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2� 15�7595
<br /> �E E[) �]F TF�L!ST`
<br /> Lvan Nv: 1��1�54� ��or�t�rlu�C�� �age �
<br /> �he Natia�al Flaod �nsurance Prvgramr or as otherwise required by Lerader, and to main�ain such insurance far�he
<br /> terrn�f the�oan.
<br /> �lpplicat�on of P�oceeds. Trus�or shaIl p�omptly no�i�y Le�der o�F any l�ss or damage to �he Prope�ya Lender may
<br /> rna�C� praaf of Ioss if Trustar fails �o do so vvi�hin fifteen �'�5� days ❑f the casualty. Vllh�ther or not Lend�r's
<br /> security is impaired, Lender may, at Lender's ele��ian, reGei�e and retain the p��ceeds of any insurance and app�y
<br /> t�e praceeds ta the reductson o�the Indebtedness, payrx�en� af any Iien a�#e��ing the Proper�y, or the restorati�n
<br /> and repa��of the Property. [f Lender e[ects to appiy the proceeds to resto�ation and repair, Trustor shal� �repair ar
<br /> replace the damaged or d�stroyed lmpro�ements in a r�anner sa�Es�actory to Lender, Lender sha[f� up�n
<br /> sa�isfactary praaf ❑f such expenditure, pay or reimburse Trustor fram �he proceed� fvr fhe reas�nab[e cost ofi
<br /> repair ar rest�ration i� Trustor �� not �n de�au�� under �th�s De�d �f Truste Any ��oceeds which ha�e not beera �
<br /> disbursed �vithin �[8� days after theEr �eceip� and vvhich Lender has nat cammit�ed �o the repair o� �estvration of
<br /> th� Proper�sh�[[ be used first�❑ pay any amount awing to �ender under fihis Deed of Trus�. then �a pay �ccrued
<br /> in�ter�st. and �he remainder, �f any� sha[� ne applied �o �he prin�ipa� ba�ance vf th� lnd�btedn�ss. !t Lender ho[ds
<br /> an�r praceeds after �aaymen� ir� �ull vf the fndebtedness, such proceeds shall fa� paid to Trustar as Trustor`s
<br /> in�eres�s�nay appea�.
<br /> Cvnnp[iance with Existir�g lncfebtedn�ssa During the period in w�ich any Exis�ing [ndebtedness described below �s
<br /> [n e�fect, cvnnp�iance with th� insurance prvvis�ons �antained in �he �nstrumen� evidencing such Existing
<br /> �nde�tedness shal� c�nstitu�� compi�ance wi�h the insurance provisivns und�r �his �3eed af Trus�o �� �h� ex�ent
<br /> cvmp�ian�e orvifih the te�-ms o�thi� Deed �f Trust wvu[d constitute a duplication af insurance �equirert-�ent, lf any
<br /> pr�ceeds fc��m-�he insuranc.e �ecarrte payab�e ❑r� �oss, �he pro�isions in fihis D�ed ��Trust�ar di�ision vf pro��eds
<br /> shaf[ app�y onfy t��hat portiora❑�the proceeds nat payab�e to the hvlder o�the Existing [ndebfie�ness.
