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2� 15�7398
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<br /> �EED �F TRU�T
<br /> (Gantin��d� Page 3
<br /> Property in �n emaunt sufficient #� a�oid �pplication of any �oinsurance ciause, and with a stanalard ma�#gagae
<br /> clause in favQr of L�n�er. Trus#or shs��l 81so procUre and maintain c�mprehensi�e general liability insUran�e in suG�r
<br /> co�erage amounts as Lender may r�que�t with Truste� and Lender b�in� named a� adtliti�nal in�ure�s in �Uch
<br /> liebility insurance polici�s. Addition�lly. Trust�r sh�ll maintaEn such o#her insurance, includin� but not limited #v
<br /> hazard, husiness in#errupti�n, and bail�r insurar���► as Len�ler may re�son�laly requir�. P�li�ies shal! be writtan in
<br /> f�rm. amaUnts, covera�es and b�sis reasanably acceptable to Lender and issu�d by � company ar c�mpanie�
<br /> reasonabiy ��ce�tab�e ta LendQr. T�rustor, upon request �f Len�er. wili deliv�r to Lander from time t� #im� the
<br /> poli�ies or��rtific�tes �fi insuranc� in form satisf�ctory ta Lender, including stipul�tions tha# ���er�ge� will not be
<br /> cancelled ar c��rrrini�hed withQut at least thirty �34}tlays prior written natic�ta Len�er. Each insurance palic�also
<br /> shall include�n endarsement pra�iding th�t ca�erege in fa�or af L�nd�r will n�#be impaired in any way ay any a�ct,
<br /> omissi�n or def�ult of Trustar or any ather �ersan. �#�4uld the Re�� Property be Iocated in an �rea �ssignated hy
<br /> the Administrator 4f the Federa� Emer�ency IIAan�gemen#Ag�ncy ss a special f�ood haa�rd are�, Trustor agreas t4
<br /> obtain �nd m�in#ain Fed�rai Flaod Insurance, if�vaii�ble. ��r the '�uli unpaid �rincipal balance of the ioa�n and any
<br />� prior liens on fhe prop�rty �e�uring the Ioan. up to the maximum policy limits se# under the Nstionai Flaac�
<br /> Insurance Pr�gr�m.ar as atherwise required by Lender. and to maintain such in�uranc�for th�term a�the�aan.
<br /> Application of PrQcaeds. Trustor shall pr�mptly noti�y Lend�r af any Ioss or d�mage t�the Property. Len���may
<br /> rnaks pr�of of E�ss if Trustor fai�s to d� so within fift�en t 15� days of the casuS�ty. Whe#her ar not Len�er's
<br /> security is imp�irsd. Lender may, at Lender`s election, recei�e and retain th� proceeds o�any insuran�� �nd apply
<br /> the proceeds to the redUctian of the lndebtednes�, payment vf sny lien affecting the Prop�rty, �r the restorati�n
<br /> and r�p�ir�f the Praperty. If Lende�r ele�ts ta app�y the proceeds to rastar�tion an�i r�pair, Tru�t�r shall repair Qr
<br /> r�plsG� #h� ��mag�d or de�tr�y�d �mproWernents ir� � manr�er s�#isf��#ory to Lender. Lender �ha�l, upon
<br /> satisfactory pr��f a� su�h expentfiture, p8y �r reimk�urse Trust4r from the praGeeds far the reasonsblQ cost of
<br /> repair Qr resta�at�on i# Trustor is not in defeult Und�r this De�d of Trust. Any prac�eds whi�h h�r�e not b��n
<br /> dishUrsed within 18Q days after their re�eipt and which L�nder hss nat commi#ted ta th� r�pair or rsstor�tiQn of
<br /> the Proper#y sh�ll be us�d first to pay any amount owing t� Lender under this Qeed o�Trust� then ta pay accrued
<br /> interest, �nd the rema�nd�r, if�ny, sh�l� be applied ta the prin�ip�l belsnGs af the Ind�btsdnsss. If L�ndsr holds
<br /> any proceeds �fit�r paym�nt in full �f th� In�ebtedness. su�h proceed� shail b� paid ta Tru�t�r as Trustar's
<br /> interests may appear.
