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2� 15�7422
<br /> � DEE�3 �F TRUST
<br /> Lvan Nv: 'i�'12�D74'i �Cantinued� Page 4
<br /> repair �r restoration i� Trus�or �s not in de�auf� under this Deed ❑f Trust. Any proceeds whi�h ha�e no� been
<br /> disbursed within '18� days after�heir receip� and which Lender has not cammitted ta the �-epair ar restoration of
<br /> the Property shal� be used firs�ta pay any amvunt ow�ng to Lender under�his Deed o�Trust, then ta pay a�crued
<br /> infieres�, and the remainder, i� any, shall be applied to fihe principal bafance of the [ndehtedness. If Lend�r holds
<br /> any proceeds af�er payment in �u�I ❑fi �he fndebtedness, such proceeds shall be paid t� Trust�r as Trust�r's
<br /> interes�s may appear.
<br /> Trustor's Reporfi on Insurance. Upan request of Lender, hawever nat more�han once a year, Trustar shall furnish
<br /> �o Lender a report on each existing poficy of insurance showing: �'i y the name v� the insurer; �2� the risks
<br /> �nsured; �3} the amoun� vf the p�iicy; �4y the property insured, �he then current replacement �alue ❑� su�h
<br /> property, and the manner af determining tha��aEue; and ��� �he expiration da�te of the policy. Trustor sha�l, upon
<br /> request❑�Lender� ha�e an independent appraiser sa�isfactory t❑ Lender determine the�ash�alue replacement cos�
<br /> af the Property.
<br /> LEN�ER'S E�PENDITURES. l�any acfiion or p�-oceeding is commenced�hat wauEd materially affect Lender's interest in
<br /> �he Prvperty or if Trus�or-�ails�o comply with any prv�ision af this �eed ❑f Trust ❑r any Related Documents, including
<br /> but no� limited t❑ T�-ustor's failure t❑ discharge or pay when due any amounts Trustar is r�quired to discharge ❑r pay
<br /> under this Deed of Trust or any Rela�ed Documents, Lender ❑n Trustor's behalf may tbufi shal! n��t be�bligated to} take
<br /> any actinn tha� Lender d�ems appropriate, including bu� nafi limi�ed t❑ discharging or paying all taxes, liens, securi�y
<br /> interes�s, encumbrances and vther�laims, at any time le�ied or placed ❑n fihe Property and paying all cvsts�or�nsuring,
<br /> maintaining and preser�ing �he Pr�perty, A�i such expenditures incurred ❑r paid by Lender for su�h purposes wilt fihen
<br /> bear interes� at the rafie �harged under the No�e �r�m the date incurred ❑r paid by Lender ta the date a-� repayment by
<br /> Trustor. All such expenses wilE become a part af the Indebtedness and, at Lender's opfiivn, will �A� be payabEe on
<br /> demand; �B} be added t❑ the balance ❑f the Nate and he apportianed amang and be payab�e with any ins�allment
<br /> payments to become due during ei�her {�� the term ❑f any app�icable insuranGe policy; or �2} the remaining �erm of
<br /> the Nvte; or �Cy be treated as a ballovn paymen�which will be due and payal�le at the Note's maturi�y. The Deed of
<br /> Trust also will secure payment of�hese amounts. Such right sha[[ be in addition t❑ all other rights and r�medies to
<br /> which Lender may be enti�led upon De�au[t.
