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2� 1 ��8485
<br /> ���D QF T'RIJST
<br /> {�Oilt[IIU�C�� Page 3
<br /> Improvements.
<br /> PR�PERTY DA�IAG E 1NS U RAN C�. The followi ng provis ior�s re�at�ng ta insu ring khe Prope r�y are a par�of tF�is aeed of
<br /> �r�st.
<br /> Main��nance of lnsurance. �"rustar sh�11 procure and maintain po�icies of fire insurance with s�and�rd extended
<br /> coWe�ge �ndorsements o� a replacement ivasis for the ful! �r�surable ►ra�ue coverir�g all lmpro�ements on the (�ea�1
<br /> I�roperty ir� an arnaun�sufiicient to a�oid a}�plication of �ny coinsurance clause, artd w�th � sta�dard mortgagee
<br /> cl�use in favor of Len�ter. Trustor shal�a�lsv procure and maintain ��mprehensi��general �iabil�ty ir�suranc��n sUch
<br /> coverage amounts as Lender may req��st w�th Trustee an�J �ender beir�g named as �dd itianal insureds in su�h
<br /> 1 iability insurance policies. Additionally, �'rust�r sha11 maintain such other insuranc�, including but nat li mite� to
<br /> f�azard, business interrupt�vn, and baile�insurance, as �ender may r�asonebly�equ�re. Policies shall be written in
<br /> form, amounts� cavera�es and basis reasonab[y ac�e}�ta�le to �er�der �nci issued by a company vr comp�nies
<br /> reasonab[y acceptabls ta Lender. �rus#or, upv� reques# o� Lende�, �rill ciel�ver to Lender from tirne to time the
<br /> policies or�ertific�tes �f insUrance�n fo�m satisfactor�+ta Lend�r,ineludin� stipufativ�s fhat cover�ges�ril� not�e
<br /> c�ncel�ed❑r diminished witF�out at least i�irty �3D} days privr virrit#en natic��o Lender. Eacf�insurance pv�icy also
<br /> shafl inc�ud�an endorsem�nt providing thet coverage[n favor af Ler��er wvill n�t be irr�paired in any wa}�by ar�y�ct,
<br /> omissio� or default of Ti-ustar or any ather persan. Should the R�a! Pro�erty be ffl�ated in an area des�gnated by
<br /> th�Administratvr of ti�$ Federa!Emergency�111anagement Agency as a special �lood hazard area, Trus�or�grees to
<br /> obtain and mai�tain F�dera! F]ood [nsurance, if availab�e, for t�� full unpaid principal baian�.e of t�e Ioan anc�any
<br /> pri�r liens on the praperty securi�� th� Ioan, up to the maxEmum Pa�icy lirr�its set under the Natianal F�ood
<br /> Insurance Program,a�-as otherwise required by Lender,and to maintain such insurar�ce for the term of the Io�n.
<br /> Application of�ro�eeds. Trcastor s�a[I ptom�t�y notify Ler�der vf any[oss or�amage to the P�o��rt�r. Len�er may
<br /> rnake praof of loss if Trustor fails ta dv sv with i n f't�te en �15� d�ys o� the casuaEty. Vllhether or r�ot Lende�s
<br /> secUrity�s impaired, Lend�r may, at �ender's electian, receive an�retain the pra�eeds af any ins�rance an�app�y
<br /> tf�e proceeds to the reduction ot the lndebtedness, �a}�ment of any lien afFectin� the Property, ar the r�storat�on
<br /> �nd repair of the Praperty. !f Lender e�ects to app[y the�rviceetis to restoratian and repair,TTustar sh�ll repair or
<br /> rep�a�ce the ciamaged or destroyed Irnp�vvements in a manner satis�actory to L�r�der. Lender sh�l�, up�n
<br /> satisfactory proof of such ex}�end�ture, pay or r�irnburse Trustor from the proceeds for the r�asonable cost of
<br /> repair vr restoratior� if 7rustar is not ir� default und�r this Qeed of Trust. Any �roc�eds which have not been
<br /> disbuTsed within �80 d�ys after their receipt and whicfn Lender has not committeci to the r�pair or�estorati�n of
<br /> ti�� Property sh�11 be used�irst to pay any amvunt ouving to Lender under this Qeed of Trust�ihen to pay a�cr�e�
<br /> interest, and f he remainder, if any, shall be applied t� the �ri ncipal balance of ti�e Ind�btedness. If L.ender hvfds
<br /> any proc�eds after payrnent in fu CI �f tf�e 1 ndebtedness, such proceeds shall be paid to Trustvr as 7ru stor's
<br /> interests may appe�r. •
<br /> 7rusto r's Repvrt on I ns ur�nce. llpon reqt�es�of l.end�r, however no# more than once a yea r,Trustor shall furnish
<br /> to �.ender a repvrt on each existing policy of insur�nce showin�: ��� the narne ot tE�e insuter; �2� t�e ri�ks
<br /> insured; �3� the a mount of the polley; t4� the propeMy insU red� the k�en current rePlacemen� value of such
<br /> property,and t�te m�nner of d etermin ing th at value;a�d �5y the expiration date of tfne pvli cy. Yru stor sha�l� upon
<br /> tequest af Lendet, have an inde�endent appraiser sa tisfacto ry to Len�er€ietetmine lF�e casF�Walue repl�cemer��cost
<br /> of the Property.
