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<br /> DEE�D �F TRUST
<br /> Lvan No: 'I���93�9� �Cont�nued} Page 4
<br /> the Administra�vr of�he Federa� Emergency Management Agen�y as a special f�ood hazard area, Trustor agrees to
<br /> ab�ain and mainta�n Federal Fload lnsurance, if a�aiEab[e, for the full unpaid principaE �alance of �he �oan and any
<br /> prior li�ns on the praperty se�uring the Ioanr up ta �he maximum po[icy limits set under the Nationa� Flvod
<br /> Insurance Program� ❑r as vtherwise required by Lender, and ta main�ain such insurance for�he term ❑f�he laan.
<br /> App�ication o�Proceeds. Trust�r shaE[ prvmptE�� nv�ify Lende�af any Eoss vr damage t❑the Prope�ty. Lender may
<br /> make proof of [�ss i� Trus�ar fails ta d❑ so ►n�i�hin #ifteen {'[5} days nf the casualty. VVhether or not Lender's
<br /> security is impaired, Lender may, at Lend�r's election, r�cei�e and retain the p�aceeds ❑f any insurance and app�y
<br /> the pra�eeds t❑ th� reduc�ion of the fndebtedness� payment of any �ien a�#ecfiing the P�nper�y, vr �he restaration
<br /> and repaEr o�the Property. [f Lender elects �❑ apply the proc�eds to restorati�n and repair, Trustor shall repair o�
<br /> r�p[ace the damaged �r destroyed Impro�ements in a manner satis�actory to Lender. Lender shaf�y upan
<br /> sa#is�actory proof v� su�h expenditure, pay or reimburse Trustvr from the proceeds f�r �he reasonabEe cost of
<br /> repaEr or restvratian E� Trustvr is not in default under this Deed a� Trust. Any pra�eeds which ha�e not been
<br /> disbursed within 1 S� days after their receipt and wh�ch Lender has not commi�ted to the repair or res�arafiian v�
<br /> the Prop�rty sha�E be used first to pay any amount owing fia Lender under this ❑eed af Trust, fihen fia pay accrued
<br /> interest, and �he remaEnde�, if any, shaf� be applied to th� princEpal baiance vf�he indebt�dness. ff Lender holds
<br /> any praceeds after paymen� in �ull ❑f the in�ebtedness, such praceeds shaEl be pa�d �❑ Trustar as Trustor's
<br /> Enterests may appear.
<br /> C�mpliance with Existing Indebtedness. I]uring �he p�riod in which any Exis�ing lndebtedness described befvv►r is
<br /> in e�fect, c�mpl�ance wEth the insurance pr��isions contained �n �he instrument evidencing such ExEsting
<br /> lndebfiedness shall canstitute compliance w�th �he insurance pro�isions under this Deed of Trus�, tv the ex�ent
<br /> compliance with �he terms o# �his Deed vf T�-us� would constitu�e a duplicatian ofi insu�ance requirement. l� any
<br /> praceeds �ram the insuranGe become payable on ivss, �he pra�isions in this Deed o�Trus��or di�ision of praceeds
<br /> shal� apply only to that portion o�the proceeds nat payab�e fi❑�he holder of the Existing [ndebtedness.
<br /> Trus#or's Repor#on insurance. Upon request❑f Lender, howe�er no� more �han onc� a year, Trustor shall furnish
<br /> to Lender a r�por� on each exEsting paiicy ❑f insurance shvwing: {1} the name a� �he insurer; �2} fihe risks
<br /> insured; {3} the amoun� of the pv�icy; �4� th� prope��y insured, �he then current replacement �alue of such
<br /> property, and the manner of det�rmining that��iu�; and t5} fihe expirativn date o�the policy. Trustar shali� upon
<br /> request of Lender, ha�e an independent apprais�r satisfactory fio Lender determ�ne�he cash�alue rep�acemen�cost
<br /> ❑�the Prvper�y.