<br /> Trustor's Raport ar�Insuranc�. lJpon request of L�nder, hovueWer not more th�n ance a year, Trustor sh�ll furnish
<br /> to Lender a r�p�rt �n each Qxisting poli�y of insur�n�e showing: �1 f #he name af the insurer; ��} the risks
<br /> insure�; t3y the amaunt of the policy; �4} the prop�rty insur�d, th� then currer�# r�pla�em�nt �alue �f such
<br /> property. �nd the manner flf det�rmining thst��lue; and �5� the�xpiration dat�af the palic�. Trustar shall, upon
<br /> request of Lander, have an independent�ppr�ise�sati�f��tory to L�ndsr determine the��sh�elue r�placemen#cQst
<br /> ��th� Prop�rty.
<br /> TA]C AND INSURANCE RESERVE�. aubje�t ta any limitatians and �onsistent with any requiremsnt�set by app�ic�b�e
<br /> law, Lender may reqUire Trustar ta matntain with Lender reser�es fvr payment of annuel taxes, ass�ssments, and
<br /> insuranc� pr�miums. which reser�e� shall be created by �n initia! dep�sit and subsequent monthly payments, or
<br /> payments at such othsr�nterval as psyrr��nts under the Nat� m�y be du�,af a sum�s#irnated by Lend�r ta be sufficient
<br /> ta pay the tat�l annual taxes, �sse�smants, and insurance prQmi�rn� Lender reasanably anticipates to iae paid fram
<br /> these res�rves. The re�er��funds shall be hslc!by L�nder as a general ds�asit from Trustor, which Lender rnsy s�tisfy
<br /> by payment of the tax�s, assessnn�nts. er�d insuran�e pr�m�ums requir�d to be pai�# by Trustor �s they be�ame due.
<br /> Lender sh�il ha►►� the ri�ht to draw upon the reserWe funds t4 p�y such i#ems, �nd Lender sheli not be required to
<br /> determine th� �ai�di#Y or ��curacy a# any item before paying it. Nathing in the Deed a� T�ust shall be construed as
<br /> requiring Lender t��d►�ance Qther monies for su�h purposes, and Lender shall not in�Ur sny liability��r�nything it m�y
<br /> da or amit ta da with respe�t to the reserue a�ccount. Subje�# t� �n� limi#ations $et by applicable law, if the reserv�
<br /> funds d�s�lose � sho�t��e or defici�ncy, Trustar shall pay such sha�t�ge or dsficien�y �s required by L�nd�r. All
<br /> �mounts in the reser��account are hereby pledg�d to further s��ur�the Indebtedness. and L$�rder i�hereby authoriaed
<br /> to withdraw and apply such amounts an the!ndebtedn�ss up�n the accUrcence of an E�►ent�f Def�Ult. Lender shal!not
<br /> be r�quired #o p�y any interest ar �arnings an the r�sarve funds unless required by I�w �r agre�d to by L�nder in
<br /> writing. L�nder d4es not h��d th� reserv� funcls in#rust far Trustor, and Lender is nat Trustor's agent far paymant of
<br /> th�taxes and assessmen�s r�quired to b�paid by Trust4r.
