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2� 1 ��83�4
<br /> DEED �F TRU�T'
<br /> �
<br /> Loan No: "�D'i 3(]�7�4 ��a�t�t�u� Page 4
<br /> ❑r as a�her�uvise required by Len�er, and ta i-naintain�uch insurance far�he term vfi the loan.
<br /> Appli�ation n�Pr�c�eds. Trustvr shall pram�tly noti�y Lender o� any lass ar damage tv �he Praper�y, Lender may
<br /> make pravf vf loss i� Trus�or fails �o do s� with�n fifreen �15� days o# ��e casualty. 1Nhe�her �� nat Lend�r's
<br /> �ecurity is impaired, Lender may, a� Lend�r's elec�ivn, recei�e and retain �he praceeds of any insurance and apply
<br /> the p�oceeds to �he reduction o� �he lndeb�e�ness, payment af any lien af�ecting the Pr�per�y, �r the restora�ion
<br /> and repair o�the Praper�y. [� Lender elec�s �o app[y the praceeds to res�oration and repair, Trus�ar shalf repair ❑r
<br /> repla�e the damaged vr des�royed Impravements in a manner satisfac�vey �o Lender. Lender shall, upon
<br /> satis�actvey prao� flf su�h �xpenditure, pay ar reimburse Trust�r �ram the praceeds fivr the reasanahle cvst of
<br /> repair ar restora��on if Trust�r is not �n defaul� under this Deed a# Trust. Any prace�ds which ha�e nat been
<br /> disburs�d within 18� days af��r �h�'rr r�ceip� and which Le�der has nvt cammitted to the repair v� restvratian af
<br /> �he Prvp�rty sha�� �e us�d �first tc� pay any amaun�nwing tv L�nder under this Deed a�Trust, then ta pay a�crued
<br /> �n�eres�, and the remainder, i� any, shall be applied t❑ the principa[ ba�ance vf the Indeh�tedness. I� Lender halds
<br /> any praceeds a�F�er paym�n� in �u�! of th� Indeb�edness, such proceeds shall be paid to Trus�ar as Trus�ar's
<br /> in�eres�s may appear.
<br /> Trustar`s Repor�on lnsurance. Upan reque�t of Lender, hvwe�er not rnore �han vnce a year, Trustar shal[ furn�sh
<br /> �a Lender a report an each exis�ing po�icy a� insuranc� shavving: �1 y �he nam� ❑f the insurer; �2y the risks
<br /> insured; �3� �h� amnunt ❑� the policy; ��y the proper�y insured, the then curr�n� repla�emen�t �alue of su�h
<br /> property, and th�e manner❑f determining that va�ue; and �5� the expiration da�e v��he policy. Trustvr shail, upon
<br /> request o�Lender, have an in��ep�nd�nt appraiser s��isfac�ary�a Lender de�ermin� �he cash �aiue replacement c�st
<br /> v�the Prop�r�y.
<br /> LENDER'S E�CPEND[TLIRES. �f any ac�tian vr pro�eeding is cammenced that wauld ma��rially a��eet Lender's in�erest in
<br /> the Property ar i#Trustor fails ta �omply with any pra�isivn o��his ❑eed af Trust ❑r any Rela�ed D�cumen�s, including
<br /> but nat Iimit�d �v Trus�or's failure ta discharg� vr pay when due any amaunfs Trustor is required to discharge or pay
<br /> und�r this Deed vf Trus�ar any Related D�cuments, Lender on Trustor's behalf`may {but�hall n�t be ❑bliga�ed to} �ake
<br /> any actian �hat Lender de�ms appropria�e, inc[u�ing bu� na� f'rmited to discharging or payin� a(� #axes, liens, securi�ty
<br /> interes�s, encumbran�es and a�her c[aims, at any time le�ied ❑r placed �n�he Property and paying all cos�s for insu�ing,
<br /> mainfiaining and preser�ing the Pro�er�y. A[I such expenditures incurred or paid by Lender�or such purp�ses will then
<br /> bear in�erest a�the rate charg�d under �he �lo�e frvm th� da�e incurr�d vr paid by Lender to the da�e �� repayment by
<br /> Trustar. A!1 such expenses wil� be�ome a part �f the Indeb'�edness and, at Lender's ap�ion, will 4A� be payable ❑n
<br /> demand; �B� �e added t❑ �h� balance vf the Note and be appor�ianed among and be paya�ie with any ins�allmen�
<br /> paymen�s �a becbm� due during ei�her �1} ��e t�rm af any applicab�e insuran�e pali�y; or �2� �he remain�ng �erm of
<br /> �he Nate; vr �C� be �reate� as a balloan payrnen'� which uvil[ be due and payable at the Nflte's maturity. Th� C]eed fl�
<br /> Trust also will secure payment �f thes� amoun�s. 5uch righ� shaf[ be in addition ta all o�her rights and rerr��dies to
<br /> whi�h Lender may�e entitled �pvn Defau�t.
