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2� 1 ���913
<br /> DEED �F TRU�T
<br /> L�an Nv: 'i��299372 �Cont�nued� Page 4
<br /> make proof of loss if Trus�vr fails fi❑ d❑ so within fifteen ��5� days af �he casual�y. VIlhe�her �r not Lender's
<br /> security is impaired, Lender may, a� Lender's �I���ion, recei�e and retain the proce�ds a�any insurance and apply
<br /> the pr��eeds t❑ the �-eduction of fihe [ndebtedness, payment of any lien affecting the Property, ar the res�orativn
<br /> and repair o�the Property. l� Lender e[�cts ta apply the proceeds t� restoration and repa�r, Trus�ar shall repair or
<br /> repla�e the damaged ❑�- des�royed �mpro�ements in a manner safiisfactory to Lender. Lender sha�l, upon
<br /> satisfac�ary proof vf such e�penditure, pay ar reimburse Trustor- �ram �he proceeds �for �he reasanable c�st of
<br /> repair ❑r �esfivration if Trustar is no� in de�aulfi under this ❑eed o� Trust. Any proceeds which ha�e not heen
<br /> dishursed within �84 days af�er �heir receip� and whi�h Lender has no� commit�ed t❑ �he �-epair ar r�s��ration of
<br /> �he P�-operty shall be used first�❑ pay any amount awing to Lender under this �eed of Trus�, then to pay ac�rued
<br /> in�eres�k, and the remainder, if any, shall be app[ied �❑ the principal laafance o�F�he Indeb�edness. l� Lender holds
<br /> any proceeds after payment in full ❑f �he lndebtedness, such proceeds shall be paid �o Trustor as Trustor's
<br /> in�eres�s may appear.
<br /> Cvmpliance with Exis�ing [ndebtedn�ss. ❑uring th� period in which any Exist�ng lndelatedness described belvw is
<br /> in eff�cfi, compliance wi�h the insurance pro�isivns cantained in �he ins�rument e�idencing such Exis�ing
<br /> Indebtedness sha11 constitu�e compliance with �he insuranc� pra�isi�ns under this Deed ❑f Trus�, �❑ �khe e��ent
<br /> compiian�e with the terms of this �3eed of Trust wauld constitute a duplication of insurance requirement. 1� any
<br /> prvGeeds from �he insurance become payab�e on Ioss, �he pro�isions in this Deed o�Trust for di�ision of p�oceeds
<br /> shall apply anly t❑that porfiian of fihe proceeds not payabfe ta�he holder of�he Existing lndebfiedness.
<br /> Trus�or's Repor�vn Insurance. L1pon request❑f Lender, ha►nre�er not mare�han once a y�ar, Trus�or shall �urnish
<br /> t❑ Lender a report on each existing poEEcy ❑�F insurance showing: ��} the name n� the insurer; {�} �he risks
<br /> insured; �3� �he amoun� ❑f �he policy; {4} the property insured, the then current replacement value o� such
<br /> proper�y, and fihe manner o�determining�hafi�a�ue; and {5} the expiration date of the policy, Trustor shall, up�n
<br /> request o�Lender, ha�e an independent appraise�r satisfac�ory�o Lender de�ermine�h�cash Walue replacement cost ,
<br /> ❑�f the Property. �
<br /> LENDER'S EXPEND�TURES. 1�any acfiivn or proceedin� �s cammenced fiha�would materially af�e�t Lende�'s interesfi �n
<br /> �he Prvpe�ty or i#Trus�or#ai[s �❑ comply with any prvWision o�this D�ed �f Trust or any Related Dacuments, including
<br /> bu� no� limited t❑ Trustor's �aifure t❑ camply wEth any ahligatian to maintain Existing Indehtedness in govd standing as
<br /> required befaw, or t�discharge or pay when due any am�unts Trus��r is required�o dss�harge or pay under this Deed o-�
<br /> Trust or any Re�a�ed Dacuments, Lender on Trus�or's beha�f may {but shall not be obligated ta} fiake any acfii�n that
<br /> Lender deems app�vpriafie, including bu� nat limited �o discharging v� paying all taxes, iiens, securi�y interests,
<br /> encumbran�es and other claims, a�k any time le�ied or placed ❑n the Proper�y and paying all C05�5 #vr insuring,
<br /> maintainin� and preserWing �he Property. All such expenditures incurred ❑r paid �y Lender for such purposes w��� �hen
<br /> bear in�kerest at the ra�ke charged under the No�e from the da�� incur�ed or paEd by Lender�o the da�e ❑�F repaymen� 1�y
<br /> Trustor. All such expenses wi�� become a par� ❑f the Indeb�edness and, a� Lender's ❑ption, will {A} be payahie on
<br /> demand; {B� be added �o the balance ❑f the Note and be app�rtianed among and 1ae payal�le with any installment
<br /> paymenfis fiv }�ec�me due during either ��} the�erm a� any applicab�e insurance policyr or ��} the remaining term ❑f
<br /> �he Na�e; or 4C} be �reated as a 1aa11ovn paymen�t wh�ch will be due and payable a��he Note's ma�urity. The ❑eed o�
<br /> Trust alsv will secure payment af these amounts. 5uch right shall be in addition to all other righ�s and remedies t❑
<br /> which Lender may be�n�ti�led upan Default.
