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Z�15��53�
<br /> []EED C�F TRUST
<br /> �Go�1$�nued� Page 3
<br /> omissian or defaul�af Tru�tar ar any ather person. Sh�uld the Reaf Properky be located in an area designated by
<br /> �he Administr-ator of the Federal Emergency Manag�ment Ag�ncy as a special f�aod hazard area, Trustar agre�s tv
<br /> �b'�ain and maintain Federal Flavd Insurance, if aWailable, for the full unpaid prin�ipal balance of fhe foan and any
<br /> prior liens an the property se�uring the laan, up �a the rnaximum pal�cy limits set under the National F�oad
<br /> lnsurance Program,or as�therwise required by Lender,and ta ma�ntain such insu�ance�ar�he te�m af the lvan.
<br /> AppliGation af Proceeds. Trust�r shall prvmpt�y no#ify Lender a�any loss or damage��the Prop�rty. Lender rnay
<br /> make proof vfr loss if Trustor fails to da so with�n fifteen �153 days o��he casua[ty. Wheth�r or no� Lend�r's
<br /> se�urity is impaired, Lender may, at Lender's e�ec�ian, re�ei�e and re�ain the proceeds of any�nsurance and apply
<br /> �he pracee�s to �he reduGtian af�he fndebtedness, payrnent❑f any li�n afFect�n� the Property, vr�he res�ora�ion
<br /> and repair�f�he Praperty. If Lender elects�o app�y the proceeds to restora�€on and repair, Trustar shall repair ar
<br /> replace �he damaged ar destrvyed Impravements in a manner satisfac�vry �o Lender. Lender shall, upan
<br /> satis�actory praof v� such expendi�ure, pay vr re�rnburse T�us#ar �rom th� proceeds for the reasonable cvst o�
<br /> repa�r or res��ra�ian if Trustor is no� in de�au�t under this Deed of Trust, any proceeds which have not been
<br /> dis�ursed w��h in '�80 day�a�t�r their receipt and which Lender has nat cammitted tv �he repair or restora�ivn of
<br /> the Prvperty shali be used�irst to pay any amount owing to Lender under this Deed vf Trust,�hen tv pay accrued
<br /> interest, and the remainder, if any, sha�i t�e app�ied i❑ the principal balance ❑��he �ndeh#edness. I�Lender hvids
<br /> any proceeds after payrnen� in full o� the Ind�btedness, such prpceeds shall be paid ta Trustor as T[tlS�DC"`s
<br /> interests may appear. �
<br /> Trustvr"s Repart on lnsuranCe. Upon request of Ler►der, h�we�er not mare than on�e a year,Trustor shal[fiurnish
<br /> to Lender a repart on each existing policy of insurance showsng: ��} the name ❑f�he insurer; (�} �he risks
<br /> insured; �3} the amvunt af the policy; �4} th� praperty insured, the #hen current rep�acernent value of such
<br /> praperty, and the manne�-of det�rmining tha��alue;and ��} the expira�ion date af th��a�icy. Trustar shall, up�n
<br /> reques�of Lender, have an independent appraise�sa��s�ac�ary�o Lender determine�he cash�alue rep�acement cost
<br /> ��the Property.
<br /> LENDER'S E�CPENDlTl1RES. If any ac�ian or proceeding is ovmrnenGed that�ould materialEy a�fiect Lender's interest in
<br /> the Propert�or i�Trus�or faifs ta comply with any p�o�isian af this Qeed af Trus�or any Rela�ed Doc�uments, including
<br /> but not iirnited tv Trustor`s fatlure ta discharge or pay when due any amoun�s Trustar�s required to discharge nr pay
<br /> und��this aeed of Trust ar any Re�ated Dacuments, Lender on Trusto�'s behal�may��ut shall no�be obligated to}take
<br /> any ac�ion that Lender deems apprapriate, including but not lirnited to discharging ar paying all �axes, liens, se�urity
<br /> inte�es��, en�umbra��ces and o�her ciaims,at any��me levied c��p�ac�d�n the Property and paying all cvsts�or insuring,
<br /> maintaining and pres�rving fhe Property. All such expenditures incurred or paid by Lender fo�such purposes wii! then
<br /> bear interes�a�the rate charged under#he IVote�rom�he date incurred or paid by Lend�r to the date af�epayment by
<br /> Trustor. All such ��pens�s wi[I became a part vf the Indebtedness and, at Lender's optian, wi�l �A) be payab�e an
<br /> �emand; �B} be added to the �aianae v�the Note and �e appar�ioned among and be payable with any installment
<br /> payments to �ecome due during either �1} the term of any appl��abie insurance poli�y; ar (2} the remain€ng ter-m vf
<br /> the Nofie; or �C} be fireated as a balloan payment which wilf be due and payabie at�he Nvte's maturity. The Deed�f
<br /> Trust also wi11 secure payrnent af these amaunts. �uch right shall be in ac�dition to al� a�her rights and remedies ta
<br /> which Lend�r may be en���led upon De�aul�.
