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2� 1 ��8284
<br /> DEED �F TRUST
<br /> �Continued� Page 3
<br /> ar assessments and shai� autharize the appropriate gauernmental o#ficial to del��er to Lender at any tim� a written
<br /> statemen�of the taxes and assessments against the Property.
<br /> Notice of Construction. Trustar shall notify Lender at least #i#teen �15f days befare any work is cammenced. any
<br /> ser�ices are furnished, or any materials are supplied to the Prvperty, if any me�hanic's lien, materialmen's lien, or
<br /> other lien cauld he asserted vn ac�ount of the work, ser�ices, vr materials. Trustor wili upon request o# Lender
<br /> furnish t❑ Lender ad�ance assurances satis#actory to Lender that Trustor �an and will pay the cost vf such
<br /> impro�em�nts.
<br /> PR�PERTY DAMAGE IN5URANCE. The following prv�isians relating tv insuring the Property are a part vf this Deed of
<br /> Trust.
<br /> Mainten�nce vf Insur�nce. Trustor shall procure and maintain pvlicies ❑f fire insurance with standard extended
<br /> �o�erage endorsements ❑n a replacement basis far the full insurable �aiue co�ering all Imprv�ements on the Real
<br /> Property in an amount sufficient �o a�oid appli�ation v# any coinsuran�e clause, and with a standard mortgagee
<br /> cfause in fa�or of Lender. Trustor shall also procure and maintain comprehensi�e general liability insurance in such
<br /> co�erags amaunts as Lender may request w�th Trustee and Lender being named as additional insureds in su�h
<br /> liability insurance policies. Additionally, Trustor shall maintain su�h other insurance, in�luding hut not limited to
<br /> hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies shall be writt�n in
<br /> form, amounts, cv�erages and b�sis reasanably ac�epta#�le t❑ Lender and issued hy a company or �ompanies
<br /> reasonably acc�ptahle tv Lender. Trustor, upan request of Lender, will deli�er ta L�nder from tim� #a time the
<br /> paiiGies or certificates v#insurance in form satisfa�tory to Lender, inc�uding stipulations #hat co�erages will not be
<br /> cancelled or diminished withou�at le�st thirty �30y days prior written nntic�tv Lender. Each insurance policy also
<br /> sha�� include an endorsement pro�iding that co�erage in fa�or of Lender will not he impaired in any way by any act,
<br /> om�ssivn vr default of Trustar or any other person. Should the Real Prvperty be �ocated in an area designated by
<br /> the Administrator a#ths Federal Emergency Management Agency as e special fla�d hazard area, Trustvr agrees tv
<br /> ohtain and maintain Federal Flaod Insurance, if a�ailable, within 45 days after notice is gi�en by Lender that the
<br /> Property is I�cated in a special flood h�zard area, for the full unpaid prin�ipal balance o#the laan and any prior�iens
<br /> on the prvperty securing the lo�n, up to the maximum policy limits set under the National Flood Insurance Program,
<br /> or as❑therwise required by Lender, and ta maintain such insurance for the term vf the loan.
<br /> Applica#ion of Proceeds. Trustar shall promptly natify Lender of any Ivss or damage tv the Property. Lender may
<br /> make proof of Ioss if Trustar fails to do so within fifteen �15y days v# the casualty. Whether or nat Lender's
<br /> secur�ty �s impaired, Lender may, at Lender's elsction, recei�e and reta�n the proceeds o#any insurance and apply
<br /> the proceeds to the reductian vf the Indabtedness. payment af any lien a##ecting the Prvperty. vr the restoration
<br /> and repair of the Proper�y. If Lender elects to apply th� proceeds t� restorat+on and repair, Trustvr shall repair or
<br /> replace the damaged vr destroyed Impro�ements in a manner satisfactory to Lender. L�nder sha��, upon
<br /> satisfacto�y proof �f such expenditure, pay or reimburse Trustar from the procegds for the reasvnable cost of
<br /> repair or restorati�n if Tfustor is not in default under this �eed of Trust. Any proceeds which ha�e not been
<br /> disbursed w�thin 18D days after the�r receipt and whi�h Lender has no� comm�tted to the repair or restvration of
<br /> the Prop�rty shall be used first to pay any amvunt owing to Lender under#his �eed o�Trust, then tv pay accrued
<br /> in#erest, and the rsmainder, if any, shall be app�ie� to the principa! balance of the lndebtedness. If Lender holds
<br /> any proceeds aiter paym�nt in full o# the Indebtedness� such proceeds shall he paid to Trust�r as Trustar's
<br /> interests may appear,
<br /> Trustor'� R�pvrt on Insurance. Upon request of Lender. howe�er nvt more then once a year. Trustor shal� furnish
<br /> to Lender a report on each existing policy of Ensurance showing: �1 y the name of the insurer; �2y the risks
<br /> insured; �3y the amount of the policy; �4y the proper#y insured, the then current replacement �alue o� such
<br /> property, and�he manner of determining that�alue; and �5} the expiration date�f the policy. Trustvr shafl, upon
<br /> request of L�nder, ha�e an independent appraiser satisfactory#o Lender de#ermine the cash�alue repla�ement�vst
<br /> of the Property.
