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2� 1 �� 1 �79
<br /> DEED �F TRUST
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<br /> Loar� No: '1❑'i�9�4�7 �C�nt�nue Pag� 4
<br /> f.nsurance Program, or as o�herwise required by L�nder, and to maintain such insurance for the t�rm of the loan.
<br /> AppliCati�n of Proceeds. Trustor sha11 promp�ly natify Lender of any loss vr damage to the Pr�perty. Lender may
<br /> make proof of lass if Trus�ar fai�s �o do sa within �fift��n ��5} days af �he casua�ty. 1Nhether or not Lender's
<br /> �ecurity is impaired, Lender may, at Lender's elect�on, receiWe and retain the p�oceeds of any insurance and apply
<br /> �he proceeds ta the reduction af the Ind�b��dness, paym�nt o� any lien a�fecting fhe Property, or the restvration
<br /> and repair of the Property. If Lender elec�s to apply the proceeds to restoration and �epair, Trus�ar shall repair or
<br /> �eplace the damaged ar destrvyed Impro�ements En a manner satisfact�ry to Lender. Lend�r sha[I, upan
<br /> �a�isfacto�y proof of suCh expenditure, pay ar reimb�rs� Trustor from �he pr�ceeds for the reasanable cast of
<br /> repair ❑r r�stora�ion if Trustar is not in defauft under this Deed af Trust. Any proceeds which ha�e not been
<br /> disbursed wifihin �8� days after their rece�pt and which Lender has not cammitted to the repair vr restorat�on af
<br /> �the Praperty shall �e used �irst�o pay any amvunt owing tQ Lender under this Deed of Trust, then to pay accrued
<br /> €n�eres�� and the remainder, if any, shall be applied �❑ the principal balance af the fndeb�edn�ss. I� Lender hvlds
<br /> any proc�eds a��er payment �n full af th� lndebtedness, such proceeds shafl be paid to Trus�or as Trustor's
<br /> interests may appear.
<br /> CvmpiianCe w�th Exisfiing �nd�b�edness. ❑uring th� period in which any Existing [ndebtednes� described below is
<br /> an effect, compliance wi�h th� insurance pro�isians cantained in the instrument evi�enc�ng su�h Exis�in�
<br /> �ndebt��lness shall constitu�e compliance with the insurance provisions under this Deed nf Trust, to �he extent
<br /> �omplian�� wi�h the �erms o� this Deec! of T�-ust would �onstitu�e a dupfication ofi insurance requirem�n�. �� any
<br /> �roceeds frvm the insurance became payable nn Iflss, �he pro��sians in th�s Deed o�F Trust for divisian of pr�ceeds
<br /> shal�apply only t�tha�p�r�ion v�the proceeds nat paVable�o the halder❑f the Existing Inde��edness.
<br /> Trust�r's Report an Insurance. Upan request of Lender, hvwever not more than ance a year, Trustor shall furnish
<br /> to L�nder a repar� an each ex�s�ing poli�y �� insurance showing: �1� �he name of the �nsurer; {2} the rEsks
<br /> insured; �3� the amount af the policy; �4y �rhe prnperty insured, the th�n current replacem�nt Walue o� such
<br /> property, and the manner �f dete�-mEning that�alue; and �5� the expirat�on date af the pali�y. T�-ust�r shall, upon
<br /> reques�o�Lender, have an independent appraiser satisfac�ary�o Lender determine the cash Walue �eplacemen�cost
<br /> vf the Pr�per�y.
