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2� 1 ��7229
<br /> DEED �F TRUST
<br /> t�antsn��d} Page 3
<br /> the National Flood �nsurance Program, o�-as otherwise r�quired by Lentler, an�to maintain su�h insurance for the
<br /> term of the loan.
<br /> Appllcat�on of Prviceeds. Trustar sha�l prompt�y notify Lender of any�oss ar damage to the F'raperty. Lender may
<br /> make provf af �vss if Trustvr fails tfl d❑ sa w��hin #i€teen �'�5� days of the casualty. 1N��t�er or nflt Lenders
<br /> security is impaired, Lender may, at Lende�'s elec�#�n, recei�e and re�ain the proceeds o�any insurance and apply
<br /> the praceeds to the redu�t�on o�the lndebtedness, payrnent o�any I�en af�ecting the Property, c�r th� restoration
<br /> and repair of the Property. !f Lender elects to app#y the pro�eeds to t-est�ration and repair, Trustvr shall repair or
<br /> replave the dam�aged or des�roy�d �mpro�ements in a manne�` satisfact�ry t� tender. Lender shal�, upvn
<br /> satisfactary proo� of such expenditure, pay or reimburse Trustor frflm the proceeds for #he reasvnabie Gost �f
<br /> rep�ir o� restvratian i'� Trus#�r �s not in defauit under this i7eed afi Trust. Any proceeds which ha�e no# been
<br /> d�sbursed within 18� days aft�r their re�eipt and which Lender has nvt cammitted #o the r�pair❑r restoration of
<br /> the Proper�y sha11 be used first tv pay any amaunt vwing ta Lend�r under this Deed of Trust,then tv pay accrued
<br /> interest, and the remainder, �f any, shal! be app�ied tv the prin�ipa� ba�anve vf�he In�ebtedness. If Lender ho�ds
<br /> any prooeeds afker payment in full of the Indebtedness, such proceeds shall be pa�d ta Trus�or as Trustor's
<br /> interests may appear.
<br /> Campliance with Exls#ing Indebtedness. During the period in which any Existing Indebtedness described below +s
<br /> in effect, cvmpliance with the insurance prv�isions cont��ned in the instrument e�idencing such ExFsting
<br /> Indebtedness shail constitut� compiiance with #he insurance pra�+s+ans under #his Deed v� Trust, to th� exten#
<br /> compliance with the terms a�th�s Deed o�Trust would canstitute a duplica#ian of insurance requirement. If any
<br /> proceedS frvm the insurance be�vme payable vn ivss, the pro�isians in this Deed af T�ust fvr di�ision ❑f prviceeds
<br /> shall apply❑nly tp that partinn of the proceeds nvt payabie#o the holder of the �xisting Indehtedness.
<br /> LEN�3ER'S EXPEN�I�L�RES. I# Tnrstor faiis �A} to kesp the P�roperty free of a1i taxes, liens, security interests,
<br /> encumbranaes, and other claims, {B} tv pro►ride any required insuranae on the Property, (C} to make repairs to the
<br /> P�operty flr to oomply with any obligatian to maintain Existing lndebtedness in gaad s#anding as r�quired below, then
<br /> Lender may do so. l� any actian vr pr�voeeding is commenoed that wou#d materialiy a�fect Lender's in#erests En the
<br /> Property, than Lender on Trustor's hehalf may, but is nat required to, take any action that Lender belie�es to be
<br /> apprapriate to pratec� Lender's interests. Ail expenses incurred or p�id by Lender fvr such purpc�.ses will then hear
<br /> interest at the rate charg�d under the Note frvm the date incurred or paid by Lender to th� date of repayment by
<br /> Trustor. Ali such expenses will beoome a part vf�he lndetatealness and, at Lender's ap��an, wi�l �A} be payab�e on
<br /> demand; (B} be added to th� ba�ance of the Note and be apportioned among and be payable with any installment
<br /> paymen#s tv bevome due during�ither �1} th�term af any app�icable insurar�ve policy; ar t�} t�e re�r�aining term of
<br /> the Note; or �C} be treat�:d as a bailovn payment which wili be dus and payable at the Nvte's maturity. "The Caeed of
<br /> Trust als�o will secure payment of these amounts. The�ights p�-av�ded tvr in th3s paragraph shall be in addit�vn tn any
<br /> � vther rights vr any remedies tv which Lend�r may be entitled on ac�count of any de#au�t. Any such actian by Lender
<br /> shall nat be�onstrued as curing the de�ault so as�o bar��nder frnm any remec�y#hat it ath�rwise w�ul�ha�e had.
<br /> 1NARRANTY;DEFENSE�F TIT4E. The�ollowing provis�ons relating to ownership of the Praperty are a part of this Deed
<br /> of Trust:
<br /> Title. Tr-ustor warrants that: �a}Trustor ho�ds gvvd and marke#ahle title of record to the Property in tee simple,
<br /> free and clear of ali liens and encumkar�nces other�han those set fo�#h in the Reai Property descriptivn or in the
<br /> Existing Indebtedness section belaw vr in any title insurance palicy, title repvrt, or final ti#!e opinian issued in fa�or
<br /> of, and a�cepted by, ��nder in connectivn with fhis []eed❑f Trust, and (b}Trus�or has the full right, pvwer, and
<br /> authvrity to execute and de#i�er this Deed vf Trust tv Lender.
