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<br /> Z�15�5��5
<br /> DEED �F TRUST
<br /> {�ontinued� P�9� 3
<br /> hazard, business interruption, and bniler insurance, as Lender may reasanably require. Poiicies shall be written in
<br /> f�rm, amaunts, ca�erages end bs�sis �easnn�hly ac�eptah�e tv Lender and issued by a company ar campanies
<br /> reasonabiy accep#abl� tv Lender. Trustar� upvn reques# af Lender, will deli�er ta Lend�r from time tv tima the
<br /> policies or�ertificates o#insurance in form satis�acta�y to Lender, including stipulations that c�uerages will not be
<br /> cancelled or diminished without at least thirty �3p� days prior written notice ta Lender. Each insurance pnlicy afso
<br /> shall inc�ude an endorsement praviding that coverag�in�a�or of Lender wil!not be impaired in any way by any ect,
<br /> omission ❑r defauit vf Trustor or any other person. Shfluld #he Reat Praperty be �ocated in an area designated by
<br /> the Adminis�ratar af the Fed�rai Emergen�y Managernent Agency as a specia! #load hazard �rea,Trus�ar agrees tv
<br /> nbtain and maintain Federal Flovd lnsurance, if a�ailabte, #vr the full unpa�d prrncipal balan�e�f th� loan and �ny
<br /> priar liens on the praperty securing the foan, up t❑ th� maximum policy iimits set under the Nati�nal Fl��d
<br /> lnsurance Program, or as otherwise r�quired by Lender, and�o maintain such insurance for the terrn of the la�n.
<br /> ►4pplication v#Pracveds. Trustvr shafl promptly noti�Fy Lende�of any Ivss�r damage to the Pr�party. Lender may
<br /> rnake proof of toss if Trustor fa��s to do so within fifteen �i 5� days �f the casuaity. Whether or nvt Lender's
<br /> security is impaired, Lender may, at Lender's eiection, ra�ei�e and retain the praceeds of any insu�an�e�nd appiy
<br /> the prviceeds t� the redu�tion at the �ndebtedness, payrnent of anY iien aifec#ing the Pr�perty, or#he restarativn
<br /> and repair of the Prvperty. I�Lender elects to app�y the procegds to reat�rativn and repeir, Tru9tar shall repair vr
<br /> replace the darnaged ar destroyad Imprv�sments in a menner setisfac#ory #n Lender. Lender shall, up4n
<br /> satisfactnry prvvf o# su�h expend�ture� pay or reirnburse Trus�tor �rom the proceeds far the r�asonable c�st at
<br /> repair or restorativn �f Trustor is not in default under this Deed ❑f Trust. Any proceeds which ha�e not been
<br /> disbursed within 18�days after thsir receipt and which Lender has not committed tv#he repalr or rest�ratifln Qf
<br /> �he P�operty shall be used first to pay any amount❑wing to Lsnder under this ❑eed of Trust,then ta pay accrued
<br /> �nterest, and the remainder, if any, shal! be appfied to the prin�ipal ba�ance o#the ind�btedness. If Lender hvids
<br /> any proceeds after payment in full o# the lndebtedness, such proceeds shall be paid to Trustor a5 Trustor's
<br /> �ntsrgsts rnay appear.
<br /> Trustor's Repart on �nsurance. Upan request o#Lender, howe�er not more than once a year, Trustar shall#urnish
<br /> ta Lender a repart an aach existing pvficy of insurance shvwing; ��] the name at the insurer; ��f the risks
<br /> insured; �3� the amount of #he policy; �4f the property insured, the then current replacement �alue af such �
<br /> praperty, and the manner af determining that�alue; and (5f the expiration date af the pv�icy. Trustor shall, upan
<br /> request of Lender, h��e an independent appraiser satistactary to Lender d�termine the cash��lue replacement cost �
<br /> af the Property.
<br /> TAX AND lNSURANCE RESERVES. Suhject to any limit�tians and consistent with any requirements se# by �pplicable
<br /> law, Lender may require Trustor to meintain with Lend�r reserves for payment of annual taxes, assessmsnts, and
<br /> insuran�e pr�miums, which reser�es sha�� he created by an initial depvslt and subsequent monthly payments, or
<br /> payments at su�h❑ther inte�val as payments under the Note may b�due, v�a sum estima�d by Lender ta be suffici8nt
<br /> to pay the total annual �axes. assessrnents, and tnsurance premiurns Lender reasonably anticipates to be paid from
<br /> these rese�ves. The reser�e�unds shall be held hy Lender as a general depvsit frvm Trustor, which Lender may satlsfy �
<br /> by payment vf the taxes, assessments, and insurance prerniurns required to be paid hy Trust�r as they becvme due.
