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� � � 2� 1 ��82�4�
<br /> aEEv �F �Ru�T
<br /> Laan No: 1 D13�D'18� �C�ntl�ued} Page 4
<br /> hazard, business interruption, and boiler insuranc�, as Lender may reasanabiy require. Po�icies shall be �n��ritten in
<br /> form, amaunts, cQ�erages and basis reasonably ac�eptable ta Lender and issued by a com1�any or ccampanies
<br /> reasanahly a�ceptable to Lender. Trustor, upon re�uest vf Lender, tirvii� deli�er tv Lerider �ra�� time to t�me �he
<br /> policies or cert�f�cates of insurance i� fvrm satisfiac�ary�o Lender, including st�pu�ations that ca�erages w ill not be
<br /> cancei€ed vr diminished without at least ten ���} days prior written not�ce to Lender. Each insurance pt�ficy aiso
<br /> sha[I include an endarsement pra�iding that cover�ge in�avor of Lender will not be impaired in any way by�any act,
<br /> arnission or default ❑f Trustor �r any other person. Shau�d the Real Property be �ocated in an ar�a desicnated by
<br /> the Administrator❑f the Federal Emergency Managerr-tien�Agency as a sp�c�a� fiood hazard are��, Trustar ��grees t❑
<br /> abtain and maintain Fed�ral Flovd Insurance, if a�ailable, within 45 days after notice is gi�en by Lender that the
<br /> Property is Iocated in a specia[fl�od hazard area, fvr the full unpaid prinGipal balance of the loar� and any ��riar liens
<br /> on the praperty securing the loan, up���he max�mum palicy#imits set under the Nation��� F�aod lnsurance Pragram,
<br /> o�as otherwise requirsd by Lender, and to maintain such insurance fior�he term of the Icran.
<br /> Appl�cation of Proceeds. Trustar sha�l p�amptly n�t�fy Lender of any loss or damage �o the Prape�ty. Lei�der may
<br /> make proo� af �oss if Trustor fails ta do sa w�thin �ifteen �15� days o� the casualty. Whet��er or no� Lender's
<br /> se�urity is impa�red, Lender may, at Lender's election, r�cei�e and retain �he prviceeds of any i��surance rind a�ply
<br /> �he proceeds to the �eduction of �h� fnde�tedness, payrnent of �ny lien affecting the �'rvperty, �r the r��storati�n
<br /> and repair ❑f the Property. if �ender e�ects ta app[y the praceeds to restoratian and repair, TrL�stor sha�� repair or
<br /> repiace the damaged ar destroyed Impro�ements in a manner satisfactary to Lender. l_ender shall, upon
<br /> satisfactory prvof vf su�h expenditure, pay or reirr�burse Trustar �ram the proceeds for �he reasonabf�� cas� af
<br /> repair or restaratian if Trustar is nat in default under �his ❑eed v� Trust. Any pr�cfreds wr�ich ha�e not been
<br /> disbursed within 18� days after th�ir re�eipt and wh�ch Lender has nat commi'�ted t❑ the repc�ir vr r�stcaratian ❑�
<br /> �he F'raper�y sha�I be used first to pay any amount owing t� Lender under this Deed of Trust, t��en �a pay° a�crued
<br /> interes�, and the remainder, i� any, sha�� be applied �a the princ�pa� ba�ance o� the Ind��t�tedne.�s. �f Len+�er h�lds
<br /> any praceeds after payrnent in fuC[ af the Indebtedness, such proceeds shall be paid to T�•ustor as Trustar's
<br /> i nteres�s may a ppea r.
<br /> Trus�or's Repvrt on Insurance. Upan request o�f Lender, however not more than once �� year, 1-rustor sh��ll �urr�ish
<br /> tv Lender a report an each �xisting policy of insur�n�e shawing; t 1} �he nam� vf �the insurer; �2� the r��ks
<br /> insured; �3� �he amou�t ❑� the �o[icy; �4} the proper�y insured, the then current replacern�nt �alue ❑� such
<br /> property, and�he manner of det�rm�ining that�a�ue; and �5f �he expiration date vf the policy. Trusto����all, upon
<br /> request o�Lender, ha�e an Endependent appra�ser satis�actary fia Lender d�termine the cash�al�::e rep�acement cost
<br /> a�the Property.
