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��15���31
<br /> DEED �F TRUST
<br /> Loan Nv: �����4�99 �C�nt�nued} Page 4
<br /> , reasonab�y accepta�le -�o Lender. _.Trus�or, upon•reques� ❑f Lender,. will deliWer tv.Lender �r.am t�me.to time.the
<br /> . .-
<br /> policies.or ce�tifi�afies:a#insuran�e in-fnrm safiisfactory to,Lender, inc�uding st�pula�ians��hat..caWerages.wi�I,not he
<br /> i cancelled,�or_diminished w.ithout�at leas���e.n w{1�} days priar wri�ten.no,'�ice fio Lender-.. Each:.�nsurance.pvlicy also
<br /> � ;.
<br /> +}� shall,�incIude an endarsemen�ipro�iding�ha�k-cvverage in fa�or.vf Lender iivil,l�riofi�,be�impaired_Fn any way kby.any lact,
<br /> amission ❑� de.f_ault o�.Trustv.r.:_vr. any_ath�r persan.:5hauld �he Rea��Property�h,e loc.a�e.d�in an area�d�esignated by
<br /> ��s��the�Ad�minis�ra�ar o���e Fede+ral Emergericy Management Agency as arspecial�flvod hazard area, Trus�vr.agrees fiv
<br /> ob�ain and maintain Federal Flovd lnsurance, if a�ailala�e, far�he �ull unpa�d prin�ipal balance ❑f�khe-loan and�any
<br /> •' p�ior liens on'"the�"�prvperty�"securin�g"the� laan, up=�o�-�he-maximum �pvIicy �limits�set under the'Na�ional� Fl�oad
<br /> w=� lnsurance�Program, vr-as vtherwise�'required by Lender, and�❑ maintain�such insurance.�or-�he term af�he laan.
<br /> � App[ication of Pra�eeds. Trustor shafl prvmpt[y nati�y Lender❑�f any loss ar damage to�he Proper�y. Lender may
<br /> � �make praaf ❑� �n55 if T�ustor fails �o�d❑ so wi�hin fifteen {15} days o�F the casualty. Whefiher vr not Lender's
<br /> securifiy is impa��-ed, Lender may, at Lend�r's e�ec�ion, recei�e and reta�n �he proceeds ��any insurance and apply
<br /> the pr��eeds �❑ �he reduction v�the lndeb�edness, payment o� any lien a�fec�ing the Property, ❑r the res�aration
<br /> and repair o�ths Property. If Lender elec�s t� apply the prviceeds ta resfioration and repair, Trustor shall repair or
<br /> replace �he damaged or des�troyed lmpro�emen�s in a manner safiisfacfiory fiv Lender. Lende� shai�, upvn
<br /> satis�ac�ary`prao� of such expenditure, pay ❑r reimburse Trusfior fram the praceeds for the reasonable cas� ❑�
<br /> repair or restora�ian if Trusto�r is.not �n defau[t under this �eed o� Trus�. Any prace�ds which ha�e na� been
<br /> disbursed within 18❑ days afke� thei�- receipt and which Lender has nat �ommi�fied �❑ -�he repair ❑r restaration o�
<br /> the Prvperty sha�� be used �irst to p:a.y any amount owing t� Lender.under�his Deed o�.Trust,�.�hen tn..pay a�crued
<br /> infieres�, and fihe remainder; if�any,"shall �e app�i�d+tv �h� principai balance of�he Indeb�ed'ness. �!f Lend�r hvlds
<br /> any proceeds af-�er paymen� in �ul� ❑� the �ndehtedness, such proceeds shall be paid ta Trus�or as Trus�or's
<br /> infieres�s may appear.
<br /> Trustor's Reporfi on �nsurance. Upon request o� Lender, hawe�er nvfi more than onc��a year, Trus�or shall furnish.
<br /> fio Lender a report an each existing policy ❑� insurance showing: �'i} �he name of the insurer; ��} the risks
<br /> insured; �3} the amoun�k ❑f �khe policy; {4} �he property insured, �he �hen current replacement �alue o� such
<br /> properfiy, and the manner v�determining�hat�alue; and �5� �he expira�ion date ❑�F�he pvli�y. Trustor sha��, up�n
<br /> reques�o�Lender, ha�e an�independent appraiser satis�actory�o Lender de�ermine the cash�alue replacement�ost
<br /> o�the Praperty.
