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2� 1 ��8�52
<br /> DEEI� �F 1'�LJ�T'
<br /> Laan Na: 'I�'I 3U�5a� ����ttir�ued� Page 4
<br /> securi�y �s impaired, Lender may, at Lender's election, re�ei�e and retain �he pr�ceeds of any insurance and apply
<br /> the proceeds �o �he reduc�ivn af the Ind�btedness, payment of any lien af�e�ting �he Praper�y, ar �he res��rativn
<br /> and repair �f the Prvper�y. I� Ler�d�r elects to apply the pra�eeds to restoratian and re�air, Trustor sha11 repair ar
<br /> replace the damaged or destrQyed lmpro�ements in a manner sa�isfactor� tv Lender. Lender shal�, upon
<br /> sa�isfa���ry praa� af such expenditure, pay vr re�mburse Trus�or from t�� praceeds �or th� reasonable cost of
<br /> repair ar r�s�ara�ivn if Trustor is not in de�aul� �nder this ❑eed a� Trust. Any pr�c�eds v�rhich have not been
<br /> dis�ursed wi�hin �8U days af��r their receip� and which Lender has not commifited t❑ �he repair ar restora�ion of
<br /> fh� Praper�y �hall �e u�ed first ta pay any arnoun� owing to Lender under�his De�d v�Trustf then �o pay accrue�
<br /> in��res�, and �he rema�nder, i� any, shall b� applied tv the principal balance v� �he lndeb��dness. If Lender hv[ds
<br /> any praceeds a�fer payment in fuC[ of the Indebtedn�ss, such praceeds shall be paid ta Trustor as Trustor's
<br /> �n�er�s�s may appear.
<br /> Trus�vr's Repvrt�n �nsurance. Upvr� r�quest af Lender, how��er not mor� �han ance a year, T�ust�r shall furnish
<br /> to Lend�r a r�por# an each existing policy of insuran�e shawing: t 1} the nam� of the insurer; �2� �he risks
<br /> insured; �3� the am�u�rt �f fih� po[icy; �4� the propert� insured, the th�n eurren� replac�rn�n� �alue of such
<br /> praperty. and �he �nanner o�de�ermining �ha�t value; and �5� t�e �xpiration dat� af the policy. T�us�or sha1�, upvn
<br /> request of Len�er, have an independen�apprais�r satisfactory�❑ Lender determine 1�he cash �alue repla�emenfi cast
<br /> af�he Prvperty.
<br /> LEIVI3ER'S E�PEtVD1TURE5. If any a��ion vr prv�eeding is cammenced �hat wauld rr�aterially affect L�nder's interest in
<br /> the Proper�y �r i�Trustar �ails �v cvmply with any prv�ision af this Deed af Trust vr any Related ❑vcumen�s, inc�uding
<br /> but na� limited �a Trus�vr�s faiiure to discharge ❑r pay when due any amoun�s Trus�or is required tv discharge or pay
<br /> und�r this De�d ❑f Trust vr any Re�at�d ❑ocumen�s, Lender on Trustor's beha��f may �bu�t shall nat be ab�iga�ed tn� take
<br /> any a�tivn tha� Lender de�ms apprapriate, including bu� n�� 1�mi��d ta discharging or pay�ng all �axes, iiens, security
<br /> interests, encumbranc�s and v�her c[aims, at any�ime levied or placed on the Proper�y and paying all cas�s far insuring, .
<br /> mainta�ning and preserving the Pr�perty. Al[ such expenditures incurred or paid by Lender for su�h purpases will then
<br /> bear interes� �t�he rate �harged und�r the No�e �rvm the date incurred ar paid �y L�nder �o the da�� of repayment by
<br /> Trustor. A[� such �xpen�es wili beeame a �art of �he [nde�t�dness and, at L�nde�'s optian, wilf �A� be payable vn
<br /> demand; �B} �e a�ded �o �he balance �� �.he Na�e and be apportivned amang and be payab�e with any ins�allmen�
<br /> payrnents t� bec�me du� du�ing either ��� the term v� any app�icable in�uranc� po�icy; vr �2} �he remaining term of
<br /> the Note; or �C� �e �rea�ed as a balloon paym�nt whi�h vvill be du� and payak�le at the Note's maturity. The deed of
<br /> Trust a[so �rvi�l se�ure paym�nt of thes� amoun�s: Su�h right shall be in additian �o al� ��her r�gh�s and remedies tv
<br /> which �.ender may be en�if�ed upvn Qef�ult.
