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2� 1 �� 1113
<br /> DEED �F TRUST
<br /> �C�ntirlued} Page 3
<br /> ar ass�ssments and sha�� authorize th� appropriate ga�ernmenta� vfficia[ �o deli�er�o Lender at any time a written
<br /> statement of the taxes and assessments against the Property.
<br /> Noti�e of Construction. Trustor shal[ nvtify Lender at least fi�teen ��5y days befvre any wvrk is �ommenced, any
<br /> ser�ices are �urnished, or any materiafs are supplied to the Property, if any me�hanic's I�en, materialmen's lien, �r
<br /> other �ien could he asserted vn account of the wvrk, ser�ices, or materials. Trus�vr will upon reques� of L�nder
<br /> furnish to Lender ad�ance assurances satis#a��ory to Lender that Trustor can and will pay th� cos� of such
<br /> improvements.
<br /> PRDPERTY DAMAGE INSURANCE. The follow�ng pro�isians rela�ing t� insuring the Prvperty are a part o�this Deed o�
<br /> Trust.
<br /> Maintenan�e ❑# Insurance. Trustor sha[I procure and main�ain palicies of fire insurance with s�andard extended
<br /> co�erage endorsements on a replacem�nt bas�s �or the full insurabl� �alue co��ring all fmpro�ements on the Real
<br /> Property in an amount suffi�ient to a�aid applica�ivn o� any �oinsurance clause, and with a s�andard mortgagee
<br /> �lause in fia�or�f Lender. Trustvr shall a[so prvcure and main�ain comprehensi�e generaf l�ability insurance in such
<br /> co�erage amounts as L�nder may request with Trustee and Lender being named as additional insureds in such
<br /> liahili�y insurance pali��es. Additionally, Trusto� shall maintain suCh other insurance, incfuding but not limited to
<br /> hazard, busin�ss interruptivn, and hoiler insurance, as Lender may reasonably require. Pv[icies shall be written in
<br /> form, amaunts, co�erages and basis reasonably acc�ptahl� to Lender and issued hy a company or companies
<br /> r�asor�ably acceptabfe ta Lender. Trus�vr, upon request o� Lender, will deli�er ta Lender from time �o �ime the
<br /> pvlicies or cer�ificat�s ❑fi insurance in �orm satis�a�tory ta L�nder, including stipu�ations that co�erages will not be
<br /> cancelled or dimin�shed withvut at least#h�rty �3fl} days prior written notice to Lend�r. Each insurance pfllicy als�
<br /> shall inc�ude an�ndorsement pro�iding that co�erage in fa�or of L�nder will not be impaired �n any way hy any act,
<br /> ❑mission ❑r defau[t o�Trus#or or any other person. 5hould the Reaf Proper�y be Ioca�ed in an area desi�na�ed by
<br /> the Administra�or o�the Federa! Emergency Management Agency as a special f[�od ha�ard area, Trustar agrees to
<br /> obtain and main�ain Federal Fload [nsuran�e, if a�ailab�e, within 45 days after noti�e is gi�en by Lender that the
<br /> Prvperty is lo�at�d in a specia{€load ha�ard area, for the�ui� unpaid princ�pal balance vf the �oan and any prior liens
<br /> vn the property securing the [oan, up�a the maximum po�icy limits set under the National Fload [nsurance Program,
<br /> ❑r as oth�rwise requ�red by Lender, and t❑ ma�ntain such insurance f�r th��erm o�the Ivan.
<br /> Appl�cativn v�Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Prvperty. L�nder may
<br /> make proof af loss if Trustor �ails �o da so wi�hin fifteen ��5� days o� �h� casualty. Vllhether or not Lender's
<br /> se�urity is �mpaired, Lender may, a� Lender's elec�ion, r�cei�e and retain the p�oceeds ❑f any insurance and apply
<br /> the proceeds to the reduction of the lndehtedness, paym�nt o�f any lien afifecting the Praperty, or the restoration
<br /> and repair af�he Property. I� Lender elects ta apply the proceeds to restoration and repair, Trust�r shall repair �r
<br /> replace the damaged ar destroyed �mp�o�ements in a manner satisfactary ta Lend�r. Lende� shall, upon
<br /> satis#actvey proa� of such expenditure, pay or reimburse Trustor from the p�oceeds for the reasona�le cost of
<br /> repair or restoration if Trustvr is n�t in default under this Deed vf Trust. Any praceeds which ha�e not been
<br /> disbur$ed within 18� days a�ter the�r receipt and which Lender has not committed to the repair or restorat�on of
<br /> the Property shal� be used firs�tv pay any amount owing to Lender under this Deed of Trus�, then tv pay accrued
<br /> interest, and the remainder, if any, shall be applied to the pr�n��pal f�alance o�f �he 1nd�btedness. If Lender holds
<br /> any prviceeds a�ter payment in #ull v� the Inde�tedn�ss, such proceeds shall �e pa€d to Trustor as Trustvr`s
<br /> interests may appear.
