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2� 1 �� 1519
<br /> DEED �F TRUST
<br /> Loan Nv: 'I�1294�1? �C�]tltinued} Page 4
<br /> and repair �f the Proper�ky. If Lender elec�s to apply the proceeds to res�ora�ion and repair, Trustar shali repair ❑r
<br /> t�ep(ace the damaged or destroyed Imprv�ements in a manner sa�is�actory �ro Lender. Lender shall, upon
<br /> satisfactary proof of such expendi�ure, pay or reimburse Trustor fram the proceeds for �he reasvnable cost of
<br />� repair or t�estoration if Trustor is nvt in defaul� under this ❑eed of Trust. Any proceeds whtch ha�e n�t been
<br />� disbursed within 18�] days af�er th�ir receip� and whi�h Lender has nat committed to the repair or res�aration afi
<br /> the Prop�r�y shall be used first to pay any amount awing �o Lender under�his Deed ot Trust, then to pay accrued
<br /> in�er�s�, and the remainder, if at�y, shal� be app[ied �o the principal baiance o�the lndebtedness. �f Lender ha�ds
<br /> any proceeds after paymen� in -�u�� o� the Indebtedness, such proceeds shall be paid to T�ustar as Trus�or's
<br /> in'�eres�s may appear-.
<br /> Trusfor's Repvr�on lnsuran�e, Upon request of L�nder, howe�er nflt more �han ❑nce a year, Trustor shai� furnish
<br /> ta Lender a repart nn each exfsting policy of insurance shawing: {1} the name a� �he insurer; t�� �the risks
<br /> insured; (3} the amount o� the policy; {4} �he proper�y insured, the then �urren� replacemen� �alue ❑f such
<br /> praperty, and �khe manner of determining that valu�; and {5� �he expiratian da�e ❑f�he policy. Trustar shall, upon
<br /> request of L�nder, ha�e an independent appraiser satisfac�ory to Lender de�ermine the cash value replacemen�cost
<br /> , vf the Property.
<br /> LENDER'S EXPENDITURES. [f any action vr proceeding is �ommenced that wou�d ma�erially affect Lender's interest in
<br /> th� Prnper�y or if Trustar fails to comply with any pro�isian �f th�s aeed �f Tt�ust ar any Related Do�uments, including
<br /> bu� na� limi�ed ta Trustor's failure to discharge or pay wh�n due any amounts Trustor is required to discharge or pay
<br /> und�r this ❑eed o�Trust or any Related D�cuments, Lender on T�ustor`s behalf may �but sha�l not be ob��ga�ed ta} �ake
<br /> any ac-�i�n that Lend�r deems apprapriate, �nc�uding hu� not limi��d �o discharging ar paying all taxes, siens, s�curity
<br /> interestsy sncumbrances and ather claims, at any time le�ied ❑r pla�ed an�he Prop�rty and paying a[� costs for insuring,
<br /> maintaining and preser�ing the P�aperty: All such expenditures incurred ar paid by Lender far such purposes will then
<br /> bear interest at�he rate charged under the Nate fr�m the dat� incur�ed or paid by Lender to the date of repayment by
<br /> Trustor. All such expenses will be�ome a part vf the Indebfi�dness and, a� Lender's aption, will �A� be payable ❑n
<br /> demand; �B} be adaied ta �he balance of the Note and b� app�r�tioned am�ng and be payafole wi�h any instailment
<br /> payments to �aecome du� during ei�her {�} the fierm ❑f any appl�cab[e insurance policy; ❑r ��} the r�maining term of
<br /> -�he Note; or �C} be fireated as a balloon paym�n-� which wi[I be due and payable at�h� No�e's maturity. The ❑eed of
<br /> Trust als� wi�l seCure payment o� these amvunts. Such righ� sha�[ be in addition to all ather rights and remedies �o
<br /> �
<br /> which L�nder may be enti�led upon Defaul�.
