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2� 1 ��73�9
<br /> DEED �F TRUST
<br /> �Cot1tl11ued� Pag� 3
<br /> #he Natinnai Flaod �nsur'ance Prograrr�, or as vt�erw�se require� by Lender, and ta main#ain such insurance for the
<br /> term of the Ioan.
<br /> App�Ecation af Pro�eeds. Tr-ustor sha�t promptfy notify Lender fl�F any lass or�d�mage te the Praperty. Lender may
<br /> make proof af loss if Trustor fa�is to d4 so wtthin fift�en �15} days af the casu�l#y. Whether or nvt Lender�s
<br /> security is impai�ed, Lender may, at Lender's e�ection, receiue and retain the prooeeds af any insurance and app�y
<br /> the pro�eeds tn the reduction of the lndebtedness, payment�f any iien affecting the Property, or the res�oration
<br /> and repair vf the Property. 1�Lender elects ta apply the proceeds tv restoratian and repai�, Trustar shall repair ar
<br /> replace the damaged ❑r destr�yed Impro�ements in a manner satisfa�tory to Lender. Lender sha�l, upvn
<br /> satistactory proof of such expenditure, pay ❑r reimburse Trustor from the pr�r.eeds for the reasonable cost of
<br /> repair vr res#�ratian if T�-ustor is not in defau�t under this Deed of Trus#. Any prviceeds wt�ich haWe not �een
<br /> disbursed within '!S� days after their receip# and which Lender has no# cvmmitted to #he repair vr restoration of
<br /> the Property shall be used first ta pay any amount owing tv Lender under th�s Deed af Trust, then to pay a�crued
<br /> int�rest, and the remainder, i� any, shal! be applied tv the principa� balance of the Indebtedness, lf Lender holds
<br /> any prooeeds a�te� pa�rnent in �ull o� #he Indebte�fness, such pror.eeds shall be paid to Trust�r as Trustar's
<br /> intsrests may appear.
<br /> Compfiance with Exist�ng �ndebtedness. ❑uring the period in which any�xtsting Indebtedn�ss described belaw is
<br /> in effect, �ompliance wi#h the insurance provisions contained in the instrument e�idencing such Existing
<br /> �ndebtedness shal� canstitute cvmpliance wi#h the �nsurance prouisions under #his Deed �� Trust, t� the extent
<br /> cvmpliance with the terms af this Deed o�Trust wvu�d canstitute a duplication �f insuran�e requirement. If any
<br /> praceeds from the insurance becoms payable on foss, the pro�isions in this Deed of Trust fvr di�ision of proceeds
<br /> shall apply an�y ta that portion af the proceeds not payable to the hvlder of the Existing Indebtedness.
<br /> LENDER'S ExPEN�ITURES. If Trusto�- fa�ls �A} to keep the Property free of all taxes, fiens, security interests,
<br /> encum4arances, and other claims, �B} to pro�ide any required insurance on the Property, �C} tv make repairs ta the
<br /> Proper-ty or to camp�y with any vbligation ta maintain Existing Indebtedness in goad standing as required k�eiow, then
<br /> Lender may do so. If any act�on or proceed�ng is commenced that wou�d materially affect Lende�'s interests in the
<br /> Property, then Lendsr vn Trustar's behalf may, but is nvt required ta, take any activn that Lender belie�es ta f�e
<br /> apprapr�ate to protect Lenders interests. A�l expenses incurred or paid by Lender far such purposes witl t�►en bear
<br /> interest a# the rate charged under �he Note from the date incurred or paid by Lender to �he date af rep�yment by
<br /> Trustor. AI I such expenses wi f i bevome a par��f the Inde�tedness and, at Lender's aption, wi�I {A} be pa�ab#e nn
<br /> demand; (B} be added to #he balanae of the Nnte and be appartioned among and he payabie with any installment
<br /> payments to �aeoome due during either ('�� #he t�rm af ar��app�icable ins�rance p�oiic}�; or [�� the remain�n�term o�
<br /> the Note; ar [C} be tr�ated as a bafloon payment which wii� be due and payable at the Note's maturity. The De�d vf
<br /> Tr�ust a�so will secure payment of thes�amaunts. The�ights pro�ided#or in this paragraph shali be in additton#a any
<br /> other rights vr any remedies ta which Lend�r may be entit�ed on accaunt of any defauit. Any su�h actian by Lender
<br /> sha�l not be construed�s curing the default so as to bar Lender from any rem�dy that�#otherwise wvuld ha�e had.