<br /> LE�IDER'S F�CPE�VDI�LDRES. I� Trus�vr �ai�s {A� tv keep the Property free af ail �axes, ��ens, securi� �r�teres�s,
<br /> �n�umbrances, and other �[aims, {6} ta pro�ide any required insurance on the Propertye {C� to make repairs tv th�
<br /> Proper�y ❑r �e compfy w�th any abfigafiion to maintain Existing [ndeb�ednes� in go�d s�anding as requEr�d belaw. then
<br /> Lender ma�r do so, Ef any actian vr praceeding is cflmmenced that wou�d materia[�y a€�ect Lender's interests in �he
<br /> Proper�y. �hen Lender an �rus�ar°s beha�f may, bu� is not required to. take ar�y actian that Lender belie�es �v be
<br /> appropria�e �o protect L�nder's in�eres�s. A[f expenses incurred ar paid by Lender far su�h purposes w��� then beac�
<br /> interes� �� �he ra�e cha�-ged under the fV�fie �rom the da�e in�urre�l vr paid by Lender ta the date v� r�payrr�+ent by
<br /> �rustara A�1 suc� expenses wil� become a par-� of the lndebtedness ancio a� L�nder's �ptian, �►vill �A� be payabl� on
<br /> d�mand; �B� be added �v �he balance o� the Note and be �ppartioned amvng and be payable with any insta[finent
<br /> paymen�s to be�o�e�iue during either {�� �he term ��any appf icab[e Ensu�ance poii�y; or 42} fihe �emaining �erm v�
<br /> the N�te; or ��� be �reated as a ba�[oon pay�-nen�which wi�f be due and payable a��he N�te's matur�ty. The Deed ❑-� .
<br /> T�-ust afso wi[[ secur� payment Q�thes� am�un�s. The rights prv�ided �vr �r� t}��s paragraph shafl be in addi�ion tfl any
<br /> other rights or any r�medies to whi�h Lender may be enfiitled ❑n accaunt �f any de�au[t. Any sueh actian by Lender
<br /> sha�l no�be cnnstrued as curring the defaul�sa as to bar Lender�rarr� an�remedy that d��th�rwise would ha�e had.
<br /> WARRAN�; DEF�NSE�F T!�'LE. i he�ro��owing pro�isians relat�ng�o❑wnership�f�h� Prap�rty are a part o�r this Deed
<br /> of T�ust:
<br /> Title. i rustor warran�s �hat: �a� Trustor holds goad and mark�table �it1e af reGord to �he Pro��rry En fee simple,
<br /> �ree and c[ear of a[� liens and en�umbrances other�han those set forth �n the F�ea� Pe-aperry descriptior� ❑r in the
<br /> Existing �ndeb�edness sectivn be[av� or in any�E�le insurance pali�y, �i�[e report, �r�inal t�t[e❑pinion issued in fa�or �
<br /> o�, and accepted by, Lender in c�nnection with this ❑e�d ❑f Trus�, and {b� Trustar has �he �ul� rightr pc�wer� and
<br /> authori�to execute and deli�er�his Deed o�Trust to Lende�-.
<br /> De�ense v�F Tit1e. Subj�ct tQ the exceptian in �he paragraph abo�e. �'rus�or warrants and wiE� fore�er def�nd the
<br /> ti�le to fihe Property againsfi the [avirfu� ciaims ❑�a�! persons. [n fihe e�ent any act�on ❑r prviceed�ng is commenced
<br /> �hat questions Trus-�or's�it[e or the interest of Trustee or Lender under this fl�ed vf Trust, Trustor shall d��end�he
<br /> action a�Trus�or's expense. Trus�or ma� be �he naminai party in such p�flce�ding, but Lender shall be entitled 'tfl
<br /> �articipate sn the proceeding and �v be represented in the pro�eeding by caunse� ❑f Lender`s awn �hoice, and
<br /> Trustor vvill de���er, ❑r cause ta be de[i�ered, ta L�nder such instrumen�s as Lender may reques�from tirr�e to time
<br /> t� permit such parti�ipativn.
<br /> Camplianc.e W'rth Lar►vs. Trustor warran�s �hat the Properry and T�ustor's use ❑fi the Properry comp�3ss �rith al�
<br /> �xisting applicabl�Iaws, ordinanc�s� and regu�ations of go�ernmentai authori�ies.
<br /> Survi�aI of Promises. A[I promises, agreem�n�s. and sta�ements Trustor has made in �his Deed o� �rust sha�[
<br /> sur�i�e �he exe�ution and de�i�ery❑f this ❑eed af Trus�, sha[[ be cantinuing in nature and sha[[rema�n �n fui� force
<br /> and�f�ect unti� such�ime as Trus�or's lnd�btedness is pa�d in fu[[.
