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2� 17���9�
<br /> DEED �F TRUST
<br /> . ��ontinued� Page 3
<br /> statement of the taxes and assessments against the Property.
<br /> Notice of Cvnstruction. Trustor sh�ll notify Lender at least fiftesn �15� days hefare any work is commenced, any
<br /> ser�ices are furnished, or any materiafs are supplied to the Property, if any me�hanic's lien, materialmen's lien, or
<br /> other lien could he asserted vn accvunt of the work, ser��ces, or materials. Trustor wi!! upon request of Lender
<br /> furnish #v Lender ad�ance assurances satisfactory to Lender tha# Trus�or �an and wifl pay the cast of such
<br /> impra�ements.
<br /> PRQPERTY DAl1AAGE INSURANCE. The fvllowing pro►►isivns relating t� insuring ths Praperty are a part of this Deed of
<br /> Trust.
<br /> Meintenance of Insuranca. Trustor shal! prvcure end maEntain poli�ies of fire insurance with standard extended
<br /> c��erage endorsements an a replacement besis for #he tull insurable �elue cv�er�ng all Impro�ements on the Real
<br /> Property in an amaunt sufficient to a►►oid applicatian of any coinsurance cfause, and with a standard mortgagee
<br /> ��ause in favvr of Lender. Trustor shall also procure �nd maintain comprehensi�e general liability insurance in such
<br /> ca�erage amounts as Lender may request with Trustee and Lsnd�r k�eing named as additivna� insureds in such
<br /> iiabi�ity insurance pv�'rcies. Addit'ronally, Trustor shall maintain such other insurance, including but not limited ta
<br /> hazard, business interruption, and boiler insurance, as Lender may reasonably requtre. Policies shall be written in
<br /> form, amounts, co�erages and basis reasonably acceptable to Lender and issued hy a company ar companies
<br /> reasanably �cceptable to Lender. Trustor, upon request vf Lender, will deli�er tv Lender frvm time to time the
<br /> pvlicies or cert�ficates of insurance �n form satisfactvey ta Lender, inC�uding stipul�tivns that ca�erages will not be
<br /> canc�lled or diminished without at least thirty t3�� days privr wri#ten n�tic�to Lender. Each insuran�e policy also
<br /> shall include an endorsement pro�iding tha#co�erage in fa�or af Lender wil!not be impaired in any way by any act,
<br /> omission or defeult of Trustor or any other person. 5hould the Real Property be Iocated in en area designated �y
<br /> the Administratvr vf the Federal Emergency Management Agency as e special flavd hazard area, Trustor agrees to
<br /> abtain and maintain Federal Flood Insurance. if a�aiiable� within 45 days after natice is gi�en by Lender that the
<br /> Prvper#y is located in a special fload hazard area. fvr th�#ull unpaid principa�balance o�the loan and any prior fiens
<br /> an the property securing the ioen, up to the m�ximum policy limits set under the Nat�vnal Fload Insuran�e Prvgram,
<br /> or as othgrwise required hy Lender, and ta maintain such insurance for the term of the lo�n.
<br /> Application o#Proceeds. Trustor shall promp#ly notify Lender of any Ioss or damage#o the Property. Lender may
<br /> make proaf of Ioss if Trustor fails to dv so within fifteen ��5y days of the casualty. Whether or not Lender's
<br /> security is impaired, Lender may, at Lender's efectian, recei�e and retain the proceeds of any�nsurance and apply
<br /> the prviceeds to the reductian vf the Indebtedness, payment of any lien affecting the Property, or the res#aratian
<br /> and repair of#he Prvperty. If Lender efe�ts to appl�the proceeds tv restoration�nd r�pair. Trustar shal! repair�r
<br /> replace the damaged or destroyed Impro�ements in a manner satisfactory to Lender. Lender sheli, upon
<br /> sa�isfactory proof of such expenditure, pay or reimburse Trustor from the proceeds �fl� the rsasonabfe cvst o#
<br /> repair or res#�ration if Trustor is not in default undgr this Deed of Trust. Any prviceeds which h�►►e not been
<br /> disbursed within 18D days after their r�ceipt and which Lender has not committed to the repair or restoration of
<br /> the Property shall be used first to pay any amvun#❑wing to Lender under this ❑eed ort Trust, then to pay accrued
<br /> interes#, and the remainder, if any, shall be �pplied to the principal baianc� of th� Indebtedness. If Lender hvfds
<br /> any proe�eds after payment in full vf the Indebtsdness, such proceeds shall be paid to Trustar as Trustor's
<br /> interests may appear.
