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2� 17��253
<br /> �EEi] �F T'��J�T
<br /> r
<br /> Laan No: '1 U'13�'1�53 ��o��t�1u� �'age 4
<br /> reasona�ly a�ceptabie to Lender. T�us�or, upan request a� Lender, wi�� del�ver t❑ Lender from time t� time the
<br /> palicies or c�r�ificates of insuranc� in farm satis�actory�o Lender, inciuding s�ipulafiions �hat coverages will na�t b�
<br /> canceJ[ed or diminished �rvithout at [eas� ��n €14} days priar writfen notice �o Lend�r. Each �nsuran�e policy alsa
<br /> shall �n�lude an endarsemen�prv�iding that c��erage in fa�vr o€Lender will no� be impaired in any v+�ay by any ac�t;
<br /> amissi�n or de�ault a�Trustor or any ather per�vn, 5hou�d the Rea� Property b� �vca�ed in an area designated by
<br /> �he Administrat�r o��he F�deral Emergency Management Agency as a special flaod ha�ard area, Trustor agr�es to
<br /> ohtain and maintain Federa� F[vod Insurance� if aWailab1a, withir� 45 days a��er notice �s gi�en hy Lender tha� the
<br /> Property is lo�ated i� a spec�al �food hazard area, fvr�he full unpaid principa� balance vf the }van and any priar���ns
<br /> vn�he prvp�rty se�uring �he loan, up ta�he maximum policy limits set under the Natianal F[ood Insuran�e Pragram,
<br /> or as atherwi�e requir�d �y Lender, �nd to main�ain such insurance�or the term v�th� I�an.
<br /> App�ica�ion of Pro�eeds, Trustar shal[ promptly natify Lender ❑f any Iflss or damage tv the Property. Lender may
<br /> make proa�f of Iass if Trustor faifs �v do sa �rithin �i�teen {�5� days of the casualty. 1Nhe�her Qr not Lend�r's
<br /> secr�ri�y is impaired, �.ender may, a� Lender's electivn, receive �nd re�ain the pro�eeds vf any insurance and apply
<br /> the proceeds ta the reductivn o��he [`ndebtedness, paymen� of any fien affec�ing �he Praperty, ar the restaration
<br /> and repair v��he Property. I� Lender ��e�ts �o apply �he proceeds t� restoration and repair, Trus�or shall repair �r
<br /> replace lthe damaged rar destrayed Irnpr��ements in a manner sat€s�a��ory tv Lender. Lender shall, upon
<br /> satisfac��ry proo� v� such expenditur�, pay or reimbu�-se Trustar �rt�m the proceeds far �he reasQnable c�s� of
<br /> repair or res�ora�i�n if Trustnr is na�. in de�aul� under this Deec� af Trust. Any praceeds which ha�e not been
<br /> disbursed within 1 S� days a#ter �heir receip� and vuhich Lender has not �ammitted to the repair v� res�oration of
<br /> the Property sha�l be �sed first to pay any arnaunt owing ta Lender undsr this Deed of Trus�, �hen to pay ac��ued
<br /> in�eres�, and fh� remainde�, if any, sha(I be applied to �he principal balance of the lnd���edness. I� Lender holds
<br /> any �roceeds after payment �n �ull o� th� �nde��edness, such praceed� shali be paid to Trustar as Trus�ar's
<br /> interes�s may appear.
<br /> Trustor's Repart vn [nsurance. Upon r�quest❑f Lender, hvwever not mvre than anc� a year, Trustc�r sha�� fu�nish
<br /> �v Lender a repor� on each exis�ing palicy o� insuranc� shvvving. f�} �he name ❑�f �he insurer; ��} �he r�sks
<br /> insured; �3� the arnaunt o� �he policy; �4} �he praper�y insure�, �he then �urrent replacement �alue of such
<br /> prop�r�y, and the manner o�de�ermining tha��alue; and �5� th� expira�ion date o�the p�licy. Trustor shall, upon
<br /> reques�a�Lender, ha�e an independen�a�praiser sa�is�acfi�ry t❑ Lender det�rmine the cash value replacemen�cas�
<br /> ❑f the Prvp�r�y.
