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2� 1 ��417�
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<br /> QEE� �F TRL�S�'
<br /> {�antinu��ly �a�a �
<br /> sQcurity is impsir�d, L�nde�n�ay, at Lender'$e1��tion, rec�i�e$nd�e#ain th�praceeds af any insurance�nd�pply
<br /> the proceeds to the�retluction of the Indebtedr��s. peyment of any lian affecting the Property� �r the r�storatian
<br /> and r�peir of#he Property. If Lender elects t�app�y the proceeds to restar��ian and rapair, 7rusto�shell r�p�ir or
<br /> replace the darn�ged or �i�strayed Impra�em�nts in a manne� setisf�c#�ry tQ Lsn�er. Lender sh�ll� upon
<br /> s�tisfe�to�y p�oof o� �uch expen�liture, pay or reimbufs� Trustor fram the �acoce�ds tar the rea�onabl� cost o�f
<br /> rep�ir or rsstoratia� �f Trustar is not in def�ult under this D�ed afi Truat. Any proce�ds whtch ha�e n�t b�en
<br /> disbursed with+n 'I8�deys �fter their�e�eipt and whi�h L�n��r has not cammitted ta the repsi��r restarstion o#
<br /> the�raperty sFrall be Used first to p�y�ny�maunt awing to L�nd�r under this Q�ed of Trust,then#o ps� accrued
<br /> inter��t. �nd the remainde�, if�ny� shall be appii�d#o the principa! halsn�e of the Irrdebte�lrress. I�i Lender holds
<br /> any proceeds aiter payment in full of the IndebEednes�. su�h procaeds shall be pai� t4 Trustar a� Tru�fi�r's
<br /> iritarests may�ppeer.
<br /> Tnsst�oi's Rapart�n insur�nce. �lpon request af Lend�r, hawev�r no#mora th�n�n�e a yeerR Trust�r sh�lt furnish
<br /> to Lender a report on each �xisting palicy of insurenc� showing: {�� th� nsrne af the �nswer; �2) the risks
<br /> insurQd; �3� the �mount af the poli��; ��} ths prapert� inaUred, the then curr�nt neplacement �ra�u� af such
<br /> property, and the m�nnar af�#�rmining that�slue; �nd t�} the exp�r��ian dste�fi the poiicy. Trustor shall, upon
<br /> request a#Lender,ha�e an independ�ni eppraiser satis#�ctory t�Lend�r det�rmi�e tl�a��sh W�lue replecement cost
<br /> of the Praperty.
<br /> TA�C ANa INSURANCE RE$ERVES. Subject ta any limitat�ons �nd �onsistent with �ny r�quirements set by eppliCable
<br /> law, Lend�r m�y r�quire Trustvr to maint�in with Lender nese��es #ar payrrrent of annu8! taxes, �ssessments, �nd
<br /> ins�rance premium�, which r�s�rves ahall be cre�ted by a� initia� deposit and subs�quent m�nthlY pe�men�s. or
<br /> p��m�ntB�t such�ther interv��as peyme�ts undar th�Nate m�y be due, oi�r sum estimated by Ler�der to be suff�c�e�t
<br /> to p��r the tota� ennua� taxea, �ssessmenta. �nd insurance prem�urns Lender reasonably anticipa�e� t� be peid �rom
<br /> these r�aenr�s. Tha r�e�ser�+�e funds s#�all be he�d k�y Lendgr as a generel deposit fr�m Tru�t�r, which Ler�der may s�tisfy
<br /> i�y p�yment��the t�xe�, �ssessm�nt�. ar�d in�urance premiums requirad ta be psid by Trustor as they hecome due.
<br /> L�nder sh�#I hsva the right to dr�►n� upon #h� reser�e funds ta pay su�h �tems. anc� L�nder shall not be rsqutred to
<br /> deterrnin� the y�l�dity ar a�curacy �f �ny �tem befor� p�yin� it. Nothing in the Deed of Trust shall bs cons#ru� as
<br /> requiring L�ndsr t4 sdv�nCe othe�n�on�es for such pur�oses.snd Ler�de�$h�li not incur any liability for�nything it may
<br /> do or�mit to d� with respect ta th� reserve acc�unt. Subject to any Iimi��t�Qn$ �et �y applicable law. �f the �eserve
<br /> #unds d�ecl�se S short�ge or deficiency, Trustor sh811 psy such short�e vr defi�iency as requ�red by Len�ar. AI!
