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2� 17��453
<br /> DEED �F TRUST
<br /> Loan No: 'i�'i 3�'I 58� �Contin ued� Page 4
<br /> hazard, �usiness interruption, and bvil�r insurance, as Lender may reasonably require. Polictes shall be written in
<br /> form, amounts, cv�erages and basis reasvnably acceptable to Lender and issued hy a �ompany ar companies
<br /> reasonably acceptable to Lender. Trustor, upon request vf Lender, will de�+�er to Lender fram time to time the
<br /> policies ar certificates of insurance in form satistactary to Lender, including stipu#ations that ca�erages will not he
<br /> cancelled or diminished withaut at least ten {1�} days prior written natice t❑ Lender. Each insurance palicy also
<br /> sha�i includ� an endarsement pro�iding that�o��rage in fa�or af L�nder will not b� impaired in any way by any act,
<br /> amission or defaul� ❑f Trustor vr any ather person, Shauld the Real Prop�rty be located in an area designated by
<br /> the Adminis�rator ❑f the Federal Emergen�y CVlanag�ment Agen�y as a speciai flood hazard area, Trustor agrees ta
<br /> obtain and maintain Federal Flavd Insuran�e, if a�ailable, fvr the full unpaid principal balance o� the loan and any
<br /> prior liens ❑n the property securing the laan, up ta the maximum poiicy limits set under the Nativnal Flvod
<br /> f nsuran�e Program, or as otherwis� required by Lender, and ta maintain such insuran�e fvr the term ot the Ioan.
<br /> Applicati�n of Proceeds. Trustor shall promptfy natify Lender af any I�ss or damage t❑ the Property. Lender may
<br /> make proo� vf loss if Trustor fails to do s❑ within fi#te�n �15} days of the casual�y. Whether ❑r nat Lender's
<br /> security is impaired, Lender may� at Lender's election, recei�e and r�tain the proc�eds ❑f any insuranc� and apply
<br /> th� proceeds fio �he reduction ❑� the Indebtedness, payment of any lien afife�ting the Property, or the restora�i�n
<br /> and repair of the Praperty. !f Lender elects to apply �the praceeds ta restaration and r�pair, Trustor shall repair �r
<br /> replace the damaged or dest�ayed Impro�ements in a manner satisfact�ry t❑ Lender. Lende� shall, upon
<br /> satisfactory prao'f of such expenditure, pay or �eimburse Trustor from the proceeds #or the r�asvnable cost of
<br /> repair or restoration if Trustor is nat +n default under this Deed ❑f Trust. Any proceeds which ha�e not been
<br /> disbursed within 18� days after their receipt and which Lender has nat committed to the r�pair or restaratian ❑f
<br /> the Property shall be used first t❑ pay any amount owing to Lend�r under this Deed of Trust, then ta pay ac�rued
<br /> interest, and the remainder, if any, shall be applied to the principa! balance af the lndebt�dness. If Lender halds
<br /> any proceeds after payment in fui� af the lndehtedness, such proceeds shall be paid t❑ Trust�r as Trustor's
<br /> interests may appear.
<br /> Campliance wfth Existing Indebtedness. During the periad in which any Existing Indebtedness describ�d below is
<br /> in effsct, compliance with the insurance prv�isions contained in the instrument e�idencing su�h Existing
<br /> Indebtedness shall constitute compliance with th� insurance pto�isi�ns under this Deed vf Trust, t❑ the extent
<br /> cvmpliance with the terms of this Deed af Trust would c�nstitute a duplicatian of insurance requirement. If any
<br /> proceeds from the insurance b�c�me payable on �oss, the pro�isians in this Deed of Trus� fvr di�ision of pra��eds
<br /> shall apply only t�that portion of the proceeds not payable ta the hold�r❑f the Existing Indebtedn�ss.
<br /> Trustvr's Report on lnsurance. Upon request of Lender, howe�er n�t mare than ❑nce a year, Trus�ar shali furnish
<br /> to Lender a repart an ea�h existing policy of insurance showing: �1} the name ❑f the insurer; f 2y the risks
<br /> insured; �3y the amaunt of th� palicy; �4} the property insured, the then curr�nt replacement �alue ❑f such
<br /> property, and the manner of determining that �aiue; and �5� the expiration date af the policy. Trustc�r shall, upon
<br /> requ�st af L�nder, ha�e an independ�nt appraiser satisfactory to Lender d�termine the cash �alue replacement cost
<br /> of the Property.
<br /> LENDER'S E�CPENDITURES. If any action �r proceeding is commenced that wauld mat�rially affe�t L�nder's intersst in
<br /> the Praperty ar i# Trustar fails to comply with any pr��isivn of this Deed vf Trust or any Related Do�uments, inciuding
<br /> but not limited t� Trustar's failure t❑ comp�y with any �b�igation to maintain Existing lndebtedness in gvad standing as
<br /> requ�red below, or t❑ discharge �r pay when due any amounts Trustar is required ta discharge vr pay und�r this Deed of
<br /> Trust or any Related Dvcuments, Lender vn Trustar's behalfi may ��ut shall not be obfigated tv� take any actian that
<br /> Lende� deems appropriate, including but n�t limited ta dis�harging ❑r paying afl taxes, liens, security interests,
<br /> encumbran�es and other c�aims, at any time le�ied �r placed on the Property and paying all costs for insuring,
<br /> maintair�ing and �reser�ing the Pro�erty. All such expenditures incurred or paid by Lender far such purpvses wi11 then
<br /> hear interest at the rate charged under the Nvte from the date incurred or paid by Lender to the date of repayment by
<br /> Trustor. All such expenses will bec�me a part of the Indebtedness and, at Lender's vpt�on, wili �A� be payat�le on
<br /> demand; {By be added to the balance of the Nnte and be apportioned amang and he payable with any installm�nt
<br /> payments tv becom� due during eith�r �1 y the term �t any applicable insurance p�ficy; a� ��} the remaining term af
<br /> the Not�; or ��} be treated as a ballaan payment which w�ll be due and payable at the Note's maturi�y. The Deed n�
<br /> Trust also wil� �e�u�e payment of these amounts. Su�h right shaf� be in addit�on to all �ther rights and remedies to
<br /> which Lende�may be entitled upon D��auft,
<br /> WARRANTY; DEFENSE DF TITLE. Th� following pro�isions relating to �wnership vf the Property are a part of this Deed
<br /> of Trust:
<br /> Title. Trustar warrants that: ta� Trustor h�lds good and marketable title nf recofd to the Prvperty in fee simple,
<br /> free and clear ❑f all liens and encumbrances oth�r than those set farth in the Rea! Praperty d�scriptian or in the
<br /> ExFst�ng Ind�btedness sect�on �elow or in any tit�e insurance pvliGy, title repart, or final titie vpinion �ssu�d in fa�or
<br /> of, and accepted hy, Lender in G�nnection with thi� Deed of Trust, and �by Trustar has the €ull right, p�wer, and
<br /> authvrity to execute and deli�er this Qeed of Trust�o Lender.
<br /> Defense ❑f Title. Sub}ect to the exceptivn in the paragraph abo�e, Trustor warrants and will fore�er defend the
<br /> title to the Property againsx the lawful claims �f all p�rsons. In the e�ent any action or prvc�eding is �vmmenced
<br /> that questians Trustor's title ar the interest �f Trustee or Lender under this Deed af Trust, Trustor shall defend �he
<br /> action at Trustar's expense. Trustvr may be the n�minal party in such proceeding, but Lender shall be entitled to
<br /> participate in the prv��eding and to be repres�ntsd in the pro��eding by counse( ❑f L�nder's own cht�ice, and
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