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2� 1 �� 1749
<br /> DEE� �F TRUST �
<br /> L�an No: 'I D��93�5�4 ��ontlnue�} Page 4
<br /> any pro�eeds after payment in �uli of the Indebtedness, such proce�ds sha�l be paid to Trustor as Trustor's
<br /> in�erests may appear.
<br /> ComptianGe wi#h Exis�ing Indeb#edness. During fihe period in which any Existing Indebtedness described beiov►r is
<br /> in e�fe�t, cvmp�iance with �he insurance pro�isions cantained in the instrument e�idencing such Existing
<br /> �nde�tedness shall constitu�e complianc� with the �nsuran�e p�o��sions under this Deed o� Trus�, tv the ex�ent
<br /> camp�iance with the terms of this Deed ❑�Trust would cvnstitu#e a duplicativn of insurance requiremen�. lf any
<br /> proceeds #�om the insurance become payab�e on [oss, the �ra�isions in�his Deed af Trust for di�rision of proceeds
<br /> shall app�y only tv tha�partion❑f the proce�ds no�payable to the holder❑�the Existing Ind�b�edness.
<br /> Trustor's Repor�on �nsurance. Upon requ�s�of Lender, hv►nre�er not more than once a year, Trustor shali furnish
<br /> to Lender a repvrt on each existing pa�icy ❑� insu�-ance showing: �1 y the name o# the insurer; (2� the risl�s
<br /> insured; 43} the am�unt o� �he pa�icy; {4} the pro�erty insured, the #hen current repiacemen# �alue af such
<br /> proper�y, and �he manner of defiermining�hat�alue; and �5} the expiration da�e a�the pvlicy. Trus�or shaf�, upon
<br /> request o�Lender, ha�e an independenfi appraiser satis�factory#a Lender determEne�he cash�a1ue rep�acement cosfi
<br /> vf the Property.
<br /> LENDER'S E�PEIVDITURES. �f any ac�ivn vr p�-a�eeding is commenced tha�woufd materially a��ect Lender's in�erest in
<br /> the Proper�y or if Trustor�Fails ta �vmp�y with any pro�ision o�thEs �eed o�Trus� or any Related �ncuments, including
<br /> bu� nv� limified fio Trustor's failure to comp�y with any obligation�o maintain Existing Endeb�edness in good s�anding as
<br /> required below, o�-tv discharge��pay when due any amvun�s Trus�v�is required#o discharge❑r pay under this Deed��
<br /> Trus� or any ReIated Documents, Lender on Trus�tar's beha�� may �but shali not be o�ligated t�y tak� any activn �hat
<br /> L�nder deems appropriate, �ncluding bu# not Iimited fio dEscharging �r pay�ng all �axes, �iens, security in�eres�s,
<br /> sncumbrances and ather claims, a� any �ime I��ied vr pia�ed an the Property and paying aif costs #o� �nsuring,
<br /> maintaining and prese��ing �he Property. All such expenditures Encurred or paid by Lender for su�h purposes wi�i then
<br /> bear interest at ths �a�e charged under the Note from �he date incurred ar paid by Lender to the date �� repayment by
<br /> Trustv�. A�i such expenses will become a par� af the lndehtedness and, at Lender's �ptian, wiil {Ay be payable �n
<br /> demand; �By be added ta the ha�ance of the Nvte and be apportioned among and be payable wi�h any instailment
<br /> . payments to became due during either �1� the �erm of any applicable insuran�e policy; ❑r ��y �he remaining term of
<br /> the Note; ❑r �C} he treated as a balloan payment which will be due and payable a��he No�e's ma�u�-i�y. The ❑eed af
<br /> Trust alsv will secure payment o� these amoun�s. Such right shal� be in additivn �o aIl o�her rights and remedies tv
<br /> which Lender may be entitled upon T3efauit.
