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��15�3579
<br /> DEED �F TRUST
<br /> �Continued� Page 3
<br /> eo�erage amQunts as Lender may re�uest wiih Truste� and Lender being named as additianal insureds sn suCh
<br /> fiability �nsurance policiss. Additian�lly, Trustor shall ma�ntain su�h ather insurance, including but nat limtted ta
<br /> hazard, husiness interruption, and boiler insurance, as Lend�r may reasonably require. Pt�licre�shall be written in
<br /> f�rm, amounts, caverages and �asis reasonabfy acceRtab�e tv Lend�r and issued hy a company c�r cQmpanies
<br /> reasonably a�ceptabte ta Lender. Trusto�, upon request Qf Lender, wi11 deliver t❑ Lender firom tirne to t�me the
<br /> policies or certi�icates af insurance in farm satisfactory to Lender, including stipulations th�t cv�erages wi�l not be
<br /> cancelled ar diminished without at least thirty {3ay days �rior written notice to Lender. Each insurance policy als�
<br /> shall include an endorsement pro�iding that�v�erage in fa�or o�Lender will nat he impaired in any way�ay any act,
<br /> omission ar defauit o#Trustar ar any other persvn, Should the Reai Praperty be lacated in an area designated by
<br /> the Administrator v#th� Fe�ieral Emergency Managemen�Agency as a speGial flovd hazard erea,Trustor agrees t�
<br /> obtain and m�intain Federal Ffood Insurance. if�►►aEtahle, far the fuEl unpaid principai baiance of the laan and any
<br /> prior li�ns on the prvperty securing the Ioan. up to the maximum palicy limits set under the Nativnal Flaod
<br /> Insuranc�Program, or as Qtherwiss requir�d by Lend�e�,and tv maint�in such insur�n�e far the term o�the Ioan.
<br /> Applicatian of Prv�eeds. Trustor sha�l pramptly notify Lender of any Ioss vr damage to the Property. Lende�may
<br /> make proof a# iass if Trustvr fails ta do so wit�in fifteen t 15f days ❑f the casualty. INhether or not Lender's
<br /> security is impaired, Lender m�y, at Lender's ele�ti�n, re��i�e and r�tein the prvGeeds vf�ny insurance and apply
<br /> the prvc�sds ta the reduction af#he �ndebtedness, payment o# any [ien affecting the Property. ar the restorativn
<br /> and repair�f the Prnperty. I�Lender eRe�ts to appiy the �raceeds tQ res#ora#ion and repair, Trustor sha�l repair or
<br /> replace the damaged or destroyed impro�em�nts in a manner satisfact�ry to Lend�r, Lend�r shall. upan
<br /> satisf�ctory pravf of such expenditure. pay or reimhurse Trus�or #�rom ths prQceeds faw the r�asan�bls cas� of
<br /> r�pai� o� restarat�vn if Trustor is nat in d��aul# under this Deed af Trust. Any pro�eeds which ha�e nat ba�n
<br /> disbursed within 1$D days af�Eer their receipt and which L�ncier ha� nvt �ommitted to the repair or restoration of
<br /> the Property sha�� be used fir�t tv p�y any amount owing�a Lender under this Deed of Trust, then to pay ac�rued
<br /> interest, and the r�ma+nd�r, if any, shall be appli�d ta the principa! belan�e vf th� lndebtedness. �f Lender holds
<br /> any prviceeds after payment in full af the Indebtedness, &u�h pr�c�eds shall be paid to Trustar as Trusto�'s
<br /> interests may aRp�ar.
<br /> Trustvr's Report an Insuran�e. Upon request af Lender, howe�er nat mor8 than ance a y�ar, Trus#or shall fu�nish
<br /> to Lender a �eport on each existing poiicy of insurance showing: {�y the na�me ❑f the insurer; t2y the ri�k�
<br /> insurss�; t3� th� am�unt of the po�icy; t4y th� praperty insured� the then current repl�c�ment ��lua o� such
<br /> prvperty, and the manner of determining tha#�a�ue; and �5y #he expiration date of the palicy. Trusto��hall, up�n
<br /> r�qu�st ofi Lender, he�e an independent eppcaiser satisfactory to L�nder determin�the��sh��lue r�placement cvst
<br /> af the Proper�y.
<br /> TAX AND �NSURANGE RESERVES. 5ubje�t tv any limitations and cans}stent wi#h any requirements set by epplicable
<br /> lavv, Lend�r may re�uire Trustor to maintatn with Lender reser�es far payment of annua� taxas, assessments. and
<br /> insurancs premiums, which reserves shals be �re�ted by �n �nitial deposit and subsequent month�y paym�nts, or
<br /> payments at such other inter�al as payments undsr the N�te may be du�,of a sum�stimated by Lender ta be sufficient
<br /> ta pay the total annua� taxes, ass�ssrnents, and insurance premiums Lender rea�onably ant�cipate� t� b� paEd from
<br /> these res�r�es. The reser►►e funds shal!be he�d by Lender�s a gen�re�deposit trom T�ustor, whiGh Lender m�y satis�y
<br /> by payment af the ta�es, assessments. and insurance premiums required ta be paid by Trustar as they becvme due.
