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2� 1 ��2151
<br /> r�EE� �F -r�u�-r
<br /> ���11til�u�d} Page 3
<br /> privr liens on the praperty securing the [van, up fio �he maximum policy limits set under the Nati�nal F�v�d
<br /> Insurance Program,or as atherwise required by Lender,and tv main�ain such insur-an�e�or the term of the loan.
<br /> Appl«ativn of Praceeds. Trus�or shall pr�mptly notify Lender❑�any[oss❑r damage to�he Property. Lender may
<br /> make prvo�o� Coss if Trustor �ai[s �o da s� within fi�teen {'15} days o� the casuafty. V1lheth�r or n�t Lender's
<br /> se�ur��y is impaired, Lender may, a�Lender's election, re�ei�e and retain the praceeds flf any 3nsurance and apply
<br /> the proceeds to the reduc�ion v�the lndebt�dness, paymenf of any�ien a�ff�c�ing the Property, or�he res�ora�ion
<br /> and repair of the Prop�rty. if Lender elecfs�o apply fhe proceeds to res�ora�ion and repair, Trusfor sha[I repair or
<br /> rep�ace the damaged or des�royed Improvements in a manner satisfa�'�ary to Lender. L�nder sha[I, upon
<br /> satisfactory p�v�f vf su�h expendi�ure, pay ❑r r�imburse Trusfior frvm the proceeds fvr the reasanable cast vf
<br /> repair or res�oration i� Trustor is nof in default under�his Deed vf Trus�. Any prviceeds whiGh ha�e not k�een
<br /> disbursed w��hin '18n days a�ter their receipt and which Lender has not c�mmifited tv the repair vr res�orati�n of
<br /> �he Prope�y shaf[ be used first fo pay any amvunt owing fo Lender under this Deed of Trust,then tv pay accrued
<br /> in�erest, and the remainder, if any, shall be applied tv the principaf ba[an�e of the lndeb#edness. If Lender holds
<br /> any proceeds af�er payment in fiull af the lndebtedness, such prviceeds sha[f b� paid tv Trustvr as Trus�or's
<br /> interests may appear.
<br /> Trustor's Repvrt vn Insurance. Upan request of Lender, howe�er nvt more than an�e a year,Trustor sha[[fumish
<br /> tv Lende� a repart vn each exisfing pvlicy of insurance showing: �'�� fhe name of�he insur�r; �2} the risks
<br /> insured; �3} the amaunt of the po�icy; �4) the praper[y insured, the then current replacement �alue v�F such
<br /> prop�rty, and the manner of determining that�alue;and �5} the expira�ion date of the poli�y. Trus�vr sha[1, upvn
<br /> request of Lender, ha�e an independent app�-aiser satisfactory to Lender determine�he cash value replacement cvst
<br /> o�the Property,
<br /> LENOER'S ExPENDfTURES. If any actian or proceed�ng is cvmmenced tha�waufc� material�y affe�t Lender's interest in
<br /> the Prvperky or if Trusfar fails�o compfy with any pro�ision of this Deed of Trus�or any Related flocuments, including
<br /> but na� [imited�o Trustor's faifure fo discharge vr pay when due any amoun�s T�-us�vr is required to discharge o�-pay
<br /> under this Deed of Trusf or any Relafed Dvcuments, Lender on Trustar's beha�f may�but shall nvt be vbliga�ed to}�ake
<br /> any action that Lender deems apprvpriate, including but not [imi�ed fo dEscharging ar paying a1l taxes, [iens, securi�y
<br /> interes�s, encumbrances and other claims,a�any�Eme le�ied ar p[aced on the Property and paying all costs for fnsur�ng,
<br /> maintaining and presenring�he Property. All such expendi�ures incurred or paid by Lender for such pur�aoses will �hen
<br /> bear interest at�he rate charged under the Nate fram the date incurred or paid by Lender to the da�e of repayment by
<br /> T�ustor. A[I such expenses will beovme a part of the lndebtedness and, af Lender's op�ion, wi[I {A} be payahle on
<br /> demand; �B} be added ta the balance o��he No�e and be appvr�ivned amang and be payable wi�th any installm�nt
<br /> paym�nts to beoome due during either �1} the�erm of any applica�fe insurance pa[icy; or �2} the remaining term af
<br /> the Note; o�- �G} be treated as a ba�loan paymen�v+rhich wil! be due and payabie at�he Note's maturity. The Deed v�
<br /> Trust also wi[1 secure payment of these amounts. Such right sha11 be in additivn to al� other ri�hts and remedies tv
<br /> which Lender may be en�ififed upon De�aul�.
<br /> WARRANTY; DEFENSE�F T1TLE. The following proWisions relating to awner�ship of the Praperty are a pa�t o�th�s ❑eed
<br /> ❑f Trust:
<br /> Ti�le. Trustvr rrvarranfs that: �a}Trustor ho[ds govd and marketable fifi[e o�record to the Property in fee simple,
<br /> free and clear�fi alE liens and en�umbrances other�han those se�farth in the Real Proper�y description or in any
<br /> ti�le insuranc� po�i�y, tit[e repar�, vr final title opinion issued in favor of, and accepted by, Lender in connec�ivn
<br /> wi�h this Deed of Trust,and 4b}Trusfar has�he full right, pvwer, and au�hari�ty tv ex�cute and deiiver this D�ed of
<br /> Trust tv Lender.
