|
2� 1 ��72�3
<br /> �]��a �� �'RI�ST
<br /> {����Int�ed} Page 3
<br /> is filed as a result of nonpaymen�, Trustar shalE wilhin fi���en �7 5} da�s a�#er the iien arises or� �� � �I�1'l 15 f�Ed.
<br /> wifhir� �fteen �'15� d�y�atter Trustor�7�s notice of t�e riling, secure tne discharc�� of the lien, ❑r if request�d by
<br /> �ender,deposit vvith Lender��sh or a sufficien�corporake s�rety bond or oti�er s�cu�'ity satisfacfory to Lender i�an
<br /> arnount suffcien� fo disc��arge fhe [ien p[us any costs anti al�orneys' fees, ar o�her charges that cvufd accrue as a
<br /> res�lt of a foreclosure or safe und�r th�lien. �n�tny car�tesl, Trustor shall d�fer�d�tself�nd Lender and shail satisfy
<br /> any adverse ju�dgm�nE before�nfarcernent against the Prop�rty. Trus�or s�iall name�ende�as an additional ob[igee
<br /> �nder any surety bvnd turnished in the c�nlest Pro��er�ings.
<br /> �vidence of Payment. Trt�star shal[ upvn dernand furnis� lv �ender satisf2�ctory evidence af payment of the taxes
<br /> or assEssments ancf shall aufhoriz�the a�propriate governmenla[ official fo de�iver t❑ Ler�d�r at any#ime a written
<br /> s�atement of the taxes and assessments against the Propert}r.
<br /> Notice af Canstrucfi�n. �'rus�or shall notify Lenci�r a�t least fif�e�:n {�5� d�ys before ar�y�vork is comm�nced, any
<br /> sen�ices are furnished,or��y rrr�terials are supplied to the �roperly, if an}r Enech ani�'s I ien, materia�men's I ier�, or
<br /> a�her[ien could be �ss�rted Qn ac�ount of fE�e work� S�N1C�S, or materiais. �'�ustor v�ill u�on request of Lender
<br /> furnish to Lender acivan�e assUrances salis�a�fary lo Len�ier tl7 at 7r��stor can and vv ill pa�r the cost of suc�
<br /> impra�ements.
<br /> PROPERTY DA�JAG� IN SU FtANC E. T��e �o ilow ing provisio��s rela ting ta in suring f he Proper��r are a p�rt pf th is Deed oE
<br /> Yru�t.
<br /> Maintenance of Insurance. Trustor sfiall pracure and r�aintai� po�icies af �re insurance vvith standa�rd extended
<br /> coverage endorsements an a r�placement basis for i�e full insurable valE�e coverirtg a[I lmproWemEnts on the Real
<br /> PropeKy in �n amoun# sufficic�n! io avoicf application of any�oinsuranee clause, and with a stanc�arci mortga�ee
<br /> cfause in favo�❑f�en�#er. Trustor shall also pTocufe an�rnaint�in cornpr�hensive gener��li2�b�lity insuranc�in suc�
<br /> coverage �maur�ts as I�en�ter rt�t�}r ��quest with Trustee and Lendsr being named �s addifional insureds in suc�t
<br /> lia�ilaty ir�surance po�icies. Acfditior��lly, Trustor shaEl m�in�air� such other insuranc�, inc�ud�ng but nat limiteti to
<br /> hazard, business interr�pEifln, an�! bviler insurance, as E.ender may reasor��b[y require. Policies shall be written in
<br /> forrr�, amounts, cvverages and basis reasonably ac�ePfable to Lender and issued by a campany or companies
<br /> reasonab[y accep�a�le �o Lender. Trustor, upon re�u�st of Lender, will defiver tv l�ender frorn time to time ��e
<br /> policies or certificates�f insurance in form satisfsctory to L�nder, including s�ipulations�hat cvverages�rill r�ot be
<br /> cancelle�l or diminished wilhaut ai feas�fhirEy�3�7 cfays prior tirvritten noiice Eo LendeT. Each insura�ce policy�Isa
<br /> shaEl include�n en�orsetnent P�v�riding that cover�ge in f�vor of Lender will n�t be irnpaired in any�nray by�ny act*
<br /> omission or defa�ult ot Tr+�stor or any�lher person. Shou�d the Rea[ PrapeMy be located in an�rea desi�nated by
<br /> the Administrator of�ne Federal Em�rgency lVlanagernent Ac��ncy as a speciaf fio�d hazard area,�'rustor agrees tv
<br /> ob#ain and m�i ntai n Fec3�ra1 F�ood I nsurance, if a�ailable, for the �uil unpaici princip�[ b�lance of th�loan �nd a�y
<br /> prior liens on the praperty securin� lh� loan, up to the maximum ��[icy lirr�its set under ti�e Nativnal Flvvd
<br /> [nsurance Pro�ra m,or as otherwise r�quired by Lender,and to main tain such insura nce for'the��rm of the loa n.
