|
� 2� 1 ��2119
<br /> aEED �F TRU�T
<br /> Loan No: 8����834 �Continued} Rage 3
<br /> Maintenance vf Insurance. Trustor shatl pracure an� maintain palicies of fire insuran�e with standard extend�d
<br /> ca�erage endvrsements on a replacement basis for the fu11 insu�able value covering all Improvements on the Rea�
<br /> Property in an amount su�ficient to a�vid application of any coinsurance cfause, and with a standard martgagee
<br /> clause in fa��r��Lender. Trustvr shall also prpcure and maintain comprehensive genera!liabil�ty insu�ance in such
<br /> coverage amaunts as L�ender may requ�st with Trus#e� and Lender being named as additional insureds in such
<br /> liability .insurance policies. Additionally, Trustor shail maintain such other insurance, including but nc�t limited tv
<br /> hazard, businsss interruption, and boiler insurance, as Lender may reasonably require. Palicies shall be writt�n in
<br /> form, amounts, coverages and basis reasona�ly accep#able to Lender and issued by a campany vr compani�s
<br /> reasonably acceptable to Lender. Trustor, upon t�equest of Lender, will deli�er t❑ Lender from time #o time the
<br /> paficies vr certificates of insurance in form satisfactary to Lender, including stipulations that cfl�erages will nvt be
<br /> can�efled or diminished wi#haut at Isast ten �'1�} da�s prior�w�itten no#+ce #o Lend�r. Each insurance pvlicy also
<br /> shal�include an endarsement pro�iding#hat cove�age in favar vf L�nder will nat be impaired in any way by any act,
<br /> omission ar default of Trustar ar any ather person. Shvuld the Real Property be located in an area designated by
<br /> the Administra#ar of the Federai Emergeney Managemen#Agency as a specia!fioad hazard area, Trustor agrees to
<br /> obtain and maintain Federa! Ffva� Insurance, if a�aElable, for the full unpaid principal balance of the loan and any
<br /> prior liens on the property securing the laan, up to the maximum paEicy limi#s set under #he Natianal Fload
<br /> lnsurance Prvgram,or as otherwise required hy Lende�,and t❑maintain such insurance far the term af the loan.
<br /> Applicativn vf Proceeds. Trustor shall prampt�y notify Lender af any foss or damage #v the Property. Lender may
<br /> make proof of loss if Trustor fails �a do so within ffteen �15} days of the casualty. Whether or not Lender's
<br /> security is impaired, Lender may, at Lender's electian, r�cei�e and reta�n the procesds❑f any insurance and apply
<br /> the proceeds to the reduction vf the Indebtedness, payment vf any lien aifecting #he Property, or the resto�ativn
<br /> and repair af the Property. if Lender elects tn app�y the proc�eds ta restora#ion and repair, Trustor shall repai�or
<br /> repiace the damaged vr destroyed Impravements in a manner satisfactory t� Lender. Lender shall, upon
<br /> satisfactory prvaf nf such expenditure, pay ❑r reimburse Trustvr fram the proceeds fvr the reasonable cost o�
<br /> repair ar restarat�on i� Trustar is not in defaui# under this ❑eed vf Trust. Any pra�eeds which have nat be�n
<br /> disbursed within 1$Q days after their receipt and which L�nder has not cammitted #o the repair�r res#vration af
<br /> the Prvperty shall �e used first#v pay any amount owing ta Lender under this Deed of Trus#, then to pay ac�rued
<br /> interest, and the remainder, if any, sha11 tie applied to the principa� balance af the fndebtedness. �f Lender holds
<br /> any proceeds after payment in full of the Indehtedness, such proceeds shakl be pa�d #o Trustqr as Trustvr's
<br /> interests may appear.
<br /> Trustor's Repart on Insurance. Upon request of Lender, howe�er not mare than once a year, Trustor shall furnish
<br /> �v Lender a report �n each existing policy of insurance showing: {1} #he name vf the insurer; �2} the risks
<br /> insured; (3} the amoun# of the policy; �4} the praperty insured, the then current replacement value af such
<br /> property, and the manner vf determining that value; and �5} the expiratian date of the pol�cy. Trustor shall, upc�n
<br /> request❑f Lender, have an independent appraise�satisfactory to Lender determine the cash�alue replacement cost
<br /> of the Property.
