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Z�15�535�
<br /> []EED �3F T�UST
<br /> �����inu[ed} Pa�� �
<br /> imprv�ements. �
<br /> PROPERTY De411JIA�E INSURANCE. The fallowing pra�isions re�a�ing tv insuring fhe Property are a part of thi� Deed of
<br /> Trust.
<br /> 11�laintenance af tnsurance, Trus�ar sha�l prv�ure and maintain poli�ies af�ire insurance with standard extended
<br /> �a�erage end�rsemen�s❑n a replacernen�basis far the full insurahle value Ga�ering al� Impro�ements❑n the Reaf
<br /> Prflperty in an amvunt suffi�ient'�o a�oid app�icat�on vf any cvinsurance clause, and with a standard mortgagee
<br /> clause in fa�or of Lender. Trustor shall a�sa pr�cure and maintain comprehensi�e general liabi�ity insurance in su�h
<br /> �o�erage am�unts as Lender may r�quest with Trustee and Lender being named a� additiona� insureds in such
<br /> i�ability insurance policies. Add�tionaliy, Trustor shall maintain SIJCh other insurance, in�luding but not limited to
<br /> ha�ard, business interruption, and boiler�nsuranc�, as Lender may reasonab�y require. Pvlicies shafl be wr�tten in
<br /> fvrrn, amounts, caverages and basis reasonab�y acceptable fo Lender an�! issued by a campany or cvmpanies `
<br /> reasanably acceptabl��a Lender. Trustor, upon request of Lender, will deli�er�a Lender from time �a #irne the
<br /> pvlicies or cer�ificates of insuran�e in farm satisfactory to Lender, including stipulati�ns tha�co�erages vvi�l no#be
<br /> cancelled or d�minish�d withaut at�east�hi�y(30} days pri�r written notice to Lender_ Each insuran�e po�icy a�sa
<br /> shall include an endorsement pro�iding that c�verage in fa�or vf Lender will nat be irnpaired in any way by any act,
<br /> ❑mission or default a�Trustar or any vther person. 5h�uld the Rea� Praperty be iaca�ed in an area designated by
<br /> the Adrnin�stratvr of the Federal Emergen�y Management Ag�n�y as a spe�ial flaod hazard area,Trustar-agrees to
<br /> abtain and maini�ain Fed�raf Flaod Insurance, if a�ailable, for fhe full unpaid prin��pal balance of�he foan and any
<br /> prior liens on the property securing the loan, up to the maximum p�licy limits se� under the Nat�anal F[ood
<br /> lnsurance Prvgram,or as❑therwise required by Lender,and ta maintain su�h insurance�vr the term�f the loan.
<br /> Appli�a�ion of Pro�eeds. Trus��r sha�� prvrnp#ly notify Lender❑f any Ivss or damage�o the Property. Lender may
<br /> rnake praof of loss i� Trus#ar fails to do sa within fi'�e�n �'15} days of�he casualty. Whether ar no� Lencler's
<br /> se�urity is impa��ed, Lender may, at Lender's election, r��ei��and r'etain the proceeds af any insurance and apply
<br /> the prviceeds to the redu�t�on af the Indebtedness, payment fl�any lien affe�ting the Property, or'�he restora�ion
<br /> and repair af�he Property. If Lender elects�❑ app�y the proceeds to restorat�on and repair, Trustor shall repair or
<br /> replace the damaged �r destrvyed lmprovements in a manner satis�a�tary ta Lender. Lender sha�l, up�n
<br /> sa�isfactory pro�f ❑f such expenditure, pay or reimburse Trustar from the pra�eeds fvr the reasanabie cost af
<br /> repair ar restoratian if Trus�or is nat �n defaul� under�his Deed of Trust. Any p�-o�eeds which ha�e nat been
<br /> disbursed within �18❑ days after their re�eipt and which Lender has nvt cnmmit�ed to the repair❑r restoratian ❑�
<br /> the Froperty shal{ be used first to pay any amoun�awing to Lender under�his Deed af Trust, lhen �o pay accrued
<br /> in�erest, and the remainder, if any, shai� be appiied ta the principal balance of�he lndebtedness. 9� Lender halds
<br /> any proceeds after payment in fu�� ❑f �he lndeb�edness, su�h proce�ds shall be paid t� Trustar as Trustflr`s
<br /> �nterests rnay appear.
<br /> Trustvr's R�pvr�vn lnsurance. Upon request❑�Lender, howe�er nat rnore than once a year,Trustar shall furnish
<br /> to Lender a report vn each exis�ing policy vf insuran�e sh�wing: ��} the name of the insurer; ��} �he risks
<br /> insu�-ed; �3} the arnount vf th� palicy; �4} the property insu�-ed, the �hen current rep�acement �alue af such
<br /> prvper#y, and the manner o�F determining fha��alue;and �5} #he expira'�ian date af the pa�i�y. Trustar shail, up�an
<br /> request of Lender,ha�e an independent appraiser sat�sfa��ory t❑ Lender deterrnine the r,ash�alue repIa�ern�nt cast
<br /> o�#he Property.
