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Z�15�5351
<br /> ��E[� �F TRUST°
<br /> ���n$d���C�� Page �
<br /> T'ru st.
<br /> Maintenanc� of lnsurance. Trus�4r shall pracure and rnain�ain palicies ❑f fire insurance with standa�d extended
<br /> ca�erage endorsemen�s�n a replacement basis for the fu[f insu�rab[e�alue�overing afl Imp��vements on the Real
<br /> Praperty in an amaunt suff;cient�o a�oid appii��ti�n of any coinsurance c�ause, and wi�h a standard rnartgage�
<br /> c[ause in fa�ar❑f Lender. Trustar shall a�so procure and maintain camprehensiWe general liability insurance in such
<br /> caverage amounts as Lender may request wi�h Trus�e� and Lender heing narned as �dds�ional inSureds in su�h
<br /> liability insurance po�icies. Additivnaliy, Trustor shall main�ain such o�he�-insurance, including �ut no� limited tv
<br /> hazard, business interruption, and bailer insurance, as Lender may r�asnnably require. Palicies shall be written in
<br /> farm, arnaun�s, coverages and basis reasonab�y acceptal�[e to Lender and issued by a campany ar �ompanies
<br /> reasonably a�ceptable t� Lend�r. Trustor, upon request of Lender, wil� de[i�er ta Lender fr�m tirne ta �ime the
<br /> p�licies�r Ge�tifica�es ofi insurance in�arm satis�actary to Lender, inc[uding stipulat�ons that cv�erages wi�l no�be
<br /> cance�led or diminished withaut at feas��hir�y t30}days pr�nr written notice to L�nder. EaGh insurance palicy also
<br /> shall�nclude an endorsemen�pr��iding that ca�erage in fa�or of Lender will not be impaired�n any way by any act,
<br /> ❑mission❑r default�f Trustar ar any ather person. Shoufd the Real Prape�y be located in an area designated by
<br /> the Administrator of the Feder�al Emergen�y Management Ag�ncy as a specia�flood ha�ard area, Trus�or agrees to
<br /> ab�ain an� rnaintain Federaf Flaad Insuran�e, if available, fo�'the fu[f unpaid prir�cipal balance v�the IQan �nd any
<br /> prior liens an the prvperty s�curing the lvan, up �o �he maximum p�f�cy [imits set under the Nationaf Flvad
<br /> lnsurance Program,ar as o�herwise required by Lender,and to maintain such insurance for the t�rm af�he Iaan.
<br /> Appli�afion o�P�-�ceeds. Trustar shall pramptly natify Lend�r of any Ivss ar damage tv the Praperty. Lender may
<br /> make prvvf of loss if Trustor fai�s to d❑ �o within fifte�n ��f 5} days ❑f the casualty. UVhether or not L.ender°s
<br /> security is impaired, L�nder may, at Lender's electian, reGei�e and retain�he proceeds❑fi any insurance and apply
<br /> �he pra��eds to the reduction o�the indehtedness, payment af any lien af�ecting the Property, ar�h� res�oration
<br /> and r-epair vf#he Property. !�Lende�elects tv apply the proceeds tv res�or�a�ian and repair,Trustvr sha�1 repair or
<br /> replace the darnaged ar d�strvyed lmpravem�n�s in a manner sa�isfac�ary �v Lender. �ender shall, upon
<br /> satisfaetory provf vf such expenditure, pay ar reimburse Trustor from #he proceeds �or th� reasonable c��t of
<br /> repair ar restora�ivn if �rustor is nvt in de€au�t under fhis �eed af Trust. Any proceeds whi�h have r�a� �een
<br /> disbursed vvithin 1 SQ days af�er their�-ece�pt 2�nd which Lender has no� comrnitted ���he repair o�-res�aratian af
<br /> the IProperty shall be used firs��� pay any am�unt�wing to Lender under�his Deed�f Trust,then tn pay a�crued
<br /> interes�, and the r�mainder, if any, shall b�applied to the princi�al balanoe vf the lndebtedness. !f Lender hald�
<br /> any prviceeds after payr�ent in full a� the �ndebtedness, such proceeds shal! be paid to Trustar as Trus�or's
<br /> in�erests may appear.
<br /> Trustvr's Report on insurance. Upon request af Lender, hvwever no�mvre than once a year,Trusto�shall�urnish
<br /> tn Lend�r a report on �ach exis�ing policy of insurance showing: �'I} the narne vf the insurer; �2} the risks
<br /> insured; �3} the amount �f the pa�icy; {4� the �raperty insured, the �hen �urrent replacement �a�ue of such
<br /> property, ar�d the rnanner of determining that value;and t5} the expiratian date af the paliGy. Trustor shall, upon
<br /> request af L�nder, ha�e an independen�appraiser satisfactary�o Lender determine the�ash�alue replacement�ast
<br /> af the Pr�perty.
