Indebtedn�ss. !f Lender hol�s
<br /> any pr�ceeds after pay+menfi in full of �he Indeb�edness, such proce�ds shall be �aEd ta Trusfar as Trustvr's
<br /> in��rests may appear. _
<br /> �omp�ianc� with Existing indebtedness. During �he period in whi�h any Existing Indeb�edne�s described below is
<br /> in e�'ect, compliance wi�h fihe insuran�e pro�isions �on�ained in f�e instrument e�idencing such Exis#ing
<br /> fndeb�sdnes� shall cvnstitut� compiiance with the ins�ranc� provisions under this Deec� of Trust, �o �he ex�ent
<br /> cornpliance with the terms af fhis Deed o�Trus�w�uld �canstitut� a dupl�catian of insurance requ�rement. If any
<br /> prv�eeds from the insurance become payabfe on loss, #he pro�isionS in this Deed af Trust for di�ision of proc�eds
<br /> shall apply only ta tha�por#ion❑f�he pro�eeds not paya�le�o the hv�der o�the E�is�ing ir�debtedness.
<br /> LENDER'S EXPENDITLIRES. �f Trustar fails ��4} tv keep the Prvper�y �ree of all taxes, liens, securi�y ir�fierests,
<br /> en�umbran��s, and ather c[aims, �B} tfl prv�ide any required it�surance an �he Pr�perty, �C} to make repa�rs�Q the
<br /> Proper�y or ta c�rnpiy with an�nbli�at�an to maintain Exis�ing lndeb�edness in g�od s�anding as requ��-ed below, fihen
<br /> Lender may da so. lf any �efivn vr proceeding is commenced �hat woufd materia�ly a�Fect Lender's in�eres�s in the
<br /> Property, then Lender on Trustor's beha�� may, bu# is not required tv, take any actian that Lende�- befie�es to �e
<br /> appropriate to protect Lender's intere��s. All expenses incurred ar �aid byr Lender �or such purp�ses ►rvifl then hear
<br /> in#eresf at the rate charged under the Note from the date inc�rred or paid by Lender to the date vf r�Rayment by
<br /> Trustor: All such exp�nses wi�l he�orne a part of the Indebtedness and, at Lender's vptivn, will �A} be payable or�
<br /> �demand; �B} be add�d to �he balance o�the Note and be appart�vned among an� be payable with any iristal�ment
<br /> payments fio be�ome du� during eith�r [1} the term af any applicable ir�surance pol�cy; ❑r ��} the remaining�erm of
<br /> the Nvt�; or (C} be t�eated as a halCoo� payment which v►ri�l be du� and payable at the Nate's rnaturity. The Deed of
<br /> Trust also will secure payment af thes�amvun�s. The righ�s pro�ided for in �his paragraph shafl be in addi�ion �v any
<br /> other rights �r any remedie� to which L�ender rn�ay be entitled on accvunfi ❑f any defaul#. Any such ac�ian by Lender
<br /> shall r�o�be�onstrued as curing the defaul�so as fo bar Lender from any remec�y that it vtherwise wc�u�d have had.
<br /> WARRANTY; DEFENSE�F TITLE. The fo[lowin�pra�isivns relating t❑ownership of the Prop�rty ar�a par�o�fhis Deed
<br /> o�F Tru st:
<br /> Titie. Trusfior warrants thaf; �a}Trustor ha�ds gaad and mark�tab�e ti��� af record to the Property in fee simple,
<br /> fr�e and clear af a11 �i�ns and encumbranc�s �fiher than those sefi fvrth in the Reai Proper�y description or in the
<br /> Existing Indeh�sdness sec�i�n below or in any title insurance pali�y, titEe repart, vr finai fitle ap�nion issued in fa�or
<br /> a�, and a�cept�d by, L�nder in connection �i�h this Deed of Trust, and �b}Trusfor has fhe full right, power, and
<br /> authvrity tv execute and def�ver th�s aeed o�f Trust to Lender.
<br /> Defense of Tifii�. Subje�t to �he exc�pti�n �rr th� paragraph abo�e, Trustvr warran�s and wil� fore�er de�end �he
<br /> title t�th� Property again�t�he larn�ful cfaims of a1l p�rsons. �n fhe event any��tion or proceeding is commen�ed
<br /> that questians Trusfvr's title❑r the interest of T�ustee vr Lender under#his Deed c�f Trust,Trustor sha�l defend tf�e
<br /> action at Trustor's expense. T�-us�or may be the nvminal parky in such proceeding, bu�Lender shall be entitled�o
<br /> par�icipate in fhe proceedEn� and t� be represented in the proceedin� by counsef af Lender's ov�+n �hvice, and
<br /> • Trustor will d�li�er, ❑r�ause fio be deli�ered, �o Lende�su�h Enstruments as Lender may reques��rom tirr�e tv time
<br /> to permit su�h participatia�.
