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Z�15�5�33
<br /> DEE� �F TRUST
<br /> �Continu�d� P�ge 3
<br /> reasanab�y acceptable to Lender. Trustar, upon request vf Lender, wi[1 deliver ta Lender fr�m time to �irne the
<br /> pali�ies or cer�ificates❑�insurance in farm sat�s�actory to Lender,in�luding stipu�atians�hat co�erages wEll not be
<br /> rancefled o�dirninished virithout at least thirty�3Q} days priQr written na�ice to Lender. Each insuran�e poiicy aiso
<br /> shal[include an end�rsernent p�ovid'[ng that coverage in�aWor vfi L�nder wifl nat be impaired in any way by any ac#,
<br /> arnission or defaul�of Trustar vr any o�her person. Should the Reaf Property be �acated in an area designate� by
<br /> the Adrninistrator of the Federa] Emergency Managemen#Agency as a special f�aod ha�ard area,Tru��ar agrees ta
<br /> ohtain and main�ain Federal F�aod ]nsurance, i�a�ai�able, �or the�uff unpaid princEpal balanoe of th� loan and any
<br /> prior liens on the praper-�y se�uring the loan, up t❑ the maxirnum palicy limi#s set unde� �he Na#ivna� Flvvd
<br /> InsuranGe Program,❑r as❑therwise required by Lender,and to maintain su�h insurance�ar�he term of#he Ioan.
<br /> Application of praceeds. Trust�r sha�[promptly nvti�y Lender of any fvss or darnage ta�he Property. Lender may
<br /> make prvvf af lass if Trustvr fai�s �o da sa wifhin fif�een 4'�5} days of �he casua�ty. Whether❑r not Lenders
<br /> se�u�-i�y is impaired, Lender may, at Lender's e�ect�on, receive and refain the prviceeds o�any insurance and apply
<br /> the praceeds tv the redu�tian of the Endebtedness, payment of any fFen a�fecting the PraperEy, or the restorafinn
<br /> and repair vf�he Prnperty. ��Lender ef�c�s to appl��he pr�ceeds�� restaration and�`epair,Trustvr sh�ll repair flr
<br /> repiace the damaged or des�rayed Imprv�ernents 1n a man€�er sa��sfactory �a Lender. Lende�- shal9, upon
<br /> s�tisfac�vey prvo� af such expend�ture, pay vr reimburs� �'rustvr �ram �he proceeds for the reasonable �os$ of
<br /> repair ❑r res#ora�ian if Trus�ar 'rs not in default under thi� �3�ed ❑f T�us�. Any prv�eeds uvhich ha�e not been
<br /> disbursed wi�hin �8� days af�er their receipt and which Lender has nvt commit�ed �v �he repair❑r restaration of
<br /> the Prvperly shall be used first fn pay any amount owing to L�nder unde�-fhi�C]eed of Trust,�hen tv pay accrued
<br /> int�rest, and�h� remainder, if any, shal� �e applied#o �he pr[ncEpal ba[anee Qf the lndebtedness. 1f Lender holds
<br /> any prv�eeds after payment in fulf Qf the �ndela�edness, suGh pr�reeds shafl be p�id to Trusfo�- as Trust�r's
<br /> interests may appear.
<br /> Gampliance with Existing rndebtedness. During the perivd in which any Existing Intiebtedness described be�ow is
<br /> in effect, c�rnpliance w�th the insurance provisions contained in the ins�rumen� eviden�ing such Exis���g
<br /> lndebtedness shaff cans�itufe �ompfiance with the insurance pravisians under this C]eed vf Trust, tc� the extent
<br /> comp�ian�e with �he terms o�this Deed o�Trust would cvnstitute a duplicativn of insurance requirement. I€any
<br /> praoeeds frarn fh�insurance became payable vn ivss,th�provis�ons in�his Deed of Trust�For divisiQn ofi�rviceeds
<br /> shall apply an[y t❑that por�ion of the praceeds not payab�e�o the holder�f�he Exisfiing Indebtedness.
<br /> Trus�or's Repor�on Insuran��. Upon request af Lender, hvwever not mor��han vnce a year,Trustor shall furnish
<br /> ta Lender a repvrt an �ach exist�ng poficy af insurance showing: �'1} the name of�he insurer; (2� the risks
<br /> insured; (3} the amount o�the po�icy; ��7 the property insured, th� #hen �urren� repla�ement value af such
<br /> property, and the manner��det�rrnining�hat value;and �5� the expirativn dat� vf�he policy. Trustor shal�, upon
<br /> request vf Lender, have�n�ndependent appraiser sa�is�ac�vey ta Lender de�erm�ne the�ash�alue rep�aGement cast
<br /> of the Praperty.
