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��15�41��
<br /> DEED �F TRUST
<br /> Loan N�; '1�'1�85�7'l �Gontinued� Page 4
<br /> obfiain and maintain Federaf Flovd Insurance, i�f a�ailable, w��hin 45 days after no�ice is gi��n by Lender that the
<br /> Prvper�y is �ocat�d in a special flood hazard area, for�he full unpa�d principal ba�ance❑f�he fvan and any priar liens
<br /> on�he property se�uring�he loan, up ta�he maximum policy limi�s se�under the Na�iona� Fiaod lnsurance Program,
<br /> ❑r as o�herwise required by Lender, and to maintain such insurance�or�he term vf the Ivan.
<br /> Application of Pro�eeds. Trusfivr shalf promptly noti�y Lender o�f any [oss ❑r damage �❑the Property. Lender may
<br /> make proo� af lass if Trus�or fails to do so within fifteen ��5� days o� the casualty. Whe�her vr nvt Lender's
<br /> � securEty is impaired, Lender may, at Lender's election, recei�e and re�ain the proceeds ❑f any insurance and apply
<br /> �he proceeds to �he redu�tion of the Indebtedness, payment of any lien affecfiing the Praperty, or the res�oration
<br /> and repair of the Property. lf Lender e[ects to apply�he proceeds to restoratton and repair, Trustor shall repair or
<br /> replace fihe damaged o�- destroyed lmpra�ements �n a manner satisfactvey to Lender. Lender shall, upon
<br /> satisfactory p�-oo� o� such expenditure, pay ❑�- reimburse Trus�ar fram the proceeds for �he reasonahle cost af
<br /> re�air or restoration i� Trus�or is nvt in de�aulfi under �his ❑eed af Trust. Any proc�eds wh�ch haWe nat been
<br /> dishursed within 'l8� days af�er�heir re�eip� and which Lender has no# �ommi�ted to fihe repair or restorafiion ❑f
<br /> �he Proper�y shall be used �irst to pay any am�unt owEng�o Lender under this Deed vf Trusfi, then�❑ pay accrued
<br /> interest, and the remainder, if any, shall he applied �o fihe principal balance ❑f the lndebtedness. If Lender halds
<br /> any prviceeds after payment in fu�! of the �ndebtedness, such pra�eeds sha[f be paid t� Trus�or as Trus�or's
<br /> in�erests may appear.
<br /> Trus�or's Repvrt vn Insurance. Upon request of Lender, howe�er nvt more than ❑nce a year, Trustor shal� furnish
<br /> to Lender a repor� ❑n ea�h exis�ing policy o� insurance showing: ��} the name of th� insurer; ��� �he risks
<br /> insured; �3} �he amount o� the policy; 44} �he proper�y insured, the then �urrent replacement �alue vf such
<br /> property, and�he manner o�determining thafi Walue; and �5� �he expiration date af the po�icy. Trustor shall, upon
<br /> �eques�❑f Lender, ha�e an independent appraiser sa�isfac�ory�o Lender determine the�ash�alue replacemen�cost
<br /> o��he Praperty.
<br /> LENDER'S E�CPEN�ITURES. lf any action ar proceeding is cnmm�nced that would ma�erially affect Lender's interest in
<br /> the Prop�rty ar i�Trus�tor fai�s�o c�mply wi�h any pro�ision o��his ❑eed a�Trust �r any Related Documents, including
<br /> but nv� limi�ed �v Trustor's failure to discharge or pay when due any amaunts Trus�o�- is required �o discharge ❑r pay
<br /> under�his Deed of Trus�or any Re�ated �ocuments, Lender ❑n Trustor's behalf may �but shaf� not be ❑bligated toy take
<br /> any activn �ha� Lender deems appropria�e, incEuding but nvt limited �� discha�ging or paying all taxes, liens, security
<br /> interests, encum}�rances and other claims, at any time le�ied or placed ❑n the Property and paying all �asts for insuring,
<br /> maintaining and preser�ing the Property. Afl such �xpenditures incurred �r paid by Lender for such purposes wil� fihen
<br /> bear interes�k a��he rate charged under the Nvte �rvm �he da�e incurred vr paid by Lender t❑the date of repayment by
<br /> Trustor. All such expenses wilE become a par� o��khe Indeb�edness and, a� Lend�r's �p#ion, wil� �Ay be payable on
<br /> demand; �B� be added to the balance ofi �he No�te and be apportioned among and be payable with any instalfinen�
<br /> payments to become due during e�ther �'t} the term v� any appli�able insuran�e poficy; ar. {�} �he remaining fierm of
<br /> the Note; or {C� be treated as a ballvvn payment which wil� be due and payable at�he No�e's ma�urity. The ❑eed of
<br /> Trust alsa will se�ure paymenfi ofi these amoun�s. Such right sha[[ be in addition t❑ a�l o�th�r rights and remedies ta
<br /> which Lender may be enti�led upon Defaul�.
