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2� 17� 1553
<br /> �3EE� �F T`F�LJ�T
<br /> Lvan �Vv: ��13�3�30 ��€���[t�ue�8} Page 4
<br /> reasonably a�ceptable ta Lender, T�ust�r, upon ��ques� o� Lender, wil( deli�er to Lender from time t❑ fime the
<br /> palicies ar Gertificates ❑�insuran�e in �orm satisfactory �o Lender, including stipulafiions that c�uerages wiff nat be
<br /> Ganc�lled or diminished withaut at least ten �'f�]� day� priar written no�ice ta Lender. Each insurance policy ais❑
<br /> shall inciude an endorsement pra�iding that cavera�� in fa�or af Lender will not be impaired �n any way by any act,
<br /> amission or de�au�t ❑f Trusxor c�r any vther person. Shvuld the Reai Property be Iocated in an area designa�ed by
<br /> the Administra�ar vf the Federal Emergency Managsment Agency as a special f�oad hazard area, Trus�or agrees �o
<br /> abtain and �nain�ain Federal F�aod Insurance, if a�ailabl�, wi�hin 45 days af�er notice is gi�en by Lender that the
<br /> Property is laca�ed in a special flaad hazard area, for the �ull unpaid principa� balance af�he Ivan and any prior Iiens
<br /> an the pr-oper��securing�he [�an, up�❑ the ma�cimum p�li�y �imits se��ndec�he Nati�nal FNood lnsurance Program,
<br /> a�as o�herw€se required �ry Lender, and�a �ma'rntain such insurance��r the�erm v�th� loan.
<br /> App[i�ativn of Proceeds. Trus�or shall prompt�y n�ti�y Lender af any �ass vr damage �v �he Proper�y, Lender may
<br /> make prna� af loss if T�us��r fails tv do s❑ �rvi�h�n fifteen �15} days ❑f the Gasua�ty. Wh�ther o� nnt Lender's
<br /> security is impaired, L�nder may� a� Lender's electian, recei�e and re�ain �he proceeds of any in�urance and apply
<br /> �he proceeds ta �he reduc�ion o� �he Indebfedness, payment v� any [ien affecting �he Praperty, ar �he restoratian
<br /> and repair ❑f�he Prvpe�ty. 1� Lender e�ect� to apply the praGeeds to res�ara�ivn and repair, Trustor shall repa�r vr
<br /> replace the �iam�aged or des�ray�d lmprovements in a mann�r sa�isfa��ory to Lender. Lender shall, upan
<br /> sa�is�actary pr�rof ❑f suc� expenditur�, pay ar reimburse Trus�ar �rom the prvc�eds �far fihe reas�nable cast o�
<br /> repai� or r�stara�ion if Trustor is no� in defaulfi under th�s Deed of Trust. Any praceeds which ha�e no� heen
<br /> disburs�d wi�hin �8� days a�ter their r�ceipt and which Lender has nat cammitted #a �he repair or res�nra�ivn vf
<br /> the Property shall be used �irs�ta pay� any amount ❑wing �o Lend�r under�his Dsed ��Trus�, then ta pay accrued
<br /> in�eresfi, and the remaind��-, if any� shall b� applied �t� the pr�ncipal �alance ❑� �he indela�tedness, I� Lender holds
<br /> any proceeds af��r payment in �u11 af the Indebtedness, such prace�d� shall be paid �a Trus�or a� T�us�or's
<br /> in��resl�s may appear,
<br /> Compliance with Ex�sting lndehtedness. During �he period in which any Ex�sfit�g lndebtedness des�ribed �elow is.
<br /> in e��ect, �ampliance wi�h �he �nsuran�e pra�isions contained in �he ins�rumen� evidencing such Existing
<br /> �nd�btedness shall cansti�ute campliance wi�h tihe insurance prv�isions under �his Deed af Trus�, fio the ex�ent
<br /> comp[ianGe wi�h �he terms a� this Deed ❑f Trust would consti�ute a duplicativn o� insurance requiremen�. lf any
<br /> proceeds frvm �he insuran�e �e�ome payab[e on loss, the p�o�isions in this ❑�ed ofi Trust #ar diWisian vf proceeds
<br /> shalf app�y�nly to tha�portian o�the prviceeds no�payable�❑the holder❑�the Exis�ing Indebtedness.
