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2� 1 ��47�5
<br /> DEEC3 �F T`�C�ST
<br /> �C�nt�nued� Page 3
<br /> services are€urnished, vr any ma�erials are supp�ied�a the Prvperty, if any mechan��'s fien, materia�men"s fien, ar
<br /> vther Ifen could be asserted on accvunt of the workr 5$1"111C@S, or ma�eriafs. Trustor will upvn request o� Lencler
<br /> fu�nish �o Lender advance assurances satisfactary to Lend�r that Trus�vr can and will pay �he cvs� of such
<br /> impro�ements.
<br /> PRDPERTY DAMAGE iNSURANCE. The follvwing pro�isions relating tv insur�ng the Prope�ty are a part of fhis D�ed af
<br /> Trust.
<br /> IVlaintenance of insurance. Trustor sha�� pracure and maintain pv�i�i�s ❑f fire insurance with s�tandard extend�d
<br /> ca�era�e endo�semen�s on a replacement basis for�h�fu�l insurable �alue cv�ering al� imprv�ements on#he Real
<br /> Property in an �mount sufFicient to a�a�d applica�ian af any cainsurance clause, and with a standard mortgag�e
<br /> c�aus�in fa�ar of Lender. Trustor shalf also prvcure and maintain �omprehensi�e general �iability insuran�e�n su�h
<br /> coverage amount� as Lender may request with Trustee and Lender being named as additiona� insureds in su�h
<br /> �iability insur�ance poliGies. Additianally, Trust�r shall maintain such ��her insurance, includ�ng bu� not limited tv
<br /> hazard, business interrup�ivn, and bai[er insurance, as Lender may reasvnabfy require. Pv��cies shal! be vsrritten in
<br /> form, amounts, co�erages and basis reasonably ac�eptable ta Lender and issued by a cvmpany or cvmpani�s
<br /> reasonably acceptable �o Lender. Trustar, up�n request of Lender, will deiiver �o Lender frvm time �o �ime the
<br /> policies ar cer�ificafes 4f insurance in form sa�isfac�ory ta Lender, in�fuding stipulatinns that cvverages will not be .
<br /> cancel�ed vr diminished withou�a�least thirty�3�} days prEar written natice tv Lender. Each insurance policy also
<br /> shalf include an endorsement pro�iding thaf caverage in fa�vr o�Lender wil� not be impaEred in any way by any act,
<br /> omissivn or d�fault o�Trustor ar any ather person. Shvuld the R��I Property he located in an area designated by
<br /> �he Administrator�t the Federal Emergency Management Agency as a speciaf flood hazard area, Trus�or agrees to
<br /> abtain and mainta�n Federal F��od �nsurance, if available, for fhe�ull unpaid principal balance a€the laan and any
<br /> priar liens vn �he prop�rty securing �he I�an, up to the max�mum paficy limits set under the Na��onal FioQd
<br /> lnsuran�e Prngram,ar as atherwise required by Lender,and to maintain such �nsurance�vr the�erm of the loan.
<br /> Applicat�an vf Proceeds. Trustor shall pramp�[y nnfify Lender vf any loss vr damage to�he Proper�y. Lender may
<br /> make prvof vf loss if Trustvr fails tn dQ so wi�hin ��f�een {'I5} days of the casua�ty. Whether or nat Lender's
<br /> securi#y is impaired, Lender may, at Lender's elec�ian, recei��and retain the prviceeds❑f any insurance and apply
<br /> the pr��eeds �o the reduc�ion o�the �nde�tedness, payment q€any lien affecting �he Property, vr the restoration
<br /> and repair af the Prope�-ty. if Lender ele�ts ta apply the praceeds to resta�ation and repair, Trus�or shall repair+or
<br /> replace the damage�i vr destroyed �mprv�emen�s in a manner satisfac�vry to Lende�-. Lender shall, upon
<br /> satisfacfary praof of such expendi�ure, pay �r r�imburs� Trustor frvm the proceeds ��r �he reasonable �ast Qf
<br /> repair or restora�ion i� Trustar is nat in defaul� under this ❑eed �f Trust. Any prviceeds whi�h have nat been
<br /> disbu�-sed within '1�Q days a�ter their receipt and which Lend�r has not committed ta the �epair ar restora�ion c�f
<br /> �he Propetty shall k�e used f�rs�ta pay any amount vwing to Lend�r under�his Deed of Trust,�hen t❑ pay acGrued
<br /> in�eres�, and �he remainder, if any, sha[[ be applied ta the principal balance ❑f the Indebtedness. ]f Lender holds
<br /> any proceeds af�er payment in �ull of the lndebtedness, such proceeds shalf he paid to Tr-ust�r as Trustor's
<br /> interests may appear.
<br /> �ompliance with Existing Indebtedness. During �he perivd '€n which any Existing Indebtedness descri�ed below is
<br /> in effect, �ompfiance with �he insurance pro�isians contained in #he instrument e��dencing su�h Existing
<br /> indehtedness sha�l cvnsti�u#e compliance with the �nsurance p�o�isivns under this ❑eed o� Trust, �a the ex�en#
<br /> compliance with the terms vf this C3eed of Trust wvufd consti�ute a duplication af insurance requirement. If any
<br /> proce�ds f�-om the insurance becvme payabie on Ioss, the p�v�isions in#his Deed a�Trust for division vf proceeds
<br /> sha��apply only to that po�kion of the proceeds not payable to the hofder af�he Existing 1nde�tedness.
