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2� 17� 1481
<br /> DEED �F TRUST
<br /> Lvan No: 'i D'13�2348 ���ntinu�d� Page 4
<br /> Application vf Proceeds. Trustor shall promptly notify Lender o�any loss or damage tv the Pr�per�y. Lender may
<br /> make provf �f Ioss if Trustvr �ails tv da so wifihin �i�Ffieen {�5� days of the casualty. Whether ❑r nv� Lender's
<br /> securi�y is impaired, Lender may, at Lender's election, rece��e and retain fihe prv�eeds vf any insurance and apply
<br /> the p�oceeds �o �he reducfiion of the Indsbtedness, paymen� ❑f any lien a��eG�ing �he Pr�per�y, or the restora�ion
<br /> and repair of�he Prape�ty. lf Lender elects to apply the proceeds to res�ora�ion and repair, Trustor sha�� repair or
<br /> �-eplace �he damaged or destrayed Impro�ements in a manner satisfactary ta Lender. Lender shall, upon
<br /> satisfa��ory proof o� such expendi�ure, pay or reimburse Trustor from the praceeds �or the reasvnahle cost of
<br /> repair or r�s�vration if Trustor is no� in de�ault under this ❑eed o� Trust. Any praceeds which have not been
<br /> disbursed within �8� days afker �heir receip� and whi�h Lender has not cvmmitted �o �he repair ar restora�ion af
<br /> �he Property shall be used first to pay any amoun�❑wing t❑ Lender under�his ❑eed vf Trust, �hen �o pay ac�rued
<br /> interest, and �he remainder, i� any, shall be applied fio the prfnc�paf balance ❑f the Indeb�edness. Ef Lender holds
<br /> any proceeds afker payment in full of �he lndeh�edness, such pr�ceeds shalf be paid fio Trustor as Trustor's
<br /> interests may appear.
<br /> Cvmplian�e ►rvi�h Existing lndebtedness. During the perivd in which any Existing Indeb�edness described b�l�w is
<br /> in ef�ect, �omplian�e with the insurance prvWEsions con�ained in the instrument e�idencing such Existing
<br /> �ndebtedness sha�l constitu�e compliance wi�h �he insurance p�-��isions under th�s ❑eed o� Trust, ta th� extent
<br /> camp�iance wi�h �he terms af�h�s Deed ❑f Trust would cons�i�ute a duplicat�on ❑f insurance requirement. Ef any
<br /> proceeds frvm the insurance become payab�e on Ioss, fihe pro��sions �n this Deed o�Trust for di�ision ❑f proceeds
<br /> shall apply vnly�❑tha�partifln of�he proceeds no�paya�le to the halder o�fihe Existing lndebtedn�ss.
<br /> Trustor's Repvrx on Insurance. Upon request of Lender, howe�er no� mare�han once a y�ar, Trusto�r sha{! furnish
<br /> to Lender a report vn each exis�ing pv�icy ❑f insurance show�ng: �'i� �he name af the insurer; {Z� �he �'15k5
<br /> insured; �3� the amoun� ❑-� the pol�cy; {4} the property insured, �he th�n �urrent replacement value of such
<br /> property, and �he manner of determinin� �hat�alue; and �5} �he expira�ian da�e a�the pvl�cy. Trustor shall, upon
<br /> request❑f Lender, ha�e an independent appraiser satisfactory�o Lender de�ermine�he cash�alue replacement cos�
<br /> ❑�F�he Prvperty.