<br /> Trus�or's Report❑n Insurance. Upvn re�uest of Lend�r, howe�er no� mor� than once a year, Trustar shall furni�h
<br /> �a Lender a repart vn ea�h exis�ing palicy nf insurance showing: �1} �he name o�F the in�urer; �2� �he risks
<br /> insured: �3� the amount v#� the poli�y; �4� �he praperty insured, the �h�n current replacement va�ue of su�h
<br /> property, and the manner v�de�ermining �hat�a�ue; and {5y the expira�ion date ❑f�he �o�icy. Trustor sh�ll, up�n
<br /> reques�of Lender, ha�e an independent appraiser sa�i��ac�ory to �ende�determine the ca�h�alue replacement cost
<br /> af�he Prape�ty.
<br /> LENDER'S E�CPEI�DtTUl�ES, If any ac�tion �r prviceeding �s commenced that would ma�erially affec� Lender's in�erest in
<br /> �he Proper�y ar i�Trustot-fails �o c�m�ly with any pro�ision o�f�his Deed o�Trust or any Related Dacumen�s, including
<br /> but no� iimited to Trusto�'s failu�-e t� comply �i�h any obligation t� maintain Existing Indeb�edness in good standing as
<br /> required belaw, or�o discharge or pay when due any amaunts Trus�or is required ta discharg� vr pay under this Deed of
<br /> Trust or any Relat�d D�cumen�s, Lend�� an Trusto�'s beha�� may �but sha(� nnt be vbliga�ed �o� take �ny action tha�
<br /> Lender d�ems apprvpriate, in�ludin� but no� limited tv discharging or paying a�l taxes, liens, securi�y in�erests,
<br /> en�um�rances and o�her Claims, a�. any time I��ied ❑r pla�ed on the Proper�y and paying all cos�s far insuring,
<br /> main�aining �nd preser�ing �he Property. Alf such expenditures incur�ed or paid by Lende� �or such purpnses wi�� �hen
<br /> bear inter�st at the rate char��d under�he Note from the da�e incurred or paid by Lender to �he date ❑� repaymen� by
<br /> Trus�or. All such expenses v+ji�� became a part ❑f the Indebtedness and, at Lender's ap�ion, wi(I �A� be paya�ie on
<br /> demand,' {B� be added t❑ t�e balanc� vf the Nate and �e appartivned ar�nong and be payable with any installment
<br /> payments to l�ecame due during ei�he� ��� the term ❑� an� applicable insurance policy; or ��� the remaining term �t
<br /> the Note; or �C� b� treated as a ballavn payment which will be due and payab�e a� the Note's maturi�y. The Deed o�
<br /> Trust aiso wi�1 s��ure payrnent of �h�se amounts. Su�h ri�ht shal� be in addi�ion to all ��her rights and remedies ro
<br /> wh�ch Lender may be en�it(ed upan Default.
<br /> 'U�lARRA�ITY; DEFEIVSE�F TtTLE. The fol[owing p�ovisions r�lating tv ovvnership af the Property are a part of�his Deed
<br /> o�F Trust:
<br /> Tit[e. firustor warrants that: �a} Trustar halds good and marke�able �itle o� �ecord tv �he Proper�y in �ee simple,
<br /> �ree and clear �� a�� �iens and enGumbrances ❑ther than thase set �orth �n the Real Property d�scrip�ian or in the
<br /> Exist�ng [nd�btedness s�ction �e�ow ar in any title insurance policy, �itle rept�rt, or final titie opinion issued �n fa��r
<br /> a�, and accepted by, Lender in cannec�ion wi�h �his Deed v� Trus�, and tb} T�ustar has the full �ight, pawer, and
<br /> au�hari�y t� execute and deli�er�his Deed o�`Trus��o Lender.
<br /> D�fense of TitNe. Sub��c� �a �he �x�ep�ion in �he paragraph above, Trustar warrants and will fare�er de#end the
<br /> �i�le �❑ the Prap�rty again��th� Iaw�Ful claims af a!I persans. In �he e�en�t any a��ian ar proc�eding is cammen�ed
<br /> tha�questians Tr�stor`s ti�(e or the interest af Trus�ee �r Lender under this �e�d of Trus�, Trus�vr sha�� defend the
<br /> a��ian at T�ustar's �xp�nse. Trustvr may be the nominal par�y in such proceeding, but Lender shal[ he �ntit�ed ta
<br /> participate in the prviceedin� and ta be represented in �he pro�eeding �y cvunsel ❑� Lender`s own choice, and
<br /> T�ustar w�#! deli�er, vr caus� t� be deli��red, t� Lender such ins�rum�n�s as Lender may request �From �ime to �ime
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