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2� 1 ��25�5
<br /> I3EEt� �F TF�LJ�T'
<br /> ��v����u�d� �ag� 3
<br /> Prvperfiy in an amount sufficient �� aWoid application af any cvinsurance cfause, and w'tth a sfiandard mortgagee
<br /> clause �n fa�or af Lender, Trustvr shal[ a[sv procure and maintain comprehensiWe g�neral liabili�y insurance in such
<br /> co�erage amvun�s as Lender may request with Trustee and Lender being named as additivnal insureds in such
<br /> liabili�y insurance po�icies. Additivnally, Trustor shall maintain such o#her insuranGe, including bu� nvt limited to
<br /> hazard, business interruptivn, and boiler insurance, as Lender may reasonably requ�re. Pvlicies sha[� be writ�en in
<br /> fvrm, am�unts, cvverages and basis reasonably acceptable tv Lender and issued by a company or companies
<br /> reasonab�y a�ceptab�e t❑ Lender. Trus�or, upon request v�F Lender, wi{1 deli�er �o Lend�r from time tv time the
<br /> palicies ar certi�icates ❑f insurance in �orm satis�actory to Lender, including stipu[a�ivns tha� co��rages will no� be
<br /> cancelled or diminished withvu� at leas� �en ���} days priar wri�ten nafiice tv Lender. Each insuran�e poficy a�sv
<br /> sha11 inc[ude an endors�ment pro�iding tha�cv�erage in #a�or v�Lender will nvt be impaired in any way by any act,
<br /> vmission ar default of Trustor or any o�her persvn. 5hou�d �he Rea( Property be loca�ed in an area designa�ed by
<br /> �h� Administra�ar vfi the Federaf Emergency Management Agency as a specia! ��s�od hazard area, Trusto�- agrees t�
<br /> obtain and maintain Federal F[vvd �nsurance, if a�ai[ab[e, within 45 days after n�ti�e is gi�en by Lender that the
<br /> Pr�perty is Iacafied in a special ff�od haza�-d area, for the full unpa�d principal baiance of#he Zvan and any prior liens
<br /> on the prvperty securing the lvan, up to the maximum poficy fimi�s se# under�he National F[ood Insurance Program,
<br /> vr as otherwise required by Lender, and to main�ain such insurance far the term o�the laan.
<br /> Applic��ivn vf Praceeds. Trust�r shafl pramptly no�ify Lender flf any loss or damage tv �he Proper�y. Lender may
<br /> make proof of Ivss if Trus�vr fails fi� do so within �i��een ��5� days of the casualty. V1lhether vr nat Lend�r's
<br /> securi�y is impaired, Lender may, at Lender's ele�tion, recei�e and retain �he pro��eds 4� any insurance and app�y
<br /> the pro��eds to the reductivn vf the Indebtedness, payment vf any lien a��ecting the Property, vr �he restorativn
<br /> and repair o�fihe Prvperty. lf Lender efects fia apply �he proceeds to res�vrati�n and repair, Trus�vr shall r�pair ar
<br /> rep(ace the damaged ar destrvyed lmpro�emen�s in a manner satisfactory to Lender. Lender shall, upon
<br /> sa#is�actvey prvv� of such expenditure, pay �r reimburse Trustor #rom the proceeds �vr the reasanabl� cvst o-f
<br /> repair or res��ra�ian i� Trustor is not in defaul� under this Deed of Trust. Any praceeds which ha�e nflt been
<br /> disbursed within �8� days after their receipt and which Lender has nat committed �a the repair vr restvra�ivn flf
<br /> the Proper�y shafl h� used firs�t to pay any amoun# vwing �v Lender und�r this Deed of Trust, th�n to pay a�cru�d
<br /> interest, and the remainder, �f any, shall be applied t� �he principa! bafance of the Indebtedness, �f Lender hv�ds
<br /> any pra�eeds after payment in full vf the Indebtedness, such proceeds shall be paid �o Trust�r as Trustar`s
<br /> interests may app�ar.
<br /> Trustor's Repvrt vn [nsuran�e. Upon r�ques�❑f Lender, hflwe�er na� mor� �than ❑nce a ��ar, Trustar sha[[ furnish
<br /> t❑ Lender a report vn each existing policy o� insurance shvwing: {�y the name of #he insurer; ��} �he r'rsks
<br /> insured; {3} the amoun� af �he poliGy; �4} the proper�y insured, the �hen curren� replacemer�t �alue v� such
<br /> prvperty, and �he manner o�determining that�alue; and �5� �he expiratian date vf�he policy. Trustor sha��, upon
<br /> reques�o�F Lender, ha�e an independent appraiser satisfactory�v Lender determine the cash�a�ue �eplacement c�st
<br /> ot th� Praperty.
