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2� 17� 14�4
<br /> D�ED C]F TRUST
<br /> Loan Na: ��'13D2�75 t�ontinu�d� Page �
<br /> poli�ies Qr �ertifiCates of insurance in fvrm satisfactory to Lender, inciuding stipulat+ons tha� co�erages will not �e
<br /> can�etfed ❑r diminish�d without at least ten ��Uy days prior written notice to Lender. EaGh insuranGe polt�y also
<br /> shall include an endorsement pr���ding that ca�erage in fa�or vf Lender will nvt be impaired in any way �y any act,
<br /> omission vr default of Trustar or any �ther persvn. Shauld the Real Pra�erty be lvcated in an area designated by
<br /> th� Administratar of the F�dera� Em�rgency Man�gemen� Ac��ncy as a special flood hazard area, Trustor agrees t❑
<br /> o���in and maintain Fede�al F�ood insurance, if a�ailable, �or the full unpaid prinCipal balance ❑f the loan and any
<br /> prfor liens on the property securing the Ioan, up t❑ the maximum po�icy iimits s�t und�� the Natianal Flavd
<br /> lnsurance Pragram, or as otherwise required by Lender, and to maintain �uch tnsuran�e for th�t�rm af the laan.
<br /> Appiication of P'raceeds. Trustar shall promptly natify Lender ❑f any lass or darnage to the F�roperty. L�nder may
<br /> make praaf of lass if Trustar fails t❑ dv so within fifteen ��5y days of the casualty. Whether ❑r nat Lender's
<br /> security is impaired, Lender may, at L�nder's ele�tion, �ecei�� and retain the prn�eeds of any insurance and ap�ly
<br /> th� proceeds ta the reductic�n ❑f th� Indebtedness, paym�nt a� any lien af�ecting th� Property, ❑r the restoratiQn
<br /> and repair of the Pr�pe�ty. If Lender ele�ts to appiy the praceeds t❑ restaratian and repair, Trustor shall repair o�
<br /> replace the damaged or destroyed Impravements in a manner satis�a�tary t❑ L�nder. Lender shall, upon
<br /> satisfactory prvaf ❑f such expenditure, pay ar reimburse Trustar from the proCeecis #ar the reasnna�le cast ❑f
<br /> repair vr r�starativn if Trustar is not in de�ault under this ❑eed ❑f Trust. Any �raceeds which have na� be�n
<br /> disbursed w�th�n 18� days after th�ir receipt and which Lender has nat eommitt�d to th� repair or restvratEan of
<br /> the Prvper�y shall be used first t� pay any amount ❑wing to Lender under this Deed of Trust, then to pay ac�rued
<br /> interest, and the remainder, it any, shall be applied t� the principal balan�e of the inde��edness. If Lender ha�ds
<br /> any �race�ds after paymen# in full Qf �he Indebtedness, such pr�ceeds shall he �aid t❑ Tru�tar as Trustor's
<br /> int�rests may appear,
<br /> Compliance with Existing indebtedness. During the periad in which any Existing lndebtedness described beiow is
<br /> in ef�ect, compliance with the insurance �rv�isions cantained in the instrurnen� e�id�ncing such �xisting
<br /> Indeb�edness shall canstitute compliance with th� insurance pro�isions under �his ❑eed of Trus�, ta �h� extent
<br /> carnpliance with the terms of this []eed of Trust would canstitute a dupli�ation a# insuranc� requirement. I# any
<br /> p�aceeds fr�m the insurance hecome payab�e vn loss, the pro�isians in this Deed of Trust far di�ision vf proceeds
<br /> shall apply only rv that p�rtian of the pra�eeds nat�ayahle to the halder�f the Existing inde�tedness.
<br /> Trustar's Repart an Insurance. lJpon request of L�nder, howe�er not more than �n�e a year, Trustor sh�ll furnish
<br /> to Lender a report ❑n each exist�ng pal�cy of insurance shawinc�; �1� the name of the insur�r; ��� the risl�s
<br /> insured; {3} the amount a� the policy; (4� th� pro�erty insur�d, the then current replac�m�nt �alue �f su�h
<br /> prc�perty, and th� manner ❑f d�termining that�alue; and {57 the expirati�n date �� th� pvli�y. Trust�r sha11, upon
<br /> request Qf Lender, ha�e an irrdependen��ppraiser satisfactary to L�nder dete�mine the cash value r�placement cast
<br /> of the Property.