<br /> Lender shai! ha�e the right #o draw upon the reser�� funds #o �ay such items, and Lender shall not �e required t❑
<br /> det�rmine the �alidity or ec�uracy o� any item before paying it. Nothing in the De�d of Trust shal! be �ons�rued as
<br /> requiring Lender tv aduance oth�r monies for such purpases, and L�nd�r shall not in�ur an�liebtlity for�nything ii may
<br /> d� or omit to do with respe�t to the reserue a�co�un�. Suh�ect ta any limitations set by applica�ble I�w, if#he r�ser�s
<br /> funds disclose a shortage ar deficien�y, Trustor shaii pa� such shortage ar defi�iency �s required by Lender. Atl
<br /> amoun�s in the reser�e a�count are hereby pledge�#o further secure the Indebtedness, and Lend�r is hereby�uthoriZ�d
<br /> ta withdraw�nd appfy su�h amounts�n the Indebt�dness upan the occurr�nce of an E►rent of�ef�ult. Lender shall nat
<br /> be required to pay �ny int�rest or earnings on the reser�e funds unless required by law ar agreed to by L�nder in
<br /> writing. Lender does nat hald the reser��funds in trust far Trustor, and Lender�s nat Trustar's agent fvr payment of
<br /> the taxes and assessments required ta be paid by Trustor.
<br /> LENDER'S EXPENDITURES. ff any actian ar pr�ceeding is cornmen�ed that wautd materiaily affect Lender's interest in
<br /> the Praperty or if Trust�r fail�ta compl�with any pro�ision Qf�Mis Deed of Trust a�r any Rslated �ocum�nts. �ncluding
<br /> but nat limited to Trustor's failure to disGharge ❑r pay when du� any amvunts Trustar is rsquir�d to disch�rge ar pay
<br /> under this Deed�f Trust or any Related Documents, Lender on Trustor's behalf may �but shal�n�t be ob�igated to� taka
<br /> any actian that Lender deemS appropriate, including but nat limited to discharging or paying all taxes, I181�5� security
<br /> interests, encumbrances�nd oth�r�laims� at any#ime le�ied or placed vn the Praperty and paying all cvsts f�r insuring,
<br /> maintain�ng and preser�ing th� Praperty. A�I such expenditures incurred or paid by Lender far such purposes wiil then
<br /> bear interest at the �ate charged under the Note from the dat� incurred o�paid by L�ndsr to the date of repayment by
<br /> Trustvr. All such expenses wiil become a part vf the Indebtedness and, at Lender's aption. wili �Af be payab�e on
<br /> demand; �B�f be edded to the balance of the Note end be eppartioned �mang and be p�yable with any installment
<br /> payments to becam�due during either {1) the term of any �pplicable insurance p��icy; ar �2� the remaining term of
<br /> the Nat�; ar �G} ��treated�s a balloon paymsnt whicM wif! be due �nd payable at the Nate's maturity. Th� De�c!of
<br /> Trust aiso will se�ure payment ❑f these amounts. Such right shall be in addition ta a�� other rights and remedi�s tn
<br /> whi�h Lender may be entitled up�on Default.
<br /> VIIARRANTY;DEFENSE�F T�TLE. The follvwing prQ�isivns relating to awnership vf the Praperty ar�a part of this Dsed
<br /> �f Trust:
<br /> Tit�e. Trustar warrants that: �a� Tru�tor hvlds goad and marketabl� tttie ❑f record tv the Praper�y in fee simple,
<br /> free and clear�f all liens and encumbr�nces Qther than thase set fo�rth in the Real Property description or in any
<br /> tit�e insurance R�licy, tit�e r�pvrt. ar final title opinion issued in fa�or of, and accep�ed hy, Lend�r in Gonnecti�n
<br /> with this Deed❑f Trust� and [b�Trustor has the�ull r�ght, power.and authority ta execu�e an�de�iver this Deed❑'F
<br /> Trust�o Lender.
<br /> Qef�nse of Titla. Sub�eGt to the exception in the paragraph �bo�e, Trustar war��n#s and will fore��r defend the
<br /> �itle ta the Property against the lawful c�a�ms of all persvns. In the e�ent any �ctian❑r proce�ding is Gommen�ed
<br /> that questions Trustor's t�tle vr the interest of Trustee or Lender under this Deed of Trust, Trustor shaii defend the
<br /> action at Trustor`s expense, Trustor may be the nominal party in such proceedEng, but Lender shall be enti#led t❑
<br /> parti�ipate in th� pro�eed�ng and ta bs represented in th� proceeding by caunsel of Lender's �wn choice, and
<br /> TrustQr w�l�deli�er, or cause ta be de�ir►ered,tQ Lender su�h instrurnents as Lender mey request frorn time to time
<br /> to permit such participation. ��
<br /> Camplianca With L�ws. Trustor warrants that the Prvperty and Trust�r's uss �f the Property camplies with all
<br /> exis�ing applicahle laws.ordinances. and regul�tions of go�ernrnentat authorities.
<br /> Sur�ivat af Representations and Warranties. Al! repcese�ttations, w�rranties, and agreements made by Trustor in
<br /> this f3eed of Trust shaii sur�i�e the e�cecutivn and deli�ery of this❑��d of Trust, shall be Continuing in nature, and
<br /> shall r�main in full force and ef#ect until such time as Trustar's�ndebtedness shal�be paid in full.
<br /> C�NDEMNATION. The follawing provisions re[ating to condemnativn proce�dings are e part��this�eed af Ttust:
<br /> Proceedings. �f any pro�egding in cond�mnatinn is filed� Trustar shall prvmptly na�ify Lender in writing, and
<br /> Trustar shall �rvrnptiy take such step$ as may be ne�essary to defend the a�tiQn and ohtain the aw�rd. Trustor
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