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� � 2� 1 ��5493
<br /> aE�a �F T�u�T
<br /> � ��onti�ued� Page �
<br /> furnish to Lender ad�ance assurances sati�fa��ary ta Lender that Trustor can and wil� pay the cast a�f such
<br /> imprv�ements.
<br /> PRQPERTY DAMAGE fNS�RANCE. The fallowing pro�isions relating to insuring the Property are a part vf this Deed of
<br /> Trust.
<br /> Maintenance af lnsurance. Trus�or sha11 p�vcure and maintain palic�es vf fire insuran�e wi�h standard extended
<br /> ca�erage endarsem�nts vn a replacemenfi basis far the full insurable�a�ue co�ering all Impro�ements nn �he Real
<br /> Pr�perty in an amount su�ficien� �❑ a��id application vf any �oinsurance clause, and w�th a sfandard mortgagee
<br /> clause�n fa�or af Lender. Trustor shall als�pracure and mainfiain cvmprehensi�e genera� liabi��ty insurance in such .
<br /> coverage amoun�s as Lender may request with Trustee and Lender being named as additi�nal insureds in such �
<br /> �iability insurance pvlicies. Addi�ionally, Trustvr shafl maintain such vther insurance, including hut not limited ta
<br /> ha�ard, business interrup�ivn, and boiler insurance, as Lender may reasQnably require. Po�icies shall be written �n�
<br /> farm, amaun�s, cv�erages and basis reasor�ably accepfable �v Lender and issued by a campany or campanies
<br /> reasonably acceptable tv Lender. Trus�or, upon reques� a€ Lender, will deliver�a Lender fram time �Q time the
<br /> policies or c��ti�icates o�insuran�e in fvrm sa�isfac�ory�a Lender, inc[uding stipulati�ns tha�coverages will no�be
<br /> �ancel[ed or diminished withou�a�least thi�y�30} days prior v►rrit�en notiGe fo L�nder. Each insurance policy a�sv
<br /> � shall include an endorsemen�pro�iding tha�c�verage in favar of Lender wi�l nvt be impaired in any way by any act,
<br /> vmiss�on or de�aul#❑f Tru�tvr o�any v�her person. 5hou�d the R�al Prvper�y be�o�a�ed in an area designated by
<br /> the Adm�nistrator of the Federa� Emergency Management Agency as a special fla�d hazard area, Trust�r agrees tv
<br /> abtain and mainta�n Federal Fivad lnsurance,.if available, for the full unpaid pr�n�ipa� balance ❑f#he foan and any
<br /> priar liens on the pr�perty SeCuring the 1van, up �❑ �he maximum pnlicy lim�ts set und�r �he Na�ional F���d �
<br /> lnsurance Program,ar as athe�vvise required by Lend�r,and tv main�ain su�h insu�-ance�F�r the term of the loan.
<br /> Applicatian af Pro�eed�. Trustvr shall prqmptly no'��fy Lender a�any foss ar damage to fhe Property. Lender may
<br /> make proof�f foss if Trustor faifs �o d� so within fi�teen �'I�} days a�the casuaf�y. Vllhether or no� Lender's
<br /> securify is impaired, Lender may, at Lender's election, re�eive and retain the praceeds of any insurance and apply
<br /> � the prviceeds to the reductian a�the �nd��tedness, payment fl# any lien a�Fecting the Prvperty, or the restorat�on
<br /> and repair vf�he Praperty. If Lender elects�o appfy the prnc:eeds�❑ restorativn and repair, Trustor shall repair�r
<br /> replace the damaged ❑r destray�d lmpro��ments �n a manner satis�actory to Lender. Lender shall, up�n
<br /> satisfactvey pravf a� such expenditure, pay or reimburse Trustor from the prace�ds for the reasanable cvst of
<br /> repair ar restarat�vn ;f Trustor is not ;n default under this �eed of Trus�. Any proceeds which ha�e nvt been
<br /> disb�arsed within 'f$D �lays af�er-their receipt and which Lender has no� committed to the repair ar re�tora�ivn vf
<br /> fhe Praperty shall �e used firs�ta pay any amount❑w�ng tv Lender under�his �]eed af Trust,then to pay a�crued
<br /> int�r�st, and th� remainder, i�any, shall be app�ied �o �he prin�ipal balance af�he indebtedness. If Lender ho�ds
<br /> any proceeds aft�r payment in fu�1 of �he lnde�tedness, such praceeds shall he paid tv Trus�or as Trus�or's
<br /> �n�eres#s may appear.
<br /> Trus�or"s Report an InsuranGe. Upan reques�a�Lender, howe�er nat mare than once a year,Trust�r shall�urnish
<br /> tv Lender a report on ea�h existing poliGy ❑f insurance sh�wing: t�} �he name of the insurer; ��} the risks
<br /> insured; �3} the amvunt a�the palicy; �4} the prape�y insured, the then currenfi �-eplacemen� �alue D� SLJCh
<br /> property, and�he manner af d�t�rmining that�afue;and �5} the expiration date af tha policy. Trustor shall, upan
<br /> request of Lender, ha�e an independen�appraiser satisfactory to Lender defiermine the cash�alue�-eplacemen�cvst
<br /> vf th e Praperty.
