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� 2� 1 �� 1 �83
<br /> DEE❑ �F TRUST
<br />' Laan Nv: '1�'1�94��5 {�antinued} Page 4
<br />;
<br />� shall include an endorsement proWiding fiha�cv�erage in fa�or❑�Lender will nat be impaired in any way hy any a�t,
<br />, amission or de�aul�af Trustar or any ❑ther p�rsan. 5hau�d the Real Prvper�y 1ae loca�ed �n an area designated by
<br /> �he Administrafiar❑��the Federal Emergen�y Managem�nt Agency as a special �fl��d hazard area,Trus�or agr�es�k❑
<br />. ❑bfiain and main�ain Federal Flood [nsurance, if a�ai�ab�e, wifihin 45 days after no�ice �s given I�y Lende�-fiha� the
<br />� Property is IvGated in a special�1avd ha�ard area, far the fu�1 unpaid prinGipa� balance vf the lvan and any pria�liens �
<br /> an�he praper�y securing the lnan, up�o�he maximum p�licy limits se�under�he National Flood lnsurance Pragram,
<br /> or as ❑�herwise required by Lend�r, and�o maintain such insurance�or the�erm of�he laan.
<br />� ;
<br /> Appli�afiivn of Prv�eeds. Trus�ar sha4i promp�ly noti�fy Lender of any lass ar damage�a�he Praperty. Lender may �
<br /> ma�e pro�-� of Ivss i� Trustor fails t❑ dv so wifihin fif�een ��5� days ofi the casual�y. VVhefiher vr nofi Lender's ;
<br /> securi�ty is impaired, Lender may, at Lende�r's elec�ian, recei�e and retain �he proceeds o� any insurance and apply
<br /> the proceeds to the reduction o�fihe lndebtedness, paymen� af any ��en a�f�c�ing the Property, or the restoration �
<br /> and repair of�he Proper�y. 1�F Lender elecfis �a apply the praceeds �o restora�ian and repair, Trus�ar sha[f repair ar
<br /> rep�a�e the damaged or des�rvyed lmpro�ements in a manner satisfactvey to Lender. Lender shall, upon
<br /> satis�actory proaf ❑�f such expenditure, pay or reimburse Trustor from the proceeds �or the reasanable �os� of
<br /> repair or resfivration �� T�us�or is not in defaul� under this ❑eed ❑f Trusfi. Any pro�eeds which ha�e not t�een
<br /> disl�ursed wi�hin �8� days af-ter their rec�ip� and which Lender has not commit�ed t❑ �he repair ❑r �estora�ian of
<br /> the Property shall be used �irst tv pay any amounfi owing fi❑ Lender under�his ❑eed o�Trust, then�v pay accrued
<br /> in�eres�, and the remainder, i� any, shall be app[ied �o �he principal ba�ance of the Indeb�edness. lf Lender holds
<br />' any prv�eeds after paymen� �n full o�F �he Indebtedness, such praceeds shall be paid �o Trustor as Trustor`s
<br /> interes�s may appear.