<br /> LENC3ERr5 EXPEND�TURES. !f any action vr prviceeding is avmmenced fhat wou[d materia�l�affect Lender's interest in
<br /> th�Proper�y or i�Trus�or�ai[s ta comply v,ri�h any provision of th�s Deed a�Trust or any Rela�ed Documents, inciuding
<br /> hut nr�t�imi�ed t�Trustor's tai�ure to Gomply with any abligation�o maintain Existing lndebtedness in goad standing as
<br /> required b�l�w,or ta discharge or pay wh�n due an�amaun#s Trusfivr is required#o discharge or pay under this Deed o�
<br /> Trust or any R�lated Qo�uments, Lender vn Trustvr's behaff may (but sha11 not be obligated to}�ake any activn that
<br /> Lender deems appropriat�, �ncfuding but not �imited ta discharging Qr payEng afl taxes, liens, securi�y interests,
<br /> encumbrances and other �iaims, at any time le�ied ar placed vn the Praper-ty and pay�ng afl rvsts for insuring,
<br /> maintaining and pt�eserving the Prope�-�y. All su�h exp�nditu�-es incurred ar paid by Lender for such purpases will then
<br /> bear interest a�the ra�e charg�d under the �lote fram the date incurred or paid by Lender�a the date vf repayment by
<br /> Trustor. A!� su�h expenses►�vifl be�ome a par�o�the �ndehtedness and, a�Lende�'s option, wili �A} be pay�ble on
<br /> demand; �B} b�added�� the balanc� of the �lote and �e appartioned arnong and be paya�le with any insta[lm�nt
<br /> payments ta hecame due during�ither 41} �he term af any appli�able insurant�e policy, or �2} the rema€ning term of
<br /> the Nvte;or (C) be treated as a ballaon paymen�which wi I i be due and payable at the�lo�e's maturity. The Dee�i of
<br /> Trus�also will secure payment af�hese amounts. 5uch right shalf b� in addition fio alf othe�-rights and reme�iies to
<br /> which Lender may be en�it�ed upvn De�Fau1�.
<br /> �IVARi�AI�TY; DEFENSE�F TITLE. The follawing pro��sions reiafing to❑wnership of the Property are a p�rt af this 1Jeed
<br /> of Trust:
<br /> �'if��. Trustor wa�-rants tha�t: �a}Tn.is�or hvlds govd and marketable title ❑�record tv the Proper�in fee simp�e,
<br /> free and Glear af alI li�ns and enGumbrances❑ther than�hose set f��th in the Rea� Prope�-ty descript�or� or in �he
<br /> Existin� fndeb�edness se�tion befow or in any tit�e �nsurance pvlicy,title repvr-t,or final title opinion issued in fa�ar
<br /> ��, and accep�ed by, Lender in connec�ion with �his Deed of Trus�, and �b}Trustor has the �ulf �ight, power, and
<br /> authori�y t�exe�ute and def i�e�'this Deed of Trusf fo Lender.
<br /> Defense of Title, Subject to #he exception in #he paragraph abo�e, Trustor warrants and wifl fvr�ever defend the
<br /> � ti�le to the Prape►-�y against the law�ul c�a�ms of al� persons. In�he�vent any action ar proceeding is cammenced
<br /> that questions Trus�or`s�itle or�he interest afi Truste�or Lender under�his Deed of Trus�,Trustor sha��defend the
<br /> actian a�Trustor's expense. Trus�or may be the nominal party in such prQceeding, but Lender shai� �e�n�itEed to
<br /> partiGipate in �he proceeding and to be represented in the praceeding hy caunsel �� Lender's vwn chai�e, and
<br /> Trustor wil� deli�er, or cause fio be defi�ered,ta Lender such�nstruments as Lender may request fram time to tirne
<br /> to permit such participation.
<br /> Gvrnpliance Vtilith Laws, Trustar warran�s tha� �he Praperty and Trustor`s use a�the Praperty eomplies with af!
<br /> exis'�ing app[�cable laws, ordinances,and regulatians❑f gv�emmental authori#�es.
<br /> Sunri�al vf Representations and Warran�ies. All rep�esenta�Eflns,warranfies, and agreements rnade by Tru�tor in
<br /> this De�d of T�ust shall�urvi�e the execution and delivery vf�his Deed af Trust,shall be continuing in nature, and
<br /> sha�l rema�n in full fvrce and effect un�i[such�ime as Trustvr's lndebtedness sha�l be paid in fu�l.
<br /> EXISTING�N�EB�E�?NESS. The fv��owing prvvisians canG�rning Exis�ing In�ebtedness are a parf vf this Deed af Trust:
<br /> Existing L�en. The lien o� �h is De�d Q� Trust securing the Indebtedness may b� se�ondary and infer�or �o an
<br /> existing lien. Trustor expressly Co��nants and agrees�o pay, vr see to the payment af, the Existing Indehtedness
<br /> and to preven�any de�auG�on sUch indebtedness,any defauft under�he instruments eviden�ing such indebtedn�ss,
<br /> ar any defau�t under an�secu�ity documents for such indebtedn�ss.
<br /> N� Modificafiivn. Trustor shalf no� enter €nt� any ag�eement with �he holder❑f any mo�tgage, deed of trust, flr
<br /> ❑ther s�curifiy agreernent whi�h has priority o�er �his Deed of Trust by wh��h �hat agreement is madified,
<br /> amended, extended, or renewed withaut the priar wr�tten �onsent o� Lender. Tn.rsta� shal� neither request nflr
<br /> a�cept any fiuture ad�an�es under any such security agreement w�thvu#the prior wri�ten consen�of Lender.
<br /> C�NDEi1JIN�eTr�Ne The�allvwing pravisions relating to condernnation pro�eedings are a part v�fhis Deed o�Trust:
<br /> l�r�ce��ir�gs. !� any proceedin� in condemnatior� i� filec�, Trustor �haEl promptly nvti�y Lender in ►nrriting, and
<br /> Tn.�sfiar shall promptly take such steps �s�y be rr��essary�o defend�he actian an�abfa�r��he award. Trtts�ar
<br /> may be the r�vmi�a�party in such prooeec�ing, bv��.ender shal�be en�itled��particip�te in th�pr-�Geedin�anr�to be
<br /> �-epresen�ed in�he prac�eding by e�vuns�l o�i�s vwr� ch�ice, and Tn.�star will de�i�e�vr�aus�ta be de��vered to
<br /> Lender such onstruments and do�vr�en�a�ian as may be requested by Lender from time ta time�o permit su�h
<br /> participatiane
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