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2� 17� 1 � 1 �
<br /> �E�� �F T�LJ�T.
<br /> Laan N�: 1����1���� ����t��t���� Pag� 3
<br /> co�erag�s wi[I nat �e c�nce�led ar diminished withaut at [east ten �1�} days prior written notice ta Lender. Each
<br /> insuran�e policy a�so sha�l include an endorsement prav�din� that caW�rage in fiavor af Lender will not be impaired
<br /> in any lrvay by any a�t, omissian �r d�fault of Trustar or any other person. Shau�d the F�eal Property �e located ir�
<br /> an area des�gna��d #�y the Adminis�ra�or af the Federal Emer�ency Manag�ment Agency as a spe�ial flood ha�ard
<br /> area, Trustor agrees �o �btain and maintain Federal F��od lnsurance, if a�ailab�e, �ar the full unpaid prin�ipal
<br /> ba[an�e o#the laan and any pr�or li�ns on the �r�perty s�curing the laan, up to the maximum �olicy limits set under
<br /> th� Nati�nal Fl��d lnsur�nce Pragr�m, or as atherwise required by Lend�r, and ta rnaintain su�h insuran�e for the
<br /> term of�he foan.
<br /> App�icati�n af Proc�eds. Trust�r shafl promp�l� n��ify Lend�r n�F any I�ss ar damage �� �h� Proper�y. Lender may
<br /> make proaf af lass if Trustor fails ta do so vvith�n f�fteen ��5f �1ays af th� casual-�y. Vllhe�h�r ar not Lender's
<br /> security is impaired, Lender may, at Lender's e[ectiQn, r���i�e and �etain the praceeds of any insurance and apply
<br /> the pr�ceeds �� the reduc�ian of the lndebtedness, payment a� any �ien a#�ecting the Pr�perty, �r the restaratian
<br /> �nd repair of ths Property. I# L�nd�r elects ta apply th� proc��ds tn r�sta�ation and repair, Trustar shall repair or
<br /> replace the damaged or destro�ed lmpr�vements in a manner satisfactory to Lender. Lender sh.aff, upon
<br /> satis�a�tory proof of such expendi�ure, pay or reimburse Trustt�r fr�m th� pr�ceeds #�r the reasanab�e �nst of
<br /> . repair or res�t�raticrr� i� Trustor is not in defaul� und�r this Deed of Trust. Any pro�eeds vvhich ha�e no� E���n
<br /> disburs�d �nrithin �8� days after their receipt an� which Len�er has n�t committed ta the repa�r ar res��ra�i�n af
<br /> �he Pro��rty shall be used first ta pay any amount ❑v�rin� ta Lender un�er this Q�ad of Trust, th�n ta pay accru�d
<br /> int�rest, and the r�mainder, i-� any, sha�l �� applied to the principa� bafan�e af the lndebtedness. !� Lender halds
<br /> any proc�eds after payment in ful� af the Indebtedn�ss, su�h proceeds shall b� paid ta Trustor as Trustar's
<br /> interests may appear.
<br /> �vmpli�nce ►rvi�h Exis��ng �nd�bfiedness. auring the period in v�rl�iGh any Existing Indebtedness des�ribed b�law is
<br /> �n e�fect, compliance with the insu�-anc� provisi�ns contained in fih� ins�rument e�idencing su�h E�isting
<br /> Inde�tedn�ss shall canstitute c�mplian�e wi�h the ins�rance pro�isivns under this D�ed of Trust, ta the ext�nt
<br /> complEance with the t�rms a� this Qeed �f Trust would c�ns�itute a dupli�ati�n of insurance requir�ment. lf any
<br /> proceeds firam the insurance became paya�le on Ioss, the pra�isions in thi� Q�ed of Trust f�r d€Wisian of pr�ce�ds
<br /> shall apply orrly t�that p�rti�n of the proceeds n�t payab[e to the hofder of the Existing lndebtedn�ss.
<br /> LENl3ER'S E�PE�fDlTU6�ES. Ifi Trust�r fails �A} to keep th� Pr�perty free of all taxes, liens, se�uri�y interests,
<br /> encumbr�n�es, and ��her �laims, �B} to pr�vi�� any required insuranc� on the Property, ��} ta make r�pairs t� the
<br /> Property or �a camply wi�h any ab�igatian t� maintain Exis��ng Indeb�edness in gQad standing as required be[ow, then
<br /> Len�er may d� s�. �f any acti�n or proceeding is comm�nced that would materia�ly affect Lend�r's interests in the
<br /> P�aper�y, then Lender on T�ust�r's b�half may, but is n�t required �a, take �ny a��ion that Lender be�ieWes ta be
<br /> appropriate to pro�ec� Lender's interests. All expenses incurred ar paid by L�nder ��r su�h purposes wil� then bear
<br /> interes� at the �ate charged under th� No�� from �he date incurred or paid by Lender to the da�e a� re�ayment by
<br /> Trustor. A�l such e�cpenses �v��l became a part of the Indeb�edness and, at Lend�r'� option, wil! {A� b� payabl� ❑n
<br /> demand; [B} be added to the balanc� of the IVote and b� app�rti�n�d among and 6e paya6le wi�ch any ins�allmen�
<br /> pa�ments ta bec�me due durin� ��ther ��} the t�rm o� any applicable insurance poiicy; ar {2} the r�maining �erm �f
<br /> th� Note; or tCf �e trea�ed as a ba�loan payment which wilf be du� and payable at�che Not�'s ma�uri�y. The [�eed af
<br /> Trust also vuill secur� �aymen� of these amaun�s. The rights p�o�ider� far in this paragraph shall b� in addition to any
<br /> �ther rights �r any remedies to which Lender ma� be en�itl�d �n account �f any defaul�t. Any such act�on by L�nder
<br /> shall n�t be cQn�trued as cu��ng�he d�fault sa as to bar Lender from any remedV that it other�ise would haWe had,
<br /> V�1�►RRANTY; DEFENSE aF TI�'LE. The following praWisians relating t�awn�rship of the Praperfiy are a par-t o��his aeed
<br /> af Trus�:
<br /> Tdtle. Trustor w�rrants #hat: ta� Trustar holds goo� and mark�table title of re�ord tv the Property in fee simple,
<br /> -�r�e and clear �f all liens and encumbranc�s other than th�s� set f�r-�h in the Real Property descrip�ian or in the
<br /> Existing lndebtedness sec�ion t�el�w ar in any ti�le insurance poiicy, titfe report, or final title apinion 155i.1�� in faWor
<br /> �f, and aGcepted by, Lender in connecti�n wsth this �]eed of Trus�, �nd �b} Trustor has �he full ri�ht, power, and
<br /> autharity t�execute and deli�er this Deed af Trust�a Lender.
