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2� 15�8158
<br /> DEED �F TRU�T
<br /> Loan N�: 7��'I��75 ���nt�nued} Page 3
<br /> company or cvmpanies reasonab[y acceptabl� t� Lender. Trustor, upvn requesfi vf Lender. v►ri[[ de[��er to Lend�r
<br /> -�ram time to time the policies or cer�ificates of insuranc�in �Farm sa�isfactory to Lender, including sfiipulations that
<br /> co�erages wiI[ not be cance[[ed or diminished without at leas�ten �'��) days prior written natice tv Lender, Each
<br /> insuran�e po[icy also shal[ inc[ude an endorsem�nt pro�iding �ha� co�erage in favor of Lender wiEE not be impaired
<br /> in any way by any act, om�ssion vr default v€Trustor or any other persvn. Should the Rea1 Property be [ocated in
<br /> an area designated by the Administra�or of the Federal Emergency Managemen�Agency as a spec�al flvod hazard
<br /> area, Trus�or agrees t� �btain and mainta�n Federal Flvod [nsurance, if a�ai[ab[e, fior the ful! unpaid principaE
<br /> ba[ance of the [oan and any prior[iens on the property se�uring the laan, up ta fihe maximum palicy limits set under
<br /> the NatianaI F[ood Insuran�e Program, ar as v�herwise requir�d by Lende�-, and to maintain such insurance for the
<br /> �erm of�he Ioan.
<br /> Applicat�vn o�r Proceeds. Trustor shall promp�ly notify Lender of any loss or damage t� �he Property. L�nder may
<br /> make proo� of [oss i� Trustor fai[s to do s� within fif�een �'i 5} days of �he casua[ty. Whether or not Lender's
<br /> securi�y is impaired, Lender may, at Lender's el�ction, recei�e and reta�n the proceeds vf any insurance and app[y
<br /> the p�-viceeds to the redu�tion o��he lndebtedness, paymenfi of any lien affecting the Property, or the restoration
<br /> and repair o�the Property. If Lender elecrts tv apply the proceeds�a res�vration and repair, Trustor sha11 repair or
<br /> replace �he damaged or destroyed lmpro�ements in a manner sa�isfa�tory to Lender. Lender shaE�, upnn
<br /> satisfac�ory prov� of su�h expenditur�, pay or reimburse T�ustor from �he pr�ceeds for th� reasonab[e cost o'�
<br /> r�pair or rsstvration if Trus�ar is not in defau[t under this Deed of Trust. Any proceeds v�rhich ha�e not been
<br /> disbursed within �8� days after their receipt and which Lender has not cammitted to th� repair or restorativn of
<br /> the Praperty sha[[ be used firs�to pay any amount ov�ing to Lender under�his Deed �f Trust, �hen to pay accrued
<br /> �nteres�, and th� remainder, i� any, sha11 be app[ied �v the principal balance of the lnde�t�dness. ]f Lender ho[ds
<br /> any proceeds afiker payment in full of the Indebtedness, such proceeds sha11 be paid to Trustor as Trustor's
<br /> interes�s may appear.
<br /> Complian�e with Existing Indebtedness. ❑uring the period in which any Exis�ing lndebtedness described below is
<br /> in ef-Fect, camp[iance with th� insuran�e pro�isions conta�ned in �he instrumen� evidencing such Existing
<br /> lndebtedness sha[f constifiu�e compliance with the insurance pro�isions under th�s Deed of Trust, to the exten�
<br /> compliance with the t�rms of this Deed o�Trust wvuId �onstifiut� a duplicat�on of insurance requirement. If any
<br /> proceeds from th� insuranc� become payab[e an �oss, �he pro�isivns �n �his ❑eed vf Trus�for di�ision of proceeds
<br /> sha11 appIy only fio�hat portion of the prviceeds no�payable to the halder of�he Existing lnde�tedness.
<br /> LENDER`5 E�PENDITURES. ]f Trus�ar �ai�s {A3 to k��p �he Property free v� a�� �axes, liens, se�ur�ty �n�erests,
<br /> encum�rances, and other claims, �B� tv pro�ide any re��ired insurance vn the Property, �C� tv make repairs to �he
<br /> Prop�rty or tv comply w�fih any ob[Egation to main�ain Ex�sting Inde�tedness in �ovd standing as required E�elvw, �hen
<br /> Lender may do so. !f any action or proceeding is commenced that wou[d materially affect Lend�r's interests in the
<br /> Prvperty, then Lender vn Trusto�'s behaff may, but is not rsquired to, �ake any activn that Lender beIie��s to be
<br /> apprapri�t� fiv pro�ect Lender's interests. A�1 expenses ir�curred or paid by Lender for such purposes wi1� then bear
<br /> interest at the rate charged under the No�e �rom the dafie incurred or paid by Lender to the date �f r�payment E�y
<br /> Trus�or. AI[ such expenses wi11 becvme a part of the lndebfiedness and, at Lender's aption, wi11 �A) be payable on
<br /> demand; �B} be added �o fihe balance vf the Nate and be appor�ioned among and be payab[e with any insta�lmenf
<br /> payments to becvme due during eithe� ��} the term of any applicab�e insurance pvlicy; or �2� the remaining term af
<br /> the Nate; or {�} be treated as a baiioon payment v+rhich will be due and payahle at the Note's maturity. The De�d vf
<br /> Trus� also will secure paymen-t of�hese am�unts. The righ�s pro�ided �or in �his paragraph shall be in addition tv any
<br /> other rights or any remedies tfl which Lender may be enfiit�ed vn account of any defau[t. Any su�h acfi�on by Lender
<br /> shall no�be construed as curing the defau[t so as to bar Lsnd�r from any remedy that it otherwise wau�d ha�e had.