<br /> LENDER'S E�PEND�TURES. �f any acti�n�r proceeding is c.�mmenced that wauid materia�ly affect Lender's interesf in
<br /> the Property ar if Trustar fails�a comply with any pro�ision of this C3eed of Trust or any Relat�d Dacuments, inc�uding
<br /> but n�� limi�ed to Trustor's faiIure to discharge or pay when due any amounts Trustvr is requ�red�a discharge o� pay
<br /> under this�eed of Trust or any Related Docurnents, Lender on Trustor's behalf may�but shall not be abligated t�}�ake
<br /> any a�tion �hat Lend�r d�ems apprapriate, including bu� n�t �irnited �o dischargin� or paying all taxes, I�ens, security
<br /> �nterests,en�umbrances and o�her claims,at any time le�ied or piaced�n the Prvper�y and paying afl�osts for insuring,
<br /> main�aining and preserving�he Prvperty. All such expendi�ures incurred or paid by Lender for such purpvs�s w��l then
<br /> b�ar interest a�the rate charged under the Note from the date�ncurred or paid by Lender ta the date o�repayment by
<br /> Trustor. AII such expenses will became a part af the lnde�atedness and, at Lender's option, will �A} be payable on
<br /> demand; �B} 1�added to the balan�e vf the Na�e and be apportioned amang and be payab�e with any �nstallment
<br /> payments�o became due during ei�her ��I} the term af any applicable insurance policy; or �2} �he r�emaining term o�
<br /> �he Note; ar �C} �e�reated as a bal�oon paymenf which will be due and payab[e at the Note's matur�ty. The Deed of
<br /> Trust alsa w�Il secure payment �f these amoun�s. 5uch ri�ht shall be �n addition to aIl o�her r�ghts and remedies ta
<br /> which L�nder may be entitled upon Default.
<br /> VVAF�RANT'�; DEFEN5IE�F TlTLE. Th�fallowing prv�isions relating to ownersh�p of the Property are a part of�his ❑eed
<br /> of Trust:
<br /> Titie. Trustor warrants tha�� (a}Trustor holds good and ma�ketable title ❑f r�cord to the Praperky in fee simpie,
<br /> free and �[ear a�all I�ens and encumbran�es o�her than#hase set farth in the Real Property descrip�ian or in any
<br /> title insurance palicy, ti�Ie report, or fnal #it�e ❑pinfon issu�d in fa�or vf, and accept�d by, Lender in connection
<br /> with this Deed of Trust,and �b�Trus�or has�he full right, pvwer, and authori�y�v execu�e and deli�er this De�d of
<br /> Trust tv Lender.
<br /> ❑efense af T�tle. 5ubje�t tv the excep�ian in th� paragraph aba�e, Trustor warrants and wiil forever defend the
<br /> tit�e�o the Property against the lawfu I clairns of all persans. ln th�even�any action or p�oceeding is�arnmen�ed
<br /> that questians Trustor's titIe ar the interest a�Trus�ee flr Lender und�r�his Deed of Trust,Trustnr shaf�defend the
<br /> action at Trustor's expense. Trus�or may b��he nomina� party in such prviceeding, but Lender shall he�ntitled �v
<br /> partiGipate in th� praceeding and �o be r�presented in the proceeding hy caunsel af Lender's vwn chaice, and
<br /> Trustor will deli�er,❑r cause ta ��deli�ered,t❑ Lender su�h instruments as Lender may reques�fram time�o tirne
<br /> to permit such part�cipa�ion.
<br /> Cornptiance Wi�h Laws. T�-us�or warrants that the Prvperty and Trustor's use ❑f the Proper[y �vmplies with all
<br /> �xisting applicable laws, ord�nanGes,and�egulatians o�gv�ernmental au�horities.
<br /> Survi�al flf Representations and Warranties. A�� representations,warranties, and agreements made by Trustar in
<br /> this Deed v�Trust shall surv��e the executivn and deli�ery of this Deed of Trust,shall be con�inuing in na�ure, and
<br /> shall remain in full force and effect until such time as Borrower's Indeb�edness�ha��be paid in full.
<br /> C�NDE[i11N1�T1�N. The#allQwing pra�isions re[a�ing�o candemnation proceedfngs are a par�of�his ❑e�d of Trust:
<br /> Proceedings. lf any proceeding �n condemnat�on is f�ed, Trustor shaIl promptly notify Lender in writing, and
<br /> Trust�r shaii promptly�a�e such steps as may be necessary ta def�nd the action and obtain�he award. Trustor
<br /> may he�he nominal party in such proce�ding, but Lender shall be en�itled ta par�i�ipate in th�proce�ding and to be
<br /> represented in the proceeding by oaunsel of its awn choic,e, and Trustor will deliver ar cause tv be de�i�ered to
<br /> Lender such instruments and documentation as ma� be reques�ed by �ender�rom time �o time to permit such
<br /> partjcipation.
<br /> Application of Ne�Praceeds. lf all or any park of the Properky is condemned by eminent darnain proceedings or Iay
<br /> any pro�eeding or purchase in lieu af condernnatian,Lender may at its election require fihat a�l or any partion af�he
<br /> net proceeds ❑f the award be applied to the [ndeb�edness or the repair or restoration of the Properky. The net
<br /> �rooe�ds o�the award shall mean the award after payment of a�l reasonable�osts, expenses, and atlnrneys'fees
<br /> incurred by Trustee�r Lender�n cannection with the condemna�ion.
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