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2� 1 ��8514
<br /> DEE� �F TRUST
<br /> ��ontit�u��i� p�g� 3
<br /> f�rnish to Len�er advance assurances satisfactory to Lender that Trustor can and wil� pa� the cost of su�h
<br /> i mprovements.
<br /> PROpEE�TY Da Nf AGE IhlSU RANCE. �he faliorrvin� provisions rela ting to in suring the Prope�i�are a part of tf�is Deed o f
<br /> Tru st.
<br /> l�la�ntenance of tnsurance. Trustor shall prac�re a�d maintain policies af fire insurance wifh stan�ard extended
<br /> coverage endorssmen#s on a r�p�acemenf �asis far the full insUrable value cavefin� all lmprovements on the Real
<br /> Rrvperty fn an amount sufficien t ta avoid appl�cation o� ar�� coinsuranc� �f ause, and with a standa�rd mort�agee
<br /> clause in favvr af Lend�r. Tr�,�stor sF�all alsv pracure and main#ain�vmpr�hensive general iiabilit�i�surance in such
<br /> c�v�rage amounts as Le�der rnay �equest u�rith Truste� and Lender be�ng nam�d as addifiorral insureds in such
<br /> l�abifity insuranc� �olicies. Adc�itivnally, Trustar shall maintain suc�t �ther insurance� including but not iimited to
<br /> hazard, business interruption, ar�d boiler insut-ance, �s LendeT may feaso�ably require, �o�icies shal� be v�r�itten i�
<br /> torm, �Tnvunts� coverage$ ar�d basis reasonabfy accepta�le to Ler�der anc� is�ued by a campany ❑r comp�nies
<br /> reason�b�y acceptab�e f� Lender. Tr�sfor, upon request of Lender, will deliWer to Lend�r�rom time to ��me t�e
<br /> po��cies or certiFcates af insurance in form sat�sf�ctory to �ender, including st��ul2�tions that covera�es wil� no�be
<br /> cancelled vr dimir�ished without at least thirty�30}da�s p�iot-vtirritten noti�e t❑ Lertc�er. Eac�insur�nce palicy alsa
<br /> sha�f ir�cfuc�e an endarsemeni pro�id�ng th�t coverage an favor a f Lertder wi II nvt be im}�aired in ar�y vtiray by ar�y act�
<br /> an�ission or defaUlt�f�"rustor-or an}�at�er person. 5hould t�e F��al P�opetty be I�c�tec! ir�an area designated by
<br /> the Administrator of the Federal Emergency Nlanagement Agen�y as a speciai fJoad hazard area� Trustar a�rees to
<br /> obtaln and rnainfain Federal F�ood Insura�ce, if a�ailable, for the fuli unpaic� principal b��ance flf t�e ioan and any
<br /> priar �iens on t�e p�operty securing f h� lpan, up to the rrtax�mum po�i�y Ci�nits ��t under the Alational F��ad
<br /> Insurar�ce Prograrn,or as ot�el-wise required by Ler�der,and ta maintain such insur�nce��r the term of the loan.
<br /> Applicatian af Proceeds. Tr�stvr shall promptly notify�er�der of�n�ios�ar damage to the Property. �ende�-ma�
<br /> make prvof of loss if Trustor tai�s to da so vv�ti�in fifteen �1�� days of the casual�y. I�Vf�ether or nQt Lende�s
<br /> secur�fy is imp�ired, L��der may, at Le�der's election, �eceive anc�retain the pro�eeds of any insUra�ce and ap��y
<br /> the p��c�eds to the reducfion of th� lndebtedness, payment of ar�y I«n affect�ng the Aroperty, or the res#oTatiot�
<br /> and rep�ir of#h e Rraperty. 1 f Lender efects to appfy t�e proceeds to restorati�n and reFair, �rustor shall r-epa�r o�
<br /> replace the damaged �r destroyed I�nprov�ments tn a manner sat�sfactory t� Lende�-. Lender shall, upvn
<br /> satisfactory proof of such expenditure, pay or reimbt�r,se Yrustor frorn tf�e proceeds for' the reasonable cast of
<br /> r�pai� or resto�ation if 7rustor is not in def2�ult under this �eed ❑f T�us�. Ar�y proceeds which �ave nat been
<br /> disbursed wfthin �80 days after t�eir r�ceipt a�c!which �er�der has not cornmitted �o the reFair or restvrafion o�
<br /> the Property shall be used�rst#a pay any amouni ou�in� tv Lendet unde�this�eed of�'rus�,t�en to pay accrued
<br /> i�terest, and the remainder, if a�y, shall be applied to the princip2�1 balanc� of the l�debtedness. If Lender holds
<br /> ��y proceeds �fter payrment in fu f I of fhe In��bfedness, such proceeds sE���l be paid to Trustor as Trustor's
<br /> int�rests may appear.
