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2� 1 ���378
<br /> DEE� �F TRL��T
<br /> .
<br /> Loan No: 4��4�67 � o��tnu� �'age 3
<br /> reasanab�y ac�eptable ta Lender. T�ustor, upan requ�s� of Lender. will deiiver to Lender from �ime tfl time the
<br /> pa�icies o� certifiea�es�f insu�ance fn fvrrn satisfactary to Lender; including stipulation�tha� c�verages v�rill not be
<br /> canceC[ed vr duminished�ci�hou�at Eeas�fiffteen �'�5} d�ys priar written notice to Lender. Ea�h insurance p�iicy alsa
<br /> sha6� �nclud� an endvrsement prarrid�ng th��ca�erage in�avo�-of L�nde�wi�i no�he impaired in any vvay by any ac�f
<br /> amission or default of Trustor❑r any❑t�e�r person. Should the Rea[ Proper�y be located �n an area designated by
<br /> �he Adrninist�ator a��he Federa� Emergency Mar�ag�ment Agen�y as a spec€a! f�vnd hazard area, Trustor�gr�es�o
<br /> vbta�n and ma�nt��n Federal F1oad Insurance, if a�ailah(e, fQr �he fu�l unpaid principal baEance af the Coan and any
<br /> pr�ar [iens vn �he praperty s�curing �he [oa-n, up fv �he maximurn policy lir-nits set under the Nativnal F[vacf
<br /> InsuranGe Program, o�as o�herwise r�quired by Lender, and t� mainta�n suc�insurance for the fierm�f the lvan..
<br /> Applicati�n v��ro�eed�� Trustnr sha�l prompt�y nv�ify Lender vf any lass or da�nage to�he Properry. Lender may
<br /> make pr�v� of Ivss if Trustor tails to do sv within fif�een ��5} days 4� �he �asua[ty. V1lhether or not Lender's
<br /> securi�y is impaired. Lender may, at Lend�r's el�ction, �eceive and reta.sn�he proceeds of any�nsurance and appl�
<br /> �he proceeds to �he reduction af fihe lndeb�edness, p�ayrnent af any fien affecting the Propertyr �r the restoration
<br /> and repair vf the Pr�pertya �� Lender e[ects�v apply�he proceeds ta restorati�n anci repair,Trustor sha€� r�pa�r v�
<br /> replace the damaged or destroyed Impravem�nts in a manneir satis�acta�y �o Lender. Lender sha[[� upan
<br /> sa�isfaG��ry proof o� su�ch expendi�ure, pay ar reimburse Trustor -�r:om �he proceeds for �he reasvnabie cost ❑�
<br /> repair or restoratian if Trustor is not in de�au[t uncier this Deed ❑� Truste Any praceeds v��hich ha�e not �aeer�
<br /> disbursed vvEthin '�8� days aft�r their receipt and which Lend�r has not commi�ted �o �he repair or restoration o�
<br /> the Praper�ty shal� be used �irs��a pay any amaunt vwing �o Lende.r under th.is Deed v��C�'rust,then tv pay a��rued
<br /> Enter�st, and the remainder, i� any, shall b� app[ied to �he pr�ncipal bala:nce of�he f ndeb�edness. If Lender holds
<br /> any pro�eeds after paym�nt in f�r�i af �he lndebtedness, such proceeds sha[i he paid ta Trus�ar as Trustor's
<br /> interests may appear.
<br /> T�ustor's Rep�r�vro �nsurar��e. Upor� request of Lende�-. howe�er not mvre tha_n once a year, Trustar shai� furnish
<br /> tv Lender a report on ea�h �x'rs�ting. pfl��cy af insurance showing: ��} �he name of the insur-e�-; ��� �he.risk�
<br /> insured; �3} �he amoun� ❑� �he pvii�cy; �4} the praperty insured, the then curren� replacement �alue af sueh
<br /> praperty, and the manner ot de�ermining�hat va�ue; and 45} the expiration date o��he poli�y. Trustor shalf, upor�
<br /> request a�Lerade�r h�ve an independ�nt appra=iser sat�s�actory to Lende�determine�he cash va[ue replacemen�cost
<br /> of�he Prapert�r.
