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2� 17� 1455
<br /> DEE� �F TRUST
<br /> L�a�an No: 1[]'13C�26�� ��C�ntillue�� Page 4
<br /> se�urity is impaired, Lender may, at L�nder's electivn, recei�e and retain the praceeds o�any insuran�e and apply
<br /> the proceeds t� the reduction �f the Indebtedn�s�, paym�nt of any lien affecting the Property, ar the restoratian
<br /> and repair a�F the Property. If Lender elec#s tt� apply the proce�d� t� rest�ratian and repair, Trustar shall r�pair ar
<br /> replace the damaged Ar d�str�yed lmpro��ments in a m�nner sarisfactory ta Lender. Lender shal�, upon
<br /> satisfactory proof af such expenditure, pay or re+mhur�e Trustar #rom the proceeds for the reasanable cost of
<br /> r��air ar rest��ation if Trustor is no� in d�fault under this D�ed of Trust. Any �roc�eds �hich ha�e not been
<br /> di�bursed within 18� days after their receipt and �vhich Lender has not Gommitted t❑ the repair ar rest�ration v#
<br /> the F�r�per�y shall be u�ed �ir�t ta pay any am�unt owing ta l�ender under this Deed �f Trust, �hen ta pay ac�rued
<br /> interest, and th� remainder, if any, shall b� applied to the principal balanc� �� �he Indebtedness. If Lender holds
<br /> any pro�eeds after payment in full of the Indebtedness, such pra�eeds shall be paid tv Trustor as Trustvr's
<br /> inte�ests may appear.
<br /> CQmplianC� with Existing Irtdet�#edness. Du��nc� the period in wt�ich any Existing 1nd�bt�dness descri�ed be�ow is
<br /> in effeG�, compliance wi�h the insurance provEsians cvntained in the instrument e�idencing such E�cisting
<br /> Indebtedness shall constitute compliance with the insuran�e pro�isions under this Deed o� Trust, tn the extent
<br /> cvmpliance with the t�rms of this Qeed ❑f Trust wvuf d c�nstitute a duplication Qf insuranGe requiremen�. If any
<br /> prvGeeds from the insurance ���ome payabie an loss, the pra�isions in this ❑eed v� Trust f�r di�ision of proceeds
<br /> shal� app�y on�y to that portinn of the proce�ds na� payah�e ta th� halder fl�the Existing Indebtedness.
<br /> Trustor's Repart on Insurance. Upon request of Lender, howe�er not more than once a year, Trustor shall furnish
<br /> to Lend�r a report vn each existing pali�y of insuranGe shawing: {1� the name af the insurer; (�y th� risk�
<br /> �n�ured; �3� the amount af the policy; {4} the property insured, the then �urrent repla�em�nt ual�ae of such
<br /> property, and the manner of determining that value; and 45} ihe expiratian date c�f�he palicy. Trustnr shaEl, upon
<br /> requ�s�of Lender, ha�e an �ndep�ndent appraiser satisfac�ary ta Lender dete�min�the �ash �alue replacemenr cast
<br /> a�the Pr�p�rty.