<br /> 'WARRANTY; DEFENSE OF TiTLE. Th�following p�ovisions relat�ng to ownership❑f�he Praperty are a part a�th�s ❑e�d
<br /> af Trust:
<br /> Title. Trustnr warran�s�hat: �a}Trustvr holds goad and marketabfe title of record �o the Property in fee simple,
<br /> free and �lear of ali liens and encumb�anc�s�ther than thase set fvrth �n the Real Praper�y descriptson ar in any
<br /> ti�1e insurance palicy, title r�port, or final title ❑pini�n issued in �a�ar of, and accep�ed b�, Lender in cvnnec�ion
<br /> w�th this De�d❑f TruSt,and �b)Trustor has the fiull right, power,and authority tv ex�cute and deli�er this Deed of
<br /> Trust#a Lend�r.
<br /> Defense of Ti�le. Subje�t to #he exception in the para�raph aba�e, Trustor warrants and will �ore�er defend �he
<br /> ti�le to the Property agains�the lawfui claims v�ail pers�ns. ln the e�ent any aetion or proceeding i�cammenced
<br /> that questi�ns Trustor's title or the int�res�of Truste�or Lender under this Deed❑f Trus�,Trustor shall d�fend the
<br /> action at T�-us�or's expense. Trustar may be�he nvminal party in su�h proceeding, but Lender shali be entitied t❑
<br /> participa'�e in #he proce�ding and to be represented in th� praceeding by cQunse� o� Lender's own choice, and
<br /> Trustor wi�l defi�er,or cause ta be deli�ere�,�o Lender such insfiruments as Lender may request frvm time to�ime
<br /> to p�rmi�such participativn.
<br /> Campliance With Laws. Trustar warran�s �hat the Prope�y and Trustor's use af the Property complies wrth ali
<br /> existing aRplicable laws,vrdinan�es,an�regu�atians of governmental authorities.
<br /> 5unriva[ of Representa#iQns and Warran�ies. All rep��sen�atic�ns, warran�ies, and agreemen�s made by Trustor�n
<br /> this Deed of Trus�shali sunri�e the execu�ian and de�i�ery af this�eed of Trust, shall b�cnntinu�ng in nature,and
<br /> shall remain in fu II farce and effec�unti I such�im�as Borrawer's !ndebtedness shall be p�id in fu 1I.
<br /> C�NDEIVINATlDN. The fvllowing pro�is�ons relating to condemnatian proceedings are a part of th€s De�d of Trust:
<br /> Praceedings. If an� prQceeding in condemnation is filed, Trustor shall promptly nofiify Lender in v+rriting, and
<br /> Trustor sha�� promptly take such steps as may be necessary to defend the ac�ian and❑b�ain the award_ Trustor
<br /> may be�h�nominal party�n su�h proceeding,but L�nder shall be entitl�d t�par�icipate in the p�ac�eding and to be
<br /> represent�d in the pro�eeding Iay r;ounsel a�its awn cha�ce, and Trustar will deliver vr cause t� be deli�er�d to
<br /> Lender such instruments and documentativn as may be requestcd by Lender�rom �ime �o time to permit such
<br /> parti�ipation_
<br /> Applicafian af Net Praceeds. !f al!vr any part af the Pr�perty is condemned by eminent domain pro�eed�ngs or by
<br /> any proceeding ar pu�-chase in Izeu o�cpndemnation, Lender may a��ts elec�ion require thai al�c�r any par�ion�f the
<br /> ne� proceeds of the award E��applied tv the Inde�edness or the repair or �estara�ian of�he Prvperty. T�e ne�
<br /> praceeds of�he award shall rr�an the award afker paymen�of ail reasonabie costs, expsnses,and attorneys'�ees
<br /> incurred�y Trustee or Lender in cannection with the candemnation.
<br /> 111�IPt�S�TIDIV 4F TAXES, FEES ANQ CHARGES BY GDVERNMIENTAL AUTHDRITtES. The follow�ng provisions relat�ng
<br /> fio gavernmental taxes,fees and charges are a part af this❑eed af Trust:
<br /> Current Taxes, Fees and Charges. Upon request by Lender, Truskor shall execute such �ocurnents in a�dition ta
<br /> th is Deed af T�'ust and�ake whatever o#her action is requested by Lender ta perf�c�and cantinue Lender's I�en on
<br /> the Real Prflperty. T�ustor shall reimbu�se Lender for �I� #axes, as described befow, t�geth�r with all �xpenses
<br /> incurred in recarding, perFe�ting ar continuing this De�d of Trust, inc�uding with�ut I€mitativn all �axes, fees,
<br /> d�cumentary stamps,and o#her charges f�r recarding or r�gistering this Deed❑f Trus�.
<br /> Taxes. The falfow�ng shall eonsti�ute taxes to which this s��tion a�plies: �1� a specifiG tax upon this typ� of
<br /> Deed of Trust or up�n all or any part of the Indebtedn�ss secured by this Deed of T�-ust; (2} a spec�fic tax nn
<br /> Barrower which Borrower is au#horized or required tv deduct#r�m paymen�s vn�he Indebtedness secured by�his
<br /> fype o�f❑eed❑f Trust; �3} a tax on this type af Deed vf Trust chargeable against th� Lender or�he holder��the
<br /> Nvt�; and �4} a speci�ic tax on all vr any partion af the Indeh�edness or on payments vf principal and in�erest
<br /> made by B�rraw�r.
<br /> Subsequent Taxes. !f any tax �o which this section applies is enacted subsequen�to the date vf this Qeed o�
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