<br /> LENDER'S EXPENDITURES. I�any a�tion or proc�eding is commenced tha�wauld mat�rially affec� Lender's interest in
<br /> the Prvperty or if Trustvr fai�s �o comply with any pro�isi�n ❑f this ❑eed of T�ust�r any Related ❑ocuments, including
<br /> but nvt limited�v Trus�vr's failure to �omply wifih any obligation �o maintain Existing Indeb�edness in good standing as
<br /> required belvw, or tv discharge❑r pay when due any am�unts Trus�or is required�tv discharge a�-pay under this �3eed of
<br /> Trust ❑r any Related ❑ocuments, Lend�r �n Trustor's behalf may {i�ut shall nvt be obligated ta} take any ac�k�on that
<br /> Lendsr deems appropria�e, including hut not limited �❑ discharging or paying all �taxes, liens, secur��y interests,
<br /> encumbrances and vther claims, at any time fe�ied �r pla�ed ❑n �he Prvperty and paying all costs fvr insuring,
<br /> maintaining and preser�ing �he Property. Alf such expenditures incurred vr paid by Lender�fvr such purposes v►rill then
<br /> bear infierest at�the ra�e charged under the N�te from �khe date in�urred or paid by Lender to the da�e of repayment 1ay
<br /> Trustc�r. All such expenses will be�ame a par� af th� lndeb�edness and, at Lender's op�ion, will 4A� be payabie on
<br /> demand; �g} be added �o the balance af the Nvte and be appo�tEoned among and be payal�l� with any installment
<br /> paymen�s t❑ becvme due during either {'�} the�erm ❑f any applicable insurance policy; or {2� �he remaining term of
<br /> �he Nvte; ❑r {C} be fireated as a halloon payment which wi11 be due and payable at the Nvte's ma�urity. The Deed of
<br /> Trust als❑ will secure payment ❑f these amounts. Such righ� shall 1ae in additian to all ❑ther rights and remedies t�
<br /> which Lender may be entitled upon De�Faulfi.
<br /> WARRANTY; DEFENSE QF T1TLE. The�Fol�owing proWisions relating�o ownership o�the Proper�y are a par�o��this ❑eed
<br /> vf Trus�:
<br /> Title. Trustor warran�s that: �a} T�ustvr holds good and marke�able title of record to the Properky in fee simple,
<br /> �ree and clear ❑f a�i liens and encumbrances o�her than thvse set fvr�h in �he Reaf Proper�y descrip�ion or in the
<br /> Exis�ing Indeht�dn�ss sec�ion belaw ❑r in any ti�le insurance pvlicy, title repvrt, or final title ❑pinion issued in fa�or
<br /> of, and accep�ed by, Lender in connectian with �his ❑eed vf Trust, and �b� Trus�or has th� �ull righ�, power, and
<br /> au�hority to execute and deliver this ❑eed o�Trust to Lender.
<br /> De�ense v�Ti�le. Subje�t�o �he excep�ion in the paragraph abo�e, Trustar warrants and will fare�er defend �he
<br /> ti�le�o �he Property against the law#ul claims o�al! persons. En�he e��nt any action ❑r pro�eeding is commenced
<br /> tha�qu�s�ions Trustor`s �i�ie or�he in�eres�o�Trust�� ar Lender under this ❑�ed o�F Trus�,Trus�or shall de�Fend th�
<br /> a��ivn at T�us�tar`s expense. Trustor may he �he nomina� party �n such proc�eding, bufi Lender shalf be entitfed �to
<br /> par�icipate En the proceeding and �a he represenfied in the pr-�ceeding �y couns�l ❑f Lender's own choice, and
<br /> Trustor wil� de�iver, or cause to be deli�ered, �o Lender su�h instruments as Lender may requesfi from time t❑time
<br /> t❑permit such par�icipation.
<br /> Cvmpliance With Laws. Trustv� warrants tha� the Proper�y and Trus�v�-'s use o�F the Property cvmplies with alf
<br /> existEng applicable�aws, ordinances, and regulations o#ga�ernm�n�a� au�thorities.
<br /> SurWiva� af Representations and Warranties. All representatians, warranties, and agr�ements made by Trust�r in
<br /> �his ❑eed ❑f Trust shali sur�iWe�he execu�ian and deli�ery v��his ❑eed ❑€Trust, shal� be continuing in nature, and
<br /> shal! remain in#ull force and e�fect until such time as Trustvr`s [ndeb��dness shall be paid in�ull.
<br /> EXESTING INDEBTEDNESS. The fvllowing prvvisions cancerning Existing lndebtedness are a pa�t❑f this ❑eed a�Trust:
<br /> Existing Lien. The lien v� this ❑eed af Trus� secur�ng �he lndebtedness may be secondary and inferior to an
<br /> existing lien. Trustor expressly �o�enants and agrees to pay, or see�❑ th� payment of, the Existing Indeb�edness
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