<br /> WARRANTY; ❑EFENSE�F TETLE. The foilowing pro�isivns relating to ownership af the Property are a par�of this D�ed
<br /> of Trust: '
<br /> Title. Trustor warrants �hat: �ay Trustor holds govd and marketala�e title of record tt� �he Property in fee simple,
<br /> free and clear ot all [iens and encumbrances o�her than �hose set f�rth in th� F��al Prvperty descrip�ion or in any
<br /> : title insuran�e policy, title �epart, or tina[ title opinion issu�d in fa�or �t, and accep#ed by, Lender in conn�ction
<br /> with this ❑eed af Trust, and {b} Trus�or has�he �ull right, power, and authority�o execute and deli�er this ❑eed of
<br /> Trus�to Lender.
<br /> Defense of Title. 5ubject to �he exception in the paragraph abo�e, Trustor warran�s and will fiore�er d�tend the
<br /> ti�le to th� Praperty against�he �awful c[aims o� all persans. In the e�ent any ac�ian or pro�eeding is commenced
<br /> �hat quest�ons Trustar's tit[e ❑r the interest o�Trustee or Lender under this Deed �f Trust, Trustor shall defend the
<br /> action at T�ustar's expenss. Trustvr may be the nominal party En such proceeding, but Lender shal! be entitled t�
<br /> � par�icipate in the prviceeding and �o be repr�sen�ed in the pro�eeding by cvunsel af Lender's ❑wn choice, and
<br /> Trusto� will deliWer, �r cause to b� deli�ered, ta Lender such instruments as Lender may request frvm �ime t❑ �ime
<br /> to perm�t su�h participation.
<br /> �ompEiance V11ith Laws. Trustor warrants that the Property and Trustar's use of �he Property complies with alI
<br /> ex€sting applicable laws, ordinances, and r�gula�ions of gvWernmen�al au�hori�ies.
<br /> Sur�i�al o� Represen#ations artd lllrarranties. All representatians, warranties, and agreements made by Trus�ar in
<br /> , this Deed o�Trusfi shall sur�i�e the execution and deli�ery ❑f this Deed ❑fi Trus�, shall be con��nuing in na-�ure, and
<br /> shall remain in-Ful��o��e and effect unti� su�h time as Trustar's Indebtedness shall be paid in full.
<br /> � C�NDEN[NATI�N. The�o�[flw�ng pro��sEons re[ating to candemnation praceedings are a par�of this ❑eed o�Trust:
<br /> Praceedings. It any proceeding in condemna�ion is filed, Trus�or shall promptly notify Lender in wri�ing, and
<br /> Trusto� sha�[ prarnptly take such steps as may be necessary �o defend the action and obtain the award. Trust�r
<br /> may be�he naminal party in such proceeding, but Lender shaii be entitled to participat� in the pro�eeding and to be
<br /> rept-esented in the proceeding by ��unsel of i�s ❑wn choice, and Trus�or will deli�er or cause to �ae deli�ered �❑
<br /> Lender su�h instrumen�s and d�cumen�ation as may b� reques�ed by Lender from tim� �o time to permit such
<br /> participation.
<br /> Applica�ion of Net Proceeds. It ai� or any part�f the Property is �andemned by emin�nt damain proceedings or by
<br /> any proce�d�ng or purchase in �ieu of caridemna�ian, Lender may at i�s elec�ion require that all or any por�ian of the
<br /> n�t proceeds of �he award be applied �o the Indefatedness or �he repair or r�st�ra�i�n of the Property. The ne�
<br /> proceeds ❑f the award shall mean the award a�ter paymen� v� all reasanable costs, expenses, and attorneys' fees
<br /> incurred by Trus�ee ❑r Lender in connec�ian with the condemnatian.
<br /> IMP�SITI�N flF TAXES, FEES AN❑ CHAR�ES BY G�VERNMENTAL AUTH�RITIES. The �o[lowing pro�isians r�lating
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