<br /> 7�'ustor's Repor#on tnsuran�e. Upon request of�ender, however not rnore than ance a year,T�rustor shalE furnish
<br /> �o Lender a report on each existing policy o� insurance shawin�: {�} the narne of #F�e insurer• t2} �he risks
<br /> insured; �3} t�e amount at the p��icy; �4} th� pro�erty �nsured, ��e fhen current �'ep�acement �a�ue of suci�
<br /> property,and the rnanner❑f de�erminrng that value;�nd �a} the expiration date of the policy. Trusto�shall� upor�
<br /> request of Lender, have an in�ependent apprarser sat�sfactory to Lender det�rmir�e the cash value replacement cost
<br /> ot the prvperty.
<br /> ���DER'S �?CPE�IDIfi11�ES. If any actian ar proceeding is cornm�nced#F�at v�rould ma�eria�Iy affect�ende�s ir��eres�in
<br /> the Pnaperty or if Tn.rstor fa�ls�o compiy tinrith any pro�i$�or�of t�is p�of Tr�st or any F�elated L7ocumentsf �ncluding
<br /> but not limited to�rustot�s failure�a d�sc�arge or pay wh�n du�ar�y a�nou�ts�"rustor is required to d�scharge or�ay
<br /> under#�is D�e�d�f 7'rus�or any F�elated I�o�uments,�ender on 7'rus#o�s��h��f rr�ay�but shall not be�bf igated to�t�ke
<br /> any action fE��t Lender t�eems a�ppropriste, I�cluding b�t n�t Iimlted to discharg�ng vr paying all t�xes, iiens, securi�y
<br /> interesfs, er�cumbrances�nd ather cl�ims,at�ny#ime leviecf or pl�ced on the Property and payir�g a�!costs for i nsuring,
<br /> ma�ntainir�g�nd preserving�fn� �roAer#y, All s�c� expenditures incurred ar pa���y Lender for suc���rpos�s uvi I� t��n
<br /> �e�r interes#at tE�e rate char�ed under t�e No#e frorn the date incur�ed or paid by L.ender to the date o�repayrnent b
<br /> Tr�,lstar. All su�h ex�er�ses w�lf became a� part of the lndebtedness and, �t�ende�s�ption, w�ll �A7 be payable on
<br /> demand; �g� be added to �he f�afanae oF the Note �nd be apportioned amon� and be payab�e with any installrnent
<br /> payme�ts to becom�due du�in�eit[�e� �'!y the term of any applicable insu�ance po�icy; or �2} the remaining term of
<br /> the Not�;�r (C� be tr�ate�as a baf�vor��ayment which vwi II be due and payable at the t�ate's matur�ty. The D�ed of
<br /> 7'ri��t �Iso will secure p�yrrx�nt of thc3sc� �maunts. 5uc1-i rlyht �hai� �e in ad�I�lon to a]! other rig�tt5 and rerned�e5 ta
<br /> w��ch Len�er�-nay be entiffed u�vn Defau�t.
