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2� 17��8�3
<br /> DEEC� �F TF�UST
<br /> Loan Nv: �D�3���47 ��ontinued} Pag� 4
<br /> Applicativn vf Praceeds. Trustor shal� promptly noti�y Lender o�any loss ❑r damage to�he Property. Lender may
<br /> make praof of i�ss if Trustor fails ta do sa w�th�n fi�teen �'i 5} days vf the casualty. Whe�her or nv� Lender's
<br /> securi�y is impaired, Lender may, a� Lender's election, recei�e and re�ain the proceeds of any insu�ance and apply
<br /> �he proceeds ta the reduction ���he �ndebtedness, payment vf any lien a�ffe�ting the Praperty, or the restora�ion
<br /> and repair of the Prap�rty. I�f Lendsr elects �❑ apply�he pro�eeds �❑ restora�ion and repair, Trus�ar shall repair or
<br /> replac� the damaged or des�royed Imprv�emenfis in a manner satis�ac�vey to Lender. Lende�- shall, upon
<br /> satis�acfiory proaf of such expenditure, pay ❑r reimburse Trustor from the pro�eeds for the reasonable C05� vf
<br /> repair ar restaratian if T�ustor �s nat in default under this Deed vf Trust. Any proceeds which ha�e no� been
<br /> disbursed wi�hin 18� days after their receipt and which Lender has n�� cammi�ted tv the repair or restvrativn ❑f
<br /> �he Property sha�l bs LIS�� �ll'S��❑ pay any amount ❑wing �❑ Lender under this Deed of Trust, then �o pay accrued
<br /> in�erest, and fihe remaind�r, if any, sha�l �e appZied to the princiQal balance of the �ndebtedness. lf Lender holds
<br /> any praceeds after paymen� in �ull v� the �nde�tedness, such proceeds shall be paid to Trustor as Trus�ar's
<br /> in�erests may appear.
<br /> Trustor's Repor� on Insurance. Upon request o� Lender, hawe�er no� more �han ❑nce a year, Trustor shall furnish
<br /> ta Lender a rep�rt ❑n each existing policy o� insurance shovving: ��� �he name ❑f fihe insurer, �2} the 3'iS�fS
<br /> insur�d; {3� the amaunt �� �he policy; �4} the property insured, �he then current repiacement value o� such
<br /> proper�y, and fihe manner o�de�erm�ning that�alue; and {5� the ex�iration da�e o��he po��cy. Trus�ar shall, upon
<br /> reques�❑f Lender, ha�e an �ndependent appraiser satisfa�tory to Lender determ�ne�he cash�a�ue r-epla�ement cosfi
<br /> v�the Prvperty.
<br /> LENDER'S EXPENDITL]RES. l�F any act�on ❑r proceeding is commenced that would ma�erially af�ect Lender's interes� in
<br /> the Property or if Trustn� -�ai�s�o comply with any pro�ision o��his Deed o�Trus�t vr any Related ❑ocumen�s, in�lud�ng
<br /> but nvfi limited to Trus�vr`s failure to dischargs ❑r pay when due any amounts Trustor is required �❑ discharge ❑r pay
<br /> under�his Deed of Trus�❑r any Rela�ed ❑ocuments, Lender vn Trustvr's behalf may {but shall nvt be abligated�v� take
<br /> any actian that Lender deems apprvpriate, including but not limited to discharging or paying all taxes, liens, security
<br /> interes�s, encumbrances and flther claims, a�any�ime le�ied or placed ❑n�he Pr�perty and paying all c�s�s fvr insuring,
<br /> maintaining and preser�ing the P�operty. A�� such expendi�ures in�urred ar paid by L�nder for such purp�ses will then
<br /> bear in�eres� at the rate charged under th� Note �rvm fihe dafie incurred or paid 1ay Lender tv �he date a� repayment by
<br /> Trustor. All such expenses will becvme a part of the lndebtedness and, at Lender's ❑p�tion, will �A} be payable vn
<br /> demand; �B� be added �o the balan�e o�f �he Note and he apportioned among and be payable v+rith any ins�allment
<br /> paymen�s to becvme due during e�ther ��� the term ❑� any applicable �nsurance poli�y; or �2} the remaining �erm of
<br /> �he Nofie; or {C} be treated as a balloon payment which wil[ be due and payabEe at�he Note's maturity. The Deed of
<br /> Trust also wi�� se�ure payment of these amvunts. 5u�h right shall be in addi�ion to all ❑ther rights and remedies t❑
<br /> which Lender may be en�kitl�d upon �e�aul�.
