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2� 17��493
<br /> C]EE[� �F T�L��T`
<br /> �
<br /> Lc�an Na: 1�13�1�8� ���3����u�d� P'age 4
<br /> App[ica#ivn af Prv��eds. Trus�or sha�I prvmp�ly noti�y L�nder�f any loss ❑r d�ma�e �o the �'roperty, Lender may
<br /> make prvo� v� [oss if Trusfior fails �o do sa within �if�een ��5} days �� the casualty. Vllheth�r or not Lender's
<br /> security is impair�d, �.er�der may, a� Lender�s electivn, rece�ve and re�ain the proceeds ❑f any insurance and apply
<br /> �he proceeds �v �h� reduc�ian vfi the Indeb��dr�ess, paymen� ofi any (i�n affec��ng the Praperty, vr the res�vratian
<br /> and repair ❑f the Prvperty. lt Lender elects to apply t�e prv���ds �o restoration and rspair, Trustar shal! r�pair vr
<br /> rep[ace �he damaged or d�stroyed Impra�em�nts in a manner s�tisf�ctvey t� Lender. Lender shall, upon
<br /> sa�is�ac�vey proaf ❑� 5uch ��p�nditure, pay or reim�urse Trus�or �ram the pr�ceeds �vr �he reasanab�e CaS� ��
<br /> �epair ❑r restorati�n i� Trustar is r�at in default under fihis D�ed �� Trust. Any proceeds whi�h ha�� ntit been
<br /> d�sburs�d within �8q days af�e� their receip� and whi�h Lend�r has not commi��e� t❑ the repair ar re�tvra�ian ❑�
<br /> t�e Praperty sha11 be u�s�d �irs� �a pay any amaun�❑vv�ng to Lender und�r�his Deed ofi Trust; fihen �❑ pay a�crued
<br /> in�terest, and th� rerr�ainde�� if any, sha�l be appiied to �he principa{ balance of the Indeb�edness. I� Lender halds
<br /> any �rc�ceeds after pa�ment in �ull �� the lndebtedness, �uch prflceeds shaf[ be paid to Trust�r as Trus�ar's
<br /> in�erests may appear.
<br /> Trustvr's Report o�n lnsurance. Upon request o�f Lender; ho►n�euer no� more than �nce a year, Trustar shall furnish
<br /> ta Lender a report an ea�h existing pali�y o�F insuranc� showing: �1� �he n�me of the insurer; ��� the risks
<br /> insure�; �3� the amount af �he palicy; �4� �the praperty in�ured, the �hen current replacement �a�ue of such
<br /> property, and�he mann�r❑fi de�ermining that�alue; ar�d �5) �he expira�ian date o�F�h� pvlicy. 7r�rs�or shall, upan
<br /> request af Lender, ha�e an inde�endent appraiser s�tis�a���ry�Q Lender determine�he cash �alue �eplacemen�cast
<br /> v�ti�e Proper�y,
<br /> LEiV�ER'S E�CPEND[TURES. If any ac�ion �r prvice�ding is commen�ed that would ma�erially affect L�nder's interest in
<br /> the Prop�rty ar ��Trustv�fails to cvr-r-rply with any pro�isian a�this Deed ❑f Trus� or any Relafed ❑ocumen�s, including
<br /> bu�t n�t limi�ted to Trust�r's ��ilure �v d'€scharg� or pa� when due any amounts Trus�ar €s required �a discharge or pay
<br /> under th�is Dee� of Trus�k or any Re�a�ed ❑acuments; Lender on Tr�stvr's beha(� may �bu� shall no� be �bligat�d to� take
<br /> any ac�ian that Lender deerns appropria�t�, inc��rding �ut not �imited to c�ischarging vr paying all taxes, iiens, security
<br /> interes��, encumbran�es and a�her c(aims, a� any tim� fe�ied or plac�� vn�he Proper�ty and paying all cos�s for insuring,
<br /> maintaining and preser�inc� the Proper�y. A[[ such expendi'�ures in�ur�ed or paid by Lender �ar such purpvses will �hen
<br /> b�ar int�rest at t�re rate char�ed und�r the Na�e �rarr� �h� date in�urred or paid by Lender tv �h� da�e of repayment �y
<br /> Trustar. A�� su�h expenses will becvme a part �� the [ndeb��dnes� an�, at Lender`s ❑p�ion, wi�� �A} be payab�e on
<br /> demand; `{B� be added t� the balance ❑f the Note and be �pportivned among and �e payable with any installment
<br /> paym�nts �o became �u� du�ing either ��� the �erm of any applicable insurance pa�i�y; or ��} the remaining term a�
<br /> the Na�e; or ��} be �rea�ed as a ba[[oon payment wh��h will �e du� and payable at '�he Note's maturi�y, The Deed af
<br /> Trust also will secure paymen� o�F these �maun�s. Su�h right �hall be in addition to all ather rights and remedies tv
<br /> which Lender may be en�i'�led upon Defauf�.
