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��15��354
<br /> DEED �F TRUST
<br /> Loan N�: '[D 7 2849'l 5 �CDnt[tlued� Pag� 4
<br /> and repair of fhe Property. I� Lender elects to apply �he proceeds �❑ restora�ion and repair, Trustar shall repair ❑r
<br /> rep�ace �he damaged or destroyed Impro�ements in a manner satisfactory to Lender. Lender shall, upon
<br /> satisfactory prao� ❑f such exp�ndi�ure, pay or reimburse Trustor fram �he praceeds for the reasvnable cost o�f
<br /> repair or restoration i� Trus�or is not in defiault under this Deed �� Trust. Any proc�eds which ha�e nvt heen
<br /> disbursed wi�hin '�S� days af-�er �heir �eceFp� and which Lender has not cammitted ta the repai� ❑r restora�ion a�
<br /> the Property shall be used first t❑ pay any amount ❑wing to Lender under�his Deed of Trust, then tv pay a�crued
<br /> �n�erest, and the remainder, i� any, shall be appl�ed to the principal ba[ance o� the Indebtedness. If L�nder halds
<br /> any pro�eeds a�ter paymen� in full o� fihe [ndehtedness, such proceeds shall be paid to Trustar as Trustor's
<br /> interests may appear.
<br /> Trustar's R�por#on [nsurance. Upon request of Lender, hvwe�er no� more than ance a year, Trustar shall furnish
<br /> ta Lender a report on each sxis�ing policy �f insurance showing: {1� �he name ❑fi the insu�er; ��} the r�sks
<br /> insur�d; �3� �he amoun� ofi the poiiCy; {4� the property insured, the then �urren� r�placement �alue of such
<br /> proper�y, and the martner❑f det�rmining tha��alue; and {5} the expiration date ❑f the palicy. Trustor shall, upon
<br /> request�fi Lender, haWe an independent appraiser sa�isfac�ory�o Lender de�ermine�he cash Walue rep[acement cos�
<br /> of�he Praper�y.
<br /> LENDER'S E�CPENDITURES. If any activn or pra�eeding is commenced tha�wou[d materiai�y af�ect Lender's interest in
<br /> the Property ar if Trustar tails to comp[y wi�h any pravision of�his ❑eed ❑f Trus� ❑r any Re�ated ❑ocuments, including �
<br /> hut nofi timited �❑ Trus�ar's fai[ure �o discharge �r pay when due any amounts Trustor is required �❑ discharge ar pay
<br /> under fih�s Deed of Trus�or any Re�ated �vcumenfis, Lender an Trusfior's behaff may {but shall not be ❑bliga�ed �o} take
<br /> any ac�ion that Lender deems apprapriate, inc[uding but not [imited �o discharging or paying al� �axes, [iens, secur��y
<br /> interests, encumbrances and ather claims, at any�ime le�ied ar placed on the Proper�y and paying all cos�s��r insuring,
<br /> maintaining and preserWing the Praperty. All such expenditures incurred or paid by Lender-For such purpases will then
<br /> bear interest at the rate charged under the Nvte �rvm �he date incurred ar paid by L�nder to the date of repayment by
<br /> Trus#�r. All such expenses will become a par� of the Indebtedness and, at Lend�r's op�ion, will �A} be payabl� on
<br /> demand; {By be added ta �he balan�e ❑f �he Note and be appor�ianed among and be payab[e with any installment
<br /> paymen�s t❑ become due during either �1� the term of any applicable �nsurance po[icy; ar {�} the remaining term of
<br /> th� Note; or {C} be treat�d as a balloon paymen� which will be due and payable a��he Note's maturi-�y. The Deed ❑f
<br /> Trus� also will secure payment ❑� these amounts. 5u�h right shall be in addition to all ❑ther righfis and remedies to
<br /> which Lender may be�ntitl�d upan ❑efault.