<br /> WA�iRAN7Y;DEFENS���T�7L�. The following prov�s ivns rela ting ta owners hip of f�e �rape�ty a re a pa rt of th�s �]eed
<br /> af Trust;
<br /> 7itle. Trusfor w�Frants tf��t: ��}Trustor f�of�s goo� and marketable #�tle of recard#o tF�e Prop�rty ir� fee simpl�,
<br /> free and clear of a!I lEens and encumbrances vthe�than t�ose set fo�fh in the Rea� proper�description or i� an
<br /> tit�e insurance policy, titie rePor#� or fnal tit�e opinian �ssued in favor of, and accepted by, �ender in connec��o�
<br /> wi#h this D�ed af�'rust, and �by�'�ustvr has the fu11 rig�t, pvw�r,ar�d authority to ex�cute and d�li�e�this De�d�f
<br /> Tr�st�o Lend�r.
<br /> Defense of`�itle, Subje�t to t�e excep#ior� in the paragraph aba�re, Trustor warrants and vtirill forever defend the
<br /> title to #ne P�rop�r#y aga�nst the lav�rfu! claims of all persor�s, in the event an�a�fiar�ar�roceeding�is comrnenced
<br /> that questions Trustor's t�f�e ar tf�e intetest of T�ustee or Lender undeT this Deed af Trust,7rustor shall defend�he
<br /> action at Trustor's expe�se. Trustor may b�the nominal par#y in sueh proceeding, but Lend�r shal� be er�titled to
<br /> �articipate in the proce�d��� and to be represente�! in the proceet�ing by counse! of Lenderts awn choice, and
<br /> '�rustor wi[I c�eliver� or cause to be de�ivered, to Lender�uch instruments as Lender may request irom fime fo time
<br /> #o perm�t such parii�ipation.
<br /> complrance vrr�ch �aws. T�ustor warrants t�at t�� l�ra�er#� ar�� T�u sfor's use of the Pro e • �
<br /> existing app�icable j2�rrvs� ordir�ances,and regulatior�s ot governmer�ta!author�#ies. P � compli�s tinrcth all
<br /> �u�t�a� �f Repre�enta#�ons and V4�arra�t�es. AI! repres�nt�tions�warranties, and agr�emen#s made by Ti-ustor in
<br /> fhls Deed vf Yrust sha�l survive the execution and delivery o�#his Qe�d of Trust, sha[l be con#�r�uing in n�#ure,and
<br /> shall rerna�n in fu�l�orce�nd et�ect untll such time as 7'�ustor's lndebtedness sha�l be p�ir�irt�ull.
<br /> CO N��N1 NaT[ON. T�e fo Ilo�rin� provisions re�a ting tv cQndemnativn proceedings are a par�ai t�is Deed o f Tru st:
<br /> Proceedings. If any proeeeding in condemnation is �i�ed, Trustor sF�a�l pr�m�tly r�o#if}r �ender ir� writRn . and
<br /> Trustor s�all prompt[y tafce such steps a�may be ne�essary fv de�end t�e action and obt�in t�e av�rard. Trus�or'
<br /> m�y be the nominal party in suc�t p���ing, but L�nder s�all be er�titlec�#v P�rtic�p�te in tE�e prooeeding�nd to be
<br /> Tepresen#ed in the prove�ding by cou�s�l of�#s oy�rn ch��ce, anc�Trus#or wi(1 d�f i�e�or �ause to be delivered to
<br /> I�ender such instruments and docum�nfation as may be requested by Lender �ram tirne to tiir�te ta ermit such
<br /> participatior�. P
<br /> ��ppli�#�v�n�af Net Praceeds. If�I�ar any�art a�t�e Prapetty is conderru�ed by eminent damain proceedin s ar b
<br /> Y p ng ar p�rchase in liev of candemnation, Lenc�er�y�t its ele�t�on require that al!or ar�y part��n o�the
<br /> net �toc�eds af the award be �ppfied to the �nd�bfedness or the repa�r or r�stor�tion of the �roperty. The net
<br /> Prooeeds af ihe arnrard shall mean the a�vard a�#er p�yment of 2�I! re�son�ble costs� expenses,ar�d a�t�rn� s'f�es
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