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2� 17� 1 � 15
<br /> �EE� �F T�LJ��
<br /> L��n IV�: ����1��� ����7�1i�[��d� �'ag� �
<br /> c��rerages w�ll not be canc��led or diminished wi�hout at least ten {1�y days pr�ar ►rvritten natice to Lender. Each
<br /> insurance poEicy als� shall include �n endorsem�n� pra�iding thafi coWerage in faWor �f Len��r wil� not be impair��!
<br /> in any way by any act, �mission ar defaul� o�Trustor or any other person. Shvuld �he Real Property be ���at�d in
<br /> an ar�a designated by the AdrninistratQr of the Federal Em�rgency flllanagem�nt Agency a� a speci�l fl��d hazard
<br /> area, Trustar agre�s ta obtain and maintain Federa[ Flood lnsurance, if a�ailable� far '�he fu�l unpaid principal
<br /> l�alance�f the l�an an� any prior liens on the prap�rty securing th� loan, up t�the maximum policy limi�s set under
<br /> the �Vatianal Flvod Insuran�e Pragram, ar as otherwise requ�r�d by Lender, and t� maintain such insurance for fih�
<br /> t�rm of��e �oan.
<br /> A��p�i�atian t�� �r�cee�s.. Trustor shall pramptly n�tify Lender of any Ioss or damage ta the Pr�pert�. Lender may
<br /> mak� proaf �f iass i� Trustor fails �� d� so within fi#t�en �15� days of �he casuaity. Whether or nat Lender's
<br /> security is impa�red, Lender may, a� Lend�r's electian, re�ei�e and re�ain the proc��ds af any insurance and apply
<br /> the pr�ceeds to the r�du�tEan of the lndeb��dness, payment a� any lien aff�Gting the Praperty, ❑r th� r�storation
<br /> and repair af the Pr�pert�. If Lend�r �I�Gts ta apply�he �rnceeds -�� restaratian and repair, Trustar shall repair �r
<br /> replace the dama�ed ar des�r�yed lmprovemen�s in a manne� satisfactary ta Lender. Lender sha�l, upan
<br /> s�tisfa�-�ory �roaf of such expenditure, pay or reimhurs� Trustar fram the prac�eds for the reas�nal�le c�s� of
<br /> repair ar �estora�ion if Trustor �s n�� in de�aul� under this Deed of Trust Any pra�eeds which have not b��n
<br /> disbu�sed within 1�� days a�ter their re��ipt and wh�ch Lender has na� ��mmit�ed ta the repair or restaratian �f
<br /> the Praperty shall be used first to pay any arnvun� ovlring t� Lend�r under this �e��i o�Trust, th�n to pay accru�d
<br /> in�erest, and the r�mainder, if any, �hall be applied �a the principa[ ba�ance �f the In�e�tedn�ss. If Lend�r halds
<br /> any proceeds after payment in full of the Indeb�edness, such praceeds shall be �aid to Trus�or as Trus�or's
<br /> in�erests may appea�.
<br /> �vrr�pliance en►ith Existing incl�bt��n�ss. During the periad in whi�h any Existing In�ebtedness describ�d helow is
<br /> in effect, camplian�e with �he insurance pravisions contained in the �nstrument �vid�ncing su�h Existing
<br /> indebtedness shal� ct�nstitute c�mplianc� with th� insuranc� pro�isians under th�s Deed af Trust� to th� extent
<br /> camp�iance w�th the �kerms of this �eed of Trust uvould constifiute a duplicati�n af insurance requirement. lf any
<br /> p�oceeds from the insurance b�came paya�le �n loss, the pravisi�ns in �his D��d of Trust for d��ision of prac�eds
<br /> sha[I apply anly to that p�rti�n o�the pr�ceeds nat payable to�he ho�d�r of th� Existing Indebtedness.
<br /> LENDER'S E�CPE�'�IDITURE�. If Trustor fails �A) to I�eep �he PrQp�rty free ofi all taxes, I�ens, securi�y interes�sr
<br /> encumbran�es, and ather claims, �B} to pravide any required insuranee on the Praperty, ��y to make repairs t� the
<br /> Property ar ta �amply with any �b�i�ation ta maintain Exi�t�ng Inde�t��ness in go�d standing as required b��awr �hen
<br /> Len�er may da s�. �f any action �r proceeding is commenced tha� would materia�ly affec� Lender's �nter�sts in the
<br /> Propertyr th�n Len�er an Trustor's behalf may, but is not r�qui��d to, take any ac�ion �hat L�nder belie�res to be
<br /> appropriate to pratect Lende�r5 int�rests. All expenses incurred ar paid by L�nder far such purposes will then hear
<br /> interest at the rate Gharged under the Note from the date incurred or p�id by Lender ta the date af repayment hy
<br /> Trustar. All such ex�enses will b�came a par� of �h� Ind�btedness and, at Lend�r"s optian, wili �A} be payable �n
<br /> demand; ��} he a�ded -�o the balance o� the IVcrte and b� app�rti�ned among and be payab�e wEth any �nstallment
<br /> paym�nts ta became du� during ��th�r �'�� �he term ofi any appli�able insurance �olicy; or ��� th� rema�ning term af
<br /> �he Nate; or �C� �e trea�ed as a balla�n payment which will �e due and payable at�he Nate's maturity. The De�d of
<br /> Trust also wil� secure payment of th�se amounts. The rights provided for in �his �aragraph shall be in additian to any
<br /> a�her rights or any remedi�s to vvhich Lender may he enti-�led �n acGount of any default. Any su�h actian by Lend�r
<br /> shall not be cvnstrued as curing the defaul�sa as to bar Lender�rom any remedy th�t i-�o�herwise wauld ha�e had.