<br /> LENDER'S E�PEN#�ITURES. lfi any activn or proce�ding is camm�nced that would ma�eria��y a��ect Lend�r's in��rest in
<br /> the Prop�rty vr [f Trus�or fails �o c�mply wi�h any pro�ision of this ❑ee� a#Trust �r any Rela�ed D�cumsn��, �ncluding
<br /> but naf limited tv Trustor's �ailure to discharge ❑r pay when du� any amaun�s Trus�or is requi�-ed �o discharge or pay
<br /> under this Deed of Trust vr any Related Dacuments, L�nder�n Trus�or's behal� may tbu�shal� nat b� obliga�ed �a� �ake
<br /> any actian tha� Lender deems appropriafie, in�Iuding but r�ot limi�ed to discharging or paying all taxes, liens, security
<br /> in��rests, encumbrance� and o�her C�aims, a�any tim� l��ied or placed ❑n�he Proper�y and paying all ��s�s�ar insuring,
<br /> maintaining and pres�r�ing th� Prvperty. A�� such expenditures incurred or paid by Lender for such purpases will �hen
<br /> bear interes� a�the ra�e charged under �he Nvte ��om th� date incurred ar paid by Lender�a the date t�� repayment by
<br /> Trustor. Af[ such expenses wi�� become a par� o� the �ndebtedness and, at Lender's ❑ption, wili �A} 1ae payable on
<br /> deman�; �B� b� added ta �he I�alance v� �he Not� and be apporfi��ned among and he payab�e wi�h any installment
<br /> payments to be�vme due during ei�her �'I� the �erm o� any applicable insurance policy; ar ��� the remaining term o�
<br /> the Nate; ar {C} be trea�ed as a balloon payment wh"r�h will b� du� and payable a�the Nc�te's maturity. Th� Deed af
<br /> Trust alsv vvi[i secure pa}�ment o� these amvun�s. 5uch right shall be in addit�an tv aIi o�her r�gh�s an�1 remedi�s ta
<br /> whiGh L�nder may be en�itled upan �3�fau�t,
<br /> WARRANTY; DEFENSE(]F TITLE. The �allawing pro�ision� relating ta ownership a�the Prvperty are a part v�this Deed
<br /> ��Trus�:
<br /> T�tle. T�rustvr warran�s tha�: �a} Tru�fior holds g�fld and marke�kable tit[e af record ta the Praper�y in fee simple,
<br /> �ree and �lear �� all liens and �n�umbrar�ces a�her �han thase se� far�h in the Real P�oper�y desGrip�i�n or in any
<br /> ti�le insu�ance p�licy, �itie repart, vr ��nal title ❑�inion issued in fa�or of, and accepted hy, Lender in connecti�n
<br /> with this �eed �f Trust, and {b� Trus�ar has�he�ull right, pawer, and authority ta execute and deii�er this Deed of
<br /> Trus�ta Lender.
<br /> Defense a� Title. 5ub�ec� �a �he ex�ep�ion in the paragraph abo�e, Tr�stor warran�s and will fare�er defend �he
<br /> title ta �h� Property agains�the �awful �laims afi a�l persans. In �he e�en� any action ❑r proceeding is commen�ed
<br /> that questions Trustor`s ti�le vr�he in��rest o�Trustee ❑r Lender under�his Deed o�Trust, Trustor shall de��nd th�
<br /> action a�Trustor's expens�. Trustor may b� the nvminal party in such praceeding; but Lender sha�� be enti�led to
<br /> participa�e in �he pra�eeding and t❑ be represent�d in �he proceeding by �vuns�l af Lender's own �hoice, and
<br /> Trus�ar wil� deli�er, or caus� to be de(i�ered, tv Lender su�h instruments as Lender may requ�st�rom �ime ta time
<br /> ta permit su�� par�icipation.
<br /> Cvmpl'ran�e V1lith Laws. Trus�ar �rvarrants �ha� �he Prvperty and TrUs�ar's u�e c�f �he Pr�perty complies wi�h all
<br /> exis�ing applicable lativs, ard'rnan��s; and regula��ions �f go�ernmenta� atrth�rit�es.
<br /> Sur�rival of Representativns and Warranties. Af I repr�sentations, warran�i�s, and agr�em�n�s made by Trustvr in
<br /> th�� Deed �f Trust shall sur�iv��he exe�u�ian �nd del��ery af this Deed of Trus�, shall be cantinuing in natu��e, and
<br /> sha�! remain in full�orce an�effect until such time as Barrvwer's [nd�btedness shali be paid in ful[.
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