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2� 1 ��25�4
<br /> []EE� �F TRUST
<br /> �
<br /> Loan No: '[D'I�95�95 ��ont��lu� Page 4
<br /> the adminis�rator o�the Federal Emergency Management Agen�y as a special flood ha�ard area, Trust�r agrees�o
<br /> ob�ain and maintain Federal Fload lnsurance, if availab[e, within 45 days aft�r no�ice is given �y Lender �hat the
<br /> Property is Ioca�ed in a sp�cial flaod hazard area, for the full unpaid prin�ipal balance o�fihe loan and any priar liens
<br /> on th�property s�curing the loan, up to the maximum policy limits set under fihe Natianal Fiood Insurance Pragram,
<br /> or as o�herwise required by L�nder, and�o maintain such insuran�e far�h�term o�F the loan.
<br /> Appl�cation o# Proc�ecls. Trus�or shall promptly nvti�y Lender af any Ioss or damage to �he Praperty. Lender may
<br /> make pra��F of lass i� Trus�or fails tv dv so w�thin �iffi��n �15f days o�F the casualty. VIlhether ar not Lend�r's
<br /> security is impaired, Lender may, at L�nder's election, r�ceiWe and retain the pro�eeds of any insuran�e and apply
<br /> the prQceeds to the r�ducti�n of the Indel�tedness, paym�nt of any lien affiecting th� Proper�y, vr the restoration
<br /> and repair o�F the Property. �f L�nder elects ta apply the proceeds to res�oration and repair, Trustor shail repair or
<br /> replace the damaged or destrvyed Improvements in a manner satis�Factary t� Lender. Lender shall, upon
<br /> satis�actvey proof of such expenditur�, pay or reiml�urse Trus�or from th� pr�ceeds for ths reasanab�e cvs� vf
<br /> repair or restoration if Trustor is nvfi in default uncler this Deed of Trust. Any p�'aceeds which have nvt b��n
<br /> disbursed within 180 days affier their receipt and which Lender has n�t c�mmi�fied �o the repair ar restoratian ot
<br /> the P�-vpert}� sha11 be used -�irst�o pay any amaunt owing to Lend�r under this Deed a�Trust, then to pay ac�ru�d
<br /> interesfi, and the r�mainder, if any, shall be applied to the principal balan�e af the Indebtedness. If Lender halds
<br /> any prace�ds after payment in �ull of the �ndebtedness, such proceeds sha�l he paid ta Trustor as Trustar's
<br /> interests may appear.
<br /> Complzance w�th Exis�ing indebtedn�ss. During �he per�od in which any Exis�ing lndebtedness described belaw is
<br /> in e�fect, campiiance with the insurance provisions cvntained in the instrument eviden�in� such Existing
<br /> Indeb�edness shall cvnst�tute compliance with the insuranc� provisions under this Qeed of Trust, fo the ex�ent
<br /> complian�� with �he �erms af this �eed af Trust would cons�ritute a dup�ication af insurance requirernent. If any
<br /> proc�eds frvm the insuran�e become payab�� �n loss, the pro�isi�ns in thEs Deed a�Trust �far division of proceeds
<br /> sha�l apply only to that por�rian of ths proceeds nvt payable t�the halder af the Existing Indebtedness.
<br /> Trustvr's Report on lnsurance. Up�n request of Lender, however not mor� �han �n�e a year, Trustor shail �Furn�sh
<br /> to Lender a rep��t on each existing policy of insurance showing: ��y the nam� of the insurer; �Z} the r�sks
<br /> insured; {3} #h� amount of the paficy; {4� �khe p�opert}r insur�d, the �th�n current replacement �alue �� such
<br /> property, and the manner�f det�rmining that�alue; and �5y the expi�a�ion da�e of the policy. Trustor shall, upon
<br /> request o�Lender, ha��an ind�p�nd�nt apprais�r sa�isfac�ory t� Lender de�ermine the cash value replacem�nt cos�
<br /> af the Prop�rty.
