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2� 1 ���379
<br /> DEED �F TF�UST
<br /> Loan No: 35�]U39079 [C�ntinu�d} Page 3
<br /> within �ifteen ���} days after Trus�vr has nv�ice of the filing, secure the discharge �f the [ien, ar if requested by
<br /> Lender,deposit with Lend�r cash or a sufficien�carp�ra��sur�ty bond or ather securi�y satisfactory to Lender in an
<br /> amvunt sufficient to discharge the Iien plus any costs and attameys'fees, vr other charges tha�could accru�as a
<br /> result of a foreclosure ar sale under the Iien. In any contest,Trustar shali d�fend itseEf and Lender and sha[(satisfy
<br /> any ad�erse judgment before enforcement against the�roperry. Trustor sha11 name Lender as an addi�ional ohligee
<br /> und�r any surety bond#urnished in the cantest proceedings.
<br /> E��dence of Payment. Trustar shall upon demand�urnish to Lender satisfactory e�idence of paym�nt of the taxes
<br /> vr assessments and shall authorize the apprapriate go�ernmental vfficial to deli�er ta Lender at any time a written
<br /> stat�ment of the taxes and assessments against the Property.
<br /> No�ice of Cvnstruction. Trustor sha[i notify Lender a#Ieast fifteen (�5} days before any work is commenced, any
<br /> services are furnished, �r any materials are supplied to the Property, if any mechanic's lien, materialmen's iien, ar
<br /> vther [ien cou[d �e asserted an account of the wark, services, or ma#er�als and the cvst exceeds $5,���.fl�.
<br /> Trustvr wil[ upvn request�f Lender furnish to Lender ad�ance assurances satisfac�ory to Lender that Trustar can
<br /> and will pay the cost af such impro�ements.
<br /> PR�PE�TY C3AMAGE [NSURAN�E. The fvl[vwing pr��isians relating tv insur'rng the Prop�rty are a part o�this Deed of
<br /> Trust.
<br /> Maintenance af lnsurance. Trustar sha[i pracure and maintain policies v�fire insurance with standard extended
<br /> co�erage endorsements on a replacement�asis for the full insurable �aIue�o�ering all Impro�emen#s on th� Real
<br /> Praperty in an amount suf�icient to a�vid appiication of any coinsurance clause, and with a standard mortgagee
<br /> �[ause in fa�vr vf Lender. Trustar shall aiso procure and maintain compr�hensi�e general liability insurance in such
<br /> co�erage amounts as Lender may request with Trus�ee and L�nder being named as additional insureds in such
<br /> liabiiity insurance policies. Additionally, Trustor shal[ maintain such o�her insurance, including but nc�t limi�ed to
<br /> hazard, husiness in�terruption, and boiler'rnsurance, as Lender may reasonab[y require. Po!"rcies sha1C be written in
<br /> form, amounts, co�erages and basis reasanably a�ceptabCe to Lender and issued by a company vr c�mpanies
<br /> reasonahly acceptabl�to Lender. Trustar, upon request af Lender, will deli�er to Lender fr�m time to time the
<br /> policies ar certi€icates of insurance in form satisfac�ory�a L�nder, includin�stipu[ativns that c���rag�s wi[[ not be
<br /> cance�ied or diminished wi�hout at [east ten �14} days prior written notice to Lend�r. Ea�h insurance policy a[so
<br /> � sha[[inc�ude an endorsement pra�iding that co�erage in fa�ar of Lender wi[I no�be impaired in any way by any act,
<br /> omrssion or de�aul'�of Trustor or any vther person. Shauld the Real Property be located in an area designated by
<br /> #he Administrator of the Federal Emergency Management Agency as a special flovd hazard area, Trustor agrees tv
<br /> ob�ain and maintain Federal Flo�d lnsurance, i#a�ailable, within 45 days a�ter notice is gi�en by Lender#hat the
<br /> Prc�perty is located in a specia!fload hazard area,for the ful!unpaid prin�ipa!balance of the Ioan and any prior liens
<br /> an the prop�rty securing�he Ioan, up tv the maximum poli�y Iimits set under the Nationa[Fl�od lnsurance Prvgram,
<br /> or as otherwise required by Lender, and�a maintain such insurance far the term af the loan.
<br /> App[ication �f Proceeds. Trustar shali pramptly notify Lender of any [oss or damage to the Praperty if the
<br /> estimated cast of repair or replacement exceeds$5,0�0.4�. Lender may make praaf af Ivss if Trustor fails ta do
<br /> sv within€ii�een (�5}days of the casualty. 1Nhether or nat Lender's security is impa'rred, Lend�r may,at L�nder's
<br /> election, recei�e and retain the pro�eeds af any insurance and app[y the pro�eeds ta the reduction af the
<br /> Indebtedness, payment v�F any [ien affecting the Praperty, or th� res#oratian and repair of the Property. If Lender
<br /> elects �o app[y th� praceeds tv restoration and repair, Trustor sha.l! repair ❑r replace the damaged or destrayed
<br /> Impro�ements in a manner satisfactory to Lender. Lend�r shall, upon satisfactory proof of such expendi�ure, pay
<br /> or reimburse Trustor�rom the proceeds far#he reasonable cast of repair ar restvratian i�Trustor is not in default
<br /> under this ❑eed of Trust. Any praceeds which ha�e not been disbursed within �IB� days ait�r their receipfi and
<br /> which Lend�r has not committed ta the repair ar restoratian af the Property shall be used first tv pay any amoun�t
<br /> owing�o Lender under this❑eed of Trust,then to pay accrued interest, and the remaind�r, if any, shal[be app[�ed
<br /> to the principal ba[anc� vf the [ndehtedness. If Lender halds any proceeds ai�er payment in ful! of the
<br /> [ndebtedness,such praceeds shall be paid to Trustor as Trustor's interests may appear.
