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2� 15�7921 <br /> vEE� a� TRus�r <br /> t�vnt'snued� Page 3 <br /> poli�ies nr certificates o�insursnce in farm sat�sfactory t� Le�nder, in�iuding �tipuletions th�t �o�gr�ges wil� not be <br /> cancelled ar diminished w4thout at least thirty �3�� days prior written notiGe to Lender. Each insur�nce palicy also <br /> sh�ll inGtude an endorsement pro�idEng tha�co�erage in fe�or of Lender will nat h�imp�ired in any way�y any act, <br /> amissivn ar default of T�ustar or any other persQn. Shauld the Re�l Prflper#y be �o�ated in an area designated by <br /> th�Administra#or�f the Federal Emergen�y Mana�ement Agency as a spe�ial fland h�zard erea, Tru�tor sgraes to <br /> obtain and maints�in F�ieral FIo4d ln�urance, if a�eilab��, #or�he fuf� unpaid p�incipal b�lance v'�the lvan �nd any <br /> privr �iens a�n the property �ecuring the Soan, up to the maxirnum policy limit� set under the N�tione� Flood <br /> �nsuran�e Pra�ram.or as�therwise raquir�d by Lendsr� and tt�maint�in su�h insur�nc��ar th�term af#he loan. <br /> Applica�on of Proce�ds. Trustor she�t prromp�ly notify Lendec�f�ny�oss Qr damage t�the PrQperty. Lender may <br /> make �raaf nf loss i# Trustor f�ils to do so witt�in #iftesn �15� days of th� casualty. Whether or nat Lender's <br /> security is impa�red� L�nd�r may, at L�nder'a elactjon, rva��e and rst�in th� pro�eeds of eny insur�nce and appiy <br /> the praceeds ta �the �edu�tion v�t the Indebtedness, psYment a�# any li�n affecting t� Property, or th� restaration <br /> and repair of the Property. �f Lender eiects to apply th�r prac��ds to restar�tivn and rep�ir, Trustor shall r�pair or <br /> replace the dameg�d ar destrayed Impro�eman�s in a m�nn�r satisfact�ry to Lender. Lender shall� upon <br /> sat�sfa�t�ry proo� �� such expenditure, pay or reimbursa Trustar �rom ths proc�eds �ar the re�sonable �ast o� <br /> repair �r restoration if Tru�tvr is not in default under this Deed af 7'rust. Any proceeds which ha�e nat been <br /> disbursed w�thin 184 deys aftar the�r r�G�ipt and which Lender has not committed tv the r�pair or restorativn of <br /> the Praperty shall be used fiirst to pay eny amount owing ta Lende�r under this� Deed of Trust.then t� �ay accruad <br /> interest, and the remainder, if any. sha�l be applisd to the prinGipel b�lance a�the 1nd�btedness. I# L�nd�r holds <br /> any proceeds after payment in full of the ind�bt�dna�s, �uch proceeds shal� be paid tv Trustvr as Trustor's <br /> int�rssts may�pp�ar. <br /> Trustar's Report on Insuran��. Upan request�f Lender, however not m�re than once a ya�r, Trustor shall �u�nish <br /> t� Lender a repart on eech ex�sttn9 policy of �nsu�anc� �howing: {i y the name vf the insurer; �Z� the risks <br /> insured; t3� the �maunt af th� palicy; t4f the p�up�rty �nsured, the then current replacemenx �alue vf such <br /> prope�ty, and�hs m�nn�r of dst�rmzntnq that�alue; ��d �5f th�expi�ation dete of the poticy. Trustar shall, upon <br /> request a�`L�nder. ha�e en independent appra�$er satis#aGtory t�Lender determine the c�sh�a�ue�repl��ement cost <br /> of ihe Property. <br /> TA}�AND INSURANGE RESERVES. Su�rject ta any limit�tians end