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<br /> �EEQ �F `TRU�T
<br /> �o�n n��: oo�oo�o��� ��vntinu�d� Page �
<br /> replace the darna�ed or destroyed Impro�emen�s in a manner satisfactary ta Lender. Lender shail, upon
<br /> satis�actor-y proof of sueh expenditure, pay or reimburse Trustor fram �he proceeds fo�the reas�nable cost of
<br /> repair or restoration i� Trustor is no# in default under this Deed of Trust. Any praceed� wh�ch ha�e no� been
<br /> disbursed wi�hin '�8�days after the�r receip� and which L�nder has not �ommitted ta the repair or res�oration of
<br /> the Proper�y shall be us�d f�rst to pay any amaunt❑wing�o Lende�-under�his Deed of Trus�,then to pay accrued
<br /> interest, and the rernainder, if any, shall be appli�d to the principal ba�ance o�the 1nd�btedness. ]f Lender holds
<br /> any proceeds after payment in full o� the Ind�btedness, such praceeds shall he paid t� T�us�or as Trustor's
<br /> interests rnay appear.
<br /> Trustor's Repork on Insurance. Upon request af Lender, howe�er not more than ance a year, Trustor sha��furnish
<br /> to Lender a �eport on each existing policy of insurance showing: (1} the name c�f the insurer; �2} �he risks
<br /> insured; (3} the amoun� af the policy; �4} the proper�y insured, the then current replacernent �alue of such
<br /> � prape�ty,and the mann�r a�det�rmining that�alue; and �5} �he expirat�on date of the policy. Trustor sh�l�, upan
<br /> request af Lender, ha�e an independen#appraissr satisfactory�o�ender determine�he cash�alue rsplacem�nt cost
<br /> o�the Pr�per�y.
<br /> LENDER'S E�PENDITURES. i�any a�tion or proceeding is cammenced that wou�d mat�ria�ly affect Lender's interest in
<br /> the Property or if Trustor�a�ls to comply wi�h any provisian of this Deed o�Trust or any Related Documents, in�luding
<br /> but not limited to Trus�or's failure�o discharge or pay when due any amounts Trustar is required to discharge a�'pay
<br /> under�his❑eed af Trust or any Re�ated Docurnen�s, Lender on Trustor's behal-�may�but shall not be obliga�ed#�}take
<br /> any ac�ion that Lender deems apprapr�at�, includ'€ng bu# no� �imited �v dis�harging or paying al1 �axes, liens, securi�y
<br /> interests, encumbrances and athe�claims,a�any��me levied or placed❑n the Proper�y and paying all costs for insuring, �
<br /> ma�ntaining and preserving the Property. Al! such expenditures incurred or paid by Lender fflr such purposes wi[! th�n
<br /> bear interest at the rate charged under the Not�frorn fhe date �ncurred or paid by Lender to the da�e of repayrnent by
<br /> Trustor. AI! such expenses will become � part vf the lndebtedness and, afi Lender's option, wil� �A) be payable on .
<br /> demand; �B) b� added t� th� balance ❑f th� Note and be appo�tEoned amang and be payable with any ins�allment
<br /> paym�n�s to becorne due during either (`I} the term o�any applicable insuranc� policy; or �2} the remaining term a�
<br /> the No�e; or �C} be treated as a balloan payrnent wh�ch will be due and payable at the Note's maturity. The Deed af
<br /> Trus# aiso wil� secure payment o�'thes� arnaunfs. Such right shall be in a�di#ion to all a�her rights and remedies to
<br /> wh��h Lender may be en#itied upon Default.
<br /> WARRANTY; DEFENSE OF TITLE, The fallawing pro�isions relating tv ownership of�he Proper�y are a part af this Deed
<br /> af Trust:
<br /> Title. Trustor warran#s�hat: �a} Trusto�hoids gavd and marke#abie�itle of record ta the P�operty �n fee sirnple,
<br /> free and clear❑f all iiens and encumbranees o�her�han th��e se�forth in the Real Proper�y descrip�ian ar in any
<br /> title [nsurance poli�y, �i�le r�po�#, or�inal titl� opinion issued in �a�ar of, and acc�pted lay, Lender in connect�an
<br /> wi�h this❑eed of Trust,and �h}Trustor has the full right,pawer, and authority to execu#e and d�li�er this Deed v�
<br /> Trus#�o Lender.
<br /> Defense of Title. Suhject ta the �xcep�ian in the paragraph abo�e, Trustor warrants and vvill fvre�er defend the
<br /> titl�to#he Propetty against the �awful claims of al! persorts. In the���nt any acti�n ar pro�eeding is comrnenced
<br /> tha#questions Trustor's tit�e or the in�erest af Trus�ee or Lender under�his C]eed of Trust,Trustar sha�l defend the
<br /> ac#ian a�Trustar's expense. Trustar may be th� n�mina� par�y in s«ch praceeding, but Lender shall be entitl�d to
<br /> par�ic�pate €n the praceeding and to be represented in the pro�eeding by counsel vf Lender's awn choice, and
<br /> Trus�or will deliver,or cause to be de�i�ered,ta Len�er such instruments as Lender rnay request�rarn time to time
<br /> to permit such participation.
<br /> Comp�iance V11ith Laws. Trust�r vuarrants that the Properky and Trus#vr`s use of the Praper�y comp�ies wi#h a��
<br /> existing applicabie laws,ordinances,and r�gulations of go�ernmen�al autharities.
<br /> � Surviva� nf R�pr�sentations and Warranties. All represenfa�ions, warranti�s, and agreements made hy Trustor in
<br /> this Deed af Trust shai[survi�e the execution and deii�ery af this Deed vf Trus#, sha�l be con�tinuing in nature,and
<br /> shall remain in ful�force and ef�ect untii such�ime as Trustor's Indebtedness shall be paid�n full.
<br /> G4NDEMNATIQN. The folfowing pro�isions refat�ng�o candemnation proceedings ar�a part of this❑eed af Trust:
<br /> Proceedings. If any prviceeding in condemnat�c�n is filed, Trustor shal� pramptly notify �ender in writing, and
<br /> Trustor shal� promptly take such s�eps as may be necessary ta defend th� ac#i�n and ❑b�a�n th�award. Trus�or
<br /> may be the nominal pa�ty in such p�o�e�ding, but L�nder shall be enti�led to par��cipate�n the proce�ding an�to be
<br /> represented in the p�'aceeding by counse! of its awn chaice, and Trustor wil� dei��er or cause to be d��ivered �o
<br /> Lender such ins�rumen#s and documen#a�ion as may be request�d by �ende� frorn tim� to time t� permit such
<br /> parti�ipation.
<br /> � App�ication ��Ne�Proceeds. i�a!I❑r any par�of fhe Proper�y is condemned by eminent domain pro��edings ar by
<br /> any proceeding or purchase in lieu of candemnation, Lender may at its e��ctivn�equire that ail or any portion o�th�
<br /> net praceeds o�the award be app�ied to �he lnd�bt�dn�ss c�r the repair or restorati�n Qt the Properky. The net
<br /> praceeds of#he avvard shall mean�he award after payment�f a�l reasonable casts, expenses, and atto�neys`fPes
<br /> in�ur�ed by Trust�e or Lender in connection with the condemnation.
<br /> 13ViP�51TiaN pF TAXES, FEES AND CHAR�ES BY GaVERNMENTAL ALJTH�RiT�ES. The fo�lawing pro�isians relat�ng
<br /> to go�ernmental taxes,�f�es and charges are a part af th�s❑eed a�Trust:
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