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2� 1 ����38
<br /> ��ED �F TR�J�T ,
<br /> ���nt��lued} Page �
<br /> prior [iens on the prvperty securing �he loan, up to �he maximum pvii�y limits set under the Nativnal F[vod
<br /> lnsurance Pragram,or as otherwise required by Lender,and ta main�aEn such insuran�e for the term o�the loan.
<br /> Applicativn a�F Proceeds. Tru�tor shall prompt�y notify Lender of any��ss or damage fo the Property. Lender may
<br /> make prvaf of lass if Trus�or€ail� �a d❑ so w'rthin fi�teen �'I5} days of the casualty. ti111hether or nat Lender's
<br /> security is impaired, Lender may, at Lender's election, recei�e and retain fhe praceeds��any insu�-ance and apply
<br /> the prv�eeds ta the r�duc�ian of the lndeb�edness, payment a�any lien afFec�fng the Prop�rty, or��he res�o�ation
<br /> and repair o�F fhe Pr�perty. �f Lender�lects ta apply the praceeds to restora�ivn and repair, Trus�or sha[f repair or
<br /> repfa�e the damaged or destroyed Impro�ements in a manner satisfac�ory t� Lender. Lender sha�l, upon
<br /> satis�Factory proo� of such expenditur�, pay or reimburse Trustvr from �he proc�eds �ar the reasanable �ost af
<br /> repair a� resto�atian Efi Trustar is nat in defaulf under this Deed ofi Trust. Any proceeds which have not been
<br /> disbursed vrrithin 'f 80 days aft�r their receEpt and which Lender has no� cvmmitted tv the repair ar r�stnrativn ��
<br /> �he P�oper#y sha�� be used first to pay any amount owing to Lender under this Deed of Trust,�hen to pay accrued
<br /> interes�, and �he remainder, if any, shall be applied ta the principa[ ba�ance of the Indebtedness. If Lender holds
<br /> any proceeds after paymen� in fu�� o� the �ndebtedness, such proce�ds shal� be paid to Trus�or as Trusfiar's
<br /> interests may appear.
<br /> Trustar's Repor�on Insurance. Upon requ�st�f Lender, howe�er nat mare than Qnce a year,Trusta�sha[��urnish
<br /> �o Lender a repo� an each exis�in� pvlicy af insurance shaw�ng: ('[} the name af the insurer; ��} �h� risks
<br /> insured; �3} the amoun� �f�he policy; �4} the prape�-ky insured, the then current replacemen# �alue o�such
<br /> property, and fihe manner of dete�mining that va[ue; and {5} �he expiratian date vf the policy. Trus#ar sha{I, upvn
<br /> request of Lender, ha��an€ndependent appraiser sa�isfactory�a Lender de�ermine the cash�a[ue replacement�vs�
<br /> ���he Praperky.
<br /> LENDER`S EXPENDITURES. !f any a�tion❑r prv�eeding is commenced�hat wauld materially affec�L�nder's interest in
<br /> the P�-oper�y o�if Trustar fails ta comply with any provision of this Deed o�Trusf or any Related Documen�s, in�luding
<br /> bu� not limited to Trusfar's failure t� dis�harge or pay when due any amounts Trus�or is requir�d ta discharg� or pay
<br /> under this Deed of Trusfi ar any Rela�ed ❑a�uments, Lender vn Trusto�-'s behalf may(but shall na�be abl�gated�a}�ake
<br /> any aGtion �hat Lender deems apprapriate, inc[uding but not [imited �o dis�harging or paying a31 �ax�s, liens, security
<br /> interests, encumbrances and other claim�,a�any fime�evied ar placed on the Praperty and paying ali Go��s far insuring,
<br /> maintaining and preserving#he Property. All su�h expenditures incurred ar paid by Lender�or su�h purpos�s will then
<br /> �ear interes�at�he rate charged under�he Nate�Fram�he date incurred or pa�d by Lender ta the date of repaymen� by
<br /> Trustv�-, A€� such expenses will become a pa�t of�he �ndeb�edness and, at Lend�r's ap�ian, wi[I €A} �e payab[e on
<br /> demand; �B} be added tv the balance af the Nate and be apportioned among and be payab[e wi�h any ins�allment
<br /> payments ta become due during either {1} #he term of any applicable �nsurance poli�y; ❑r {2} #he remaining term af
<br /> �he Nvte; ❑r �C} be treated as a ballvvn paymen�which will be due and payable at the Note's maturity. The Deed of
<br /> Trust alsv will secure payment of these amvun�s. Such r�gh� shall be in addition tv a�l other r�ghts and remedies �o
<br /> which Lender may be entitied upon❑�fault.
<br /> VI�AF�RANTY; ❑EFENSE DF TITLE. The fol�vwing prv�isians relating to owne�ship of�he Property are a pa�of th�s❑eed
<br /> of Trust:
<br /> Ti�le. T�ustor wa�rants tha�: �a} Trustvr halds govd and marketable �i�[e vf record to the Prope�ty in fee simp[e,
<br /> free and clear vf a�l liens and en�umbrances ofher than those set for�h �n the Real Proper#y description or in any
<br /> titfe insurance policy, ti�le repv�, ar final title opinion issued in �a�or of, and a�cepted by, Lende� in conn�ctian
<br /> with this❑eed vf Trust,and �b}Trustor has the ful[right, pvwer, and au�ho�-ity to execute and deli�er this❑eed af
<br /> Trus��a Lender.
