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2� 1 ��2831
<br /> DEED �F TRUST
<br /> Loan Nv: "!�1�954�7 �Cont�nued} Page 4
<br /> replace the damaged ar des�royed lmpra�ements in a manner sa�isfactvey ta Lender. Lender shall, upon
<br /> sa�tisfacfiory proa� vf such exp�nditure, pay or reimburse Trustor from �he p�viceeds for �he reasonable cos� o�
<br /> repair or restoratian if Trust�r is not in defiaul� under this Deed ❑f Trus�. Any proceeds which ha�e not heen
<br /> disbursed within �80 days a-�ter theEr r�ceipt and which Lender has not commi��ed t� the repair or restarativn o�
<br /> th� Proper�y shaf� he used �irst�o pay any amvun� vwing�❑ Lender under thEs ❑eed ❑f Trus�, then �o pay accrued
<br /> interesfi, and �he remainder, if any, shall be applied �k❑ the pr�nc�pal ba�ance af the lndeh�edness. if Lender holds
<br /> any prv�eeds af�er payment in �Full ❑f the lndehtedness, such p�-oceeds sha�l be paid �t❑ Trustor as Trusfior's
<br /> interests may appear.
<br /> T�ustvr's Report❑n [nsurance. Upon r�quest❑f L�nder, hvwever not more than ❑nce a year, T�usfior sha�E furnish
<br /> to Lender a repvr� on each existing policy a� insuranc� showing: ��} �he name o-� the insurer; ��} �he risks
<br /> insured; �3} the amount ❑�f the policy; {4} �khe proper--�y insured, the then current replacement �alue of such
<br /> p�-operty, and the manner❑f de�ermin�ng that�alue; and �5} �he expira�ivn dafie vf th� policy. T�rustar shalt, upvn
<br /> request of Lender, have an independent appraiser satis�acfiv�y ta Lender determine�he cash�alue replacement cvst
<br /> af the Praper�y.
<br /> LENDER'S E�PEND�TURES. I�any actian or proceeding is �ammenced that wau�d ma�erially affec� Lender's in�erest in
<br /> the Proper�y or if T�-ustor fails to compCy with any pro�ision of�his Deed ot Trust ar any Relat�d Documents, including
<br /> laut nvfi limited ta Trustor's �ailure tv discharge or pay when due any amounfis Trustor is required �❑ dEscharge vr pay
<br /> under this Deed a-�Trust or any Reiated I�o�uments. Lender on Trustor's �ehal�may �but shall not be obligated to} take
<br /> any ac�ion that Lender deems appropriate, in�luding but not limited �o dischargEng vr paying akI taxes, liens, security
<br /> in�erests, encumbrances and ❑�her claims, at any�ime le�ied or placed vn�he Prvperty and paying all casts�or insuring,
<br /> main�aining and preserWEng the Property. AI! su�h expenditures incurred ❑r paid by Lender�or su�h purposes wili then
<br /> bear interest at the rate �harged under th� Nv�e �rom the date incurred ar paid 1ay Lender tv the da�e of repayment by
<br /> Trustor. All such expenses will become a part a��he lndeb�edness and, a� Lender's op�ion, will �A� be payable on
<br /> demand; �By be added �o the balance of the No�e and be apportioned amang and be payab�e with any insta[�men�
<br /> payments t� became due during ei�her {�� fihe term ❑f any applicable insurance policy; �r �2} the remaining term ❑f
<br /> the No�te; or �C} be treated as a balloon paymen�which will be due and payable at the Note's maturi�y. The Deed of
<br /> Trust aEsv wi�! secure payment vf these amounts. Such ri�hfi shal[ be in addi�ivn ta a!f a�her rights and remedies �to
<br /> which Lender may be en�i�led upon❑efault.
