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2� 15�84�4
<br /> � DEE�3 �F TRUST
<br /> Lvan Nv: 'I���9�498 ��ontinued} Page 4
<br /> the proceeds to th� reductivn of the lndeb�edness, paymen� o� any lien affecting the Property, ❑r the res�ora�ian
<br /> and repair ❑f the Property. If Lender elects to apply�khe prn�eeds to restoration and repair, Trus�or shall repair or �
<br />' replace the damaged �r destroyed lmprv�ements in a manner satisfac�ory to Lender. Lender shall, upnn
<br /> satis�actvey proof a# such expenditure, pay �r reimburse Trus�vr from the proce�ds for the reasanable cost ❑�
<br /> repair or restoration i�F Trustar is n�t in defaul� under this ❑eed of Trus�. Any pr��eeds which ha�e nv� been
<br /> disbursed wi�hin �8� days after their receipt and which Lende�- has not commit�ed to the repair or restara�tEon ❑�#
<br />� �he Prope�ty shall be used �i�-st fio pay any amoun� ❑wing�❑ Lender under this Deed of Trus�, then to pay accrued
<br /> in�erest, and -�he remainder, if any, shall be applied t❑ the principal balance of�he lndeb�edness. l� Lender holds
<br /> any proceeds after payment in full of the lndeb�edness, such proceeds shall be paid t❑ Trustor as Trustar's
<br /> in�eres�s may appear.
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<br />� �vmpliance with Exis#ing �ndebtedness. ❑uring the period in which any Exis�ing lndeb�edness described below is
<br /> in e�fect, campliance wi�h the insurance prvWisions �on�ained in the instrument evidencing 5L1Ch Exis�ing
<br />� Indel�tedness shail consti�ute cvm��iance with the insuran�e prv�isivns under this Deed of Trust, to the extent
<br /> compliance with �he terms a�this Deed of Trust wou[d cons�i�u�e a duplicatinn of insurance requ�rement. lt any
<br />. proceeds from the insuran�e he�ome payable an loss, the pro�isions in this Deed of Trus�for di�ision of proceeds
<br /> shall apply❑nfy-�o�ha�portEvn o-F the praceeds not payable tv the holde�-❑t the Existing �ndebtedness.
<br /> T�us#or's Repvrt vn Insurance. Upon request o� Lender, howe�er nofi more�han ance a year, Trustar shall �urnish
<br /> tv Lender a report on each existing po�icy ❑f insurance shvwing: �1} the name ❑f the insurer; ��} the risks
<br /> insured; {3} th� amount o� the policy; �4} �he property insured, the then current rep�acement �alue �� such
<br /> proper�y, and the manner o�de�ermining that�alue; and �5} the expiration da�e v�fihe policy. Trusfior shall, upon
<br /> reques�of Lender, ha�e an independent appraEser sa�isfactvey to Lender de�ermine�he cash�alue replacement cos�
<br /> o�the Property,
<br /> LEN�]ER'S EXPENDITL]RES. 1�any a�tian or pra�eeding is commenced that wvuld materia�ly af�ec# Lender's interest in
<br /> the Prvperty or i�Trus�vr fails�v comply with any proWisian ���his Deed ❑f Trus�or any R�lated Documents, including
<br />, bu� not limited�o Trus�or's failure ta comply wi�h any vbligation �o maintain Existing Indebtedness in gaod standing as
<br />� required�}�e1ow, or t❑discharge ar pay when due any amounts Trusfivr is required to discharge ar pay under�his I�eed of
<br />. Trus� ar any �ela�ed �ocuments, Lend�r on Trustvr`s behalf may �but shall not be obliga�ed to} �kake any ac�ion fiha�
<br /> Lender deems apprvpriate, in�luding but not limi�ed to discharging ar pay�ng a!I taxes, liens, security interes�s,
<br /> encumlarances and other claims, a� any �ime le�ied ❑r placed on the Praper�y and paying all �vsts far insurEng,