<br /> VIJARRANTY. D���NS���TiTL�. Yhe�ollawing pro�isions rela�ing�o awne�ship o�the Praperty are a par�of this Deed
<br /> of Trust:
<br /> T�t[e, Trus�vr v+rarrants tha�: {a} Trustor holds good and markefiable fii�le o�F re�ord ta the Pr�per�y in �Fee simple,
<br /> free and clear af all liens and encumbrances other than th�se set forth in �he Real Pr�per�y descriptivn or in any
<br /> �itle insurance policy, �tifile �-epvrt, or �Final t�file opinion issued in faWar o�, and accepted by, Lende�- in cvnnect�on
<br /> with�his De�d of Trust, and �b} Trustar has�he full right, power, and au�hari�y t❑execute and deliWer this ❑eed ❑f
<br /> Trust to Lender.
<br /> De�ense a�Title. Suhject to �he excep�ion in the paragraph ab��e, Trustor warrants and will fvre�er defend the
<br /> ti�le to �he Proper�y against�he lawfu� claims o�all persans. In the eWent any ac�ion ❑r proceeding is commenced
<br /> tha�questions Trus�vr's�ifile vr fihe interesfi❑f Trustee or Lende�-under�his Deed o�Trust, Trus�or shall defend the
<br /> a�tion at T�-ustor`s expense. Trus�ar may be the nominal party in such pr�ceeding, but Lender shalf be en�i�tled t❑
<br /> participate in the prv�eeding and ta be represenfied in fihe proceeding hy caunsel ❑� L�nder's own �hoice, and
<br /> Trustor will delive�, or cause to be deli�ered, �o Lender su�h instruments as Lender may �eques�from�ime t�time
<br /> fi❑ permit such par�icipa�ivn.
<br /> Comp�iance 1Nith Laws. Trustor warranfis that the Property and Trus�ar's use of �he Prvperty complies wEth all
<br /> exis�ing app�icable laws, ❑rdinances, and regula�ions fl�go�ernmen�al authorities.
<br /> 5urvivai o� Represen#ations and Warran#ies. All rep�esentatians, warran�ies, and agreements made by Trustor in
<br /> this Deed of Trus�shall sur�i�e the exeGution and deli�ery vf this Deed v�Trust, shall �e �on�inuing in nature, and
<br /> shall remain in full force and effect unfiil such time as Trustor's lndebtedness shall be paid in�ull.
<br /> C�NDEMNATi�N. The follawing pro�isions relating t❑ condemnation pro�eedings are a par�a�this ❑eed vf Trus�:
<br /> Proceedings. If any prv�eeding in condemnativn is filed, Trustar shall prvmptly notify Lender in writing, and
<br /> Trustor shall promptly take such s�eps as may be necessa�y �o defend �he actian and ❑btain the award. Trustor
<br /> may be the nominal party in su�h pr��eedin�, bu�Lender shall be en�i�led to parti�ipate in the proceeding and tv be
<br /> represented in �he praceedin� by counsei of its own choice, and T�-ustar will de�iW�r or cause �❑ 1�e deli�ered to
<br /> Lender such instruments and documentativn as may 1�e reques�ed by Lender f��m time to time t❑ permit su�h
<br /> participatEon.
<br /> Application of Net Prv�eeds. I�all ❑r any part o�the Property is condemn�d hy eminent domain prviceedings or by
<br /> any prviceeding ❑r purchase in �ieu of condemnati�n, Lender may at i�s electi�n require that all or any portion a��he
<br /> ne� praceeds of the award �e applied �o the Indebtedness ❑r the repair or restorati�n of the Property. The ne�
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