<br /> 1NARRANTY� DEFENSE DF TITLE. The�oE[owing pra�isions re�ating to ownership o�the Property are a part o�this Deed
<br /> ❑�F Trus�t:
<br /> Ti�le. Trustor warrants tha�: {a} Trustor holds gvod and marke�ahle titfe ❑f record to the Property in ��e simple,
<br /> free and �[ear v� all liens and encumbrances Qther fihan fihase set �forth �n �he Real Property description or in any
<br /> title insurance pali�y, �itle report, vr final title opinion issued in fa�or of, and ac�epted by, Lender in cvnne��ion
<br /> with fihis ❑eed ❑f Trust, and tb} Trustvr has the tull righ�, power, and autharity to execute.and deli�er this aeed of
<br /> Trust t� Lende�-,
<br /> Defense v�Ti�le. Sub�ect�v the ex�ep�ion in �he paragraph above, Trus�ar warrants and will fore�er de�end �he
<br /> �itle to the Property against the lawfui claims of all persvns. In�he e�ent any action ❑r prviceeding is cammenced
<br /> �ha�k ques�ians Trustor's�itle❑r the infierest of Trustee ar Lender under this �eed o�Trust�Trustar shall defend�he
<br /> ac�ivn at Trus�tor's expense. Trustar may be the nvminal party in such praceeding, but Lender shall be entitled�❑
<br /> participate in �he proceeding and �v be represented in �he proceeding by counsel o� Lender's ❑wn choice, and
<br /> Trustor will deEi�er, ❑r�ause�tv be deli�ered, �o Lender such �nstruments as Lender may request f�-�m time fio�ime
<br /> ta permit such participation.
<br /> Campliance ll�ith Laws. Trustor ►nrarrants tha� the Prvperty and Trusto�'s use of the Property complies with aI!
<br /> existing appficable laws, ordinances, and regulations vf go��rnmen�al au�harities.
<br /> Sur�ival v� R�presentativns and Vtilarranties. All �epresentations, warranties, and agreements made by Trustor in
<br /> this D�ed vf Trust shall su��i�e#he exe�u�ion and deli�ery❑��his ❑eed of Trus�k, shal! be continu�ng in na�ure, and
<br /> shall remain in full�orce and e�#ect untif such time as Trus�vr's �ndebtedness shafl be pa�d in full.
<br /> CONDEMNATIDN. The�ollowing prv�isEons relating t❑candemna�ion proceedings are a part vfi�his I�eed of Trusfi:
<br /> Proceedings. I� any pr�ceeding En condemnati�n is filed, Trustvr shali promptly noti�y Lender in wrifiing, and
<br /> Trustar shall pramptly�ake such s�keps as may }�e necessary ta defend the a�tivn and obtain the award. Trustor
<br /> may be the nominal par�y in such praceeding, but L�nder shail be entit�ed�a participate in the proceeding and�v be
<br /> rep�-esented in the proceeding by �ounse! of i�s own ch�ice, and Trus�or wi�� deli�er v�- cause t� be deli�ered fi❑
<br /> Lender such insfiruments and dacumentativn as may be requesfi�d by Lender from time to tEme t❑ permi� such
<br /> participa�ivn.
<br /> Application a�Net Proceeds, lf aIC or any part of the P�raperty is condemned by eminent domain p�roceedings or by
<br /> any prv�eeding or purchase in Ii�u❑f candemnatian, Lender may at its eiection requEre that a[I ar any partion ❑f the
<br /> net proc�eds of�he award be applied to the lndeb�edness or the repair vr rest�ration ❑f �he Properky. The net
<br /> prv�eeds o��he award shall mean the award a�ter payment of all reasvnable cos�s, expenses, and at�orneys' fees
<br /> incurred by Trustee❑r Lender in connec�ion with the cvndemnation.
<br /> �IIJ�PQSITIDN DF TA�ES, FEES AND CHARGES BY G�VERNMENTAL AUTH�RITIES. The fallowing pro�isions relating
<br /> ta go�ernmenta�taxes,�ees and char�es are a par-t of�his Deed of Trust:
<br /> Curren#Taxes, F�es and Charges. Upon reques� by Lender,�Trustvr sha11 execufie such dv�umen�s in addi�ian �a
<br /> th�s Deed ❑f Trust and �ake whateWer vfiher action is requested by Lender to perfec� and can�inue Lender's lien an
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