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2� 1 ��874�
<br /> DEED �]F TRUST
<br /> Loan Na: 'I�'!�,99�5� tContinued� Page 4
<br /> Prvperty in an amaunt sufficient ta a�vid applicati�n flt any �oinsurance ciause, and wi�h a standard martgagee
<br /> �lause in fa�or v�Lender. Trus�or shall aEs� procure and maintain comprehensi�e genera� lia�ili#y insurance in such
<br /> cv�erage amounts as Lender may request v►►itY� Trustee and Lender being named as additional insureds in su�h
<br /> IFability insurance poii�ies. Additionally, Trustvr shall maintain such ather insurance, including but not �imited to
<br /> hazard, business interruptian, and boiler insurance, as Lender may reasanably require. Paf'rcies shali �e wr�tten in
<br /> fvrm, amounts, ca�erages and basis reasonably acceptable t� Lender and issued by a �ompany �� Gompanies
<br /> r�asonably acceptable tv Lender. Trustor, up�� request af Ler�der, will deli�er t❑ Lender from time ta time the
<br /> policies �r certifiGates of insurance in form satisfactory t❑ Lender, including stipulations that co�erages wff� not �e
<br /> cance�led ❑r diminished withou# at least ten �1�} days priar written not��e ta Lender. Ea�h insurance policy afso
<br /> shal� include an endorsement pra��ding that�o�erage in fa�or❑� Lend�r wiii nvt be impaired in any way by any act,
<br /> omiss�on ❑r de�ault of Trustor ar any other person. 5hvuld the Real Property be iocated in an area designated by
<br /> the Administrator af tl�e Federal Emergen�y Manag��nent Agency as a special flood hazard area, Trustor agrees to
<br /> obtain and �naintain Federa! Flavd insurance, if a�ai�able, for the tull unpaid principal balance af the ioan and any
<br /> prior liens an the property securing the laan, up ta th� maximum paliey �imits set under the Nationaf Flovd
<br /> Insurance Pragram, ar as otherwis� required hy Lender, and t� maintain such insurance fvr the term of the io�n.
<br /> Application of Proc�eds. Trustor sha�� promptiy notify Lender❑f any foss ar damage ta the Property. Lende� may
<br /> make proof vf lass if Trustor �ails to dv sa within fi�teen �15} days of the casualty. Whether �r not Lender's
<br /> security is impaired, Lender may� at Ler�der's �I�cti�n, receE�e and retain the prviceeds of any ir�surance and apply
<br /> the proceeds to the reduction af the Ind�b�ed�ess, paymen� o# any lien affecting the Prope�ty, or the rest�ration
<br /> and repaEr �f the Praperty. If Lender elects to apply th� pr�ceeds to restvration and repair, Trustor shall repair ar
<br /> r�pfac� th� damaged or destroyed impra�ements in a manner satisfactary to L�nder. Lender sha�l, upvn
<br /> satisfiactary proof of such expendi�ure, pay nr reimburse Trustor �rom the prviceeds fvr th� reasvnal�ie cast of
<br /> repair ar restvration if Trustor is nat i� default under this ❑eed of Trust. Any proceeds which ha�e not been
<br /> dEsbursed wi#hin �8� days after their receipt and which L�nder has not committed to the repair vr restoration of
<br /> tf�e Property sha1� be used first ta pay any am�un�flwing to Lender under this De�d of Trus#, ther� t❑ pay accrued
<br /> interest, and the remainder, �� any, shafl be applied ta t�te pr�ncipal balance of the Indebtedn�ss. �f Lender ho�ds
<br /> any praceeds after payrner�t in full of the �ndebtedrless, such proGeeds shall be paid to Trustar as Trustor's
<br /> interes�s may appear.
