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2� 17��7�2
<br /> DEED �F TRUST
<br /> Lvan Nv: 1�13��'��4 �Continued} Page 4
<br /> sa�isfactary proo� ❑f such e�€penditure, pay ❑r reimburse Trustor fram the prv�eeds -�or the reasonable cos� af
<br /> repair vr restvra�ion if Trusfiar is nvt in de�aul� under this Deed ❑f Trust. Any proceeds whi�h haWe no� been
<br /> dFsbursed wi�hin �8a days after their receip� and which Lender has nofi cvmmitted �o the repa�r or restorat�on af
<br /> the Property shall 1ae used firs�to pay any amvunt awing ta Lender under this �eed o�Trust, then ta �ay accrued
<br /> interest, and �he remainder, if any, shall be applied to �the principa� balance ��the Indeb�edness. I� Lender holds
<br /> any proceeds after payment in �ull vf the Inde��edness� such proceeds shall be paid ta Trustor as Trustor's
<br /> interests may appear.
<br /> Compliance with Exist�ng Indeh�edness. ❑uring the perivd in which any Existing lnde�fiedness described below is
<br /> in effec�, compliance with �he insurance pro�isions cantained in the instrument e�idencing such Existing
<br /> lndebfiedness shall consti�u�e campliancs with the insurance pro�isions under this Deed of Trust, fio th� ex��nt
<br /> complian�e with �he terms ot this D�ed ❑�T�us� wou�d cons�itute a duplicati�n ❑f insurance r�quirement. !f any
<br /> praceeds from �he insurance become payable on �oss, the pro��sions in this Deed o�Trus�for di�ision ❑f prviceeds
<br /> shal� apply anly to that portion❑f�he praceeds nat payable�o the halder❑f�h� Exist�ng lndebtedness.
<br /> Trustar's Report on �nsurance. Upvn reques� ❑t Lende�-, hawe�er not more than ❑nce a year, Trustor shall fiurnish
<br /> �❑ Lender a repo�t on each ex�sting policy ❑f �nsurance shawing: {�� �he name a� the insurer; �2} the risks
<br /> insured; {3} the amount af the pvlicy; �4� the praperty insured, �he then current repla�ement Walue a� such
<br /> praperty, and the manner�f determining that�alue; and �5� �he expiration date of the p�li�y. Trustor sha��� upan
<br /> reques���f Lender, ha�e an independent appraiser satisfactvey�o Lender de�ermine the cash Walue rep�acement cvst
<br /> of the Praperty.
<br /> LENDER'S EXPENDITURES. If any action or proceeding is cammenced that would materially affect Lender's interest in
<br /> the Property ❑r i�f Trusfiar fai�s to cvmply with any pro�isian vf this Deed of Trus� or any Related Dvcuments, inc�uding
<br /> but nat limited tv Trustvr's fa�lure to camp�y wi�h any alaligat�on fiv maintain Exis�ing Indeb�edness �n good standing as
<br /> required belaw, or tv discharge or pay when due any amoun�s Trus�or is required�a discharge or pay under�his aeed of
<br /> Trust or any Re[ated Documents, Lender on Trustor's behal�F inay �but shaif no�k be obligated �o� take any acfiivn that
<br /> Lender deems approp�iate, including bu� no� limi�ed to discharging ar paying a[[ tax�s, liens, securi�y interests,
<br /> encumbrances and o�her claims, at any time levied or placed vn the Proper�y and paying a!� cvsts far- insuring,
<br /> main�aining and preser��ng the Proper�y. All such expendEtures incurred ❑r paid by Lende��or such purpases wi�E th�n
<br /> b�ar interes� at the rate charged under�he N�te firom the da�e incurred or paid by Lender to �he date ❑� repayment by
<br /> Trus�or. All such expenses wifl become a par� ❑f the lndebtedness and, a� Lender's optian, will {A} �� payable on
<br /> demand; �6} be added to �he balance of fihe Note and be appor�ioned among and be payable with any installment
<br /> payments �v became due during either �1} the term af any applicable insuran�e policy; ❑r �2} �he r�maining term of
<br /> �he Note; or �C} be treated as a balloon payment whi�h will be due and payabl� at fihe Nv�e's maturity. The I�eed of
<br /> Trusfi also will secure payment ❑f these amounts. 5uch ri�h� shail be in addition t� all other rights and remedies ta
<br /> which Lende�-may be ent�tled upan Default.
