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��l 5�55� 1
<br /> ���� �F -��u�-r
<br /> ���Mt���ted� Pag� 3
<br /> lnsurance Prvgram,or as othenrvise required by Lender,and ta maintain such insurance�or the�errn of the[aan.
<br /> AppliGation of Rrace�ds. Trus�or shall prvmpt�y nvti�y Lender o�any foss or damage to the Property. Lender may
<br /> make prvof vf lass if Trustor fails �v do sv within f�f�een ���} days of�he casuat�y. VIlhether ar n�t Lender's
<br /> securi�y is impaired, Lender rnay, at Lender's electic�n, re�ei�e and r�tain the proc�ed�of any insuran�e and appiy
<br /> fhe praceeds to the reductivn ❑f the �ndebtedness, payment❑f any lien affecting the Property, or the restara�ion
<br /> and repair vf�he Praperty. if Lender efects to app[y the prv��eds tv res�aration and repair, Trustvr shall repair vr
<br /> repla�e the damaged ar destrvyed lm�ro��men�s in a manner sa�isfact�ry �a Lender. Lender shall, upvn
<br /> satisfactvey praaf Qf su�h expend��ure, pay ar reimburse Trus#or fram the prviceeds �or the reasvnabl� cast of
<br /> repair ar restvra�ion if T�us��r is n�t in default under �his i]eed a� Trus�_ Any praceeds which ha�� nvt been
<br /> d�sbursed within �180 days after�heir rece�pt and which Lender has n�t committe�i to the repair vr restvration of
<br /> �he Property shall be used first to pay any amvunt owing fo Lender under this Deed of Trust,th�n�a pay aacrued
<br /> interest, and the rema�nder, if any, shall b�applied�v �he principa[ balance o�the Inde�tedness. !f Lender ha[ds
<br /> any pro�eeds a�ter payr�ent in ful� o� the indeb�edness, such proceeds shafE be paid ta Tr'ustQr as �rustvrs
<br /> interes�s may appear.
<br /> Trus�vr's Repvr�vn Insurance. Upon request of Lender, hvw�ver not mvre than on�e a year,T�ustor shal]furnish
<br /> to Lender a rep�rt an each existing pa�icy ❑� in�uranGe showing: �'I} the name o��he insurer; ��� the risks
<br /> insured; �3J the amount of the policy; �4} the pr�perty insured, the �hen current rep�a�ement Va�ue a� su�h
<br /> property, and the rn�nner❑f de�errnining�hat�alue=and �5� the expiration date of the policy. TrustQr sha11, upon
<br /> reques#❑f Lender, ha�e an independent appraiser satisfactvey t� Lender determine the�ash�alue r�placement c�st
<br /> of the Property.
<br /> LENDER'S Ei�PENDlT�RES. if any actian or pr�c�edin�is c�mmenced that wvuld ma�erialfy affect Lender's inter�s�in
<br /> the PrQper�y�r if Trustor fails ta comply with any�ro��sion af this Deed o#Trust or any Re�a�ed �ncuments, including
<br /> but nc�t limi�ed to Trustor's faiiure�o disGharge❑r pay when due any amaunts Trustor i�requi�ed to discharge Qr pay
<br /> unr�er this D�ed af Trust or any FZelated Dacuments,Lender on Trustar's behaif may�but shall not be obligated ta}�ake
<br /> any action that Lender deems appropria�e, including bu� n�# [imited to discharging Qr p�ying all �a�ces, liens, security
<br /> in�erests,enGumbrances and ofher G[a�ms,a�any�ime levied or placed❑n the Property and paying all costs�or insuring,
<br /> rn�in#aining and presenring the Property. AII su�h expendi�u�es incurred ar p�id by Lend�r for such purposes wil� then
<br /> bear inter�est at�he rate charged under�he Na�e from the date i�curred or pai� by Lender to the da�e of repayra�ent by
<br /> Trusfior. A[� such expenses will becorr�a part of the Indebtedness and, at Lender's vption, wil9 �A} be payab�e on
<br /> demand; �B} be added�o the balance of the Nvte and �� �ppartivned among and be payalale wifh any insta�lmen�
<br /> payments to �ecome due during�i�her �'I} the terrn v�any appl3cable insuranae po�icy; or (2} the remain�n�te�m of
<br /> �he�loi�e;or �C} be�reated as a ballaon payment wh�ch wil[ �e due and payab[�at�he�iofe°s r�-7aturity. `rhe�]eed�f
<br /> Trust a[so wi�l secu�-e pa�ment of these amounts. Su�h righ�shafl be in �ddition #o alf o�her righ�s and ��medies ta
<br /> which Lender may�e entit�ed upon De�ault.
<br /> �ARRANT"r(; DEFENSE�F TITLE. The fallowing pro�isions re[a�ing to awnsrship of fhe Property are a par�of this Deed
<br /> o�Tru st:
<br /> T�tle. Trus�ar warran�s�that: �a}Tn.ast�r hvfds good and marketa�le ti�le vf recard t� the Prap�rty in fee simple,
<br /> fr�e and cfea�vf all liens and encumbran�es ather than those se�fvrth irt the i�eal �rvpet�y description or in any
<br /> title insurance policy, tit[e report, or final title opinion issued in favor of, and accep�ed by, Lender in cannec�i4n
<br /> with this []ee�i af Trus#,and (b}Trustor has the full r€ght, pvwer,and authvritjr to execute and deli�er�his Deed of
<br /> T�-ust�a Ler�der.
