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<br /> DEED �F TRU�T
<br /> Loan Nv: 'l D'1�85��� �Corltlnued} Page 4
<br /> reasanab�y a�Gep�ahle �o Lender. Trustor, upon request of Lender, wilf deli�er to Lender from time �v �ime �he
<br /> policies or certificates ❑f insurance in form satis�act�ry to Lender, including stipufations that ca�erages wilE nat be
<br /> cancelled ❑r diminished wi�hou� at least ten ��0� days prior wrttten not�ce to Lender. Each insurance palicy als❑
<br /> shall incEude an endorsemsnt pra�iding tha�co�e�-age in fa�vr o�Lender will na�he impaired in any way by any act,
<br /> ❑missivn or de�au[t of Trus�vr ❑r any ❑ther persvn. Shvuld �he Reai Properfiy k�e io�ated in an ar�a des�gnated by
<br /> the AdmEnistrata�-ot the Federa! Emergency Manageme�t Agency as a special fload hazard area, Trustor agrees�o
<br /> ❑btain and main�ain Federal Flood Insurance, i� a�a�lable, wi�hin 45 days after notice is gi�en by Lender that the
<br /> P�vperfiy is Iocated in a special flavd ha�ard area,for the ful[ unpaid principa! balance of the loan and any prior liens
<br /> on�he properky securing�khe lvan, up tv the maximum palicy lim�ts set under the National Flood Insu�-ance Program,
<br /> or as oth�rwise required by Lender, and�o maintatn such insuran�e far the�erm v�fihe loan.
<br /> App[ication of Proceeds. Trus�or shall promp�ly no�i�y Lender of any lass or damage �o the Prape�ty. Lender may
<br /> mak� proof ❑f ]vss �� Trus�or �ails ta do s❑ withEn fifteen �15� days ❑f the casualty. Whether ar not Lend�r's
<br /> security is impaired, Lender may, at Lender's elec�ion, receive and retain�he proceeds o�F any insurance and apply
<br /> �he proceeds to �he redu��ivn ❑f the �ndeb�tedness, paymen� of any lien affecting the Praperty, or the res�orattvn
<br /> and repai��#the Pr�perty. If Lender efec�s fio app�y the proceeds �a res�ora�ion and repair, Trustor shall repa�r or
<br /> replace the damaged or des�rvyed impr��ements in a manner satisfactory to Lender. Lender shaii, upon
<br /> sa�isfactory pr�o� of such expenditure. pay or reimburse Trus�ar from the proceeds �or the reasonab�e cast ❑f
<br /> repair or restorativn if Trustor is no� in defaul� under this ❑eed ❑f Trust. Any proceeds which ha�e not been
<br /> disbursed wifihin �8� days af�er their receipt and which Lender has not �vmmitfied tv fihe repair vr restvra�ion v�
<br /> �he Proper�y shali be used firs�to pay any amvunfi awing to Lender under this ❑eed o�Trust, �hen to pay accrued
<br /> int�res�t, and �he remainder, if any, shal! be applied �o �he principai �alance of the lndebtedness. l�r Lender hofds
<br /> any prviceeds after payment in �ull ❑f the lndeb�edness, such prviceeds shal! be paid �o Trustor as Trust�r's
<br /> interests may appear.
<br /> Trustor's Report vn Insurance. Upon request❑f Lender, howe�e�-nvt more than once a year, Trustor shall �Furnish
<br /> to Lender a report ❑n each existing poficy of insurance showing: {�� the name of fihe insurer; �2� the risks
<br /> insured; {3} the amoun� of the pvli�y; �4} th� prop�rty �nsured, �he �hen current replacement value of such
<br /> praperty, and th� manner af dete�mining tha��alue; and �5} the expirativn dafie ❑f the policy. Trus�or shall, upon
<br /> request❑f Lender, ha�e an independent appraiser safiis�actory fio Lender determine the cash�alue replacement cvst
<br /> of�he Praperty.
