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� 2� 1 ��8343 DEED �F TRUST Loan No: '[�'[3��]19� �C�ntinued� Page 4 securi�y is impaired, L�nd�r may, at Lend�r's election, recei�e and retain th� proceeds o� any insurance and apply �he proceeds �� the redu�tion ❑f �he lndebtedness, payment ❑� any lien a#fecting the Property, ❑r the restoration and repair ❑f�he Property. If Lender e�ects ta apply the proc��ds to res�oration and repair, Trustor sha�� repair or replace the damaged or des�royed impro�emen�s in a manner satisfac�ory to Lender. L�nder shall, upon sa�is�actory proof o� such expenditure, pay ❑r re�mburse Trustor fram the proceeds far �he reasonable c�st ❑� repai� ❑r resfiora�ion if Trustor is not in default unde� this D�ed o# Trust. Any praceeds which haWe no� been disbursed within 18C� days after �heir receipt and which L�nder has not c�mmitted to the repair or restoration of the Property shall be used firs�to pay any amoun� owing to Lender under this Deed of Trus�, then t� pay accrued interest, and the remainder, if any, shall be applied to the principal balance ❑f�he �ndeb-�edness. �fi Lender hofds any proceeds after payment in full of the �ndeb�edness, such proceeds sha�! be paid to Tt�us�or as Trus�or's interests may appear. Trustor's Repor#on �nsurance, Upon re�ues�af Lsnder, h�we�er not mare #han once a year, Trustor shall fiurnEsh to Lender a report ❑n each existing policy of insurance showing: {�} the name of �he insurer; ��} the risl�s insured; {3� the amaun� ❑f �he policy; �4} fihe property �nsured, the #hen curren� replacemen� value of such property, and �he manner❑f d��erminin� �ha�Walue; and {5} the expirati�n da�e ❑f�he policy. Trustor shall, upon reques�o-�Lender, ha�e an independen�appraiser satis�ac��ry to Lend�r determine�he cash �alue replacement cos� ❑f-the Praper�y. LENDER'S EXPENDITURES. I�any ac�ion or proceeding �s commenced tha� would materially affect Lender's interesf �n �he Proper�y or i�Trus�ar fails to comply wi�h any pra�ision ❑f this Deed ❑f Trust or any Rela�ed ❑ocumen�s, including bu� nat limited t❑ Trustor's tailure �❑ dis�harge ❑r pay when due any amounts Trus�tor is required t❑ discharge ❑r pay under�his Deed ❑f T�-us�ar any Rela�ed L7o�uments, Lender on Trus�or's behalf may �but shall not he ❑�ligated �v� take any action �hat Lender deems apprvpriate, including but not limi�ed �o dis�harging ❑r paying all taxes, liens, securi�y in�erests, encumbrances and other claims, at any time le�ied flr pla�ed on the Property and paying all costs for insuring, maintaining and preserWing �h� Property. A�� such expenditures incurred or paid by Lender #or such purposes will then bear interest a�the ra�e charged under�he Nv�e from the da�e incurred or paid by Lender to th� date o� repaymen� by Trustvr. All such expenses uvi[[ become a part of�he Indebtedness and, at Lender's option, will �A} be payable ❑n demand; �By be added f� the balance ❑f the Note and 1ae apportioned among and be payab[e wi�h any installment payments t❑ became due during eith�r {1� the term of any applicable insurance policy; or ��} the remaining term ofi �he Note; or {C� be treated as a ba[loon payment which rrvill lae due and payabl� a�the Note's maturity. The Deed ❑f Trus� also will secure paymenfi of these amounts. Su�h r�gh� shall be in addi�ion to a[I �ther rights and remedies �❑ which Lender may be entitled upon ❑efiault. 1NARRANTY; DEFENSE�F TITLE. The fo[[awing pro�isions re�ating to own�rship af th� Proper�y are a part o�this Deed o�Trust: Ti#Ee. Trustor warran�s tha�: {a� Trustor holds good and marketala�e title of r�card ta th� Prvperty in �ee s€mple, #ree and c�ear of all li�ns and encumbran�es �ther than thase set �orth in the Real Prap�rty description �r in any titie insurance poli�y, title report, flr final title opinion issued in �a�vr of, and acc�pted by, Lender in connection with this Deed af Trust, and {b� Trus�or has the full righ�, pow�r, and au�hori�y to execute and deliver�his Deed o� Trust to Lender. Defense of Ti#le. Subjecfi to the exc�pti�n in the paragraph abo�e, Trus�ar warrants and will fore�er defend the titse tfl �he Pr�perfiy agains��he law�ul claims af all persons. In the eWent any activn or proceeding is commen��d �hat questions Trustor's title or the interes�a�Trus�ee ❑r Lender under this Deed of Trust, Trustor shall d��end the activn at Trustor's expense. Trustor may be the nominal party in such proceeding, but L�nd�r shall be entitled �a participate in the pr�c�eding and �o be represen�ed in �he proceeding by caunsel of Lender's �wn chaice, and Trust�r wi�l del��er, or cause to 1ae de�i�ered, to Lender such ins�ruments as Lender may request from time t�time to permi�such par�icipation. Compl�ance With Laws. Trustor warrants that the Proper�y and Trustor's use ❑f th� Proper�y camp[ies with all existing applicable laws, ordinances, and regu�atians af ga�ernmental authari�ies. 5urvi►►al ❑f Representa�ions and V�Jarran�ies. All repres�ntations, warran�ies, and agreements made by Trus�ar in �his ❑eed ofi Trust shai� surWi�e the executian and deliWery ❑#this Deed �f Trus�, sha�� be con�inuing in nature, and shall remain in�ul!#arce and e��e�t un�i€such time as Trus�or's [ndebtedness shal[ be paid in�uII. C�NDEIIlINATIUN. The�ollowing pra�isions re�ating to condemna�ion pro�eedEngs are a part v�this Deed of Trust: Proceedings. It any proc�eding in condemna�ion is filed, Trust�r shal� promp�ly notify Lender in writing, and Trustor shai! promptly �ake such s�eps as may be necessary t❑ defend �khe ac�ion and obtain the award. Trus�ar may be the namina[ party in such proceeding, but Lender shall be entitled to participa�e in�he proceeding and t� be represented in the proceeding by caunsel �� its ❑wn chaice, and Trustflr will deli�er or �ause to b� d�li�ered to Lender su�h €nstruments and documentafiion as may be requested by Lender from time to time ta permi� su�h parti�ipation. Applica�ian o�Nef Proceeds. If all �r any part of-�h� Property is condemned by eminent domain proceed;ngs ❑r by any proceeding or pur�hase in lieu o�F condemna�ion, Lend�r may a�its election requEre tha�a�[ ❑r any port�on o�the net pro�eeds of the award be applied �o the [ndehtedness or th� repair ar restoration ot the Proper�y. The net proceeds of the award shall mean the award af�er paymen� of all reasanab[e costs, expenses, and a�torneys' fees in�urred by Trus�ee or Lender in c�nnection with the condemna�ian.