<br /> WARRANTY; �EFENSE❑F TITLE. The follawing pr��isEans re�afiing fi�ownership v�the Proper�y are a part of this Deed
<br /> ❑f Trus�:
<br /> Ti�le. Trustvr war�ants that: �a� Trustor halds good and marke�able title of record ta the Property in fee s�mple,
<br /> free and cE�ar of all liens and encumbrances ❑ther�han �hose se� ��rth in the Real Pr�pe�ty description vr in any
<br /> title insurance policy, �itle rep�rt, vr finai title opinion issued in fa�or of, and ac�epted by, Lender in connectian
<br /> with this Deed af Trus�, and �b}Trusto�has the full righ�, power, and authvri�y�to execute and de�iver this aeed ❑f •
<br /> Trust to Lender.
<br /> ' Defense of T��le. Subject tv the ex�ep�ion in the paragraph abv�e, Trustor warran�s and will fore�er de�end th�
<br /> title ta�he Property against�he lawful c�aims vf all persons. �n fihe eWent any ac�ion or pro�eeding Fs commenced
<br /> that questions Trus�vr's ti�le or�he interest a�Trusfiee or Lender und�r this aeed o�Trust, Trus�or shall de#end the
<br /> action at Trusfivr's expense. Trustvr may be the nomina[ par�y in such �roceeding, bu� Lender shaE[ be entitled to
<br /> participate En the proceeding and to be represented in �he praceeding by counsel a� Lender's nwn cho�ce, and
<br /> Trustar will deli�er, or cause�a be deli�ered,ta Lender su�h ins�ruments as Lender may requ�st from time tv fiime
<br /> to permit su�h participa�ian.
<br /> Campliance W�th Laws. Trustor warrants �hat �he Proper�ty and Trustor's use ❑� the Prvperty �ampiies with all
<br /> exis�in� appfi�ahle laws, ardinanc�s, and regufatians o�go��rnmenta! au�hvrities.
<br /> 5urvi�al vf Representativns and 1JVarranties. All representations, warranties, and agreements made by Trustar in
<br /> this Deed ❑f Trust shall sur�i�e the exe�u�ivn and deli�ery❑fi this Deed vf Trust� shall be continuing in nature, and
<br /> shall remain in full fvr�e and eff�ct until such�time as Trus�vr's Indebtedness shall be paid in full.
<br /> CDNDEMNATIDN. The following prvvisions relating fi❑condemnatian proceedings are a part❑f this Deed❑f Trust:
<br /> Proceed�ngs. I�F' any p�-aceeding En candemnation is filed, Trus�or shall promptly natify Lender in wri�ing, and
<br /> Trustor shall prvmp�ly take such s�eps as may be necessary to de�end the ac�ivn and vbtain the award. Trustor
<br /> may be the nvminal party in such prvGeeding, but Lender shall be en�itled tv participate in�he prviceeding and t❑ be
<br /> represen�ed in the proceeding k�y �ounsel o� rts awn choice, and Trus�vr will deii�er or cause to be deliWered ta
<br /> Lender such instrumen�s and documen�a�ian as may be request�d by Lender �Fram time ta time ta permit such
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