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2� 1 ���5��
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<br /> aEED �F TRV�T �
<br /> ��on�inu�d} Pe�e �
<br /> impror�emsnts.
<br /> PR�PERTY DAMA�E INSURAN�E. The foilowir�g pra�isions�elating to insurin�th� Property are a pert oi this Deed of
<br /> TrUst.
<br /> Maintenancs of Insurancs. Trustar shall pro�ure and main�ain policies�f f�re inauranc� with �tandart! ex�tentl�d
<br /> c4�er�ge endor��ments on a replacament be�is for the �ull �nsurable��lue co�erfng a!! Impra��ments on the Re��
<br /> Praperty in an arnaunt aufficient tv ��vid �ppli�a�u�n of �ny �4insuran�e �lause, and with s atands�rd mart�ag�a
<br /> � �lauae in favor of Lender. Trustor shalf alao procure snd mainta�n c�marehensi�e g�nera�liability insurence in such
<br /> cvv�r�ge �rnaunts �s Land�r may request with Trustee end Len�er t�eing n�m8d �s �ddttianel insur�ds in such
<br /> lisbility insurance polici�s, Addi#��nally� Tru�tor sh�ll meint��n suGh other insurance, including hut not limit�d t�
<br /> hezerd, busines� interruptian, an�hoil�r in�ur�nce, �a L�nder m�y re�s�nably requ+re. Policies sh�ll be writt�n in
<br /> farmr am�unts� �o►►erages �nd bssis reesonebly accepts�bls #o L�nd�r and i$$ued by a comp�ny a� companies
<br /> ressanebl� acceptable to Lentl�r. Trus#or, upon request af L�nd�r� wii! deliv�r ta Lander fram tim� ta time the
<br /> pa�i�ies or�ertifi�ates af insur�nce in rtarm satisfactory to Lender, in�luding s�ipuletions that cavsrages will nat be
<br /> , cencelled or diminished withaut at�east thirty �3�f dsys priar written n�ti�g to Lender. Eech insursnce�o�i�y�1�Q
<br /> � shall include�n endorserr�ent providing that cov�rege in�ar�ar of Lender will not b�imp�ired in any way b��ny act,
<br /> omiss�an ar d�f�ult of Trustar or any ather person. Should the Real Praperty be loc�ted in an �re�designated by
<br /> t�r�Administ�a�o�af the Fed�rsl Em�rg�ncy Man�gement agen�y a�s a specisl fload hazerd are�,Trustor agrees to
<br /> . obta�n Snd main�ain Federat Flaad InsUrance, if awei�a�le� for t�re#u�l unpaid princip��b�l�nce of the laen and eny
<br /> prior liens on thg property securing the �Qan, up ta the meximum palic� limits set Under the Nationsl Fload
<br /> Insurance Program��r as otherwisg required by Lender� and ta m8intain such in�urance�or the��rm o�the I�sn.
<br /> AppCr��rtian Qf Proc�at�s. TrUstor ahell pr�n�ptiy n�tEfy Lender of any�o$s ar d�mage to the Prvperty. Lendsr mey
<br /> make proof of loss if Trus�or f�ils to do s� within fifteen �'�5f deys of the casuelty. Wh�ther Qr nat Lender's
<br /> security is impaired, Lender may, at L�nder's election, reGeiv� and r�tain the prac�e�ds vf eny insur�n�e�n�epply
<br /> the proc�ads to the �eduction of th� Inde#�t�dness, p�yment of any lien affecting the Property, ar th� re�taration
<br /> anc!repeir��the Property. If Lender e�ect�to spply the prac���ts ta restoration and r�peir. Trustor sha11 repair or
<br /> replaG� the damagetl or destraysd �mpra�ements in s m�nner satis��ctorX t4 Lender. Lender shal�, upon
<br /> s�tisfactary praof �f such expenditure, pay or reimburse Trusto► #rom #he proceeds far the reas�n�b�e cast af
<br /> repair or r�starat�on if Trus#ar is not in def�ult under thi� �sed af Trust. Any pro�eeds which h�v� not heen
<br /> disbUrsed within 18� days �fter their r�ceipt�nd which Lender ha� nat�ommitted to the repair or �estoration a#
<br /> the Property shall be used first to pay any emount or+vin�to Lender under this D��d�f Trust�then t�p�y a�crued
<br /> interest, and the rernair�der� if any. sha�l be �pplied t� th� p�incipal balance �f t�e �ndabtadn�ss. If Lender halds
<br /> any proceeds after payment in �ull a� the indebtedness, such praCee�s shall be pai� to Trustor as T�ustor's
<br /> interests m�y�ppear.