<br /> ae�ense of Tit1e. Sub�ect ta the exception in the paragraph aba�e, Trustar warrants and wil� forever defend the
<br /> title t❑the Property against#he �awfu� claims af ai! persans. !n #h�e�ent any ac#ion o�praceeding is commen�ed
<br /> that quest�ons Trustvr's#itle ar the in#erest of Truste�or Lender under this �eed❑�Trust, Trustor shall defend the
<br /> actian a#Trusto�'s expense. Trustar may be the nomina! party tn such proGeeding, but Lender shall be entitled to
<br /> participate in the procee�ing and to b� represented in the proceeding by counsel of Lender's own ch�iGe, and
<br /> Tnastor wiil delive�, ar cause ta be deii�ered,to Lender such instruments as Lender may request firvm time tv#ime
<br /> to permit such participati�n.
<br /> Camp�iance Vl�ith Laws. Trustvr warrants #hat the Prvperty and Trus�or's use af the Property complies with alI
<br /> existing applicable laws, vrd�nances,and regu�atians of go�ernmental authorities.
<br /> Survi�a! of Rrvmises. Ail pramises, agreements, and statements Trustor has made in this Deed v�Tru�t shall
<br /> sutviWe the executivn and deli�ery vf this Deed v��rus�, shal3 be c�ntinuing in na#ure and sha�l �emain in full far�e
<br /> and effect until such time as Trustor's ind�btedness is paid in full.
<br /> EX�STING�NDEBTEDNESS. The fo��owing prv�isivns c�ncerning Existing indebtedness are a part of this ❑e�d of Trust:
<br /> Existing Lisn. The lien of this �eed of Trust securing #he Indebtedness may be secondary and infertor to an
<br /> existing lien. Trustor expressly co�enants and agrees#o pay, or see to the payment of, ihe Existing Indebtedness
<br /> and�o prevent any de�ault on such indebtedness, any default under the instruments evidencing such indebtedness,
<br /> or any de�auit under any security documents�vr su�h indebtedness.
<br /> Na Modiflcation. Trustnr shall nat enter int� any agreement with the hvlder❑f any mortgage, deed af tru st, or
<br /> other se�urity agreemen� which has priority o�er this Deed af Trust by which tha# agreem�nt is modified,
<br /> amended, extended, ar renewed wi#hout ths prior written cansent vf Lender. Trus#or shall neither request nor
<br /> ac�ept any future ad�ances under any such securEty agreement without the prior written cvnsent of Lender.
<br /> CDN�EMNAT��N. The foll�wing provisivns relat�ng tv c�ndemnation p�oceedings are a pa�of this❑eed o�Trust:
<br /> Proceedings. �f any proceeding in oandemnation is f�ed, Trustar shall prvmptly noti#y Lender in writing, and
<br /> Tnastvr shalf promptly take su�h steps as may be necessary t�defend the action and ab�ain the award. Trust�r
<br /> may be th�naminal Qarty in su�h prvveeding,but Lender sha�l be ent�tted to participat�in the praveecling and to kae
<br /> represented in th� �roceecfing by oounsel of its ov+►n cho+ae, and Trustar will deli�er or cause to be deli�ered to
<br /> �ender such �nstrumer�ts ancf c�acumentatian as may be reques#ed by Lender from tim�to tim� ta permit such
<br /> participation.
<br /> Application o�Net Proceeds. I�all or any part of the Praperty is c�ondermed by eminent dvr�nain prvoe�d�ngs❑r by
<br /> any�ro�eding or pur�ase in lieu af avndemnatic�n,Lender may at its e�ection require that all ar any�arkivn of the
<br /> net prooeecfs of the award be app��ed to the Indebtedness or the repair vr restoration af the Property. The net
<br /> prvoeaeds of�he award shall m�an the awa�d a�t�r payr�ent Qf a!I reas�nab4e costs, expe�s�s,and at#v�neys'�ees
<br /> incurred by Trustee or Lender in connection with the candemnation.
<br /> iMP051Ti�N �]F TA]CES, FEES AND CHARGES BY Gf]VERNMENTAL AUTHURiTIES. The foilowing provisions relating
<br /> to ga�ernmental taxes,fees and charges are�part af this ❑�ed of Trust:
<br /> Current Taxes, Fees and Charges. Upvn request by Lender, Trust+�r shail execute such documents in addition ta
<br /> this Deed of Yrust and take whate�er ather ac#ivn is requested by Lender to perfect and continue Lender's lien on
<br /> the Real Prop�rty. Trustar shall reimhurse Lender fvr all taxes, as described be�ow, to�ether with a�l expenses
<br /> in�urred �n recording, perfecting ar cant�nuing this Deed of Trust, inc�uding without limitation all taxes, fees,
<br /> documen#ary siamps,�nd other charges�ar re�ording or registering this Deed of Trust.
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