<br /> Defens� vf Title. Sub�ect t� the exception in the pa�-agraph ahvve, Trustar warran�s and wifl fare�er defend the
<br /> �itle�❑the Property against�he lawfu� claims vf all persans. �n the e�ent any action or proGeeding is�arnmenced
<br /> that questivns Trus#or's title or�h�intersst of Trustee vr Lender under this Deed vf�'rust,Trustor shall de�end the
<br /> actfan at Trustor's expense. Trustar may be the norninal party in such proceeding, bu� Lende�-shall be entitled ta
<br /> part€�ipate in �he proceeding and to be repres�nted in the praceeding by �vunsel ❑f Lender's awn chQice, and
<br /> Trustor will delive�, or cause t❑ be deli�ered,to Lender such instruments as Lender may reques�f�arn tirne ta time
<br /> to pe�'mit such par�i�'rpativn.
<br /> Campliance 11Vi�h Laws. Trustor vvarrants that�he Property and Trustor's use tif the Prape�y comp�ies w�th a�l
<br /> exis�ing app�icable laws�ardinan�es,and regu�a�ions o��o�er�nmental au�horities.
<br /> 5urvival of R�pres�ntations and V1Carrant�es. All representations, warranties, and agreemenfs made by Trustar in
<br /> this Deed vf Trust shall survi�e�he execu�ion and deli�ery vf this Deed af Trust,sha11 be can�inuing in nature,and
<br /> shall remain in full force and�ffec�unt��such��me as Trust�r's lndebfedne�s shaf�be paid in full.
<br /> C�NDE�VINAT�aN. The fallvwing prp�isians re[afing#o candemna�ion proceedings are a pa�t of this❑eed vf Trust:
<br /> Proceedings. If any prviceeding in condemnation is filed, Trustor shall promp�ly n�tify Lender in wri�ing, and
<br /> Trustor shall pramptly take such steps as may be necessary to defend�he actian and obtain the award. Trustor
<br /> may be the nominal parky�n such praceeding, but Lender shall he eni�itled to participate in�he prviceeding and�v be
<br /> r�present�d in�he proceeding hy counsel of i�s o►arvn chaice, and Trustor wi1[ deli�er ar cause�o b�deii�ered to
<br /> Lender such i nstruments and docu men�tation a� may k� reques�ed by Lenc�er frvrt� �i r�e�o ti me �� �errr�i�such
<br /> participa��on.
<br /> Applicat�on af Net Prviceeds. lf al{a�any pa�t af the Prape�ty is condemned by eminent�fomain pro�eedings��by
<br /> any proceeding ar purchase in�i�u vf o�ndemnati�n,Ler�der may a�i�s ele�tion requi�-e that al]or ar�y partion of�he
<br /> ne� praaeeds of the award ba appli�d�o the lndebtedness or�he repair or restoration of the Praperky. The net
<br /> p�oQeeds af th�award shall mean the award after payr�en�of a�9 �-�as�nahle�osts, �x�enses, and att�rneys'�ee�
<br /> incurr�d�y Trustee or Lend�r in car�ne�#�on vv�th the conde�na�i�n.
<br /> lMP{]SIT��N �F TAiCES, FEES AN❑ GWAI�GES gY G�VERI�MEN�"AL AU�H�R��IES. �he fvllowing pro�isivns refating
<br /> t�go�ernmental taxes,fees and charg�s are a part of thi�i]eed of Trust:
<br /> Current Taxes, Fees and Charges, Upon request by L�nd�r! �rusto�sha1C execute su�h do�urnents in additian ta
<br /> this C7eed of Trust and�ake whate�er ather a�tian is�equested by Lender to perfe�fi and continue Lender's lien on
<br /> the F�eal Praperiy. Trustar sha[E reirnbu�se Lender far all taxes, as described belaw, �ngether wi�h al� expenses
<br /> inGurred in �'ecv�ding, perfecting or c�ntinuing this Deed Df T�'u5t, in�fuding without �imitation al1 taxes, fees,
<br /> documentary starnps,and other charges€�r reca�ding❑r registering this De�d of Trust.
<br /> Taxes. The fallowing sha[E constitut� laxes �❑ which this �ectian applies: ��} a speci�ic tax upan this type of
<br /> Deed of Trust ❑r upvn a!I or any par� o�the Indebtedness secured by this �eed vf Trust; �2] a speGi�ic tax on
<br /> Trus�ar whi�h Trustor is authori��d ar required to deduct fram payments�n the lndebtedn�ss secured by this type
<br /> o�Deed of Trus#; ��} a tax an this type of Deed af Trust�hargeahle against#he Lender�r the h�lder�f the Note;
<br /> and �4} a specifi�tax on al[or any pflrtion of the lndebtedness or an paym�nts of principaf and interes� made by
<br /> Trusto�.
<br /> �ubsequen� Taxes, If �ny�ax t�vvh�ch �h�s s�ction appfies is �nacted suhsequer�t�o the date af�his []eed of
<br /> �rustY �his event shalf ha��th� same effec� as an �uen� �� ��fault, anc! Lencler may exerGise any c�r alf of i�s
<br /> a�ailable remedi�s �or an Euent a� C�efault as pro�ided belau� unsess Trus�or either �'i} pays the ta� before it
<br /> be�omes delinquen�, or t2} contests the ta�c as�r��ided abo�e�n the Taxes�nci�iens sect€v� and deposits with
<br /> �ende�-�ash ar a su'�icien�carpora�e sur�ty bond or oth�r securi�j►satisfactory�a Lender.
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