<br /> Trustor'� Rsport on Irt�ursnce. Upon requesi af Lander, howaver n�#more th�n�nce a year.Trustar shall�urnish
<br /> t� Lender � report an each exMating policy af insu�ance sh�wing: {1� #ha name of #he insurer; ��f the risks
<br /> insured; �3� #he amaunt�f the polic�l; {4f the praperty insured, the then currant replscement �alUe af su�h
<br /> prop�rty, and the m�nner of det�rmin�ns#h�t�alue; and �5j the exp�rativn d�ts ai the policy. Trust�r sha�l, upQn
<br /> requast a#Lender+���e�n indep�nd�nt apprsiser satis#actvry to L�nder d�termine the c$sh��lue repls��ment cas#
<br /> of the�roperty.
<br /> TAi� AND INSUF�ANCE RESERVES. Subject to anY limi#�tions and consist�n�with �ny requirernents�t by sppli�al�le
<br /> 18w� Lend�r rnay �equire Trustor ta maintain with Lender re$ery�s f�r paym�nt a� annual tax�s. assessments, and
<br /> insursnce premiums. whi�h r�ser��s sl�ell be creat�d by an initi�l deposit end �ubsequent monthty payments, or
<br /> peyments�t su�h other irit�n►81 as peyments under the Note may be due,of a sum estim�t�d by Lencler ta be su�ficient
<br /> ta pey the tQtal annual taxes, assessments. end insurance p�emiums L�nde� rassan�l�ly anti�ipates to be paid �rom
<br /> these res�rves. The r�serv�funds shall be held by Lender as a generel deposit from T�ustar,which Lender rn$y satisfy
<br /> by p�ym�nt of the taxas, �saesamen#s. �nd insurence premiums requir�d #o ba peid by Trustor as they b�cam� due,
<br /> Lender ahall h��e the right ta drew upon the rsserve funds to pay such items� and Lender shsll not a� ra�uired #o
<br /> determin� the walidity ar accuracy af any item before p�ying it, Nothing in the Deed of Trust shall b� Gonstrued as
<br /> requiring Lender#a adWancs ather m�niss far such purp�ses, end Lend�r sh�ll nat in�ur any liab�i�ty for anything it may
<br /> do ar omit to do with respe�t t� the reser�e ac�ount. Subject to any limitations set by �pplicable law, if the reserva
<br /> funds discl�sg a short�ge ar de�ciency, T�usto� shell pay such shartage �r deficiency es required by Lender. Ai�
<br /> �m4unts in the reserve accoun�are hereby pl�dged to furthQr secure the Indebtednes�, end Lend�r is hereby authori2ed
<br /> t�withdraw and apply suGh amaunts�n ths Indebtedness upon�he oc��rrence of en Ew�nt�f Def$ult. Lerxler shall nQt
<br /> b� require�f to pa� eny inter�st or earnings on the r�aerve funds unlesa required by lew ar �greed to �y Lendar in
<br /> writing. Lender does noi hold the reser�e funds in trust��r Trust�r, �nd L�nder is nat Trust�r's agsnt far payrn�nt of
<br /> the texe�snd es�es�ments req�rired to be p�id by Trustor.