<br /> Trus#or's Report on Insurance. Upon request o� L�nder, howe�er not more than once a year, Trustar shall furnish
<br /> to Lender a re�ort ❑n each existing policy �f insurance shvwing: �1 y the name of the insurer; �2f the risks
<br /> insured; �3f the amount of the policy; �4� the propert� insured, the then Gurren� replac�ment �alue �� SUCh
<br /> property, and the manner af defierr�`rining tY�at valUe; and {5y the �xpirativn date a�th�e poli�y. Trustar shaEl. upon
<br /> request vf Lender, ha�e an indepe�dent appra�ser satisfiactory ta Lender determine the cash �alue replacement cost
<br /> of tl�e Pr�p�rty.
<br /> LENDER'S EXPENDITURES. if �ny a�tion ar proceeding is commenced '�hat wauld materialiy affsct Lender's �nt�rest in
<br /> the Property or if Trustar fails to camply with any pro�isEor� of this Deed of Trust or any R�iated Dacuments, including
<br /> but no� limited t� Trustor's faiiure ta discharge ar pay when due any amounts Trustor is required to discharge ❑r pay
<br /> under this C�eed of Trus��r any Related Documents, Le�der an Trus�or's behalf may {but shail n�t be obiigated toy take
<br /> any action that Lender deems appropriate, inc�uding but n�t fimited ta discharging ar paying af� taxes, liens, security
<br /> interests, encur'nbrances and ❑th�r c�aims, afi any tim� le�ied or placed an the Property and paying all costs far insuring,
<br /> r`naintaining and preser�ing the Prvperty. All su�h expenditures incurred �r paid �y Lender far such purposes will then
<br /> bear int�rest at the rate charged under the Not� from t#�e date i ncurred vr pai�i by Lender to the date of repayment by
<br /> Trustor. All such expenses will become a part vf the [ndebtedness and, at Lender's option, v►rill �Af be payaE�le on
<br /> demand; �By be added to the ha�ance of the Note and he appartioned among and be payabfe with any install�ent
<br /> �iayments �a become due during either �1 y �he term ❑f any applicable insuran�e policy; ar {�} th� remaining term af
<br /> the Nvte; ❑r �C} be treated as a bafloon payment which will be due and payabfe at the Note's maturity. The Deed ❑f
<br /> Trust aEso wiii secure payment �f these amvunts. Such right sha�� he in addition to all other rights and remedies to
<br /> which Lender may be entitled upt�r� Defaul�t.
<br /> VIIARRANTY; DEFENSE�F TITLE. The following pro�isions re�afiing to vwnership❑�the Prop�rty are a part of this De�d
<br /> ❑f Trust:
<br /> Title. Trustor warra�ts thafi: fa� Trustor halds good and marketable titie of recard ta the Property in fee sEmp�e,
<br /> fre� and clear �# all liens and en�umbrances ❑ther �than those set farth in the f�eal Praperty description ar in any
<br /> title insurance �a�icy, title report, a�- final titl� opinEon issued in �a�or af, and accepted hy, Lender in cannectian
<br /> w�th this Deed �f Trust, and �b} Trus�ar ha�the full right, pawer, and authvrity ta execute and deliver this ❑eed�f
<br /> Trust to Lender.
<br /> De#ense of Title. Subject to �he exceptian �n the paragraph abo�e, Trustar warrants and wili for��er defend the
<br /> title to the Pr�perty aga�nst the lawful claims o� all persons. �n the event any a�tion vr proceeding is commenced
<br /> that questions Trustor'� tit�e or the interest of T�ustee or Lender under this ❑eed v#Trust, Trustor shall de�end the
<br /> action at Trustarr5 �xpen5e. Trustor rnay be the nomEna� p�rty in such proceeding, but Lender shal! be entitled to
<br /> participate in the prvcseding a�id to be represented in the proceeding by counseE of Lender's awn choice, and
<br /> Trustor wi�i deliver, or �ause to be deli�e�ed, t� L�nder sucF� instruments as Lender may request from time to �ime
<br /> ta permit su�h parti�ipation.
<br /> �omplian�e Vllith Laws. Trustar warrants that the Property and Trust�r's use af the Pr�p�rty comp�ies with all
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