<br /> WARFtAIVTY; i]EFENSE❑F TITLE. The fa�la�►ving provisions rela�in�tv ownership❑f the Praperty are a part of this Deed
<br /> o�Trus�:
<br /> Tit�e. Trus�ar warran�s that: �a� Tr-us�or h�lds gQad and mark�tab[e �itfe of record to the Praperty �n fee simple,
<br /> �ree and c��ar o� all liens and en�umbranG�s vther �han thase set for�h in �he Real Praper�y descrip�ian vr in any
<br /> title insurance pvlicy� �I��� repar�, �r ��nal �i�le opinian issu�d in fav�r a�, and accepted hy, Lender in c�nnec�ion
<br /> r�vifih this Deed �f Trust, and 4b� Trustor has the�ull right, pawer, and au�hvr��y tv execu�e and d�[i�er this Deed of
<br /> Trus��o Lender..
<br /> Defens� vf Titl�. Sub�ec� t❑ ��e exc�p��on in t�e paragraph above, Trus�ar warrants and will forever de�end the
<br /> tit�e to the Proper�y �gainst the [aw-F�I claims o� a[I person�. ln the e�en� �ny action v� prviceeding is comm�nced
<br /> that ques�ivns TruSt�r`s ti�[� vr the in�eres�❑�Trustee ar Lender under this �3eed af Trust, Trustar shal� defend the
<br /> action a�Trustor's expense, Trustor may be �he namina� par�y in such praceeding, but Lender shal[ �e ent�tled �o
<br /> part�c�pate in the pr�ceeding and �❑ �e re��esen�ed in th� prviceeding by Gounse[ ❑f Lender's awn chaice, and
<br /> Trus�or vuil� deli��r, or�ause ta be deli�ered, fia Lender su�h �nstruments as Lender may request from �im�to �ime
<br /> tv permi�t su�h �ar�icipatian:
<br /> �ompC`rance 1�11'ith La►n�s. Trustar warran�s �ha� �khe Property and Trustvr's use of the Praperty complies wi�h all
<br /> existing applicab�e laws, ardina�ces, and re�uCatians of go�ernmen�al authoriti�s.
<br /> Surv�val nf Representativns and '�Jarr�n�ies. All repres�ntat�ans, warranti�s, and agreerr-ien�s made by Trust�� in
<br /> this Deed of Trust shall sur�i�e�he executian and d�(iv�ry ofi this Deed af Trusx, shall b� continuing in natu�e, and
<br /> shall remain in�ul� fvrce and �ffec�unti( such time as Trus�vr's Indeb�edness shal( be paid �n full.
<br /> CqN�EIVINATl�N. The�ollov►�ing pravisions re�ating t� condemnatian proc�edin�s are a par�a�this Deed af Trust:
<br /> Prviceedings. [f any pr�ceeding in condemnatipn �s filed, Trus�or shal[ pr�mptly noti�y Lend�r in writing, and
<br /> Trustar shal[ �rompt�y take �uch s�eps as rr�ay be necessary ta defend �he ac�ivn and ❑h�ain the award. Trust�r
<br /> may be�he nominal party in su�h praceeding, but Lender shall be entit�ed tv par��cipat� in the praceeding and tv be
<br /> represented in the proceeding by cnunse[ vf its own chaice, and Trus�or will de[iver or �ause �to be deli�ered to
<br /> Lender such instruments and dacumentation as may be requested by Lender fram tim� �� �ime fo permit such
<br /> par�i�ipa�ion.
<br /> Appli�ation o�[Vet Prviceeds. i�al� ar any part vf fihe Praperty is condemned by eminent damain proceedings ar by
<br /> any prv�eeding ar purchase in li�u of condemnatian, Lender may at i�s ele��ian requ�re tha�all ar any por�ian of the
<br /> n�t praceeds vf �he award be appli�d �v the lndeb�edn�ss ar �he repair or restaration of the Property, The net
<br /> proceeds a�the auvard sha�l m�an �he award aft�r pay�nen� a�F all reas�nab[e �vsts, expenses, and a�torneys' fees
<br /> incurred by T�us�tee�r Lender in �t�nnection wi�th th� condemna�ian.
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