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2� 1 �� 14�3
<br /> �EED �F T1�U�T
<br /> �Cont�nued} Pa�e �
<br /> hazard, busin�ss interrup��on, and i�oiler insurance, �s L�nder may reasanabfy requ�re. Policies shall be written in
<br /> �orm, amounts, co�erages and basis reasonably acceptable ta Lender and issued by a ��mpany or cQmpanies
<br /> reasonably acceptab�e t❑ Lender. Trustor, upvn request vf Lender, wil� �ieli�er tv Lender frvm time to time the
<br /> policies ar certificates of insurance in form satisfactory ta Lender, inc�uding stipulativns that ca�erages witl nat be
<br /> cancelled vr diminished without at�east thirty �30} days privr written notice to Lender. Each insurance po�icy also
<br /> shall include an endvrsement pro�iding tha�co�erage in favor of Lender will not be impaired in any way by any act,
<br /> amissivn vr default o�Trusto�❑r any other persan. Shauld the Real Property be lvcated in an area designated by
<br /> the Adrninistrator of#he Federal Emergency Management Agency as a special�lood hazard area, Trustor agr�es tv
<br /> obtain and main�ain Federat Fload �nsu�ance, if avail2�hle, far the ful� unp�id principai baEan�e of the loan and any
<br /> prior liens on the property secur�ng the Ioan, up �a the maximum pali�y limits set under the Natianal F�oad
<br /> [nsurance Program,�r as otherwise r�quired by Lender,and to main�ain such insurance for the term vf the loan.
<br /> Appli�ation of Rroceeds, Trustor shall promptly notify Lender af any�oss vr damage to�he Property. Lender may
<br /> make proof of Ioss if Trustor fails t� do sQ wi�h in �ifteen �'�5} days of the casua�ty. VVhether vr nvt Lender's
<br /> security is impaired, Lender may, at Lender's ele�ti�n, recei�e and retain�he proceeds vf any insurance and apply
<br /> the proceeds to the reduct��n of the Indebtedn�ss, payment of any lien affecfing the Prvperty, ❑r the restora��vn
<br /> and repair❑f the Prvperty. if Lender elects tv apply�he proceeds t❑ res�orafiion and repair, Trustar shall repair or
<br /> replace �he �amaged vr destra�ed lmpravements in a manner satisfactory �o Lender. Lender sha[I, upon
<br /> sa�isfactory proof ❑f such expenditure, pay or reimburse Trustor from �he praceeds for th� reasonable cost of
<br /> repai� ❑r restoration �� Trus�ar is not En default under this ❑eed of Trust. Any pro�eeds which have not been
<br /> disbursed within '�8D days after�heir re�eip� and which Lender has n�t cammitted to the repair vr restaratian of
<br /> fhe Prvperty shall be used firs�to pay any amoun�owing tv Lender under this Deed o�Trust,then �o pay accrued
<br /> int�res�, and the remainder, if any, shall be applied tv the principat ba�ance of the fndebtedness. lf Lender holds
<br /> any pr�ceeds after payment in full of the �ndebfiedness, such proceeds shal� be paid �o Trustar as Trus#�r's
<br /> interests may app�ar.
<br /> Trustar's Repo�t vn lnsuran�e. Upon reques�of Lender, �awever nat mare than once a year,Trustar shall furnish
<br /> to Lender a repart an each existing pol3�y o� insu�ance shvwing: �'1 y the name vf the insure�; �2} the risks
<br /> [nsured; �3} the amvunt of the policy; �4} the prope�[y insured, the �hen current replacement �alue ❑� such
<br /> property, and the manner o€determining that va�ue; and �5} the expiration date of�he policy. Trustor shal�, upvn
<br /> request of Lender, ha�e an independent appraiser satisfactory to Lender determine�he cash�alue rep�acement cost
<br /> v��he Property.
<br /> LENDER'S E?�PENDITlJRES. 1�any action or proceeding is commenced�hat would materially aff�ct Lend�r's interest in
<br /> the Praperty❑r if Trustor fails ta c�mply with any pro�isian of this D�eed vf Trust or any Rslated Dvcuments, including
<br /> but not limited to Trustvr's failu�-e ta d�s�l�arge or pay when due any amounts Trusto�-ss requir�d to dischar�ge or�aay
<br /> under this DeEd of Trust or any Relat�d Dvcuments, Lender on Trustor's behal�may�but shall nat be obligated ta}take
<br /> any action that Lender deems appropriate, including but nat [imited to d�scharging or pay�ng a!l taxes, [iens, secur��y
<br /> i nterests, �ncumbrances and ather clai ms,at any�i me le�ied ar p[aced on the Prope�ty and payi ng al f cnsts�or i nsu ri ng,
<br /> main�aining and preserving the Prvperty. AII such expenditures incurred vr paid by Lender for such purposes will then
<br /> bear interest at the ra�e charged under�he hlote from the dafie incurred or paid by Lender to the dat�of repayment by
<br /> Trustor. All such expenses will beo�me a part of the Indebtedness and, a� Lender's op�ion, wsil �A} be payable on
<br /> demand; tB} he added to the balan�e af the Note and t�: apportioned arr�ng and he paya[�!�with any installment
<br /> payments to �come due during either �1} the term a�any applicab�e insuran�e po4icy; or �2} ���remainsng term af
<br /> the Note; vr �C} be treafied as a balloon payment which will be due and payab�e at the hlote's maturity. Th�Deed of
<br /> Trust a�so will se�ure payment o�these amounts. Su�h right shall be in addition to all o�her rights and �emedies t4
<br /> which Lender may be entitled upnn aefault.