<br /> LENDER'S EXPENDITURES. �f any a�tivn ar proceedin� is comm�n��d that would materially af#ect Lender's in�erest in
<br /> �he Praperty vr if Trustnr fails tv ��mply with any pro�isian of this ❑eed ❑f Trust or any Related Qocum�nts, inc�uding
<br /> but not limited tv Trustor's fai�u�e t❑ comply with any obligati�n to m�intain Existinc� Indebtedne�s in good standing as
<br /> required b��aw, or to discharg� or �ay when due any amounts Trust�r is requ+red to discharge or pay und�r this Deed of
<br /> Trust vr any Related Do�uments, Lende� on Trustv�'s behalf ma�t �but shall not be obli�ated to� take any action that
<br /> Lender deems appropriate, including but not limited to dis�harging �r �aying all taxes, liens, security interests,
<br /> encumbrances and ather �laims, �� any tirne le�ied c�r piaced on th� Praperty and ��yir�g ail ca�ts far insurin�,
<br /> maintaining and preser�ing the F'raperty. All such expenditures incurr�d a� paid by Lender for such purpas�s wi(� �hen
<br /> bear inter�st at the rate charged under the Nnte from the date incurred or paid by Lender �o th� date �f repayment �y
<br /> Trustar. All such expenses w�#1 become a part o# the �ndebtedness and, at L�nder's aption, wil; �A] be payable on
<br /> demand; {By h� added to the baiance �� th� NQte and be app�rtioned amang and �e payabl� with any installm�nt
<br /> payments to b�come due during ei�her �1} the term af any ap�li�able insurance palicy; ar ��� the remaining term of
<br /> th� Note; a� �Cy be �reat�d as a �alloon �ayment which will be du� and payabl� at the Nate's maturity. The Deed ❑f
<br /> Trust alsv w+ll s�cure payment ❑f these amounts. 5u�h right shall be in additian t� all oth�r rights and remedies ta
<br /> which Lender may b��ntitled up�n ❑efault.
<br /> VIIARRANTY; DEFENSE�F TITL�, The foll�wing �ro�isians relating tv awnership of the Praperty are a part❑f�his Deed
<br /> of Trust:
<br /> Title. Trustvr warrants that: �ay Trustor halds gQod and marketabl� title ❑f recnrd to the Prvperty in fee s�mpie,
<br /> free and clear af a�l i+ens and encumbrances other than those set forth in the Reai Property descriptian �r in the
<br /> Existin� Indebtedness s�ctiQn b�low or in any titl� insurance policy, title report, or final tit�e apinion 15S1.lE[� in fa�vr
<br /> of, and accepted by, Lend�r in cannectian with �his Deed of Trust, and �bf Trustvr has the full right, pc�wer, and
<br /> authority t❑ e�cecute and de�i�er this Deed af�'rust to Lender.
<br /> Defense vf Title. Subject t❑ the exceptinn in the paragraph abo�e, Trustar warrants and will fore��r defend the
<br /> title to the Praperty against the lawful claims a� a�! persans. In th� e�ent any action ar prviceeding is commenced
<br /> that questivns Trustar's title ar the int�r�st of Trus��e or Len�er under this Deed �f�'rust, TrustQr shall de�end the
<br /> activn at Trustor's expense. Trustar may b� th� naminal party in such proc�eding, but L�nder shall be entitl�d ta
<br /> participat� in the pra�eeding and to be repr�sented in the proc�ed�ng by counsel of Lender's awn ch�ic�, and
<br /> Trustor will deliver, vr �ause ta be deli�ered, t� Lender such instruments as Lend�r may request fram time ta time
<br /> ta permit such pa�t�cipati�n.
<br /> Compiian�� Vlli#h Laws. Trustar v►rarrants that the Prvperty and Trust�r's use of �he Prop�rty cc�r�plies with ai�
<br /> existing applicable laws, ardinances, and r�gulatians vf go�ernmental authorities.
<br /> �ur�i�al vf Representations and WarrantEes. All r�presentations, warranties, and agreements made by Trustor in
<br /> this Qe�d �t Trust shall sur�i�e the executian and deli�ery �f this ❑eed nf Trust, shal! be �ontinuing in nat�re, and
<br /> shall �emain in �ull f�rce and ef�ect un#il such time �s Trustvr's lnd�btedness shai! h� paid in full.
<br /> E]CiSTING �NDEBTEDNESS. The following pro�isi�ns cvncerning Existing Indebtedness are a part af this ❑eed ❑f Trust:
<br /> Existing Lien. The lien of this Deed of Trust se�uring the IndehtQdness may be secandary and inferiar to an
<br /> ex�sting lien, Trustar ex�ressly �o�enants and a�rees to p�y, or see to th� payment �f, the Existing Indebtedness
<br /> and ta pre�ent any default an such indebtedness, any de�ault und�r the ins�rumentS ��idencin� such indeb�edness,
<br /> or any default under any security documents for such ind��tedness.
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