<br /> WARRANTY; DEFENSE�F TITLE. The�ollowing provisivns relating to awnership of�he Property are a part❑�this Deed
<br /> of Trus�:
<br /> Title. Trustor warrants that: {a} Trustvr holds gvad and marketabie titEe o� �ecord tv �he Property in fee s�mp��.
<br /> �ree and c�ear o� al� iiens and encumbrances o�her than thase se� �orth in the•Real Praperty descr�pfiion ar in �he
<br /> Existing �ndebtedness s�ctton below or in any tit�e insurance po�icy, tEt�e repart. or�inai titEe op�nion issued En�a�vr
<br /> of, and accep�ed by, Lender in cvnnection wi�h this Deed ❑�Trust, and {by Trustor has the �uil righ�, power, and
<br /> authority to execute and de�iver�his Deed o�Trust ta Lender.
<br /> Defense of TitIe. 5ubject fia the exceptian in �he paragraph abo�e, Trus�or warran�s and wi[� �vr��er defend the
<br /> tit�e tv�he Proper�y agaEnst�he �aw�ui claims of afl persvns. jn�he even� any action or proceedEng is commenced
<br /> that questions Trustvr's #it�e nr the interest v�Trustee vr Lender under�his aeed of Trust. Trustor shall defend the
<br /> actian at Trus�vr's expense. Trustvr may be the n�minai party in such proceeding, but Lender shall be en�i��ed to
<br /> par�icipate in the p�-oc�eding and �o be represen�ed in the praceeding by c�unse� �� Lender's own choice, and
<br /> Trus�or will deliver, or cause to be deii�ered, ta Lender such ins�ruments as Lender may request fr�m�ime to time
<br /> ��permit such part�cipa�ion.
<br /> Compliance V��th Laws. Trus�or war�ants that �he Property and Trus#or's use o� the Proper�y comp�ies with all
<br /> ex�s�ing appiicab�e laws, ordinances, and regulatians ❑�gv�ernmental authvrities.
<br /> Sur�iWal of Representations and Vtilarranties. A1l representations, warranties, and agreements made hy Trustar in
<br /> �his Deed of Trust shail survi�e the executivn and de�ivery of this Deed of Trust, shall be continuing in nature, and
<br /> shall rema�n in fui�force and effec�un�i!such�time as T�-ustor's indebtedness shai� be paid in�ull.
<br /> E7��ST�NG [NDEBTEDNESS. The�v�lowing pr��isions concerning ExisfiEng Indebfiedness are a part of this Deed of Trus�:
<br /> Exis#ing Lien. The li�n a�F this C�eed of Trus# securing the Fndeb�edness may be secandary and inferiar tc� an
<br /> �xisting I��n. Trustor expressly co�enants and agrees to pay, or s�e ta �h� payment of, �he Existing Indeb�edness
<br /> and�❑ pre�ent any defauit on such indebtedness, any defau�t under�he ins�rumen�s e�idenc�ng su�h indebtedness,
<br /> vr any de�ault under any secur�ty documen�s fnr such indeb�edness.
<br /> Na Modification. Trustvr sha�l not enter into any agreement w��h the holder of any martgage, deed a� trus�, or
<br /> other security a�reem�nt which has prior�ty a�er this De�d af Trust by which that agreemen� is mvdified,
<br /> amended, extended, vr renewed wi�th�ut the prior written consent o� Lender. Trustor shall neither reques� nor
<br /> accept any�Future ad�ances under any such se�ur�ty agreement wi�hout the privr written consent of Lender.
<br /> C�NDEMNATI�N. Th�fvllowing pr��isions reEating to candemnation proceedings are a parfi o�this Deed af Trust:
<br /> Pra�eedings. If any proceeding in condemnativn is filed, T�usto� shai� prampt�y nvfii�Fy Lender in �rvriting. and
<br /> Trus��r shall prvmpt�y take such steps as may be necessa�y �v defend the ac�ion and obtaEn the award. Trus#or
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