<br /> WARRANTY: QEFEIVSE��TCTLE. The fo[[owing pravisions relating to�wnership af the Proper�y are a par�of�his Deed
<br /> of Trus�:
<br /> Tifil�. Trus�ar w�rrants that: �a� �'�us�or ht�ids gvo� and marke�able tifle ofi recard to �he Prbper�y in fee simple,
<br /> fre� and Glear of a�l li�ns and encumbrances other than thase s�t �ar�h in the Real Praperty descr�ptian vr in any
<br /> ti�le ins�rance policy, �i�le repart, vr �Fina( ��tle opinion issued in faWflr v�, and a�cepted by, Lender in connection
<br /> with this ❑e�d v�Trus�, and �b� Trustor has the�ull right, powe�-, and au�hority�o execute and deli�er this �eed af
<br /> Trus��o Lender.
<br /> De€ense o�Tit��. 5ubject to th� ex�ep�ion in �he paragrap�r abvUe, Trustvr warrants and will fare�er defend the a
<br /> �it�e ta the Proper�y aga�inst�h� Iawfu� �laims of all p�rsons. In the e�en� any actian o� pr�ce�ding is �nmmenced
<br /> tha�ques�ions Tru��ar`s fiitfe vr the in�erest v�Trustee or Lender under fihis �e�d v�Trust, Trustor shall defend the
<br /> acf��n a�Trustvr's expense. Trustor may be �l�e namina� party �n such proceed�ng, but Lender shall be enti�led ta
<br /> parti�ipate in the proceeding and tv be represented in �he proceeding by cvunsel a� Lender's ❑wn choice, and
<br /> Trustvr vuill deli�er, �r c�use to be d�livered, �❑ L�nder such instruments �s Lend�r may reques�from time �a �ime
<br /> �o permi�t such participatit�n,
<br /> Campliance ��th Laws. Trustor warran�s that the Property and Trustor's use ❑f �he Prvper�y complies v+�ith al[
<br /> existing applicabl� lavvs, o�dinances, and regul�tions a#go�ernmenta� au�harities.
<br /> Sur►ri�al vf Represen�ations and �111arranties, A�{ represe��a�ions, warranties, and agreemen�s made by Tru�s�.ar in
<br /> �his aeed of Trust shall survir�� �he �xecufiian and deliuery vf�his Deed ❑�f Trus�r shall be continuing in na�ure, and
<br /> shall remain in full farce and effe�t until such t�me as Trustvr's [ndebtedness sha[I be paid in full,
<br /> C�tVDEMIVAT[C3tV. Th� ��[�owing �ra�isi�ns rela�'rng�o condemnat�on praceedings are a part af�h�s ❑eed❑fi Trusf: ,
<br /> Prnceedings. l� any pr�cee�ing in con�emna�ion is filed, Trus�ar sha[f promptly noti�y Lender in wrifiing, and
<br /> Trust�r shall promptly tak� su�h st�ps as may be necessary �o d��end �he ac�ion and obfiain �he award. Trustor
<br /> may�e�he naminal par�y in such prviceeding, �ut Lend�er shalf be en�itled tQ partic�pate in the proceedin� and �� be
<br /> represented in �he proceeding by counsel af its vwn c�oice, and Tru�s�tor wi11 deli�er or cause t� he deli�ered to
<br /> Lender such instrumen�s and documenta�ion as may be reque�ted by Lende�- �rvm �ime to time t❑ permit su�h
<br /> parfiicipation.
<br /> Application of Net Proceeds. 1#all or any part af�he Pr�per�y is cond�mned by eminent domain prace�dings vr by
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