201508683 - Laserfiche WebLink

Browse

2� 15�8�83 I3EEL� �F T�LJST �Cot7tlrlued� Pag� 3 result❑f a fore�lvsure or sale under the lien. In any cante�t,Trustor shall d�fend itself�nd Lender and shall satisfy any ad�erse judgment befnre enforcement against the Prop�rty. Trustor shalf narne Lender as an additidna��blige� under�ny sur�ty bond furnished in the cantast prv�eedings. E�idence vf Payment. Trustvr shat!upon d�mand furnish tv Lender satisfectvey evid�n�e af p8yment af th�taxes ❑r assessments and shal!authorize the appropriate go�ernrnental vfficial ta d�li�er to l.end��at any time a written statement of the taxes end assessmsnts�gainst the Property. Notice of Gonstrucx�an. Trustor shall n�tify Lender at least fifteen t�5f days befare any w�rk is �ommenced, any ser�i�es are furnished, or any materials�re supplied to the Property, �f any mechanic'� lien� materialmen's li�n, vr other lien Could be assert�d on a�caunt o#the work, services. or m�teriels. Trustor will upan requsst of Lender furnish to Lender ad�an�e a�suran�e�s satisfactary �o L�nder that Trustor can �nd wi11 pay the cost of such impra��m�nts. PRQPERTY DAMAGE INSURANCE. The fvllowing pro�isians re�ating Ya insuring th� Property are a p�rt vf this Deed af Trust. Maintenance vf Insurance�. Trustar shalt pracure and ma�ntasn pviicies of fire insurance with standard extended ca�erage endarsements on e replacement basis far the fuEl jnsureale Walue Go�ering a�f Imprv��m�nts on the Real PraRerty in �n amount sufficien# to e�vid applicetian of any coinauran�e ciause� �nd with a stendar�! mort��ge� clause in fs�or vf Lender, Trua�or shall�iso pracure and mainta�n comprehensi�e gener�!liability insurance in�uch co�era9e amounts as Lender may request with Trustee and Lgnder being named a�s additional insureds �n su�h liability insurance pvlicies, Additinnal�y. Trustvr sh�t1 meintsin such athar insurence, including but not limited to hazard, busin�ss interrupt�vn. �nd �ailer insurence, as Lender may re�sonably r�quire. P�IiGie� shall be written in fvrrn� �mounts► �a��rages er�d basis reason�biy accepteble to Lender and issu�d by a camp�ny or cvmpeni�s reasonably acceptable to Lender. Trustor. up�n request af Lender� will deli�er to Lender frorn t�me to time the policies vr certificates af inauranca in form satisfactory to Lender, includ�ng stipula�ions that co►►ere�es wi�� not be eancelled v�diminished without at ieast th�rty t34j days prior written notice to Lender. Each insurance�olicy also shall include an endorsement pra��iding that cv�erage in fa�or vf Lender wil!nat be impaired in any way by any act, vmission❑r de�ault af Trustor or any other p�rsan. 5houid the Rea! Prapsrty be loc�ted in an �rea d�signated by the Administrator of the Federal Emergency Manag�msnt A9ancy as a special flovd hazard area,Trustor agrees ta obtain and maintain Federa! Flood tnsurance� if a►►a��ah�e, for the #ull unpaid principa� balancE �f the laan and �ny privr lians an �he praperty se�uring the laen, up tv the rnaximum Qalicy �imits set under the Netivnal Flovd insurance Pro�+r�m.or as otherw�se required by Lender,and to msint�in such insurance for the term�#the Ivan. Applica�ton a�f Proce�da. Truatar�Mell promptly not�fy Lend�r afi eny lass ar dsma�g�to the Pr�perty. Lander m�y make proaf of loe� if 7ruetor faile to da so ►n►�th�n fifte�n �15� days of th� cesu�lxy. Whe�ther vr nat Lendar's security fs impaired, Lander mey, at Lender'a el�ction� recaiv� and retsin the praceeds af any In$urance�nd apply the pracesd� ta the ret�uctian tif the Indebtedness, payme�nt a�eny lian effecting th� Property. or th� restQr�tivn and repair of the Property. if Lender elects ta �pply the p�oceeds ta restarativn end repair. Trustar shali repair or rep�ace the damaged vr destroy�d Impro�aments in a manner satisfactory to Lender. Lender shal�, 'upon satisfactory prvvf af such expenditure, p�y or reimburse Trustor frarn the pro�aed� for the reasanable Gost ot repair �r restaratian i� Trusto� is nat in defau�t under th�s peed vf Trust. An� proceeds which have not been disbursed within 'i 8a days after their receipt and which Lender has no# committed to the r�pair or rastoration of the Prvperty shaii be usad first to pay any amount vw}ng t�s Lender under this ❑eed af Trust. then tn pay accrued interest, and the remainder� if any. sh�ll he appiied ta�th� principal balance Qf tha Indebtedness. ff Lende� holds any proceeds a�Fter payment in full of the Indebte�ness, such proceeds shalE be paid t� Trusto� �s Trust�r's interest�may appear. Trustar's Roport on Insurance. llpan