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2� 17� 1439
<br /> DEED �F TRUST
<br /> Loan Nv: '1 D'13D�336 �Carlti�u�d} Page 4
<br /> Na�ional Flaad insuran�e Program, ar as othe�wise r�quired by Lender, and to main�ain such insurance for�he�erm
<br /> of fihe Ioan.
<br /> Appli�ativn of Prviceeds. Trus�or shall promp�ly notify Lender of any lass vr damage ta the Property. Lender may
<br /> make proo� of Ioss if Trus�v�- fails �v do so within fi�teen {15} days �f the casualty. Whether ❑r not Lender's
<br /> se�uri�y is impaired, Lender may, a� Lender's ele��ion, receiWe and retain fihe pro�eeds a�any insuranc� and apply
<br /> the proceeds ta the reduc�ion o�the Indebtedness, payment vf any lien a�ffe�ting the Praperty, or fihe restorafiion
<br /> and repaEr of the Praperty. �f Lender ele��s tv apply the praceeds t❑ restorativn and repai�, Trustar shall repair or
<br /> replace the damaged ar des�royed Impro�ements in a manne�- satisfa�tvey to Lender. Lender shall, upan
<br /> safiis�a�tory proof ❑�F such expendi�ure, pay or reimburse Trustvr �rvm the pr��eeds far �he �easonable Gost af
<br /> repair or restoration if Trustar is not in default under this aeed of Trust. Any proceeds which ha�e nofi heen
<br /> disbursed within 18� days afrer �heir receipt and which Lender has not commifi�ed ta the repair vr �es�oration ��
<br /> �he Property shall be used first t❑ pay any amoun� awing ta Lender under this ❑eed ❑f T�us�, then�❑ pay accrued
<br /> in�erest, and the remainder, if any, sha�� be applied �t❑ fihe principal �a�an�e o�the Indeb�edness. If Lender holds
<br /> any prv�eeds a#t�r payment in full v� the lndeb�edness, such proceeds shall he paid to Trustor as Trusfior's
<br /> interes�s may appear.
<br /> LEN�ER'S E�CPENDITURES. if Trustar �ails {A� to keep the Property free ❑� afl �axes, li�ns, security interes�Cs,
<br /> encumbrances, and ather claims, {g} ta pro�ide any required insurance on fihe Prvperty, or �C� �o make repairs t�the
<br /> Property �hen Lender may dv so. 1� any action vr praceeding is c�mmenced tha� would mat�rially a��ect Lender's
<br /> interests in �he Property, then Lender on Trustvr's behalf may, bu� is nat required to, fiake any activn that Lender
<br /> belie�es �� }�e appropriate�❑ profiect Lender`s interests. All expenses incurred vr paid by Lender far such purpases wilE
<br /> then bear in�eres�at the ra�e charged under the Nvte from the date incurred or paid by Lender�o the date of repaymen�
<br /> by Trustor. A�i such expenses will be�vme a part of the Indebtedness and, at Lender's optianr will �A� be payalale �n
<br /> demand; �B} be added �o �he �alance af the Note and be appor�ioned among and be paya�fe w�th any installmen�
<br /> paymen�s tv become due during either �1} the term ❑f any applicable insurance policyf or ��} the remaining term ❑f
<br /> the Nvte; ar {C� be trea�ed as a balloon payment which will he due and payahle at the Nafie's maturity. The ❑eed vf
<br /> Trust also will secure payment of these amounts. The rights praWided �For in thEs paragraph shall be in addition �C❑ any
<br /> vther rights or any remedies �o which Lender may be entit[ed on acc�unt of any defaul�. Any such action by Lender
<br /> sha�� n�t be cons�rued as curing the d�faul�so as to bar Lender�rom any remedy�hat it otherwise would ha�e had.