<br /> EX�ST'I�G 1NDEBTEDNE�S. The�allawing prflvisivns conc�rning Existing fndebtedness a�e a part o�th�s De�d o�Trus't:
<br /> Existing L�en. The �ien ❑f this []eed of Trust securing the �ndebtednes� ma� be secandary and infer�or tfl an
<br /> existing [ien. �rusfior e�pressl� ca�enants and agrees �o pay, o�see ta the payment of; the Existing Indebtedness
<br /> and�o �re�ent any defau�t on suc� �ndeb�edness, any defau[t under�he instrur�en�s e�idencing such indebtedness,
<br /> ❑r any defaul�under any securi�d�cuments fo�-such indebtedness.
<br /> No 1Viodi�ica�ion. Trustor shalE n�� ent�r inta any agreement wi�h the �older vf any r�nortgager deed vf �rust, vr
<br /> v�her security agreemen� �nrhich has priority over this �7eed flf Trust by v►rhich that agreement is madified,
<br /> amende�, extended, ar renewed without the prior wri�en consent of L�nder. -f�usta� shaId neit[�er reques� nar
<br /> accept any future ad�ances under any such securi€�agreem�nt withaut the prior vr�ritter�cansen�❑�Lend�r.
<br /> CaNDEN�NATI�N. The�ollawing provisions relating�o condemnativn prviceedings are a part v�this Deed ❑f Trust:
<br /> Proceedings. �f any proceedin� in cvndemna�ion is �iled, Trustar shai� prvmp�[� n�'�ify Lender in writing, and
<br /> Trustor sha�l prompt[y�ake suc� steps as rnay be necessary ta de�end �he action and obfiain the award. Trustvr
<br /> may be tl��naminai party in such proceed�nge but Lender shall b�entitled t� par`�icEpate in the proGeeding and tv be
<br /> represented in the prviceedin� by counse� of its ❑wn �hoice, and -frus�or �vilf deis�er or ca�se �to be de[ivere�l to
<br /> Lend�r su�h instruments and doGumenta�ion as may be requested by Lender �rom time t� �ime to permit su�h
<br /> part�cipa�ivn.
<br /> Appiicati�n vf Net Pro�eeds. I�all or an� part o�fihe ProperEy is condemned by eminent domain praceedings vr by
<br /> any proGeeding o�gurchase in lieu o�candemnation, Lender may afi i�s election require tha�aII❑r any pvrtion of th�
<br /> net proce�ds of the award b� applied �a the [ndeb�edness or the repair or restorafiivn o# the Prnpertys Th� ne�
<br /> proceeds ❑f the award shall �-nean the award af�er payment vf aii reasvnabf� cvsts, expenses, and a��flrneys' fiees
<br /> in�urred by Truste�or Lender in connectian wi�h�he cvndemnativn.
<br /> [MP�SETION �F TA�ES, FEES AND CH►�RGES BY ��VERNMENTAL AU�H�i�ITIES. The fvllov►ring pra�isions relating
<br /> tv gov�rnmenta[taxes,fees and charges are a part of this Deed o�Trust:
<br /> Current Ta�ces. Fees and Gharges. Upon r�quest by Lender, Trus�or sha[[ execute such docum�nts in addition to
<br /> this Deed af Trust and take whatever o�her ac�ion is requ�sted by Lender�to per-�ect and continue Lender's Iien on
<br /> fihe Real Praperty. Trustor shalf reimhurse Lender �or all �axes, as described b�[ow, together with a!! expenses
<br /> in�urred in r�carding, perfecting or contFnuing �his Qeed �f Trus�, including withau� limitation aIi taxes, fees,
<br /> do�umentary stamps, and ather charges�ar r�Gording vr registering this L7eeoi�f Trus�.
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