<br /> INARRANTY; DEFENSE QF TITLE. The fvllowing pro�isions relating to ownership❑f the P�operty are a part of this Deed
<br /> af Trust:
<br /> Title. Trustar warrants that: �a}TrustQr hofds gaod and marketable title ❑f record to the Property in fee simple,
<br /> free and clear of a�l I+ens and encumbrances other t�ar� those set forth in the Rea! Pr�perty descriptivn or in the
<br /> Existing Indebtedness secti�n below vr in any titie insurance palicy, title report, or fina�tit�e opin�on issued in fa�or
<br /> of, and a�cepte�by, Lender�in cvnnectian with th�s Deed vf Trust, and 4b�Trustor has the ful! right, power, and
<br /> authority#o execute and deliuer#his Dee�of Trust to Lender.
<br /> Defense of Title, Sub�ect to the except�vn in the p�ra�raph abave, Trustvr warrants and wil� �oreuer defend th�
<br /> title #a the Prvperty against the lawful claims of a11 persons. In the e�ent any activn vr proceeding is�ommenced
<br /> that questions Trustor's#itle ar the interest vf 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 sha11 be entitled tv
<br /> participate in the praceeding and to be represented in the proceeding by cvunse� o� Lende�'s awn chai�e, and
<br /> Trustor will deli�er, vr cause to be delivered,ta Lender su�h instruments as Lender may request from time tv time
<br /> t�perm it such participatian.
<br /> Compliance Vlrith Laws. Trustor warrants that the Prc�perty and Trustvr's use a� the Property cvmplies with all
<br /> existing applicable laws, ardinances,and regulatians of�a�ernmental authorities.
<br /> 5urvival of Pramises. All prom+ses, agreemen#s, and statements Trustor has made in th�s Deed af Trust shall
<br /> survi�re the execut�on and deli�ery v�thts De�ed v�Trust, shall be c�ntinuing in nature and shall remain in full�arce
<br /> and effect until such time as Trustor's Indebtedness is paid in full.
<br /> EXISTING INDEBTE�NESS. The fvilow�ng provisions�oncerning Existing fndebtedness ar�a part a�th�s Deed�f Trust:
<br /> Existing Lien. The lien of thts Deed of Trust s��uring the �ndebtedness may be secondary and inf�rtor to an
<br /> existing lien. Trustor expressiy covenants and agrees to pay, ar see to the paym�nt af, fhe Existing indebtedness
<br /> and to pre�ent any deiauit on such indebtedness, any defauft under the instruments e�idencing such indebtedness,
<br /> or any default under any security dvcuments far such indebtedness.
<br /> Nv IlAodification. Trustar shall nQt enter intv any agresment with the hvlder of any mvrtgage, deed of trust, or
<br /> other se�urity agreement which has priarity a�er this Deed vf Trus# by which thaf agreement is madified,
<br /> amend�ci, extended, nr �enewed withaut #he prior written �onsent af Lender. Trustar sha�l neither request nor
<br /> accept any future ad�ances under any such security agreement withaut the pr�or written cvnsent o�i Lender.
<br /> C�NDEAIINATIDN. The fallowing pro�isions relating ta cond�mnation proceedings are a part of th is Deed of 7rust:
<br /> Proceedings. 1f any proceeding in condemnation is filed, Trustor shail prvmptly notify Lender in writing, and
<br /> Tn,rs#or sha!! prarr�pt��take sucf��teps as may b�neoessary tv defend the activn and obtain�he award. Trustor
<br /> rrray be the nominal party in su�h prooeeding, bu�Lend�r shal!be entrtEed ta partic�pate tn the p�oceeding and to be
<br /> repres�nted in the proaeeding by aounsei v� its awn choice, and Trustor wiil deli�er a�cause to be del+�ered to
<br /> Lender such instruments and dvcumentation as may be rer�uested by Lender from time ta time to permit such
<br /> participation.
<br /> Applicativn of Net Prviceeds. !f all ar any part of the Property is condemned by eminent domain praceedings or by
<br /> any proceedin�or purchase in lieu of cQndemnation, Lender may at�ts election require that all or any portion af the
<br /> net praceeds af the award be applied ta the �ndebtedness or th� repair or restarativn vf the Property. The net
<br /> proceeds of the award shal! mean the award after payment of all reasonabie cvsts, expenses, and attarneys'fees
<br /> incuRed by Trustee or Lender in connection with the candemnation.
<br /> I�IIPpS�T1�N DF TAxES, FEES AND CHARGES SY GDVERNMENTAL AUTHDRlTIES. Th� #ollowing pra�isians relating
<br /> to governmenta�taxes,fess and charges are a part of this Deed of Trust:
<br /> Current Taxes, Fees and Charges. lJpan reque�t by Lender, Trustvr shaf! execute such dncurnents in additivn to
<br /> this Deed of Trust and take whatever ather action is requssted by Lende�ta perfect and continue Lender's I�en on
<br /> t�e Rea1 Property. Trustar shall reim�urse Lender for a�l taxes, as described below, together with all expenses
<br /> incurred in recording, perfecting or cantinuing this aeed af Trust, Enc�uding withaut limitatinn al� taxes, fees,
<br /> d�cumentary stamps,and other charges far re�ording c�r registering this Deed of Trust.
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