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2� 17� 1425
<br /> aEEv oF TRusT
<br /> ���ntinuedj Pa+�e 3
<br /> statemen#of th�taxes and assessments against the Prop�rty.
<br /> Notica of Cons#ru�tion, Trustar shalf notify Lender at least�ift�en ��5� days befvre any work is cvmmenced, any
<br /> ser�ices are furnished, or any materials are supplied to the Prop�rty, if any mechanic's lien, mat�rialmsn`s lien, o�
<br /> other lien cou�d be assertsd an account af the work, ser�ices, o� materials. Trustor will upon request of Lender
<br /> furnish ta L�nder ad�ance assurances sat�sfactvey to Lender that Trustvr cen and will pay the cos� of such
<br /> impro�ements.
<br /> PR�PEf�TY DAIIAA�E INSURAN�E. The following pra�isions relating t❑ insuring the Property are a part of this �eed of
<br /> Trust.
<br /> Maintenen�e o# Insurance. Trustor shail pra�ure and maintain policies of fire insurance with standard extended
<br /> co�erage endorsements on a repia�ement basis for the full Ensurable �alue cv�ering all Impro�ements an the Real
<br /> Proper#y in an amount sufficient to a�oid applicatian v# any coinsuran�e �lause, and with a standard mortgagee
<br /> clause in fa�or of Lender. Trusto�shall aiso procure and maintain comprehensi�e general liability insurance in such
<br /> �o�erage amounts as Lender may request with Trustee and Lender being named as additional insureds in such
<br /> IiabilEty insurance policies. Additionally, Trustor shall main#aEn such �ther insurance. including but n�t limited to
<br /> hazard, business interruption, and hailer insurance, as Lender may reas�nabfy require. Policies shall be written in
<br /> #vrm, amoun#s� co�erages and I�asis r�asonably acceptable to Lsnder and issued by a �ampany or cvmpanies
<br /> reas�nably a��eptable to Lender. Trustor, upon request ❑f Lender, will deli�er ta Lender from time to tfine the
<br /> poiicies or certificates of insurance in farm satisfactory to Lender, including stipulations that ca�erages will not be
<br /> can�elled or diminished without a#least thir#y �3�f days prior written nvtice to Lender. Each insuran�e poli�y also
<br /> shal��n�lude an endorsement pro�iding that�v�erage in fa�vr o�Lender wtll not be impaired in any way hy any act,
<br /> omission or d�fault vf Trustor or any other person. Shvuld the Real Property be Io�ated in an area designated by
<br /> the Administrator o�the Fed�ral Emergency Management Agency as a special flood hazard area, Trustvr agrees tv
<br /> vbtain and maintain Federal Flood Insurance, i# a�ailable, within 45 days after notice is gi�en hy Lender that th�
<br /> Prvperty is located in a spe�ial flood hazard area, #ar the ful�unpaid princ+pal balanc��f the loan and any priar liens
<br /> �n the property se�uring the Ivan, up to the maximum pvlicy limits set under the Nationa!Flood insurance Program,
<br /> ❑r as otherwise rsquired hy Lender, and tv main#ain such insurance for the term of the loan.
<br /> Appli�ation of Procaeds. Trustor shall promptly notify Lender�f any loss ar damage to the Property. Lender m�y
<br /> make provf of Ioss if Trustor fails to da so within fifteen �15f days o# the casualty. Whether or not Lender's
<br /> security is impaired, Lender may. at Lender's election, recei�e and retain th� pro���ds of any �nsurance and apply
<br /> the proceeds to the reduction of the Indehtedness, payment vf any lien affecting the Propsrty, or the restoration
<br /> and repair of th� Praperty. If Lender elects to apply the proceeds tv restora#ion and repair, Trustvr shafl repair or
<br /> replace the damaged or destroyed �mpra�ements in a manner satisfa�tory to Lender. Lender shall. upan
<br /> satisfactory proof af such expenditure, pay or reimburse Trustor from the proceeds for the r�asanable cost of
<br /> rQpair or restoration if Trustor Es not in default under this De�d af Trust. Any prviceeds which ha�e nat been
<br /> disburs�d within 18� days after their receipt and which Lender has nat commi�ted t❑ #he repair or restorativn ❑f
<br /> the Prop�rty shall b� used first to pay any amaunt owing to Lender under this Deed af Trust, then ta pay accrued
<br /> interest. and th� remainder, if any. shall he applied ta ths principal balance of the Indebtedness. I# Lender hvlds
<br /> any proceeds after paym�nt in full af the Indebtedness, such proceeds shai� he paid to Trustor as Trustor's
<br /> interests may appear.
