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2� 15�8444
<br /> DEED �F TRUST
<br /> �Continued] Pag�4
<br /> in effect, complianre wi#h the Ensurance prv�isions contained in the instrument evidencin� such Existing
<br /> Indebtedness shall �onstitute c�mpliance with the insurance pravisions unde� this �eed of T�ust, to the extent
<br /> complianGe with the terms of this �eed of Trust►rvould �ons�itute a dupfication of insurance requirement. If any
<br /> proceeds from #he insurance became payable on loss, the pro�ision� �n this C]eed o�Trust fvr�i�ision of proceeds
<br /> shall apply only tv that pvrtion o�the prooeeds not payable tv the ho�der�f the Existing lndebtedness.
<br /> Trust�r's Repart an Insurance. Upon request of Lender, h�we�er not mvre than vnce a year,Trusfvr shall furnish
<br /> to Lender a repvrt on each existing policy vf insurance shvwing: ('I} the name of the insurer; �2} the risks
<br /> insured; �3} th� amount of the pvli�y; �4} the property insured, the then current replacement va�ue of such
<br /> property, and the manner af determining that�a1ue; and �5} �he expiratian date o�F the pv[icy. Trustor sha1l, upon
<br /> request�f Lender, have an independent appraiser satisfac�ory to Lender determine the�ash value replacement cos#
<br /> of the Pr�perty.
<br /> LENDER'S EXPEN�1TllRES. t�any activn or prooeeding is cvmmenoed that would materially a�Fect Lender'S interest in
<br /> the Property or if Trustor fails tv cvmply with any pro�isivn of�his D�d of Trust or any Related Dacuments, including
<br /> but not fimited tv T�us�or's faiiure to comp[y with any abli�ation�v maintain E�ds��ng Indebtedness in goad standing as
<br /> required below, o�to discharge o�pay when due any amvurrts Trustor is required to discharge or pay under this Deed of
<br /> Trust vr any Rela�ed Documents, Lender on Trusto�'s behal�may �but sha11 not be obligated ta}take any acr�on tha#
<br /> Lender deems apprvpriate, including bu� not limited to discharging or paying aEl taxes, liens, security interests,
<br /> encumbranaes and othe� claims, at any fime le�ied ❑r plaoed on the Property and paying all costs for insuring,
<br /> maintaining and preserving the Property. All such e�endi�ures incu�+�'ed vr paid by Lender far sucn purpos�s wi��then
<br /> bear interest at the rate charged under the Nate from the date incuRed or paid by Lender to the date of repaym�nt by
<br /> �rustvr. Ai! such e�er�es wi11 �me a par�of the Inc�ebtedn��ss and, a� Lenders optifln, will �A} be payable on
<br /> demand; {B} he added to the balance of the Nvte and be apportioned among and be payable w�th any installment
<br /> paymen�s tv beoome due during eithsr (1} the�erm nf any app�i�abl�insuranoe p�licy; �r ��} the remaining term af
<br /> the N�te; vr ��} be treated as a�alloon paymen�wh ich wi I I be due and payahie at�he Nate's matu rity. The Deed af
<br /> Trust also wili secure payment�f these amounts. Such right shall be in addition to aii o�her righ�s and remedies tv
<br /> which Lender may be entit�ed upon Default.
<br /> WARRANTY; DEFENSE�F TlTLE. The following pra�isi�ns relatin�to ownership❑f the Property are a part of this l]eed
<br /> of Trust:
<br /> Tit1e. Trustor warrants that: �a}Trustvr holds goad and marketable t��le of record ta the Property in fee simple,
<br /> �ree and clear of all Iiens and encumbrances other than those set forth in �he Reai Properiy descriptivn or in the
<br /> Exis�ing lndebtedness section below vr in any title insuranoe palicy, title report, or fnal title opinion issued in fa�or
<br /> of, and accep'ted by, Lender in cnnnectivn with this Deed of Trust, and �b}Trustor has the full right, power, and
<br /> authority to ex�cute and deli�er thEs Deed of Trust to Lender.
<br /> De�ense of Ti#le. Subject to the exception in the paragraph abave, Trustor wartants and wiil �ore�er defen�the
<br /> tit[e to the Pr��e�ty against#he lawful claims of af�persons. In the event any action or pro�eeding is commenced
<br /> that ques#ions Trus#or's title or the interest of Trustee or Lender under this Qeed of Trust,Trus�or shall defend#he
<br /> activn at Trustor's expense. Trus#or may be the nominai party in such proceeding, but Lende�shall be entitled tv
<br /> participate in the pr�ceeding and tv be represented in the proceeding by counsel of Lender's vwn chai�e, and
<br /> Trustvr wili deli�er, or cause to be deli�ered,to Lender su�h instruments as Lender may request from time#o time
<br /> to permit su�h participation.
<br /> Camplianee 1rVith Laws. Trustor►nrarrants that the Property and Trustor's use of the Praperty complies with all
<br /> existing ap�licab�e laws, ordinances,and regula#ions of go�ernmental auth�rEties.
<br /> Survi�al ❑f RQpresen�ations and lll�arranties. All representations, waRan#ies, and agreements made by Trustor in
<br /> this Deed of Trust sha�l survi�e the execution and deli�ery o��his Deed of Trust, shail be continuin9 in nature, and
<br /> shall remain in full force and e�ffec�until such time as Borrower's lndebtedness shalf be paid in full.
<br /> EXISTING 1NDEBTE�NESS. The follow�ng pro�isians concerning Existing Indehtedness are a par�❑f this Deed of Trust:
<br /> Exist'rng Lien. Th� lien af this Deed af Trust securing th� Indebtedness may be secondary and inferiar to an
<br /> existing lien. Trustor expressEy cavenants and agrees tv pay, or see to the payment o�, the Existing lndebtedness
<br /> and�a pre�ent any default an suGh indeb�edness, any default under the instrumen�s evidencing such indebtedness,
<br /> or any default under any s�curity dacuments for such ind�btedness.
<br /> Na I�Iodification. Trustor shall not enter into any agreement►rv�#h the holder of any mortgage, deed of�rust, or
<br /> o�ther security agr�emenf which has pr�o�ity o�er this Deed o� Trust by which that agreement is mvdified,
<br /> amended, extended, or renewed wi�hout the prior written consen� of Lender. Trusto� shal! neither request nor
<br /> accept any future ad�ances under any such security agreement without fhe privr written consent of Lend�r.
<br /> CaN�EMNATi�N. The�aEi�wing pr��isions rela�ing ta condemnatian praceedings are a part af this Deed of Trust:
<br /> Praceedings. !f any praoeeding in vandemnatian is filed, Trustar shall promptly notify Lender in writing, and
<br /> Trustvr shall prvmptly take such steps as may be r�eoessary to defsnd the action and�btain the award. Trustor
<br /> may be the naminal party in such prooeeding, but Lender shafE be entitled tv parti�ipate in�he prvaeeding and�o�e
<br /> represe�rted i n the prvoeed�ng by caunse! of its own ch vi oe, and Trustor w i I I dei i�er or cause to be del i�ered to
<br /> Lender such ins�ruments and documen�ation as may be requested by Lender�rom time ta time tv permit su�h
<br /> participation.
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