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2� 1 ���573y
<br /> DEED C]F TRUST
<br /> Loan No: 'I�'1292'139 4�ont�nued} Page 4
<br /> obtain and maintain Fed�rai Fiood insuranc�, if a�aiiabie, for th� fuii unpaid principai baiance of the ioan and any
<br /> prior li�ns on the prop�rty s�curing th� ioan, up to the maximum poiicy iimits s�t under the Nationai Fiood
<br /> lnsuranc� Program, or as oth�rwis� r�quir�d by L�nd�r, and to maintain such insuranc�for the term of th� ioan.
<br /> Application ot Proceeds. Trustor shaii promptiy notify L�nd�r of any ioss or damag�to th� Property. L�nd�r may
<br /> mak� proof of Ioss if Trustor faiis to do so within fif��en t15� days of th� casuaity. Wh�th�r or not Lender°s
<br /> security is impair�d, Lend�r may, at L�nd�r's �iection, r�c�i�e and r�tain th� proce�ds of any insuranc� and appiy
<br /> th� proc��ds to th� r�duction of th� ind�bt�dn�ss, payment of any li�n affecting th� Property, or the restoration
<br /> and r�pair of the Property, if L�nd�r ei�cts to apply th� proce�ds to restorat�on and r�pair, Trustor shaii r�pair or
<br /> r�piac� th� damag�d or destroy�d impro��m�nts in a mann�r satisfactory to L�nd�r. L�nd�r shaii, upon
<br /> satisfactory proof of such �xp�nditur�, pay or reimburs� Trustor from th� proc��ds for th� r�asonabie cost of
<br /> repair or r�storation i� Trustor �s not in d�fauit und�r this De�d o� Trust. Any proc��ds wh�ch ha�e not been
<br /> disburs�d within 1$� days af��r th�ir r�c�ipt and which Lend�r has not committ�d to th� r�pair or restorat�on of
<br /> th� Prop�rty shail b� us�d fEfst to pay any amount owing to Lend�r und�r thEs D��d of Trust, th�n to pay accfu�d
<br /> �nt�rest, and th� r�mainder, i� any, sha�l b� appii�d to th� principai baiance of th� ind�bt�dn�ss. If Lend�r hoids
<br /> any proce�ds a�t�r payment En fui� of th� indebt�dn�ss, such proceeds shaii be paid to Trustof as Trustor's
<br /> inter�sts may app�ar.
<br /> Trustor's Repo�rt on Insurance. Upon r�quest of L�nder, how���r not more than onc� a y�ar, Trustof shaii �urnish
<br /> to Lend�r a report on �ach existing poiicy o� �nsurance showing: t 1� th� nam� of th� insur�r; t2� the risks
<br /> insured; t3� the amount of th� poiicy; t4� the prop�rty insur�d, the th�n curr�nt r�piac�ment �aiue of such
<br /> property, and th� manner o�d�t�rmining that�aiu�; and �5� th� �xpifation dat� of th� poiicy. Trustor shaii, upon
<br /> request o�L�ndef, ha�e an ind�pend�nt appraiser satisfactofy to L�nd�r d�termine th� cash �aiu� r�piacem�nt cost
<br /> o�the Prop�rty.
<br /> LENDER'S EXPENDITURES. i�any action or proceeding is comm�nc�d that wouid mat�riaiiy af�ect L�nder's int�r�st in
<br /> th� Property or if Trustor faiis to compiy with any pro�ision o�th�s D��d of Trust or any R�iat�d Documents, including
<br /> but not i�mit�d to Trustor's faiiur� to discharg� or pay wh�n du� any amounts Trustor is r�quir�d to discharge or pay
<br /> under this De�d o�Trust of any R�iated Docum�nts, L�nd�r on Trustof's b�haif may tbut shaii not b� obligat�d to� take
<br /> any action that L�nd�r de�ms appropriat�, inc�uding but not iim�ted to discharging or paying aii tax�s, ii�ns, s�curity
<br /> int�r�sts, �ncumbranc�s and oth�r c�aims, at any tim� i��i�d or piac�d on th� Pfop�rty and paying aii costs fof insuring,
<br /> maintaining and pres�r�ing th� Prop�rty. Aii such �xpenditur�s incurr�d or paid by L�nd�r fof such purposes wiii then
<br /> b�ar int�r�st at th� rate charg�d und�r th� Note from the dat� incurred of paid by L�nd�f to the date o� repaym�nt by
<br /> Trustor. Aii such �xpens�s wEff b�com� a part o� th� ind�bt�dn�ss and, at L�nder°s option, wifi tA� b� payabi� on
<br /> d�mand; tB� be add�d to th� balanc� of th� Not� and b� apportioned among and be payabie with any instaiim�nt
<br /> payments to b�come du� during �ith�r t�� the t�rm of any app�icabi� insuranc� polEcy; or t2� th� r�maining term of
<br /> th� Not�; or tC� b� tr�at�d as a balioon paym�nt which w�ii b� due and payabi� at th� Note's maturity. Th� D��d of
<br /> Trust aiso wili secur� paym�nt of th�s� amounts. Such right shaii be in addit�on to ali oth�f rights and r�m�di�s to
<br /> which Lender may be �ntitied upon D��auit.