<br /> LENQER'S E�CPENDITURES. If any action or pro�eedin� is �arnmenced that wauid materia�fy affeGt L�nder's inter�st in
<br /> the Prop�rty or if Trustvr fails ta ��rnply vvith any pro�is+on ❑f this Qeed Qf Trust ❑r any �efated Qo�uments, including
<br /> but nat limited t� Trustor's fa+lure ta �omp�y with any obligati�n to maintain Existing Indebtedness in gaod st�nding as
<br /> requ€red below, ❑r ti❑ discharge❑r pay when due any amaunts Trustor is required to discharge ar pay under�his i�eed vf
<br /> Tr�st vr any Related Dacumen��, L�n�er an Trustor's behalf may tbut shali nc�t be �b�igated fo� take any action that
<br /> Lender deems appra�riate, including but not �tmited �❑ disGharging ❑r �aying a�! ta�ees, liens, security interests,
<br /> encumbrances and other claims, at any time �e�ied vr pia�ed ❑n the Praperty and �aying all casts far insuring,
<br /> rnaintaining and pr�s�r�ing the Property. All such expenditures in�u�red ar paid by Lender �or such purposes wiil then
<br /> bear inter�st at the rat� charged under the N�te fram th� date incurred ar pa�d by Lender ta the date ❑f repaym�nt by
<br /> Trustar. All such exp�nses wi�d became a part of the Ind�btedness and, at l�.ender's optiQn, will {A� be payable ❑n
<br /> dema�d; �By be added to the balance c�� the N�te and be appart�oned amang and be payahle vvith any instaitment
<br /> payments t❑ be�orne due during either �1 y the term of any app�icable insu�ance poli�y; ❑r �2� the remaining term ❑f
<br /> the Note; or ��} be treated as a ba�fovn payment which will be due and payable at the Nnte's maturity. The C�eed af
<br /> Trust alsv wil! secure payment at these amaunts. Su�h right shall be in addi�ian ta all oth�r right� �nd rem�di�s t�
<br /> which Lender may be enfiitled upQn ❑efault,
<br /> WARRANTY: DEFENSE QF TITLE. The foRlowing pra�isions relating to awnership af the Prope�ty ar� a part of this Deed
<br /> c�f Trust:
<br /> Ti#I�. Trustor w�rrants that: �a� Trus�nr holds gaad and marketable title of r�cord ta the f�raperty in �ee s�mpie,
<br /> free and clear �f all liens and encumbrances other than thase set f�rth in the Real Pr�perty description �r in the
<br /> Existing Indebtedness section below ❑r in any title insurance policy, title report, or final tit3e �pinian issued in �a�ar
<br /> of, and accepted �y, Lender in cannection with this Deed of Trust, and �by Trustor has �he full right, power, and
<br /> authority ta exe�ute and deli�er this Qeed ❑f Trust�Co Lender,
<br /> Defense v'f Ti#le, Subje�t to the eacception in the paragraph abo�e, Trustar warrants and will fore�er defend the
<br /> title tQ the Praperty against the lawful claims ❑f all persons. In the e�ent any actian vr pro�eeding is commenGed
<br /> that questians Trustor's titl� ❑r the intere�t vf Trusl�e� or Lender under this C�eed of Trust, Trustor shall de��nd the
<br /> aGtion at Trustvr's expens�. Trustvr may be the naminal p�r�y in such proceeding, but Lender shall be entitled ta
<br /> participate in the praGeeding and ta be represented in the prt�ceeding by cauns�l af Lender's own Ghoice, and
<br /> Trustvr will deli�er, or cause ta he de�i�er�d, t❑ Lend�r such instruments as Lender may requ�st fram time ta time
<br /> to permit such parti�ipativn.
<br /> Comp�iance With Laws. Trustor warrants that the Property and Trustar's use of the Proper�y cflmplies with aRl
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