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��l 5�641 1
<br /> �EEv �F ��us�r
<br /> �Cantinu�d} Pag� �
<br /> reasanab�y accep�able to Lender. Trustar, upon request a� Lender, rrvilf deliver ta Lender from time tv time the
<br /> palicies or certificates a�r insurance in forrn satisfactary to Lender,including stipula�ions fhat coverages wil� not be
<br /> canc�lfed or dirninished wi�hout at leasf thirty�3Q} days priar�ivritten natiGe ta Lender. Each�nsurance pol�cy also
<br /> shalf�nc[ude an endorsernent providing tha�co�erage in fa�or o�Lend�r�vil�nat be irnpaired in any way by any act,
<br /> ornission or defaul�a�Trusto�ar any other person. Should the Real Proper�y be laca�ed in an area designated by
<br /> the Adm�nistratar o�the Federal Emergency Management Agency as a spe�ial f�oad hazard area, Trustor agrees to
<br /> abta�n and maintain Federai Flood Insurance, i�a�ailable, �vr the�ull unpaid pr�ncipal balan�e o�the loan and any
<br /> privr liens on the prvperty securing the laan, up ta the maxirnurn policy �imits set under the Nationai Flood
<br /> Insurance Pro�ram,or as❑the�r�se required by Lender,and t�maintain su�h insuran�e for the te�m of the�oan.
<br /> Application vf�roceeds. Trus�or sha[I promp�ly notify Lender of any foss or damage ta�he Property. Lender may
<br /> make proof afi I�ss if Trustor fails to do sa within fi�#een �'t 5} days vf�he casua�ty. Whether or no� Lender's
<br /> security is impafred, Lender may, a�Lender's electic�n, rece'r�e and retain�he praceeds of any insurance and apply
<br /> the proce�ds tv the reduction o�the Indeb�edness, paymen#of any lien af�ec�ting�he Prap�rty, or�he restara�ion
<br /> and repair of the Property. I�Lend�r ele�ts�n app�y�he proceeds�o restorati�n and repair,Trustor shall repair ar
<br /> replace the damaged c�r des�rayed Impro�ements in a manner sa�isf�ctory to Lender. Lender shail, upan
<br /> satisfac�ary prv�� ❑f such expenditure, pay vr reimburse Trustvr fram the prviceeds ��r the reasanahle cast o�
<br /> repair or restorativn if Trus�vr is na# in �efauf� under th�s Deed vf T�ust. Any proceeds which ha�e not be�n
<br /> disbursed within '!8� days after their re�eipt and r►Uhich Lender h�s not committed t❑ the repair a�restarat�an of
<br /> fihe P�op�rty shall be used first to pay any amnunt owing to Lender under th�s Deed o�Trust,then t� pay accrued
<br /> interes�, and#he remainder, i�any, shal� be app�ied t�the principal balanc�of the lndebtednsss. 9f Lender ha�ds
<br /> any pra�eeds after payment in full vf the indeb�edness, �uch prviceeds shall be paid to Trustor as Trus�or's
<br /> interes�s may appear.
<br /> �omplian�e with Exis�ing tndeb�edness. During the pe��od in wh�ch any Existing lndebtedness d�s�ribed �e1ow is
<br /> in ef�eGt, �vmpliance wi#h the insurance prv�isions canta�ned ir� �he instrurnent e�idenGing such Existing
<br /> lndeb�edness shafl cons#itute compliance wifh the insurance pro��sivns under this De�d af Trust, ta the extent
<br /> Garnplian�e wi#h the ferms af this Deed af Trust would constitute a dupli�atian o�insuran�e requiremen�. If any
<br /> proceeds frvm th� insuran�e becorne payable nn Ioss,the pro�'rsions in this Deed Qf Trust for di�ision of proceeds
<br /> shalt app�y anly to tha�portion of�he pra�eeds not payable to�he holder of�he Existing Indebtedness.
<br /> Trusto�-'s Report on Insurance. Upvn request of Lender, howe�er no�more than vnc�a year,Trustar sha11 furn��h
<br /> to Lender a repo�t ❑n �ach existing pc�ficy af insurance shvwing: �'I} the name af the insurer; ��} the risks
<br /> insured; �3} �he amount of the policy; �4} the praperty insured, the then current replacement �alue �� such
<br /> property,and the mar�ne�a�determining�ha��alue; and �5} �he expirati�n date of the policy_ Trustor shall, upon
<br /> request❑f Lenderr ha�e an independent appraiser sa�fs�ac�ory�o Lender determine the�ash value rep�a�ement c�st
<br /> o�fihe Property.