<br /> 1NARRANTY�DEFENSE�F TiTLE. The foi[owing provisions re[ating to ovunership of the Property are a part of�his Deed
<br /> o�Trust:
<br /> Title. Trus�vr warrants �hat: ta� Trusto�r holds gvod and marke�able tit�e �� recard to th� Property in �ee simp�e.
<br /> �ree and clear of all liens and encumbran�es o�her than thvse set�vrkh in the Rea1 Property description or in the
<br /> Existing lnd�bt�dness section below or in any�i-��� insurance policy,titIe repvr�, or final tit[e opinion issued in �a�or
<br /> vf, and accepted by, Lender �n �onnection wi�h �his Deed of Trust, and {b3 Trustor has the �ull right, power, and
<br /> authority to e�ecute and deli�er this aeed of Trust�� Lend�r.
<br /> Defense of Title. Subject to the e�ccep��on in the paragraph above, Trustor warranfis and will fore�er defend the
<br /> ��tle tv�khe Property against the lawful claims af afI persvns. [n the event any activn ar proceeding is �ommenced
<br /> that questions Trustor`s tit�e or th� in�erest❑�Trustee vr Lender under this ���d o�Trus�,Trustvr shai! de�fend the
<br /> actiQn at Trustor's expense. Trus'�or may be the nominaI party in such proc�eding, bu� Lender sha[[ be entitled to
<br /> participate in the prv���ding and to be represent�d in fihe praceeding by counsel o� Lender's own choice, and
<br /> Trus�or will de[i�er, or cause tv be deli�e�ed, ta Lender such instruments as Lender may request from�ime tv time
<br /> fio permit such participation.
<br /> CompIian�� �Jllith Laws. Tr-ustor warrants tha� the Praperty and Trustor's use o� �he Property comp[ies with ali
<br /> existing applicable [aws,ordinan�es,and reguEations o�go�ernmentai authori�ties.
<br /> Surrrival of Promises. A�� promises, agreements, and statements Trustor has made in this De�d o� Trust shai�
<br /> survi�e�he execution and de[i�ery o��his Deed of Trust, shalI b� confiinuing in na�ure and sha[[ remain in �u�l force
<br /> and eff�ct un�i[such time as Bvrrvwer's lnd�htedness is paid in�uI[.
<br /> EiC[STING [NDEBTEDNESS. The foIlowing pro�isivns concerning Existing Indebtedness are a par�o�f this Deed of Trust:
<br /> Exist�n� Lien. The [ien of �his Deed of Trust securing �he [nd�btedness may bs secondary and inferior to an
<br /> e�isting �ien. Trustor expressly cv�enan�s and agrees �o pay, vr see to the payment o�F, �he Exis�ing [ndebtedness
<br /> and�v pre�en�any defau[t on such indeb�edness, any de�ault under the instruments evidencing su�h indebtedness,
<br /> or any defaul�under any security documents for such indeb�edness.
<br /> Nv Modi�cat�on. Trustor shal[ n�t �nter infiv any agreemenf with th� holder v� any mortgage, deed of trust, or
<br /> o�her securi�ty agreement which has priori�y v��r �his Deed of Trus� by wh�ch that agreement is modified,
<br /> amended, �xtended, or renewed without the pri�r wr�itten consent vf Lender. Trustor shaf� neither requsst nvr
<br /> a�cept any future ad�ances under any such security agreement without th�prior written cvnsent of Lender.
<br /> CflNDE�Ir1NAT[UN. The follov►ring provisions relafing to condemnation pro�eedings are a part vf this ❑eed vf Trust:
<br /> Proceedings. lf any p�viceeding in Condemnativn is f�[ed. Trus�or shall promptly noti�Fy Lender in writin�, and
<br /> Trustvr sha[[ p�-omptly take such st�ps as may be necessary to defend the ac�ion and ob�ain the award. Trustor
<br /> may be the nominal party in such proceeding, hut Lender shall be entit[ed�o participate in the proceeding and tfl be
<br /> represented in the proceeding by cvunsei of its own cho�ce, and Trustor wi1[ de[iver or �aus� to be dsli�ered to
<br /> Lender such instruments and documentatian as may be reques�ed by Lender fr�m �ime to time ta permit su�h
<br /> participativn.
<br /> Applicat�on o�F Net Proceeds. 1�a�� or any part Q�the Proper�y is cand�mned by eminent dvmain praceedings or by
<br /> any proceeding v�purchase in Iieu vf condemnativnF Lender may at its electivn require�hat all o�any portian of the
<br /> n�t proceeds o�the award be applied tv the Endeb�edness or the repair vr restoration v� the Proper�y. The net
<br /> prviceeds of the av►rard sha11 mean the award af�er payment of a[[ reasonabie cvsts, expenses, and attorneys' fees
<br /> incurred by Trustee vr L�nder in connect�vn vvith the condemna�ion.
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