<br /> Lender shall ha�e �he right ta draw upon the reser�e funds to pay such items, and Lend�r shali not he required to
<br /> determine the �alidity vr accuracy of any item befvre paying It. N�thing in the Deed of Trust shal! be construed as
<br /> requiring Lender to advance ather manies far such purposes� and Lender sha�l not incur any liability far any#hing'r#may
<br /> do or amit to do with respect to #he rsser�e acc�unt. Subject to any limita�ivns set by appli�able law, if the reser�e
<br /> funds C�15CIU5e a shortage or de#iciency, Trustor shall pay such shortage or deficiency as required k�y Lender. All
<br /> amounts in the reser�e account are hsreby piedged ta further s��ure the indebtedness, and Lender is h�reby authorized
<br /> to withdraw and apply such amvunts�n the Indebtedness upvn the o�currence of�n EWent of Default. Lender shal�not
<br /> he required tv pay any interast ar earnings on the resenie funds unless requtred by lew �r agreed to by Lender in �
<br /> writing, Lender does not hvld the reser�e fun�s in trust for Trustvr, end Lender is not Trustor's egent for payment at
<br /> the taxes and assessments rsquired to be paid by Trustor. �
<br /> LENDER'S EXPEND�TlJRES. lf any action or praceeding is cammenced that wou�d materialiy�ffe�t Lender's intarest in
<br /> the Property or if Trusto�fails tv comply with any pro�ision af this ❑ead of Trust or any Releted Documents, includin�
<br /> but not limited ta Trustvr's failure to di��harge or pay when due any amvunts Trustar i� required t� discharge vr pey
<br /> under this Deed❑f Trus�vr any Re�ated Dacuments, Lender on Trustor's behalf may ��ut sha�l nvt be�bligated tof t�ke
<br /> any activn that Lender deems apprvpriate, including but not limited ta discharging or paying all taxes, fiens, securtty
<br /> interests, en�umbrances and ather cfaims,at any tEme le�i�d ar placed on the Property and payins a!!cas#s for insuring.
<br /> rnaintaining and presgr�ing the Property. Afl such expenditures incurred vr paid by Lendar for such purposes will then
<br /> hear interest at the rate charged under the Note frvm the date incurred or paid by Lender to the dete af repayment by
<br /> Trustor. All su�h expenses will hecome a part af the lndehtedness and. at Lender's aptinn. will �A� be payable on
<br /> demand; �By be added to the balance of the IVote and be apportioned �mon� and be payable with any installment
<br /> payments tfl becorne due during either ��f the term af any applicable insurance policy; or �Z� the remaining term of
<br /> the Note; or {C� b�tre�ted as a balloon payment which will he due and payabis at the Note`s maturity. Thg Deed af
<br /> Trust alsv will sscure payment of these amaunts. 5uch right shell be in a�ldi#ivn to al! other ri8hts and remed�es to
<br /> which Lender may he entitlet�upan�efault.
<br /> WARRANTY: DEFENSE DF TlTLE. Thg fvllvwing prv�isians relating ta owne�ship o#the Property are a part ot this De�d
<br /> of Trust:
<br /> Title. Trustvr warrants that: Raf Trustor holds g�od and marketable title af re��rd to the Prope in fee sim le
<br /> free and clear af afl liens and ancumbran�es other than th�se set#orth in the Rea! P►a � p �
<br /> perty descriptian ar in any
<br /> titla insurance po�icy, titla report. or finai tEtte opinion issued in fa�ar �f, and accepted by� Lender in conne�tion
<br /> with this Deed vf Trust,and {hy Trustor has the fui�r�ght,power, and authority to execute and deli�er this Dsed o#
<br /> Trust ta Lender.
<br /> Defense fl�Trtle. 5ubject to the exception in the paragraph aba�e, Trustvr uvarrants and will fore�er defend the
<br /> title to the Praperty against the lawfu! claims af all persons. �n the e�ent any act�on�r proceeding is commenced
<br /> that questions Trustvr's title or the interest of Trustee or Lender under this Deed 4f Trust,Trustor sha�l defend ths
<br /> activn at Trustor's expense. Trustvr may he the nominal a
<br /> p rty in su�h proceeding, but Lender shall be entitled to
<br /> participate in the praceeding and to bs represented �n the proceeding hy c�unsel of Lender's awn chvice, and
<br /> Trustar will deli�er, flr cause to be deli�ered, tv Lender such instruments as Lander may request frvm time tv��me
<br /> ta permit such participetion. . ,
<br /> ��mplience With L�ws. Trustar warrants that the Praperty ar�d Trustor's use �f the Property cam iies wi#h all �
<br /> existing applicable 18ws,ordinan�es,and regulatians of go�ernmental autharities, p
<br /> 5ur�i�al of Representstivns �nd Warr�nties. A!! representatians, warranties, and agreements made by Trustor in
<br /> th�s Deed of Trust shalf sur�i�e the execution and deli�ery v#this Daed af Trust, shail be continuing in nature, and
<br /> shall remain in�ull force and effect unti�such time as Trustor's indeh#edness shall be paid in fui1.
<br /> CQNDENfNATIDN. The fo�towing prv�isions relating ta�andemnetion proceedings are a part a#this Dead vf Trust:
<br /> Proceedings. If any proceeding in candemnation is filed, Trustv� sha�� promptly natify Lender in writing■ and
<br /> Trustar shall promptly take such steps es may be nacessary to defend the activn and abtain the award. Trus#�r
<br /> may be the nominal party in su�h proceeding,but Lender shall be sntitled to part�c�pate En the�rviceeding and to be
<br /> represented in the praceed'+ng by cvunsel v� its own chQice, and Trustar will deli�er or cause to be de�E�ered to
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