<br /> Defens� af Title. Subjec� tv �he e�€ception in the para�raph ak��We� Trustor warrants and wil� foreWer �lefiend the
<br /> title to the Property a�ainst the lawful claims o�F a[I persans. In th� e�ent any action or proce��ing is comm�nced
<br /> that questiQns Trusta�'s title or the �nterest af Trustee or Lender under this �eed af Trust, Trustor shafl defend the
<br /> actian at Trustar'� expense, Trustor may E�e the nomina� party in such proceeding, but Lender shall be �ntitled ta
<br /> parti�ipate in -�he pr�ceeding and tv be represented in the pr�ceed�ng by cQunsel af Lender's own �hoice, and
<br /> Trustar will �leliver, ar cause ta be deli�rered, to Lender such instruments as Lender may reques�t from time to�ime
<br /> ta permit such particip�tion.
<br /> �ompliance I�Vi#h Laws, Trustar warran�ts that the Praperty and Trus�or's use a� the Property �amp�ies with aCl
<br /> existing applicable laws, ordin�n�es, and regulativns ot gaWernmenta! autharities.
<br /> 5�r�ri�al a# Pr��nises. AI[ pr�mises, agreements, and stat�ments Trust�r has mad� in �his ❑e�d o�r Trust shali
<br /> survive the �x�cuti�n and deli�ery o�F�his aeed af Trus�t, sha[I be can�inuing in nature and shall �emain �n full �vrce
<br /> and e##ect until such time as Trust�r's �ndebtedness is paid in full,
<br /> EXISTING IIIlDEBTEDi11E�S. The follaw�n� pror�isians �oncerning Existing [ndebtedness are a part of tnis Deed of Trust:
<br /> Existing Lien. The lien ❑f this Deed Qf Trust securing the lndebtedness may be secandary and inferior �o an
<br /> ��cisting lien. Trustor expressly ca��nant� and agrees t� pay, or s�e �a fihe payment �rf, �he Existing Indebt�dness
<br /> and tv preWent any default on such indebtedness, any defau[t under the ins�rum�nts evid�ncing such indebtedness�
<br /> ar any default under any seGurity dacuments for such indebtedness,
<br /> IVv Illlodifica�i�n. Trustar shall not enter int� any agreemen�r with th� halder af any m�rtgager deed o� trust, or
<br /> �th�r security agreement v�rhich has �riority ower this Deed of Trust by v+�hich �hat agreement �s modifi�d,
<br /> am�nded, ex�ended, vr renevved with�ut �he pri�r writt�n Gansent of Lender. Trustar shal� neither reques� nar
<br /> accept any future ad�ances under any such security agreement wi-�hout the p�ior wri���n cvnser�t vf Lender.
<br /> C��[DEMNATID[V. The follawing pro�isions relating t� can�lemnatian proceedings are a p�rt of this �eed of Trust:
<br /> Pr�ce�dingsK If any prace��ing in candemnat�on is filed, Trustor shall pramptly n��ify Lender �n v�rriting, and
<br /> Tr�stor shall promptly tak� such steps as may be ne�essary t� �efend the a�tion and obtain the award. Trustor
<br /> may he the nominal party in such pr�ceeding, but Lender shall b� entitled ta participate in the proceeding and to be
<br /> repres�nted in the pro�eeding by counsel of its �wn choice, and Trustor v�ri�[ �eliver or caus� ta be d�li�ered fio
<br /> Lender su�h instrum�nts and documentati�n as may be requested by Lender �From -�im� to time ta p�rmEt such
<br /> parti�ipati�n.
<br /> Applica�ion af N�fi Pr�ce�ds. If all nr any part of the Property is candemned by�minen�domain praceedings or by
<br /> any prace�ding o�purchase in lieu o#condemnatian, Lender may at its election require that all ar any parti�n ofi the
<br /> net praceeds of the award be applied ta the Ind�btedness or the repair or r�storatian af the Property. The net
<br /> praceeds �f the award sha�l mean -�he award after payment of all reasanable ��sts, expenses, and af�orneys' fees
<br /> incu�red by Trustee or Lend�r in connec�tian with th�condemnatian.
<br /> IMPOSIT[�N QF TA?�ES, FEES AND �HARGES BY GaVERIVItilIEiVTAL �4UTH��ITIES. The following prov�si�ns re[ating
<br /> to�o�ernm�ntal ta�ces, fees and charges are a part o��his Dee� af Trust:
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