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��15�5189
<br /> DEE� �F TRUST
<br /> Laan No; 10"I�88��7 {�v�lt�nued� P�ge 4
<br /> security is irnpaired, Lender rnay, at Lend�r's electE�n, recei�e and retain the proceeds afi any insurance and apply
<br /> the pr�ceeds to the reduction of�he Indeb�edn�ss, paymenfi af any {ien affec�ing the Praperty, or �he restvration
<br /> and r�pair�f�he Pr�perty. ff Lender elects to apply the praceeds to restora��on and repair, Trustar shall repair ar
<br /> repface the darnaged ar destroyed Impravements in a manner satisfactory to L�nd�r, L�nder shall, upon
<br /> satisfactory proof of such expenditure. pay or reimbu�se Trusfar frorn the pra�eeds far the reasonable cvst of
<br /> repair or restora�ion if Trustor is no� in de�ault under this Deed of Trust. Any proceeds which haWe nat been
<br /> disburs�d within �8a days after �heir rec�ipt and which Lender has not committed to the r�pair or rest�ration of
<br /> the Pr�perty shall be used first�� pay any amount ow�ng�a Lender under this Deed �f Trust, then to pay accrued
<br /> interest, and �he remainder, if any, shalE be applied t� the principal balance of the [ndebtedness, If Lend�r halds
<br /> any prac�eds af�er paymen� in ful[ �f th� [ndebt�dness, such pro�eeds shall be paid to Trustor as Trus�vr`s
<br /> interests may appear.
<br /> Campliance wi�h Exist�ng Indebtedness. During the period in which any Existing Indehtedn�ss dsscribed b�low is
<br /> in effect, compliance wi�h the insurance praUisivns contained in th� instrument e�idencing such Existing
<br /> Indek�t�dness shall canstitu�� �ompfiance with the insurance pro�isions under �his D�ed of Trus�, to �he �xtent
<br /> cornp�ianc� with the terms ❑f �his Deed of Trust wauld �anstitute a dup[ication of insurance r�quirement. If any
<br /> pra�eeds from fhe insurance become paya�l�c�n lass, �he provisions in this Deed af Trus�fa� d�vision❑�proc�eds
<br /> shall apply only to that p�rtian of the pr�ceeds not payable t❑the holder nf the Existing lndebtedness.
<br /> Trustar's Repor�on Insurancee Upan request❑f Lender, hawever n�t more than an�e a yea�, Trustor shall furnish
<br /> fia Lender a repvrt on each existing policy of insurar�ce shawing� ��y the name vf �he insurer; �2� the risl�s
<br /> insured; �3} the amount af the palicy; {�} the property �nsured, the then curr�nt repfacernent value vf su�h
<br /> property, and�he manner of determining that�alue; and �5y the expiration da�e of the policy. Trustor shall, upon
<br /> request af Lender, ha�e an�ndependent apprais�r satisfactvey to Lender determine the c�sh valu�replac�men�cos�
<br /> of the Praperty.
<br /> LENDER'S E�PEN�ITLIRES. If any action or proceeding is commenced that wou[d materially affect Lender's interes� in
<br /> the Property or if Trus�or fails�o comply vvith any pravision vf this Deed of Trust or any R�lated Documents, includin�
<br /> but not limited�o Trustvr's failure t❑ camply with any�b�igation �o maintain Existing lndebtedness in good standing as
<br /> re�uireci below, �r ta discharge or pay when due any amounts Trustor is required to discharge or pay under this Deed vf
<br /> Trust ar any f�elated Dvcuments, Lender on Trustor's behalf rnay �but shall nat be obligated to� take any activn that
<br /> Lsnder deems appr�priate, including but not limited to dis�harging or paying al� taxes, li�ns, security interests,
<br /> encurnbran�es and ather ��aims, at any time le�ied or placed on the Property and paying al[ cas�s �or insuring,
<br /> main�aining and preser��ng fhe Prop�rty. AIE su�h �xp�nditur�s in�urred or paid by Lender for such purposes vuill then
<br /> bear �nterest at the �ate charged under�he Note fram the dat� incurred or paid by L�nder t� the date of repaymenf by
<br /> Trustor. All su�h expenses wEll become a par� of th� �ndebtedness and, at Lender's aptian, will ��1y be payable on
<br /> dernand; �87 be added �o the balance of �he Note and be apportioned among and be �ayable w��h any installm�nt
<br /> p�yments to hecame due during either f 1� the term af any applicable insuranc� policy; �r {2� the r�mainEng term v�
<br /> �he Note; ar tCy be treated as a ballaon payment which will be�ue and payable at the Note's maturity. The Deed of
<br /> Trust also will secure payrnen� of these amounts. Such �ight shall be �n addition to afl other rights and �remedies to
<br /> vvhiGh Lender may be entitled upan Default.
<br /> 1lVARR�4NTY;❑EFENSE�F T1TLE. The f�[lowing pravisions rela��ng�o own�rship at the Pr�p�rty are a part af this Deed
<br /> af Trust:
<br /> Title. Trustor warrants that. �a� Trus�or holds ga�d and marketable title of record tv the Property in fee simple,
<br /> free and clear af all liens and encumbrances a�her than those set forth in the Real Propsrty descriptian or in the
<br /> Existing Indebtedn�ss se�tian below or in any tifile �nsurance policy, title repart, ❑r final title opinian issued in fa�or
<br /> af, and �c��pted by, L�nder in c�nnection wi�h this Deed vf Trust, and �b} Trustar has the full right, power, and
<br /> authority to execute and deii�er�his Deed af Trusfi ta Lender.
<br /> Defense vf Title. 5ubjec�t❑ �he exceptian in the paragraph above, Trus�or warrants and will forever defend the
<br /> titfe ta the Praperty against the lawful claims of a�l persons, ln the e�ent any action or proceeding is commen�ed
<br /> that questions Trustor's title or the in�erest a�Trustee vr Lender under this Deed of Trust,Trustor shall d�fend the
<br /> a�ti�n at Trustor's expense� Trustor may be fih� naminal party in su�h proce�ding, bu�Lender shall be enti�led to
<br /> participate ir� the proceeding and tv be represented in th� proceeding k�y ��unsel of L�nder's ❑wn chaice, and
<br /> Trustar will deli�er� ar cause to be deli�ered, to L�nder such instruments as Lender may request firom tirne ta�ime
<br /> to p�rmit su�h participation.
<br /> Compiiance Vlli�h Laws. Trust�r �rvarrants tha� �he Property and Trustor's use af the Pr�perty complies with all
<br /> existing applicabl�laws,c�rdinances, and regula�i�ns�f g��ernmenta�authori�ies.
<br /> Sur►ri�al af Representa�ivns and Warranties. A�I representativns, wat�ranties, and agreements mad� by Trustvr in
<br /> this �eed af Tt'ust shall survi�e the execution and delivery❑f this aee�l of Trust, shall be��n�inuing in nature, and
<br /> shafl rema;n in full force and effect until such�ime as�'rustor's Indebtedness shafl be paid in full.
<br /> EKISTING 1NDEBTEDNESS. The�following proWisions c�ncerning Existing indebtedness are a part af this �eed af Trust:
<br /> Existing Lign. The �ien of �his ❑eed of Trust securing th� Indebtedness rnay be se�ondary and inferior to an
<br /> existing lien. Trusfiar expressly���enants and agrees to pay, or see t❑ �he payment a�F. the Existing Indebtedness
<br /> and �o preWent any default on such indebtedness, any d�faul�under the �nstruments eWidencing such indebtedness,
<br /> or any�efault under any s��urity dacuments fvr su�h indebtedness.
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