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2� 17��45 DEED �F TRUST Loan No: '!�'i 3�U�� Continued} Page 4 Main#enance of �nsurance. Trus�or shall procure and maintain pvlicies of �ire insuran�e with standard extended �aWerage endorsements on a fair �alue basis �or the full insurabie �alue co�ering all Impro�ements on �he Real Property in an amaunt sufficient t❑ a�oid appli�ation o# any cainsurance clause, and with a s#andard mflrtgagee clause in ta�ar�fi Lender. Trus�vr sha�� also procure and maEntain camprehensi�e general Eiabi[ity insurance in such co�erage amounts as Lender may request with Trustee and Lender being named as additEonal Ensureds in such liabili�y insurance p�li�ies. Additi�nal�y, Trust�r shal[ maintain such ❑ther insurance, including but not �imified to hazard, business interruptEon, artd boifer insurance, as Lender may reasonab[y r�quire. Policies shall be.written in �orm, amounts, �o�erages and basis �-easflna�ly acceptable �o Lender and issued by a �ompany or campanies reasanably acc�ptable to Lender. Trus�or, upon request o� Lender, will de�i�e�- -�o Lender from time t❑ time �he po[icies ❑r certificates of insurance in farm satisfac�ory to Lender, inc�uding stipulativns �ha� c��erages will na� be �ancelfed ❑r diminished wi�haut at leas� ten �1�} days prior vuritten no�ice to Lender. Each insurance pa�icy also shall include an end�rsemen�pro�i�ling that co�erage in#a�or❑f Lender wiI[ nat be impaired in any way by any ac�, amissi�n or de�ault ❑f Trustar or any other person. Shouid the ReaE Property be loca�ed in an area designated by �he Administratvr o��h� Federa[ Emergency Managemen�Agency as a speciai flvod hazard area, Trustor agrees to ❑btain and main�ain Federa� Flood Insurance, if a�ailable, within 45 days af�er na�ice is gi�en by Lender tha� the Property is located in a special�lood hazard area, #or the fiull unpaid principa� baEance of the iaan and any privr[iens ❑n�he property s�curing fihe loan, up tfl the maximum policy limits set under fihe Nationa[ F[�od Insuran�e Program, or as❑therw�se required by Lender, and to maintain such insurance for the term of the loan. Appiication of Proceeds. Trustor shall prompt[y no�ify Lender ❑f any ioss or damage t❑ �he Praper�y. Lender may make prvof of loss if Trustar fails t❑ d❑ so within �ifteen ��5� days ❑f the casualty. Whether or nat Lender's security is impaired, Lender may, at L�nder's elec#ion, �-ecei�e and retain th� proceeds o� any insurance and app�y th� proceeds ta the reductian ❑f the �ndebtedness, paymen� of any Iien aff�cting the Property, ❑r fihe r�s�orati�n and repair ❑f�he Property. I� L�nder elec�s to apply the praceeds ta r�st�ration and repair, Trustor shall repair or replace the damaged or destroyed �mpro��men�s in a manner satisfac�ory t❑ Lender. Lender sha��, upan satisfactory proof ❑fi such expendifiure, pay ❑r reimburse Trustor from the prac�eds for fihe reasonable cvst v� repair ❑r restoration if Trusfior is not in de�Fau[t under fihis ❑eed �� Trust. Any prflceeds which ha�e nvt been disbursed within 18� days a�ter �heir receip� and which Lender has not �ammEtted to the repair �r restvrat�on of the Praperty shall be used �irst to pay any amount ❑wing ta Lender under this Deed of Trus�, then to pay accrued interest, and the remainder, if any, shall be applied �o �he principal balance ot the Indebtedness. �f Lend�r ho�ds any proceeds a�ter payment in full of �he Endeb�edness, such praceeds shall be paid tv Trustor as Trus�or's int�rests may appear. Trustor's Report vn Insurance. Up�n request of L�nder, howeWer not more than vnce a year, Trustor sha�� furnish t❑ Lende� a �-epvrt vn ea�h existing policy ofi insurance shawing: {�} fihe name of th� insurer; ��} the risks insur�d; �3} the amoun�t ot the poEicy; �4� �he property insured, the th�n curren� replacement �ra�ue ofi such property, and �he manner of d��erminEng that�aiue; and {5y the expiration date o�F the p�licy. Trustvr shall, upon requ�s��Lender, ha�e an independent appraiser sa�isfiaGtory�o Lender determine the cash�a[ue repEacement cost ❑f�he Property. LENDER'S E�CPENDITURES. lf any action or proceeding is cammenced that wauld materially af�ec� Lend�r's in�eres�t in the Property or if Trustor fails f❑ camply with any prv�ision ❑�this Deed ❑f Trust or any Rela�ed aacuments, inciuding but not Eimited ta Trustor's �ailure t❑ discharge ❑r pay when due any amounts Trustor is required to discharge or pay under this ❑eed o�Trus�k❑r any Related Do�umen�s, Lender on Trustor's behalf may �but shall n�t be obligated tof take any actian �ha� L�nder deems appropriate, incfuding but no� limi#ed to d�scharging ❑r paying all taxes, li�ns, security interests, encumbrances and ❑�her c�aims, at any time IeWied or placed on the Prop�rty and paying all casts for insuring, maintaining and preser�ing fhe Property. A�� such expenditures incurred or paid by Lender�vr such purpases wi�l �hen bear in�eres� at the rate charged under the Nvt� from the date incurred or paid by Lender to the date o# repayment by Trus�or. AfE such expenses will become a par� of �he indebtedn�ss and, at Lender'� vptivn, will �A� be payable on �l�mand; �B� be added �a the balance of �he No�e and be appartivned amang and be payable wi�h any installment payments to became due during either �1 y the term af any appficable insurance poi#cy; or �2} the remaining �erm ❑� �he Note; or �Cy he �rea�ed as a ball��n paymenfi which will he due and payab�e at the Nvte's maturity. The Deed o� Trust a�so will secure payment �f �hese amvunts. Such right shal� be in addition �❑ all other rights and remedies to which Lender may be entitled upon ❑efiault. VIlARRANTY; �EFENSE�F TITLE. The following prfl�isions reEating tv vwnership❑f�he Property are a part of�h�s Deed of Trust: Tit[e. Trustor warrants that: �a� Trustor h�[ds good and marketabie ti�le of record to the Prvperty in fee simple, free and clear of aIl [iens and encumbrances other than �hose set �orth in �he Rea� Property d�scriptian ❑r in any title insurance policy, titte repflrt, ❑r �ina� tifile opinion issued in �avor af, and accepted I�y, Lender in connection with this Deed ❑#Trust, and {by Trustor has the�ul! right, power, and au�horifiy to execute and deli�er this ❑eed vf Trust to Lender. Defense of Title. Subjecfi tv the exc�pt�on in the paragraph abo�e, Trus�or warrants and will f�re�er d�fend the fiitle to the Praperty against the lawtu[ c[aims ❑� all pers�ns. In the e�en� any ac�ivn or proceeding is commenced that questions Trustor's �i�le or the infierest❑�Trustee or Lender under�his Deed o�Trust, Trustor sha�[ defend �h� act�an at Trusfio�'s expense. Trustar may he �he nominal party in such prv��eding, but Lender shall be entitled t� participate in the p�viceeding and t� be represented in �he proceeding by counsel ❑f Lender's own chaice, and Trustflr will deli�er, or cause '�❑ be deli�ered, t❑ Lend�r such instruments as Lender may request�ram time to �ime