<br /> LEN�ER'S EXREND�TURES. If any actian ar prvcaeding is commenced�khat would materially afFect Lender's interest in
<br /> the Property or��Trustvr fai�s to comply with any�pra�ision of�his Deed of Trust or any R�1at�d C�o�uments, including
<br /> but not limi�ed to Trustor's faifure to discharge vr pay when due any amaun�s Trus�ar is required to discharge or pay
<br /> under this Deed of Trust or any Refated ao�uments, Lender on Trustvr's beha�f may(but shal� nvt be vhliga�ed to}take
<br /> any ac�i on tha� Lender deems appropria�e, i ncl ud i ng but no� I i mit�d to discha�gi ng or pay�ng �F I taxes, f iens, secur��y
<br /> interes�s, encumbranaes and other claims,at any time�evied or pla�ed on the Property and paying alf costs�or insuring,
<br /> mainta�ning and preserving the Praper�y. A[� such expenditures incurred or paid by Lender fo�such purpaSes w��f fhen
<br /> bear�n�erest at#he ra�e charged under the Nate from the dafe incurr�d or paid by Lender to�he date ofi�-epayment by
<br /> Trustor. AI I such expenses wi�I became a part of the Indebtedness and, at Lender�s option, wi i I �A} be payable on
<br /> demand; �B} be added to �he balance a�the Nate and be appvrtioned amvng and be payabfe wi�h any instal�ment
<br /> payments to be�ome due dur�ng either �1} the term of any applicabfe insurance policy; vr- �2} the remaining term of
<br /> �he No�e; or �C} be treated as a balloon paymen�which will be due and payable at the Note's maturi�y. The Deed of
<br /> Trust alsa will secu�e paymen� of�hese amounts. Such right shall b� in addition to a�l other righ�s and remedies to
<br /> which Lender may�ae�ntitled upan Defauft.
<br /> YtiIARRANTY; DEFENSE�F TITLE. The fallowing p�-avisions relating to ownership of the Property are a part of�his ❑sed
<br /> of Tru.st: �
<br /> Ti#le. Trustor warrants thaf: �a}Trust��- ho�ds good and mark�tabfe�itEe o�record fo fhe Prvperty in �ee simpl�,
<br /> �r�e and clear of alf liens and en�umbrances other than those set forth in �he Real Prvperty descripfian or in any
<br /> �i��e insurance p�ficy, title repvrt, vr final t�tle ❑pinion issued in �a�ar vf, and ac�epted by, Lender in canne�t�on
<br /> w�th this Deed vf Trus�, and {b}Tru�tnr has�he fuff right, power, and aufho�i�y to execute and de[��er this Deed v�
<br /> Trust to Lender.
<br /> ❑efense v�Title. Subject�o the e�c�ption in the paragraph �bo�e, Trustor warrants and wi[I �orever defend the
<br /> title tv the Property against the lawfu� �laims o�all persons. ln the��ent any action or proceeding is commenced
<br /> that ques�€ons Trustor's titfe vr the interest of Truste�or Lender under this De�d of Trus#,Trustor shall defend�he
<br /> a�tion a�Trustvr's exp�ense. Trustar may be th� nominal party in such praceeding, bu� Lender shall be entitfed #o
<br /> pa�ic�pate in �he pro�eeding and tQ be represen�ed in �he praceeding by'cvunsel of Lender's own chai�e, and
<br /> Trustor will deli�er, vr caus��o be deli�ered,ta Lender such instruments as Lender may�equest firom time to time
<br /> t❑ permit such pa�t��ipation.
<br /> �omp[iance Vlrith Laws. T�-ustar warran�s that the Prvper�y and Trustor's use vf the Praperty complies wi�h all
<br /> exisfing applicab[e laws, vrdinances,an�!regula�ions�f goWernmental auth�rities.
<br /> 5urvi�al of Repr�senta�ions and Warran���s. All �-epresenta#�vns, warran�ies, and agreements made by Trustor in
<br /> this Deed of Trust shai�survive th�e�€e�utior�and de[i�ery of this C7eed of Trust, sha[l be�ont�nuing in na�ure, and
<br /> shall remain in fulf farce and e�fecf until such��me as Bvrrnwer`s Indebtedness shal�be paid fn fufl. .
<br /> CDNDEMNATI�N, The�ollow'rng pro�isions refating ta condemnation proceedings are a par�of fhis ❑eed of Trus�:
<br /> ProGeedings. If any proceed�ng in cand�mnation is fifed, Trustor shall�prompt[y noti�y Lender in writing, and
<br /> Trus�vr shall pramptly take such steps as may be necessary ta defend�he action and ob�ain the award. Trus��r
<br /> may be�he nominal party in such prvc�eding, but Lender shall be entitled tv par���ipate in�he pr�ceeding and to be
<br /> represented in the proceeding by c�unsel vf its awn cho��e, and Trustor will deli�er or cause tv �e deli�ered tc�
<br /> Lender such instrum�n�s and documentation as may be reques�ed by Lender frvm �ime �o �ime to permifi such
<br /> pa�icipation.
<br /> Applicativn of Net Proceeds. ��f al�ar any part of the Pra�aerty is cond�mned by eminent domain prv�edings or by
<br /> any proceeding ar purchase in lieu of cond�mnation, Lender may at its ei�ction require�hat a�l or any p��tivn vf�he �
<br /> net proc:eeds of the award be applied to the �ndeb�edness ar the repair or restora�ion o�F the Property. The net
<br /> proceeds af�he award shall mean fhe award after paymsnt af al� reasonable cosfis, expenses, and attorneys'fees
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