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Z�15��955
<br /> DEED []F TRUST
<br /> ���ntin ued j Pa�e 3
<br /> caverage amaun�s as Lender may request w��h Trustee and Lende� he�ng named as addi�ivna� �nsureds in such
<br /> liability insuran�e poli�ies. Additionally. Trustor shall rnaintain such o�her insurance, including but n�t limited to
<br /> hazard, business int�rrupt�vn, and bo�ler insurance, as Lende� may reasvnably require. Policies shail �e written in
<br /> �arm, amvunts, co�erages and basis reasonably acceptable to Lender and issued by a cvmpany �r companies
<br /> reasanably a��eptable tv Lend�r. Trustar, upon request vf Lender. wilf defiver t� L-ender from #ime tv tirne the
<br /> policies nr certificates v� insurance in form satisfactory tv Lsnd�r. in�luding stipulativns that coverages will not be
<br /> �ancelled or diminished without a�least thirty �3D� days prior written notice ta Lender. Each insurance�a��cy also
<br /> shall incfude an endorsem�nt pro�iding that ca�erage in fa�ar afi L�nder will not b� impaired �n any way by any ac�C,
<br /> omission or defauft af Trustor or any ❑ther pers�n. Should �th� Real Prvp�r�y be l�cat�d in an area designated by
<br /> th� Administrator❑f th� Fed�ral Emergen�y Management Agency as a special flovd ha�ard area,Trustvr agrees to
<br /> obtain and maintain F�d�ral F[v�d lnsuran�e, i�a�ailab�e, fvr the full unpaid prin�ipal b�ian�e a�the loan and any
<br /> privr liens �n the p�vperty securing the loan, up tv the maximum policy iimits se� under the Nat�ana! Flood
<br /> lnsurance Prvgrarn, or as vtherwis�required by Lender, and ta maintain su�h insuran�e��r the term o'�th�foan.
<br /> Appii�ation of Prv�eeds. Trustar shall promptly notify Lender a�any lass ❑r damage tv the Prape�ty. Lender may
<br /> rnake pr�of af Ivss i� Trustvr fails �o do sa within fifteen {15y days ofi the casualty. Whether vr nat Lender's
<br /> secur�ty is impaired. Lender may, at Lender's efe�tivn, recei�e and retain th� proceeds af any insurance and apply
<br /> the proc�eds to the reduc#ion af the �ndebtedness, payment o# any �ien a#fecting the Prvperty, or�he restoration
<br /> and repair ofi th� Property. If Lender elects to appiy the pro�eeds t❑ restoratian and repair, Trustvr shall repair vr
<br /> r�place the damaged or destroyed Impro�ements in a manner satisfiactory ta Lender. Lender shaif, upvn
<br /> sa�isfactory prvvf o# such expenditur�, pay or reimburse Trustar �ram �he proceeds �or the reasanable cos� o�
<br /> repair vr restvra�ivn i# Trustar is not in default under this Deed of Trust. Any praceeds whi�h ha�e nvt been
<br /> d�sbu�sed wi�hin 18� days aft�r their receipt and which Lender has nat committed �o th� repair ar r�storation of
<br /> the Property shall b� used first to pay any amaunt vv+ring to L�n��r under this Deed af Trust, �hen to pay accrued
<br /> interest, and the r�maind�r, if any, shall be applied t❑ the principal balance of th� Cndebtedness. lf Lender hvlds
<br /> any pr�c�eds a�ter paymen# in full of the lndebtedness, such proceeds shall be paid to Trustar as Trust�r's
<br /> interes�s may appear.
<br /> Trustor's Repvr�nn Insuran�g. �pan request of Lender, howe�er not mor� than vnce a year, Trust�r shall furnish
<br /> �❑ L�nder a report on each exis�ing palicy of insuranGe showing: t 1� the name ❑f the insurer; ��J the risks
<br /> insured; [3y �h� amvunt o�F �he pali�y; �4y the praperty insured, th� then current repla�ement �alue of such
<br /> prvperty, and the manner of determining�ha��aiue; and =�� the expiration date of�h�palicy. Trustor sha[f, upon
<br /> reques�o�Lender, ha�e an independent appraiser satisfa�tory to Lender determine the cash�alue replacement�vst
<br /> of the Praperty.
<br /> TAJ�AND iNSURAN�E FtESERVES. Subject to any limitatians and cansistent with any requirements set by applicable
<br /> law, Lender may require Trustar t❑ main#a�n ►►vith Lend�r reser�es fiar paymen� af annuai �axes. assessments, and
<br /> insu�ance pr�miums, vuhich r�ser�es shall be cr�ated by an initial depvsit and suhs�quent mvnthly payments, ar
<br /> paymen�s a�such other inter�al as payments under the Nv�e may be due,of a sum estimated by Lender to be sufficient
<br /> to pay the to�al annua� taxes, assessments, and insuran�e premiums L�nder reasonably anticipa�es t❑ be paid fram
<br /> these reserves. The reser�e�unds shall be held by Lender as a generai d�pasit�ram Trustor, whi�h Lender may satisfy
<br /> by payment of the taxes, assessments, and insuranc� prerniums required ta be paid by Trust�r as they become due�
<br /> Lender sha!! have the right ta draw upon the res�r�e funds to pay such items, and Lender shalf nvt be required ta
<br /> de�ermine the �alidity or accu�acy of any item befor� paying �t. Nathing in the aeed a� Trust shall be construed as
<br /> requiring Lender to ad�ance other monies for su�h purpases, and Lender shall nat incur any liability far anything Et may
<br /> do or omit to da with respect ta th� ��ser�e account. Subject to any fimitations se�t by applicable iatirv, if�he reser�e
<br /> �unds disclose a �hortage or deficiency, Trustor shall pay su�h sh�rtag� ❑r defi�ien�y as required by Lender. A�l
<br /> am�unts in th�reserve accaunt are hereby pledged to further secure the lndel�tedness, and Lender is hereby autharized
<br /> ta withdra►nr and apply such amaunts on the Indebtedness upon the o��urrence flf an E�ent o�Default. Lender shall nvt
<br /> he required t� pay any interest ar earnings on �the r�ser�e funds unless required by law or agreed tv by Lend�r in
<br /> writing. Lender does na�hv�d the rese��a funds in trus�f�r Trustvr, and Lender is no�Trustor's a�en�#or paym�nt o�
<br /> the taxes and assessments required tv be paid by Trustvr.
