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2� 17��272
<br /> DEED �F TRUST
<br /> Lvan N�: 1�'I 3D'i'i 7� ��ontinued� Page 4
<br /> any pr�ceeds after payment in full of the Indebtedn�ss, such pro�eeds shall be paid to Trustor as Trustor's
<br /> interests may appear.
<br /> Compliance with Existing Indebtedness. During the per�od in which any Existing Indehtedness described belvw is
<br /> in effect, compfiance with the insuranc� pro�isions contained in the instrument e�idencing such Existing
<br /> Indebtedness shall constitute �ampliance with the insurance pr��isions under this ❑eed vf Trust, t❑ the extent
<br /> cvmpliance with the terms t�f this Deed of Trust w�uld �onstitute a duplicatinn af insurance requirement. lf any
<br /> prviceeds fram the insurance t�ec�me payable ❑n foss, the pro�€sions in this C�eed vf Trus� far di�ision of praceeds
<br /> shafl apply vnly t❑that portion of th� prviceeds not payable to the halder af the Existing Indebtedness.
<br /> Trustor's Repvrt an Insurance. Upon r��uest of Lender, howe�er n�t m�r� than onc� a year, Trustor shall furnish
<br /> t❑ Lender a report on each existing palicy of insurance showin�: �'f y the name vf the insurer; �2y the risks
<br /> insured; �3� the amflunt af the poficy; �4� the property insured, the then �urrent replacement �alue of such
<br /> property, and the manner af determining that �alue; and �5� the expiration date of the po�icy. Trustar shall, upan
<br /> request of L�nder, ha�e an independent appraiser satisfaCtary to Len�4er determine the Gash �alu� repla�em�nt �ast
<br /> af the Property.
<br /> LENDER'S EXPENDITURES. I� any actian or proceeding is eommen�ed that w�uld materia�Ey aff�ct Lend�r's interest in
<br /> the Property or if Trus�ar fails to compiy with any pro�ision ❑f this Deed vf Trust or any R�lated Documents, in�luding
<br /> hut n�t limited ta Trustor's failure ta c�mply with any vbligatian to maintain Existing lndeh�edness in good standing as
<br /> required below, ❑r to discharge ar pay when due any amounts Trustor is r�quired ta di�charge ar pay under this Deed ❑f
<br /> Trust or any Re�ated Dacuments, Lender on Trustor's hehalf may tbut shall not be obli�ated tny take any actian that
<br /> Lend�r deems appropriate, +n�luding but nat limited to discharging or paying a�l taxes, iiens, security interes�s,
<br /> eneumbranc�s and vther claims, at any time le�ied or placed an the Property and paying all �osts far znsuring,
<br /> maintaining and preser�ing the Property. All such exp�nditures incurred or paid by L�nder for such purposes will then
<br /> bear interest at the rate charg�d under the Nvte from the date incurred vr paid by Lender t� the date af repaym�nt by
<br /> Trustvr. A!! such �xpenses wilf become a part af the Indehtedness and, at Lenderr5 ❑ption, wilf �A� be payable on
<br /> demand; �B� be added ta the hafance ❑f the Note and b� apportioned amang and he payabl� w�th any insta�lment
<br /> payments t❑ become due during either �1� the t�rm ❑f any appli�able insurance palicy; or �2� the remaining term vf
<br /> the N�te; a� ��� be treated as a ballovn paymen� which will be due and payable at the Nate's maturity. The Deed �f
<br /> Trust alsa will seGure payment of these amaunts. �uGh right shall be in addition to all ❑ther rights and remedies to
<br /> which L�nd�r may be entit�ed upon Default.
<br /> WARRANTY; DEFENSE�F T1TLE. The fallawing pro�isi�ns re�ating t❑ ❑wnership❑f the Property are a part❑f this Deed
<br /> ❑f Trust:
<br /> Ti�le. Trustor warrants that: �a} Trustor hvlds good and marketable title of record t� the Property in fee simple,
<br /> #ree and clear of all liens and encumbrances other than those set farth in th� Real Property descripti�n or in the
<br /> Existing Indebtedness section below ❑r in any title insuran�e palicy, title report, ar f�nal tit�e apinion issued in fa�ar
<br /> af, and accepted hy, Lender in conn�cti�n with this ❑eed at Trus�, and �b� Trustor has the full right, pawer, and
<br /> authority t❑execute and deli�er this Dsed of Trust to Lender.
<br /> Defense af Ti#le. Subject ro the exception in the paragraph abo�e, Trustor warrants and wit� fore�er defend the
<br /> titl� ta the Prop�rty against the lawful ctaims af all persons. In the e�ent any action ar praceeding is cammenced
<br /> that questians Trustar's title ar the interest of Trustee ❑r Lender und�r this Deed of Trust, Trust�r shaff defend the
<br /> action at Trustor's expense. Trusta� may be the nvminal party in such prv�e�dingr but Lender shall be entitled to
<br /> participate in the proceeding and ta be represented in the proce�ding by counsel ❑f Lend�r's own Ghoice, and
<br /> Trustar will deli�er, ❑r cause ta b� deli�ered, t❑ L�nder such instruments as Lender may request fram time to time
<br /> ta permit suGh participat�on.
<br /> Compiiance With Laws. Trustor warrants that the Property and Trustor's usQ vf the Pr�perty cvmplies with all
<br /> existin� app��cahle �aws, ordinances, and regulations ❑#go�ernmental autharities.
<br /> 5ur�i�al of Representations and Warranties. All repr�sentattans, warranties, and agreements made by Trustor in
<br /> this ❑�ed vf Trust shall sur�i�e the execu#i�n and deli�ery of this ❑eed af Trust, shall be continuing �n nature, and
<br /> shall remain in fui� fflrce and effect until such time as Trustor's lndehtedness shall he paid in ful�.
<br /> EI�ISTIN� Il11DEBTEDNE55. The fo�lawing pra�isions can�err�ing Ex3sting 4ndebtedness are a part of this ❑eed vf Trust:
<br /> Existing Lien. The lien �f this D��d vf Trust securing the Indebt�dness may be se�andary and infer�or t❑ an
<br /> ex�sting fien. Trusto� expressly co�enan�s and agrees t❑ pay, vr see to the payment of, the Existing Indebtedness
<br /> and tv pre�ent any default t�n such indebtedness, any default under the instruments e�idencing such indebtedness,
<br /> or any default under any security documents far such indebtedness.
<br /> No Mvdificati�n. Trustor shall not enter inta any agreement with th� holder af any mvrtgage, deed of trust, or
<br /> vther security agreement which has priority ❑��r this Deed of Trust by which tha� agreement is madified,
<br /> amended, extended, or renewed without the prior written cvnsent of Lender. Trustvr shall neither request nor
<br /> accept any future ad�ances under any such security agr��ment withvut the prior written cansent of Lender.
<br /> CDNDEIUINATI�N. The fvllvwing pro�isions relating to condemnation proceedings are a part of this Deed ❑�Trust:
<br /> Proc�edings. If any proceeding in condemnati�n is filed, Trustvr shall promptfy n�tify Lender in writing, and
<br /> Trustor shall promptly take such steps as may be necessary ta detend the action and �btain the award. Trustor
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