<br /> LENDE�i'S E�CPENDITURES. If any actian or prv�eeding is commenced that wauld material�y af#ect Lender's interest in
<br /> the Property ar if Trustor fails to comply with any pr��isivn of this Deed o#Trust nr any Releted �ocuments, including
<br /> but nvt limited ta Trustor's failure to discharge or pay when due any amvunts Trustor is required to discha�ge or pay
<br /> under this Deed of Trust ar any Reiated Documents, Lender on Trustor's hehalf may �but shall nat be abligated tof take
<br /> any actian that Lender dsems appropriate, including but not iimited to discharging or paying all taxes. liens, security
<br /> interests,encumbrances and other claims, at any time le�ied or placed an the Property and paying a!I cvsts fvr insuring,
<br /> maintaining and preser�ing the Property. A11 such expenditures incurred or paid �y Lender f�r such purposes wil� then
<br /> bear interest at�he rate charged under the Note from the date incurred or paid by Lendgr to the date vf repayment �y
<br /> Trust�r. A!! such expenses wi�! becvme a part of the Indebtedness and, at Lender's option, wiii �Ay be payable vn
<br /> demand; �gf he added tv the balance af #he Note and be apportianed among and be payable with any installment
<br /> payments t� hecome due during either t1 f the t�rm o#any applicahle insurance policy; or �2y the remaining term of
<br /> the Not�; ❑r �C� be treated as a bafloon paym�nt which will he due and payable at the Nvte's maturity. The ❑eed of
<br /> Trust also wilf secure payment ❑f these amounts. Such right sha�� be in addition to ali other rights and remediss to
<br /> which Lender may he entitled upvn❑efault.
<br /> VIIARRANTY; DEFENSE�F TlTLE. The fvllvwing prv�isivns relating t❑ownership af the Praperty ar�e part of this Deed
<br /> af Trust:
<br /> Titla. T�ustor warrants that: �aj Trustor ho�ds gvvd and marketable title ❑f record to the Prap�rty in fee simple,
<br /> free and ciear of a�l liens and encumhrances vther than those set fvrth in the Real Prope�ty description or in any
<br /> tit�s insurance palicy. title report. or final title opinian issu�d in fa�ar vf. and accepted by. Lender in connection
<br /> with this Deed�f Trust. and tby Trustor has the full r�ght. pvwer, and auth�rity to execute and de�i►►er this�eed vf
<br /> Trust to Lender.
<br /> Dafanse of Title. Subje�t to the exception in the paragraph abo�e, Trustor warrants and wili fore►►er defend the
<br /> tit�e to the Property against the �aw#ul claims of all persons. In the e�ent any action ar proceedtng is commenced
<br /> that questions Trustor's title or the interest of Trustee�r Lender under this �eed of Trust� Trustor shall defend the
<br /> acti�n at Trustor`s expense. Trustvr may be the nominal party in such proceeding, but Lender shall b� entitled tv
<br /> par#�cipate in �he prviceeding and to be repres�nted in the praceeding by counsel of Lender's own choice, and
<br /> Trustor will deli�er� ar causs to be deli�ered� to Lender such instruments as Lender may requ�st from time ta time
<br /> to permit such participativn.
<br /> Campliance With Laws. Trustvr warrants that th� Property and Trustor's use of the Property �amplies with all
<br /> existing applicahle laws, ordinan�es. and regulations of go�ernmen#ai authorities.
<br /> Sur►►i�al of Representations and W�rranties. All r�presentatians, warranties, and egreements made by Trustor in
<br /> this Deed ❑f Trust shail sur����the execution and deli��ry of th�s Deed of Trust, shall be c�ntinuing in nature, and
<br /> shal�remain in fuil force and e�fect until such tim�as Trustvr's Indebtedness shall be paid in full.
<br /> C�N�EMNATIQN. The fol�ow�ng pro�isions r�lating tv condemnativn praceedings are a part vf this Deed o#Trust:
<br /> Proceedings. If any proceeding in c�ndemnation is filed, Trustor shall promptly notify Lender in writing, and
<br /> Trustor shall promptly take such steps as may be necessary to de#end the action and ❑btain the award. Trustvr
<br /> may he the nomina�party in such proceeding, but Lender shall be enti#led to participate in the pr�ceeding and ta be
<br /> represented in the proceeding by cvunsel of its awn choice, and Trustor will deli�er ❑r �ause to be deli�ered to
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