<br />: Trustvr's Repor�on lnsurance, �pon reques�❑� Lender, h�we�e� nat mvre�han once a year, Trustvr sha(f �urnish
<br /> �o Lender a repor� on each �xisting policy of insurance shawing: ��� the narne ❑f the insurer; ��� �he risks
<br />� insured; {3� �h� amvunt ofi the policy; �4� �he properfiy insuredi the then curren� rep�acement �a�ue of such
<br /> proper�y, and the manner o�de�ermining�hat�alue; and ��y the expira�ion da�e o�the policy. Trustor shall, upon
<br />. request vfi Lende�, haWe an independen�appraiser sa�isfactory fia Lender de�erm�ne�he cash�alue replacement cos�
<br /> o��h� Property,
<br /> LEN�ER'S EXPENDIT!]RES. �f any ac�ion or proceeding is c�mmenced that w�uld materiafly affi�ct Lender's in�eres� in
<br /> �he Proper�y or Ef Trustor-�ails �t� �omply wifih any pro�ision of this �eed ❑f Trus� ❑r any Rela�ed Documents, including
<br /> bu� nat limi�ed �o Trustvr`s failure to discharge vr pay when due any amounts Trustor is requ�red �o discharge or pay
<br /> under this Deed af Trus�t or any Related Documents, Lender on Trus�or's behalf may �bu�shall no�be obligated�to� take
<br /> any action �ha�k Lender deems appropria�e, including bufi no� limited tv discharging vr paying alI �axes, �iens, securi�y
<br />' in�erests, enGumlaranc�s and o�her claims, a�any time.le�ied ❑r placed on the Prflperty and paying all cos�s for�nsuring,
<br />; maintaining and preserving the Proper�y. A�I such e�pendi�ures incurred or paid by Lender�or such purpases wi11 then
<br />� hear infierest at the rate charged under�he Nofie �ram �he date in�urred vr paid by Lender to the da�e o-F repaymen� by
<br /> Trus��r. All such expenses wi�l became a par� of�he Indebtedness and, at Lend�r's ❑ption, wi�f �A} be payab�e vn
<br /> demand; �B} be added to the balance ❑� the Note and be apportioned amang and he payable wi-�h any installment
<br /> paymen�s �o �ecome due during ei�her ��� the �erm a� any applicabie insurance p�licy; or {�} �he remaining term v�
<br /> the Nofie; ar �C� be �reated as a ballovn payment which w�ll be due and payable at the Note's ma�urity. The D�ed o�
<br /> Trust als❑ v+rill secure paymen� of�hese amoun�s. 5u�h right shall be in addition to all other righ�s and remedies ta
<br /> which Lender may be�nti�led upon ❑efault.
<br /> VIIARRANTY; DEFENSE OF T[TLE, Th�following pro�isions relating t❑ awnership of the Proper�y are a par�a��his Deed
<br />' a�Trust:
<br /> Tit�e. Trus�vr warrants �hat: {a� Trusto� holds good and marketable �i�le ❑f recard to fihe Proper�y in �ee simple,
<br /> �ree and clear o� alf liens and encumbran�es ❑ther than those se�t fvrth in the Real Property descrip�ian �r in any
<br />� �itle insurance po[icy, �itle repart, vr �inal tit[e apinian issued in fa�ar of, and accep��d by, Lender in connectinn
<br /> wi�h�his �eed o-F Trus�, and {b� Trus�or has�he�ull rig�t, pawer, and authority�a execu�e and de�iver this Deed ❑f
<br /> Trus�to Lender.
<br /> De�ense of Tifi�e. Subjec��❑ �he excep�ian in the paragraph abo�e, Trus�ar warran�s and will fare�er de�end �he
<br /> title ta the Property against th� law�u� claims o� all persvns. [n the e�en�any action ❑r prac�eding is commenced
<br /> �hat questions Tr-ustor's title�r the in�erest v�Trustee or Lender under this ❑eed vf Trus�, Trus�ar sha11 defend�he
<br /> action at Trus�ar's expense. Trus�or may be the nominal par�y in such praceeding, but Lend�r shall be en�i�led ta
<br /> partic�pa�e in �he proceeding and ta be represen�ed in the praceeding by counsel o�F Lender's own choice, and
<br /> Trustar wi�l deliver, ❑r�ause�❑ he deli�ered, �❑ Lender su�h instruments as Lender may request from -�im�t❑�ime '
<br /> �v permit such parfiicipafiion.
<br />' Comp[ian�e V1li�h Laws. Trustor warrants that �he Property and Trustor's use af the Pr�perty complies wi�h all
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<br /> existsng applicab�e laws, ordinanc�s, and regula�ions a�gvvernmental authari�ies.
<br /> 5ur��val vf Representativns and Warranties. A!! representations, warrant�es, and agreemen�s made hy Trustar in
<br /> this Deed o�F Trust shall sur�iWe�he execution and d�liWery of this Deed of Trus�, shall 1oe cvntinuing in na�ure, and
<br /> shall remain in fu(I force and ef�ec�until such time as Trus�vr's lndebtedness sha�� be pa�d in full.
<br /> C�NDEMNATl�N. The following pro�isians relating�❑ condemna�ion proceedings are a part❑�this Deed of Trust:
<br />, Proceedings. I� any praceeding in condemnation is �Fil�d, Trust�r sha�� promptly nvfiify Lende� in wri�ing, and
<br /> Trus�or shall promp�ly fiake such steps as may be necessary �o defend the ac�ion and ❑btain th� award. Trus�or
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