<br /> emoun#s in the�eserve�cc�ount sre hereby pl�dg�d ta further s�cure the Ind�btednass.and Lander is her�y�Uthorized
<br /> t�withdraw and�pply su�h amvunts�n the Indebtedn�ss upan the acGurr�nce of a�Event of Dertault. Lender shall no#
<br /> be required to pey �ny inte�est ar e�mings �n the reaerve funds unless requ�red by law vc agre�d to by Lender in
<br /> writing, Lender does not hold the r��en►e funds in trust for Trustor, and Lender is nat Trus�or'�agent f�r pa�ment of
<br /> the taxe�snd ssss$srnenta required to be psid by TrUstor.
<br /> LEIIiDER'�E�PENDITURES. If�ny action ar proceeding i��omma�ced th�t wou�d mater�slly �ffe�t Lender's inter�st in
<br /> #he Property Qr if Trustar f�ils t���mply with any pra�ision a#this De�d of Trust�r eny Relste� ao�uments, �nclud�n�
<br /> hut not li�ited ta fin�siar's fsilure to�lisch�rge or pay when due any amvUnts TrustQr is required t�discharge ar pay
<br /> under thts Deed Qf Trus�ar any Aelated Oocuments. Lend�r�n Trustor's beh�lf rne� �but shafl n�t be obligeted tvy t�k�
<br /> any sction thst Le�der deems �pprapriete� including but nat limited tv discharging �r psying all taxes� liens. aecurtty
<br /> inter��ta,�ncumbranc�s sn�other�laims,at�ny tirne le�ie�!ar�1�t�ed on#he Prvperty and psying all�asts far insuring,
<br /> m�intaining and�are��rvir�g the Property, All such expenditures �n�urr�d�r psid by Lender for such purp�ses will then
<br /> b�ar interest�t th�rate charged under the Not� from th�d�te incur�ed Qr paid by Lender to the d�te�f rep�ymen�k�y
<br /> Tnratar. AI� sucFr �xpenses wil! become a part oi the Irrde�tedness and. at Len�er's �ptian, wi�l �A} be payah�e on
<br /> d�m�rx�; �g� �e ��l�led to #he b�l�r�e of the N�te snd he apportivned �mor�g anc� be p�yabl� with �ny instsllrnen#
<br /> �aymenta#� become due during eith�r t�#] the term of any applicable insur�nce palicy; or R�} the remainfng term of
<br /> ' th� Nate;or �Cf be t�e�ted a�a!��llaon payment which wil��e due and p�yab�e�t t�e Nate's maturity. The Deed oi
<br /> Truat a�so win secure Qayment �f thesa em�unt�. Such ri�ht shal� be in addition to all ather rights ��d remed�es ta
<br /> which L�nder may ae ent�tled upor�Def�ult.
<br /> WARRANTY;DEFENSE��TITLE. The fol�ovrring pravisions relating to�wrrarship of the�roperty are$part o�this Deed
<br /> of Trust:
<br /> Titis. Tru�tor warrents that: ��y Trustor holds good and marketable title a#record to the Pr�perty in fee s�mple.
<br /> � �ree�nd clear a�ail liens end enGumbr�nces ather than tha�e set for#h in the Reel Praperty degcription or in �ny
<br /> titiv insuren�� poiicy. title repart, or �in�l title ap�ni�n i�sued in t��or o#. and accepted by, Lender in conne�tion
<br /> with thia Deed af Trust, snd Rbj Trust�r has the full right. p�war�and auth�rity ta exe�ute and deli�►�r this D�ed o#
<br /> Truet ta Lender.