requgs#af Lendsr, h�awe�er not mare than once a year, Trustor sha�� furnish to Lend�r a repvrt on ea�h e�isting policy o� insurar�ce showing: t1 f the name �f the insure�; ��y the risks insurqd; {3) the amvunt of tha pvlEcy; �4f the property In�ured, the then �urrent r�placement �eiue of such proper�y, and th�manner of determining thet�a�ue;and ��y th�expiration date af the policy. Trus�or sheil, upon requa�t ot Lender, h��e an inde�ndent�ppreiser sati8#actory to Lender determine the�ash�a�ue repl�ce�ment cvat of the Property. TA�C ANQ INSURANCE RESERVES. Subjsct to any �imitations �nd �onsistent with any requirements set by applic�ble law, Lender may require Trus#or ta rnaintain with Lender reser��s for paym�nt af annuel taxes, assessments, and insurance premiums. which reserves shall be �reated by en in�tia� dept�sit and subsequen� month�y p�yments, ar payments at such Q#her inter'►ial as peyments under the Note m8y be due, ❑f a sum estimat�d by Lendar to be sufficient to pay thE totai annua� taxes, assessments. and insuran�� premiums Lender reasanably anticipates ta be paid frvm these reser�es. The res�n►e ftartids sh�l�be held by Lender as�g�neral dep�osit frvm Trustor, which Lender may sati�fy by payment af the taxes, a�sessments, and insura�nGe prgmiums required to bs paid by Trustor es they bacome du�. Lender sh�ll ha�a the right to drsw upon tha reser�B funds to p�ty such items, and L�nder shail nat ba required to de�erm�ne the �al�dity vr a�curacy of any item befvre pay�ng it. Nothing in the Deed of Trus� sha�l be �vnstrued �s requiring L�nder to ad�ance Q�her monies for such purpases. and Lender sha��nvt incu�any liability��r anything it rnay do �r �mit to da with respect tv the reserv� accaunt. Subject to eny �imitations set hy �pplicahle law, it the resen�e funds disc�ose � shvrtage or deficiency, Trustor shall pay such shart�ge ar deficien�y as requir�d by Lender. All amounts in the reaer►►e account are hereby pfedged to�urther secu�a the tndeb#edness, end Lender is hereby�uthvrized to withalraw end app�ly such emouni�❑n the Indebtedness up�n the�Gcurren�e vf an E�ent af Def�ult. Lendsr sha�l not be required ta pay any interest vr earnings on #h� res�rv� funds unless r�quirsd #ay Eaw or agreed to by Lend�r in w riting. Lender does nat h�ld the reser�e funds in trust tvr Trustor� and Lend�r is not Trus�or's agent fvr peyment of the taxes and asse�sments re�quired to be paid by Trustvr. LENDER'S E�CPENDITURES. I#any aGtion or proceeding is comrnenced tha#would materiaiEy affe�t Lender's interest in �he Praperty vr if Trustor�ails to �ornply with �ny prv�isivn of this Deed af Trust or any Related Dacuments, incEudtng but nat iimited tv Trustar's feilure tp discharge or pay when due any emoun#s Trustar is r�quired to dis�harge ❑r p�y under this De�d o�Trust or any Ralated Documents, Lender�n Trusior's beha�f m�y tbut sha[� nat tse obligeted to�teke any actian that Lender daems appropriata, inciud�ng but nat l�mited ta discherging or paying a!� taxes, lisns. sec�arity interests,en�umbran�es and other cleims.at any time le�ied ar�t�ced on tt�e Praperty end p�ying all costs fvr insuring, maintainin� and preser�ing the Prvp�rty. Ail such expenditure� incurred or paid by Lender for su�h purpQses wil!then bear interest a�the rate ch�rged under fhe Note fram the dste incur�ed �r pa�d by Lender to the date of repeyment by Trustar. A!! such expenses will becQme a part of the Indebtsdness and, at Lender's optian. will tA� he pay�ble on demand; �By be edded ta the balance ot thg Note �nd be �pportioned �mong and be payeb�e with any insta�lment payments ta become due during e�ther �1} the term of any�ppl��ble insuran�e poli�y; or {2� th� remainin� term ❑fi the Note; ar �Cy be treate�d as a h�lloon payment which wiii be due�nd Rayeble at the Note's maturity. The Deed of Trust also will secure payment af these arnounts. Such right sha�� be in additian to all other rights and remedies tv whi�h Lender may be entitled up�n Default. WARRANTY;DEFENSE�F TITLE. The foliowing prvvisians re�etin9 to ownefship of the Pro�erty are�part❑f#his Deed v#Trust: Tit�e. Trustvr warrants that: �� Yrustor holds govd and m�rketabie titfe v�re�ord to the Property �n fee simpla. free and clea�r of all �iens an�d encumbrancea othsr than�those set#orth in the Real Property descripti�n or in any title insurance pt�licy, titl� raport, ar #inal titla opinion issued in fa�ar of, and accepted by. Lender in �vnnection with th�s Deed af Trust� and �bf Trustor has the full right, power,and euthority ta execute and deli�er this Qeed vf