<br /> Defense of Ti�[e. 5ubje���a the excepfiion in the paragraph abo�e, Trustar warrants and will fvrever defend the
<br /> tit[��a fhe Property aga�nst the lawful claims of a[I persons. �n the e�ent any action ar proceeding is commenced
<br /> that questions Trustor's title or�he interes�of Trustee or Lender under this ❑eed Qf Trust,Trusfiar shall de�end the
<br /> a�tion a�Trustor's expense. Trustvr may be�he nominal party in such proceeding, �u�Lender shal[ he entitled to
<br /> pa�ticipate in the praceedin� an� '�o be represen�ed in the proc��ding by Gounsel of Lender's own chvi�e, and
<br /> Trustor will deli�er, or cause to be deli�ered,��Lender such in��rument�as Lender may request from time i�o�ime
<br /> ta permit such participatian.
<br /> Compliance Vllith Laws. Trustor warrants that the Prvperty and Trus�tar's use of the Praperty compli�s with all
<br /> existing applicable laws, ordinances,and regulations of gv�ernmen�a!au�hvrities.
<br /> Surv�val af Represen�ations and Warran�ies. A�# representatians, warranties, and agreemen�s made by Trustor in
<br /> this ❑eed af Trust shall survi�e the executi�n and delivery�f this Deed af Trust, shall be con�inuing in nature, and
<br /> shall remain in full force and eftect unti[such tim�as Trustor's Indebtedness shal[be paid in full.
<br /> C�ND1E[UlNAT1QW. The following pr��isi�ns�elating to condemnatian prviceedin�s are a part of this Deed o�Trust:
<br /> Prnceedings. lf any prviceeding fn c�ndemna�ivn is filed, Trusfior sha�l prvmptly notify Lender in writing, and
<br /> Trus�or sha[[ promptly�ake such steps as may b� ne�essary to defend the a�fion and �btain the award. Tr�ustor
<br /> may be the nominal party in such pro�eeding, but Lender shall be entitled to participa�e in the praceeding and to be
<br /> represented in fhe prviceeding by caunse� o� it5 own choice, and Trustar wi[1 de�i�er ❑r cause�a be del��ered to
<br /> Lender such instruments and do�umentativn as may be requ�s�ed by Lender �From time to time �o permit such
<br /> participativn.
<br /> Applica#i�n of Net Proceeds. If al[vr any part o�the Property is condemned by eminent dama�n proceedings or by
<br /> any proceed�ng or purchase in lieu af candemnation, Lender may at i�s e[ection require�ha�al[or any pv�ian of the
<br /> n�� proceeds v��he award be applied �o �he [ndeb�edn�ss or the repair or restaration �f the Praperty. The ne�
<br /> proceeds af�he awa�d shall mean the award af�er payment of afl reasonable costs, expenses, and attorneys'fees
<br /> in�urred by Trustee vr Lender in c�nnectivn wi�h the cond�mnatian.
<br /> 1MPa51T[DN []F TAXES, FEES AN❑ �HARCES BY CQVERNMENT►�L AIITHD�IT�ES. The �ollowing provisions relatin�
<br /> fio governmental#axes,�ees and chargr�s are a part of this Deed o�Trust:
<br /> Curren�Tax�s, Fees and Charges. Upvn r�quest by Lender, Trus#or shall execute suGh do�uments in addition to
<br /> th�s Deed af Trus�and take whate��r other ac�ion is requested by Lender�ta per€ect and �vntinue Lender's lien on
<br /> the Real Property. Trustor shall reimburse Lender�ror all taxes, as described belaw, together wi�h all expenses
<br /> incurred in recording, perFecting or Gontinuing �his Deed of Trus�, including wi�haut limitation al[ taxes, fees,
<br /> documentary stamps,and other charges f��-recording ar registering�his Deed vf Trust.
<br /> Taxes. The fo��owsng shatt constitu�e taxes�a which #his sectsan app�ias: ��} a sp�cific tax upon�l�is ty�e o�
<br /> ❑�ed of Trust or upon all or any par�of the �nde���dness seGured by this Deed o�Trust; (2} a specifiic tax on
<br /> Trustvr whi�h Trustvr is aufhorized or required�a deduct fram paymen�s❑n the Indebtedness secured by this�}rpe
<br /> af Deed of Trust; �3} a tax on this type of Deed of Trusf chargeable against the Lender or the holder o�the Note;
<br /> and �4� a spe�ific tax vn al[ or any pa�ti�n of th� Indebtedn�ss or on payments o�principal and interest made by
<br /> Trustvr.
<br /> Subsequen# T�xes. lf any �ax to which this se�tion app�ies is enacfed subsequent tv the da�e �f fhis ❑eed of
<br /> Trust, this e��nt shatt ha�e the same eff��t as an E�en� of Default, and Lender may exercise�any or all of its
<br /> available remedies fvr an E�ent af Default as prv�ided be�ouv unless Trustor �ither �1} pays the tax before i�t
<br /> hecames delinquent, vr {2} con�ests the tax as prv�ided abv�e in the Taxes and Liens se�tian and deposits with
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