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��1 5�6�44
<br /> DEED �F TRUST
<br /> ��ant�nu�d} , Pa�e 3
<br /> ar assessments and shall autharize the appropriate gavernmental official tv deliver�a Lender at any t�me a written
<br /> statement of the taxes and assessments against the Prvperty.
<br /> N�#ice af Construct�on. �Trustor shall not+#y Lender a#least fifteen �15� days be#ore any work is cammenced,any
<br /> ser�ices are furnished, or any materials are supplied to the Prvperty, if any me�hanic's iisn, materialmen's tien, or
<br /> �ther lien cauld be asserted on acc�unt vf the work, ser�ices, ar materials. Trustvr will upQn request of Lender .
<br /> furnish to Lender ad�ance assurances satisfactory to Lender that Trustvr �an and wi�l pay the cost of such '
<br /> impro�ernents. • �
<br /> PRaPERTY DAMAGE 1NSURAN�E. The fvllawing prv�isians relating to insu�ing the Prvperty ar�a part of this Deed �f
<br /> Trust. . �
<br /> Ma�in#enanc� of Insurance. Trustar shall pracu�e and maintain pvli�i�s vf fire insurance wi#h standard extended
<br /> co�erage endorsements on a raplacsment basis for the futl insurabCe �alue cv�ering all Impro�ements on the Real
<br /> Praperty in an amount sufficient to a�vid app��cativn of any ca�nsu�ance clause, and with a standard mortgagee
<br /> c{ause in fa�or of Lender. Trustar shalt alsa prv�ure and maintain�amprehensive generel liability in5urance in such
<br /> co�erage amaunts as Lender may �equest with Trustee and Lender being named as additianal insureds in such
<br /> liahility insur�nce policies. Additionally, Trustor shalf maintain such other insurancef inc�uding but not limited tv •
<br /> hazard, business inter�uption, and bviler insurance. as Lender may reasonably require. Palicies sha�� h� written in
<br /> �orrn, amounts, cv�erages and basis reasonably acceptabls to Lender and �ssued by a �ompany ar companies
<br /> reasanably accep#abls to Lender. Trustor, upon request of Lender. will deli�er ta Lender from time to tirne�the
<br /> palicies or certificates af insurancs in form satisfa�tory to L�nder, including stipulations that�a��rages will not be
<br /> cancelled or d�minished wtthou�at least thir�y {3�f days prior written notice to Lender. Ea�h insurance po�icy alsv ' �
<br /> shall include an endorsement providing that ca�erage in#a�or�fi Lende�wi�t not be impaired in any way by any act,
<br /> omission or d�fauft of Trustar or any other persan. Should the Real Prvperty be lacated in an area dss�gnated by
<br /> the Admin�strator of the FederaE Emergency Management Agency as a specia�flflod ha�ard�rea,Trustor agrees tv
<br /> vbtain and maintain Federa� Flaod Insurance, if a�ailable, wrthin A�5 days after nvtice is gi�en by Lender that the
<br /> Praperty is lacated in a specia�f�oad hazard area,far the full unpaid prinGipal balance o�ths Ivan and any pri�r liens �.
<br /> on the prnperty securing the Ioan, up to the maximum policy limits set under the Natiana�F�oad Insurance Prog�am.
<br /> ar as atherwise�equired by Lender,and tv maintain such insurance far tha term vf the loan.
<br /> Applica#ian vf PraGBeds. Trustor shall prompt�y natify Lender v�any Ivss vr damage t❑the Property. Lender may
<br /> rnake proafi ❑f I�55 if Trustvr t�i�s tv da sa within fifteen ��5� days af the casual#y. Whe#her or n�t Lender's
<br /> se�urity is �mpa�red, Lender may. at Lender's electian, recei�e and retain the prviceeds of any insurance and apply
<br /> the proceeds �v the reduct�an af the indsbtedness� payrnent af any �ien affecting the Property, or the restorativn
<br /> and repair of the Property. If Lsnder elects ta appfy the praGeeds ta restoration and repair, Trustor shall repair or
<br /> replace the damaged or destr�yed lmpro�ements in a mannar satisfactary tv Lender. Lender sha�l, up4n
<br /> satisfactory p�oo# of su�h expenditure, pay vr r�imburse Trustor #ram the proceeds far #h� rsasvnable cost ❑f
<br /> repair ar restaration if Trustor is nvt in defautt under th�s Dsed of Trust. Any praceeds which ha�e not been
<br /> disbursed w�thin 18� days a�ter their re�eipt and which Lender has nat committsd to the repair vr restora#i�n vf
<br /> the Property shaii bg used first to pay any arnount owing ta Lender under this Deed a#Trust, then tv pay accrued
<br /> interest, and the remainder, if any, shall be applied to the princEpal balance of the lndebtedness. I# Lender holds
<br /> any prviceeds after payment in fu�1 ❑t the Indebtedness, such praceeds shall be paid to Trustor as Trustor`s
<br /> in#erests may appear.
