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2� 1 ��2184
<br /> DEED C�F T!�lJST
<br /> �C��ti�u�d} Page 3
<br /> reasonably acceptable �o Lender. Trustor, upon reques# af Lend�r, wil� deli�er t� Lender from time to ��me the
<br /> poiicies or cer�ificates vf insurance in form satis�Fac�ory�❑ Lender, including s�ipu�ati�ns that co�erages Srvili not be
<br /> canc�l�ed or diminished wi�hout at leas�thir�y ��0} days p�ivr wriften n�tice ta Lender. Each�nsurance pali�y also
<br /> shali include an endarsement praviding�ha� �o�erage in�rar�nr of Lender will nat�e impaired in any way �y any ac#,
<br /> omission or de�ault❑f Trustor vr any o�her persvn. Shauld�he �eal Prvperfy be Iocated in an area designa#e� by
<br /> �he Adm�nist�a�or of the Federal Emergency Management Agency as a spe�ial flvod hazard area, Trustor agrees to
<br /> obtain and maintain F�d�ral Flaad lnsurance, if a�ai�ab[e, �or the full unpaid principal balan�e af�h� 1Qan and ar�y
<br /> prior liens on the praperty securing the loan, up tv the max�mum policy lim�ts set under the Nationa� Fl�od
<br /> �nsuran�e Program,�r as otherwise requir�d by Lender, and to maintain su�h insurance�ar�he term❑f the foan.
<br /> Application of Pr4ceeds. Trus��r sha�� prompt�y nati�Lender of any�oss o�damage to fhe P�op�rly. Lender may
<br /> make p��of v� �oss if Trusta� fails to do so within fift�en �'15�} days n��he casual�y. Whe�her vr not Lender's
<br /> security is impaired, Lend�r may, a�Len�ler's ele�tion, reGei�e and retain the proceeds ofi any �nsurance and apply
<br /> the pr�ceeds to the reduction a�the �ndebtednes�, payment a�any lien af�ec�ing the Prvperty, or the restaration
<br /> and repair of the Proper�y. ft Lender��ec�s ta app�y the proceeds t� restaration and repair, T�-ustar shall repair or
<br /> repia�e �he damag�d or destroyed lmpravements in a manner satis�actary ta Lender. Lender shall, upvn
<br /> satisfactory proof af such e�penditure, p�y �r reimburse Trus�ar fram �he proceeds for the �easonab�e cos� ❑f
<br /> repair �r res�o�-a�ivn �� Trus�or ss nat in de�aul� under thtis �eed v� �Trust. Any �rnceeds which have nvt been
<br /> disbursed within '18Q days affer their receipt and wht�h Lender has nat committed tv the repai�ar restoration v�
<br /> the Property shal) be used first to pay any amvun�aw�ng �a Lender under�his �eed a�Trus�,then�a pay accrued
<br /> intere��, and�he remainder, if any, shall be appiied to the prin�ipal balance of the Indeb�edness. I� Lender ha�ds
<br /> any proceeds a�ker payment in full vf �he Indebtedness, such pr�ceeds shall be paid to Trustor as Trustor's
<br /> inte�'�s�s may appear.
<br /> Trustvr's Report on Insurance. Upon reauest af Lender, how�ve�no� m�re than once a year, T�ustor shall furnish
<br /> to Lender a repor� on eaGh existing policy of �nsurance showing: �1} the name vf the insurer; (�} the risks
<br /> insured; �3} the amaun� of the policy; �4} the property insured, the �hen curr�nt replacement va�ue af such
<br /> property, and the manner vf det�rmining that�alue; and �5} th� exp�ratiQn da�e❑�the pvlicy. Trustar shafl, upon
<br /> request o�Lender, ha�e an independent appraiser satisfactary�a Lender determine�he cash value repla�ement�os�
<br /> af the Prvper�y. -
<br /> LENDER'S E�PENDiTURES. If any action❑r prnceeding is commenced that wvuld materiafly a�Fec�Lende�s interest�n
<br /> the P�oper�y ar i�Trustar�ails tv campiy with any pra�is�on of this Deed af Trus�or any Related Documen�s, including
<br /> but nvfi limited tv Trustor's failure tv dis�harge ar pay when due any amvunts Trustor is requi�ed to discharge a� pay
<br /> under this Deed of Trus�or any Re�ated Documents, Lender on Trustor's behalf may(but sha1I nat�ae obligated�o}take
<br /> any action that L.end�r de�ms apprapriate, including but nv� limited �o discha�ging ❑r paying al� fiaxes, �iens, security
<br /> inter�sts, encumbrances and vthe�claims,at any time le�ied or placed❑n the Proper�y an�paying al(�osts�or insuring,
<br /> main�aining and preserving the P�-vperty. A�� such expend�tures incurred a�paid by Lender for such purpvses will then
<br /> k�ear fnterest a�the�-ate charged under the Note frvm�he da�e incurred ar paid by Lender tv the date of repayment by
<br /> Trus�or. All such expenses wil� became a par�vf the lnde��edness and, at Lende�'s nption, wiil �A} be payable�n
<br /> demand; �B} be added tv the balanoe a�the Nvte and be appo�k�oned among and be payable wi�h any ins�a�lment
<br /> payments to became due during ei�her �'�} the fierm�f any appiica�le insurance pol�cy; o� ��} the remain�ng��rm��
<br /> the �ivte; or �C} he treated as a balloon paymen�which will be due and payable a��he Not�'s ma�ur�ty. �e�d a�
<br /> Trust also w��l secure paymen� o�these amounfs. Such righ� shall he in addi#ion ta alI ather rights and remedies�o
<br /> wh i ch Lender may be entitl ed upvn De�aul�.