<br /> LEN�ER'S E�CPFNDITURES, l�f any action �r prfl�eeding is cvmmenced�ha�would materiai[y affec� Lender's in�e.rest in
<br /> �he Property or if Trustor�ai[s tv comply vuith any provis�vn ❑f�his Dee.d of Trust or any Reiated Dacuments, �nciuding
<br /> but not [imited to Trustor's fai�ur� t❑ discharge ar pay w�en due any amaun�s Trustor is requEred �a d�sc�arge or pay
<br /> under this Deed of Trust vr any F��lated Documents, Lender❑n Trus�or`s beha�f ma}� thut shail not be obiigated ic�� tal�e
<br /> any ac�ion tha� L�nder deems appr�priate, including bu� not Iimited ta discharging or paying all taxes, [iens, securi�
<br /> in�erests�encumbranGes and vther c�aims, at any time [evied or pla�ed vn�h�Property and pay�ng a11 cflsts fvr�nsuring,
<br /> mainta�n�ng and pr�ser��ng the Proper�y. AEf such expendi�ures incur:red or paid by Lender fvr such purpvses will then
<br /> bear interest at the rate charged under the Note fram the date incurred or g�aid by Lender ta �he da�e v� r�paymen�t b�
<br /> Trustar. All such expenses wi�] become a part of the [ndebtedness and, at Lender's ap�ivn, wil� �A} be payab�e ❑r�
<br /> demand� {8} be added to �he ba[anGe of �he Note and be apportioned among and b� payab�e with any installrr7en�
<br /> payments �o became due during either �'1� �he term of any applicable insuran�e poficy; ar �2� the remaining terrn �f
<br /> the N�te; or {C} be treated as a ballvan paymen�t which wi[E 1�e du� and payable at the Nofie's ma�urity. The �eed of
<br /> Trus� also will secure paymen� of these amounts. Such right shal] be in addition �o aI� other rights and rernedies ta
<br /> which Lender may be en��t�ed up�n Defau�t�
<br /> WAR�ANTY; DEFENSE 4F T1TLE. The fv[Ivw�ng pravisions re�ating ta ownership��the Properry are a part v�this l�eed.
<br /> of Trus�:
<br /> Titlea Trus�or wa.r�rant� �hat: {a} �frustar hvlds govd and marketab[e �i�fe of recard �to th�Praperty �n fee sirnple,
<br /> free and c�ear nf al1 liens and encumbrances ather�har� �hose set forth irt �he �ieai Propert� des�riptivn or En any
<br /> title i�sura�nce po��cy, ti�[e repart. ar fina� title opinian issued in favv� vf, and accepted by, Lender En GonnectiQn
<br /> wifih this Deed of Trust, and {b} �rusto�-has the full right, po�rver, and authvrity to execute and deiiver�his �eed a�F
<br /> T�us�tv Lender.
<br /> �efense v�Title. Sub�ec� to the exceptivn in �he paragraph abpve, Trustvr vvarrants and wif'��forever defend the
<br /> tit[� to t�e Pr�per�y against�he [awful claims o�a1i persans: �n the e�en� any action or pro���d�ng is commen�ed
<br /> that questians Trustflr's tit[e or the interest of Trustee vr Lender under�his Deed ❑f Trust,Trustor sha[1 defend the
<br /> actio.n at Trustor`s e�cpense. Trustor may be the norr-�ina[ party in such prvc�ed'rng, but Lender sha[[ be en�i�led �o
<br /> participate �n �he proceedfng and to be represented in the proc�eding by �ounsel vf ��nder`s own chvice, and
<br /> Trus�ar will de�i�er, or cause to be delivered.�o L.ender such �nstrumen�s a.s Lender may reques�from time ta�ime
<br /> ta permi�s.uch pa��eipation.