consist�nt�rith any requirem�nts set by applic�b�� <br /> law, Lsnde� may require �rustar to maintain with Lgnda� reaerves for payment of annuei taxes, assessmants, and <br /> insurance premiums, wh1Gh reserves sh��l ba created by an �nitial deposi� and subsequent manthly payments, vr <br /> peyments at such othar int�rval a�p�yment�unde�the Note may ba due,of a sum esiimated by Lender to be suffiGient <br /> ta� pay the tvtel annuai taxes, a�a�ssments, and insurance premiums �ender r�ascnab�y anticipates t� be paid fram <br /> th�se rese�ve�. T�e reserv��unds sh�tl de h��d by Lander es a ge�e�a�depvsit from T�ustor, which Lend�r m�y�atis�y <br /> by payr�nent af th� taxes. asse��m�nts. and insuranc� premiums required tv be paid �y Trust�r as they be��me due. <br /> Lender shall h��e the right ta dr�v+e upan the resenre tunds to pa� such items. and Lender shas� nat be rsquired to <br /> determine the �alidity or eccuracy of any item befvre pey�n� �t. Nathing in the Deed a� Trust shall be �onstrued as <br /> requiring Lendar to ad��nce Qther monies far suGh purpEos�s. and Lender sh�ll n�t incur�ny liabi�ity for enything it mey <br /> do or amit tv da wEth re�pect ta� tha reserve aGcount. Sub�ect t� eny lim�t�tions ��t by applic�bl� lsw, �#the res���e <br /> funds discla�� � shortage or defiCiancy, Trustar �hal! pey �uch shortage vr deficiency as requirad k�y L�nd�r. Aii <br /> amounts in tha res�n�e ac�ount arp her�bY pled9ed to further�cure the lnd�btedness� and�.ender is h�reby au#hvriied <br /> to with�raw and apply such�mounts an the Indebtedn��s upon the oc�urrenc�of an E�ent of Daf�uit. Lender shall not <br /> be requ�red ta pay any interes# vr �arninga vn tt� reaarve funds un�ass requlred by !aw �r agr�ed tv by Lender in <br /> writing. Lender does no�hoid tha reser�e funds in trust for T�us#ar. an� Lender is nat Trustor's egent fvr payment vf <br /> the taxas and assessments requirsd to he p�id by Truator. <br /> LENaER'� EXPEND�"�UR�S. tf any action or prv�eeding is Commenced xh�at wouid materiai�y �f�ect Lender's inter�st In <br /> �he� Prop�rty or i#Trusto�r fai�s to Gomply with any pro�ision of this Deed a�F Trust�r�ny R�lated Documents, including <br /> hu� nvt iimited ta 7rustar's failur� to di�charge or pay when due any �mounts Trustvr is required tv discharge ar pay <br /> under this D�ed�f T�ust vr any Relatsd l3ocuments. Lendsr an Trusto�'s behal�may tbut shall nat b�o�ligated#oy t�ke <br /> any a�tion that Lender deems apRropr�ate. including but nvt limit�d to discharging or paying afl taxes. iiens, security <br /> intarests,en�um�rences and ott�r�laims,at any time le�►►ied or�a�e�ed Qn the Rropgrty�nd paying a!!costs far insursng, <br /> mainteining and pres�r�ing the P�roperty. All su�h exp�ndituxas incurred �r paid by Lender fvr such purpase�s wi!! th�n <br /> b��r intares# at th� rate �her�ad und�r ths Nvte �rt�m th�date in�urr�d ar p�id by Lander ta the date vf rep�yme�nt k�y <br /> Trustor. AI� such expenses wili bscom@ a part v# the indebt�dness and� at L�nder's vption� wil� �Ay �e pay�b�e an <br /> demand; �By be adder! to the bal�nce o# the Nr�t� and be apportivn�d among and bs p�yabRe with �ny instal�ment <br /> payments to �ecome