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Z�15�531�
<br /> DEED �F T�LlST
<br /> tContinue�f Pa�e 3
<br /> or assessments and shall authorize the apprapriate ga�ernmental affi�ial tv deli�er tv Lender at any time a written
<br /> statement af the taxes and assessments against the�'roperty.
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<br /> Natice o#�vnstructian. Trustar shall natify Lender a� l�ast fifte�n {�5y days before any wark is �ommenced, any
<br /> ser�ices are furnished. ar any materiais are supplied to the Praperty, if any mechanic's lien, materialmen's �ien. or
<br /> vther lien c�uld be asserted on a��ount af the wo�k, sar�ic�s, or materials. Trustor'wi�i upfln requsst �� Lender
<br /> �urnish to Lender ad�ance assurances satisfactory to Lender that Trustor can and wit� pay the cost of such �
<br /> impro�ernents.
<br /> PR�PERTY DAMAGE�NSURANCE. The fvllvwing provisivns re�ating t❑insuring the Property are a part of this Deed of
<br /> Trust.
<br /> Main#enanca af tnsurance. Trustor shall pracure and rnaintain pvliGies of fire insursnce with standard extended
<br /> co�erage endorsements on a replacement basis for the full insurable value co�ering a!! lmpro►►ernents on the Rea!
<br /> Prvperty �n an amount sufficient t� a�oid application of any cvinsuranca clause, and with a standard martgagee
<br /> clause in fa�or�f Lender. Trus#or shall alsa procure and maintain comprehensive genera[liabi�ity insurance in such
<br /> �overage amaunts as Lender may request with Trustee and Lend�r being named as addi#ional insureds in such '
<br /> iiability insu�ance policies. Additionally. Trustor shall ma�ntain such other insuran�e, including hux nnt limitgd to
<br /> hazard, business �nterruption, and bviler insurance, as Lsndsr may reasonably require. Policies shaif t�e written in f
<br /> forrn, amvunts. caverages and basis reasonably acceptable ta Lender and issued hy a company or cvmpanies
<br /> reasonab�y accsptable to Lender. Trustor, upon request �# Lender, will deli�er to Lender from time ta time the
<br /> policies ar certificates of insurance in torrn satistact�r�ta Lender, including s#ipulations that cn�erages wiil not be
<br /> can�elled ar diminished without at le�st th�rty �34y days privr written noti�e ta Lender, Each insurance pvlicy alsa
<br /> shall include�n endo�semant prv�iding that Go�erage in�a�ar of Lender will nat be'trnpeired tn any way by�ny act�
<br /> omissivn vr default of Trustvr vr any vther persvn. Should the Rea1 Property �e located in an area designat�d by
<br /> the Administrator a�the Federal Emergency Management Agency as a spe�ia�f�aod hazard are�, Trusto�agrees to
<br /> obtain and maintain Federal Fload Insurance, if a�ailabCe, withir� 45 days after notice is gi�en by Lender that the
<br /> Property�s�oca�ed in a spe�ia!flood ha�ard area,for the full unpaid principal balance of ths�oan and any prior lians
<br /> on the property securing the IQan. up to the maximum policy limits set under ths National Flood Insurance Progrem�
<br /> or as atherwise required by Lender, and to maintain such insurance fvr th�term a�ths laan.
<br /> App�icativn of Proceads. Trust�r sh�ll promptiy notffy Lender vf any tass vr damage to the Praperty. Lender may
<br /> make proaf of lass if Trusior fails to do so within fifteen �15) days of the casualxy. Whether ar nat L�nder's
<br /> security is impaired. Lender may, at Lender's election, recei�e and reta�n the proceeds af any insurance and apply
<br /> �he proceeds ta the reduction af�he lndebtedness, payment of any lien affect�ng the Property, vr the restaration
<br /> and repair❑f the Property. It Lender eiects to apply the proceeds#v restoration and repair, Trustor sha�i repair vr
<br /> repiace the dama�ed or destrayed imprv�ements in a manner satisfectory to Lender. Lendar shail� up�n .
<br /> satisfa�tary praof of such expend�ture. pay or reimhurse Trustar fram the proceeds for ths reasvnab�e cost of
<br /> repair ❑r rastoration if Trustar is nat in defau�t under this Deed af Trust. Any proceads whi�h ha�a nat been
<br /> dishursed within 18�days after their receipt and which L�nd�r has nvt cammitted to the repair ar restoration of
<br /> the Property shall be used first to pay any amount awing to Lender under this ❑eed of Trust� then to pay accrued
<br /> interest, and the rernainde�, if any, shall be applied to the principal baiance vf the fndebtedness. If Lender h��ds
<br /> any proceeds aftsr payment in fufi o# the Indebtedness� such pr�ceeds shali be paid to Trustar as Trustor's
<br /> interests may appear.
