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2� 1 ��4�7�
<br /> C]EED []F TF�lJSY
<br /> Lvan Na�: 'f D��9�5�7' ����1t�n��d� P'ag� �
<br /> hazard, bus�n�ss �nxer�uption, and hailer �r�surance, as Lender may re�sanably require, Poli��es shall be wri��t�n in
<br /> form, amaun�s, �o�era�es and basis rea�onabfy ac�ep�able to Lender and issued by a c�mp�ny �r companies
<br /> reasanably acGep�able �o Lende�. Trustarr up�n request r�� L�nder, wi�� deliver to Lender frvm �ime ta fiim� the
<br /> palicies vr cer�ifi�ates of insurance in �orm satis�actary�t❑ Lender, in�suding st�puiati�ns that coverages will not be
<br /> Gancelled ar diminished withau� a� �east ten ��D� days p�ivr vti►ri�ten na�ice to Lender. Each insur�nce pnlicy a�so
<br /> shall include an end�rsemsn�pro�iding that�oWerage �n fa�or of Lender wi[! nv�be impaired in any way by any a�t,
<br /> ❑m�ss�on ❑r de�ault o�Trustor or any other persvn. Should �he Real Property be I�cated in an �rea d�signated by
<br /> �the Administ�ator�of the Federa� Emergency IVlanagement Agency as a spe�ia� #Ivod ha�ard area, T�ustar agrees to
<br /> ❑t��tain and main�ain Fede�al F1vad Snsuran��, i� a�ailabl�, �ar the tul� unpaid principa� balance of the laan and any
<br /> prior liens an the property se�uring �he iaan, up �a the maximum pol�cy limi�s se� under the Na�ianal FFovd
<br /> �nsurance Program, vr a�v�herwi�e required by Lender, and tQ main�ain such insurance�or�h�term ofi�he laan.
<br /> App�ic��ion a� Prvc�eds. Trus�ar shall promp�l� n��ify L�nd�r v#�ny �vss at dama�e �a �he Praperty. Lender may
<br /> m�k� praa� of fass if Trus�ar tails ta do �o vuithin fif�een ��5} day� of �he �asualty. Whether or r�ot Lender`s
<br /> s�curi�y is imp�ir�d� Lender may, a� L�nder's �lection. re�ei�e and �e�ain �he prvice�ds v�any insurance and apply
<br /> �he pro�eeds �v the reductian o� �he lndeb�edness, paymen� ❑f �ny lien affe��ing the property, ar the re��vration
<br /> and repaEr��the Property. !f Lender elec�s �v apply th� proceeds�o res�ara�ion and r�pair, Trus�ar shall repair ar
<br /> replace �he damaged or destroyed Improvements �n a manner sa�is�actary t❑ L�nder. Lender shall� upan
<br /> sa�isfacto�y praof of suGh �xpenditure, �ay vr re€mburs� Yrustor fram the p�nGeeds for �the reasanab�� cost vfi
<br /> repair ar res�ora�ivn if Trustar is not in de�ault under �his Deed o� Trus�. Any praceeds which ha�e nvt be�n
<br /> dssbursed within �84 days atter thei� receipt and ►nrhiGh Lender has no� committed �v the repair ❑r rest��ation a�
<br /> '�he Prap�rfiy shall be used firs��v pay any amoun� vwing�o Lender under this L�eed o�Trust, then t❑ pay accrued
<br /> interest, and the rema�nder, i� any, shaS� �e ap�plied �o �he principal balan�e o�the �ndebtedness. 1� Lender halds
<br /> any pra�eeds after paymen� in €�!I o� �he lndebtedness� such prviceeds shall be pafd �tv Trus�ar as Trustor's
<br /> in�eres'�s m�y app�ar.
<br /> CQmpliance wi�h Existin� �ndebtedness. Quring the period in �►vh4ch any Existing lndebt�dness desc�sbed below is
<br /> in e��ec�� cvmpfiance with the ins�rance pro�isions con�ained in the ins�rumen� e�idencing such Existing
<br /> Indeb�edn�ss �hall Gon�tEtu�e compliance wifih the insuranGe pro�+s�ans under th�s D��d o� Trust, �v the ex'�en�
<br /> compliance wi�h the t�rms a� this ❑�ed o�F Trust wauld �anstitu�e a duplicativn o� insurance requiremen�. !f any
<br /> praceeds �rvm the insuranc� become payahle an Ioss, �he proWisions in�h4s De�d of Trust�vr di�isi�n of proce�ds
<br /> shall apply�nly tv tha�pvr�ion o�the proGeEds no�pa�abl��❑the h�lder o�the Exisfiing �nd�btedness,
<br /> Trus#or�5 Report on �nsurance. Upvn reques�of L�nder. hawe�er not mvre than vnce a year, T�us�or shall #urnish
<br /> ta Lender a report on ea�h eacis�ing pvlicy of insurance showing. �'I� the name of the insure�; {�} the risks
<br /> insured; �3� the amoun� Q� #he po�icy; {4} the property insured, the then eurrent repia�ement �alue a� such
<br /> proper�y, and�he manner of de�ermining�ha�va�ue; and {5} �he expEration date ��th� policy. Trust�r shall, up�n
<br /> reques�❑f�.ender, ha��an independent appraiser satis�actory tv Lender det�rmine the cash value r�plaCement cvst
<br /> ❑��he F'f�p�rty.