<br /> main�aining and preser�ing the Prvperty. A!I such expenditures incurred or paid by Lender�vr such purpases will then
<br /> bear in�erest at the rate charged under the Note �rom �he da�ke incurred or paid by Lender fi❑the date ❑f repayment by
<br /> Trus�ar. All such expenses will become a part ❑fi the Indebfiedness and, at L�nder's option, wifl {Aj he payable an
<br /> demand; {B� be added �a the balanc� af �he Nvt� and be appor�ioned among and be payable wi�h any insta�finen�t
<br />; payments ta become due during ei�her �1} the�erm o� any applicable insurance policy; ar �2} the remaining term of
<br /> � the No�e; or �C� be treated as a bal{aon payment which will be due and payable.a��he Nvte's maturi�y. The Deed vf
<br />� Trus� alsa will secure payment ❑t �hese amaunts. 5uch right shaCl be in add�tion to all other rights and remedies tv
<br /> which Lender may be enti��ed upon❑efault. �-'
<br />� WARRANTY; DEFENSE aF T�TLE. The fvllowing prv�isians relating�❑ownership of�he Property are a part of�his ❑eed
<br /> ❑f Tr-ust: �,
<br /> Ti�le. Trustor warrants �hat: �a� Trus�vr ho[ds gavd and marketab�e �kit[e of r��vrd tv �he Property in fee simple,
<br /> free and ckear af a[� liens and encumbrances other than fihvse sefi fv�-th in �he Real Property descript�on or in the
<br /> Existing lndebtedness section belvw or in any title insurance policy, title repor�, or final�ki�kle ❑pinion issued in�fa�or
<br /> of, and accepted k�y, Lender in cvnnec�ian w�th this Deed o�Trust, and (b} Trustor has the full right, p�wer, and
<br />' authvrity to execu�e and deli�er this aeed vf Trust to Lender.
<br /> Defense v�Ti�le. Subject�❑ the ex�ep�ion in �he paragraph abo�e, Trustor warrants and wifl fiorever defend fihe
<br /> title to the Praperty against the Eawful �[aims of a�t persvns. Cn the e�ent any action or proc��ding is commenced
<br /> �hat questions Trustor's title or�he interest vf Trustee or Lender under this Deed of Trusfi,Trus�or shall defend the
<br /> action a�Trus�or's expense. Trus�or may be�he nomina! party in such proceeding, �u� Lender shafl f�e entitled to
<br /> parti�ipate in the proceeding and tv he represented in the�proceeding by counsel ❑f Lender's nwn choice, and
<br />' Trustar wili de[iWer, or cause to he deli�ered, �a Lender such instruments as Lender may request�From time to time
<br /> �v permit such participatian. ,
<br /> Compliance V11i�h Laws. Trustor warrants tha� the Proper�y and Trus�vr's use ❑f the Properky complies wi�h aEl
<br />: 'existing applicable Eaws, ordinances, and r�gu[ations of gv�ernmen�al authorifiies.
<br /> 5ur��val of Represen#atians and V�larranties. All representatEans, warran�ies, and agreements made by Trustvr in
<br /> this ❑eed of T�ust shall sur�i�e the execut�on and deli�ery of this ❑eed o�Trus�, shail be ��ntinuing in na�ure, and
<br /> sha�I remain in fu�I force and effect un�il such time as Trustor's indebtedness shall be paid in ful�,
<br />� EXISTING �NDEBTEDNESS. The fallow�ng pro�isions cancerning Exisfiing lndehtedness are a part vf this Deed af Trus�:
<br />� � •
<br /> Existing Lien, The lien af this Deed o� Trust se�uring �he lndebtedness may 1ae secondary and inferior to an
<br />� exEsting lien. Trustor expressly ca�enants and agrees�o pay, or see to �he paymen�of, fihe Existing lndebtedness
<br /> and�o pre�ent any de�aul�on such indeh�edness, any de�ault under the instruments ��idencing such indebtedness,
<br />� or any de�rault under any security documents for such indeb�edness.
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