<br /> LENDER'S�EXPENDfTURES. I�;any act�on ar proc��ding is cammenced that w�uld-materially af�ect Lender's interes� in
<br /> �he Praperty ar i�Trus�or fails �❑.camply,_wi�h_an.y.proWisi�n.vfi this_Deed of-Trus�or..any Re�a�ed Dacumenfis, includ�ng
<br /> bu� nat lim�ted �o Trustor's failure �❑ discharge ❑r`pay when due an� amounts Trusfior is required �v discharge or pay_
<br /> under this I�eed of�Trust-�r any'Rela�ed�Do�uments;�L:ender an•Trustor's behal�may {bu��sha[[-no�be�"obligated to}�take �
<br /> any ac�ion fihat Lender deems appropriate, including bu� no� limi�ed �a discharging ❑r paying al� �axes;�liens,��securi�y=
<br /> infieres�s;;ene_umbrances,and-v:ther:.elaims, at.any t�me le�ied or placed on:.�he:Proper�y and:paying.all Gos�s far insuring,
<br /> main�aining and.preser�ing #he Pr._operty._;All�such expendifiures in�urred.ar.paid h.y Lender�far such;purposes.wi�l,�hen
<br /> bear in#erest a�the rafie charged under�the�Note from �he date inGurred or paid 1�y Lender-�o the.d�afie.o� repaymen� by
<br /> Trustor. All such expenses will become a parfi of�he [ndebtedness and, a� L�nder's �p�ion, will �A} be payable ❑n
<br /> demand; �B} �be added tv�the ba(ance��of the Nafie arid be apportioned amang and be payab�e with any ins�allment
<br /> payments tv become due during ei�her �1} the fierm o� any applicable insurance policy; ❑r���} �th� re�-naining�term af
<br /> �he Note; o� �C} be �rea�ed as a ba��oan payment which will be due and payable a�the Nvte's mafiurity. The Deed of
<br /> T�ust afso wiff secure payment vf �hese amvunts. Su�h right shall be in additian to afl other rights and remedies ta
<br /> which Lender may be en�ifiled upon De�ault.
<br /> WARRANTY; I]EFENSE�F T�TLE. The�oi�ow�ng provisians re�a�ing�❑ ❑wnership❑f the Proper�y are a part of�his I3eed
<br /> of Trust:
<br /> Titie. Trus�ar warrants that: {a� Trus�or holds good and marketable �kF�Ie vf record �o the Praper�y in fee simpf�,
<br /> free and clear af a�[ liens and encumb�-ances ❑fiher than �hose set�arth in the Real Property desc�-�ption or in any
<br /> title insurance poficy, �ifile repart, ❑r �ina� title ❑pinion issued in �aWar ❑�, and ac�ep�ed by, Lender in cannec�ion
<br /> wi�h this ❑eed a-F Trus�, and �b� Trus�ar has the#u[f righ�, power, and authvrity�o execu�e and deli�er this Deed vf
<br /> Trust tv�Lender. - � - � . . _ . • - � � . -- - . -- - -
<br /> Defense vf T�tle. 5u�ject�❑ �he excep�ivn in the paragraph a1�v�e, Trus�vr warrants and wi1� tare�er defend �he
<br /> �i�le�a fihe Property againsfi the law�ul c�aims of a�� persans. In �he e�en� any ac�ion ar proceeding is commenced
<br /> �ha�questivns Trusfior's fii�le or�he in�erest❑�Trus�tee or Lender under this ❑eed o�Trust,Trustor shaI� defend�he
<br /> ac�ion a�Trust�r's expense. Trusto�- may 1ae �he naminal party in such proceeding, �u� Lender shall be en�i��ed�❑
<br /> participa�e in the praceeding and �❑ b� represent�d in the proceeding by counsel a� Lend�r's ❑wn chaice, and
<br /> Trus�ar will deli�er, or cause to be deli�ered, t� Lender suGh instruments as Lender may request from time to time
<br /> �v permit such par�icipation.
<br /> Campliance Wi�h Laws. Trust�r warrants thafi the Prop�r�y and Trus�or's use of �he Praperty complies wi�h a�l
<br /> existing applicable laws, ❑rdinances, and regulat�ons ❑f go�ernmen�al authori�ies. .
<br /> �5urvival o� Representativns and Warran�Ees.� All representations, warranties, and'agreements made by-Trustor in
<br /> - fihis ❑eed at�Trust shal�l surWi�e�he execu�ion and�delivery of�his Deed vf Trust; sha�i be cvn�inuing in nafiure, and
<br /> shai� ��main in fu�I tvr�e and e��Fect un�il such time as Trustor's Indeb�edness�shall be paid in fu�l: �' � � - � '
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<br /> C�NI3EMNATfaN:#The�vlfowing pro�isions rela�ing�to condemnation pracee,dings are a�park��of�his Deed af Trust:�
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<br /> . ' ..., . .�� . . . . . . r .t� l,t� .. . ,y a . , . .. • .ti- .� . 'r � t a. �i� �-. -�- •..1
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