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2� 1 �� 1721
<br /> DEED �F TRUST
<br /> Loan No: 'I�'i 2943�7 �Continued} Page 4
<br /> the proceeds to the reductian v�the indeb�edness, payment o� any lien affectin� the Proper�y, or fihe res�oratEan
<br /> and repair o�the Praperty. [f L�nder e�ects ta app�y the proceeds �v restoratian and repair, Trustar shall repair or
<br /> rep[ace the damaged vr des�royed impro�emen�s in a manner satistacto�y ta Lender. Lend�r shali, upon
<br /> satisfactary proaf of such expendi�ure, pay or reimburs� T�usfior from the proceeds �or the reasanabE� �ast vf
<br /> repair or res�ora�ian if Trustor is nat in de�au[t under �his Deed ❑f Trust. Any prviceeds which ha�e not heen
<br /> disbursed within �8� days after �heir receipt and which Lend�r has not cammitted to the repair or restoration o�
<br /> the Praper�y shall be used fiirs�t� pay any amount owing to Lender under�his Deed ot Trus�, then �o pay accrued
<br /> interest, and the r�mainder, i� any, shall be appiied ta the principai ba[ance o#�he Indebtedness. if Lender hoids
<br /> any proceeds after payment in fuil �f the �ndebfiedness. su�h praceeds sha[� be paid �o Trustar as Trus�or's
<br /> interests may appear.
<br /> Trustor's Report on �nsurance. �pan request of Lender, howeve� nvt mare than ance a year, Trustor shall �urn�sh
<br /> tv Lender a r�part nn each existing poficy af insurance showing: t�� the name o� the �nsurer; t�} the �l5IC5
<br /> insured; {3} �he amaunt a� the palicy; �4y the praperty insured, the then current rep�acement �a�ue ❑� such
<br /> praperty, and the manner a�de�ermining that�alue; and {5� the expiration date ❑�the po�icy. Trust�r sha��, upon
<br /> reques�of Lender, have an ind�pendent appraiser sa�isfa�tory tv Lender determin�fihe cash�alue rep[ac�m�n�cos�
<br /> o�th� Property.
<br /> LENDER'S EXPENDITURES. If any action ar proceeding is �ammen�ed that wvuld materialiy affect Lender's interest in
<br /> the Proper�y or it Trustar�ails to comply with any pro�isian ❑�this Deed o�Trust or any Related Documents� inc�uding
<br /> bu� no� limited to Trustor's fai[ure ta dis�harge ar pay wh�n due any amaunts Trust�r is required to discharge or pay
<br /> under fihis Deed af Trust or any Related Documents, Lender on Trustor's behalf may {but shal� no�be obligated to� �ake
<br /> any activn tha� Lender deems appropriafie, includEng but not �imi�ed ta discharging or paying a!I �axes. i�ens, security
<br /> interests, encumbrances and o�her�laims, at any time ie�ied or placed on fihe ProQerty and paying afE cas�s tor insuring,
<br /> main�aining and preser�ing the Proper�y. Ail such expenditures incurred or paid by Lender�or such purposes wil! then
<br /> �ea� in�erest at the rate charged under the Nate �rom the da�e incurred �r paid by Lender ta �he date o� repaymen� by
<br /> Trustvr. Ali such expenses will became a part �f �the �ndeb�edness and, at Lender's nption, w�ll �A� be payab�e �n
<br /> demand; {B} be added to the balance af the Nate and �e appar�ioned amvng and be payable wi�h any ins�al[ment
<br /> payments to �ecome due during �Ethe� ��y the term of any appli�able Ensuranc� palicy; ar �2f the remaining term of
<br /> the Nvte; or �C} be trea�ed as a balloan payment whEch wEli be du� and payab�e at the Note's maturity. The Deed o�
<br /> Trus� als❑ wi�i secure paymen� of these amounts. 5uch right shall be in addition �� ai� o�her rights and remedies to
<br /> which Lender may he en�itled upon aetauit.