<br /> LENDER'S E�CPEND�TURES. f�any action or proc�eding is cammenced�hat would materially affect L�nder's Enterest in
<br /> the Proper�y ❑r if Trus�or fails to comply with any pro�ision ❑f this ❑eed af Trust vr any Related Documen�s, inc�uding
<br /> hut na� limited t❑ Trustor's �Failur� t❑ discha�-ge or pay when due any am�unts Trus�or is required to discharge ❑r pay
<br /> � under this Deed of Trust or-any Rela�ed Documen�s, Lender on Trustor's beha[f may �bu�shall not be o�ligated to} take
<br /> any action that Lender deems appropriate, inc�uding but not limi�ed �v dischar�ing or paying all taxes, liens, se�urity
<br /> interesfis, encumbrances and v�her claims, a�any�ime le�ied ❑r placed an�he Property and paying all cos�s�r�r insuring,
<br /> maintaining and preser�ing �he Property. AI� such expenditures in�urred ❑r paid 1ay Lender far such purposes will then
<br /> hear inter�st a�the rafie charged unde�-ths Note from �th� da�e incurred ❑r paid by Lender to�he date �� repayment by
<br /> Trustor. All su�h expenses wi11 be�vme a part o��he lndebt�dn�ss and, at Lender's op�ion, will �A} be payable ❑n
<br /> demand; �6� be added to the ba�ance of �he No�e and be appartianed among and be payable with any insfialimen�
<br /> payments fia l�ecvme due durrng ei�her ��} the term vf any applicable insurance pofEcy; ❑r �2} �he remaining term af
<br /> �he Nvte; or 4Cy be �rea�ed as a haECoon payment which will be due and payable a�the Note's maturity. The Deed of
<br /> Trus� alsa will secure payment of �hese amounts. 5u�h right shall he in addition ta a�[ ❑fiher rights and remedies �v
<br /> which Lender may be en�i�led upvn De�aul�.
<br /> WARRANTY; DEFENSE�F T1TLE. The f�llowing pra�isians refating to ownership of�he Properfiy are a part vf�this Deed
<br /> a�Trus�:
<br /> Ti�le. Trusto�-warrants thafi: ta} Trustvr halds gvvd and marketable ti�le ❑f recard �o �he Property zn fee simple,
<br /> free and ciear of all liens and encumbrances a�her than thase set forth �n the Real Praperty descrip�ian or in any
<br /> ti�le insurance pvlicy, �i�le repart, or fina� title vpinion issued in �a�or ❑�, and accepfied by, Lender in connec�ion
<br /> wi�h this Deed af Trust, and �b} Trustor has the full right, pawer, and au�hority�ko execute and de[E�er this Deed of
<br /> Trus�to Lender.
<br /> Defense of Title. Sub�ect�a the exception in the paragraph abo�e, Trus�or warran�s and wi�E fore�er defend �he
<br /> ti�le�a the Property against the lawfuf cla�ms a�all persans. ln the e�ent any activn ❑r prviceeding is commenced
<br /> tha�questivns Trustvr's�i�le or�he interes�af Trustee or Lender under�his Deed ��f T�-ust,Trustar shall defend the
<br /> ac�ion at Trust��'s expense. Trust�r may t�e the nvminal pa�ty in such proceeding, hut Lender shall be entitled t�
<br /> par�icipate in �he proceeding and t❑ be r�presen�ked in the prviceeding by cvunsel of Lender's own chvice, and
<br /> Trustor will deli�er, ❑r �ause to be defs�ered, fia Lender such instrumen�s as Lender may request from�ime�❑time
<br /> ta permit such participa�ion.
<br /> Comp�iance Vllith Laws. Trusto�- war-rants that the Property and Trus�vr's use of �he Proper�y complies with all
<br /> existing app��cable laws, ordinances, and regulations��g��ernmental authorities.
<br /> 5urvival of Representations and Warranties. All rep�resenta�ions, warranties, and agreements made by Trus�ar in
<br /> fihis i�eed af Trus�shall sur�i�e�he exe�u�ion and deli�ery ❑f this Deed o�Trust, sha�l be cantinuing in nature, and
<br /> • shall remain in�ull fivr�e and e��ec�until such time as Barraw�r's Indeb�edness shall be paid in full.
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