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2� 1 ��5191
<br /> DEED �F TRUST
<br /> Lvan No: 1 D��978�5 ��ontinued� Page 4
<br /> fihe Property shall be used first to pay any amoun� ❑wing �a Lender under this ❑eed o�Trust, then to pay accrued
<br /> interest, and th� remainder, if any, shal[ be applied t❑ �he principa� halan�e of the Indebtedness. I� L�nder holds
<br /> any pr�ceeds af�er payment in full ❑f the [ndehtedness, such praceeds shail }�e paid t❑ Trus�or as Trustor's
<br /> interests may appear.
<br /> Campiianc� with Existing indebtedness. During �h� period �n which any Existing lnd�bfedness described below is
<br /> in effect, compliance with the �nsurance prv�isivns contained in the instrument e�idencing such Existing
<br /> Indebtedness shai! cvnstitute compliance wi�h the insurance pr��isians under �his Deed ❑f Trust, ta the extent
<br /> comp[iance wifih the terms �� this De�d of Trust w�u[d const�tute a duplicati�n ❑� insurance requirement. I# any
<br /> proceeds from the insuran�e �ecome payab[e an �oss, the provisivns in this L�eed af Trust tar di�isivn of p�oceeds
<br /> shall app[y only fia that portian af the praceeds not payable t❑the hvlder a�the Existing lndebtedness.
<br /> Trustar's Report on lnsurance. Upvn request o�F Lender, hvwever not more than once a year, Trustor shall furnish
<br /> ta Lender a report on each existing po�Ecy o� insurance shvwing: ��} �he name of the insurer; t2� the risks
<br /> insured; {3} the amount ❑f �he poli�y; �4� the prvperty insured, the then current rep[acemen� �alue vf such
<br /> prvperfiy, and the manner o�determining that�a[u�; and �5} the expirati�n date o-F the p�[icy. Trustor shalf, upon
<br /> reques�o#Lender, ha�e an independent appraiser satEs�actory fio Lender determine the cash�aiue replacemen#cost
<br /> v#the Property.
<br /> LENDER'S EXPENDITURES. ff any action ❑r proc�eding is commenced tha� wauld materially affec� Lender's interest in
<br /> the Property or if Trus�vr tails to camply with any pro�ision of this Deed ❑f Trust or any Related Documenfis, inc[uding
<br /> but nat �imited ta Trus�vr's �ailure to c�mp�y with any obliga�ion tv maintain Exist�ng [ndebtedness in gaod standing as
<br /> required be[ow, �r to discharge vr pay when due any amoun�s Trustor is required ta discharge�r pay under this Deed o#
<br /> Trust ❑r any Relat�d Documents, Lender on Trustor's behaf� may {but sha[I not b� ob[igated t�} take any action that
<br /> L�nd�r deems appropriate, including but not limited tv discharging ❑r paying all taxes, [iens, secur�ty interests,
<br /> en�umbrances and ❑th�r c�aims, at any �ime �e��ed ❑r placed on the Praper�y and paying ai1 cosfs for insu�-ing,
<br /> maintaining and preser�ing the Prap�rty. A�� such expenditures incurred ❑r paid by Lender��r such purpvses will then
<br /> bear interest at the rat� charged unde�the Note �rom fihe date incurred or paid by Lender to the date of repaym�nt �y
<br /> Trustor. AI[ such expens�s wiI[ become a part ❑f the [ndeb�edn�ss and, at Lender's ap�ion, will �A� be payable on
<br /> demand; �B� be added to th� balance of the Note and be apportioned am�ng and be paya��e with any insta��ment
<br /> payments tv become due during eithe� �1} fihe �erm o� any app[icab�e insurance policy; or (2} the remaining term of
<br /> the Nate; or {C} be t�-eated as a balloon payment which wif� b� due and payahle at the No�e's maturity. The Deed ❑f
<br /> Trust aiso wi[[ secure payment of these amoun�s. 5uch right sha[[ be in addi�tion to all ❑ther �fghts and rem�dies ta
<br /> which Lender may be en�i�led upon �efau[t.
<br /> Vtil'ARRANTY; DEFENSE�F T�TLE. The�oI[owing pro�isions relating to vwnership v�the Prvperty are a par�❑f this Deed
<br /> of Trust:
<br /> Titi�. Trustor warrants that: �a} Trusfior h�[ds good and markefiable t�t�e af record to the Praperty in fiee simp[e,
<br /> free and clear �f alf [iens and en�umbrances other than thos� set forth in the R�af Property description or in the
<br /> Existing lndebtedness sec#ion below vr in any ti�l� insurance pa�icy, title reporf, or fina[tit�e opinivn issued in fa�ar
<br /> of, and accepted by, Lender �n connection with �his Deed ❑f Trus#, and {b} Trustvr has the fuf� rEght, pow��-, and
<br /> authority to execut� and de[iver this ❑eed of Trust ta Lender.
<br /> ❑efense of Ti�le. Subjec� to the exception in th� paragraph abo�e, Trustor warrants and wil[ tore�er de�end the
<br /> tit[e to the Prvperty against the lawful cla�ms of all persans. In the e�ent any action vr proceeding �s comm�nced
<br /> �hat quest�ans Trustor's�it[e or the interes�af Trustee or Lender under this Deed ❑f Trust, Trustor shall defend the
<br /> action at Trusfivr's expense. Trusfior may be the nom�nal party in such proceeding, but Lend�r sha�� be entit�ed to
<br /> participate in the proceeding and ta be r�presen�ed �n the proceeding by counse� af Lender's �wn choice, and
<br /> Trustor will de[E�er, or cause to be de�i�ered, to Lender such instruments as Lender may request-From time ta time
<br /> t❑ permit such participa�ion.
<br /> Comp��ance 1Nith Laws. Trustor warrants that the Property and Trustar's use o� the Proper#y complies wi�h all
<br /> existing app[ica}�le laws, ordinanc�s, and reguEativns ❑f ga�ernmenta[ autharities.
<br /> Surviva� of Represen#ations and Warran#ies. All represen�ations, warranties, and agreements made by Trustor in
<br /> this Deed af T�-ust shal[ sur�i�e �he execution and de[i��ry o��his I�eed of Trust, sha[[ be continuing in nature, and
<br /> shall remain in�ul�force and effie�t unti) such time as Trustor's �ndebtedness shall be paid in full.
<br /> E�15T1NG INDEBTEDNESS. The following pra�isians concerning Existing lndebtedness are a part of this ❑eed o#Trus�:
<br /> Exisfiing Lien. The �ien of this ❑eed ❑f Trust securing the Indebtedness may be secondary and in�e�-�or to an
<br /> exisfiing lien. Trustvr expressly co�enants and agrees to pay, or see t❑ the payment of, the Existing lndebtedness
<br /> and �o pre�en�any d�faul�an such indebtedness, any defau[t under the Ens��ruments e�idencing such indebtedness,
<br /> or any default under any securifiy dacumen�s for such indeb�edness.
<br /> No Mvdifica#ion. Trustor shall not �nter into ar�y agreement v►ri�h the ho[der of any mortgage, deed of trus�, or
<br /> othe� security agreemenfi which has priority o�er this Deed af Trust by whiGh that agreem�nt is modified,
<br /> amended, extended, or renewed without the prior written consent o� Lender. Trusta�- sha�� nei�her request nor
<br /> accept any future ad�ances under any such security agreement without the prior written cansent af Lender.
<br /> C�NDEMNATIaN. Ths�ollowing pro�isions re�ating to candemnation p�fl�eedings are a par�af this ❑eed vf Trust:
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