<br /> WARRANTY; DEFENSE DF T1TLE. The following pro�isians re[ating�❑ ❑wnership of the Praperty are a part of�his aeed
<br /> ❑�Trust:
<br /> Title, Trustor warran-�s that: {a} Trustvr hvlds good and marketahle title ❑f re�ard to �he Prvperty in fee simpie,
<br /> free and ciear ❑�f all liens and encumbrances ❑ther than �hase set �Fvrth in the Real Praperty descrip�tion or in any
<br /> ti�le �nsu�ance pvlicy, tit�e repart, ❑r final tit�e op�nivn issued in fa�or o�, and accepted by, Lender in connection
<br /> wi�h this ❑eed ❑f Trust, and {b} Trus�o� has the�ull righ�r powsr, and authvrity�o execute and deli�er�his Deed of
<br /> Trus�ta Lender.
<br /> ❑efense of T�t�e. Subject t� the exception in the paragraph aboWe, Trustor warrants and will fore�er de�end the
<br /> title�v th� P�-op�rt� agains��he law�u� claims of a�1 persons. [n the event any actian ar pr��eeding is commen�ed
<br /> that ques�ivns Trustvr's fiitle or the in�erest o�Trustee �r Lender under this �3eed v�Trus�, Trus�v�shall defend the
<br /> action at Trustor's expense. Trustar may he the nvminal par�y in such proceeding, but Lender shall be entitied to
<br /> parti�ipate in the praceeding and to be represented in �he pro�eedin� hy counsel of Lender's �wn chvi�e, and
<br /> Trustor wif! deEi�er, or cause t❑ be deli�ered, tv Lender such instrumen�ks as Lender may request from fiime�❑�ime
<br /> tv permifi su�h participation.
<br /> Compliance VIlith Laws. Trustor warrants that the Praperty and Trustor's use af the Prvperty complies with all
<br /> existing applicable �aws, ❑rdinan�es, and regulativns of ga�ernmen�a! authvrit�es.
<br /> SurWi�al of Prvmises. All prvmises, agreements, and stat�men�s Trustor has made in �his ❑eed v� T�-ust shaii
<br /> sur�i�e �he �xecution and deliWery of this Deed �f Trust, shall be con�inuing in na�ure and shall remain in full force
<br /> and e#fect un�if such fiime as Trust�r's Indebtedness is paid in full.
<br /> C�NDEN[NAT1�N. The fa�lowing pr��isivns relatin��❑cvndemnativn proc�edings a�e a part o�this Deed vf Trus�:
<br /> Prviceedings. if any p�-oceeding in condemnation is ���ed, Trustvr shall prvmpt�y na�ify Lender in writing, and
<br /> Trustar- shaE[ prampt�y take such steps as may be ne�essary to defend the action and vb�ain the award. Trus��r
<br /> may be the nnminal par�y in such proceeding, but Lender shall he entitled to participate in the prac�eding and t❑ [�e
<br /> represented in the proceeding i�y counsel of its vwn chvi�e, and Trus�tor w��l deli�er or cause ta be deli�ered to
<br /> Lender su�h ins�ruments and documentation as may be reques�ed by Lender �ram time to time t❑ permit such
<br /> participation.
<br /> Applica#ion vf Net Proceeds. If a�i or any part af the Prvperty is condemned by eminent domain prviceedings ar by
<br /> any pro�eeding or purchase in lieu❑�cond�mna�ion, Lender may at its elec�ion require that all o�-any portion ❑f�he
<br /> ne� proceeds af�he award be applied to �he Indebtedness ar the repair or restorativn af �he Property. The nefi
<br /> proceeds a�the award shall mean the award after paymen�o� all reasonable casxs, expenses, and attorneys' ��es
<br /> incurred by Trustee or Lender in conne�tian with�the candemnation.
<br /> IMP051T�DN �F TAXES, FEES AN❑ CHA�GES BY GOVERNMENTAL AUTH�RITIES. The following pro�isians re�a�ing
<br /> to ga�ernmen�a!taxes,fees and charges are a part of�his ❑eed o�Trus�:
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