<br /> Defense af Tit[e. Subj�ct t❑ the ex�epfion in the parag�-aph abv�s, Trustvr warran�s and wifl fvre�er defend the
<br /> t�t�e �o the Property against the lawful cfaims o�all psrs�ns. �n the event any acti�n ar proce�ding is cammenced
<br /> �hat questians Trustar's title ar the interest vf Trustea a�Lend�r under this Deed��F Trust,Trustar shall defend the
<br /> a�tion at Trustor's �xpense. Trustor may he�he nominal party in such proceeding, bu� L�nder shall be entitled �o
<br /> par�icipate in the pra�eeding and fa be represent�d in the p�-aceed�ng by caunse[ �f Lender's ❑wn �hoice, and
<br /> Trusfor will deli�er, or cause to be de[i�ered,�a Lende�such instrumen�s as Lender may reques�from time tv time
<br /> to permit such par�i�ipatian.
<br /> Cvmpiian�e Wi�h Laws. Trus�ar wa�-ran#s �ha� �he Praperty and Trustar's use o�the Property complies wi�h al1
<br /> existing applicable laws, ❑rdinan�es,and regulativns vf ga�ernmental autharities.
<br /> 5ur���a� a�Representativns and V�arranties. A[[ represen�ations, warran�ies, and agreements made by Trustor in
<br /> this Deed of Trusfi shall survi�e�he executfon and deli�ery of this Deed Qf Trusts shal� be canfiinuing in nafiure, and
<br /> shal I remai n in fu I1�v�ce and e�fiect u n�i i such ti me as Trustor's f ndebtedness shall be pa�d i n fu I�.
<br /> G�NDEMN�OT[�N� The fall�wing pro�isions refating to condemnatian proceedings are a part o�this ❑e�d o�Trus�:
<br /> Proc�edings. If any pnaceeding in oandemnafian is filed, Tru�tar shal[ prampt[y nvtify L�nder in writing, and
<br /> Trust�r sha11 promptly take such steps as may be necessary to defend the acfion and vbtain the award. Trus�or
<br /> may be the nominal party in such prviceeding, but Lender sha[�he entitled ta participate in the prnceeding and�a be
<br /> represen�ed in the proceedi ng by counse� of its own choice, and Trustor wi 1[ de�i�er or cause�o be del i�ered�a
<br /> Lender such instrumenfs and do�umentat�on as may be requesfed by Lender from time to time to permit such
<br /> participation.
<br /> Application of Net Prviceeds. If a[1 vr any part af the Praperiy is�ondemned by eminent domain proc�edings or by
<br /> any prviceeding vr purcha$�in�ieu af candemnation,Lender rnay at ifs electiQn r�uire fihat a[1�r any p�rtion vf the
<br /> net praceeds af�hs awa�rd be app��ed�o the indebtedness nr the repair or restaration of�he Property. The net
<br /> pr�ceeds of the award shall mean the award after payment af all reasonable�osts, expenses, and attorneys'�ees
<br /> incurred by Trustee�r Lender in connecti�n with the candemnation.
<br /> �MP�S1T[�IV aF TAXES, FEIES AND CHARGES Blf G�VERN�UIENTAL AUTHDRiTIES. The follvwing pro�isions re[ating
<br /> ta go�ernmenta[taxes,f�es and charges are a part o�this Qe�d af Trust:
<br /> Curren�Taxes, Fees and Charges. Llpan request by Lender, Trustor shall execu�e such doCuments in additian to
<br /> this Deed of Trust and take whate�er afiher actian is requested by L�nder ta perf�ct and continue Lender's lien on
<br /> �he Real Prop�rty. Trus�or shal[ reimburs� Lend�r�for all taxes, as described be[ow, fogether wi�h al! expenses
<br /> inGurred in recording, perFe��ing ar �ontinuing this Deed of Trust, in��uding withaut limita�ion al[ faxes, �Fees,
<br /> docum�ntary stamps,and ather charges for recording or regis�ering this De�d❑f Trust.
<br /> Taxes. The fa��owing shall constitu#e #axes #a which �his sec�ivn applies: �'!} a speci�ic tax upvn th�s type of
<br /> ❑eed of Trus��r upon afl o�any part o�F the lnd�btedness secured by this ❑eed o�Trust; (�} a specific �ax on
<br /> Trustor which Trus�or is authari�ed❑r required to deduct from payments on�he Indehtedness secured by this type
<br /> ��Deed of Trus�; �3} a�ax on�his type of Deed❑f Trus�chargeabie against the Lender or the holder of the Nate;
<br /> and t4} a speci�Fic tax on al1 or any pnrfion of th� lndebtedness❑r on payments of principa! and interest made by
<br /> Trustvr.
<br /> Subs�quen� Taxes. I� any tax to which this section appfies is enacted subsequent ta the date vf this Deed af
<br /> Trust, this e�en� 'shal! ha�e�he same e�fec'� as an E�en� vf aefault, and Lender may exercise any or al� of its
<br /> a�ai�able remedies fvr an E�en� of Defaulf as pro�ided below unless Trustor either �1} pays the tax before i�
<br /> becomes delinquent,or �2} cantesfs the tax as pro�ided abo�e�n the Taxes and Liens section and depasits with
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