2� 1 ��75�8
<br /> �3EE �F T'RLJ�T
<br /> Laan No: "t�13(]�1�� ����t�rlu�d� Page 4
<br /> make proa� vf lass if Trustor �ails ta dv sv within �ifteen {15} days vf the Casualfiy. V�Ihe�her or nat Lender's
<br /> s��urity is impaired, Lender may, at Lender's e[ectian, recei�e and r�#ain �he praceeds a�F any insuranc� and apply
<br /> the proceeds ta fihe reductian o� fihe lnde��edn�ss, paym�n� ❑� any lien afif�cting the Prvperty, ar the restvra�ion
<br /> and repair a#�he Proper�y. If Lender eiec�s �v apply the praceeds ta resfiaration and repair, Trustor shall repair ar
<br /> r�place �h� damaged or des�royed imprav�ments in a manner sa�isfactary ta Lender. Lender shall; upvn
<br /> satisfac�ory proa� �f such �xpendi�ure, pay ar reimk�urse Trustor �rom �he proceeds f�r �he reasonal�fe cost o�
<br /> repair ar restora�ion if Trustar i� na� in de�au�t under �his C]eed ❑f Trust. Any prv�eeds which have not been
<br /> disbursed vuithin 18� days af�er �heir receipt and which Lender has not cammi�ted ta th� repair or restv�-ation o�
<br /> t�e Pr�perty shall be u�sed firs�to pay any amaunt owing to Lende�- under�his 17eed vf Trust, th�n ta pay accrued
<br /> �nterest, and �he rema'rnder, i� an�, shall be appli�d to the principal balance af the [nde��edness. [f Lender hvlds
<br /> any prviceeds after paymer�t in fulf o�F the lndebt�dness, such proceeds shall be paid tv Trus�or as Trustor`s
<br /> interes�s may appear.
<br /> Trus�nr's Repvrt on insurance. Upvn �equest of Lend�r, ht�we�er nat more than on�e a y�ar, Trustor shafl furnish
<br /> tv Lender a rep�rt on each ex�s�ing palicy ❑f insuranc� show�ng: ��} the name af the insurer; 42� the r`rsks
<br /> insured; =3} the amaunt v� the polic�; �4� th� proper#y insured� th� then current replacement �alue o� such
<br /> property, and the manner o�de�ermining that Walue; and �5� t�e �xpiration date of�h� pvlicy. Trus�or shall, upan
<br /> request of Lender, ha�e an independent appraiser satis�actvey�a Lender determine th� cash �a[ue replacement�ost
<br /> ❑��he Pr�perty=
<br /> LEIVDER'S E�PENDITURES. If any acti�n or prace�d�ng is cammenced tha� wvuld material[y affe�t Lender's interest in
<br /> the Praper�y ar i�f Trustar �ails to comply wi�h any pro��sian of this Deed vf Trust or any Re[ated D�cuments, including
<br /> but n�t limited to Trus��r's �ailur� ta �ischarge or pay when due any amvunts Trustor is required t❑ discharg� a� pay
<br /> under this Deed af Trus�❑r any Rel�fed ❑acuments, Lender an Trustvr"s beha�f may �but shal! nat be �bligated toi take
<br /> any ac�ion that Lender deems apprvpria�e, �nGl�ding but na� [imited �o discharging or paying aIl taxes, liens, securi�y
<br /> interests� encumbrances and oth�r �laims, at any time 1e�ied or pla�ed on the Property and paying al[ cvsts for insuring,
<br /> maintaining and preserWing �he Praperty. All such expenditures incurr�d or paid by Lender fvr �uch purpases vuilf th�n
<br /> bear in�erest a�the rate charged under �he Nate frvm the date incurred vr paid hy Lender tv the date ❑�f repayment by
<br /> Trus�vr, All such expenses will be�ame a par� of the lndebtedness and, at Lender"s ❑ption, wi{i �A� be payabfe vn
<br /> d�mand; �B} lae added �ta the balan�e af �he No�e and be appvrt�vned am�ng and be payahle with any ins�allment
<br /> paymen�ks #o hecam� due during either �1� the term of any applica�le insu�ance p�licy; or ��} �h� remaining t�rm n�
<br /> the N�te; �r {�} be trea�ed as a ballaan payment whi�h wil! be due and payable at�he Note's maturity. The Deed v�
<br /> Trust als❑ wiil secure paymen� of these amaunts, Such right shafl be in addi�ion ta all other rights and remedies tv
<br /> which L�nder may�e entifiled upon ❑efauft�
<br /> 11l�ARRAiVTY; DEFENSE�F T[TLE. The��flQwing pr�visions re[a�ing�o ownership of the Praperty are a par�o�this Deed
<br /> a�Trus�:
<br /> Title. Trustvr warrants tha�: =a� Trustor halds gaod and marlc�tahle title of re�ord to the Proper#y in fee simple,
<br /> €ree and clear vf a�! liens and en�umbran�es v�her than �h�s� �et �arth in �he Real Pr�per�y descriptivn or in any
<br /> �i��e insurance policy, �itle repart, ar �in�l title apinivn issu�d in fa�or af, and accepted by, Lender in cannectian
<br /> �ith this ❑eed ❑f T�us�t� an�d �b� T�ustnr has the fiufl right, power, �nd authority to exe�u�e and deli�er this [7eed ��
<br /> T�ust to Lender.