<br /> Trustor's Report on Insurance. LJpvn request of Lender, howe�er nat mare than once a year, Trustor shal[furnish
<br /> tv Lender a report on each existing policy af +nsurance showing: �1 y the name of the insurer; ��� the risks
<br /> insured: �3� the amaunt of the policy; �4f the praperty insu�ed, the then current reptaGement value of such
<br /> property, and th� manner of determining that�alue; and {5� the exp�ration date❑f the policy. Trustflr shall, upon ,
<br /> request vf Lender, ha�e an independent appraiser satisfactory to Lender dete�mine the cash�alue rep�acement�ast
<br /> of the Praperty.
<br /> LEIVDER'S E�CPENDITURES. lf any acti�n ar prviceeding is commenced that wvuld materiel�y af�ect Lender's interes#in �
<br /> the Praperty ar�f Trustor fails to cvmply with any pra�isivn o#this Deed of Trust or any Related ❑�cuments, inc�uding
<br /> but not limited tv Trustar's failure to discharge or pay whsn due any amaunts T�ustor is required to discharge or p�y
<br /> un�er th�s Deed of Trust ar any Related Documents. Lender❑n Trust�r"s��half may �but shall not be ob�igated tof take
<br /> any acti�n that Lender deems apprQpriat�. in�luding but r�vt limited tv d�s�heiging ❑r p�ying �l� taxes, liens, se�urity
<br /> interests,encumbrances and other claims.at eny time le�ied or placed on the Prvperty and paying all cvsts for insuring, '
<br /> maintaining and preser�ing the Property. Ali such expenditures incurred vr paid by Lender��r such purpases w�ll then
<br /> bear interest at the rate charged under ths Nate tram the date in�urred�r paid hy Lender to the date of repaym�nt by
<br /> Trustor, All such expenses will become a part af th� �ndabtedness and. at Lender's opti�n, witi �Af be paya#�le on
<br /> demand; (B} be added to the balance of the Note and be apportioned among and be payable vuith any tnst�llment
<br /> payments to become due durtng either �1� the terrn af any appli�able�nsursnce pv�icy; or �2) the rema+ning term o�
<br /> �he hlote; or �C) be treated as a ba��oon payment whi�h will he due and payah�e at the Note's meturity. The❑egd ❑f
<br /> Trust also wili secure payment of these �mounts. 5uch riaht shall be in additivn tv aii othsr ��ghts and remedies to
<br /> which Lender may he entitled upvn De�aul#.
<br /> 1NARRANTY;DEFENSE QF TITLE. The follawEng pra�isions relating to awnership of the Praperty are a part of this Qeed
<br /> af Trust:
<br /> Title. Trustar warrants that: �af Trustor holds good and marketable titte o�record ta the Prvperty in fes simple,
<br /> �rse and cleer of all lians and encumbrancas ather than those set�orth in the Reai Prvperty descrip#ion ar in any
<br /> title insurance policy, tltle repvrt, or final title apinian issuad �n ta►►or vf, and accepted by, Lender ln conngction
<br /> with this C]eed ot Trust.and �by Trustor has#he fuli right�pvwer,and authvrity to execu#e and delir►er this i�eed vf
<br /> Trust to Lender. ,
<br /> Dsfense of Title. Subje�t to the exception in th� paragraph abo�e� Trustor warrants and wil� fare�er defend the
<br /> title to the Pr�perty against the lawfu!claims of all persons. tn the e�ent any action❑r proceeding is commen�ed
<br /> that questians Trustvr's title❑r the interest o#Trustes or Lende�und�r this Deed a#Trust.Trustor shatl de#end the
<br /> action at Trustor's expense. Trustqr may be the nvminal party�in such prv�eeding. but Lender shall be entitled t❑
<br /> participate in the prviceeding and to be represented in the proce�ding by �vunsel vf Lender's own choice, �nd �
<br /> Trustvr will deli�er,flr cause to he deli�ered, to Lende�such�nstruments as Lender rnay request fram time ta time
<br /> to permit such participation, :
<br /> �ampliance With Laws. Trustor warrants that the Praperty ar�d Trustor's use af the Prvperty comp�ies with a��
<br /> existing applicable laws, ❑rdinances.and regulatians of go�ernmental authvrities.
<br /> Sur�ival of Representatians and Warrant�es. All repres�ntations. warranties. and agreements made by Trustar in
<br /> this Deed of Trust shell surviva the executivn and deli�ery❑f this Deed of Trust, shall be continuing in nature. and
<br /> shall remain in full force and effect untii such time as Trustor's�ndebtedness shall be paid in full.
<br /> CONDEMNATI�N. The fvllowing prv�isions re�ating to condemnation praceedings are a part af this Deed of Trust: '
<br /> Praceed�ngs, If any praceeding in condernnation is fiied, Trustvr shall prvmptl� no#ify Lender in wri�ing, and
<br /> Trustvr shali pramptty�ake such steps as may be necessary to d�fend the action and obtain the aw�rd. Trustor
<br /> may be the nominal party in su�h prviceeding, but L�nder shell be entitied to perticipate in the proceeding and to bs
<br /> rspresented in the proceed�ng by caunsel �f its own choice, and Trustar wii! deli►rer vr c�use ta be deli�ered to
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