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2� 1 �� 1114
<br /> I�EE� �F `f R��T
<br /> R
<br /> Laan Nv: 1�1�9�37� t��nt[nue �age
<br /> r�pCa�e the damaged �r destroyed Impro�rements in a manner satisfactory to Lend�r. Lender shall, upon
<br /> sa�isfa��ory proaf o� such expendi�ur�, pay or reimburse Trustor �ram the praceeds �far the reasanable cos� of
<br /> repair or restoration if Trus�ar is not in de�ault under �h�s C3e�d of Trust. Any proceeds whi�h have not b�en
<br /> disbursed within 18� days after their receipt and which Lender has not commi��ed fio �he repair or restoration of
<br /> the Prop�rty shalf be used �irst to pay any amount owing -�o Lend�r under�his Deed o�Trust, �hen �a pay accrued
<br /> interest, and the remaind�r, if any, sha11 be app�ied t� the principal balan�e of �he Endebtedness. I� Lender haids
<br /> any pr�ceeds af�er payment in full o� �he Ind�btedness, such proc�eds sha11 be paid �a Trustor as Trus�ar's
<br /> interests may appear.
<br /> Cvmpliance wi�h Existing [nd�b�edn�ss. Dur�ng th� period in which any Exisfiing Indeb�edness described below is
<br /> in ef�ect, complian�e wi�h the insurance pr��isions cantained in �h� �nstrument e�id�ncing such Exis�ing
<br /> Ind�btedness shall constitute compfiance with the insurance pra�isions under �his ❑eed of Trust, to fihe ext�n�
<br /> campl�ance wi�h the terms a� this ❑eed o'F Trust wouid c�nstitute a duplication ❑f insurance requirem�nt. If any
<br /> proceeds from the insurance becam� payable an loss, the pro�isi�ns in this Deed ❑f Trust for divisian of proceeds
<br /> shall appiy�nly to tha�por�ion af�he proGeeds nat payable to the hnlder of the Exis�ing Indebtedn�ss.
<br /> Trustor's Report an insuran�e. Upon request of Lender, howe�er not mare than once a year, Trustor shall furnish
<br /> to Lender a repart on each existing policy �f insurance showing: t�� the nam� af �he insurer, {�y the r�sl�s
<br /> insured; �3� th� amount o� the pol�cy; �47 the propert}� insure�l, the then cu�rent replacemen� �alue of such
<br /> proper�y, and the mann�r of determining �ha�Wa�ue; and �5� �he expiration date af the policy. Trustar shafl, upan
<br /> request a�Lender, have an independen�r appraiser satis�actory ta Lend�r d�termine the Cash Walue repiacement cost
<br /> of the Pr�per�y.
<br /> LENDER`S EXPENI]1TURES. If any act�on ar proceeding is comm�nced that would materiai�}� affe��t Lender's interest �n
<br /> the Proper�y or if Trus�or fails �o c�mply with any pro�ision o�this Deed of Trus� ar any Re�ated Documen�s, including
<br /> bu� n�� limited �o Trustor's failure �o cc�mply with any obliga�ian ta maintain Existing indefa�edness in gvod standing as
<br /> re�uired below, or to discharge or pay when due any amaunts Trus�or is required to discharge or pay under tnis Deed af
<br /> Trust or any Related Documents, Lender on Trustor's behal� may {but shall na� be obligated -�o� �ake any action tha�
<br /> Lender deems apprapriate, including bu� no� limited to dis�harging ❑r paying aIl taxes, liens, security interes�s,
<br /> encumbrances and other claims, at any time leWie� or p�aced on �he Praperty and paying ail cos�s for insuring,
<br /> maintaining and preserving �he Proper�y. Ali such expenditures incurred or paid by Lender far such purposes will then
<br /> bear interes� a�the ra�e charged under the Note �rom �he date incurred or paid by Lender �o �he da�e of repayment by
<br /> Trustar. Al! such expenses will become a par� of the Indeb�edness and, at Lender's option, wi�l �A� be payable fln
<br /> demand; �B� be added to the balance of the Nate and b� apportioned among and be payabie with any installmen�
<br /> paym�nts fio become due during ei�her �1� �he t�rm of any appli�able insuranc� policy; �r �2} the remaining �erm of
<br /> �he No�e; or {�} be �reated as a bailoon paymen�t which wiff be due and payable at the Nate's maturity. Th� De�d af
<br /> Trust also will secure payment �� th�se amounts. Su�h right shal� be in additivn �o all other righ�s and remedies �v
<br /> which Lender may be entit�ed up�n Defaul�.
