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<br /> �]EE[� DF T�U�T
<br /> �Cant[nu��� Page 3
<br /> �he proceeds ta the reduc�ion of th� indebtedness, payrnent❑f any [i�n a�Fectin� �he Property, or the restoration
<br /> and repair of the Propet�y. [f Lender e�ec�s ta apply�he proceeds t❑restoration and��pair: �rustor sha�l repair ar
<br /> r�place the damaged ar destroyed lrnpmuemen�s in a r�anner sa�fisfactory t� Lender. L�nder shall, upon
<br /> satisfactory proof o� such expend��u�-e, pay or reimburse Trus�or fr�m the proceeds fo� the reasonab[e �ast ❑f
<br /> rep��r or restvra�ian i� Trusi�r is nat �n defaul� under this Deed e�f Trust. Any Rroceeds which ha�e nat been
<br /> disbursed vv�'�hin '0�� days after�heir receip� and wh�ch Lender has n��cvrnr�€tted �v the repair❑r r�s�vrativn �f
<br /> �he Prvpe�.y shall be used first�a pay any amount owing to Lender under this De�d❑�Trus�,then ta pay accru�d
<br /> interest, and the r�mainder, if any, shall �e applied to the principa� balan�e of the �ndebtedness. lf Lender ho�ds
<br /> any pr�oceeds after payment in �ull �f the Indebtedness, su�h proceeds shall be paid to Trustor a� Trus�vr's
<br /> in�eres�s rnay appear.
<br /> Trus�or's R�part on Insurance. Up�n request vf Lender, hvwever no�more than vnce a year,Tru�tor sha!!�urni�h
<br /> ka Lender a report on each existing policy of insuranc� shvwing: �1} the name v�the insurer; ��} the risks
<br /> insured; �3} the amoun� vf the poiicy; �4} fihe property insured, the then curren� replacemen� value of such
<br /> prap�rty, and�he manner vf determining that�alue;and �5} the expirati4n date�f the poficy. Trustar shaH�, upon
<br /> request vf Lender,ha�e an independent appraise�sa�isfa��ory�v Lender d�terrnine the cash�alue replacemenfi cost
<br /> of th e Property.
<br /> LENDER'S E�CRENDITURES. [f any action ar proceeding i�comm�noEd tha�waul�i rnaterially a�fe�t Lende�'s interesf in
<br /> �he Property❑r i�Trustor fai�s to camply with any pra�isivn vf thiS �ed af Trust vr any Re)at�d�]��um�n�s, in��uding
<br /> but nvt limited to Trustor's fa�lure�o dis�harge or pay wh�n due any amounts Tnastar is required�o discharg�ar�pay
<br /> under this Deed of Trust ar any Related Da�uments,Lender on T�'ustor's behalf may�but sha�� not 1oe obligated to}take
<br /> any ac�ion tha� Lender�eems appra�riate, inciuding but not limited to �ischarging or paying a�l taxes, liens, securiijr
<br /> inferests, �nGumbrances and other c[aims,at any time le�i�d or placed on�he Property and paying all cosfs�or insuring,
<br /> maintaining and.preserving the Property. AII su�h exp�nditures�ncurred or paid by Lender far such purpases w�ll then
<br /> bear�n�erest at the rate Gha�ged under the Note�ram the da�e incurred or paid by Lender to�he date af repayment by
<br /> Trus�or. A[[ such expenses will becorne a parf of the End�b�edness and, a� Lende�'s op�ian, w��l [A} be payable pn
<br /> demand; {B� be added#o fhe balanc� of the Note and be apportianeci amnng and be payable with any instalimen�
<br /> payments to I�ecome due duri ng either �'�} �he i�erm af any appl icable insuran�pa�i cy; or �2} the remaini ng term of
<br /> the Note; ar �C} ae trea�ed as a bal�oon payment whi�h wi[I be du�and payable at�he�lote's maturity. T�e Deed af
<br /> Trust also will secure paymen� af these amounts. 5uch ri�ht sha�� be in addi�ion t� all other ri�hts and remedies to
<br /> which Lender rnay he enti��ed upon Default.
<br /> WAR�.ANTY; DEFENSE OF TlTLE. The fo�iowing pro�isivns relating tQ nwnership of the Pr�perty a�-�a part v�this D�ed
<br /> of Trus�:
<br /> T�tle. Trustar warrants that: �a}Trustvr hvlds goad ar�d marketable �itle vf�ec�rd to the Property in fee sirnp�e,
<br /> �ree and clear of alI liens and encumbranc�s o�he��han thvse set forth in the Rea� �r�per-ty descr9p�ion or in any
<br /> �itl� insurance pa�icyP ti��e report, or final titl� �pinion issued in �avor o�, and aceepted by, Lender in �onnectivn
<br /> with this Deed of Trus�,and �b}Trustar has the fu��righ�,power,and authority�o exe�ute and de�iver�his�]eed af
<br /> TruS�ta L�nde�.
<br /> Defens� o�T��le, Subject t� the exception in the paragraph aaove, Trusto�warrants and will �ore�er defend the
<br /> titfe�o'�he Praperty against the lawfu� clairns af afl persans. in the��en�any acti�n or praceeding is cvrnmenced
<br /> that ques�ions Trus�ar's tEt�e or�he inter�st of Trustee Qr Lender under this Deed of Trust,Trustar shall de�end the
<br /> action a#Tr-ustar's expense. Trustvr may�e the nominal party in such prviceeding, but Lender shal� be entitled �o
<br /> partiGipate in the pro�eed€ng and to be represen�ed in the proceeding by caunsel o� Lender's awn cha��e; and
<br /> Trustor will de�iver,or cause to b�de[i�ered,to Lender such instruments as Lender may request frorn tirne tv time
<br /> to p�rmit�uch participation.