<br /> WARRANTY: QEFEMSE�F TITLE. The fiollowing proWisions rela�ing to vwnership o�th� Prap�r�y are a part of this Deed '
<br /> a-�Trus�:
<br /> TEt[e. Trustar warran�s tha�: {a} Trustor hoEds good and marke�able ti�le ot record to �h� Property in fee simple,
<br /> tre� and clear o# all liens and encumbrances o�her �han �hose s�� forth in the Real Properfiy description or in any
<br /> title insurance po��cy, title repart, ❑r final ti�le opinion issued in ta�or of, and accep�ed by, Lender in c�nne�tion
<br /> with�his �eed ❑f Trust, and {b} Trustor has the�u[l righ�, power, and au�th�rity fio execute and de[i�er this Deed of
<br /> Trust�o Lender,
<br /> Defense of Tit[s. Sub�e�� �� �he exception �n �he paragraph abaWe, Trus�or warrants and will fore�er defend the
<br /> �itle ta the Praperty agains�the law�u� claims af all psrsans. In the e��nt any action ❑r prviceeding is commenced
<br /> that questions Trustor's ti�le or the int�res�of Trus�ee or Lender under fihis D��d af Trust, Trus�ar shall de�end �he
<br /> ac�ion at Trustor's expense. Trustor may be �he nominal par�y in such proceeding, bu� Lender shall be entifiled t❑
<br /> participate in �he pr��eed�ng and t❑ be represen�ed in the praceeding by counsel ❑-� Lender's awn chvice, and
<br /> Trustor wil! de�i�er, ar�ause t❑ be deli�ered, t� Lender such instruments as Lender may request t�om time �o �ime
<br /> fio permit such par�icipation.
<br /> Gvmpliance With Laws. Trustor warrants that the Property and Trustor's use ❑fi the Property comp[ies w�th a�I
<br /> existing applicabfe laws, ardinances� and r�gula�ians of go�ernmen�al auth�ri�ies.
<br /> Survival of Represenfiations and Warran#ies. All representations, warranties, and agreements made by Trustor in
<br /> this De�d of Trust shall surWi�e th� execut�on and deli�ery❑f this Deed of Trust, shall be continuing in nature, and
<br /> shall remain in�ull �orce and �ff�c�unti[such time as Trustor's Endebtedness shal� be paid in full.
<br /> C�NDEIVINATION. Th�following proWis�ons relating t❑ candemrtation proceedings are a part�fi this ❑eed af Trust:
<br /> Proceedings. �f any prviceeding �n condemnation is filed, Trus�or shaIl p�ompt�y n�tify Lender in writing, and
<br /> Trustor shall pramptly take such s�eps as may be necessary to defend the action and �b�ain �he award. Trus�or
<br /> may be�he nominal party in such proc��ding, but Lender shall be enfii�l�d �� participate in th� pro�eeding and ta be
<br /> represen�ed in the proceeding by �vunsel af ifis own choic�, and Trustar will deli�er or cause to be deli�ered �o
<br /> Lender such instruments and documen�a�ion as may be r�qu�s�ed by Lender from �ime �a time to p�rmit su�h
<br /> par�icipa�ion.
<br /> Appii�a#ion o#Net Pro�eeds. I-�all or any part o��he Praper�y �s condemned by eminent damain praceedings ❑r by
<br /> any praceeding ❑r purchase in �ieu of condemnation, Lender may at its ele�tian require�ha�all ❑r any par�ion o�the
<br /> n�t proceeds ❑f �he award be app�ied to the lndeb�edness ❑r the repair ar rest�ratian ot �he Praperty. The nefi
<br /> proceeds of the award shall mean �he award after payrnent af a�� �easonable costs, expenses, and attorneys' fees
<br /> incurr�d by Trus�ee or Lender in connec�ion wi�h the condemnati�n.
<br /> 11111PU51TI�N �F TA�CES, FEES AND CHARGES BY G�VERNMENTAL AIJTHDRITIES. The fol�awing pr��isions relating
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