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2� 1 ��7277 DEED �F TRUST L�an N�: 'I�1�9972� �Corltirlued� Page 4 fvrm, amvunts, cv��rag�s and basfs reasonably acceptable t❑ Lender and issued �y a campany or companies reasonably accep�able ta Lender. Trustor, upon request of Lender, will deli�er ta Lender �rvm time t❑ time the palicies or cer�ifi�ates of insuranc� in farm satisfactory ta Lender, �ncluding stipulativns that co�erages will not be canGelled vr diminished withaut at least ten �1�y days priar written natice ta Lender. Each insurance policy a�s❑ shall include an endorsement pro�iding that�o�erage in fa�or❑f Lender will not he impaired in any way by any a�t, omission or de�ault af Trustar ar any other pe�son. Shaufd the Rea! Property be iacated in an area des+gnated by the Adminis�ra�or of the F�deral Emergen�y Management Agency as a spe�ial flood hazard area, Trustor agre�s to ❑btain and maintain Federal Flaod Insurance, if a�ailable, for the �ull unpaid prin�ipal �alan�e of the Ioan and any pria� liens an th� property securing the �aan, up to �he max�mum palicy fimits set under the Nat�vna� Fl�od Insurance Program, or as otherwise r�quired by Lender, and to maintain su�h insurance for the term of the ivan. Appiicativn ❑f Praceeds. Trustor �hall promptly natify Lender of any lvss ❑r damage t❑ the Pr�perty. Lend�r may make proof ❑f loss �# Tsust�r fas(s tfl do sa within fifteen t�51 days o� the casualty. 1111hether o� not Lend�r's se�urity is impaired, Lsnder may, at Lender's ei�ctian, recei�e and r�tain the proc�eds af any insurance and apply the pro�e�ds to the reduction of the Indebtedness, payment ot any lien a��ecting the Property, or the restoration and repair ot the Property. I� Lender elects �o appiy the pro�eeds t� restoration and repair, Trustor shall repair or replace the damaged or destroyed Impro�ements in a manner satistactory t� Lender. Lender shall, upan satisfactory praaf vf such �xp�nditur�, �ay or r�imburse Trust�r from the prviceeds tor the reasonable cast �f �epair or restora�ion if Trustor is not in default under this Deed af Trust. Any proceeds which ha�e nat been disbursed within 180 days after their receipt and which L�nder has nvt �vmmitted tv the repair or restoration of the Property shaf� b� used first t❑ pay any amount owing to Lender under this Deed o�Trust, then to pay accrued interest, and the remainder, i� any, sha�� be applied to the principal balance of the Indeb�edn�ss. If Lender holds any pra�eeds after payment in full of the Indebtedness, such praceeds shaii be paid t❑ Trustor as Trustor's interests may appear. Trustor's Report on Insurance. Upan request at Lender, hawever n�t more than �nce a y�ar, Trustar shall �urnish to Lender a repvrt on �ach existing po�icy vf insurance shawing: ��y the name of the insurer; (�� the risks insur�d; {3) th� amount of the pvlicy; �4} the praperty insured, the then current repiacement �alue of such proper�y, and the manner ❑f determining that �alue; and �5� the expiratian date of the policy. Trustor shall, upan request of Lender, ha�e an independent appraiser satisfactQry to Lender de#ermine the cash �alue replacement cvs� of the Property. LENDER'S E�CpENDITURES. !f any action ar p�oceedin� is �ommenced that wauld materially affect Lender's interest in the Prvperty ar if Trustor �ails tv camply with any pro�ision ❑f this ❑e�d ❑f Trust or any Rela�ed ❑ocuments, inciuding but n�t limited tn Trustor's failur� to discharg� or pay wh�n due any amounts Trustar is required ta discharge or pay under this ❑eed af Trust or any Related Documents, Lender an Trustor's beha�� may �but shall not be obfigated to} take any action that Lender deems apprapriate, including hut not limit�ed to d�scharging �r paying all taxes, iiens, security int�rests, en�umbrances and �ther �laims� at any time le�ied ar placed an the Property and paying all costs far insuring, maintaining and preser�ing the Prc�perty. All su�h expenditures incurred or paid by Lender for such purpvses will then b�ar int�rest at the rate charged und�r the Note trom the date incurred or paid by Lender ta the date of repayment by Trus��r. AI� such expenses will become a part of the Indeh�edness and, at Lender's option, w�1E �A} be payabie ❑n demand; �B� be added ta the halanc� vf the No�e and be appvrtioned amang and be payable with any installment payments to became due dur�ng either �'�y the term of any applicable insurance p�li�y; or �27 the remaining term of the Note; or �Cy be treated as a balloon payment which will be due and payable at th� Nate's maturity, The ❑eed af Trust a�sa will se�ure payment of these amvunts. Such right shall be in additi�n tv all �ther rights and r�medies to which Lender may be entitled upon Default. VIIARRANTY; DEFENSE C]F TITLE. The fol�awing pro�isions relating to ownership of the Property are a part af this D�ed ❑f Trust: Title. Trustor warrants that: �a} Trustor holds gaod and marketable title af reGord �t� the Property in fee simple, free and clear of a�� liens and �ncumbran�es ather than th�se set farth in th� R�a! Property description or in any titl� insurance policy, tit�e repart, or final titfe ❑pinion issued in fa�vr of, and accepted by, Lendet in cvnnection w'rth this Deed vf Trust, and �by Trustar has the full righ#, pow�r, and authvrity ta exe�ute and deli�er this aeed of Trust to Lender. Defense of Title. Sub�ect to the exceptivn in the paragraph aha�e, Trustar warrants and will �ore�er defend the title t❑ the Praperty against the lawful c�aims af all persons. In the e�ent any action ❑r proceeding is commenced that questivns �rustor's title or the inte�est ofi Trustee �r Lender under this Deed nf Trusi, Trustor shall defend the action at Trustor's expense. Trustor may be the n�minal party in such proceeding, hu� Lender shal� be entitl�d t❑ pariicipate in the proceeding and to be �epresented in th� prviceeding by caunsel of Lend�r'S own cho�ce, and Trustar wiif de�i�er, ar cause ta be d�l��ered, ta LendQr such instruments as Lender may request from �ime to time to permit such parti�ipation. Complian�e V11ith Laws. Trustvr warrants that the Praperty and Trustor's use ❑f the Property complies with ali existing appli�a�l� lavus, ordinances, and r�gu�ations of gv�ernmental authvrities. Sur�i�al vf Representations and Warranties. All representatians, warranties, and agreements made hy Trustar in this Deed of Trust shall sur�i�e the execution and deli�ery�f this Deed af Trust, shall be continuing in nature, and shall remain in full force and effect until such t�me as Borrower's Indebtedness shall be paid in full.