<br /> L�Nb�i�'S EX��NbIYUa�S. It ar�y actior�ar p�oc�ding is r:ommenced that rn�ould materially aff�ct Lender's interest an
<br /> the Propert�r or if Trustor fai�s to comp�y tir+,rith any provisian of this D�d of�"rust or any I�e���eti�o�urn�nts� inc[uding
<br /> but not limited #o Trustor's failure ta discharge or p�y vtirhen due any amo�r�ts Trustor is required to discF�arge or pay
<br /> under this D�ed�f Trust ar any Re�ated Documents, Lender or��i"rustor`s behalf rr�y�bu�s�ali not be obligated to�t�ke
<br /> an� actian ti�at �ender deems appr�pri�te, ir�cJudin� but not lir�nit�:d to dischar�Ing or paying �lI t�xes� liens, security
<br /> i nterests, encurnbranc�s�nd otf�er cfaims,at an�r time levi�d or�fa�an the Property and payi ng all�osts for insuring,
<br /> maintaining and preserving the Properiy. A1I such ex�enditures incurred or�aid by L�nder fo�such purposes wi[� th�n
<br /> bear interest at the�ate charged under�h� Note�rom the date incurred or�aid by Lender�o t��date of re}�ayment by
<br /> "�rustor. AI[ such cxp�r�ses wil[ bec,ame a part of the [ndebtedness and, at Lende�'� option, will �1�� be payab[e on
<br /> deman�; �B} be�dded to the b�f�nce of fhs hlot� and be appor#ioned �mang and E�e payabfe with a�y instaE�ment
<br /> payments to be�ame due d�r�r�g either �'I} tF��term af any applicable insurance�o�icy; or �2} tF�e rcmaining terrn of
<br /> t�e Note; or �C} be trea�ed as a balloon �aayment v+rhich wilE b�due�nd payabt�at the J�ote's maturity. Th�Deed of
<br /> Trust also will secure psyment of these amounts. 5ur.h right shall be in �ddif.ion �o a!I at�er rights and rernedies to
<br /> which�ender may b�enfitled upon DefauCt.
<br /> VtiIARRAiVTY; D�FENSE OF TITLE. The following provisiQns relating ta ownership af�he Property are a par#of t�is De�d
<br /> af�rust;
<br /> Ti#�e. TTustor warra nts tf�at: �a}7�-ustor holds good and marketable titl e vf record to th e Prapert}� in fee simple,
<br /> free and clear of a�I liens and encumbrar�ces oth�er�f�an thase set forth i� the Real �raperty descriptivn or in any
<br /> �it[e insura�ce poEicy, title report, or final title opEnion issued in f�v�r of, a�d accepte� �y, Le�der in cflr�nection
<br /> with this Deed of i'rust,and (b}Trustvr has the fu1�right, parnrer�an�f authority t�execute and delive�this Dee�i of
<br /> �'rust to Lender.
<br /> Defense of Title. Subject to the except�on �n the �aragrap� �b�ve, Trustor wa�rants and will forever def�nd the
<br /> title to tF�e Proper#y agair�s�the f a�wfu I clafms af a[[ p�rsons. In the event any action or praceedi�g is commenced
<br /> th at quest�ons Tru stor's title or th e interest o f Trustee or�ender under thi� ❑eed of Trust,'�rustor sF�ali defend �F��
<br /> �ction et Trustor's expense. �'rustor mey be the nornina! party in such proceedin�, but l.ender sha11 be entikled to
<br /> par#�cipate in #he proceeding and t❑ be repr�sented in t�� praceeding by counsef of l.en�e�s ov�rn chaice, and
<br /> Trustor v�ri11 deliver, ar cause to be del�vered� to Lend�r suc� instrurnents as l.er�der may request frvm tim�t❑ tim�
<br /> to permit su�F�partZci�ation.
<br /> Compllanca Wlth L.aw�. "i'�ustvr warrrxnts th�t thn 1'rvparty ana Tru�lcr'� use or the �ra�erty cornplia� with �s11
<br /> existing app��cable laws�ordinances�an�regulations o��o�ernrnental autharit�es.
<br /> Surrrival o�Representat�ons and 1�arrantfes. A�E reptesentations,vv�rranties, and a�greements made by Trustor in
<br /> this Deed af Trust shall survi�e the executian and defivery of this Qeec!of"rrus��sha11�ae continuing in nature� and
<br /> shall remain in fu II force ancf effect u n�El sUch time as Trustors Indebtedness shall be�a�d in fu EI.
<br /> CO NaEM NA'T[��i. T�e followin g provisions rela ting to cvndemnation proceedings are a p art af�his peed o f Tru st: '
<br /> Prviceed�ngs. If any proceeding in �o�dernnation is filed, Trustor shal! pramptly no#ify Lender in w�iting� and
<br /> Trustar shall prompt�y take suc�steps as mary be nec8s�sa�ry to defend the�ction and abtain the award. 'i'ruskor
<br /> may be the nominaf�a�rEy in such proceeding, but Ler�der shal]be entitled ta part���pate in tf�e p�rvr,eedin�2�nd to be
<br /> represer�ted in the prvc�ding E�y caounsel of its owr� choice, and Trustor wtll deli�rer ar r.�use to E�e defr��red ta
<br /> Ler�der s�ch instn.imenfs and �arumentatior� a,� may be requested by l�ender from tirx-�e to tirne �o permit such
<br /> p�rt�cipation.
<br /> Applicat�vn af Net Rroceeds, If alI o�an}+part of t�e Property is condemried by�m�nEnt damain proceedings or by
<br /> �r�y pr'oc�eeding or purchase in(ieu of candern�atio��Len�er may at its ef ection require th�t�ll or any po�tion of the
<br /> �et pro�eds of the awar� be applied to the Inde�tec�ness ar the repair or restorat�on of the Pnoperty. The net
<br /> praoeeds af the�ward sha11 rrrean th�awarc�after p�yrr�nt o�a[[reasonaE�[e costs� expenses,�nd attorr�eys'�ees
<br /> incurred by Trustee ar Lender in connection with the oondemnation.
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