<br /> WARRAhITY: DEFENSE�F TlTLE. The follaw�n� pro�isians rela�ing to awnership of the Proper�y are a part of this Deed
<br /> ��Trust.
<br /> Title. Trustor warrants that: �a} Trust�r halds gvad and mar�eta�le tit�e of rec�rd t� �he P��perty in f�e simple,
<br /> fr�� and cl�ar af �Il liens and encum�rances �th�r than th�se s�t farth in th� Real Property description o� in the
<br /> Exist�r�g Inde�tedn�ss section belaw �r in any ti�ie insurance pvlicy, tit�e repart, ar final ti#�e apinian issued �n faWor
<br /> of, and accepted �y, Lender in cannection v+�ith this Deed.af Tru�t, and �b} Trustor has the full righ�, power, and
<br /> autnarity to execute and deli�er this ❑eed of Trust to Lender. �
<br /> ��fensa �f Title. Subject to �he exceptian in th� paragraph abo��, Trustar warrants and will farever defend the
<br /> title ta the Proper�� agains� the lawful �laims o� alI persons. ln the eWen� any act�on ar proceeding is commenced
<br /> �hat questions Trustar's ti�le❑r the in�erest of Trustee or L�nder under-�his Deed af Trust, Trustar shall defend the
<br /> acti�n at Trustar's �xpense. Trusto� may be the naminal party in such proc�eding, �ut Lender shall be entitled to
<br /> participate �n the proc��ding and �a be represented in the proce��iing by �aunsel af Len�er's own cho�ce, and
<br /> Trustar w�ll deli�er, or cause to be delivere�r ta Lender such instruments as Lender m�y request�Fr�m �ime to time
<br /> to �ermit su�h participatian.
<br /> G�m�liance With L�ws. Trustor �arrants �hat the Praperfy and Trus�ar`s use of �he Property complies �vith ail
<br /> existing app�icable laws, ❑rdinan�es, and regulations of gav�rnmental �utharities.
<br /> Surv��al af P�orv�is�s. A1� promises, agreements, and statements Trustor has made in thi� Deed of Trust shali
<br /> sur�ive�he �xe�ufiion and de[ivery�f this Deed of Trust, shall be cantinuin� �n na�ture and shal[ remain in fuEl force
<br /> and effe�t un�il such time as �orrawer`s lndebtedness is paid in fu(1.
<br /> EX1STiNG iNDE�TEDl�E�S. The f�llowing proUisions conc�rning Existin� Indebtedness are a part af th�s Deed af Trust:
<br /> Existing Lien. The lien of �his Deed of Trust secur�n� the lndei�tedness may b� secondary and inferivr ta an
<br /> ex�stin� �ien. Trustar �xpress[y covenants and agrees to pay, or see to the payment of, the Exist�ng lndebtedness
<br /> and �a preven�any default on su�h indebtedness, an�r d�fault under the �ns�truments eWid�ncing such indehtedness,
<br /> ar any default under any security d�cuments for suGh indebt��ness.
<br /> 1Vca Madificativn. Trus�ar shafl not �nfier int� any a�reemen� with the holder of any m�rtgage, d�ed �f trust, or
<br /> �ther security agreement which has priority over this D��d of Trust by vvhich that agre�ment is m�cli�ied,
<br /> amended, extended, vr rene�ved with�ut th� pri�r wr�tten consent of Lend�r. Trust�r shal[ neither request nQr
<br /> accept any futur� adWanc�s under any such secur�t�r agreement without th� prior written con��nfi�f Lender.
<br /> �UNDEMNATI�IV. The fallowing pra�isi�ns relat�n�to cc�ndemnation pro�eedings ar� a part�f this �eed of Trust:
<br /> Prv�ee�ings. �f any proceeding in condemna�ian is f�led, TrustQr shall prompt�y notify Lender in writing, and
<br /> Trustor shal� promptly take su�h s�eps as may be necessary to d��end �he action and ahtain the award. Trustar
<br /> may b�the nQminal party in such proceeding, bu� Lender shall b� entit�ed to parti�ipate in th� pr�ceeding and tv h�
<br /> represented in th� pro�eeding by cvunsel �f i�s �wn choice, and Trustar vUi[I deli�er ❑r caus� t� be d�[i�ered ta
<br /> Lender such instruments and dacumen�atian as may !�e request�d hy Lender fr�m �ime to tirne to permit such
<br /> participation.
<br /> Applica�ion v#Net Prviceed�. If all or any part o�the Praper�y is condemned �y�minent damain proceedings ar �y
<br /> any pr�ceeding or purchase in lieu of condemnatiQn, Lender m�y at i�s elec�ian require that all ar any partian af�he
<br /> net proceed� �� the av►�ard be applied ta the Indebtedness or the repair or restaratian o� �he Pr�pert�. Th� net
<br /> pro�eeds �f th� a►rvard shall mean the award a�t�r payment of a�l reas�nab�e costs, expenses, and att�rneys' fees
<br /> incurred by Trust�e�r Lender in cannection with the condemnatian.
<br /> liVlP�SITlON �F TA�E�, FEES A�[D CHARGES �� G�VERNMENTAL ►4UTH�RITIE�. The fol[awing pravisians r�lating
<br /> t�go�ernmenta!ta�es, fees and charges are a part o�this Dee� �f Trust:
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