<br /> Trustar's Report on Insurance. Upnn request a#Lender, hvwe�er nat m�re than vn�e a year.Trustar shall furnish
<br /> to Lender a report on each existing policy vf insurance shawing: t 1) the narne ot the insurer; {�y the risks
<br /> insured; t3l the amflunt of the policy; �4y the prope�ty insursd� the thsn current repla�ement �alue �f such :
<br /> property, and the manner of determining that value; an� t5f the expiration date of the pvlicy. Trustor shall, upan
<br /> request of L�nder,ha�e an independent appraiser satisfactory to Lender determine the cash�alue ceplacsrnent cvst
<br /> of the Property.
<br /> LENDER'S EXPENDITURES. If any action ar proceeding is comrnencad that would mate�ialiy affect Lsnder's in#erest in
<br /> #he Property or if Trus#�r�ails to comply with any pra�ision❑f th�s Deed of Trust or any Releted Documsnts. including
<br /> but not limited to Trustar's #ailure to discharge or pay when�ue any amounts Trustor is required ta discharge vr pay
<br /> under this C�eed af Trust ar any R�lated Dacuments, Lender❑n Trustar's baha�#may �hut shall not be obligated to�take
<br /> any action that Lender deems apprapriate� including but nat limited to dischargin9 ❑r paying all taxes, liens, sacurity �
<br /> interests,encumbrances and other claims,at any time I�vied or placed on the Property and paying all�osts far insuring, .
<br /> main�aining and preser�ing the Property. All such sxpenditures incu�red �r paid t�y Lender for su�h purpvses will then '
<br /> bear interest at the rate charged under the IVote from the date incurred or paid by Lender tv#he date vf repayment by
<br /> Trust�r. All such expenses wi�i become a part of the Ind�btedness snd, at Lender's �ption� wi11 �A� be payable on
<br /> demand; tB� be added tv the balanc� of the Nvte and b� appvrtianed among and be payable with any ins#allment
<br /> payments to becvme due during eithsr �1� the term af any applicable;nsurance pnli�y; or ��f the remaining term af •
<br /> the Note; or �C� be treated as a ballavn payment which will be due and payahle at th� Note's maturity. The Deed vf .
<br /> Trust als� wili secure payment o#these amounts. 5uch right shall be in addition to all other rights and remedies tv
<br /> which Lender may be entitled upan Default.
<br /> WARRANTY: DEFEIVSE�F TlTLE. The following pro�isions relating ta ownership❑f the Property are e part vf this Deed
<br /> ❑f Trust:
<br /> Tit1e. Trustor warrants that: [a� Trustor holds gvod and markatable title o� rscord to#he PropeMy in fee simple,
<br /> fre� and clear of all liens and encumbrances other than th�se set forth in the Real Property descriptian ar in any
<br /> title insurance pviicy, #itie report, or #inal title opinian issued in fa�ar of, and accgpted by. Lander in ��nne�tion �
<br /> with this Deed af Trust, and (b)Trustor has the full right,pvwer, and autharity t❑execute�nd del��er this Deed vf
<br /> Trust to Lender. ' �
<br /> Defense vf Title. Subject to the excepti�n in the paragraph abv�e, Trustor warrants and wil! fvre�er defand the
<br /> title to the PrapQrty against the iawful �lairns of all persans. in the e�ent any action or praceeding is commenced
<br /> that quest�ans Trustor's title ar the interest❑#Trustee vr Lender under this ❑eed af Trust, Trustor shall defend the
<br /> a�tion at Trustor's expanse. Trustor may be the nominal party �n such proceeding, but Lender shall be ent�tled to
<br /> participate in the prviceeding and t� hs represented in the prnceeding by cnunse� a# Lender's awn choice; snd
<br /> Trustor will deli�er� or cause to be deli�ered,ta Lender such instrumants as Lender may requsst from time to time
<br /> to permit such participation.
<br /> Gvmplian�e With Laws. Trustor warrants that the Prflperty and Trustar's use af the Praparty cvrnplies with all
<br /> existing app�icable laws.ar�inances, and regu�atians of ga�ernmental autharities.
<br /> Survi�al of Represent�tions and Warranties. All repr�senta�ians� warrantiss, and agreements mad� by Trusto�r in �
<br /> this Deed of Trust shall sun►i�e the executian and dest�ery of this Dee�of Trust, shal! he continuing in nature, snd
<br /> shall remain in fuli force and effect until such time as Trustor's�ndebtadness shall bB paid in full.
<br /> CQNaEIVINATI�N. The following pro�isiQns relating ta candemnation proce�dings are a part of this�eed Qf Trust:
<br /> Proceedings. If any procegding in c�ndsmnati�n is fifed, Trustar shall prompt�y nati#y Lender �n writing, �nd
<br /> Trustor shall p�vmptly take such steps as may be necessary to defend the action and vbtain the award. Tru$#ar
<br /> may be the nvminal party in such praceed�ng,hut Lender shal�be entitied to participate in the proceeding and to he '
<br /> represented in the proceeding by counsel of its awn �haice, and Trustor witl deli�ar �r cause to be de�i�ered to
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