<br /> LENDER'S EXRENDITURES. ��any ac�ion ❑r prflceeding is commenced �hat wvuld materiaily affect Lender's interest in
<br /> #he Property or �f Trus�vr fai[s to �omply wi�h any pro�isivn vf th�s Deed of Trust or any Re�ated Documents, including
<br /> but nvt iim�ted to Trus�or's �ai�ure to cvmply with any abligation to maintain Existfng lndebtedness in good s�anding as
<br /> required be[aw, or to discharge or pay when due any amvunts Trustar is required to discharge or pay under this ❑eed ❑f
<br /> Trust ar any Related Documen�s, Lender on Trustar's behai� may {bufi shall n�t be abligated t�} take any act�on tha#
<br /> Lender deems appropria�e, inc[uding but nat �imi�ed ta discharging ❑r paying a�l taxes, liens, securi�y interes�s,
<br /> encumb�ances and ❑ther cEaims, at any time le��ed ar placed an the Property and paying all casts ��r insuring,
<br /> main�ain�ng and preser�ing the Proper#y. All such expendifiures incurred �r pa�d by Lender�For such purp�ses wi[[ then
<br /> bear interes� at the ra�e charged under the Nate from �he dat� incurred or paid by Lender t❑ the da�� of repayment hy
<br /> Trusto�. A�! such expenses wil[ }�ecome a part ❑f-�he indebtedness and, a� Lender's ❑ptivn, will tA� be payabl� an
<br /> demand; {B} be added t� �he balance o� �he Na��e and b� appar�ivned among and be payable with any insfiallment
<br /> payments to become due during either {1} �he tsrm of any appEi�alvle insurance policy; ar ��} the remaining term af
<br /> the Nv�e; or {C} be treated as a ba�laon payment v�vhich will be due and payable at the Nvte's maturity. The Deed of
<br /> Trust a�sa wiil secure payment ❑f th�se amoun�s. Such right shail be in additivn to ai! other rights and remedies �o
<br /> which Lender may be ent�tled upvn Default.
<br /> WARRANTY; DEFENSE�F TITLE. The following pro�isians relating to ownership o�the Property are a part of this Deed
<br /> vf Trust:
<br /> T�t�e. Trus�or warrants that: �af Trustar holds gvod and marketahle title of record ta the Prop�rty �n �ee simp�e.
<br /> free and clear of all liens and encum�ran�es a�her than those set forth in fihe Real Proper�y description or in the
<br /> Existing Indeb�edness sectivn belaw or in any titEe insurance policy, title report, or final ti#[e opinian issued in fa�ar
<br /> of, and accepted by, Lender in canneGtivn w�th this Deed ofi Trust, and �b} Trustar has the fu[I rEght, power, and
<br /> autharity to execute and deli�er this Deed vf Trcast to Lender.
<br /> De�ense of Ti�ie. 5ubjec� �o the exception in �the parag�aph above, Trustvr warrants and will for��er defend �he
<br /> titi� ta '�h� Prvperty against fihe lawful claims of all persons. �n �he e�ent any action or proceeding is camm�nced
<br /> that quesfiians Trusfiar's �itle or�h� Enterest❑f Trustee or Lender under th�s Deed ❑f Trust, Trustvr sha�� defend �he
<br /> act�on a�Trustor's expense. Trus�or may be the nomina� par�y in such proceeding, but Lender shali be enti�ied t❑
<br /> par�i�ipate in �he proceeding and to b� represented in the proceeding by counsel af Lender's nwn choice, and
<br /> T�us�or wi�i deli�er, or�ause to be d��i�ered, �a Lender such instruments as Lender may �-eques�from time t❑time
<br /> �v permit such participatian.
<br /> Cvmpliance V1ri�h Laws. Trustor wa�rants tha� �he Properfiy and Trus�ar's use of the Pr�p�rty �ompiies with all
<br /> existing applicahle laws, ardinances, and regu�ations af go�ernmenta[ authorities.
<br /> Survival of Representa�ians and Warranties. A.�f representations, warranties, and agreements made by Trus�or in
<br /> this Deed of Trus�shal[ sur���e�he execution and deli�ery ot this Deed of Trust, shall be continuing in na�ure, and
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