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2� 17��854
<br /> DEED �F TRUST
<br /> Loan Nv: ��'i��Z14'I �Cont��ued� Page 4
<br /> Application of Proceeds, Trustar sha�� prompt�y noti�y Lender of any loss or damage fi❑ the Property. Lender may
<br /> make proaf of loss i� Trustor fails to do so wi�hin fif��en {�5} days af the casualty. Whe�kher �r not Lender's
<br /> security is impaired, Lender may, at Lender's ele�tivn, recei�e and �etain the proceeds o�any insurance and apply
<br /> the proceeds �❑ the reduction of-�he �nde�tedness, paym�n� ❑f any lien affect�ng the Property, or the restoratian
<br /> and repair a�the Proper�y. I� Lender efec�s �o apply the proceeds �❑ restoration and repair, Trustor shall repair ar
<br /> replace �he damaged ❑r des�royed �mpro�emen�s in a manner satis�acfiory tv Lender. Lender shall, upvn
<br /> sa�isfactory proo-� o� such expenditur�, pay ❑r reimburse Trus�or firom the prv�eeds for the reasanable cost ❑f
<br /> rspair or restora�ivn ifi Trustor is not in de�Fault under this ❑eed of Trus�. Any proce�ds which ha�e not heen
<br /> disbursed wi�hin �8D days after their receipt and which Lender has no� cvmmitted to the repair or restvra�ion of
<br /> the Property shall be used �irs�to pay any amounfi awing tv Lender under this De�d ❑�Trust, fihen to pay accrued
<br /> infierest, and the remainder, if any, shall be applied to the principal balance af the indebtedness. If Lender holds
<br /> any pr��eeds afker paymen� in �ull ❑f �he lndehtedness, su�h proceeds shall be paid to Trustar as Trust�r's
<br /> interes�s may appear.
<br /> Trus�or's Report on Insurance. l]pon requesfi af Lender, hvwe�er n�� mare than ❑nce a year, Trustvr shall �Furnish
<br /> to Lender a repo�t ❑n each exist�ng po�icy ❑f insurance shawing; ��} �he name of the insu�er; �2} the risks
<br /> insured; 43} the amaunt ❑f �he poli�y; �4} the prvperty insured, �he then curren� replacemenfi �alue o� such
<br /> property, and the manner❑�de�ermining �hat�alue; and �5� the expira�ian da�e o�fihe policy. Trus�tor shall, upvn
<br /> request❑f Lender, ha�e an independen�appraiser-satisfacfiory�❑ Lender determine�he cash�a�ue replacement cos�
<br /> ❑�F�he Property.
<br /> LEN�ER'S E�PENDiTURES. I�any actian ❑r praceeding is �ommenced�hat would mater�ally a��ect Lender's in�eres� in
<br /> th� Proper�y ❑r E-�Trustor fails �a comply with any pro�isian of this Deed a�Trusfi or any Related ❑ocumen�s, inc�uding
<br /> laut nofi limited to Trustor's �ailure ta discharge vr pay when due any amounts Trustor is required to discharge vr pay
<br /> under this I�eed ❑f Trus�or any Related �acumen�s, Lender on Trustor's �ehalfi may {but shall no� be ❑b[igated�ko} take
<br /> any ac�ion thafi Lender deems appropriate, in�luding �u� nat limited to discharging or paying all �axes, liens, se�uri�y
<br /> interests, encumbrances and o�her claims, at any�ime �e�ied ❑r placed on the Praperty and paying all c�s�s for insuring,
<br /> maintaining and preser��ng fihe Pr�perty. All such expenditures incurred �r paid �y L�nder�or such purposes will then
<br /> hear in�erest a�the rate charged under the No�e from the date incurred ar paid by Lender�❑ the da�e ❑� repayment by
<br /> Trustor. All such expenses wi�l becvme a part of the Indebtedness and, at Lend�r's optivn, will �A} be payable �n
<br /> demand; {B} he added tv the balance v-� the No�e and be appvrtioned among and be payable wfth any ins�allmen�
<br /> payments fi❑ beGome due during e�ther ��} the term ofi any appli�able insurance policy; or {2� the remaining fie�m ��
<br /> the Nv�e; ❑r �C} be treated as a balloan payment which will �e due and payahle at fihe Nv�e's maturity. Th� ❑eed �fi
<br /> Trus� also will secure paymenfi ❑f these amoun�s. Such �-ight shall be in additian to all other righ�s and remed�es fiv
<br /> which Lender may�e entitled upan Defauft.
