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2� 15�8171
<br /> L7EE� �F TF�L�ST
<br /> .
<br /> Loan No: �7OD9�73 ��o�t�r�ue Page 3
<br /> impravernen�ts.
<br /> PR�PERT�f �]A�ACE iNSURAIVCE. The follawing provisians rela�ing ta insuring the Praper�r are a part o#this ❑eed ��
<br /> Trus�.
<br /> �[aintenanc� af �n�ur�n�e. Trusfior shal� pr�cure and r�ain�ain po�icies a� fire insuran�e �i�h standard e�ctended
<br /> coverage endorsemen�s an a replacement basis far the �u11 insurab�e value covering al! Imprflvements an the �eal
<br /> Praper�y in an amount suf�ic�ent to avoid app[icativn o� any cainsurance claus�, and �ith a standard rno��gagee
<br /> clause in favor a�Lender. Trustor shafi also procur� and maintain cflmprehensi�e gene�-a� Iiabi��ty insurance in such
<br /> caverage amoun�s as Lender may request.with Trustee anc� L�nder heing named as additivna! �nsureds in such
<br /> �iabi�aty insurance po��cies. �4dditianaliy, Trustvr sha[E ma.intain such o�her insurance, inciud�ng but no� limited ta
<br /> ha�ard� business interrup�ion, and boiler �nsurance, as Lender may reasanab�y �equ�re. Po[i��es sha[[ �e written in
<br /> form, amounts, co�erages and basis reasonably acceptabie ro Lender and issued by a company or companies
<br /> reasonab3y accep�ab[e to Lender. �rus�or, upon:r�quest of Lender, wili deli�er to Lender �rom �ime �a time the
<br /> policies vr c�rti��cates �f'rns�rrance in�or�n sa�is�ac�ory�a Lender, including stipulations that ca�erages will nat be
<br /> cancel�ed or dirrainished without at least ter� 4��� days privr wri�ten notice to Lender. �ach insurance pofscy a�s�
<br /> shall�nc[ude�n end��semen�providing that ca�rerage€n�a�rar of Lender vvill n�t be irr�pa�red in an}��ray�y any a�t,
<br /> omission �r defa�lt of�rustor ar any o�her person. 5hould the Rea� Property be 6�catee� in an area des�gnated by
<br /> th�Adrninis�ra�or��t�e Fede�al Emerg�ncy 1lllana�ement Agency as a sp�cial flood ha�ard area, T�us�cor agrees ta
<br /> obta�n ana maintain Federa� Flood �nsurance, i� avai�able, far the fu[I unpaid principa[ bafance o�€t�e [aan and any
<br /> pr�or Iiens an��he p�operty secur�ng �he [van, up tv �he maximum po�icy limits se� under �he National F�aod
<br /> Insurance Program, vr as vtherwise requ�recl by Lender, and to maintain such insurance far the term af the [oan.
<br /> App�ica#ivn o�f PrvGeeds. Trus�or shal� promptCy no�ify Lender o�any [oss or dama�e t�the Praper�y. Lender may
<br /> make proof o� loss if Trustar fails to da so wi�hin �rifteen {'[5} days of the casualty. Whether ar no� Lend�r's
<br /> securi�y is impaired, Lender may, a�Lenaer's e�ectivn, receive and retain �he prviceeds o�any insuranc� and apply
<br /> �he praceeds ta the reductivn of the Indebtedness, payment of any li�n a��ecting the Properfiy, or �the restv�-ation
<br /> and repair af�he Pr�per�y. �� Lender elects tv app.fy the proGeeds to resfiorat�on and repair, Trusto� sha�l repair or
<br /> replace �he damaged or des�troyed f mprvW�ments in a manner satis�aetvey tv Lender. Lender shall, upon
<br /> s�tisfa�tory proaf �f.such expendi�u�-e, pay or reimburse Trustar ��om �he proeeeds '�o� the reasanable ��st of
<br /> repair ar res�vra��an if Trustor is not in defau��t unde.r this Deed of Trus�. Any proceeds whict� �a�e no� been
<br /> disbursed vv�thin �8� days after aheir receipt and �nrhich Lender has no� commetted �o �he repair or restorat�an �f
<br /> the Property shal[ �e.used first to pay any amount owirag.tv Lender under this Deed a�Trust, then to pay accrued
<br /> �nterest, and.�he remainder, €�any, sha�i he app�ied to the princtpaf ba[an�e o��the lndebtedness. �� Lender ho[ds
<br /> any proce�ds a�ter payment €n �u�:� o� the Indebtedness, su�h proceeds shall he paid to Trus�or as Trustor's
<br /> interests may appear.
<br /> Trus�vr`s Repvr�vn Insuranc�. Upon request af Lender� hoW+re�er not more than once a year, Trustor sha[[ furnish
<br /> �to L�nd�r a report an each existing pol�cy o� insurance sho,wing: {'[� the name af �he insurer� ��} �he risks
<br /> insured; {3� the amaun� af �he palicy; �4} the pr�perty �nsured, the �hen eurrent replacement va�ue of su�h
<br /> property, and the manner o�F determining that vafue, and {�} the exp�ra�ion�a�e o�the policy. Trustor shal�, upon
<br /> request o�Lend�r, have an ind�penden�appraiser satisfactory to Lender determin�the cash�alue r�pfacement cast
<br /> of the Prope�-ty.