<br /> 1NARRANTY; DEFENSE OF TITLE. The following provisions relating to owne�-ship❑f�he Property are a part of�his Deed
<br /> vfi Trust:
<br /> Title. Trustor warran�s tha#: �a}Trustor halds goad and marketable title ❑�r�cord to th� Property in fee simp�e,
<br /> free and clear fl�all liens and encumbrances ather than those set forth in t�e Rea�l Property descrsp�ivn or in any
<br /> title insu�ance po�icy, title report, o�-final title ap�nion �ssued in fa�or of, and accepted by, Lender in connection
<br /> wi�h th�s Deed v�Trust,and {b}Trusto�has the fuil righ�, pawer, and authori�y to execute and deli�er this Deed of
<br /> Trust to Lender.
<br /> D�fense of Tifl�. 5ubject to �he excep�ion in �he paragraph aboWe, Trustar warrants and wifl ���e�er de�end �he
<br /> title tv the Praperty againsf th� law�ul claims af alI persvns. fn the event any action or prviceeding is cammenced
<br /> that questions Trustar's title or the �nterest o�Trustee or�ender und�r this Deed nf Trust,Trustor shall defend�he
<br /> activn at TrustQr's expense. Trus#or may be the nomina! party in such pro�eeding, but Lend��-sha[I be entitled �o
<br /> parti�ipate in the praceeding and #o be represented in the proceeding by cvunseE af Lender's vwn choice, and
<br /> Trustor will deliver, ar cause to be delivered,�o Lend�r suCh ins�ruments as Lende�may request from �ime ta time
<br /> �o permit Su�h participat�on.
<br /> Compiian�e 1Nith Laws. Trustar warrants fihat the Praperty and Trustar's use o� the Prap�rty c�mplies with afl
<br /> existing applicak�le laws, vrdinances,and regulatians of gavernmental authorities.
<br /> Survival o�Representations and �arranties. All represen�ations, warran��es, and agreements made by Yrustor in
<br /> this Deed o�Trust shall survi�e the executi�n and de�ivery of this Deed of Trust, shall be con�inuing in nature, and
<br /> sha���emain�n�ull force and�ffect until such time as Trus�or's Indebtedness shall be paid in full.
<br /> C�NDEMNATIDN. The following provisions re�ating to �vndemnatinn praceedings are a part of this Deed of Trus�:
<br /> Proc�edings. If any proceeding En cvndemnation is fi[ed, Trustor shall prampt[y notify Lender in writing, and
<br /> Trustor shal! prvmptly take�u�h steps as may be necessary ta defend the ac�ion and vb�ain the award. Trustar
<br /> may be�he n�minal party in such prooeeding, but Lender shafl be entitled to participate in t�e pro�eeding and to be
<br /> represen�ed in fh� praceeding by counsel of its awn choice, and Trustor will deli�er or c�use ta he deli�ered tv
<br /> Lender such instruments and documentativn as may be requested by Lend�r�Fram �ime �o time to perm�t such
<br /> parti�ipation.
<br /> Applacativn of Net Praceeds. �t all❑r any part of the Prr�perty is�andemned by eminent domain proc�edin�s ar by
<br /> any praceeding ar purchase in iieu of condemnation, Lender may at its elec�ion require tha�al�or any portion v�the
<br /> net prooeeds of the award be applied �a the lndebt�dness or the repair vr restaratian vf�he Property, The net
<br /> proceeds c�f the award shall mean�he award after paymen�of a�l reasvnab�e cvsts, expenses, and attorneys'�ees
<br /> incurred by Trustee ar Lender in c�nnectivn with the condemnation.
<br /> IMP�5ITIQN �F TA]�ES, FEES ANO CHARGES BY GC]VERNMENTAL AIJTHD�ITIES. The follawing prv�isivns relating
<br /> to gv�ernm�ntal�axes,fees and charges are a part of this Deed of Trust:
<br /> �urrent Taxes, Fees and Charges. Upon request by Lender, Trustvr shall execute such dvcuments in additivn to
<br /> this Deed of Trust and take whate�er o#her action is requested by Lender to perfecf and continue Lender's �ien an
<br /> the Real Property. Trustor shalC reimburse Lender�or all taxes, as described �elow, tage#her wi�h al[ expenses
<br /> �ncurred in recvrding, perfe�ting vr cantinuing this Deed of Trust, in�luding withaut limitation a11 taxes, �ees,
<br /> documentary stamps,and�ther charges for recvrdEng or registering this Deed of Trus�.
<br /> Taxes. The fv[Ivwing shall consti�ute taxes �o which this section applies: ('�} a specifiic tax upon this type ❑�
<br /> Deed nf Trust or upc�n al� vr any par� of the lndebtedness se�ured by this Deed of Trust; ��� a specific tax an
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