<br /> LENDER'S E]CPENDITIlRES. If any �ction or proce�ding is a�mmenced thst wau![f mate�ia�iy ef�ect L�nd�r's interes#in
<br /> the Praperty�r if Trustor feils ta campiy with sny ��o�isian a#thia Deed of Trus#or sny Related Docum�nt�� including
<br /> but not limited to Trustar's failure to disch�rg�ar psy when due any amounts Trustor is required ta disch�r+�s Qr psy
<br /> undar#his Desd of Trust or sny Related Documents, Lender an Trustar'$behalf�nay {bUt sh�ll not be¢bl��ated tof take
<br /> �rry �ctian thet Lender deems apprapriete, inc�uding but no# limi#ed ta diBch�rgin$ or p�ying �li t��es, li�ns, s�cur�ty
<br /> int�rgsts�encumbrances and othe�r c��ims,at any time le�isd vr pl�ced on th�Praperty and paying all c�sts for insuring,
<br /> ma�nt8ining and preser�ing the Praperty. All auch expend�tures incurrecl ar paid by Len��r fo�such purp�ses will then
<br /> bear int�rest et tFre ra#e ch�rged under tl�r� Nate iram th�date incurred oc paEd by Lsndar to the d�te of repayment by
<br /> Trustor. A11 such �xpen$�s wiil b�com� a pert a�the Indebtedn�ss and� at Lender's option, wiil �Ay b� pey�ble on
<br /> denna�nd; �By be addad to the balance of the Nate s�nd be �pportivned emang and be payeble with any insiallment
<br /> peyments to become dus du��ng either [11 the term of an�appliGah�e�nsurance policy; or ��} the rernaining term of
<br /> the IVota:or ��f be treated�s a ba�lo�n paym�n�whi�h wi#I be tiue�nd psysble et the N�#e's maturity. The Dead o�
<br /> Truat el�o will sscure payment �#th�se arnounts. Such right shal! be in edditian to �II other rights and r�medies t�
<br /> whi�h Lender may be entitl�d upan Default.
<br /> VItARRANTII;DEFENSE�F TITLE. Ths foll�win�proWisivns rslsting to awn$rahip of the Property�r�s p�rt af this�eed
<br /> of Trust:
<br /> Titl�. Trus�or wsrrants thet: �ay Trustor hold�goad�nd m�rketSbl�[itla �f r��ard t�the Praperty in fee$imple�
<br /> �ree and �leer af ail liens �nd encumbrances other th�n those set f�rth in the Re�� Property d�script�an or in any
<br /> title insur�nce pal�c�, titl� repart� or fin�l title opinion issusd in f�vor af, and ecceptad �y. Lender in connectian
<br /> with this�eed�f Trust,$nd tby Trustor has the ful�right.pow�r.and euthQrity t4�xe�ut�snd dQli�er this�eed of
<br /> TrUst ta Lender.
<br /> Da�ens� of Ti#�. Subjec�to the exceptiQn in the par�gr�ph�boae, Trustar werrants and will foreU�r de#and the
<br /> title to the Property sgsinst th��awful clsims of�li persvna. In the euant any actian ar proceeding is cammen�ed
<br /> that questivn�Trustor's titl��r the int�rest of Truatee ar Len�er untler thia D�ad af Trust,Trusto�shal�dgfsnd the
<br /> actiar� �t Trustor's expense. T�Ust�r rnay be the norninel�arty in auch praceedin�, but Lender sh�p ae er�titled ta
<br /> participete in tha proceading 8nd to be r�presented in the proceeding ay counset �f Lender's own choi�e, and
<br /> Trustar wil!deli�er,or��use to be deli�sred.to Lender such irrstruments es Lgnder rn�y request frnm time to time
<br /> to permit su�h p�rticipstion.
<br /> Complisnce Vllith Laws. Trustor werrants that th� Property �nd Trustar's use o�the Pr�perty compiies with �II
<br /> existing applicshl�laws,ardinan�gs.and regulations of go�ernmental authorities.
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