<br /> Trust�r's Report vn lnsurance. Upon request af L�nde�, hawe�er nvt mflre than once a year,Trustor sha[1 furnish
<br /> to Lender a report on each existrng po[icy vf insurance showing: ��I} the name of the insurer; (2} the risks
<br /> insured; �3} the amount of the pv[icy; �4} #he property insured, the then current replacemen� �alue of such
<br /> property, and the manner of determining that�aIue;and �5} the expiratian da#e of the po[icy. Trust�r shal[, upon
<br /> request of Lender, ha�e an independent appraiser satisfactory t�Lender determine�he cash�a[ue replacement cost
<br /> vf the Property.
<br /> LENDER'S EXPENDITURES. If any actian or proceeding is commenced that would materially ai�ect Lender's interest in
<br /> the Pr�perty or if Trustor fails ta camply with any pra�ision of this Deed �f Trust vr any F�elated Documents, including
<br /> but nvt I'rmited tv Trusto�'s�ailure�o discharge or pay when due any amoun�s Trustor is requir�d to discharg� nr pay
<br /> under this Deed of Trus�vr any Related Documents, Lender an Trustar's beha[�may�but sha[C not be obligat�d to}take
<br /> any act�on that Lender d�ems apprapriate, inciuding but not limit�d ta discharging or paying alI taxes, liens, security
<br /> interes�s, encumbran�es and ather claims, at any time le�i�d or placed on the Property and paying all cas�s for insuring,
<br /> ma�ntaining and preservin�th� Property. Ali su�h expenditures incurred�r paid by Lender far such purposes wi[[then
<br /> bear fnterest a�the rate�harged undsr the Note from the date incurred vr paid by Lender t�the date of repayment by
<br /> Trustar. AII such expenses wi[[ b�came a pa�t o�the Indebtedness and, at Lender's ❑ptian, ►rviil �A} be payable on
<br /> demand; {B} be added to the balance of the Nate and be apportianed among and be payab[e with any instaflment
<br /> payments to becvme due during either {1} the term of any app[ica�[e insurance po[icy; ar {�} the remaining term of
<br /> the Nate; vr �C} be trea�ed as a k�al[von payment whi�h wil[ be due and payable at the Note's maturity. The Deed of
<br /> Trust also will secure paym�nt of these amaunts. Such right shall be �n additian �a all ather righ�s and remedies tv
<br /> which Lender may be enti�led upvn❑efault.
<br /> 1�ITARR►4NTY; DEFENSE 4F T[TLE. The follvwing pro�isivns relating tv ownershfp of the Property are a part o�this Deed
<br /> of Trust:
<br /> Title. Trustor warrants that: {a}Trustor holds gvod and marketable title o�record to the Property in fee simple,
<br /> fre� and clear of a.[1 [iens and encumbrances ather than those set farth in the Real Pr�perty descriptian or in any
<br /> ti�le insurance palicy, title report, or final title �pinion issued in fa�or o�, and accepted by, Lender in cannection
<br /> with this Deed of Trust,and �b}Trustor has the full ric�ht, power, and authority to ex�cute and deli�er th'rs D��d of
<br /> Trust ta Lender.
<br /> Defense o�Ti�le. Subject to the exception in �he paragraph ab��e, Trustor warrants and wi!! fore�er de�end the
<br /> title ta the Property against the fawful claims of ai# persons. In the e�ent any ac�ion vr proceeding is cvmmenced
<br /> tha�questfvns Trustor's title or th�interest of Trustee or Lender under this Deed of Trust,Trustar shall defend the
<br /> action at Trustor's expense. Trustor may be the nominal party in such proceeding, but Lender shal! be en�itled to
<br /> participate in the proceedin� and to be r�presented in the proc�eding by counse! of Lender's �wn choice, and
<br /> Trustor will de[i�er, or cause to be deli�ered,to Lender such instrumenfis as Lender may reques�from time ta time
<br /> 'to permit such participativn.
<br /> Cvmpliance Wi�h Laws, Trustor warrants that the Property and Trustor's use of the Praperty cvmplies with all
<br /> �xisting applicahle Iaws, ardinances, and regulations af go�ernmenta[autharities.
<br /> Sur�i�a[ of F�epresenta�fians and Warran�ies. AI! representatians, warranties, and agre�ments made by Trustor in
<br /> this Deed af Trust shall survi�e the execution and deli�ery of this Deed of Trust, shal[be continuing in nature, and
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