<br /> LEN�ER'� EXPENDII'URES. If any �ction or proc�eding is comm�nc�d that would materialiy affect Lender's interest in
<br /> the Propex#y or if Trustar f�ils to comply with eny pro�ision af#his Deed vf Trust�r any Related aacumen#s, ir�cluding
<br /> but n�t limited to TrUstar's failure t4 discharge ar p�y when due any �mounts Tcustor is requ�red to discharge or pay
<br /> under this Deed ot Trus#or a�ny Related �o�umen#�, L�ndar an Trus#or's behalf m�y �but shalf nat he obligated to}take
<br /> any aGti�n that Lender deems appropriats, inc�uding but no# limited ta discharging or paying al� taxes, lien�, seGuri�y
<br /> int�rests, encumbr�nCes an�ather�laims.at any tim�le�ied�r placed�n the Propert�and p��ing�I!�osts for insuring,
<br /> ma�ntaining �nd preseniing #h� P�aperty. Ail such expenditure� incurr�d ar p�id by L�nd�r for such purposes wiil then
<br /> b�a�interest st the ra#e charged under�he Note frorn the date incurred ar paid �y L�nd�r to the date�f repayment b�
<br /> Trustor. All su�h $xpensss wil! k��com� a part af the �nd�b��dnes� arid, at Lend�r's aption, will �A} be p�yabfe an
<br /> demand; tB) b� added to the b�l�nce of the No#s and be app�rtion�d among and be peyable with any installmsnt
<br /> payments to b�c�me due during sither �1} the term ��any applicabla �nsuranc� pali�y; ar t2] �he rsmaining term �f
<br /> the Na�e; or {C} be tr�ated as a b�lla�n payment which will he due end pay�bl�at the Not�'s maturity. Th� De��of
<br /> Trust �Isa will secure paymsnt af these amaunts. Such right sh��1 be in additivn t� all �th�r righta and remsdi�s ta
<br /> which Lender may be entitled upon Def�ult.
<br /> WARRANTII:DEFENSE�F T�TLE. The fall�wing�r�Wi�ions rela�in�ta ownership�f the�r�perty are a part o�this aeed
<br /> af Trust:
<br /> Title. Trustor warrants that: [a� Tru�tor holds goad and marketable title �f re�ord to the Praperty �n fee �imp��,
<br /> free and �I�ar af a#I itens and encumbrances ather than th�se set f�rth in the Real Prop�rty description or in any
<br /> titie �nsurance �a�i�y, title rep�rt, or fin$I titl� a�inian i�sued tn fs�or of. and accepted by. Lender in cannectior�
<br /> with this Qeed of Trust� ar�d �bf Trustar has the ful!ri9ht, pow�r� and autharity ta exe�ute and deiiUer tk�is Deed of
<br /> Trust to Lender.
<br /> Qefer�sa o#T�tl�. Subject t� th$ ex��ption in the paragraph aba�e, Trustar w�rrants and wil� farever def�nd th�
<br /> title to the Property�geinst the I�w#u� claims of�!� persons. In the e�►ent sny action ar pr�c�edin� is c�mrnenced
<br /> that questions 7rustor's title or tF�e�nterest af Trustee ar Lsndsr under this Deed of Trust, Trustor shall defend the
<br /> actian �t Trustor's exp�nse. T�ustQr m�y be thg nominal party in such prac�eding, but Lender sF�ali be entitled to
<br /> p�rticipate in the praceeding and to be represented in the proceed�ng by c�unsel of Lender's awn choice. and
<br /> Trustor wifl deli�er, or cause to be deli�►et'ed, �o Ler�der suGh i�nstrume�n�s as Lender may request from�ime ta time
<br /> ta permit such parti�ip�tivn.
<br /> �vr�l�ance Vllrth Laws. Trus�or warrants that the Property and Trustor's use of the Property complies wi#h all
<br /> existing�pplicabl�laws, ordin��r�es��nd regul�tions a�g��ernmen��!�uthtir�ties.
<br /> Survivel af R�prssarrt�tions and Wsrr�n#ies. All repr�sentatians, w�rranties, and ��reem�nts made by Trus#or in
<br /> this �s�d of Tru�t shall surr►i��the execution and de�ivery o�this De�d ot Tru�t. shall be�antinuing in nstur�, an�
<br /> st�a�ll r�mair�in full f�rce and ef�e�t until such time as Trustor's lndebtedness shall be�aid in full.
<br /> C�NDEMNATIaN. The�allawing pro�isions refating ta c�ndernn�tian pr��ee�iings are a part af this Des�of Trust:
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