<br /> CompIiance VLlith Laws. �"rus�or warrants that t�e 1'roper�y and Trusfior's use o� ��ne Prope��y complies with all
<br /> existEng app�i�a�[e�aws, ordinances,and regu�afiians af gavernmen�a[ autharitTes.
<br /> Sur�ivaI v� Repre�entativns �nd Warranties. A[[ representa�ivns, warranties, �nd agreements made by Trustor in
<br /> this E3eed af Trus�shal� survi�e�he execution and delive�y v�F this 17eed o��rust, shalf be cvntinuing in nafiure� and
<br /> sha�� remain ir�ful!far�e and effec�unti�-such tir�e as Borrower's lnd�btedness shal[ be pa�d in fu[I.
<br /> C�l1iDE1V1NA`���Ns The#ol�ovving provisions r��ating ta c�ndemnation proceedings a:�e a part�f this �eed o�Trust:
<br /> Prviceesiings. �f any proceeding in �vndemnativ� is fled, Trustor shall p�-ampt�y nati�y Lender in writing, and
<br /> Trustor shail pramptiy take �uch sfeps as may he nec�ssarY to defend th� activn and obtain the award. T�usto�
<br /> may be the n�minal parry in su�h proceedEng, but Lender sh�ll be entitled ta parti�ipate in�h�proceeding and to �e
<br /> represented in �he proceeding �y counse� ❑� i�s ❑wn choice, and Trustor wili deli�er o�r cause to be de€i�ered to
<br /> Lender such instruments a.nd dacumentat�on as may be reques��d �y�Lender f�om tira�-�e �o time �a permit such
<br /> participati�n. � ,
<br /> Applicati�n of Net Proceeds. l�a11 or any part���Che Property is Gvndemned by eminent d�main prviceedings vr �Oy
<br /> any p�oceeding❑r purchase in [ieu of candemnatian, Lender may a�i�s�[ection require tha�a11 fl�any partian o�F fihe
<br /> ne-� proceeds vf��e award be app�ied to �he lndebtedness or the repair o�- restorat�vi-n o� the Properry. The net
<br /> prviceeds af�he award sha�f inean �he award after payment of al� reasonahle �osts, expenses, and attarneys' fees
<br /> �ncurred by Trus'�ee or Lender in connec�ian wi�h�h�condemnativn.
<br /> 1MPDS�T[�N �F TA�ES, FEES AND �HARGES BY G�OVE;FiNt11�ENTAL AUTHDRITIES. Th� fv��vwing pra�isians re�ating
<br /> to gvv�rnmental taxes,fees and �harges are a part of this Dee�❑f Trust:
<br /> Current Taxes, Fees a�d Charges. Upon request by Lend�r� Trustor shall �xecute such documents in addition ta
<br /> �his Deed of Trust and take whatever other activn is requested by Lender to perfect and cQnt�nue Lender's lien on
<br /> �he Rea1 Prop�rty. Trustor shall reimburse Lender fo�r a�� taxes, as descr�bed be�v.w, togefher wi�h al[ expenses
<br /> incurred i.n recording. perfec�ing or continuing this Deed of Trust. inc[uding without [imita�ion af� ta�€es, �ees,
<br /> dv�umentary stamps, and o�he�charges for rec�rd�ng ar regis�ering�h�s Deed af Trus�.
<br /> Taxes. The fallvwing shalf �onstitute taxes ta wh�ch this sec�tion applies: {1} a specific �ax upon �his �ype of
<br /> Deed of Trust or upvn a11 or any part af th� �nd�btedness s�cured �y�his �eed o#Trust; {�} a speci�ic tax on
<br /> Borrvwer whi�h Borrvwer is au�hvrized or required �v deducfi �rom payments on the [nd�btedness secured �y fih�s
<br /> type o� Deed of Trus�r �3� a tax on this type af❑eed o�Trus� chargeab[e against the Lender or the h��der of the
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