<br /> Compliance �11i#h Laws, Trustor warrants that the Property and Trustor's use af the Prvperky cvmpjies wi�h all
<br /> �xi��ing applicable�aws,ordinances, and regulat�ons��go�ernmental aufiho�i�ies.
<br /> SurvivaC of Representa�ivns and Warranties. AEI r�presentat�ans, warranties, and ag�-��men�s made by Trustor�n
<br /> this Dee�of Trus�shall survive the executian and deli�ery af this Deed of Trust,shall be�ontinuing in nature, and
<br /> shall remain in full force and effect until such�irne as Trustor's Indeb�edness shal(be paid in�ull.
<br /> G�NdEMNAT1aN. Th�follawing pra��sians re�a�ing�o �ondemnation pro�eedings are a part of this Deed afi Trus#:
<br /> prv�eedings. lf any prnce�ding in candemna�i4n is f€�ed, Trust�r sha�� prompt�y notify Lender in writEng, and
<br /> Trustar shall pramptly taks such steps as may be ner.essary ta def�nd the actian and o�tain�he award. Trustor
<br /> may be the nominaf party�n su�h pro�eedin�, but Lend�r shall be en���led�o par�i�ipa�e in tl��praceeding and�o be
<br /> representad in the pr�o�eedin� by caunsel o�i�� own choioe, and Tru��or wil� deli�er or�aus��a be deli�ared to
<br /> Lende� such instr�ments and documentation as may be requested by Lende�~from time to tirne to permif suGh
<br /> parti�ipativn.
<br /> Applica�ion o#Net Prviceeds. If all ar any part o�the Property is condemned by eminent doma�n proGeedings or�ay
<br /> any praceeding or purchase�n lieu af candemnation, Lend�r may at i�s el�cti�n require that al�or any partion of�he
<br /> net proceeds of�he award be applied to the indeb�edn�ss ar th� repair ar res��ratian of�he Property_ The net
<br /> proceeds❑f the award shall mean�f�e award af�er payment of all reasnnabl�c�sts, expenses, and a�korney�`fe�s
<br /> incurred by�"rus�ee or L,ender in c�nn�c�ian w�th�he condet�nati�n.
<br /> IMPa51Tl��! 4F TAX�S, FEES AND CHAl�GES BY GQllERN�I!lE�iTAL AL9TH4R�TlE�, The fa��owing pro�isions reIating
<br /> ta gv�emmen�al taxes,��es and charges are a part af this�eed of T�ust_
<br /> �urrent'Taaces, Fees and Charg�s. Upon requesl by Lender, ��ustar shall �x�cute such dacuments in addi�on tv
<br /> this De�d vf Trus�and take whatever ather a�tion is reques�ed hy Lender ta pe�-fect and cant�nue Lender's lien an
<br /> the Real Prvperty. Trustor sha�t reimburse Lender�or af! taxes, as described below, togeth�r with al� expenses
<br /> incurred in recQrdin�, perfe�ting a� continuing this Deed Qf Trusfi, �ncluding with�u# �im�tatian all taxes, fees,
<br /> documentary stamps,and other charges far r�carding or registering this�eed of Trust_
<br /> Taxes. The fo�lowing shall consti�ute taxes �a which this sect�on applies: �'�} a specific tax upan �hi� fype of
<br /> fleed of Trust vr upon all or any par�af the Indebtedness secured b��his C]ee�af Trust; (�� a specif€c tax on
<br /> Trus�or which T�-ustor�s author��ed❑r required to deduct from payments on the lndebtedness secured hy this type
<br /> ❑f i�eed❑f Trust; �3} a�ax on this type❑f�eed❑f Trust chargeabfe agains�the Lender❑r the halder of the Note;
<br /> �nd �4} a specific tax on all ar any partEan af the lndebtedness or on payments v�pr�ncipal and in�erest made by
<br /> T'ru s�ar.
<br /> Subsequen� Taxes, If any fiax to which this sectivn applies is enact�d subs�quent to the �at�af this D�eed af
<br /> Trust, this e�ent shal! have the same effect �s an E�ent af ❑efau�t, and �ender m�y ex�rcise any or all of �ts
<br /> a�ailable rernedies for an E�ent af Default as prvvided below unless Trustv� either ('�} pays the �ax before i�
<br /> ��oomes de�inquent,or �2} con�ests the�ax as pravided al�ove in the Ta�es and Liens sec�€Qn and deposits wi�h
<br /> Lender cash or a su�ficien#corporate surety b�nd ar�ther security sa�isfactary tv Lende�.
<br /> SE�LlR1TY A�REEIVjENT; F�NANCIN� STATEMENTS. The fallowing pro�isians relating to this D�ed vf Trust as a
<br /> security agree�nent are a pa�t vf#his deed�f Trust:
<br /> Security Agreement. This �ns�rument shalf constitut� a Security Agreement tv the exten� any a� fhe P��perty
<br /> constitutes f�tures, and Lender shal� ha�e a[I af�he rights��a secured party under th�Unifvrm Cammer�ial Cvde
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