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2� 1 ��7781
<br /> aEED �F TRUST
<br /> Laan No: 1��3�a 7�1 ��ontirlued� Page 4
<br /> Praperty in an amount sufticient to a�aid application of any cainsu�ance clause, and with a standard martgagee
<br /> clause in fa�vr of Lender. Trustvr shall also procure and maintain campreh�nsive general liability insuranc� in such
<br /> cn�erage amounts as Lender may request with Trustee and Lender being named as additi�nal insureds in such
<br /> liability insurance polici�s. Additi�nally, Trustar shall maintain such ather insuranGe, including hut not limited to
<br /> hazard, busin�ss interruptfon, and boil�r insurance, as Lender may reasanably require, Policies shall be written in
<br /> form, amounts, co�erages and basis reasonabfy acceptable t❑ Lender and issued by a company ❑r companies
<br /> reasonably ac�eptable t� Lender. Trustor, upon request af Lender, will deli�er to Lender fr�m time to time the
<br /> pvlicies or �ertifi�ates of insurance in form satis�actary tv Lender, including st�pulativns that c��erages wil� not be
<br /> canGelled ❑r diminished without at least ten �1 D� days prior written noti�e to Lender. Each insurance poiicy also
<br /> sha�� include an end�rsement pro�iding that co�erage in fa�or❑f Lender will nvt be impaired in any way by any act,
<br /> vmissian or default at Trustar vr any other person. Should th� Real Property be locat�d in an area d�signated by
<br /> the Administrator ❑f the Federa! Emergency Management Agency as a special flood hazard �rea, Trustor a�rees to
<br /> obtain and maintain Fed�ral Fload InsuranCe, if a�ailable, far the full unpaid principal bafance af the Ivan and any
<br /> privr li�ns an the proper�y securing the i�an, up ta the maxEmum policy limits se� under the Nationaf Flo�d
<br /> Insurance Program, or as otherwise required by Lender, and t❑ maintain su�h �nsurance for the term ❑f the loan.
<br /> Application af Prviceeds. Trustor shall promptly nfltify Lender of any loss ❑r damage to the Praperty. L�nder may
<br /> make praof ❑f loss �f Trustor fails ta do so within fifteen ��5� days of the casualty. Whether or nat Lender's
<br /> security is impaired, L�nder may, at L�nder's el��ti�n, recei�e and retain the praceeds af any insurance and apply
<br /> the proc��ds to the redu�tion ❑f the In�ebtedness, payment af any lien a�fecting the Praperty, vr the restorativn
<br /> and repair t�f the Pr�perty. If Lender el�cts to apply the proceeds to restoration and repair, Trustor shall repair ❑r
<br /> replace the damaged or destrvyed �mprv�ements in a manner satisfactory to L�nder. Lender shall, upon
<br /> sat�sfactory proof ❑f such �xpendi�ure, pay or reimburs� Trust�r trom th� praceeds for the reas�nable cost ��
<br /> repair ❑r restarati�n if Trustor is nat in default under this ❑eed of Trust. Any pro�eeds which ha�e not been
<br /> disbursed within �8� days after their receipt and wh�ch Lender has nvt committed to the repair or restoration of
<br /> the Prflperty sha�l be used first t� pay any amount aw'rng to Lender under this D�ed of Trust, then ta pay ac�rued
<br /> interest, and the remainder, if any, shall be applied to the principal balan�e of the Indebtedness. I� Lender ho(ds
<br /> any praceeds after {�ayment �n full af the �ndebtedness, such praceeds shall be paid to Trustor as Trustor's
<br /> interests may appear.
