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��15�1��3 : � vEE� oF TRusT Laan N�: �D'1 Zg3535 ��ont�nued} Page 4 priar i�ens on �he prope�ty securing �he loan, up to the maximum palicy limi�s se� under �he Na�ivnal Flaod lnsuran�e Program, ❑r as o�herwise required by Lender, and�❑ maintain such insurance�or�h�term a�the laan. Applica�ion af Proceeds. Trustor shall promp�ly nvti�y Lender a� any lass ❑r damage t❑ the Proper�y. Lender may make praa� ❑� I�55 i� Trustor �aifs ta d❑ s❑ wifihin fiffieen ��5} days a� the casual�y. 11Vh�ther or nat Lender's securi�y is �mpaired, Lender may, a� Lender's elec�ion, recei�e and reta�n the pro�eeds o�f any insuran�e and app�y the prviceeds �a �he reduction �f�he Indeb��dness, payment vfi any lien a��ecting the Praperty, or �he res'�oration and repair o�the Praper�y. lf Lender elects to apply the prviceeds t❑ res�toration and repair, Trus�ar shall repair ar rep[a�e the damaged or destroyed Imprv�ements in a manner sati.s�aGta�y �a .Lender. Lender sha�l, upvn sa�isfac�ory prao� ❑� such expenditure, pay or reimburse Trustor from the proceeds fvr the reasonable G�S� ❑f repair or res�aration if Trustvr is not in de�au�t under this De�d of Trust. Any p�-o�eeds which ha�e nofi been ; disbursed wifihin �S� days af�er their receip� and whi�h Lender has not commit�ed t❑ the repair vr restvra�ion of the Pr�per�y shall he used firs�k to pay any amoun�awing t❑ Lender under�his Deed ❑�Trust, �hen�a pay accrued inter-est, and the remainder, if any, shall i�e applied to �he principal balance a�fihe Indeb�tedness. If Lender halds any proceeds afker payment in fiull o�F �he lndeb�edness, such pro�eeds shall be paid to Trustflr as Trus�ar's inte�ests may appear. Camp[iance wi�h Existing Indeb�edness. During �he per�od �n wh�ch any Existing l�ndehtedness described below is in effect, campliance wi�h the insuran�e pra�isions �cantained in �he ins�rumen� e�idencing such Exis�ting Indebtedness shall �vnsfii�ute compliance wi�h �he insurance pro�isivns under this Deed ❑f Trust, t❑ the exten't compliance wi�th �he �erms ❑f�this ❑eed ❑f Trus� wauld consti�u�e a dup[tcation o� insurance requiremen�t. if any , proceeds firom the insurance became payable an �oss, �he pro�is�ans in�his �eed of Trust for division of prviceeds shall app�y❑nly�❑that p�rtion of the prac�eds not payab�e fia�he ho[der❑f�he Existing Indebtedness. Trustor's Report an �nsurance. Upon requesfi❑f Lender, however nat mare than ❑nce a year, Trus�or shali -Furnish , fio Lend�r a report ❑n ea�h existing palicy �f insurance showing: t�} the name o�F the insurer; �2� �he risks insured; t3} �he amoun� of the po�icy; {4} �he prope�ty insured, the �hen curren� replacemenfi �a�ue ❑�F such proper�y, and the manner❑�f determining tha��alue; and t5} the expiration date of the pv�i�y. T�us�or shall, upvn reques�o�f Lender, ha�e an independent appraiser safiisfia�fiary�o Lender determine�he cash�alue replacemen�cost ❑f�he Property. � LENI]ER'S E7�CPENDITURES. I�f any ac�ion ❑r proceeding is cammen�ed �hafi would materially a�fect Lender's interes� in the Property ❑r if Trustvr fiails�v cvmp�y with any prvvis�on a��his Deed ofi Trus�vr any Re�ated �ocuments, including laut nat limi�ed �o Trust�r's fai�ure t❑ �omply wi�h any ol�Iiga�ion �� maintain Existing lndebtedness in good s�kanding as � required below, ar