<br /> VIlARRANTY; DEFENSE�F T1TLE. The�fo�lowing pro�isions re�ating fio ownership of the Proper�y are a part of this ❑eed
<br /> of Trust:
<br /> Ti�ie. Trus�or warran�s that: �a� Trus�or holds goad and marketab[e �itle ❑f record �o the Praperty in fee simple,
<br /> �ree and �lear of all liens and encumbrances ❑th�r than �hose set for�h in �he Real Prope�ty description ❑r in any
<br /> ���le insurance policy, titls repvrfi, or �inal ti�le opinion issued in �a�vr of, and a�c�p�ed hy, Lender in cvnnection
<br /> with�his L�eed �f Trust, and �b}T�ustor has the-�u�� right, power, and authvrity ta execute and deli�er this Deed of
<br /> Trust to Lend�r.
<br /> De�ense o�Ti�le. 5ubjec� -�❑ the exception in the paragraph aba�e, Trustvr warrants and wi[! forever de�end the
<br /> �i�le to fihe Proper�y aga�nsfi the lawful c�aims o�all persans. ln�he e�ent any a�fiion or prvice�ding is commen�ed
<br /> tha�questions Trustor's titl�or the interest vf Trustee or Lender under th�s �]eed ❑f Trust,Trustor sha�l defiend the
<br /> action at Trustor's expense. Trustar may be the nominal party in such proceeding, but Lender shall be entitled to
<br /> participate in �khe proceeding and to 1ae r�presented in the prvGeedEng by �ounsel of L�nder`s vwn chvi�e, and
<br /> Trustor will deli�e�-, or cause�o be deliWered, �a Lende�- such instruments as Lender may r�quesfi��om fiime fio time
<br /> t❑permit such parfiicipafiion.
<br /> Cvmpiiance 11Ui�h Laws. T�us�ar warran�s that the �raperty and Trustor's use af the Property complies wi�h a�!
<br /> exis�ing applicable laws, ardinances, and regulativns��gavernmentai authorities.
<br /> Sur►rivai af Representa�ivns and 1Narranties. All representa�ivns, warranties, and agreements made by Trus�or in
<br /> this ❑eed af Trust shall sur�ive�he execution and deli�ery a��his Deed ❑f Trust, shall be continuEng in nature, and
<br /> shall remain in�ufl fvrce and effect until such�ime as Trustvr`s Indebtedness sha�! be paid in�ull.
<br /> CDNDEMNAT��N. The fvllow�ng pro�isions relating ta condemna�ion prviceedings are a part af�khis �eed of Trust:
<br /> Proceed�ngs. I� any praceeding in condemnafiian is �iled, Trustor shall promp�ly nv�ify Lender in writing, and
<br /> Trus�vr shall promptly take such s�eps as may he necessary to defend the actian and obtain �khe award. Trus�or
<br /> may be�he nominaE party in such praceeding, but Lender shall !�e en�it�ed ta participate in the praceeding and tv be
<br /> repr�sen�ed in the prv�eeding hy cvunse� ❑f i�s own chai�e, and Trus�ar will deEi�er vr cause to be deli��red �o
<br /> Lender such instrumen�s and documentation as may be reques�ed hy Lender from time to �ime fio permi� such
<br /> parfiicipativn.
<br /> Appli�ation vf Net Prviceeds. I�all ❑r any par�of the Pr�perty is condemn�d 1ay eminent doma�n proceedings or by
<br /> any proceedEng ❑r purchase En lieu of condemna�ion, Lender may afi its election require that all ❑r any parfitvn❑f the
<br /> nefi proceeds of the award I�e app�ied to the lndehtedness or the repair or restoration af the Praperty. The nefi
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