<br /> App Iicatio n of Praceeds. Trustor sf�af I promptly notif}r �ender of any Ioss or�amage t� the Property. Lender may
<br /> make pr�of of Ioss if Trustor f�ils ta do so v��i�h i n fifleen �"��y days of tl�e c�su��ky. V1lhether or not Lender's
<br /> secu rity is impairEd, �ender may, at Lend er's elect�on, receiv� �nd r�rain �f�e proceeds o��n�r insurance and apply
<br /> the pra�eeds to the r�duction of tiic l�deiuf��rless, pay�n�n�of �n�r [ien af�ec��nc� Ehe Prop�rty, or the �estaration
<br /> and repair of the Proper�y. �f Lender,�lects t� apE�[y th� �ro�eeds to res�oration and rep�ir, Trustor shaEl repai�ar
<br /> repface the dama��c� ar d��[ray��f Irnpra�ernents in a n��nner saUsfactan,r to L�nder. �.ender �h�[I, upan
<br /> s�tisf2�ctor'}r prvof o� su�h ex�endilure, pay or reimbEirse T�usEor irdr�� tf�� proceeds for fhe reasonable cast of
<br /> r�pair or resiorati�n if Truslar is na� i n defaul l under this Deed a f T�u st. Any proceeds v+�hich have n vt been
<br /> disbursed within '18a days after� their r��eipl and �rvhicF� Lend�r has not commifte�l to the rep�ir or restoratio� of
<br /> tF�e Property shall be used frst to pay any amo�ini o�+ri�g to Lender under this De�cf af Trust, then ta p�y accru�d
<br /> ir�terest, and t�e r�mainder. if any, shall be �pplied lo tne principa! balance oF l�e Indebtedness. If Lender ho[ds
<br /> any proceeds'a fter paymen� in fu I� o f th� I nclebtedness� such proceeds shall be p��d to Trustvr as Trustor's
<br /> interests ma�apPear.
<br /> Trustor's Repart o� Ins�rance. Up�r�request of Lender, ��av�re�rer not mvre l�ian vnce �ye�r,'�rustor shal[furnish
<br /> to Lender a �eporE an eaclt exislin� policy of insuranc� s�lo�r�ng: �'l� ti�e n�me of the insurer; �2} the risks
<br /> insured; �3� the arnount a� t�le policy; ��) the pro��rty insuced, lhe t�1en current replacement value of sucl�
<br /> prvp�rty,and the msnner of determining lh�t v��u�;�nd ��} fhe expira�ian dale of the �olicy. Trustor shal[, upvn
<br /> r�c{uvst of Lvndar, havo�n indo�c�ndont�ppr�is�r satisf�clary t� L�ndor datormin4 tho cas���alur�r¢placarneni cost
<br /> of th e Properfy.
