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2� 17� 184�
<br /> DEED �F TRUST
<br /> Loan No: 7�'I 3�'I�79 ��ont�nued� Page 4
<br /> on the proper�y s�curing the loan, up�a�he maximum p�fEcy�imits set under#he Natiana! Flaod Insurance Program,
<br /> ❑r as otherwise requ�red by Lend�r, and tv main�ain such�nsurance fvr the term of the�oan.
<br /> App�ication of Prviceeds. Trust�r sha�� promptly nati#y Lender a#any [oss ❑r damage �o the Property. Lender may
<br /> make p�ao� of Ioss if Trust�r �aEls ta da sv within �ifteen 4�5} days o� the casuaifiy. V1lhether ❑r not Lender's
<br /> security is impaired, Lender may, at Lender's efection, rece��e and retain the proceeds of any insuran�e and app�y
<br /> the proceeds to the reduction o�the �ndebtedness. payment of any [Fen affecting the Propertyr or �he restoration
<br /> and repair vf fih� Property. I� Lender eE�cts fio app�y the proceeds ta restarati�n and repair, Trustar shall repa�r or
<br /> �ep�ace the damaged or destrayed Impro�ements in a manner satis�actvey �� Lender. Lender shaIl, upvn
<br /> sa#isfactory proof ❑� such expenditure, pay or reimburse Trustor from the proceeds ��r the reasonable cos� of
<br /> repair or restvration Ef Trus�or �s no� in de�au�� under this I7eed of Trust. Any proceeds which ha�e not been
<br /> dis�ursed wi�h�n 18� days after their �e�eipt and which Lender has no� committed to the repair or restoration of
<br /> the Prape��y shall be used �Ersfi to pay any amount owing to Lender under�his Deed o�Trust� then to pay accrued
<br /> interes�, and the remainder, if any, shall be applied �o the principa� bafance at the Endehtedness. �f Lender hv�ds
<br /> any proceeds after paymen� in fulf o� �he Endebtedness, such praceeds sha1I be paid ta T�-us�or as Trustor's
<br /> interes�s may appear.
<br /> Campliance wi#h Exisfiing Indeb#edness. ❑uring the period in whEch any Existing fndebtedness described below is
<br /> in ef#ec�, camp�iance with the insurance provisians cantain�d in the ins�rument e�iden�ing such Ex�s�ing
<br /> �ndebtedness shal� �onstEtute �vmpliance with the insurance pra�isions under this Deed of Trust, ta the extent
<br /> comp��ance wi�h the terms of fihis aeed v�Trust would consti�u�e a duplication af insurance requir�men�. [# any
<br /> proceeds �rom �he insurance became payable vn Ioss. the prv�isians in this Deed o�Trust�or di�is�vn of proceeds
<br /> shali app�y vnly�o that po�-�ion of the prace�ds no�payab[e t❑the hofder��th� Existing indebtedness.
<br /> Trustor's Repor�on lnsurance. Upon requesfi of Lender, hawever nat more than ❑nce a year, Trust�r shall �urn�sh
<br /> to Lender a repor� vn sach ex�stEng poficy of insuran�e showEng: {�} the name ❑# the insurer; �2} �he risks
<br /> insured; t3} the amaunt a� the p�licy; {4� the proper�y �nsur�d, the then cur�-en� repiacement value o� such
<br /> praperty� and the manner of determ�ning�ha�value; and �5} th� �xpiration date o��he poiicy. Trustor shal�, upvn
<br /> reques�v�Lender. ha�e an indep�ndent appraiser satisfactvey to Lender defiermine the cash�afue repiacement cost
<br /> nf the Property.