<br /> LENOER'S EXPENa1TURES, I�any ac�ion vr proceed'rng is cammenced�hat vvauld material�y afFect Lender's interest�n
<br /> th� ProperLy or i�Trustor fai�s to camply with any Rro�isivn of�his Qe�d of Trust 4r any Related DvGum�nfs, including
<br /> but na�limited to Trustv�'s failure�a comply with any flbli�a#ion'�o maintain Existing lndeb�edness in gvod standing as
<br /> required belaw,�r tv discharge vr pay when due any amvunts Trustar�s required ta disc�arge or pay under this De�d of
<br /> Trust vr any Refat�d Dacumenfis, Lender on Trusto�'s beha�f may{but sha[l not be�bliga��d ta}take any ac�ion�hat
<br /> Lender deems apprapria�e, in�luding but not limited fo �fischarging nr paying a�l taxes, Eiens, security ini�erests,
<br /> encumbrances and vther claims, a� any time levied or plaGed on the Praperty and paying all casts far insuring,
<br /> maintaining and preserv�ng the Property. A�i such expenditures incurred or paid by Lender for such purpos�s wil��hen
<br /> bear interest at the rate charged unde�the Nate from the dat�incurred or paid by Lende�t��he da�e.o�f repaymen�by
<br /> Trustor. All suGh expenses v►ri I i become a part vf�he f ndeb�edness and, af Lenders optian, wif� �A} be payab�e on
<br /> d�mand; �B} he added tv th� ba[ance of ti�e N�t� and !�e app�rtiart�d arrtong and bs payable wi�h any ins�al[menf
<br /> p�ymen�s to beGarr�due during e3�h�r �'�} the term af any applicahl�insuranGe palicy; ar �2� t�e remaining term of
<br /> the Nnte;or (G� b�treated as a�allaon paymen�whiGh wiil be due and payable at the Nate's maturity. The Deed af
<br /> Trust al�a wil� seGure paymerrt af these amounts. Su�h right shafl be in addition tv al� ofher rights and remedies tv
<br /> whi�h L�nde�may be en�i�led upan Defaul�.
<br /> 1NARRANTY; ❑EFENSE�F T1TLE. The�oflowing prc�W�sions re�ating�a ownership o�the P�vperty are a par����his Deed
<br /> o��rust:
<br /> Titfe, Trustar warrants thaf: �a}Trustor ha�ds gaod and marke�able title of record tv �he F'roper`€y in�'ee simple,
<br /> free and clear a�al! liens and en�umb�-an�es vth�r than those se���rth in the Reai �Property description or in the
<br /> Existing lndebtedness sectivn helow or in any�i��e insurance palicy, tit�e�eport, or'��nal title apinion issued in fa�ar
<br /> of, and accepted by, Lender in cannection with �his Deed of Trus�, and ���Trusto�has the fu�l righ#, power, and
<br /> au�hvrity tv exe�u�e and de[i�er this Deed��F Trust ta Lender.
<br /> Defense of Titl�. Subject to �he exception in the paragraph ab��e, Trustar wa�-rants and wi�l farever defend the
<br /> title to the Prvperty against the !a►nrful claims of al� persons. !n the e�ent any activn or pra�e�ding is cvmmenced
<br /> that questions Trustor's ti�le or the interest o�Trustee or Lender under this Deed❑f Trust,Trust�r shai� defend the
<br /> action at Trustor's expense. Trustor rnay b�the nam�nal party in su�h prv�e�ding, but Lender shall be entitl�d to
<br /> participate in the praceeding and fo be represented in the proceeding �y counsel of Lender's own chvice, and
<br /> Trustor will deli�er, or cause tv be deli�ered,to Lender such instruments as Lender may request from time ta�ime
<br /> �v permit such par�icipatian.
<br /> Campliance With Laws. Tru�tar warrants that the Property and Trustor's use of th� Praperty complies with ali
<br /> exis#ing applicable Eaws,ardinan�es,and regulatians v�gv�ernmental au�har�ties.
<br /> Surviva! af Representations and War�-anties. A�f represenfations,warranties, and a�reemen#s made by Trust�r�n
<br /> this Qeed af Trust sha�l surviue the execu�ian and deliver�►vf�his Deed of Trust, shall �ae�ant�nuing in nature,and
<br /> shall remain in fu�l force and effect until such�ime as B❑rrower`s lndebtedness sha�f be paid in full_
<br /> F�CISTING 1NDEBTEUNESS. The folfowing pro�isions c�ncerning Existing lnd�b�edness are a par�a�f this Deed o��rus�:
<br /> Exisfing Lien. The fien of this Deed of Trus� se�uring �he �ndebtedness may be second�ry and inferivr t❑ an
<br /> existing lien. Trustor expr�ssly co�enan�s and agrees to pay, or see to the payment of, th� Existing lndebtedness
<br /> and tv p�event any default an su�h indebtedness,any default under the instrum�nts ev�denGing such indebtedness,
<br /> o�any defau�t a�nder any security dacumen#s fvr such indebtedness.
<br /> No IVlvdifi�afiar�. Trustor shall not en�er Entv any agreemen�uv�th the holder�f any mnr�gage, deed of tr-us�, or
<br /> _ other securi�+ agreemen� whiGh has privri�y o�er �his De�d v� Trus� by rrvhich fhat agreernen� is mvdifie�i,
<br /> amended, extended, or renewed withvut the privr wrifken cansen� �� Lender. Trus�or shall nei�her reques� nor
<br /> accept any future ad�an�es under any such security agr�emen�withau�the p�iar written consen#vf Lender.
<br /> �aNDEM�AT�aN. The f�llowEng prvWisivns rela�ing�v condemnatian proceedings are a part o�th�s Deed v�Trust:
<br /> Prvice�dings. �� any proceeding in �ondemnat�on is fled, Trust�r sha[f prompt[y nv�if� Ler�der in writin�, and
<br /> Tn.�stor shall promptly take such steps as may be ne�e�sarjl to defend the ac~�i�n and obtain the award. Trusto�
<br /> may be the nc�minal party�n such prviceedin�,but L.ender sha�l h�entftled ta participa�e in the proc:�eding and�o be
<br /> represented in the proceeding �y ovunse! of its own choice, and Trus�or wilf de�iver o�-cause to be deli�ered to
<br /> Lender such instrumen�s and documentation �s may be requesfec! by Lender frorn time tv time to permit such
<br /> participation.
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