<br /> �amplianc� Vllith Laws. �rusfvr warran�s that fhe Property and Trustor's use of�he Property camplies with all
<br /> existing appficahl�laws,ordinances,and regulations af�a�ernmenta�auth�rities.
<br /> Survi�aE vf Pramises. A�! prornises, agreements, and st�temen�s Trustor has made in this �eed af Tru�t sha11
<br /> sur�i�e the execution and d�li�ery a�this Deed of Trust, shall be contir�uing in nature and�hall r�main in�ulf force
<br /> and e�fect until such tirne as Trustvr°� Indebtedness is pa'sd in�ufl.
<br /> EXISTiNG 1NDEBTEDNESS. The��Ifowing pr��isions cvncerning Exis�ing [ndebtedness ar�a parfi�f�his Deed of Trust:
<br /> Ex�s#ing Lien. The lien a� this ❑eed ❑f Trus� securing the Indebtedness may be secondary and inferior �o an
<br /> exisf�ng lien. Tru�tvr�xpressly cav�nant�and agrees tv pay, �or see to the paymer�t of, �he Existing indebtedne�s
<br /> and t❑pre�en�any defauf�❑n such indeb�edness,any defau[�under th�instruments e�idencing su�h indehtedness,
<br /> vr any defauft under�ny securi�y documents�or such indebfedness.
<br /> No #9�:�r�ifi�at�an. Trustvr shall n�# enter into any agreemenf wi�h fhe halder �f any mortgage, deed of trusf, or
<br /> ❑ther security agreement which has priority �ver #his Deed of Trust by which that a�reement is modffied,.
<br /> am�nded, ex�ended, �r renewed wi�hvut #he prior written consent o� Lender. Trustor sh�ll neither re�uest nor
<br /> accept any�u�ure ad�ances under any such security agr�ement withaut the priar�vri�ten consen�of Lender.
<br /> C�I��EMIVATIaN. T'he falla�ving pro��sions relattn�to cnndemnation proce�dings ar�a par�af this D�ed af Trus�:
<br /> Proceedin�s. [f any proceed�ng �n condemnation is filed, Trust�r sha!( pramptly� nvti�y Lender �n �vritin�, and
<br /> Trusfivr shall promptfy take such �teps as may be n�cessary to defend �he action and abtain fhe a�rard. Trusfvr
<br /> rr�ay be the nvminal party in such proceedin�, but Lender shal[be entitfed�n pa�icipa��in the proceedin�and fa be
<br /> represented in fhe pro�eeding by counsel vf its own choice, and T�-us#or wil� �el�ver ar cause �o be de���e�ed to
<br /> Lender su�h instrur�en�s and documentafiion as may be requested by Lender fram �ime t� time ta p�rmi� su��
<br /> particrpation.
<br /> Appli�af�an o€Net Prace�ds. �f all or ar�y�ar�af�he Property is candemn�ed by erninen�d�main prviceedings ar by
<br /> any pro��eding or p�r�hase in�ieu o�condemna�ion, Lender ma�at it�el�ction requ�re tha#alf or any por�ivn of fhe
<br /> ne� procee�s v�the award be applied to the lndebtedness or the repair or resfivration af�he Proper�y. The nef
<br /> proeeeds af fhe award shall mean the auvard after payment vf afl reasonable cvs#s, expens�s, and attorneys'fees
<br /> in�urred by Trus�ee or Lender in c�r�n�ction wEth�h�cvnt�emnation.
<br /> 1MPQS1T14N OF TA�ES, FEES►4ND CHARGE� BY GOVER�:�ENT�4�A�THDRlTI�S. Tne fallawing pra�ision�relating
<br /> to go�ernmental ta�xes,fees and charges are a part of�his Deed of Trust:
<br /> Current Taxes, Fees and Charges. Upan request by Lend�r, Tru�far shal� exec�ate such documents in addition �o
<br /> this C�e�d of T�-ust an� take v�hate�er other actian i� r��uested by Lender to perfe��and cvntinue Lender`s lien on
<br /> #he Rea! Property. Trustor shall reimburse Lender for al� taxes, as described below, tflgether with all expenses
<br /> incurred in recarding, perfiectir�� �r continuing t1�is Deed of Trust, including �nrithout �fmitati�n a�l �ax�s, fees,
<br /> docum�ntary stamps,and ather charges for recording vr registering fihis Dee�d af Trust.
<br /> w,,.�,,,,.,.,,�.,�_�.�-.,�..�,r..�;���,����_____��.:._.._....._.___-----•---------------�-----------=---------------------..... .
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