<br /> WARRANTY; DEFENSE DF TITLE. The follawing pro�isions relatin�tv ❑wnershEp ofi�he Proper�y are a par�t of fihis Deed
<br /> o-�Trust:
<br /> Ti��e. Trustor warran�ks that: {ay Trustar halds goad and marketable fiifile vf recvrd ta the Property in �ee simple,
<br /> free and clear of all [Fens and encumhrances o�her than those se�for�h in the Real Proper�y des�ription ar in any
<br /> title insurance pol��y, titEe repor�, ar final #Et�e ❑pinion issu�d in fa�or af, and a�cepted by, Lender in cannection
<br /> wEth this Deed vf Trust, and �b}Trustar has fihe�Full �-ight, power, and auth�ri�y to�xecute and deliWer this Deed af
<br /> Trust�a Lender.
<br /> Defense of Title. 5ubject to the �xcep�ian in �he paragraph abo�e, Trustor-warran�s and will fore�er defend �he
<br /> �ifile tv the Property against fihe �aw�ui claims ❑fi all persvns. In the e�ent any a�tEon or proceeding is commenced
<br /> �ha�questions Trus�or's title ar the in�erest of Trustee or Lender under this Deed ❑f Trust,Trustar shalf d�fend�he
<br /> a�tivn at Trustor's expense. Trus�vr may be fihe nominai party in such proceeding, but Lender shafl be enti�led�v
<br /> par�icipate in the prv�eeding and to b� �epres�nted in �he proceeding by caunsei a� Lender's own choice, and
<br /> Trus�or will deli�er, ❑r cause t❑ be deli�ered, �v Lender such instruments as Lender may request�rvm�ime ta time
<br /> tv p�rmit such participati�n.
<br /> Compliance W�th Laws, Trustor warrants that the Prvper�y and Trus�tor`s use of the Property cvmplies with ail
<br /> existing applicable laws, ordinances, and regufa�ions��g��ernmental autharities.
<br /> Sur�E►ra1 of Representa#ions and 1Narranties. A!I representations, warranties, and agreements made by Trustor in
<br /> �his Deed o�Trust sha1� survi�e�he execu�ivn and deli�ery af this Deed of Trust, shal� be ��n�inuing in nature, and
<br /> sha11 remain in full�or�e and e��ect until such time as Trustar's lndeb�edness shall be paid in fu1l.
<br /> CDIVDENINATIaN. The fvllowing p�o�isions relating to cvndemnatton proceedings are a part of�his Deed ❑f Trust:
<br /> Proceedings. If any pro�eeding in candemnatian is �iled, Trustor shali promptfy not��y Lender En writing, and
<br /> Trusfiar shall promp�ly take such steps as may be ne�essary�a de�end the action and ohtain �he award. Trus�ar
<br /> may he the naminal pa�ty in such proceeding, but Lender sha[� be entitled to par-t�cipa�e �n�he proceeding and to be
<br /> repres�nted in �he praceeding by cvunsel o� ifis own chotce, and Trustvr will deli�er ❑r cause fiv be deii�ered �o
<br /> L�nder such ins�rumen�s and documentatian as may be �-equesfi�d by Lender from �ime t❑ time t❑ permi� su�h
<br /> participation.
<br /> App�ica#ion vf Net Pro�s�ds, 1�al� or any part❑�the Property is candemned hy emEnent domain pr�c�edings ar by
<br /> any proceeding or purchase in �ieu vf cvndemnativn, Lender may at its election require tha�a[l or any por�ion❑f the
<br /> net proceeds ❑f �he award be applied ta the lndeb�edness ❑r the repaEr or restora�ivn o� �he Property, The net
<br /> pr�ceeds ❑f�he award shall mean the award after payrnent of all reasonable costs, expenses, and atfiorneys' �ees
<br /> incurred hy Trusfiee or Lender in connectivn w�th the candemnatian.
<br /> IMPQS�TIDN QF TA�CES, FEES ANL] CHARGES BY G�VERNMENTAL AUTH�RITlES. The �v�lowing pra�is�vns rela�ing
<br /> �o go�ernmen�al taxes,fees and charges are a part o�this Deed of Trust:
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