<br /> LEIVDER'S E�CPENDiTURES. �f any action or praceeding is c�mmenced that �ould materialSy affec� Lender"s in�e�est in
<br /> the Prope�ty or if:Trustor fails ta camp[y w�th any prv.visivn of this Deed a�T�us�o�any Re[ated Dacumen�s, incjuding
<br /> but not Iimited to Trustor's fai[ure ta d�s�harc�e ar,pay when due any amounts Trusto� is required to discharge or pay
<br /> under�his Deed of Trust or any Rela�ed Documen.ts, Lender on Trusto�-'s b�ha��may tbu�shall no� be oh[igated to} take
<br /> any action that Lender d�ems apprapriate, in�[udi:ng bu� nat fim�ted to d€schargEng or paying aff �axes; liens, securifiy
<br /> in�eres�s, encumbrances and o�her c�a�.ms, at any�ime [evi�d or p�aced on the P�aper�y and paying a�l costs�or insuring,
<br /> mainta�ning and pre�er�ing �he Praperty. Aii su�h expendi�ures incurred or pa�d by Lend�r fv�such purpases wil� then
<br /> bear inter�st afi the rate charged. under�he Note from the date incurred or paid by Lender-to the date o� repaymen�t by
<br /> Trustor. A1� such expenses wif f becflme a pa�t ofi �he lndehtedness and, at Lender's op�ivn, vir�11 �A� be payab�e on
<br /> demand; tB� be added to �he �alance af the No-�e and be apportianed amvng and be payabfe with any installmen�
<br /> payments to becnme due during`either {�1} the term af any appli�able insurance po[��y; �r ��} �he rema�n�ng term of
<br /> the No��; ar.�C,� he trea�ed as a.balloon payment v�rhich wi[I be,du� and payable a�the Nate's maturi�y. The D�ed a�
<br /> Trus� also wi[I secure paymenfi o� �hese amounts. 5uch righf shall be in add��Ean �o al� othe� rights and remedies to
<br /> �ivhich Lender may be en�itled upon De�fault.
<br /> �11(AI�RANTY� DEFENSE QF T1TLE. The�ollow�ng prflvisions re�ating t� ownership af the Praperty are a part of this ❑eed
<br /> of Trus�:
<br /> Title. Trus�or v�rarran�s that; {a� Trus�or ho[ds goad and marke�able tit�e o� �ecord to the Property in fee simpfe,
<br /> fre�and c��ar o� a�� �iens and en�umb�anc�s o�h�r�than �hose se�for�h �n �he Rea[ Praperty descript�on or in any
<br /> title insurance�po�icy, t�tle rep�r�, o�- -�inal fiifi�e opinion issued �n faWor af, and acGepted by� Lender in connec�ion
<br /> w3th this Deed of Trus�, and {b� Trustor has the full righ�, power, and au�ho�ity�o execute and de�iver�his Deed o#
<br /> Trust to Lender. �
<br /> Defense o��'i�ie. Subjec� �o the exception in �he paragraph abo�e, Trustar �nrarrants and wi[� �ore�er de�end �he
<br /> title to�he Pr-operty agains��he Iaw�u� ciaims of alf pe�-sons. In the eWent any action or proceeding is commen�ed
<br /> that questions Trustor's t€tie or�he in�eres�o�F Trustee ar Lender under this ❑eed o�Trus�,Trusto�-shall defend the
<br /> action at T�-ustor's expens�. T�us�o�- ma}� be the nominaE party in such proceeding, but Lend�r sha�I be entit�ed to
<br /> participafe in the pro�eeding and -�o be represen�ed �n �h� proceeding by couns�! a� Lender`s Qwn choice, and
<br /> Trusto�-wiil def i�er, ar cause�o be de[i�e�-ed, �o L�nder such instrumen�s as Lender may request�From t�me to t�mc�
<br /> to permEt such participation.
<br /> Compliance �111i#h Laws. Trustor wacrants �hat th� Praperty and Trus�vi�'s use vf the Prvperty comp[ies r�vith all
<br /> exis�ing applicable laws, ordinances, and regu[ations o�go�emmental authori�ies.
<br /> 5urvivat vf RepreS�ntations and V�larran�i�es. A�� representations, warranties, and agreemen�s made by Trustor in
<br /> this Deed of Trust shal[ sur�ii�e�he�xecutian and deli�e�y o�this�Deed of Trust, sha�� be con-�inuing in nature, and
<br /> sha[[ remain in fu[l force and effect until sr�ch tim�as Trustor's Indebtedness shaf[ be paid in�u�l.
<br /> C�NDEIVINATI�N. The f�llowing prvvisions relating to condemnation proceedings are a par�ofi tf�is Deed o�F Trust:
<br /> Proceedings, 1� any prviceeding in condemnafiian is filed, Trustor shal[ prompt[y no�E�Fy Lender in v�rriting, and
<br /> Trustor sha(I prompt�y take such steps as may be neGessary ta de�end the action and obtain th� award. Trustar
<br /> may�e�he nominaE party�n such proceeding, but Lend.er sha[f be ent�tled�o par�icipate in the proceeding and to be
<br /> €�ep�-esented in the proceeding �y caunsei o� its own choice, and Trustor wi[[ de�i�er a�- cause to be deCi�ered to
<br /> Lender such ins�truments and documentat�on as m�y �e reques�ed by Lender �rom tims t� �ime to permi� such
<br /> participa�ion.
<br /> App�ica��on af Nst Qrac�eds. 1�a€! or any par�of-�he Property is c�ndernned by erninent domain proceedings or by
<br /> any prviceeding ar purchase in 1'reu o�F�ondemna�i�n, Lende�may at its e�ect�an require�ha�aIl�r any portion of the
<br /> net proceeds of the award he appCied to th� Indeb�edness or the �-epa�r or res�ora�ion af the Praper�y. The ne�
<br /> proceeds of the award shall mean �he award after payrnen��f a�! reasonab[e �osts, expens�s, and attorneys' fees
<br /> incurred�hy Trustee or Lende�in connecfiivn wi�h the candemna#ion,
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