<br /> Trustar`5 Repvrt❑n �nsuran�e. Upon request of Lender, howe�er no� more than onc� a year, Trustor shal� furnish
<br /> to Lender a repor� on each existing pvlicy of insurance sh�wing: 41 y the name o� �he insurer; ��� the risks
<br /> insured; 43� �he amount af the poiicy; �4y th� prvperty �nsured, the th�n Gurrent �eplacement �alue ❑� such
<br /> prvperty, and �he manner vf determining #hat�aiue; and 45� the expiration da�e of the policy. Trustvr shall, upon
<br /> request vf Lender, ha�e an independent appraiser sa#isfactory to Lender de�ermine the cash�a�ue replacement�ost
<br /> vf the Proper�y.
<br /> LENDER'S EXPENDITURES. If any activn or pro�eeding is cammenced that would materially af��ct Lender's in�erest in
<br /> th� Property or if Trustor�ails �o comply with any pro�ision v�this ❑eed o�Trust o� any Related Documents, includ'€ng
<br /> but not limited tv Trustor's �ai[ur� to dis�harge or pay wh�n due any amounts Trustor is required to discharge or pay
<br /> under this Deed of Trus�or any Rela�ed Dacuments, Lender fln Trust�r's behalf may tbu�shall nat be �bligated toy take
<br /> any action that Lend�r deems apprvpriate, including but no�t limited to discharging or paying a�l taxes, liens, security
<br /> interests, encumbrances and other claims, at any�ime �e�ied or placed on the Property and paying all c�sts for insuring,
<br /> mainta�ning and preser�ing the Praperty. All such expend�tures incurred or pa�d by �ender �or such purposes will then
<br /> bear interes� at the rate charged under the Note fram the date incurred or paid by Lender �❑ the date ❑f repayment by
<br /> Trustor. �411 such expenses will be�ome a part o� �he Indebtedness and, at Lender's ❑ption, will �A} be payable vn
<br /> demand; �B3 be added to the balance of the Note and t�e apportianed among and be payat�le with any installment
<br /> paymen#s to become dus during either �1 y the term of any app�icable insurance pal�cy; or ��j ths remaining �erm �f
<br /> �he Not�; or tC� be �rea�ed as a balloon payment which wilf be due and payabl� at the Nvte's ma�urity. The aeed of
<br /> Trust a[so will secure payment o� these amounts. 5uch right shall �e in additivn t❑ all oth�r rights and remedies to
<br /> which Lender may he entitled upon Default.
<br /> WARRANTY; DEFENSE�F TITLE. The foE[owing pro�is�ons relating to ownership of the Property are a part of this Deed
<br /> of Trust:
<br /> Tit�e. Trustvr warrants that: {a� Trustor holds g�od and mark�table ti�le o� record to the Prvperty in �ee s�mp1�,
<br /> �ree a�d clear o# all liens and encumbrances o�her than �hvse se� �or�h in the Real Praperty des�ription or �n any
<br /> tit[e insuranc� policy, �itl� report, or �inal �i�le opinion issued in �a�or of, and accepted by, Lender in connection
<br /> ►rvith t�is De�d of Trust, and 4b� Trustor has the fulf right, power, and authority to execute and deli�er this Deed a�
<br /> Trust to Lender.
<br /> Defense vf Tit�e. 5ub�ect to the exception in the paragraph abo�e, Trus�or warrants and will fore��r defend the
<br /> title to the PrQperty against the Cawfu[ �faims of all persvns. In the e�en� any action or proceeding is commenced
<br /> that q�estions Trus�or's�it�e ar the interest of Truste� a� Lender under this Deed o�Trust, T�ustor shal� defend�he
<br /> action at Trust�r's expense. Trus��r may be the nominal par�y in such proceeding, hut Lender shall be entit�ed #o
<br /> participat� in the proceeding and to be represented in the proceeding by c�unsel of L�nder's own �hvice, and
<br /> Trustar will de[i�e�, ar�ause ta !�e deli�ered, to Lender such instruments as Lender may request from time to time
<br /> ta perm�t such parti�ipa�ion.
<br /> Comp�iance With Laws. Trustor warrants that �he Property and Trustor'S L15� o� the Property complies with a!1
<br /> existing applicahle �aws, vrdinances, and regulativns of go�ernmenta� autharities.
<br /> Sur�i�al ❑f Representafions and Warranties. All representations, warranties, and agreements made by Trustor in
<br /> this Deed af Trust shall sur�i�e the execution and deli�ery o�this Deed o�Trust, shall be continuing in nature, and
<br /> shall r�main in fu���orce and e��ect until such time as Trustor's [ndebt�dness shal[ t�e paid in�ull.
<br /> ��NDEMNATI-�N. The�ollarrving pro�isions relating to cond�mnativn pro�eedings are a par�vf this Deed of T�us�:
<br /> Proceed"rngs. If any pro�e�d�ng in condemnativn is fi[ed, Trus�or shall prompt[y notify Lender in writin�, and
<br /> Trus�Gr sha�l promptly take such steps as may be nec�ssary to defend the activn and obtain the award. Trustor
<br /> may he the namina[ party in such proceeding, but Lender shall he entitled�o par�icipate in�he proceeding and to be
<br /> rep�esented in the praceeding by cvunsel of its own choiGe, and Trustor will defiver or �ause t❑ be deli�e�ed tv
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