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2� 17� 11 �8
<br /> �EE� �F TF�IJ�`T
<br /> L�ar� No: 1���1��� ����ti�u�d� Page �
<br /> Trust.
<br /> IVlaint�nance a� lnsuranG�. Trustor shail pr��ure and maintain p�li�ies of fi€re insurance uvith standard ex�ended
<br /> caWerage endo�sements �n a rep�acemen� �asis for the full insurable Walue coWering all Imprav�ments on the Reai
<br /> Prop�rty in an amaunt su��ic�ent to av�i�f application of any coinsurance c��use, and w�th a standard martgagee
<br /> clause in faWQr af Lender, tagether with such �ther hazard and liabi�ity insurance as Lender may reasanably r�q�ire.
<br /> PoI�cE�s sha�l be writ�en in form, amounts, cvWerages and basis reasonal�ly aG�eptable �� L�nder and issu�d i�y a
<br /> campany or cor�npan[es reasonably acc�ptahle to Lender. Trustar, upan reques� af Lender, will deliWe� to Lender
<br /> �r�m time ta time �he p�licies ar certifica�es of insu�ance in farm satisfac#ary to Lend�r, including stipulations that
<br /> ca�erages wi11 nat be G�nc�[led ar diminished with�ut at ieast t�n �'[0} days prior wr�tten notice to Lender. Each
<br /> insurance pal�c� als� shall in�lude an �ndorsement providing that �av�rage in �avo� af L�n�er wi1l nat �e impair��
<br /> in any �nray by any act, am�s�ion �r default Qf Trustor�r any ather person. 5hauld �che R�al Praper�y b� iaCated in
<br /> an ar�a d�s�gnated by the Adminis�ra��r af the Federaf Emergency Manag�.ment Agency as a special �laod hazard
<br /> arear Trustor a�rees to obtain and maintain Federal Fla�d insurance, i� a�aila�l�, f�r fihe �u�l unpa�d prin�ipa[
<br /> balan�e of the ioan and any priar [iens on the pr�perty s�curing�he loan, up to the maximum �olicy limits se�t under
<br /> the IVatianal Ffoad fnsurance Program, ar as otherwise required �y Lender, and �Q maintain such insurance far the
<br /> term af the loan.
<br /> �►p�lication �f Proc���ls. TrustQr �hali pr�mptly notify Len�ier af any loss or dama�e ta �he Praperfiy. Lender may
<br /> mak� pr�of af l�ss if.T�us�or fails �a c�a so wi#hin fif��en [1 5} days a� the �a�ualty. Wheth�r or not Lender's
<br /> s��urity �s impa�red, Lender may, at Lender's election, rec�i�e and re�ain the prac��ds of any Ensurance and a�ply
<br /> the pr�ceeds t� the reduc�i�n �f the lndebtedness, pa}�ment af any lien aff�cting the Property, or the r�sto�ation
<br /> and repair af the �roperty. I� Lender elects to apply the pr�ceeds to rest�ra���n and repair, Trustor sha��l repair �r
<br /> replace the damaged or destroyed Impro�ements �n a manner satisfac�ory to Lender. Lender shall, up�n
<br /> satisfactory prv�f of such ex�endifiure, pay ❑r reimburse Trustor from the p�oceeds for the �eas�nahle cost of
<br /> r�pair �r r�st�ra�i�n if Trusfior is not in d�fault under this Deed o� Trust. Any pr�ceeds which hav� n�t �een
<br /> disbursed v�rithin �8� days aft�r their receip� and vwhich Lender has no� �amm�tted t� the repa�r �r r�staratian �f
<br /> th� Pr�perty shall be used first.t� pay any amount owing ta Lender under this Deed af Trust, then to pay a�crued
<br /> interest, and the r�maind�r, if any, sha�l t�� applied �� �he principal �alanc� of the Indebtedness. If Lender holds
<br /> any proce�ds afte� paymen� in ful� o�f the lndebted�ess, such prac�eds shail be pai� tv Trustar as Trustar's
<br /> interests may ap�e�r.
<br /> Compliance vtir�#� Existing �nde�tedness. Durin� the p�riod �n which any Existing In�eb�edness described b�law is
<br /> in e�fe�tr �ampliance with the insurance prvvisians cantain�d in fihe instrument evidencing such Exis�ing
<br /> lndeb�e�ness sha[I canstitute c�mpliance with the insurance prov�sions under this Qeed of Trus�, to the extent
<br /> �ompliance wi�h the terms af �his Deed of Trust wvuld constitute a duplica��on �f insurance requirement. If any
<br /> praceeds fram the insu�ance bec�me payable on �a55, the prov�si�ns in this Deed of Trust far d�Wisivn o� proceeds
<br /> shall apply❑nl}�tQ that partian a�F the pro�eeds not payable ta the ho�der o#�he Exis�ing �nd�btedness.