<br /> VV�lRRA1VTY; ❑EFENSE�F TITLE. Th�fallowing pro�isions relating to ownership of the Property are a par�o�this Deed
<br /> of Trus�:
<br /> Title. Trust�r warrants tha�t: �a� Trus�ar halds g�od and marketahi� title of record to the Praperty in ��� simpfe,
<br /> free and clear of all ii�ns and encumbrances �ther than those set forth in the Rea! Property descriptivn or in th�
<br /> Exis�ing Ind�b�edness sec�ion bel�w ar in any fiitle insurance policy, titl� repart, or final titfe �pin�on issued in fa�or
<br /> a�, and acc�pted by, L�nder in cannection wi�h th�s Deed ❑f Trust, an�l �b} Trustor has �he full righ�, powe�-, and
<br /> authority to e�cecute and defi�er this Deed of Trust�o Lende�.
<br /> ❑e#ens� of T`rtle. Subject to �he exception in �he paragraph aboWe, Trusfiar warran�s and wilI f�rever defend the
<br /> title to the Property agains�the lawful cfaims of all p�rs�ns. In th� e�en� any a�tian or proceeding is cammenced
<br /> that qu�stians Trustt�r's tifil�or�the interest of Trus�ee or Lender under this Deed af Trus�, Trus�or shall defend the
<br /> ac�ion at Trustor's expense. Trustor may be the nominal parfiy in su�h proceeding, but Lender shall be entitl�d to
<br /> parti�ipate in the proceeding and to �e represented in the proceeding by c�unsel o� Lender's own choic�, and
<br /> Trustor wili deliWer, ❑r cause t❑ be del��ered, to Lender such �nstrum�nts as Lender may request fram time to�ime
<br /> �o permit such participation.
<br /> Cvmplian�e Vtilifih Laws. Trustor warrants �hat the Praperty and Trustor's use of the Property compli�s with a[1
<br /> existing applicable laws, ordinan�es, and regulations of gav�rnmental authorities.
<br /> Sur�iva� nf Represen�atians and Warranties. All represen�ations, warranties, and agreements made by Trust�r in
<br /> this Deed a�Trust shall survi�e �he exe�utian and delivery❑f this Deed o�Trust, shall be con�inuing in na�ure, and
<br /> sha[I remain in full�or�e and effec�un�il such time as Trustor's Indebtedness shall �e paid in fuE�.
<br /> E?CISTING INDEBTE�NESS. The foll�wing pro�isions�oncerning Existin� Indeb�edness are a part of this De�d o�Trust:
<br /> Existing Lien. The �ien of �his Deed of Trus� securing the lndebtedness may be sec�ndary and in�er�or to an
<br /> exEsting lien. Trust�r expressly co��nan�s and agrees �o pay, or see ta the payment a�f, the Ex�s�ing lndebtedness
<br /> and to pr�v�nt any d�fault vn such indebtedness, any detault under the instruments e�iden�ing such ind�b�edness,
<br /> ar any de�au�t under any security do�uments�flr such indebtedness.
<br /> No Modificatian. Trustor shall not enter into any agreement with the holder of any mortgage, deed of trust, or
<br /> other security agreem�n� which has priority oWer this D��d �f Trus� hy whEch tha� agreemen� is modified,
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