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��15��83�
<br /> DEED �F TRU�T
<br /> Loan �fl: '�U7 2�98�2 {Contin�ed� � Page 4
<br /> and repair of the Prvper�y, lf Lender ele�ts to apply the proceeds�o r�storation and repair, Trustor shall repair or
<br /> rep��ace the damaged ar des�royed Irnpro�ements in a manner satisfact�ry t� Lender. Lender shal�, upon
<br /> s���s�fa�tor� praaf of such expen�iture, pay ❑r reimburse Trust�r �from �he proceeds for the r�asona�[e cas� of
<br /> re�air ❑r r�storatian if Trustor is not in defauft under this Deed of Trus�. Any prace�ds vvhi�h havc not t�een
<br /> di�bursed tirvithin 18� days a�f�er iheir receipt and which Lender has nat committ�d to the repair or restoratian of
<br /> th� Property shall he used first ta pay any amoun� aw�ng t� Lender under�his De�d of Trust, then ta pay a�crued
<br /> in�erest, and the remainder, if any, shali be applied �o the principa! �alanc� of the [ndebtedn�ss. If Lender holds
<br /> any pro��eds after payment in full vf the Indebtedness, such prace�ds shall be paid to Trustar as Trust�r's
<br /> int�rests rnay appear.
<br /> LENDE�'S EKPEIVI�ITURES. If Trustor fails tA} to keep the Proper�y free of all �axes, liens, security interests,
<br /> encum�ran�es, and ofher clasms, (By to provide any required insurance on the Proper�y, ar {C} �o malce repairs to th�
<br /> Pr�per�� then Lender may da so. lf any a�tion vr proce�ding is carnmenced that would ma�erial�y af�Feat Lender's
<br /> interes�s in the Property, then Lender an Trustor's behalf may, but is not �equired ��, take any ac�ian that Lender
<br /> beli��e�to be appropriate�to pratect Lend�r's interes�s. A11 �xpenses in�urred or paid by Lender far such purposes will
<br /> then be�ar int�rest at�hs rate charged und�r the Nvt�from the date incurred or paid by Lender ta the date o�repaymen�
<br /> by Tru�tar. All such expenses will becvme a part of the lndebtedness and. at Lender's ap�€on, will ��4} k�e payabl�❑n
<br /> dernan€�,• {B} be added to �he balance af the Not� and be app�r�ioned am�ng and be payable with any installment
<br /> paymer�ts to become du�during either �1� the term af any applicable insuran�e po[icy; or �2y the remaining term of
<br /> �he No�:�; or {Cy b�treated as a ba�IvQn payment which will be due and payable at the Note's maturi�y. The ❑eed �f
<br /> Trust al�a will se�ure payment �f thes� amoun�s. The rights pro��ded for in this paragraph shafl be in addition to any
<br /> other r�ghts or any remedies to which Lender may be entitled on acc�un� o�f any defaul�. Any such action by L�nder
<br /> shai�n��t be �vns�trued as curing the default so as�o bar Lender from any remedy fha�i�oth�rwise would ha�e had.
<br /> WARR�NTY; DEFENSE�F TITLE. Th��oll�wing pro�isians relating�o awnership of the Prap�rty are a part of this Deed
<br /> of Tru�t:
<br /> Ti��e. Trus�or warrants that: �a} Trustar holds go�d and mark�fiable fiitle �f recvrd ta the Property in �fee simpfe,
<br /> fr�e and clear of all liens and en�umbran�es other than �hose set fvrth in the Real Property descriptivn �r in any
<br /> �itr� insurance p�licy, �it�e report, or final ti�le �p�nivn issued in fa�rar of, and a�cepted by, Lender in connection
<br /> wrth this Deed af Trust, and �b}Trus�ar has�he full righ�, pow�r, and autharity�o ex�cute and deli�er this Deed of
<br /> Trust to Lender.
<br /> ❑��Fense of Title. 5uhject �v �he exception in the paragraph abo�e, Trustor warrants and wil[ far�ver defend the
<br /> ti��e to th� Praperty against�he lawfu� ciaims af all persons. In th�event any action vr prviceeding is commen�ed
<br /> that questi�ns Trustvr's ti�le ar�he interes�❑f Trustee �r Lender und�r this Deed of Trust, Trustor shali defend th�
<br /> aGtion at Trustor's expense. Trust�r may be the n�minal party in su�h proceeding, but Lender shall b� en�itied t�
<br /> par�icipate in the proc�eding and t4 b� represented in the proceeding by counsel ❑f l.ender's own chaice, and
<br /> Trustor w�l[deii�er, ar cause �v be de�ivered, ta Lender such instrumen�s as Lender may request f�om�ime to tim�
<br /> to permit such participatian.
<br /> Camplian�e With Laws, Trustar warrants that �he Property and Trustor's use af �he Pro�erty c4mplies with ail
<br /> e�isting applicable laws,vrdinances, and regulations vf go�ernmental authorities.
<br /> S�rvival of Pramises. Afl promise�, agreements, and stat�ments Trustor has made in this C3eed of Trust shall
<br /> s�rvive the exe�u�ion and deliWery of this De�d af Trust, shall be continuing in nature and shall rema�n in fufl force
<br /> and effect until such time as Barrower's Indebtedness�s paid in�ull.
<br /> GONDE111#NATI�N. The f�llvv+�ing prv�isions relating to candemnation proceedings are a part vf�his Deed af Trust:
<br /> Proceedings. I� any proceecling in �ondemna�ion is filed, Trustor shall pr�rnptly natify Lender in writing, and
<br /> Trustar shall promptly take such steps as may be necessary to defend the actian and ob�ain the award. Trustar
<br /> may be the naminal party in su�h prQceeding, but L�nder shall b�entitled t� participate in the praceeding and to be
<br /> represen�ed in the proce�ding by couns�l of its own choice, and Trustor will deli�er or cause to be de�i�ered to
<br /> Lender such instruments and dacumentation as may be �equested by Lender �r�m time t� time ta perm�t such
<br /> participation.
<br /> Apalicativn of Net Proceeds. Ifi a�l vr any part af the Pr�perty is condemned by eminen�damain prace�din�s or by
<br /> any proceeding or purchase in lieu o�c�ndernnation, Lender may a�its e��ction require tha�al�or any portion af the
<br /> ne� praceeds of the award be applied t❑ the Indebtedness or �he repair or resforatian of the Praperty. The net
<br /> pr�ceeds af the award shall mean the award after payment af all reas�nable �osts, expenses, and a�torneys' fees
<br /> incurred by Trust��vr Lender in connec�i�n with�he candemna�ian.
<br /> IMP�SiTI�N aF TA)(ES, FEES AND CHARGES BY G�VERNMENTAL AUTH�RITIES. The follvwing pr�visions re�ating
<br /> ta go�ernmen�a!taxes, f��s and charges are a part of this Deed o�Trust:
<br /> �urren�Taxes. F�es and Charges. Upon request by Lender, Trustvr shafl ex�cute such documents in additian ta
<br /> this Deed t�f Trust and ta�ce whate�er other�ct�on is reques�ed by Lender to perfiecf and cvntinue Lend�r's lien on
<br /> the Real Property. Trustor shall reimburse Lender fiar al� taxes, as described belaw, ��ge�her with all expenses
<br /> incurred in recor�ling� per�ecting t�r continuing this Deed of Trust, including without limitation a[I taxes, �ees,
<br /> docum�ntary stamps, and other charges for recording�r registering�his Deed of Trus�.
<br /> Taxes. The fallowing shall const[�ute taxes t� which this se�tion applies. �1} a spe�ific tax upon this type af
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