<br /> LENDER'S EXPENQITURES. I�any activn ar proceeding is commsnced that would ma�erially affect Lender's interest in
<br /> the Property or if Trus�or faiis �v �omply wi�h any pr��isian of this Deed vf Trust or any Related Documents. including
<br /> but not limi�ed t� Trustar's failure �v comply with any ohligation to maintain Existing �ndebtedness in good standing as
<br /> required below, or�v discharg�or pay when due any amaunts Trustor is requir�d�� discharge or pay under this Deed of
<br /> Trust or any R�la�ed Documents, Lender on Trus�vr's beha�� may {but shal� not be ❑bligated to� take any activn �hat
<br /> Lender deems appropriat�, including but not limited to discharging �r paying a�l #axes, liens, se�urity interests,
<br /> encumbranc�s and o�her ciaims, at any �ime le�ied ar plac�d on the Property and paying al� c�sts for insurin�,
<br /> main�aining and preser�ing the Pr�p�rty. A�I such expenditures incurred or paid by Lender for such purposes w�ll then
<br /> bear inter�s� at the rate charged und�r th� Nate fr�m the date incurred ar paid by L�nder tv the date o� repayment by
<br /> Trustor. All such expenses wili become a par� �f the Ind�btedness and, at Lender's op�ion, will {Ay b� payable an
<br /> demand; {B} be add�d to the balance of the N�te and be apportioned amang and be payal�l� with any insta�Em�nt
<br /> payments to became due during either {�} the term of any applicab�e insurance pa�icy; vr ��y �he remaining t�rm af
<br /> the Note; or {�y be treated as a ball�on payment vuhich v�rill b� due and payable at the IVote's ma�urity. The i�eed of
<br /> Trus� alsv wili secur� payment �f �hese amounts. 5u�h right shall be �n addition to all �ther rights and remed�es to
<br /> which Len�er may be enti�rled upon D�fau��.
<br /> WARRANTY: DEFENSE�F TITLE. The f�llowing pro�isians relating to �wnership of�he Property are a part�f this Deed
<br /> o�Trust:
<br /> T�tle. Trust�r warrants tha�: {a} Trust�r holds good and marketa�le ti�le ❑f record to the Proper�y in fee simp�e,
<br /> free and clear of all liens and encumbran��s ��her �han thoss set f�rth in the Real Proper�y d�scr�ptian or in the
<br /> Exis�ing lndebtedness sect��n b�low or in any title insurance po�icy, title repar�, ar final title opinian issued in fa�or
<br /> �f, and accept�d by, Lender in connecfiion with this aeed at Trus�t, and {b� Trus�or has the �full right, p�wer, and
<br /> authority ta execute and deii�er this Deed ��Trust to Lender.
<br /> ❑e�ense of Title. Subject to the exception in �he paragraph aba�e, Trus�kor warrants and wili fore�er def�nd the
<br /> title to �he Proper�y against th� la�rvfuf c�aims of all persons. In �he e�ent any action or praceeding is �ammenced
<br /> tha�questions Trust�r's ti�1e ar the interest of Trus�ee or Lender under this Deed of Trust, Trus��r shaEl de�Fend the
<br /> action at Trus�ar's expense. Trus�or may be the nom�nal par�y in such proceeding, �ut Lender shall be entitied�to
<br /> participa�e in �h� proce�ding and �o �e r�presented �n �he prv�eeding by couns�l vf Lender's awn ch�ice, and
<br /> Trustor will d�iEver. or cause tv be deliWered, to L�nder such ins�ruments as Lender may r�quest#rom time ta �ime
<br /> to p�rmit such par�icipation.
<br /> Campliance Vlli�h Laws. Trus�ar warran�s that the Proper�y and Trustor's use o� the Praperty �omp[ies with a�l
<br /> �xisting applicable laws, ordinances, and regu�a�ions a�governmental authorities.
<br /> 5urvi►�al o� R�presen�ations and Vllarran�ies. All representations, warran�ies, and agreements made �y Trustor �n
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