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<br /> DEED OF TRUST
<br /> Loan No: 6ou4s (Continued) Page 3 •
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<br /> hazard, business interruption, and boiler insurance,""Lender may reasonably require. Policies shall w written~
<br /> form, amounts, coverages and basis reasonably acceptable ,o Lender and issued *, u company ~ companies
<br /> reasonably acceptable m Lender. Truster, upon request m Lender, will deliver`" Lender from time'v time the
<br /> policies.,certificates,f insurance m form satisfactory=Lender,including stipulations that coverages will not^°
<br /> cancelled or diminished x^°ut at least ten(101 days rior writte notice to Lender. Each insurance policy also
<br /> shalt include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act,
<br /> omission or default of Truster or any other person. Should the Real Property be located in an area designated by
<br /> the Administrator of the Federal Emergency Management Agency as a special flood hazard area.Truster agrees to
<br /> obtain arid maintain Federal Flood Insurance,it available,for the full unpaid principal balance ot the loan arid any
<br /> prior liens on the property securing the loan, up to the maximum policy limits set under the National Flood
<br /> Insurance Program,or as otherwise required by Lender,and to maintain such insurance for the term of the loan.
<br /> Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may
<br /> make proof of loss if Truster fails to do so within-fifteen 051 days ot the casualty. Whether or net Lender's
<br /> security is impaired, Lender may,at Lender's election,receive arid retain the proceeds of any insurance and apply
<br /> the proceeds to the reduction of the Indebtedness,payment ef any lien affecting the Property, or the restoration
<br /> and repair of the Property. If Lender elects to apply the proceeds to restoration and repair,Truster shall repair or
<br /> replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br /> satisfactory proof of such expenditure, pay or reimburse Truster from the proceeds for the reasonable cost of
<br /> repair or restoration if Truster is not in defaue under this Deed of Trust. Any proceeds which have not been
<br /> disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoration of
<br /> the Property shall be used first to pay any amount owing to Lender under this Deed of Trust.then to pay accrued
<br /> interest,and the remainder, if any, shall be applied to the principal balance of the indebtedness. If Lender holds
<br /> any.proceeds after payment in f ull of the Indebtedness, such proceeds shall be paid to Truster as Truster's
<br /> interests may appear.
<br /> Trustor's Report on Insurance. Upon t of Lende however not more than once°year,Truster shell furnish
<br /> to Lender a report on each existing policy of insurance showing: (.1i the name of the insurer: (2.! the risks
<br /> insured; (3) the amount of the policy; (4( the property insured, the then current replacement value of such
<br /> property.and the manner of determining that value;and 151 the expiration date of the policy. Truster shall,upon
<br /> request of Lender,have an independent appraiser satisfactory to Lender determine the cash value replacement cost
<br /> of the Property.
<br /> LENDER'S EXPENDITURES. "any action",proceeding/"commenced that would materially affect Lender's interest."
<br /> the Property o,n Truster fails m comply with any provision"f this Deed"'Trust o,any Related Documents,including
<br /> hut not limited mrru",",'"failure,"discharge",pay when due any amounts Truster'"required nui""herg°",pay
<br /> under this Deed*Trust~any Related o^""mw's�Lender=n"sm,'s^°^"x may m",s^w/not�"m.nm" =`°^"
<br /> any action that Lender deems appropriate,including limited discharging or paying all taxes, liens, w*
<br /> interests,encumbrances and other claims,at any time levied or placed on the Property arid paying all costs for insuring.
<br /> maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then
<br /> bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by
<br /> Truster. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on
<br /> demand; 031 be added to the balance of the Note and be apportioned among and be payable with any installment
<br /> payments to became due during either CI the term of any applicable insurance policy;or I.2.1 the remaining term of
<br /> the Note;er rCl be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of
<br /> Trust also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to
<br /> whieth Lender may be entitled upon Default.
<br /> WARRANTY:DEFENSE OF TITLE. The following provisions relating to ownership m the Property are"part m this Deed
<br /> of Trust:
<br /> Title. Truster f record to the Prope in fee
<br /> tree and clear^r all liens and encumbrances other than those set forth m the Real Property description",*any
<br /> title insurance policy, title report, or final title opinio issued in tSVOr of. arid scccptsd by, Lender in connection
<br /> with this Deed",Trust,and lb;Truster has the full right,power,and authority m execute and deliver this Deed m
<br /> Trust mLender.
<br /> Defense of Title. Subject to the exception in the paragraph above,Trusto and will forever defend the
<br /> title to the Property against the lawful claims of all persons. In the event any action er proceeding is commenced
<br /> that questions Trustor's title or the interest of Trustee or Lender under this Deed of Trust,Truster shall defend the
<br /> action at Trustor's expense. Truster may be the nominal party in such proceeding,but Lender shall be entitled to
<br /> participate in the proceeding arid TO be represented in the proceeding by counsel of Lender's Own choice, and
<br /> Truster will deliver,or cause to be delivered,to Lender such instruments as Lender rnay request trom time to time
<br /> m permit such participation.
<br /> Compliance With Laws. Truster warrants that the Property and r,usw''"use "'the Property complies with all
<br /> existing applicable laws,ordinances,and regulations.,governmental authorities.
<br /> Survival of Representations and Warranties. All representations,warranties. and agreements agreements made by Trustor in
<br /> this Deed",Trust shall survive the execution and delivery^,this Deed",Trust,shall be continuing u nature,and
<br /> shall remain m full force and effect until such time=r,=~,'`Indebtedness shall^.paid`"full.
<br /> CONDEMNATION. The following provisions relating w condemnation proceedings are"part m this Deed mTrust:
<br /> Proceedings. x any proceeding m condemnation is filed, Truster shall promptly notify Lender m writing, and
<br /> Truster shall promptly take such steps°"may be necessary m defend the action and obtain the award. Truster
<br /> may^"the nominal party/"such proceeding,but Lender shall u"entitled,w participate."the proceeding and to be
<br /> represented in the proceeding by counsel "/its own choice, and Truster will deliver".cause m^e delivered to
<br /> Lender such instruments and documentation "" may »° requested b' Lender from time m time m permit such
<br /> participation.
<br /> Application w Net Proceeds. n all v,any part"f the Property/"condemned u,eminent domain proceedings"'^,
<br /> any proceeding",purchase'"lieu",condemnation,Lender may",its election require that all or any portion"^the
<br /> net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property. The net
<br /> proceeds w the award shall mean the award"n",payment",all reasonable costs,expenses,and attorneys'fees
<br /> incurred w Trustee",Lender'"connection with the condemnation.
<br /> IMPOSITION OF TAXES,FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following proviSions relating
<br /> m governmental taxes,fees and charges are.part°,this Deed",Trust:
<br /> Current Taxes, Fees and Charges. Upon request by Lender,r,"",m shall execute such documents in addition to
<br /> this Deed m Trust and take whatever other action'"requested^,Lender'"perfect and continue Lender's lien""
<br /> the Real Property. nusp'shall reimburse Lender for all taxes, ""described below, together with all expenses
<br /> incurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes, m.°.
<br /> documentary stamps,and other charges for recording",registering this Deed v,Trust.
<br /> Taxes. The following shall constitute taxes to which this section applies: ,n "Specific tax upon this type of
<br /> Deed m Trust"'upon all",any part°,the Indebtedness secure by this Dee of Trust: ,o a specifi m,."
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