<br /> LENDER'S E)CPEiVD[TURES. If any ac�ian or proceeding is comm�nced that wauld materially a��ec� Lend�r's interes� in
<br /> the Property �r i�Trustor fails to comply with any pro�fsivn v#this Deed v�Trust or any Re[a�ed ❑vcuments, including
<br /> but not limited to Trus�t�r's failur� tv discha�ge or pay when due any amvun#s Trus�o� is required to discharge or pay
<br /> under�his Deed ofi T�ust vr any Rela�ed ❑vcuments, Lender on Trustar's behalf may {bu�shal[ no� be obliga�ed to� tak�
<br /> any activn that Lender de�ms apprvpriate, in�luding but no� [imited �o discharging vr paying afl taxes, liens, security
<br /> in�erests, encumbrances and oth�r c�aims, at any�ime le�ied❑r placed vn�he Prop�rty and paying all �osts f�r insuring,
<br /> maintaining and preser�ing the Property. All such expendi�ures incurred vr paid by Lender for �uch purpvses will then
<br /> bear interes� at the rate �har�ed under the Note firvm �he da�e incurred �r paid by L�nder ta the date o� repayment by
<br /> Trustar. All such expens�s wi11 become a part of the fndeh�edness and, at Lend�r's optivn, wiil �A} be payahle �n
<br /> demand; {B� be added tv the balance v� the Note and be appvrtivned among and be payable wi�h any in�ta�imen�
<br /> payments �o become due during either ��} �he term of any appli�able insurance p��icy; vr {�� the remaining �erm o�
<br /> the Note; vr 4C} be treated as a ballo�n paymen�which wilf be due and payab[e a��he N�te`s ma�urity. The aeed ��
<br /> Trus�k alsa wi�l se�ure payment ❑� fihese am�unts. Such right shall be in addi�ivn to all ��he� rights and remedies tv
<br /> which Lender may he entitled upvn Defaul�.
<br /> VIIARRANTY; DEFENSE�F T1TLE. The foll�vving pra�isions refa�ing to vwnership vf the Prvperty are a part❑�this Deed
<br /> v�Trust:
<br /> Ti�t[e. Trustor warrants �ha�: 4a� Trustor h�fds gaod and marketable �itle ❑f record �o �he Property in fe� simple,
<br /> fr�e and cfear a� all liens and encumbrances �ther than �hvse set fvrth in the l�ea[ Prvperty descripti�n ❑r in any
<br /> t�tie insurance policy, title report, �r final ti�le opinion issued in fa�vr of, and a�cepted t�y, Lender �n cvnnection
<br /> with this Deed vf Trust, and �b� Trustor has�he full right, pawer, and au�hvr�ty to execute and d��i�er this Deed of
<br /> Trus��� Lender.
<br /> Defense of Tit�e. Suhjec� to the excep�ivn in the paragraph abv�e, Trustor warran�s and will �flre�er defend the
<br /> title to the Praperty againsfi the �aw�ul claims of al[ persons. �n the e�en� any action or prviceed�ng is �vmmenced
<br /> that ques�ions Trusfiar's title or�he in�eres�of Trus�ee or Lender under this aeed of Trus�, Trustvr shall de�end the
<br /> action at Trustor's exp�nse. Trus��r may be the nvminal par�y in such prviceeding, bu� Lend�r sha�� be en�itled �❑
<br /> participate in �he proceeding and #o he represen�ed in the proceeding by cvunse! vf Lender's awn chvice, and
<br /> Trustor wiff deli�er, or cause tv be deli�ered, to Lender such instruments as Lender may �equest f�om time to time
<br /> tv permi�such participation.
<br /> Cvmpliance 1JI�i#h Laws. Trustor warran�s tha� the Prvperty and Trus�or's use af the Property complies with aff
<br /> �x�s�ing app�icab[� laws, vrdinances, and rsgulations��g��ernmental authorities.
<br /> Survival o�F Representations and IJ'llarranties. A[! repres�ntations, warranties, and agreements made by Trust�r in
<br /> this Deed vf Trus�shall survi�e �he exe�uti�n and delivery of this ❑eed of Trus�, shall be cvntinuing in na�ure, and
<br /> shalf remain in�full fvrce and effec�unti! such�ime as Trus�vr's Indeb�edness shall be paid in fu�l.
<br /> Ct3fVDEl1�[IVATI�N, The�oll�wing provisivns relating tv condemnation pro�eedings are a par�o�this Deed vf Trust:
<br /> Pr�ceedings. �fi any prviceeding in cvndemnation is ��led, Trustor shall prompt[y nvtify Lender in wri�ing, and
<br /> Trustor shall prvmpt[y take su�h s�eps as may be necessary �to defend �he a��ion and obtain the award. Trustor
<br /> may be the nomina! party in su�h proceedin�, but Lender sha�� be en�itl�d to participat� in th� praceeding and�o b�
<br /> repr�sentsd in the praceeding by cvuns�l of its own choice, and Trus�or wi[� deli�er vr cause tv b� deli�ered to
<br /> Lender such inst�uments and dacumentativn as may be reques�ed by Lender from �ime to time tv pe�mit such
<br /> participati�n.
<br /> Appli�ativn o�Net Prvc�eds. 1�al[ or any part❑f the Prvper�y is condemned by eminent domain prace�dings or by
<br /> any prvice�ding ❑r purehase in f�eu of condemna�ion, Lender may at its election require tha�alt or ar�y por�ivn vf the
<br /> net proceeds vf the award be applied �o the fndebt�dness or the repair or restorativn of the Prvperty. The net
<br /> proceeds ofi the award shall mean �he award after payment v�afl reasonable costs, expenses, and attorneys' #ees
<br /> incurred by Trustee�r L�nder in cvnne��ivn v►ri�h the �vndemna�ivn.
<br /> [�PDSITI�N �F T�XES, FEES AND �HARGES BY GOVERiVMENTAL AUTHDRITIES. The #ollvwing pra�isions relating
<br /> to go�ernmenta�taxes, fees and �harges are a part vf�his aeed o�Trus�:
<br /> Gurren�Taxes, Fegs and �har�es. Upvn reques� by Lender, Trustor shall exe�u�e such dvcuments in additivn to
<br /> this aeed o�Trust and take whate�er other activn is requested by Lender to per�ec� and c�ntinue Lender's lien vn
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