<br /> WARRANT'�";dEFFNSE QF TITLE. The follawing pro�isions relating to ownership o�the Pro�erty a�e a�at�of this Deed
<br /> of Trust:
<br /> Title. Trustor warrants tha�: �a�Trus�ar halds gaod and marketab�e tit�e of re�ord tn the Property in f�e simp�e,
<br /> free an�i cl�a�r o�ail �iens and encumb�an�es flthe�than those s�t fort� �n th� Real Praperty desct�ipt�on ❑r in any
<br /> title insurance pvlicy, title repo�t, �r final title ❑piniot� issue� in fa�or ❑f, and acc�pted by, Lender �n cannec�ian
<br /> with �his Dsed v�Trus�, and tb}Trustvr has the full r-�ght, pvwer, and au#hority ta execute and de�iver this aeed of
<br /> T�ust t� Lender.
<br /> Defens� of Tit�e, 5ubjec#to the exception in the paragraph abQ�e, Trustor warran�s and will �vr�ever de�end the
<br /> fitle to the Property against the lawfufi claims of all persons. In the event any action or proceedin��s commenced
<br /> �hat ques�ions Trustor's titie or�he interest o�Truste�or Lender under this Deed o�T�ust,Trustor sha�1 defend the
<br /> action a�T�ustor's expense. Trusfor may be the nominal parfy in such pro�eeding, but Lender shal� be enfitied ta
<br /> partt�ipa�e in fihe proceeding and t❑ be repr�sen�ed in the proceeding by caunsel �� Lender's awn choice, and
<br /> Trustar w�ll d�li�er, vr cause t� be deli��red,t� Lender such instruments as Lender may reques�from time to time
<br /> to permit such pa�ticipatiQn.
<br /> Compliance VYith Laws, Trustor warrants �hat �he Property and Trustor's use ofi �he Praperty camp��es wi�h ali
<br /> �xisting appli�able laws, ardinances,and regulafiions❑f gavernmenta!authorities.
<br /> Sun�i�al v#Representa�ians and 'VYarran�ies. Ai� representations, warranties, and agreements made by Trustor in
<br /> �his Deed vf Trust shall survi�e fihe exeGution and de�i�er�o�this Deed af Trus�, shall be con�inu�ng in nature, and
<br /> sha!!remain in full farce and e�Ffect until such�im�as Trus#or's Indebtedness shall be paid in fu�l.
<br /> CDNDEMNATIDN. The following provisivns relating to cflndemnativn prviceedings a�e a par�vf�his I]eed of Trus�:
<br /> Prviceedings. l� any proceeding in Gond�mnatic�n is filed, Trus�ar shall pr�mptly natify Lender in writing, and
<br /> Trustor sha�� promp��y take su�h steps as may be neoessary to defend the a�tion and obtain the award. Tru�tar
<br /> may be th�naminal party in such proceeding, but Lender shall be entitled�o part�cipate in the proceeding and�v be
<br /> represented �n the proceeding �y cauns�� of its own chaice, and T�stor wilf deli��r ❑r�ause�o be deli�ered to
<br /> Lender such instruments and documentation as may be requested by Lender from time tv time �a permit such
<br /> participatian.
<br /> Applicafion vf N�t Praceeds. If ail nr any part af#he Praperty is condemned by eminent domain proceedings or by
<br /> any praceeding❑r purchas�in iieu a�oondemnation, Lender ma}�afi its electian require tha�al�or�ny p�rtion af�he
<br /> net prviceeds of the award be appiied to �he lndebtedness or the repa�r or res�c�ra�ion af the Pr�perty. The net
<br /> pro�eeds af the award shall mean the award after payment of alI reasonab�e costs, expenses, and attorneys'fe�s
<br /> incurred b�Trustee or Lender in connection v►r�th�he oondemnation.
<br /> iMP�51Tl�IV �F TAXES, FEES AND CH►�R�ES SY��VERNIVI�NTAL AUTHDRiTIES. The foiiowing prvvisions re�ating
<br /> to go�ernmental taxes,�ees and charges are a part of�his D�ed af 7rust:
<br /> �urrent Taxes, Fees and Gharges, Upon requesfi by L�nder, Trustor shall execu�e such dacuments in addition t❑
<br /> this Deed vf Trus�and take whatever�ther acti�n is requested by L�nder ta perfect and continu� Lender's lien on
<br /> the Real Praperty. Trustor shall reimburs� Lender�or all �axes, as described belaw, together with ail expenses
<br /> incurred in r�ca�ding, perfecting or continuing this Deed ❑� Trust, incfuding without lim��ati�n al� taxes, fees,
<br /> docurnentary stamps,and vther�k�arges fo�r�co�ding ar regis�e�ing this Deed af T�-ust.
<br /> Taxes. The following shall �onstitut� taxes ta which this s�ctiQn applies: 41} a speci�ic tax upon fhis type of
<br /> Deed of Trust or upnn a�l ar any part af#he lnde�tedness secured by this Deed nf Trus�; (2} a speGific tax �n
<br /> Trustor which Trustor is au�horized or r�quired to deduct f�om payments an the �ndebte�n�ss secured by this type
<br /> of Deed of Trust; �3} a tax❑n this type o�Deed�f T�us�chargeable against the Lender ar the holder of the Nate;
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