<br /> LENDER'S E)CPEIV�ITURES. If Trustor �ails �A} to keep the Praperty fr�� of al� taxes, liens, security €nteres�s,
<br /> encumbranc�s, and other claims, {g� to pro�ide any required insurance on th� Proper�y, �C} t� make repairs fia �h�
<br /> Praperty �r to Gnmply wifih any a�ligation �o mainta�n Existing Indebtedness in g�ad standing as required belovv; then
<br /> Lender m�y do so. If any ��tion �r praceedin� is cammen�ed that w�uld mater�ally affect Lend�r's �nt�rests in the
<br /> Property, th�n L�nder on Trustar's behalf may, but is not required to, take any actian that Lender bel�e�es tfl be
<br /> appropriat� to prot�ct L�nder`s interes�ts, A�[ expenses incurred or paid by Lend�r f�r such purposeS will th�n b�ar
<br /> infi�r�st at the rate charged under the N�te #r�m the date incurred ar pa�d by Len�er to th� d�te of repayment by
<br /> Trust�r. AI� such expenses �vi�l became a part a� the Indebtedn�ss and, at Lender's option, wil! tA} �� payahla on
<br /> demand; {By �e add�d to the balance of the Na'�� and be apporti�ned among and be payab�e ►rvith any installment
<br /> payments to become du� during ei�her {1} the term �f any applicahl� [nsurance policy; ❑r {�� -�he remaining term af
<br /> the N�ter �r �G) be tr�a��d as a balloon payment �rvhich wil� b� due and payable at the No�te's ma�urity. The Deed of
<br /> Trus� a�s� virill secure payment �f thes� amounts. Th� ri�hts proW�ded for in this paragr�ph shall be in add�tian �� any
<br /> other rights or any remedies to which Lender may l�� entitied an ac�ount of ar�y default. Any such action by Lender
<br /> shall not be cvnstrued as curing the default s��s ta bar Lender from any remedy that it atherwise w�uld har�e had.
<br /> 1fVARRAhITY; DEFEIVSE�F TITLE. The foll�wing proWisions re[ating ta awnership ofi the Property ar� a part a�F this Deed
<br /> o�Trust:
<br /> T�tle. Trustor warr�nts that: �a} Trustar ho�ds gaod and marketable fiitle af rec�rd tv the Pr�perty in �ee simple,
<br /> free and clear af all liens and encumbranc�s nther -�han th�s� set �orth in the Real Praperty description ar in the
<br /> Existin� �nd�btedness sec�tion below or in any title insurance p�licy, title report, �r final �€-�le op�nion issued in favor
<br /> o�, and accepted by, Lender in cann�cti�n with this Deed r�f Trustr and tb� Trust�r has �he �ull right, power, and
<br /> authority ta ex�cu�e and de[iv�r�his �eed af Trust to Lend�r.
<br /> Defense af Title. Subject ta the exception in �he paragraph aba�e, Trusfiar w�rran�s and wilf #are�er defend fihe
<br /> �title tQ the Praperty against the lawful claims of al! persons. ln the e�ent any actian or proceeding is c�mmenced
<br /> that ques#i�ns TrustQr's title ar th� int�r�st of Trustee or Lender under this Deed af Trust, Trus�ar sh�ll defend the
<br /> acti�n at Trustar's expense. Trust�r may he th� nomina[ par�y in such praceeding, but Lender shall be enti�led to
<br /> part�cipat� in the prviceeding and to �e represen�ed in th� proceeding by ��unsel o� Lende�'s own chaice, and
<br /> Trustar will deliWer, or cause ta be deli�ered, to Lender su�h iristruments as Lender m�y request frarn �ime ta time
<br /> to permit suGh part�cipatian,
<br /> Compliance Vllith La�nrs. Trustar warrants that the Property and Trustor`s use af th� Praperty c�m�l�es with al1
<br /> existing applicable laws, ardinances, and regulations af�oU�rnmental authoriti�s.
<br /> Survival af Pr��nis�s. AI� promis�s, a�reements, and s�atements Trustar has made in tt�is D�ed of Trust shal[
<br /> sur�i�e th� exe�uti�n and deliWery o�this D�ed of Trustr sh�ll be con�inuing in na�ur� and shall r�main in fu�l f�rce
<br /> and effect until such time as B�rrawe�'s fndebtedness €s paid in full.
<br /> E�CI�Tif�G lNDEBTEDfVES�. The fof��wing prav�sions cQncerning Exis��ng Indebtedn�ss are a part Qf#his Deed of Trust:
<br /> Exis#ing Lien. The lien of �his Deed af Trust securing �he Indebtedn�ss may �e secandary and inferior �a an
<br /> existing �ien. Trustar ex�ressly�aWenants and agrees ta pay, �r see to �h� payment of, the Existing Indebtedness
<br /> and ta prevent any defaul��n such indeb�tedness, any�efault under th� ins�rumen�s eWidencing such ind�btedn�ss,
<br /> or any de�auft under any security documents fior such in�ebtedness.
<br /> No Modi�icatian. Trusto� shall n�t enter inta any agre�ment with the halder o� any martgage, de�d of trust, or
<br /> other security agreement whiGh has priority o�er �his Deed ❑f Trust by which that agr��men� is modi�ied,
<br /> amend�d, ex�ended, �r ren�wed withaut fihe prior written �onsent of Lender. Trus�ar shal� neither request nor
<br /> ac��pt any fu�ture adv�nces under any such securi�y agreement without th� prior written �ansent af Lender.
<br /> C�IVDEMN►4TI�N. The�vllow�ng praWisi�ns relating to condemnation pr�ceedings are a pa�t�f this ae�d a�f Trust:
<br /> Pra�eedings. lf any proGeeding in �ondemna�i�n �s filed, Tru�t�r shall pr�mptly natify Lender �n writing, and
<br /> Trustor shall promptly tal�e such steps as may he necessary ta de�Fend the action and abtain the award. Trustar
<br /> may be the n�minal pa�ty in s�ch pr�ceeding, but Lender shatf he entit�ed ta part�cipa�e in th� pr�ceeding and t� be
<br /> represented in the proceedin� by counsel of its �vtirn chaice, and Trustor will deliWer �r cause to be deliver�� tQ
<br /> L�nder such instrum�nts and d�cumentation as may �e r�quested by L�nde� from tirn� ta fiime to permit such
<br /> parti�ipation.
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