<br /> Trus�ar's Repo�t on Insurance. Upon request of Lende�-, hawe�er na� mvre than onc�a year, Trust�r shall furni�h
<br /> to Lender a repvrt on each �xisting poiicy of insuran�e showing: ��} the name ��the insu�er; �2} the risks
<br /> insured; �3} �he amnunt o��he pali�y; �4} the proper�y insured, the then current replacement �alue of such
<br /> prvp�rty, and�he manner of determining that�alue; and �5} #he�xpira�ivn date a�the pvlicy. Trus�or shali, upan
<br /> request of Lender, ha�e an independent appraiser satisfactary tv Lender determine#he cash�alue�-eplacement cast
<br /> of�he Prvperty.
<br /> LEIVDER'S EXPENDfTLIRES. ff any action or proaeeding is commenced that would materiafly affec�Lender's interest in
<br /> the Property vr if Trus�vr fails to compfy uvith any pro�isron of this Qeed of T�-usir or any Re�ated Dacuments, inc�uding
<br /> but no� I�mitsd to Trusto�'s faifure�o comply w�th any obliga�ion ta main�a�n Existin� Indebtedness in good standing�s
<br /> required befow,or to discharge or pay when due any amvunts Trust�r�s required�o discharge or pay under this Deed of
<br /> Trust or any Related Dn�uments, Lender on Tru�tar's beha�f may (but shall n�t be vbligated ta�take any activn �hat
<br /> Lend�r deems appropriate, i n�l ud�ng but not �i mited ta dis�harging a� payi ng al l taxes, �i ens, secu rity i nterests,
<br /> encumb�ances and other claims, at any time le�ied vr p�ac�d vn the Proper�y and pay�ng al� costs for insuring,
<br /> ma�ntaining and preserving the Properly. All such expenditures incurred or paid by Lender�or such purpvses wi�l then
<br /> bear interest a�the rate cha�ed under the Nate frvm the da�e incurred or paid by Lend�r�o�h�dafie vf repayment by
<br /> Trustor. All such expenses will become a par�vf the lndebtedness and, at Lender's aption, will (A} �e payab��vn
<br /> demand; (B} be added to the balance of�he Note and be apportioned among and be payab[e with any instal�men�
<br /> payments ta become due during�ither �'1} th�t�rm of any applicable insuranre policy; o� �2} the remaining term❑f
<br /> �he Nofie; or {C} he trea�ted as a balloan payment wh�ch will be due and payable a�the Note's ma�urity. T�-ze Deed af
<br /> Trust a�s�wif 1 se�ure payment of these amaunts. Such r�gh� shall be in addit�an to a�f �ther rights and remedies to
<br /> which Lend�r may be enfiit�ed upon Defaul�.
<br /> V1IARRANTY; DEFENSE�F TITLE. The follnwing provisions re�a#ing ta ownersh�p❑f the Property ar�a par�af�his Deed
<br /> o�Trust:
<br /> �'�tle. T�-ustar warrants that: �a}Trus�nr holds good and marketable title of record to the Praper-�y in fee s�mpf�,
<br /> free and ciear of a�l ��ens and encumbrances other than �hose set fa�h �n the Real Proper-ty descriptian vr in �he
<br /> Existing �ndebte�n�ss secti�n below or in any title €nsurance�aoii�y, �it�e rep��t, ar��nal titl�vpinion issued in fa�or
<br /> vf, and accepted hy, Lender in connect�on wi�h this D�ed o�Trust, and �h}Trus�vr has�he �uff righ�, pawer, and
<br /> authbriiy ta�xecute and deli�er#his❑eed of Trust to Lender.
<br /> Defense Q�Tit�e. Sub�ect�❑ the exceptivn in the par.agraph aba�e, T�ustor warr-ants and wif I �a�e�er de�end �he
<br /> �it[e �a the Property against the lawfu� claims�f all persons. ln�he e��n�any activn vr p�-oceeding is commenced
<br /> tha�ques�ions Trustor's ti�le or the �n#erest o�Trustee vr Lender under this �]�ed of Trust,Trustor shall defend#he
<br /> act��n at Trustvr's expense. Trustar may be�he naminal party in such p�oceed�ng, bu# Lender shaff be entitled �❑
<br /> parkicipate in the prviceeding and ta be represenfied in �he praceeding by counsel of Lender's own choice, and
<br /> Trusto�wifl delE�e�, or cause�v be de�i�ered,tv Lender such �ns#ruments as Lende�may request frvm t�me�o time
<br /> ta permit such participation.
<br /> Cvmpliance Vlli�h Laws. Trustnr warrants �hat fihe Property and Trustar's use o�the Property complies w�th all
<br /> existing appli�able laws,Qrdinances, and reguia�ions vf gv�ernmentai au�horities.
<br /> Survi�al o�Representat'rans and Warranties. Alf representations, warranties, and a�reements made by Trustvr�n
<br /> �his Deed of Trust shail survi�e the executivn and deli�ery of this Deed of Trust, shall be continuing in nature, and
<br /> shall remain in�ull farce and efFecf un�i�such time as B�rrower's �ndebtedness sha��be paid in full.
<br /> EX�5TING INDEBTEDNESS, Th��ollowing pra�risivns concerning Existing fndebtedness are a part of this Deed of T�-ust:
<br /> Ex�sting Lren. The lien of �his Deed of Trust sscurFng the Indebtedness may be secondary and �nferivr �o ar�
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