<br /> LENDER'S EXPENOfTURES. ff any action or proceeding is commence�that would materially affec#Lender's in#erest in
<br /> the P�-vperty or if Trustor fai�s to �omply with any pro�isian v�this Deed of Trust or any Related Do�uments, including
<br /> but not limit�d to Trustor's failure to discharge or pay when du� any amaunts Trustor is �equired to discharge or pay
<br /> under#his ❑eed o�Trust or any Rekated Documents, Lender on Trusto�'s �ehalf may�but shafl not be obligated to}#ake
<br /> any a�tion that Lender deems apprapriate, in�luding but nat limited to discharging or paying all taxes, liens, security
<br /> interests, encumbrances and other claims,at any time levied or placed on the Property and paying ali costs far insuring,
<br /> maintaining and preserving th� Property. A!I such expenditur�s incurred ❑r paid by Lender for such purpases w�ll then
<br /> bear interest at the rate charged under the Note from the da�e in�urred or paid by Lender to the date of repayment�y
<br /> Trustor. Ail such expenses will become a part a�the Indebtedness and, at Lender's option, w�ll �A} be payable on
<br /> demand; �B} he added to th� balance of the Note and be appvrtioned amang and be paya�le with any instailment
<br /> payments to be�ome due during either �1} the term of any applicahle insurance po�i�y; or �2} the remaining term af
<br /> the Note; or �C} be treated as a hailavn payment which wil� be due and payab�e at the Note's maturity. The [�eed of
<br /> Trust also will se�ure payment of these amounts. Such right shall be in addition �v all.vther rights an� remedies to
<br /> which Lender may he entitled upon Default.
<br /> V1rARRANTY; DEFENSE�F TITLE. The fallowing prv�isions re�ating to awnership of the Property are a part af this�]eed
<br /> af Trust:
<br /> Title. Trustor warrants that: (a}Trustar holds gvod and marketable titie of recard t❑ the Property in f�e simple,
<br /> fr�e and ciear of al� liens and encumbrances ❑ther than those set forth in the Real Property description or in any
<br /> #itle insurance p�l�cy, title report, or final #itle opinivn issued in #a�or of, and accepted by, Lender in cann�ct��n
<br /> with this Deed at Trust,and 4b}Trustor has the ful�right, power, and authvrity to executs and deliuer this ❑esd of
<br /> Trust to Lender. �
<br /> �efense of Title. Subject t❑ the exceptian in #he paragraph abo�e, Trustor warrants and wii! fore�er defend the
<br /> title#o the Praperty against the lawful claims vf all persons. In the��ent any actiQn or proceeding is cammenced
<br /> that questivns Trustor's title or the interest of Trustee or Lender under this Deed of Trust,Trustor shall defend the
<br /> action at Trustar's expense. Trustor may be the naminal party in such praceeding, but Lender shall be entitled to
<br /> pa�ticipa#e in the proceeding and t� he represented in the proceeding by counsel �f Lender's awn choice, and
<br /> Trustor will deli�er, or cause ta be deli�ered,to Lender such instruments as Lender may request from t€ms#o time
<br /> to permit such par�i�ipation.
<br /> Compliance With Laws. Trustar warrants that the Prvperty and Trustar's use of the Property camplies with all
<br /> ex�sting applicabi�laws, ordinances,and reguiations vf�o�ernmental author�ties.
<br /> Survi�al of Representativns and Warranties. All representat�ons, warranties, and agreements made by Trustar in
<br /> this �eed vf Trust shalC surv�ve the exe�utivn and deli�ery of th+s De�d of Trust, shall be cantinuing in nature, and
<br /> shall remain in fuil fvrce and effect until such time as Bvrrower's Indebtedness shafl he paid in full.
<br /> �QNDEMNATfQN. The foilowing pro�isions re�ating to condemnation proceedings are a part af this Deed af Trus#:
<br /> Prac�edings. if any proceeding in candemnatian is filed, Trustor shall promptly notify Lende� in writing, and
<br /> Trus#or sha�l prnmpt[y take such steps as may be nec�ssary to defsnd the action and ob#ain the award. Trustor
<br /> may be the nominal par#y in such praceeding, but Lender shail be entitled to par�icipat� in the prviceeding and to be
<br /> represented in the proceeding by counsel af its own choi�e, and Trustar will deli�er or cause t❑ be deli�ered to
<br /> Lender such instruments and documentation as may be requested by Lender from time to time to permit such
<br /> participation. �
<br /> Application of Me#Proceeds. I�afl or any part af the Property is condemned by eminen#dvmain prviceedings or by
<br /> any pro�eeding or purchase in lieu vf candemnation, Lender may at its�fec#ion require that all or any par�ion a�the
<br /> ne� proceeds af�he award be applied to the Indehtedness or the repair or restvrativn of the Property. The net
<br /> proceeds of the award shall mean the award after payment of all reasonable costs, expenses, and attvrneys'fees
<br /> incurred by Trustee❑r Lender in�onnection wi#h the candemnation.
<br /> IMP�51Tl�N pF TAXES, FEES ANO CHARGES 6Y G�YERNMENTAL AUTHDRITIES. The �allowing pro�isions relating
<br /> to go�ernmental taxes,fees and charges are a part of this Deed of Trust:
<br /> Current Taxes, Fees and Charges. LJpon request by Lender, Trus#or shalf execute such documents in addition to
<br />
|