<br /> LE�IIDER"S EXPEN[]ITURES. �# any actior� vr proceeding i� cQmmenced that would materially� atfect Lender's ir�terest in
<br /> the Praperty or if Trustor#ai�s �� comp�y with any pr��isian of�his ❑eed of Trus�vr any Related Dc;cuments, �ncluding
<br /> hut not limi�ed �o Trustvr's failure to discharge or pay w�en due any amounts Trustor is r�.quired �:o discharc�e or pay
<br /> un�er this Deed of Trust❑r a�y Related Documents, Lend�r�n Trustor's heha[�may tbut sh��ll nat h��obligateci to� take
<br /> any action that Lender deerns appropriate, including but not limi�ed #o discharging or pavir�g ail taxes, liens, s�curity
<br /> interests, encumbranceS and ather claims, a�any time le�ied or p(aced an the Property and paying al! c�sts fvr insur�ng,
<br /> m�intaining and preser�ing the Property. A�1 such expenditures incurred or paid by Lender i�or such purpvses vvill �hen
<br /> bear in�eres� at the rate �har�ed under the N�te fram �he date incurred ❑r paid by Lender�o the da�e af repaymen� by
<br /> Tr�as�ar. A�I suGh expenses w��! becarne a part af the �ndebtedness and, at Lender's ❑p�io�, wi�l �A} be p�iyabl� vn
<br /> de�rnand; �B� be added to the ba�ance af �he Note and be apporti�ned amang and be payable v��ith any �nstallment
<br /> payments to become due during either {1} the term af�ny applicab�� insurar�ce po�icy; a� {�3 thE=. �emaininc� terrr� of
<br /> the Nate; vr �G} be treated as a bal�oa� payment which wil� he due and payabl� at the No�:e's ma�urity. ThE Deed of
<br /> Trust aisa wif[ secure paymen� of these amaunts. Such right shai� �e in addition t❑ all vther rights and rer��edies �o
<br /> which Lender may be enti�led upon Default.
<br /> W►�RRANTY: DEFENSE�F T1TLE. The fof(vwing prv�isio�s re�atin�ta awnership o�the Property are a part o�1:his �sed
<br /> o�Trust:
<br /> T�t1e. Trus�or warrants that: (a� Trus�or halds gaod and marke�able title vf record to the Pr���erty in �ee simple,
<br /> free and clear af all liens and en�umbranc�s ather than thvse set farth in the Real Praperty dEascrip�ion c�r in any
<br /> ti�l� insurance palicy, title repart, or final title opinian issued in fa�or of, and acceptec� by, L��nder in �onnection
<br /> with this Deed of Trus�� and {by Tru�tar has the full r�gh�, power� and authority t❑exec��te and �eli�er thi,, Deed of ,
<br /> Trus�to Lender.
<br /> Defense of Title. 5uh��ct to the �xc�pt��n in the paragraph a�o�e, Trustor warrants c�nd wi�[ �ore�er d�:;end the
<br /> tit�e to the Praperty against the lawful clairns af all persvns. In the e�ent any action or procee��ing is cornmeneed
<br /> that questians Trustor's title or the �nterest o#Trus�e� ❑r Lender under this Deed af Trus�, Trus-tar sha!! d�a�end the
<br /> action at Trustor's expense. Trustor may be the nominal party in such proceeding, bu� Lende� shall be entitle� to
<br /> participate �n the proceeding and �o be represented �n the p�oc�eding by c�unse� ❑� Lender's awn chc�ice, and
<br /> Trus�or will deli�er, or cause ta be�e�i�er�d, #v Lender such instruments as Lender ma�� request from t€me tv time
<br /> ta permit such participat�on.
<br /> Cvmpliance Wi�h Laws. Trustvr warrar�ts that �he Praperty and Trustor`s use of the Propert•y c�mpfie:� wi�h all
<br /> exis#ing appficable laws, a�dinan�es, and r�gula�ions of gv�ernmental authvrities.
<br /> Sur��vai v#Representa#ions and Warranties. Afl representations, warranties, and agreernen�s E-r�ade by ��rusta� in
<br /> this Deed of Trust sha�l sur�iWe the execution and delivery af thi� Deed of Trust, shall be �ontir�uing in nat�re, and
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