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��15��9�7 � �EEI� �F TR[�ST Laan Noe 'f�1�5�27'� ��[]�7t��lued} Page 4 make proof of I�ss if Trustor �ai�s to da sa wi�hin fifi�een {'�5� days ot the casualty. Whether �r nvt Lender's security is impaired, Lender may, at Lender's election, recei�e and retain the pro�eeds �f any insurance and apply the prv�e�ds tv the reductian af the �nd�bt�dness, payment of any lien affecting the Proper�y, ar the restora�iQn and repair ��the Property. If Lender ele�ts �ka apply the pr�ceeds to restora�ion and repair, Trust�r shall repair vr replac� �he damaged or destroy�d lmpr��ements �n a manner satisfactory �o Lend�r. Lender shatl, upon satisfa�tvey proof of such expenditure, pay or reimburse Trustor from the proc�eds far �he reasonable cost v� repair vr res�orati�n if Trustor is not in default under this Deed o�f Trust. Any prQceeds which have no� �een disbursed within 18� days after �heir r�ceipt and which Lender has n�t commit�ed tv �the repair or resfi�ration of the Praper�y sha1� b� used firs�to pay any amvunt vwing �o Lender under this Deed vf Trust, then �o pay a�crued interest, and the remainder� if any. shal! be applied �o �he principa! baEance o�the Indebtedness. !f Lendsr holds any proceeds after payment in �Fuli of �he Indebt�dness. such proceeds shall be paid tv Trus�ar as Trust�r's interests may app�arn Trus�or's Repart or� Insuran�ee lJpon request vf Lender, howe�er nat more than �nce a year, Trustor shall furnish to Lender a report �n each �xis�ing poficy ofi insurance sh�wing: {1� the name of the insurer; ��} the risks insured; �3� th� amvunt nf the policy; �4} the praper�y insured, the �h�n �urr�nt replacem�nt value of such praperty, and the manner of determining that�a�ue; and {5y the expiration date af the poli�y. Trust�r shall� upon request v�L�nder, ha�e an independen�appraiser satisfiactory to Lender determine the cash�afue replacement cost af the Property. LEN�ER'S EXPENUITU�ESo l�any acti�n �r pro�eeding �s c�mmenced tha� w�uld mat�rial�y affect L�nder"s int�res�in the Property vr i�Trustor fails �o cvmply with any �rovisivn of�his ❑e�d af Trust or any Related Documentst including but not Eimi�ed tv Trustor's failure �o discharge �r pay when due any amounts Trustor �s required to discharg� ar pay un�er this D��d af Trust or any Related Do�uments, Lender�n Trustar's �ehalf rr�ay {bu�sha[I not be ❑b[igated ta] �ake any ac�ion that Lender deems apprapriate, inc[uding but nvt limited �o discharging �r paying all �ax�s, �iens, security interests. encumbrances and other claims, at any t�me levied or plac��on the Praper'ty and paying all cosfis for�nsuring� maintaining and preser�ing the Proparty. AII such expendi�ures incurred or paid by Lender �or such purp�ses wiil then bear int�r�s� a�the ra�e charge� under the Note �rom the date incurr�d or paid by Lender ta the date of repaymen� by Trustor. Ali such �xpenses v►►ifl become a part of the ]ndebtedness and, a� Lend�r's �p�ivn, will �A} be payable on demand; tB� be ad�ed to the �alance of �he Not� and �e appvrtioned amvng and be payab�e with any instal�ment payments t❑ b�come du� during either �� the term of any applicable insurance pvlicy; or �2� the remaining term af th� Nate; vr {�} be treated as a balioon payment which v►rill be du� and payable at the Nate`s maturi�y. The Deed vf Trust alsa w�ll secur� payment af these amountso Su�h right sha�l be in additivn ta afl vther ri�hts and remedies t❑ v►rhi�h Lender may be en�itled upvn Default. 'WAF�RANTY; DEFENSE�F TITLEa The folla►n�ing provisions rela�in�t�awnership vf the Pr�perty are a part af this []eed o�Trust: Title. Trustor warrants #hat: �a} Trus�or holds good and marketable title o� record t� the Property in fee sEmple� free and c[ear �f afi liens and encumbrances other than those set f�r�h in �he Real Property descriptifln or in any title insurance policy. tit�e repor�, or final title opinian issued �n ta�ar of, and acc�pted by, Lender in connection with th�s Deed af Trust, and ��y Trustnr has�he�ulE right, pov►rer. and au�hority tv ex�cu�e and deliWer'this Deed af Trust to Lender. Defens� a#Tit�e. Suba�ct to th� excepti�n in �he paragraph abo�e� Trustor warrants and v►ril� fi�rever defend th� �it�e to the Property agains��he lawful claims af a�! p�rsvns. In the e�ent any action or proceeding is commenced that questions Trustvr's title or the interes�of Trustee or Lender under this Deed fl�Trust, Trustvr shall defend the action at Trustvr"s expense. Trustvr may b� �he narninal party in such prviceedin�� but Lender shall be entitled to part�cipate in the proceeding and t� be represenfied in the proceeding by counse! of Lender's own chaice, and Trustor will de�i�er, or caus�ta b� de[i�ered, to Lender such instruments as Lender may reques�from time ta tirr'� ta p�rmit such participation. Complian�� 1Nith L�vvs. Trustor warrants �hat the Pr�perty and Trust�r's use ��F th� P�ope��y comp�ies with all existing appli�able lav►�s, ordinances, and regulations of gv��rnmental auth�rities. Sur�i�al vf Representatians and V1larrant�esa Ali representations. warranties, and agreements made by Trustor in this aeed o�Trus�shali sur�ivs the execution and d�liWery of�this Deed o�Trust, shall he continuing in na�ure, and sha[f remain in full f�rce and eff�ct untii such fiime as Trustor's Ind��edness shall be paid in fulfe C�]1VDEIIrIIVATiQN. Th�foll�v►ring pro�isions rela�ing to condemnatian praceed�ngs are a part af�his Deed�fi Trust: ProGeedingso If any proc�eding in condemn�tion is filed, Trustor shali pr�mptly notify L�nder in wrEting, and Trustar shali pramp�ly take such steps as may he necessary �a defend the act�on and abtain the a►rvard. Trustor may b�th�nvminal party in such proceeding, but L�nder shali be�ntifiled to participate in�he pro�eeding and to be represented �n the prviceeding hy counsel af its ❑wn choice, and T�usto� will de�i�er or cause to be deliv�red �v Lender such instruments and dacumentation as may be reques�ed by Lend�r #rvm time �a time to pe�mit su�h parti�ipatEon. Appfi�atian of Net Prgceeds. lf afl nr any part�f the Pr�perty is cond�mned by emin�nt domain proceedings or by any proceeding or pur�hase in lieu fl�condemnation. Lende�may at its electivn �-equire that a!I or any portEon of the net pr�c�eds of the award be applied to the Indebtedn�ss or th� repair ar �est�ration of the Property, The net praceeds of the award shall mean the award after payment❑f al� reasona�le costs. expens�s, and attorneys' fees