<br /> Trus#or's Report vn lnsurance. Upan request o# Lender, howe�er nvt more than vnce a year. Trustor shall furnish
<br /> tv Lender a report ❑n ea�h existing palicy af insurance showing: �1 f th� name of the insurer; �2f the risks
<br /> insured; �3y the amount of the policy; �4y the prvperty insured, #he then current replacement �alue vf such
<br /> property, and th� manner of determining that�alue; and �5f ihe expiration da#e o#the policy. Trustor shall, upon
<br /> request of Lender, ha�e an independ�nt appraiser satisfa�tory ta Lender determine the cash�alue replacement cvst
<br /> �f the Property.
<br /> LENDER'S EXPENDITURES. ff any action or proceeding is cnmmenced that wauld materially affect Lender's interest�n
<br /> the Praperty or if Trust�r fafls t� cvmply wi#h any pro�ision ❑f#his Deed of Trust ar any Related Documents� including
<br /> but not limited to Trustor's failure ta discharg� ❑r pay when due any amounts Trustor is required tv discharge ❑r pay
<br /> under this Deed��Trust or any Related Dacumen#s. Lender on Trustor`s behaif may {but shall not be obligated tay take
<br /> any action that Lend�r deems appropriate� including but not limited t� discharging ar paying all taxes, liens, security
<br /> interests, encumbrances and other claims, at any time le�ied or p�aced on the Property and paying al!casts#or insuring,
<br /> maintaining and preser�ing the Property. All such expenditures inGurred vr paid by Lender for such purposes wiff then
<br /> bear interest at the rate charged under the Note fr�m the date incurred or paid by Lender to ihe date af repayment hy
<br /> Trustor. AI! such expenses wi�� became a part of the Indehtedness and, at Lender's �ption, will �A� be paya�le on
<br /> demand; �By be added to the halance of th� Note and be apportioned among and h� payabie with any installment
<br /> payments to become due during either �1 y the term of any appficable insurence palicy; �r �2� the remaining term of
<br /> the N�t�; or �C� be �reated as a ba�lavn payment which will be due and payable at the Note's maturity. The Deed of
<br /> Trust also wil! secure payment af these amounts. 5uch right shall be in addition to all other rights and remediss to
<br /> which Lender may be entitled upon Defauft.
<br /> WARRANTY;DEFENSE aF TiTLE. The�ollowing pro�isians relating tv ownership❑f th� Property ar�a part❑f this Deed
<br /> of Trust:
<br /> Trtle. Trustvr warrants that: {ay Trustor holds good and mark�table title ❑f recvrd to the Property in �ee simple.
<br /> �ree and clear of all liens and encumbrances ather than thase set forth in the Real Property description or in any
<br /> title insurance policy, title report, or final titl� opinian issugd in fa�or af, and accep#ed by, Lendgr in connection
<br /> with this De�d of Trust, and �h}Trustvr has the full right, power, and authority t❑execute and deli�er this ❑eed�f
<br /> Trust ta Lender.
<br /> Defense of Trtle. 5ub�ect to the exception in the paragraph abv�e, Trus#or warrants and will fore�er defend th�
<br /> title to the Properiy against the lawful claims of all persons. !n the event any aGtian or proceeding is cvmmenced
<br /> that ques#ions Trustar's title or the interest vf Trustee or Lender under this Deed of Trust, Trustor shail defend the
<br /> acti�n at Trustor's expense. Trustvr may be the nominal party in such proc��ding, but Lender shall be entitled to
<br /> participate in the prviceeding and to be represented in the prviceeding by counsel of Lender's vwn chvice. and
<br /> Trustor will deli�er, or cause to be deli�ered. ta Lender such instruments as Lender may rsques#frvm time ta time
<br /> t❑permit such part�cipation.
<br /> Compliance With Laws. Trus#vr warrants that the Property and Trustar's use af the Praperty campl�es with a��
<br /> existing applicabi� laws, ordinances, and regulations af ga�ernm�ntal au#horities.
<br /> Sur�i��l af Representet�ons end Warrantiss, All representations, warranties, and agreements made by Trusto� in
<br /> this Deed �f Trust shall sur►►i�e the executivn and deli�ery af this Deed of Trust, shall be continuing in nature, and
<br /> shall rema�n in full force and effect until such time as Trustor's indebtedness shall be paid in full.
<br /> C�NDEMNATI�N. The foll�wing pro�isions relating to condemnation pro��edings are a part of this Deed of Trust:
<br /> Pra�eadings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and
<br /> Trustor shall pr�mptly take such steps as may be necessary tv defend the actian and ohtain the award. Trustor
<br /> may be the nominal party in such praceeding, but Lender shalf be entitled to participate in the proceeding and tv be
<br /> represented in #he proceeding hy counse! of its vwn ch�ice, and Trustor will deli�er or cause to be deli�ered to
<br /> Lender such instruments and documentati�n as may be requested by Lender fram tim� t❑ time tv permit such
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