<br /> �JVARRAL�TV; DEFEIVSE�F TITLE, The fallowing pra�isions rela�ing t� awnership❑��he Pr�perty are a p�rt of�his ❑�ed
<br /> of Trus�:
<br /> Tifile. Tru��ar warrants xhat: �a} Trustvr halds �v�d and mark�ta��e ti�ie o� recard ta �he Prvp�rty in fee simple,
<br /> free and ��ear ❑� all [iens and encumbrar�ces v�her than �hvse set forth in �he Real Proper�y description ❑r in any
<br /> �it(e insurance pv[icy, ti�le report, �r �inal �i�le apinion issued in �a�rar nt, and accepted by, Lender in cvnne��ion
<br /> with�his �eed vf Trust, and �b� Trustor�as the full right, pvtrver, and authari�y�v execute and deliver�his Deed of
<br /> Trus��a Lender.
<br /> De�ense o# Title. Subject t� the exception in the paragraph a�o��, Trustar wa�rants and wii[ fare�er d�fen� the
<br /> tit�e t❑ �h� Praperty against the lawfui �laims a� all persons. 1n the ��ent any a�tion ar praceeding is commenced
<br /> �ha�ques�ians Trustar's �itle �r the interes�a�Trustee vr Lender under this �3�ed af Trust, Trustor sha�l defend the
<br /> a��ion a�Tru��or"s expen��. Trustor may be �1�e nomina� party in such pr�ceeding, bu� Lender shall he �n�it�ed to
<br /> participate in �he prvc�eding and �o be r�p�esen�ed in �h� prc�ceeding �y counsel af Lende�-'s own chaice, and
<br /> Trus�vr will d�Ii�er, �r cause t� be d�eli�ered, to Lender suGh in�truments as Lender may requ�s�fram time t� �ime
<br /> �o permit�uch participa�iQn.
<br /> Compliance �lVifih Laws. Trus�ar warrants that �he Property and Trust�r's use of �he Property c�mplies vvi�h all
<br /> �xi�ting ap�licab[e �aws, ❑rdinan�es, and reguiatians o�governm�n�al authvrifiies.
<br /> SurWi�ral af Representat�ons and 1i�llarranti�s. All representafiions, �rvarran�ies, and agreements made by Trustor i�
<br /> this De�d o�Trus�sha�l survive th� ex�cu�ian and deli�ery o�F this Deed a�Trus�, shaf[ be cvn�inuing in na�ure, and
<br /> shall r�rnain in fuli force and e�fect un�il such time as Trus��r`s Indebt�dness sha�! be pa�d in fu[I.
<br /> C�NDE�111VAT�DN. The�ollowing pra�isi�ns relating ta canc�emnati�n proceedings are a part of this Deed af Trust:
<br /> Proceedings. I� any prviceea�ing in cvndemnativn is filed, Trustor shall prompt�y noti�y Lender in wri�ing, and
<br /> Trus�ar shall pramp�[y tak� such s�eps as may be nece$sary ta de#end the act�an and ohtain �he award. Trus�vr
<br /> may be the naminal par�y in such proc�edin�, hut Lender shalC be entitled ta participate in�he praceeding and�o be
<br /> ��presented in �he proceeding by �aun��l o� i�s own chaice, ar�d Trustc�r will de�i�er or cause tv be de���ered to
<br /> ��nder such insfirum�n�s and documenta�ion as may be requested by Lender from �ime ta time �o perrnit such
<br /> participation:
<br /> Applica�io�n c�f IVet Proceeds. if�11 a�any par�of the Property i� cvnder�n�d by eminen'�domain proceedings or hy
<br /> any praceeding or pu�Chase in Iieu af condemnation, �:ender may at i't�efectivn require tha�a(� or any por�ion ❑f the
<br /> ne� �ra��eds ofi the award h� applied �a �he lndeb�edness �r �he r�pa�r �r restvration of �he Property. The net
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