<br /> �.�N1]ER'S EXp�NbITIJR�S. If�ny�ction or proc��ding is camrnenced fhak would rzl�ter��l�y�ffect Lende�s interest in
<br /> fhe property or if�"rustor faifs to cor�p[y wiih �ny proWision af lhi� D�d o�Trust nr�ny Relat�d Documer�t�, including
<br /> but not limited to Trustor's fai�ure to discharge or pay when clue�ny amaunls 7rustor is required t� discharg�or�aay
<br /> under this Deed of Trust ar any RelaEed Docurr�nts. Lenr��r or�Trustor's beh�lf m��r(but sh�ll not b�obligated to)taKe
<br /> any action that Lencter deems ���ropriake, includir�g but nvt lirnited t� disch�rging Qr paying �[I t2�xes, liens, security
<br /> interes�s, �ncumf�rances�nd❑�her Gl�i ms,�t�ny Eime I�Wied or pl�red pn the F�roperty��d p�yin�al I cos�s for insu�i ng,
<br /> Tnaintaining artd�res�rving tF�e Proper�y. All such ex�endilures incurred or paic�by Lender tar suc�pur�a�es rrrrill t�en
<br /> �e�r interest aE lf�e rate charged unci�:r ii�� �ot� fron� li��da�e incurre�o�-p�ic�by�e�der fo the dat�of r�pa�ment by
<br /> Trustor. �►II suc� �xpens�s v�+ill b�came�p�rt �� th� ir�ti�bteclrt�ss�r�d, �t Lend��s opt�on, wil� �A7 be paya�[e an
<br /> dem�nd; (B� b� added io the bal�noe o� �il� Note and be �ppvrtivnec� amQng and be �ayable wi�F� �ny installment
<br /> payments to b�cort�du�d�rinc�e�t�ier t'i) t�e tern�of any ap��ic�,b�e insur�nce�olicy; �r t�� the remainin�term af
<br /> the Nvte; or �C} be t�eate� �s�bal loor�p�y�nsnt w��icfi will be due�nd p�yable�t the �ate'�m�tu rity. 'T'he be�ed of
<br /> Trust also will secur� pa�ym�n� of these �a�iot�nts. Suc� ri�ht sha1E be ir� addition to af[ aEher righis and remedies to
<br /> v�+hich Lender may be entitl�d upon Default.
<br /> 1�VARRANTY; D�FE�]SE OF TITLE, Th�[ol�v�vinc� pro�ision�refatin� tv vwnerst�lp of ll�e Prv�r�rty are a parz oi lMis Deed
<br /> o f Trttst:
<br /> TItie. Trustor wa�rrants that: (a)'�rustor �ofds goad and marKetable titl� of r�cord to ��� Prop�rty in �e� simple�
<br /> free and clear of a[! l�ens and encumbrances a#her tflan those set forth in itle Real Praperty ci�scriptiori dr in any
<br /> titl e �nsurance po[icy, titf e report, or tinal titl� opi n io� issued ir� �aWor v f, and acc�pted �y, L�r�cier in connection
<br /> wEth this�eed of Trusl,�nd tby�'rustor E�as fft�fL,l[r�gl�E,powerF and aufhority to execute an�de�iver this peed vf
<br /> Trust to Lender.
<br /> Defense vf Title. S ubj ect io lhe exceplion in �I�� �ar�gr�pE� ak�ov�, '�rusfor�va rranls and wi(] forever defend th e
<br /> titl e to the Prop�rty against the latinr ful �]aims o f a�l persans. f n i1�e e�enl any�cEi on or proceeding�s commenced
<br /> that�ues�ians Trusto�'s tille ar�1�e interes�o�Yrus�ee or Lender under tF�is Deec�af�"rust,Trustor sha[I defend tf�e
<br /> s�tivr� at Trustor's expense. Trus�or may be tE�e nor�ina! party ir� such proceedi�g, but Lender sha[I be entit[ed ko
<br /> par�ici�ate in ��e prviceedir�g and to be re�res�nted in th� proceedinc� by counsel �f Lender's otiWn choice, an�
<br /> Trustor�ill deliver, or cause to be de�Ev�red, to �ender suc�� ins�ruments �s Lender may request frorn tirne to time
<br /> �o perrnit such�arti cipa tion.
<br /> �omplia�ce U�litE� Laws. rrustor �nrarrants tEia[ EI�e Pra�er�y an�f Trus�or's us� v� the Prop�rty complies vvit� al�
<br /> existing appl���bEe[aws,ardin�nces,and regE�lalions of c�o�rernmental autharities.
<br /> Survival vf�e�res ent�tions and Il�a rr�n ties. A�! repr�s�nt�![ons. w�rr�niEes, and �greements ma�e by �rustor i n
<br /> this Deed o�Trust$hall s�rrvive tr�e�xecution ar�d de�ivery�f tr��s�eed af Tfust,sha[I be cantinuin� ir�nature.and
<br />
|