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2� 1 ��572 DEED C�F TRUST Loan No: 7�7 2927 39 �Cont�nued� Page 4 the praceeds t❑ the reductian ❑f the fndebtedness, payment ❑f any lien affecting the Praperty, ❑r the restaratian and repair ❑f the Praper�y. If Lender efects t❑ appfy the praceeds t❑ restarativn and repair. Trustar shafl repair ❑r replace the damaged ❑r destrvyed Impra�ements in a manner satis�actary t❑ Lender. Lender shall, upan satisfactary praaf ❑f such expenditure, pay ❑r reimburse Trustar fram the praceeds far the reasanable cast ❑f repair ❑r restaratian if Trustar is nat in default under th�s Deed ❑� Trust. Any praceeds which ha�e nat been disbursed within �84 days af�er the+r receEp� and which Lender has nat camm�tted t❑ �he repair ❑r re5�aratian ❑f �he Praperty sha�! be used firs�t❑ pay any amaunt ❑w�ng t❑ Lender under this Deed ❑f Trust, then �a pay accrued �n�eres�, and the remaEnder, �f any, shall be applied t❑ the principal ba�ance �f the �ndebtedness. �f Lender halds � any praceeds after payment in full ❑f �he Indeb�edness, such praceeds shall be paid t❑ Trustar as Trustar's in�eres�s may appear. Comp�iance with Existing �ndebtedness. Du�ing the periad in which any Existing Indebtedness described belaw is in effect, campliance with the insurance pra�is+ans cantained in the instrumen� e�idencing such Ex�s�ing Indebtedness shafl cans�i�ute campfiance wi�h the insurance pra�isi�ns under �his Deed ❑f Trus�, �❑ the ex�ent campliance w��h the �erms ❑f this Deed ❑f Trust wauld canst�tu�e a duplicat�an af insurance requiremen�. If any praceeds fram the insurance became payable ❑n lass, �the pra�isians in �h�s Deed ❑f Trus� �ar di�isian ❑f praceeds sha�l apply❑nfy t❑that partian ❑f the praceeds nat payable t�the ha�der❑f the Exis�ing Indebtedness. Trustor's Report on �nsurance. Upan request ❑f Lender, haweVer na� mare than ❑nce a year, Trustar sha�l furnish t❑ Lender a repart ❑n each existing palicy ❑f insurance shawing: ��y the name ❑f the insurer; {Zy the risks insured; {3y �he amaun� af the pal�cy; {4y the praperty �nsured, the then current replacement �alue ❑f such prvperty, and the manner❑�de�ermining tha� �alue; and {5y the expiratian da�e af the paficy. Trustar shal�, upan request❑f Lender, ha�e an independent appra�ser satisfacta�y�❑ Lender dete�mine�he cash�alue replacemen�c�st ❑f the Praperty. LENDER'S EXPEND�TURES. If any actian ❑r praceeding Es cammenced that wauld materially affect Lender's �nterest in the Praperty �r Ef Trustar �ails t❑ camply wi�h any pra�Esian ❑f this Deed af Trust ar any Refated Dacuments, incfuding but nat limited t❑ Trustar's failure t❑ campfy w�th any ❑bligatian t❑ maintaEn Exist�ng fndebtedness �n gaad s�anding as requ�red belaw, ❑r ta d�scharge ar pay when due any amaunts Trustar is required t❑discharge ❑r pay under th�s Deed ❑f Trust ❑r any Related Dacuments, Lender an Trustar's behalf may {but shall nat be ❑b��gated tay take any actian that Lender deems appraprEate, includ�ng but nat �imEted t❑ dischargEng ❑r paying aff taxes, �iens, security interests, encumbrances and ather cfaims, at any time ie�Eed ❑r p�aced ❑n the Pr�perty and paying all casts far insur�ng, mainta€ning and preser�ing the Praperty. Al� such expenditures incurred ❑r paid by Lender �ar such purpvses will then bear Enterest at the rate charged under the Nvte fram the date �ncurred ❑r paid by Lender ta the date ❑f repaymen� by Trustar. All such expenses will became a part ❑f the �ndebtedness and, at Lender's ❑ptian, will �Ay be payable ❑n demand; {B� be added t❑ the balance �f the Nate and be appartianed amang and be payable with any Enstal�ment payments ta became due dur�ng eE�her {�y the term ❑f any applEcabfe insurance paficy; ❑r {�y the remain�ng term af the Nvte; ❑r {Cy be �reated as a ballaan payment which wi�l be due and payable at the N�te's maturity. The Deed ❑f Trust als❑ w�ll secure payment a� these amaunts. 5uch right shall be in add�tivn t❑ all ��her rights and remedies t❑ which Lender may be entitled upan Default. WARRANTY; DEFENSE�F TITLE. The fa�fawing pra�is�ans relating ta ❑wnership❑��he Praperty are a part❑f this Deed ❑f Trust: Title. Trustar warrants that: {ay Trustar ha�ds gaad and marketab�e tit�e ❑f recard t❑ the Praperty in fee simple, free and clear ❑f a�l I�ens and encumbrances ❑ther than thase set farth �n the Real Praperty descr�ptian ❑r in the Existing Indebtedness sectian belaw �r in any title insurance pal�cy, ti�le rep�rt, ❑r�inal �itle apinivn issued in fa�ar ❑f, and accepted by, Lender in cannectian wEth this Deed ❑f Trust, and {b� Trustar has the full right, pawer, and autharity t❑execute and deli�er this Deed af T�ust t❑ Lender. Defense of T�t�e. 5ubject ta the exceptian in the paragraph aba�e, T�ustar warrants and will fare�er defend the title t❑ the Praper�y against the �awfuf cla�ms ❑f all persans. In the e�ent any actian ❑r praceeding �s cammenced that questEans Trustar's titfe ❑r the interest ❑f Trustee ❑r Lender under this Deed ❑f Trust, T�ustar shall defend the actian at Trustar's expense. Trustar may be the naminaf party in such praceeding, but Lender shaff be enti�fed t❑ participate En the praceeding and t❑ be represented in the praceeding by caunsef ❑f Lender's ❑wn chaice, and Trustar wilf deli�er, ❑r cause ta be deli�ered, t❑ Lender such instruments as Lender may request fram time ta time t❑ permit such partic�patian. Compliance With Laws. Trustar warrants �hat the Property and Trustar's use ❑f �he Praperty campfies wEth all existing appficab�e faws, ardinances. and regulativns ❑f ga�ernmental autharE�ies. Sur�i�al of Representations and Warrant�es. All representatians, warranties, and agreements made by Trustar in this Deed ❑f Trust shall sur�+�e the executian and deli�ery❑f this Deed ❑�Trust, shall be cantinuing in nature, and shafl remain in�ull fvrce and ef�ect unt�l such time as Barrawer`s Indebtedness shaff be paid in fu��. EX�ST�NG INDEBTEDNE55. The fafl�wing pra�isians cancerning Existing Indebtedness are a part❑�th�s Deed ❑f Trust: Existing L�en. The lien ❑� this Deed af Trust securing the Indebtedness may be secandary and En�eri�r t❑ an existing fien. Trustar expressly ca�enants and agrees t❑ pay, ❑r see t❑ the payment ❑f, the Existing fndebtedness and t❑ pre�ent any defauit❑n such �ndebtedness, any default under the instruments e�idencEng such indebtedness, ❑r any defau�t under any security dacuments far such indebtedness.