<br /> WARRANTY; DEFENSE�F T1TLE, The fiollowing prv�isions re[ating t❑ ❑wnership af the Proper�y are a part❑f th�s Deed
<br /> af Trust:
<br /> Ti�le. Trustvr warrants �hat: �a} Trustar holds goad and markefiable �itle v� recvrd �❑ �he Proper�y in fee simple,
<br /> free and clear o-� a�f Itens and encumbrances �ther than �hose set�orth in the Real Praperty descrip�ion �r in the
<br /> Existing lndeb�kedness sectton 1�e�ow vr in any�itle �nsuran�e poli�y, title report, ❑r final tEtle vpinivn issued in fa��r
<br /> ��, and acc�pted by, Lender in cvnnection with fihis Deed ofi Trust, and �b� Trustar has the full r�ght, pawer, and
<br /> authorifiy fia execute and deli�er�his I�eed o�Trus�tv Lender.
<br /> De�ense of Title, Subject to the excep�ion in the paragraph ahv�e, Trustor warrants and will fa�-e�er de�end fihe
<br /> ti�le tn�he Property against the law�uf �laims o�all persons. In the event any acfiian ar proceeding is �ommenced
<br /> that questions Trustvr`s title or the interest❑f Trustee or L�nder under this ❑eed of Trust,Trustor sha�i d�fend the
<br /> ac�ion a�Trus�ar's expense. Trus�or may be�he nominal party in such praceeding, but Lender shall be enti�led�❑
<br /> participate in the proceeding and tv be represenfied in the pro�eeding by counsel o� Lender's awn chnice, and
<br /> Trustor will deliver, or �ause to he deli�ered, to Lender su�h ins�ruments as Lender may request�ram�ime fi❑time
<br /> �❑ permit such par�ic�pativn.
<br /> Cvmplian�e With Laws. Trustvr warrants tha� the Property and Trustor's use vf fihe Property complies with all
<br /> exis�ing appl�cable laws, ordinances, and regulatians ❑f ga�ernmental au�hvri�ies.
<br /> Sur►rival vf Represen�ativns and 1Jllarran�ies. All representa�ions, warrant�es, and agreements made by Trusto�- in
<br /> this ❑eed af Trust sha11 sur�i�e the execution and deli��ry v��his I�eed of Trus�, sha!! be continuing in nature, and
<br /> shall remain in�ull�far�e and e��ec�unt�i such fiime as Trust�r's [ndeb��dness shall be paid in�ull.
<br /> EXlSTING �NDEBTEDNESS. The following pr��isions concerning Existing lndel�tedness are a par�of this �eed of Trust:
<br /> Existing Lien. The lien ❑f �his Deed of Trust securing the Indebtedness may be secvndary and in�erivr �v an
<br /> ex�sting lien. Trus�or expressly covenan�s and agrees tv pay, ❑r see�v the payment❑f, �he Existing Indebtedness
<br /> and t❑ pr��ent any default on such indebtedness, any default under�he instruments e�idencing su�h indebtedness,
<br /> �r any default under any security documenfis fvr su�h indebtedness.
<br /> Nv Madi�icativn. Trustor sha11 not enter int� any agreement with fihe hvlder v� any mflrtgage, d�ed ❑f t�ust, ❑r
<br /> ❑ther security agreem�n� whi�h has prio�-ity ❑�er �his Deed a� Trust by which �hat agreement is modified,
<br /> amended, extended, ❑r renewed withau� the pri�r wri�ten consent o� Lender. Trus�or sha[l neither requesfi nor
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