due during �ither t�� the ternn of any app�i�abie insurance poficy: ar ��y the remeining t�rm of <br /> the Nate; ar �C� ae treated es a balloon payment which will be due and payable at the Note's maturity, The Deed of <br /> Trust also wtll secure paymsnt of these amount�. Such ri�ht shail tie �n �ddition to a!! ather rights end remedie� ta <br /> whi�h Lender may be entitl�d upan Default. <br /> WA�RANTY:DEFENSE QF TITLE. Tha fvtlowing pro�isions���ting to awnsrship af the ProQerty�re a p�rt of this Deed <br /> of Trust: <br /> Tit1e. Trustor warrants that: taj Trustor holds guod e�d m�rketeble t�tle �f racard to the Property in �e�e simple, <br /> free and clear of all liens and gncumbr�n�as a�ther then tho�e set farth in the Reai Property descrip#io�n ar in any <br /> title snsur�n�s policy, title �eport� �r �inal title opinion isaued in fe�or of� and accepted by, Lender in cannection <br /> with this Deed�f Tr�st� and t�y Tru�tor has the ful�rf�ht, pow�r� and authority to�xecute and deli�er this�eed of <br /> Trust to Le�nder. <br /> De�ense of Titla. Subj�ct ta the ��ception in the perearsph abo�e� Trus�ar warrants �nd w��f fore�e� defend the <br /> ti�tla to the Rroperty e�ainst thg lawfu�cta�ms�f��I psrsvns, In the��ent�ny �cti�n vr proceeding is commen�ed <br /> that qusstians Tru�tor's tit#e or the interest of Trustee or Lender under thi��eed of Trust,Trustor shail defend th� <br /> action at Trusta�r's e�x�nse. Trusta�r nnay�the n�m�nal party�n such pra�eed�ng, but Lender shel��e sntitled to <br /> p�rti�ipat� in the prQceeding and to be reprg$ented in the proceedin� by cvunsel vf Len�er's awn choice, end <br /> Trustor w'r��delivsr� ar ceuse to be de�i�er�d,tv L�nder�uch i�nstruments as Lender m�y request from tim�t�time <br /> to permit�uch psrtf�ip�tion. <br /> Compfiance 1N�th Lews. Trustor warrants that the Property and 7rustar's uss ofi�hs Rroperty comp�ies with s�[ <br /> existing applic�bie laws,vrdinances, �nd re�ulstions o'F g�vernmentei euthQ�iti�s. <br /> Sun►i�a� o� Repre:ant,et�Ons and Warrsntiva. AI� repre�eni�tion�, warranties� �nd agreements made by 7rustor �n <br /> this Deed vf Trust shali survi�e the�xecution and d�li►►ar�of this Deed of Trust, shall be continuing in nature�, �nd <br /> sha��rem�in in full f�rc�an�e�fect untit�u�h�jme as Tru�tor's Indebtedn�ss shall be pard in tufl. <br /> C�NDEMNATIQN. The failowing�ro�isions r�lating to condemna�ion pro�eedings ece�part vf this Qeed of Trust: <br /> Pr��eedinss. !f any procaeding in condemn�ti�n is filad� Trustor shal� pramptly notifiy Lender in writing, and <br /> TrustQr sh��� pramptly take such steps �s may be n�cassary tc�defend the ection and vbtain the �ward. Trust�r <br /> may be the naminal party in�uch pcqGeeding. but Lend�r sh�ll b�en�itlgd ta p�ar�icipate in the proceeding�nd to be <br /> repr�sented in the pr�ace�dir�g by caunse�l of its �wn ch�ice� and Trustor wi�� deli�er or ceuse to k�e deli�er�d t� <br /> Lender such instruments �nd do�umentatian as mey be r�que�sted by �.ender fram time to time to permit such <br /> participation, <br /> Applic�t�on of Net Pro�a��, ff�I!or any part�fi the Property is condemned by eminen#dom��n proceedings or by <br />