<br /> LENDER'S EXP�ND�TURES. 1�any ac�ion ar praceeding is cQmmenced tha�wauld ma�erially a��e�� LEnder's in�ere�� �n
<br /> the Prdpe��y ❑r if Trus�ar�ails �v comp�y wi�h any pt�a�isian �a�thEs Deed o�Trust ar any Rei�ted ❑ac�men�s, inciuding
<br /> bu� not [imited �a Trus�or's �ailur� to comply wi�h �ny vbliga�ian �o m�intain Exis�ing lndeb�edness in good sta�tding as
<br /> requir�d ���ow, or tv disCharge�r pay when due any amoun�s Trus�or is r�quired tv dsscharge❑r pay under�his Deed at
<br /> Trust ar any Relat�d Qv�um�n�s, Lender an Trus�ar's �ehaif may �but shalf no� be ahiiga�ed tol take any actian that
<br /> Lende� deems appr�pria�e, inc[uding bu� nat limited '�❑ disch�rging vr paying alS taxes, �iens, security interests,
<br /> en�umbrances and ❑th�r �fairns, at any t�me le�ied ❑r plac�d fln the Praperty and paying al� ca$ts �or insuring,
<br /> main�ain�ng and prese�-Wing �he Pr�perty. All such expendEtures incurred v� paid by Lender�vr such purpases w�ll then
<br /> �ear interEst at�he ra�e charged under the Na'�e from the d��e incurred ar paid by Lender fia the date o� repaymen� by
<br /> Trustar. All such e�penses will became a par� vt�he Inde�tedn�ss and, a� Lende�'s ❑p�ian, wilf �A� be payable vn
<br /> demand; �B� be add�d to the t�alance ❑f th� Na�e and b� app�rtioned amon� and be payable �r+iith any ins�alfinent
<br /> payments �❑ beGvme du� during ei�her �1} �he term ❑f any applicable insuran�e palicy; vr ��� the remaining �erm a�
<br /> �he N��e; or ��� be �reated as a ba[�Qon paym�nt vvhich wiii be due and paya�le at the Note's ma�uri�y. Th� De�� of
<br /> Trus� a1s� wi[� secur� payment of the�e amaunts. Su�h righ't sh�E! be in �ddi�ion �o all o�h�r rir�hts and r�medies �tv
<br /> which L�nder may�e enti�led up�n De#au�t.
<br /> IIL�'ARRANT'�: DEFENSE UF T�TLE. Th��ollawing pr���si�ns re4ating to ownership of the Property are a par�of�his �eed
<br /> v�Trust:
<br /> Tit�e. �rustar warrants tha�: �a� Trustor ha[ds govd and marke�able title ❑� re�ord �v the Prop�rty in fee sirr�ple,
<br /> �r�e and clear o� a11 liens and encumbranGes a�her t�an �hvse set #or�h in the Real Prap�rty descriptivn ❑r in the
<br /> Exis'�ing Indebtedne�s secfii�n belorrv or in any tit[e insurance po�icy, �rtie �epart, ❑r#inaf�itle opinion issued in�a�ar
<br /> o�, and accep�ed by, Lender in c�nn�c�ion with �his �3eed af Trust, and �E�} Trustor has�the fufl right, power, and
<br /> authar�ty to execu�e and deli�er this Deed ��Trusfi ta Lender.
<br /> De�ense a# Titse. Sufa�ec� �Co the ex�eptian in the paragraph abave, T�rustor warrants and wit� fore�er defend the
<br /> title to �he Pr�perty against�he lawful CEaEms af a�� persons. ln the e��nt any ac�ian or praceeding is comm�n�ed
<br /> �ha�questions Trustar's ti�le�r the tn�e�est at Trus�ee or Lender un�er�h�s Deed v�Trus�, Trus�vr shaff de��nd �he
<br /> ac�ian at Trus�ar's exQense. Trus�or may be the nvminal Ra��y in suc� praceeding, but Len�cr shail be entitled to
<br /> �arti�ipate in the proceed�ng and to be �epresented in �he praG�eding �y �aunsel ❑� �,end�r's �wn chasce, �nd
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