<br /> D�i�sv of Ti1�. Subject #o #he exce�t�n in the p�rag�aph a�a�e, Trustor warrsnts �nd wili fare�er defend the
<br /> #itle to the Pr�perty against tl�e#�wful cl�ims Qf all persons. In the event sny�ctian or prac�edin� is cQmmen�ed
<br /> that questians Trustar's title or the interest�#TrUstee ar Lende�r unde�this Deed of firust.Trustar shall defend�F�e
<br /> acti�n�t Trustar's expense. Tru�tor may be#h�naminal party in su�h proceeding� bu#Lender shall ba entitied to
<br /> psrt�cipate in the �ro�eeding 8nd ta be reprssent�d in th� proce�dirrg by ��uns�l af Lender's �wn ch��ce, and
<br /> Trust�r w�fl d$li�er�or c�us�to be defi►►ered�to Lender such instruments�s Lender m�y request from time xa tim8
<br /> I to permit such participation,
<br /> oe 1Nith Laws. Tcustar warrant� th�t th� Property and Tru�tar's u�e o�the Pr�p�rty com�lies with �II
<br /> exiat�n$applica�fe i�ws�or�insnc�g,and r�gulsti�ns of gavernmental�Utharities.
<br /> �urvi+ral of I�prassr�ta�tians�nd Warrar�ies. AI� represen#at��ns, w�rrantie�. and a�reements m�dQ by Trusto�in
<br /> #h�s�d of Trust sh�ll sur�ive the�xecution�nd deli�ery of this Deed af Trust, sh�l!be cantinuing tn ne#ur�, �nd
<br /> sh�ll remein in full far�e and effec#until such#ime as Trustor'a�ndebtedne�s sh�l�be paid in full.
<br /> CQNE�E�AIIiATi�N. The following pro�risivns rel�ting to condemnstian procee�ings are a pert o��#hi�Deed of TrUst:
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<br /> Pro�dir�s. If �n� pr�ceeding En ��ndemnatian is tit�d. Trustar shalt promR�ly notify Lender in writing, ancf
<br /> Trust�r�h�ll prompt�� t�ke su�h stsps�s may be necessery to defiend tha actian and obtsin the aw�rtl. Trustor
<br /> � m�y�e#he nvmin�l p�rt�in such proceeding.�ut Lend�r shall be enti���d t�particip�t�in the proceeding and ta b�
<br /> ; repr�sented �n the proce��in� by ��unsal o� its own �hoi�e, �nd Tru�tvr will d�li��r or c�use to be d�liWersd to
<br /> � Lender $u�h instrum�nts and docum�nt�tion �� rn�y �e r�quest�d by Lerrde� from time to t�me ta p�rmi� su�h
<br /> participat�an.
<br /> App�cs�tJ�n�#IMat . If�It or any part a�the Pr�p�rty is�ondemne�by�minen#d�m��n pr��eedin�s or by
<br /> �n�proce�ding or pu��h��e i�r I�eu fli candamnat�on. Ler��er r�ay�t its ele�tron require that a�!ar any portion at the
<br /> n�t pro�e�ds �#th� �ward t� appl��d tQ th� Indebtedness �r the repstr �r reatora#ion o� the Praperty. The net
<br /> pracee�s of the�w�rd shall m�an the�w�rd after payment�f all reasonable cas�s, expanses, �nd�ttorn�ys'fees
<br /> �ncur+r�d by Trustee vr Lender in c�nnecti�n with the conden�na�ian.
<br />' IMPaSITI�N OF TA}CES► FEE� AND CHARGES BY G�VERNMENTAL AUTH�RITIES. The f�llov�in� pro�►�si�ns re�at�ng
<br /> t�go�emmentsl t�xes.�eea Snd charg��are�p�rt of this Qeed of firust:
<br /> �rn�t Taxss, Fee�and Cha�rg�a. Upvn request by Lender, Trustor shall sxecute such tlo�umen#s in additian ta
<br /> this Deed of Trust�nd t�ke whetet�er other 8ction is requeated by L�nder ta per�ect and cantinue Lender's�ien on
<br /> the Resl Prop�rty. Trustor shal� reiml�urse Lender #or a�l taxgs, as deacrEbed aelaw, tagether v�►ith all expense�
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