<br /> Compl�ance with Existing Indebtedness. During the period in which any Existing fndebtedness describ�d below is
<br /> in e�fect, comp�rance with the insuran�e pro�isians cantained in the instrument e�idencing such Existing
<br /> fndebtedness shall constitute �vmpliance with the �nsurance prv�isions under this Deed ❑f Trust, ta the extent
<br /> compliance with the terms of this Deed vf Trust wauld c�nstitute a dupli�atian �f insuranc� requirement. If any
<br /> proceeds from the insurance became payable an loss, the prv�isions �n this Deed of Trust fvr di�ision of pr�ceeds
<br /> shall apply❑nly to that pvrtion af the pr�ceeds not payable t� the hoider of the Existing �ndehtedness.
<br /> Trustar's Report on insuranc�. Upan request of Lender, hawe�er not mare than once a year, Trustor shall furnish
<br /> to Lender a report an ea�h existing policy of insuran�e sh�wing: �1� the name v� the insurer; ��� �he risks
<br /> insured; �3� the amount of the po�icy; �4� the property insured, the then current replacement �alue of su�h
<br /> prvperty, and the manner of determining that �alu�; and �5� the expiratian date ❑f the policy. Trust�r shall, upan
<br /> request of Lender, ha�e an independent apprafser satisfa�tory to Lender d�termine the cash �alue rep�acement cast
<br /> vf the Proper�y.
<br /> LENDER'S E�RENDITURES. If any actian ar pro�eeding is commenced that wauld materially affect Lender's interest in
<br /> the Praperty or if Trustar fails to comply with any prv�ision o� th�s Deed of Trust ❑r any Related Dacuments, inGluding
<br /> but not limited ta Trust�r's failure �v �omply with any ❑bligation to maintain Exist�ng Indebtedness in gvvd s�anding as
<br /> required beiow, or to discharge ❑r pay wh�n due any amounts Trustor is required t❑ discharge ar pay under this Deed af
<br /> Trust or any Related DaGuments, Lender on Trustar's behalf may �hut shall nat be ob�igated ta7 take any action that
<br /> Lender deems appropriate, including but not limited to discharging ❑r paying ail taxes, liens, s��urity interests,
<br /> encumbran�es and other claims, at any time le�ied ar placed an the Property and paying alf costs �ar insuring,
<br /> maintaining and preser�ing the Prnperty. All such expend�tures incurred ar paid by Lender fvr su�h purpvses will then
<br /> bear interest at the rate charged under the Nate from the date incurred ❑r paid by Lender to the date af repayment by
<br /> Trustor. All such expenses will bec�me a part of th� Indebtedness and, at Lender's option, will {A� b� payab�e ❑n
<br /> demand; �B� be add�d to the balance ❑f the Not� and he appartianed among and be payable with any ins�allment
<br /> payments to b�c�me due during either ��I� the term o# any applicable insurance pvlicy; or �2� the remaining term af
<br /> the Nate; ar (�} be treated as a ba�fvan payment which will be due and payable at the Note's maturity. Th� Deed of
<br /> Trust also will secure payment of these amounts. Such right shall be in addition ta aR! other right� and remedies to
<br /> which Lender may b��nt�tled upon ❑efault.
<br /> WARRANTY: DEFENSE�F TITLE. The �ollawing pravisions relating ta ❑wne�ship of the P�oper�y are a part❑f this Deed
<br /> vf Trus�:
<br /> Ti#fe. Trustvr warrants that: ta� Trustor holds gaad and marketable title ❑f record to the Praperty in fee simp�e,
<br /> free and clear o� all iiens and encumbrances other than thvse set farth in the Real Proper�y d�scription or in �he
<br /> Existing Indebtedness se�ti�n b�law or in any �itle insurance policy, title report, vr final title opinian issued in fa�or
<br /> nf, and accepted by, Lsnder in cannection with this Deed ❑f Trust, and �b} Trustor has the fufl right, power, and
<br /> autharity t❑exe�ute and deii�er�his Deed ❑f Trust to Lender.
<br /> L�efense �f Title. Subjeet t❑ the exGepti�n in the paragraph aba�e, Trustar warrants and will fore�er defend the
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