<br /> LENI]EF�'S EXPEN�tTURES. If any action or pro�eeding is commen�ed that would material�y a�fect Lende�s inte�est in
<br /> �he Praperty or if T�-us�or fails ta comply with any pro�ision of this l7eed of Trus�ar any Related Docurr�nts, in�lu�ing
<br /> bu�nof lim��ed�o Trustor's failure to discha�-ge or pay when due�ny amvunts T�usfar is required to discharge or pa�
<br /> under fhis Qeed of Trus�vr any Relafed Documen�s, Lender an Trusto�'s�ehalf may�but shall nat be ablig�led�o)�ake
<br /> any actian �hat Lend�r d�ems apprvpria�e, including but nat limited ta discharging vr paying a�l taxes, �iens, security
<br /> interests,encurnbrances and other��aims,a�any�ime�e�ied or p�aced on the Prvperty and paying alf costs for insuring,
<br /> maintaining and presen�ing the Property. AI1 su�h expendi�ures incurred ar paid by Lender far su�h purposes will�hen
<br /> bear inferest a�the rafie cha�-ged unde�th� h1o�e fram�he date incur�ed ar paid by Lender t�the date vf repaymen�by
<br /> Trustor. Al I such expenses wi 1{ become a par�of�he !ndebtedness and, at Lender's ap#ian, wi 1 I �A} b�paya��e an
<br /> demand; �B} be added#a the balance of the Note and be apportianed among and be payab�e with any ins�a[Irnent
<br /> payments to become due during�i�her �'�} the term af any applicabie insurance policy; ar (2} th�remaining�e�-m o�
<br /> the No�e, or �G} be trea�ed as a bal�oon payment which wilf �e due and payable a�the Note's ma�uri�y. Th�C7�d at
<br /> Trust alsa will secure paymer�rt of these amounts. �uch right shall be in additian to al� othe�rights �nd rem�dies tv
<br /> which Lender ma}r be entitled upon Defauit.
<br /> WARRANTY; DEFENSE DF'TrTLE. The fo��owing pra�isions reiating fo awn�rship af the Property are a pa�of�his Deed
<br /> vf Trust:
<br /> Tit[e. Trus�ar warrants tha�t: �a}Trustor halds gvod and marketahls t�tle v�rec�rd to the Prvperty in fiee simple,
<br /> free and clear vf all liens and en�umbran�es❑ther than those se�farth in�he R�al P�-operty��scrip�ivn or in any
<br /> �itle insurance pnlicy, #i�le repar�, or final title apinion issued in fa�vr af, and accepted by, Lender in connectian
<br /> with this��ed of Trust,and {b}Trust�r has�he fui�ri�h�, power,and au�hority to ex�cute and deli�er this�eed of
<br /> Trust tc�Lender.
<br /> Defense �f Title, Sub�ect to the excep�ian in the paragraph above, Trus�or warrants and will farever defend the
<br /> �i�le fo�he Property against�he fawfuf claims❑f al� persons. In the event any actian❑r proceeding is�vmrnen��d
<br /> that quest�ans Trustar's t�t1e or the in�erest o�Trus�ee or Lender under fihis Deed of Trus'�,Trustor shall defend the
<br /> ac�ion at Trustar's expense. Trust�r may be the namina� par�y �n such proceed�ng, �ut Lender shail be entit�ed to
<br /> �a�tic�pate �n the p�oceeding and to be represented in tr�e proceeding by counse[ of Lender's awn cho��e, and
<br /> Trustvr will del��er, or�ause tv b�defi�er�d,�o Lender Such insfiruments�s L�nder rnay reques�frvm #ime�o time
<br /> to perrnit such particip�tivn.
<br /> Camplianc� With Laws. Trustor warrants that the Praperty and Trusfar's use of the Property complie� with all
<br /> exis�ing appii�able laws,ordinanGes,and regulat�ons o�g�vernmental authorit�es.
<br /> Survi��l of Repres�nfa�ions and V�'arranties. A!� representations,warran�ies, and agreements made by T�'ustor in
<br /> this Deed of Trust sha11 sur�ive the execution and delivery af�his Qeed a�Trusfi, shall �e continuing in na�ur�, and
<br /> shall remain in fulk force and efiFect un�i�suGh time as Trusto�'s Indebtedness shall be pa�d in full.
<br /> C�NDEMNATI�N, The following prvWisi�ns relating to condemnation pro�eedings are a part of this D��d of Trust:
<br /> Proceedings. lf any prar.�eding in candemnativn is filed, Trustor sha�! promptly no�ify Lender in writing, and
<br /> Trus�or shall pramp�ly take such s�eps as may be neoessary ta defend the action and ot��ain the award. Trustvr
<br /> may be�he nominal party in such pr�ceeding,bu�Lender sha��b��nfit[e��o participate in�he proceeding and tv be
<br /> represerrted in the p�oceeding by counsal vf[ts vwn choice, and Trus�or will deliv�r or cause t� be deli�ered to
<br /> Lender such instrurn�nts and documen�a�€on as may be requested by Lender iram time�o �ime to permit such
<br /> part��ipa�ion.
<br /> Application af Ne� Pra�eeds. lfi all�t-any part of th�Prope�ty is condemned hy erninent domain proGeedings vr by
<br /> any proc�ding os�pur�hase in lieu a�condemnation,�end�r m�y at�ts�lec��on require that all�r any parti�n of the
<br /> ne� proceeds af the award be applied to th� lndebtedness ar�he repair�r res�oration of the Prvperty. The net
<br /> prv�eeds v��he award shal[mean the avti►ard afte�paymerrk o�ail �-easonab�e costs, �xpenses, and attarneys'fees
<br /> incurr�d b�Trustee or Lender in cannectiar��ith the cander�tna�son.
<br /> �i111P�51Y1�N �F T�ES, FEES►4N� �HARGES BV GC31�'ERNRIiENTA►L p►I�TH��tIT�ES. The following prv�isians relating
<br /> t❑ gavernmental�axes,fees and charges are a part mf�his ❑eed of l'rust:
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