<br /> WARRANTY; DEFENSE QF TITLE. Th�foiiowing pro�isions r�iating to own�rshEp of th� Pfop�fty ar� a paft of this D��d
<br /> of Trust:
<br /> Title. Tfustor waffants that: ta� Tfustor hoids good and marketabi� titi� of r�cofd to th� Prop�rty in fee simpi�,
<br /> fr�� and ci�ar o� aif ii�ns and �ncumbranc�s other than those s�t forth in th� R�ai Prop�rty description or in any
<br /> titie Ensufanc� poiicy, t�ti� r�port, of finai titi� opinion issued in �a�or o�, and acc�pted by, Lender in conn�ction
<br /> with this D�ed of Trust, and �b� Trustor has th��uii right, power, and authority to �x�cut� and d�ii��r thEs Deed of
<br /> Trust to L�nd�r.
<br /> Detense ot Ti�le. Sub��ct to th� �xc�ption En th� para�raph abo��, Trustor warrants and wiii for���r defend the
<br /> titie to th� Prop�rty against th� lawfuE cfaims of aff p�rsons. ln the ���nt any action or proce�d�ng is comm�nc�d
<br /> that qu�stions Trustor's titi�or th� int�r�st of Trust�e or L�nd�r und�r th3s D��d of Trust, Trustor shaii defend th�
<br /> actEon at Trustor's �xp�ns�. Trustor may b� th� nominai party �n such proc��ding, but L�nd�r shaii b� �ntitied to
<br /> participate in th� proc�eding and to b� r�pr�sent�d 3n the proc��ding by couns�i of L�nd�r's own choic�, and
<br /> Tfustor wiii d�ii�ef, or caus�to b� d�i��ef�d, to L�nder such instrum�nts as L�ndef may r�qu�st from tim� to tim�
<br /> to p�fmit such paft�cipation.
<br /> �ompliance With Laws. Trustor warrants that th� Prop�rty and Trustor's us� o� the Prop�rty compii�s with a�i
<br /> �xisting appiicabi� iaws, ordinances, and r�guiations of go�efnm�ntai authoritE�s.
<br /> Surrri�al of Represen�a�ions and Warran�ies. All r�pres�ntations, warranti�s, and agr��m�nts mad� by Trustor in
<br /> this D�ed of Trust shaii sur�i�e th� �xecution and d�ii�ery of this D��d o�Trust, shaff b� continuing in natuf�, and
<br /> shali r�main in fuif force and�ff�ct unt�i such tim� as Borrow�r's lnd�btedness shaii b� paid in fuii.
<br /> CQNDEMNATIQN. Th�foiiowing pfo�isEons r�lat3ng to condemnation proc��dings af�a part of th�s D��d of Trust:
<br /> Proceedings. i� any proc��ding in cond�mnation is fii�d, Trustor shaii promptiy notify L�nd�r in writing, and
<br /> Trustor shaii pfomptiy take such st�ps as may b� n�cessary to de��nd th� action and obtaEn th� award. Trustor
<br /> may b�th� nominai party in such pfoc��ding, but L�nd�r shaii be ent�ti�d to pafticipate in th� pfoceeding and to b�
<br /> r�pf�sent�d 3n th� proc��ding by couns�i of its own choic�, and Trustor wiii d�ii��r or caus� to b� d�ii��r�d to
<br /> L�nder such instrum�nts and docum�ntation as may b� r�qu�sted by L�nd�r from tim� to time to p�rmit such
<br /> participation.
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