<br /> VIlARRANTY; DEFENSE OF T1TLE, The�ollowing pra�isians reEating�❑ ownership o�the Property are a part of this Deed
<br /> o�Trust:
<br /> Title. Trustor warran�s �khat: �ay Trus�or holds goad and marketa�le tit[e of record t❑ the Pr�perfiy in fee simple,
<br /> f�ee and clear of all liens and en�uml�rances other than those set forth in fihe Reaf Praperty descr�p�ion ❑r in the
<br /> Existing ]ndeb�tedness s�cti�n below ❑r in any�itle insuran�e po��cy, ti�le rspor�, ❑r final titie �pin�on issued in fa�o�r
<br /> v#, and accep�ed �y, Lender in connecfiivn with �this �eed ❑�Trust, and �h} Trust�r has the full righ�, power, and
<br /> authori�ty ta execu�e and deli�er�his Deed of Trust ta Lender.
<br /> Defense of Ti�le. Subject �o the ex�eption in the paragraph aboWe, Trustor warrants and wifl fvre�er defend fihe
<br /> �i�le t� the Proper�y against the lawful cfaims ❑�all pgrsons. In the e�en� any ac�ion ❑r prace�ding is cvmmenced
<br /> fihat ques�ions Trus�tor's title ar the interest of Trustee or Lender under-�his �eed ofi Trust,Trus�or shall defend the
<br /> act�on at Trustvr`s expense. Trustor may 1ae the nomina� party in such pro�eeding, but Lender shall he entitled tv
<br /> participa�e in the prviceeding and fio be represented in the proceeding by counse� of Lender's �wn choice, and
<br /> Trust�r wEll deli�er, or�ause�❑ be deli�ered, �❑ Lender such ins�ruments as Lender may reques�from�ime�o time
<br /> to permi�such parti�ipativn.
<br /> Compliance V1Cith Laws. Trus�ar warran�s �khat the Proper�y and Trus�or's use ❑f �he Proper�y �omplies wi�h all
<br /> existing appl�cable laws, �rdinan�es, and regulafiions❑�F go�ernmen�al auth��-ities.
<br /> Survival v� Represen�ativns and V�arrant�es. All representations, warrantEes, and agreements made by Trustor in
<br /> �his Deed ❑�Trust shall sur�i�e the execu�i�n and deli�ery of this �3eed ❑f Trust, sha[[ be continuing in nature, and
<br /> shall remain in�ull�Force and effec�until such time as Trus�ar's Indeb�edness shall he paid in�ull.
<br /> EXESTIN� 1NDEBTE�NESS. The�vll�wing proW�si�ns concerning Existing �nde�tedness are a part o�this Deed v�Trust:
<br /> Exis#ing Lien. The [ien of this Deed of Trus� securing �he lndebtedness may be secvndary and inferior to an
<br /> exis�ing [ien. Trustor expressly co�enan�s and agrees�ko pay, ar see�o the paymen�of, the Existing lndebtedness
<br /> and to preWenfi any defaul�on su�h indeh�edness, any de�auft under�he instruments e�id�ncing such indeb�edness,
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