<br /> De�ense a� Title. Subje���� �he �xceptian in the paragraph abo�e, Trustvr warrants and wil( �ore�er d��end the
<br /> title �o �he Prop�rty a�ainst th� law�u! Glaims ❑f alt persons. ln the e�ent any action ar praceeding is cvmmenced
<br /> �hat que�tivns Trustor's ti�le ar#he interes�afi Trus�ee or Lender t�nder this D�ed vf Trus�, Trustor shal[ defend the
<br /> actian at Trus�vr's expense. Trustor may be the nominaC party in such praceeding, bu� Lender shall be en�itled to
<br /> par��cipate in the prviceeding and to b� represen��d in �the proceeding by �ounsel ❑� �.ender's own choice, and
<br /> Trus�ar will deli�er, ❑r cause tv be deli�ered, to Lender such instruments as Lender may reques�[from time to time
<br /> �v permit such participatian.
<br /> �ompliance �IVi#h L�►rvs. Trusto� warrants that �he Prvperty and Trus�ar's use o# �he Praperty c�mplies wi�h all
<br /> existing appli�able laws, c�rdinances, and regula�ions o�ga�ernmen�al au�hori�ies.
<br /> Survi�ral of Represanta�ivns and �Varranties. A[[ represen�a�i�ns, warranties, and agreemen�s made by Trusfior in
<br /> this Deed vf Trust shall surviWe�he �xecutinn and deli�ery a��his ❑eed of Trust, �hall be cont�nuing in nature, and
<br /> shall rernain in full forc� and ���ecfi un�il su�h time as�`rust�r`s lndebtedn�ss sha[I he paid in full.
<br /> CUC�DEii�lNATI�iV. The��llowing pro�isions rela�ing t❑ cor�c�emnation prflceedings are a part of this �3eed of Trust:
<br /> Prac�edings. ��f any praceeding in cvnd�mna'tian i� �iled, Trust�r shall prvmptly nat�fy Le�der in writing. and
<br /> Trus��r shall promp�ly take such �teps as ma� �e necessary tv defend the ac�ion and ab�ain �he award. Trus�ar
<br /> may be the narnir�a� �arty in such pr�ceeding, �ut Lender shall �e enti't[ed to participa�� in �khe praceeding and tv be
<br /> represented �n the prvc��ding hy �ounsel of its vvvn �hoice, and Trust�r wi11 deli�er ar cause to be delivered ta
<br /> Lender such instrumen�s and dacumentatian as may he requested by Lender from time to time �� permi� such
<br /> participatior�.
<br /> Applicatian v�Ne�Pr�ceeds, lf all ❑r any �art v�the Prvperty is condemned by eminen�d�main praceedin�s �r by
<br /> any pra�eedinr� or pur�hase in lieu��cvndemna�tivn, Lender may at its election require that all ar any pvrtion�f the
<br /> ne� prviceeds v� the av►►�rd be applied tv �he lndeb�edness ar th� rep�ir or restoratian af the Prnper�ty. The net
<br /> proc�eds af�the avvard sha�� mean the award afit�r paymen� of all reasona��e c�s�s, exp�nses. and a��orneys` �ees
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