<br /> LEN€��R'S EXPENDITURES. if any action ar pr�ceeding is commenced �hat would materially a�fe�t Lender's int�rest in
<br /> the P�oper�y or if Trusto�fails to camply �rvith any proWision of this ❑eed ��Trust o� any Related Documents, including
<br /> but not limited to Trustor's failure to camply with any o�ligatian �o maintain Existing lndebtedness in good standing as
<br /> requ�red befaw, ❑r t❑discharge or pay wh�n due any amounts Trus�ror is requir�d to discharge or pay und�r this Deed of
<br /> T�us� vr any Related D�cuments, Lender an Trust�r's behalf may �bu� shall not be obligated �to� take any ac��Qn �hat
<br /> Lender deems apprvpr�ate, inc[uding bu� no� limit�d �a discharging or payin� ali taxes, liens, security interes�s,
<br /> encu�nbranc�s and other claims, at any time le�i�d or placed on the Praperty and paying all c�sts fivr insuring,
<br /> rnair,�ain�ng and preser�ing th� P�aperty. All su�h expenditures �ncurr�d ar paid by Lender for such purposes wilf then
<br /> bear interest at the rate char�ed und�r the Nate frvm �he date incurred ❑r paid by Lender t� �the date a� repaym�nt by
<br /> Trus#ar. All such expenses will become a part ofi the lndebtedness an�, at Lender's aption, v►rill {A) he payable on
<br /> demand; {S} b� added �� the balance o� the Nate and be apportianed amang and be payable wi�h any instal�ment
<br /> payrr��nts to become due during either ��� �he term of any appli�ab�e insurance po�icy; ar {2� �he r�maining term of
<br /> the hf�te; or ��f he treated as a bal�aon payment which will be due and payable at�he Note's maturi�y. The Deed of
<br /> Tru�� also will secur� paymen�t afi thes� amounts. Such ri�h� shall be in addit�on to all vther rights and remedies �to
<br /> which Lender may be entitied upan D�fault.
<br /> VIIARRANTY; ❑EFENSE QF T1TLE, The fo�lvwing provisions rela�ing to vwnership o'��he Prop�r�y are a par�of this De�d
<br /> ��Trus�:
<br /> Ti�le. Trustar vuarrants that: ta� Trus�or holds govd and marke�kahle title of record to the Pr�perty in fee simple,
<br /> �Free and cfear ❑f all liens and encumbranc�s other than thas� set forth in the Real Prop�rty description ar in the
<br /> Exisfiing lndeb�tedness sectian �elow or in any title insurance palicy, title report, or final title�pin�on issued in�Fa�or
<br /> o�, and acc�p�ed by, Lend�r En connectifln wi�h �this L��ed of Trust, and {b� Trustor has tha full right, power, and
<br /> au�h�rity��execute and deli�er�his Deed of Trust to Lend�r.
<br /> Defense of Title. Subjec�t to the exception in fihe paragraph abo�e, Trustor warrants and wil! forever d�fend the
<br /> title �to �he Pr�perty against th� lawful �laims af all persons. In the event any action or praceeding is comm�nced
<br /> �tha�questions Trustor's ti�le or the interest a�Trustee or Lender under this Deed af Trust, Trus�ar shall defencl the
<br /> action at Trustor's exp�nse. Trustor may be the nominal party in such proceeding, but Lender shall be entitled to
<br /> parti�ipate in �he prvGeeding and to be represen��d in the proceeding by counsel of Lender's �wn �hoice, and
<br /> Trus��r wil� deliver, or�ause to �e defive�ed, ta L�nder such instrum�nts as Lender may request fr�m �im�to�ime
<br /> to permit such participation.
<br /> Complian�e With Laws. Trustor warran�s that the Property and Trustor's use of the Prvper�y complies with a�l
<br /> �xistin� applicab�e laws, �rdinances, and regulatians o�F ga�ernmen�al authorities.
<br /> Sur�ival of Representat`rans and `IVarranties. A�! r�presentations, warranties, and agr�ements made by Trustor in
<br /> this Deed of Trust shall survive the executi�n and deli��ry of this Deed a�Trust, shail b� continuing in nature, and
<br /> sha[I remain in ful�f�rce and effect until such�ime as Barrower's Indebtedness shall be paid in fu�1.
<br /> EXI�TIN� lNDEBTEDNE55. The fvllowing provisions concerning E�cisting lnde�t�dness are a part af this Deed o�Trust:
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