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2� 17�2327 DEED �F TRUST Loan No: 'I�13�3��'� �Cc�ntin ued� Rage 4 reasonably ac�eptabte to Lender. Trustor, upan �equest ❑f Lender, will deli�er t❑ Lender fram �ime to time the polici�s or certificates of insuran�e in form satisfactory to Lender, in�luding stipulations that co�erages will not be Gancefled or diminished without at I�ast ten �1�y days priar written notice to Lender, Ea�h insurance palicy afso shall fnclude an endorsement pro�iding that co�erage in fa�or of Lender will nat be impaired in any way by any a�t, ❑mission or default of Trustar ar any other persan. Should the Real Praperty be located in an area designat�d by th� Adminis�rator of the Federal Emergency Management Agency as a specia� fiood hazard area, Trust�r agrees to obtain and maintain Federaf F1ood Insurance, if a�ailable, for the full unpaid principal balance �� the laan and any priar liens ❑n rhe prQperty securing the loan, up t❑ the maximum pfllicy IRmits set under the National F�ood Insurance Program, ar as atherwiSe required by Lender, and to maintain such insurance far the t�rm �f the �oan. Application vf Pra�eeds. Trustor shall promp�ly natify Lender �f any lass or damage t❑ the Property. Lend�r may make praof of lass if Trus�or fails t❑ do sa within fifteen ��5� days flf the casualty. Whether ar not Lender's security is impaired, Lender may, at Lender's election, re�ei�e and r�tain the proceeds ❑f any insuran�e and apply the praceeds to the reduction of the Indehtedness, payment o# any lien affecting the Property, or the restoration and repair of �he Property. If Lender eiects to apply the pr�ceeds ta restoration and repair, Trustor shall repair or replace the damaged or destroyed Impro�ements in a manner sa�isfactory tv Lender. Lender shall, upon satisfactory pr�af �f such expenditure, pay or reimburse Trusfi�r �rom the pr�ceeds for the reasonab�e cast o� repair or restvrat�on if Trustor is n�t in default under this �eed �f Trust. Any pr�ceeds which ha�e not been disbursed within 18� days after their receipt and which Len�er has nvt cvmmi�ted to the repair ❑r r�storation of the Proper�y shall be used �irst t❑ pay any amount ❑wing to Lende� under this ❑eed of Trust, then ta pay accrued interest, and the remainder, if any, shaf� he appiied to �he p�in�ipal balan�e ❑f the Indebtedness. If Lender hofds any prfl�eeds after payment in full of the Indebtedness, such praceeds shall be paid to Trustor as Trustor's interests may appear. Compliance with Existing Indebtedness. Du��ng the periad in which any Existing fndeb�edness described below �s in effie�t, compliance with the Fnsurance pr��isions c�ntained in the instrument e�idencing such Existing Indebtedness shai� constitute compliance wEth the insuran�� pr��isians under this Deed of Trust, t❑ the extent compliance with the terms ❑f �his Deed of Trust would constitute a duplication of insurance requirement. if any pr�ceeds �rom the insurance become payable an loss, the pro�isions in th�s Deed of Trust for di�ision ❑f praceeds shaRR apply only tQ that portian of the proceeds nat payable to the hoider of the Existing lndebtedness. Trustvr's Report on Insurance. lJpan request af L�nder, hawe�er not more than once a year, Trustor shali furnish tv Lender a report ❑n each existing palicy ❑f insurance showing: {17 the name of the insurer; �� the risks insured; �3� the amount o� the policy; (4y the property insured, the then current r�pla�ement �alue of su�h property, and the manner af determining that �alue; and �5} the expiratian dat� of �he policy. Trustor shaf�, upon request of Lender, ha�e an independent appraiser satis#actory ta L�nder determine the cash �alue replacement cost of the Properfy. LENDER'S E�CPENDITURES: If any action ❑r praceeding is commenced that would mat�rialfy affect Lender's interest in th� Property or if Trustor fails to compiy with any pro�isian of this ❑eed of Trust �r any Re�ated Documents, including but nat limited to Trustor's failure to comply with any ❑bligation �o maintain Existing Indebtedness in goad standing as required belaw, or ta discharg� or pay when due any amounts Trustor is required to discharge or pay under this D�ed of Trust ❑r any Refated ❑o�uments, Lender an Trustar's behalf may tbut shal! nat be obfigated to� take any action that Lender deems appropriate, including but not limited ta discharging ar paying a!! taxes, liens, se�urity interests, encumt�rances and ❑ther claims, at any time le�ied ❑r pfaced on the Property and paying all costs for insuring, ma�ntainin� and pres�r�ing tre Property. All such expenditures incurred or paid by Len�ler fior such purpases wiil then bear interest at the rate charged under the Note fr�m the date incurred or paid by Lender t❑ �he date of �epayment by Trustor. All such exp2nses wil� becflme a part af the Indehtedness and, at Lender's ❑ption, will �Ay be payable an demand; �By �e added to the balan�e of the Note and be apportioned among and be payab�e with any installment payments to become due during either �1 y the term of any applicable insurance paficy; nr ��y the remaining term of the Note; �r �C� be treated as a balla�n payment which will be due and payable at the Note's matur�ty. The ❑eed of Trust also w�ll secure payment o� these amaunts. Such r�ght sha�l be in addition t❑ ai� other �ights and �emedies ta which Lender may be entiti�d upan Default. WARRANTY; DEFENSE �F T1TLE. The fallawing pra�isians reiating t� ❑wnership ot the Property ar� a part af this ❑eed af Trust: Title. Trustor warrants that: �a� Trustor halds g�od and market�hle title of r�card t❑ the Property �n fee simple, free and clear ❑f a!I liens and encumhran�es a�h�r than those set forth in the Real Property descriptian or in the Existing Indebtedness sectian below flr in any �itle insurance policy, title repor�, or fina� titie opinion �ssued in fa�or of, and accepted by, Lender in connection with �his Deed o� Trust, and �b} Trustor has the fulf right, pawer, and authority to execute and deli�er this D��d �f Trust to Lender. Defense ot Ti#le. Subject t❑ the �xcept+on �n the paragraph abo��, Trustor warrants and wi11 fore�er defend the title to the Property agains� the lawful claims of all persons. In the e�ent any action ar praceeding is commenced that questions Trustor's title or the interest of Trustee ❑r Lender under this Deed ❑f Trust, Trustor shall defend the activn at T�ustor's expense. Trustar may be the nominal party in such proceeding, but Lender sha�l be entitled t❑ participate in the pr��eeding and t� be represented in the proceeding by counsef o� Lender's ❑wn ch�ice, and Trustor will deli�er, or cause to be deli�ered, ta Lender such instruments as Lender may request fram time ta time to permit such participation.