<br /> Trus#or's Repvrt an Insurance. lJpon request of Lender. h�we�er not more than vnce a year. Trusto�shall furnish
<br /> to Lender a repvrt on each existing policy of insurance showing: �1 y the nam� of the insurer; �2f the risks
<br /> insured; t3y the amount of the poiicy; �4y the property 'rnsured, the then current replacemen# �alue of such
<br /> property, and the mannsr vf determining that►►alue; and �5y the expiration date of the policy. Trustor shall, upan
<br /> request af Lender, ha�e an independent appraiser satisfactory tv Lender determine the cash�alue replacemgnt cost
<br /> af the Property.
<br /> LENDER'S EXPENDITURES: ff any action vr proceeding is commenced�hat would materialiy affect Lender's �nterest in
<br /> the Property or if Trustvr fails t❑ comp�y with any pro�isivn of this Deed ❑f Trust or any R�lated ❑ocuments. including
<br /> but nat limi#ed to Trustor's faiiure to discharge or pay when due any amounts Trustor is required to dis�harge or pay
<br /> under this Deed of Trust or any Reiated aocuments. Lender on Trustor's behelf may �but shall not be oblig�ted tof take
<br /> any action that Lender deems appropriate, including bu� not ffmi#ed ta discharging vr paying a!! taxes, liens, security
<br /> interests,encumbrances and other�laims, at any time���ied or placed on the Property and paying all costs for insuring,
<br /> maintaining and preser�ing the Property. All such expenditures incu�red or paid �y L�nder fior su�h purposes will then
<br /> bear interest at the ra�e ch�rged under the Nate from the dat� incurred or paid by Lender to the date of repayment by
<br /> Trusto�. All such expenses will b�come a part vf the Indebtedness and. at Lender's vptian, will �A� h� payable on
<br /> demand; t�j �e added to the balance of the Note and he appvrtioned among and be pay�ble wi#h any installment
<br /> payments to hecome due during either �1 y the term vf any applicable insurance po�icy; or ��y the rema�ning t�rm of
<br /> the Note; vr {C� be treated as a ballovn payment which will be due and payabie �t the Note's maturity. The Deed of
<br /> Trust als❑ will secure payment of these amounts. Such r�ght shall he in addition to all other rights and remedies ta
<br /> which Lender may be entitl�d upvn�efault.
<br /> WARRANTY; DEFENSE�F TITLE. The following pro�isians relating t❑awnership❑f the Prvperty are a part of this Deed
<br /> vf Trust: *
<br /> Titla. Trustvr werrants that: �af Trustor hvlds good and marketahle title o# record to the Property in fee simple.
<br /> #ree and clear of ali li�ns and encumhran�es other than those set forth in the Rea! Prop�rty description or in any
<br /> title insurance policy. title report, or fina! title opinion issued in fa�or of, and accepted by, Lender in cvnnectivn
<br /> with this Deed of T�ust, and ���T�ustor has#he full�ight, p�wer, and authority to execute and deli►►er this Deed of
<br /> Trust to Lender.
<br /> De#anse o�Title. 5ubj�ct to the ex�eptian in the paragraph abo�e. Trustor warrants and will fore�er defend the
<br /> title to the Property against the �aw#ul claims ❑f ail persons. In the e�ent any action or proceeding is commenced
<br /> that questians Trustor's title or the interest of Trustee or Lender under this D�ed af Trust, Trustor sha�l defend the
<br /> action at Trustor's expense. T�ustor may be the nomina! party in such proceed�ng. but Lender sh�ll be entitie� to
<br /> participate �n the proceeding and to he represented in the proc�eding by c�unsel of Lender's awn choice, and
<br /> Trustor will deli�er, or cause to he deii�ered, to Lend�r such instruments as Lender may request from time t❑time
<br /> to permit such participatian.
<br /> Gvmpliancg Vllith Lews. Trustor warrants that the Prop�rty and Trustor`s use of th� Prvperty camplies with aii
<br /> existing applicable laws, ordinan�es, and regulat+�ns of go�ernmental authorities.
<br /> Sur�i�al of Representat�ons end Warranties. All representations, warranties, and agresments made by Trustor in
<br /> this Deed o#Trus�shall sur�i�e the execu�ion and defivery of this Deed vf Trust, shall be continuing in nature, and
<br /> she��remain in full force and effect until such time as Trustor's Indebtedness shall be paid in full.
<br /> C�NDEMNATInN. The foflowing pro�isivns relating ta condemnation proceedings are a part o#this Deed o#Trust:
<br /> Procsedings. If any proceeding in candemnation is fi�ed, Trustvr shall promp�ly notify Lender in writing, and
<br /> Trustor shalf promptly take such steps as may be ne�essary to defi�nd the action and obta�n the award. Trustar
<br /> mey b�the naminal par#y in such proceeding, hut Lender shall he entitfed to participate in the proceed+ng and tv he
<br /> represented in the proceeding hy counse! af its own choice, and T�us#or wil! deli�er or cause to be deli�ered to
<br /> Lender such instruments and dvcumentation as may he requested by Lsnde� from time #o time to permit such
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