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� . 2� 15�84�3 vEEa oF TRusT Loan N�: ��1�9�5�1 �C�ntRnued} Page 4 form, amoun�s, cvWerages and basis reasvnably accepta�le to Lender and issued by a cvmpany or companies reasonably ac�eptab�e t❑ Lender. Trustor, upon reques� v� Lender, will deli�er to Lender from fime to time �h� polEci�s or certificates ❑�f insurance in fflrm satis�actory�❑ Lender, in�iuding sfipula�ians that ca�erages wifl no� be cance[led or diminished wi�hou� a� least ten ��} days prior written no�ice �o Lender. Ea�h insurance policy a[sa shalt include an endorsement pro�iding fihafi co�erage in fa�ar of Lender wi[[ nat i�e impaired in any way by any act, omissian ar defau�� of Trustor ar any other persan. Should the Reai Praperty be lo�ated in an area designated by �khe Adminis�rato�o��the Federal Emergency lVlanagement Agency as a specia� flood hazard area, Trustvr agrees �❑ obtain and maintain Federal Flv�d Insurance, if a�aiiable, with�n 45 days after notice is g�Wen by Lender tha� th� Praper�y is located in a special flood hazard ar�a, �or�he full unpaid principal balance ofi the loan and any prior liens on the proper�y securing the [oan, up t❑the maximum palicy limits se�under the Natianai Fiood Insurance Pragram, ar as otherwise required by Lender, and to main�ain such insurance�or the term of the loan. Application af Proceeds. Trustor shall prompt�y no�ify Lender ❑� any ioss or damage #❑ �he Property. Lender may make prao� vt loss if Trustar fails to do so within �i�te�n ��5} days ofi the casualty. Vllhe�ther o� nofi Lender's : security is impaired, Lender may, at Lender's e��ction, recei�e and retain �he proceeds ❑f any insurance and apply the proceeds �a the reductEvn vt the Indebtedness, payment af any iien a�fec�Eng �he Proper�y, ar the res�ara�ion and repair vt the Prvperty. l� Lender elects to apply the praceeds fio restoratEon and repair, Trustor shai! repair or replace the damaged or destrayed �mpro�ements in a manner satis�actary ta L�nder. Lender shall, upan sa�is�actory proo� o� such expenditure, pay ❑r reimburse Trus�or �rom the proceeds far the reasonable cvst ❑� repair or r�stora�ion if Trus�or is not in de�ault under this Deed fl� Trus�. Any proceeds which ha�e not been dEsbursed within 18D days after �heir re�eipt and wh�ch Lender has not commi�ted to the repair or res�ara�ian of th� Property sha�� be used first to pay any amount ❑wing tv Lender under�his Deed af Trus�, then tv pay accrued interest, and �he remainder, if any, shal[ be applied �❑ the principa� �aiance of the lndebtedness. 1f Lender holds any proc�eds after payment in tull ot the lndebt�dness, such proceeds shall be paid �o Trustor as Trus#�r's inte�ests may appear. , Cvmpliance with Existing lndeb�edness. During the period in which any Existing Indebtedness described be�ow is in efifiect, cvmpiian�e with the insurance pra�isians �antained in �he ins�rument e�iden�ing such Ex�sting Indebtedness shall �ans�i�u�e complian�e with the insurance pro�isions under this ❑eed ❑� Trust, to �he exten� c�mp[ian�e with fihe te�ms ❑f this �eed of Trust wouid cans�titu�e a duplicati�n ❑f insurance requirement. I� any praceeds f�-om �he insurance became payable on Ioss, the pra�isions in this ❑eed o�Trust far di�isian of proceeds shal! apply onfy to that portion of the praceeds not payable t❑the hv�der vf the Existing lndebtedness. � Trus#or's Report an [nsurance. Upon request❑f Lender, hvwe�er not mvre than ❑n�e a year, Trus�or shall furnish ' �o Lender a repart on each exis�ing policy of insurance showing: �� the name ❑� �he insure�; �2} the risks insured; �3y the amount a� the policy; {4f the property insured, the then currenf replacement �alue vf such praperty, and the manner of determining tha��alu�; and {5y the expiratian da�e ❑f fihe policy. Trus�or shall, upan request❑f Lender, ha�e an indep�ndent appraiser sa�is�a�tory ta Lender de�ermine�he cash Walue r�placement cast of the Property. : LENDER'S EXPENDITURES. I� any a�tion vr p�-aceeding is commenced tha�wou�d materially a##ect Lender's interest in the Property or if Trusto�fails to compfy with any pra�isivn of this Deed of Trust ❑r any Related Documents, inc�uding bu� not limited �❑ Trustor's failure to comply uvi�h any ❑bEigation to maintain ExEsting ]ndeb�edness in good sfianding as � requ�red below, or to discharge or pay when due any amaunts Trustor is required�o discharge or pay under this Deed nf Trust ❑r any Reia�ed Documents, Lender on Trustar's behal� may �but sha11 nat be obligated �a� take any ac�ion �hat � Lender deems appropriate, includ�ng but nv� iimEted ta discharging or paying all �axes, liens, s�curity infierests, encumbrances and other claims, a� any time le�ied or placed on the Pr�perty and paying all cos�s tor insuring, maintaining and preserWing the Proper�y. A!I such �xpenditures incurred or paid by Lender �or such purposes wil� �hen bear in�erest at the rate charged under the Not� from �he da�e �ncurred �r paid hy Lend�r to the date v� repayment by Trus�ar. A[� such expenses wi!! become a par� of the �ndebtedness and, at Lenderts optivn, will �A� be payabl� on demand; �B� be added to �he ba�ance of the Nofie and be apportioned among and be payab�e with any ins�allment payments to becom� due during either �1 f fihe term o� any app��cabie insurance p�licy; or �� he �-ema�ning term �� �he No�e; or {C� be �rea�ed as a balloon payment which wi�I be due and payabl� afi fihe Nvte's maturifiy. The ❑eed o� Trus� also wi�l secure payment of these amoun�s. Such righ� shall be in additivn �a all vther righ�s and remedEes to which Lender may be enfi�t�ed upon Defaul�. VtiIARRANTY; ❑EFENSE�F TITLE. The following prv�isivns relating f❑ ownership of�he Prop�rty ar� a part❑�this ❑eed ❑f Trus�: Ti�le. Trustar warran�s #hat: �a} Trustor holds good and marketable title fl� recvrd �a �h� Proper�y in fee simpie, #ree and clear ❑� all li�ns and encumbrances other �han those se� �o�fih in �he Real Property description ❑r in the Exisfi�ng lndebtedness sectian below ❑r in any��e insurance poEicy. tit�e repart� or finai�i�le opinion issued in fia�vr v�F, and accepted by, Lende� in c�nnectivn with this ❑eed �f Trus�, and �b� Trustar has the full right, �ower, and au�hority�❑ execute and deli�er this Deed of Trus�t❑ Lender. Defense of Ti#le. Subject t❑ �he excep�ion in �the paragraph abo�e, Trus�or warrants and will fiorever de�Fend the . �itle t❑ �he Property againsf�h� law�ul claims of al� p�rsans. In the e�en� any activn flr praceedin� is commenced that quesfi�ons Trustv�-`s �i�le or�he interest�t Trusfiee flr Lender under this D�ed o�Trust, Trustvr shall de�end the ac�ian at Trusto�-'s expense. Trustor may be the nominal party in such proc�eding, lout Lender shall be enti�led fi❑ participate in the praceeding and to be represen�ed in �he proceedin� by counsel of Lender's own choice, and