<br /> LENDER'S EXPENDITURES. If any ac�ion or proceeding �s commenced that would materially a'F�ec� Lender's Enterest in
<br /> the Property �r if Trustor fails�� compiy with any pro�isian o��his Deed of Trust ar any Re[ated ❑acumen�s, �ncluding
<br /> but na� limi�ed �a Trus�or's fai�ure ta camply w�th any ob�iga�ion t� maEn�ain Existing Endebtedn�ss in gavd standing as
<br /> required beEow, or to discharge nr pay when due any amounts Trustor is required t�d�scharge❑r pay under rh�s ❑eed ot
<br /> Trust or any Re�a�sd D�cuments, Lender vn Trustor's beha[� may �but sha�i nat be oh�igated fioy take any act�on that
<br /> Lender deems appropria�e, including but no# �imited �o dischar'ging o� paying aE� �axes, �iens, securi�y in�eres�s,
<br /> encumbrances and other c[aEms, afi any time i��i�d ar placed on the Property and paying a�l costs �ar insuring,
<br /> maintaining and preser�ing the Prvper�y. All such expenditures incurred vr paid by L�nder for such purpos�s will then
<br /> bear infierest at�he rate charged under the Nate �rom th� da�e incurred ar paid hy Lender to the date o� repaym�n� by
<br /> Trustor. A�I such expenses will hecome a part vf the indebfiedness and, at Lender's option, wi1� �A} be payable on
<br /> demand; �B} be added �n �he balance of the Nate and be appartEoned among and be payable with any ins�a��ment
<br /> payments �a become due during eithe� t 1 y fihe term of any applicab�e insurance poli�y; or �2f the remaining term of
<br /> the Not�; ❑r ��} be treated as a ba�Eovn payment which wif[ be due and payable at the Note's ma#urity. The ❑eed ❑f
<br /> Trust also wi�! secure payment af these amounts. Such r�ght shai� be in additian to a�� ather rights and remed�es �o
<br /> which Lender may be entitled upvn Default.
<br /> WARRANTY; DEFENSE�F TITLE. The foilnwing pro�isions relating to ownership of the Property a�-e a part of this fleed
<br /> of Trusfi:
<br /> Ti�le. T�us�or warrants that: {a� Trustor ho�ds gvod and marl�etable tifil� o� record to the Proper�y �n fee simp�e,
<br /> free and c�ea� of a�� liens and encumbran�es ather than those set torth En the Rea[ Property descriptian or in the
<br /> Existin� �ndebtedness sectian below or in any�i�le insurance po[icy, tifile repart, or�inal title opinian issued in fa�or
<br /> afi, and accepted by, Lender in �annectivn with this ❑eed af Trust, and �b} T�ustor has the fu[E right, powe�-, and
<br /> au�hority�v execu�e and deli�er this Deed❑�Trust to Lender.
<br /> Defense of Ti�le. Subject �o the exception �n #he paragraph abv�e� Trustor warrants and wi[I �ore�er defend �he
<br /> title to the Property agains�the Iawful cla�ms ❑�all persons. In �he e�ent any actian or proceeding is commenced
<br /> that questions Trustar's�it�e or the in�erest of Trus�ee ar Lender under this Deed vf Trust, Trustar shall de�end �he
<br /> a�tion at Trus�or's expense. Trustor may be the nominai par�y in such prviceeding, bu# Lender shai! be enti#Eed to
<br /> participate in the proceeding and �o be represen�ed En �he pro�eedin� by cvunssl o� Lender's vwn choice, and
<br /> Trus#ar wili de�i�er� or cause�o be de���ered� t❑ Lender such instruments as Lender may request frvm time to �ime
<br /> to permit such parfiicipa�ion.
<br /> Comp��ance Vllith Laws. Trustor warran�s tha� �he Property and Trustor's use of the Property complies with all
<br /> exist�ng applica�le Iaws, ardinan�es, and reguiations ❑#go�ernmental auth�rities.
<br /> Sur�ivai af Representations and Warran�ies. A[[ represen�a�ions, warranties, and agreements made fay Trustor in
<br /> this ❑eed of Trus�shaI[ sur�ive the execution and delfvery o�this Deed of Trus�, shail be continuing in natu�-e, and
<br /> shaii remain in�uii�orce and e��ect untE�such time as Trustor's �ndebtedness shal! b� paid in ful�.
<br /> EX�STIN� 1NDEBTEDNESS. The fol�owing pr��isians concerning Existing �ndebtedn�ss ar� a part vf this Deed❑f T�-ust:
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