<br /> 1JVARRANTY; DEFENSE�F T�TLE. The fvliowing pra�isians relating to ownership of#he Prope�ty are a part o�this ❑eed
<br /> o�Trus�:
<br /> Title. Trust�r warrants �hat: �a} Trustor holds good and ma�ke�able title o� recard �a �he Prvperty in �ee simp[e,
<br /> free and c�ear �� all liens and encumbrances other than those set �Forth in �he Rea! Property descript�on or in any
<br /> ti�le insuran�e po��cy, tit�e repvrt, or finaf title vpinion issued �n ta�or ❑f, and accep�ed by� Lend�r in connectivn
<br /> with this Deed a�Trus�, and {b} Trus�vr has the fu[[ right, pow�r, and author�fiy to execute and deli�er#his Deed❑f
<br /> Trus��v Lender.
<br /> Defense of TitIe. 5ub�ec� to the excep�ian in the paragraph abo�e. Trustor warrants and wiE! fare�er de�end �he
<br /> t�t�e�o th� Property against the lawful claims of aI[ persvns. [n the e�ent any a�fiion or proceeding �s cammenced
<br /> that quesfiions Trustor's tEtle or th� �n�er�st o�Trustee or Lender under this ❑eed of Trust, Trustor shall defend the
<br /> act�on at Trustor's expense. Trustor may be the n�minal party in such praceeding, but Lender shafl be �ntit�ed t�
<br /> participate in the proce�ding and �a be represented in the proceeding by counse� af Lender's awn chaice, and
<br /> Trusto�v►rili deli�er, or�aus� �a be deli�er�d, �o Lender such instruments as Lende�may request from time to time
<br /> ta permi�such participation.
<br /> Complian�e Wi�h Laws. Trus�ar warrants that the Property and Trustar's use ❑� the Proper�y cvmp�i�s with all
<br /> ex�s�ing applicabl� �aws, vrdinances, and regulations o�go�ernmenfial authorities.
<br /> Surviva! of Representatians and Warranties. A!! representatians, warranties, and agreemen�s made by Trusfior in
<br /> �his Deed of Trust sha[[ sur�i�e the execu�ion and deli�ery vf�his Deed vf Trus�, sha�� be cont�nuing in nature, and
<br /> shall remain�n ful�farce and effe�t untii such time as Trustor's [ndeb�edness shall be paid in�ui�.
<br /> C�NDEMNATIDN. The fvllowing pro�isEons r��ating tv c�ndemnation proceedings are a par�af this Deed vf Trust:
<br /> Prviceedings. 1# any pr�ce�ding in condemnat�vn �s filed, Trustar sha[I prompt[y noti#y Lender in writing, and
<br /> Trus�ar shal! promptly take such steps as may be necessary �o de��nd the a��ion and ahtain the award. Trus�or
<br /> may be the n�minal party in such prviceeding, but Lender shal� be entiti�d tv participate in the proceeding and to �e
<br /> represent�d in the proceeding by counsel of its own chaice, and Trustor wiii deli�er ❑r cause to be deliWered to
<br /> Lender such instruments and dacumentation as may be reques�ed by Lender f�om time to time t� pe�-mit such
<br /> participatEan.
<br /> Application of Net Proceeds. 1�all ar any part of the Prape�-ty is condemned by eminent domain proceedings or by
<br /> any proceeding or purGhase in lieu af condemnativn, Lender may at its elec#ion re�uire tha�t all or any partion o�the
<br /> ne� praceeds o� �he award be app�Eed to the �ndebtedn�ss ar the repai�- vr restvration vf the Proper�y. The ne�
<br /> proCeeds of the award sha�� mean the award after paymen# of all reasonahle c�s�ts, expenses, and attarneys' fees
<br /> incurred by Trusfi�e❑r Lender in cannectivn with the condemna�ion.
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