t❑ discharge or pay when due any amounts Trus�or is r��uired to dis�harge❑r pay under fihis I]eed of Trust ❑r any.Refated Do�uments, L�nder on Trus�or's beha�f may �but shall no� he ab[iga�ed to} take any ac�kion tha� Lender deems appr�pria�fie, inGluding bufi no�k limi�ed �v discharging ❑r paying all taxes, liens, securifiy-interests, encumbran�es and other claims, at any �ime I��ied ❑r placed ❑n fihe Property and paying all costs fvr insuring, main�aining and preserving the Proper�y. All such expendi�ures �n�urred ar paid by L�nder�or such purposes will then � l�ear in�erest a��he �-ate �harged under the No�e from the d ate incurred or paid by Lender ta fihe,date v� repayment by Trus�ar. All such expenses will b�come a par� ❑f the Ind�btedness and, at Lender's vptivn, will {A} •be payable �n demand; t6} be added �❑ the l�alance of fihe Note and be apportioned among and be payahle wi�h any insta!lment paymen-�s to become due during either 4�} �he term of any appficable insuran�e policy; vr �2} �he remaining �erm af �he No�e; �r �C� b� �reated as a bal��vn paymen�which will be due and payable at the No�e's ma�uri�y. The ❑eed of T�rus� alsa wilf secure payment of �hese amflunts. 5uch right shall be sn additivn t❑ all ofih�r rights and remedies �o whiGh Lender may be entitled upon ❑e�auf�, . � VIIARRANTY; DEFENSE DF T1TLE. The�oll�wing prv�isions relating�o ownership of�he Prvperty ar�a par�t❑�f this ❑eed , af Trus�: . . Ti#�e. Trus�or warranfs tha�: {a} Trustor halds good and marke�ahle �i�le of record to �he Prop�r�y in fee simple, free and clear o-� all liens and encumbrances othe� than �hose se�k for�h in the Real Property descrip�ivn or in the Exis�ing lndel��edness sectEon befow ❑r in any#i�le insurance poli�y, tit[e repvrfi, or finai ti�tle ap3nian issued in fa�or � o�, and accepted by, Lender in cannec�ion with �his Deed ❑f T�-us�, and {b� Trustar has�he full righ�, pow�r, and autho�ity�o execute and deliver�his Deed ❑f Trust t� Lender. . Defense vf Ti��e. .Subjec� �o the exception in fihe paragraph ab��e, Trustor warrants and will �ore�er defend the tEtle �o the Praperty againsfi the law�ui claims ��a[I persons. fn �he even�any ac�ivn ❑r proceeding is cvmmenced tha��uestions Trust�r's ti�le ar�khe interest of Trus�ee ar Lende�-under this Deed of Trust, Trustor shall defend�he action at Trustor's expense. Trusfior may be �he naminal party in such proceeding, but Lender shaii be en-�itled to participate in �he prviceeding and �o be represented in �he pro�eeding hy counsei of Lender's ❑wn cho�ce, and Trustvr wii[ deli�er; ❑r�ause to be deli�ered, �v Lende�-such instrum�nts as Lender may �equest�rnm time t❑�ime to permit such.par�icipa�ian. � Cvmpliance 1NEth Laws. Trustor warran�s �hat the Praperty and Trus�or's use n� the Property cvmpfies wi�h all exis�ing app�icable laws, ord�nances, and regulafiio,ns of go�ernmenta� au�horities. Survival of Repr�sentations and VIlarranties. A�! representatians, warran�ies, and agreements made hy Trustor in , �his Deed of Trust shall sur�i�e the execution and deli�ery of this ❑eed o�Trust, shall l�e can�k�nuing in nature, and shall rema�n in full�arce and efif�ct unt��such��ime as Trustor's fndebtedness shaF[ be paid.in full. EXISTING 1NDEBTEDNESS. The following provisivns concerning Exis�ing lndebtedness are a part of this ❑eed❑f Trust: