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��15��833
<br /> QEEQ �F TF�UST
<br /> Loan No: '�0'I�9�14� �Cvrttinued� Page 4
<br /> lnsuranc� Program, or as atherwis�required by Lender, and t� maintain such insurance for the term of�he loan.
<br /> Applicatian af Proceeds. Trustor sha[I pr�mptly noti Fy Lender ❑f any Ioss or darnage to �the Property. Lender may
<br /> mak� proof af I�ss if Trustor fails to do so v►iithin fifteen ��5� days of the casual�y. Wllhether or not Lender`s
<br /> security is irnpaired, Lender may, at L�nder's election, receiv� and re�ain the proceeds af any insurance and apply
<br /> the proceeds �o the reduction o�F the Indebtedness, payment �f any lien affect�ng �he Property, �r �he res�oration
<br /> and repair o�the Pr�per�ty. If Lender elects �a apply the proceeds to r�s�karatian and repair, Trusto�shall repair �r
<br /> repla�e the damaged ar destr��ed ImproWements in a manner satisfiactory �o Lender. Ler��er shal�, upon
<br /> satisfactory proa# of such �xpendi�ture, pay �r reimburse Trusttir frvm �he proceeds �or �Che reasvna�le cast of
<br /> repair ar restoration if Trust�r is n�� in defaul� under this ❑eed of Trust. Any pro�eeds which have nat been
<br /> disbursed w�thin �80 days after their receipt and which Lender has not carnmit�ed tv the repair or restaration of
<br /> �h� Pr�perty shall be used �irst to pay any amoun�awing to Lender under this Deed o�F Trus�, fih�n t� pay ac�rued
<br /> interest, and �he remainder, if any, shall be applied tQ �h� principal ba�ance of the Indebtedness. It L�nde� holds
<br /> any prac�eds after payment in full ❑f the Indebtedness, such proc�e�s shall �� paid to Trustor as Trustar's
<br /> interests may app�ar.
<br /> Cvrnpliance with Existing lndebfiedness. During the period in which any Exis�ing Indebtedness described below is
<br /> �n effect, camplianc� wifih the insuran�e pro�isions con�aine� in th� instrumen� evidencing such Existing
<br /> Indebtedness shall cvnsti�u�e comp�iance with the insurance proWisians under this Deed of Trust, to the extent
<br /> �ompliance vuith the terms of this D�ed a�Trus� w�ul� constitute a duplication of insurance requirement. If any
<br /> praceeds fram the insurance becvme payable on loss, th� prtrvisions in this De�d of Trus�for di�ision❑f pro�eeds
<br /> shall app6y on�y�o that portian of the proceeds nat payabl�to the holder�f the E�€isting Indebtedness.
<br /> Trustor's Repart on Insurance. Llpan requ�st v�Lender, howe�er not more than ance a year, Trustor shall furnish
<br /> ta L�nder a report on each existing policy of insurance showing: �1 j the nam� of the insurer; ��� the risks
<br /> insured; �3} the amount o,f the policy; t�-� the property insured, the then current replacement �alue of such
<br /> praperty, and th� manner�f determining that�alue; and {5f th�expira�ian date o�f the policy. Trustar shall, upvn
<br /> request af Lender, ha�e an indep�ndent appraiser satis�a�tvey to L�nder de�ermine#he cash�alue rep[acement�ost
<br /> of the Prape�ty.
<br /> LENDER'S EXPENDITURES. If any action ar procseding is cammenced tha�t would materially aff�ct Lend�r's inter�st in
<br /> the Property ar i�Trustor fails tv comply with any pr��is�on of this Deed af Tru�� or any Rela�ted ❑o�uments, including
<br /> but not limi�ed to Trusto�'s failure to comply with any❑bligation to maintain Exfsting Indebtedness in good s�anding as
<br /> required below, or to dis�harge vr pay when due any amaun�s Trustor is required ta discharg�or pay under this Deed ❑f
<br /> °Trust or any Rela�ed ❑ocuments, L�nder an Trustar's behalf may {but shall nat be obliga�Ced ta} take any actian that
<br /> Lender d��ms appropriate, in�luding bu� not limited to discharging or paying a[I taxes. li�ns, se�uri�y inte�ests,
<br /> encurnbrances and other �laims, at any tirne le�ied �r placed on the Property and paying aIl �osts far insuring,
<br /> maintaining and preserv�ng tf�e Property. All such expenditures incurred or paid by Lend�r for such purposes will�hen
<br /> bear in�erest at the rate char�ed under�khe fVote frorn fihe date incurred or paid by Lender to the�late of repa�ment by
<br /> Trustar. A�� such �xpenses w�ll become a par� ❑f th� Indebte�lness and, at Lender's option, will �A] be payable on
<br /> demand; �6y be added to th� balance of the Note and be apportioned among and be payable with any installment
<br /> paym�nts ta become due during ei�her �1� the t��m �f any app�icable insurance pa[icy; ❑r {2} �he remaining term of
<br /> �he Note; or f C� be treated as a balloon payment whi�h will be due and payable at the Note's maturity. The aeed of
<br /> Trust a[so w�[I secure payrnent of th�se amaunts. Such righ�t sha�l be in additian to aEl other rights and remedies �o
<br /> which Lender may be enti�led up�n�efault.
<br /> WARRANTY; DEFENSE�F TITLE. Th��ollowin� provisiQns rel�ting to ownership of fhe Property are a part o��his Deed
<br /> af Trusf:
<br /> Title. Trustor warrants that: tay Trus�or hvCds good and marke�table title of rec�rd t❑ the Praperty in fee simple,
<br /> free and clear of alf li�ns and encumbrances other than �hose set forth in �he Rsa[ Praperty descripti�n o� in the
<br /> Ex�s�ing ]ndeb�edn�ss sectian bel�w or in any title insuranCe paliGy,�ttle report, �r�ina�ti lle opinion issued in fa�ar
<br /> af, and acc�p�ed by, Lender in connection with this aeed o�Trust, and f b} Trustor has the full right, pflwer, and
<br /> authorifiy t� exe�ute and deliver khis Deed of Trust ta Lender.
<br /> Defense ❑f Ti�le. Subject to the exce��ion in the paragraph abav�, Trustar warran�s and will fore�er def�nd the
<br /> ti�le t� the Proper�y against the iawful claims af alf persons, In the e�ent any actian ❑r proceeding is commenced
<br /> tha� questions Trustor's title or fihe interest o�Trustee vr Lend�r under�his Deed of Trust,Trust�r shall d�fend the
<br /> ac�ion at Trustor's expense. Trustor may be the norninal pa��y in such proce�ding, but Lender shakl be en�itled to
<br /> par�icipa�e in �he proceeding and ta be r�pres�nted in the proc�eding hy counse! of Lender's awn choic�, and
<br /> Trus�or will deli��r, ar cause ta b�de[iWered, �o Lender such ins�ruments as Lender may request from time to�ime
<br /> to permi�t such participatian.
<br /> Cvmpliance V11i#h Laws. Trustar vuarrants �hat the Praperty and Trustar's use ❑f th� Property complies wifih all
<br /> existing applicable laws,�rdinances,and regul�tions o�fi yo�rernmenta�auth�riti�s.
<br /> 5urviWal of Representations and VIlarranties. Ali representations, warranties, and agreernen�s made by Trustar in
<br /> this De�d af Trust shall sur�i�e�he execution and deliwery❑f this Deed af Trus�, shall be �ontinuing in na�ure, and
<br /> shall remain in fu11 farce and effect untif such time as Barrawer's [ndebtedness sha[I be paid in full.
<br /> EXISTING lNDEBTEDNESS. The f��lawing pro�isions can��rning Existing fndsbtedness are a part of this D�ed vf Trust:
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