<br /> LENDER'S EXPENDITURES, ]f any a�tion❑r proceed�ng �s commenced that►►vould materially a�fect Lend�r's interest in
<br /> the Proper�y or i�Trustor fails ta c�mply with any pro�isian af this Deed of Trust or any Related �vcuments. in�luding
<br /> but nat limited ta Trustor"s fai�ur�tv dischar�e ar pay when due any amaunfis Trus�or is required to discharge ar pay
<br /> under this D��d af Trus�t❑r any Rela�ed Dacuments, Lender ❑n Trustvr's behalf may �hut shall nQt be�bligated tfly �ake
<br /> any a��iQn that Lender deems appropr�ate, in�iuding �ut not limited �a discharging ar payir�g aii taxes, liens, security
<br /> in�erests,encumbrances and v�her cia�ms, at any time�e�ied or placed on the Property and paying all casts fvr insuring,
<br /> maintaining and preser�ing the Prvperty. A11 such expenditures incurred �r paid by L�nder far such purpases will #hen
<br /> hear interest at the rate charged under the IVote frvm the date in�urred vr paid by Lender to the date ❑f repayment by
<br /> Trustor. All such expenses will became a part vf the Indebtedness and, at Lender's optian, v►rif! �A] be payahl� ❑n
<br /> demand; �B� be added to the balance vf the N�t� and f�e apportianed among and be payahl� with any installment
<br /> payments to became due during e�ther t 1} the term of any applicabke insu�ance pvlicy; or ��� the remaining term of
<br /> the Note; or �C� be treated as a hallvon payment whi�h wi[L be due and payahle at the Note's maturity. The Deed �f
<br /> Trust also ►nrili secure payment of these amounts. Such right shall be in addition t� ali �ther rights and remedies to
<br /> which Lender may be entitled upvn�efault.
<br /> WARRANTY:DEFENSE[3F T�TLE. The follvv►ring pra�isions relating tv ownership vf the Proper�y are a part�f this❑eed
<br /> vf Trus�:
<br /> Title. Trustar warran�s thafi: (af Trustor hvlds goad and marketable ti�le of recvrd �o;th� Prvper�y in �ree simpl�,
<br /> free and clear of a�l liens and �ncumbrances ofiher than those set fvrth in th� R�al Prqperty des�ription vr in any
<br /> �itle insurance policy, ti�le r�pvrt, or final title vpinian issued in fa�or vf. and accepted by, Lender in connectian
<br /> with this ❑eed of Trust,and 4b�Trustor has�he full righ#, pawer. and autharity to execute and deli�er this Deed�f
<br /> Trust to Lender.
<br /> D�fense of Titfe. Sufaje�t �o the exc�ptian in the paragraph abv�e, T�ustor warrants and wil� fore�er defend the
<br /> #itle ta the Prvperty against the lawfui ciaims af a11 persons. I n the e�ent any action or proceeding is �ommenced
<br /> that questivns Trustvr's title or the�nterest of Trustee or Lender under th�s ❑eed af Trust,Trust�r shall de�end�he
<br /> ac#ivn at Trustor's expense. Trusfiar may be the naminai party in su�h proceeding, but Lende�shail be entitled to
<br /> participate �n the praceeding and to he represented in �he praceeding by �vunsef of: Lender's vwn �hoice, and
<br /> Trustar Uvill deliver, or cause�o be de�i�ered, tv Lender such instruments as Lender may r�quest from time to time
<br /> t❑p�rmit such parti�ipation,
<br /> Compliance 1Nith Laws. Trustor warrants that the Property and TrustQr's use of the Praperty c�mplies w�th all
<br /> exist�ng applicak�le laws, ordinan�es, and regulat�ons of go�ernmental authorities.
<br /> Sur►►ival af R�presentat�ons and Warranti�s. All representations, warran�ies, and agreements made by T�ustor in
<br /> #his ae�d o�Trust shail sur�iWe the execution and del+�ery❑f�his Deed ofi Trust, shall be continuing in nature, and
<br /> shall remain�n#u�i farce and eff�ct until such�ime as Trustvr"s Indebtedness shall be paid in�ull.
<br /> C�NDEIVINATI�N. The f�llowing prov�sions relating tv condemnatian pro�eedings are a part af�his Deed of Trus�:
<br /> Praceedings. f� any prviceeding in condemna#ion is fif�d, Trustvr shall promptly natity Lender in wri�ing, and
<br /> Trustar shall promptfy take su�h steps as may be necessary to defend the a�tion and obtain the award. Trustar
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