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2� 17�2334 DEED �F TRUST " Laan No; '1�13D39�� Conti�ued} Page 4 policies or certifi�ates o� insurance in fiorm satisfactvey ta Lender, includin� stipula�ions that cv�era��s wi�� no� be cancelled ❑r diminished wi�hou�k a� leas��en �� days prior wri�ten natice to Lender. Each insurance policy also shall include an endvrsement proWiding tha�ca�erage in fa�or of Lender will not�e impaired in any way by any ac�, omission ❑r defaul� ❑#Trustar or any o�her person. Shaufd the Real Prap�rty be lvcated in an area designated by the Adminis�rafivr vf�he Fed�ral Emergency Management Ag�ncy as a specia[ flaod ha�ard area, Trus�ar agrees �o obtain and main�ain Federal Flaod Insurance, f�f a�ailable, within 45 days after notice is gi�en by Lender fihat the Proper�y is lacafied in a special flaod hazard area,-�or the full unpaid principal balance❑f the loan and any prior�iens �n the pr�per�y securing fihe Ivan, up fio the maximum policy limits set under the Nafiional Flovd Insurance Program, or as❑therwise required by Lender, and�o maintain such insurance for�he term ot the Ioan. Applica�ion of Proceeds. Trustor shall promptly notify Lender of any Ioss �� damage�o �he Property. Lender may make proo� of loss if Trusto� fails to d❑ s❑ within fif�een �15} days ❑f �he casual�y. 1Nhe�her or no�k Lender`s security is �mpaired, Lender may, afi Lender's election, recei�e and retain the praceeds ❑f any insurance and apply the proceeds to �he reductivn ❑�the Indebfiedness, paymen� ❑f any li�n affiecting �he Property, or the restora�ion and repair ❑f fihe Property, l� Lender elec�s to apply�he pr�ceeds ta restora�ion and repair, Trus�or sha[l repair ar replace fihe damaged or destroyed f mpro�ements in a manner satis�ac�ory �❑ Lender. Lend�r shall, upon sa�is�actory praof ❑� such expendi�ure, pay �r reimburse Trustor �From �he prvGeeds �or the reasonable cast ❑f r�pair ❑r- restoration i�f Trustor is no� in defaul� under this Deed o� T�ust. Any proceeds which haWe nvt b�en disbursed v+rithin 18� days after�heir re�eip� and which L�nder has not cammitted �a the repair ❑r res�ora�ian ❑f �he Proper�y shali �e used first�o pay any amount�wing t❑ Lender under�his ❑eed o�Trust, then �❑ pay accru�d in�eresfi, and the remainder, if any, sha�i be applied �o �he principal balance �f the fndebtedness. If Lender hvlds any praceeds af�er paymen� in full of the �ndebtedness, such p�oceeds shal� be paid to Trustor as Trustar's interes�s may appear. Trustar's Repor#on lnsurance. Upon requesfi o� Lender, howe��r nat mor�than vnc� a year, Trus�or shall �urnish to Lender a repvrt on each exis�ing policy ❑� insurance showing: �1} the name o# the insur�r; �2} fihe �isks insu�-ed; {3} the am�unt ❑fi the pvli�y; �4} �he proper�y insured, the then current replacement �alue o� such property, and the manner❑f determining that�alue; and �5} fihe expi�-afiion date ofi�he pali�y. Trus�or sha�l, upon request o�L�nder, haWe an independen�appraiser satisfa��ory to Lender determine the �ash�alue replacement cost o�the Property. LENDER'S E�PENDITURES. [f any action vr prviceedin� is �ammenced that would materia��y affect Lend�r`s in�eres� in the Praperty ❑r i�Trustvr fails to comply wi�h any p�ra�isian o��his ❑eed �f Trust or any Related ❑ocumen�s, including but nat limited t❑ Trustor's �ailure �v dis�harg� ❑r pay when due any amvunts Trusfior is requ�red fiv d�scharge ar pay under this Deed of Trust vr any Re�ated Dvcuments, Lender on Trustar's behalf may �bu�shafE not be ❑bligated to} take any action that Lender deems apprapria�e, including bu� not �imited ta discharg�ng ar paying all �axes, liens, secur�ty in�erests, encumbran�es and ❑�her ciaims, at any time I�Wied or placed an the Property and paying all casts for insuring, main�aining and preserving �he Property. All such expenditures incurred or paid by Lender�or su�h purposes will �hen bear in�erest at the rate charged under the Note fram the da�e incurred ar paid by Lender�o �khe da�e af repayment by Trustor. All su�h exp�nses wii! become a par� ❑f the lndebfiedness and, a� Lender`s op�ivn, will {A} be payable on demand; �B� be added fio the ba�ance of the Note and be appor�ioned among and be payab�e w�th any instaliment paymen�s to �ecome due during either ��} �fihe fie�m ❑fi any applicab�e insurance pali�y; or �2� �he �-emaining te�m of the Nvte; �r �C� be �reated as a 1aallvon payment which wii� be due and payabfe at the Na�e's ma�urity. The Deed of Trus� also will secure payment ❑f these amounts. Such right shall be in addi�ion to all o�her rights and remedies �to which Lender may be en�i�led upon Defau�t. WARRANTY; DEFENSE❑F TITLE. The fo�[awing prv�isions relafiing tv ❑wnership v�the Prvper�y are a par�af this ❑eed o�Trus�: Title. Trus�vr warrants that: �a} Trus�vr holds go�d a�d marke�a�le tEfile ❑f recvrd tv the Property in �fee simple, free and c[ear af all liens and encumbran�es other�han thos� set forth in the Real Proper�y description or in any title insu�ance policy, �i�le report, or final title opinion �ssued in fa�or ❑f, and accepted by, Lender in connection wi�h�his [�eed o�Trust, and {b} Trustor has�he full right, pawer, and au�hority t❑execufie and deliWer�his I�eed of Trust t❑ Lender. Defense ❑�Ti�1e. Subjec� to �he excep�ion in the paragraph abo�e, Trustor warrants and wi�i �Fare�e�' de�end the �i�le t❑�he Proper�y against the law�ul claims o�all persons. In the eWent any ac�ian ❑r proceeding fs commen�ed �ha�quesfiions Trustor's title or the interes�❑f Truste� or Lender under�his ❑eed of Trusfi,Trus�vr shall defend the ac�ion at Trus�or's expense. Trustor may he the nomina� party in such proceeding, but Lender shaI1 be enti�led ta participate in the proceeding and to 1ae represented in the praceeding by counsel vf Lender's awn �hvice, and Trustor w��l deli�er, ❑r cause t❑ be deliWered, �v Lender such insfiruments as Lender may request frvm time t❑time to permi�such participa�ion. �vmpliance With Lav►rs, Trustor warrants that the Praperty and Trus�vr's use ❑� fihe Properfiy camp�ies wi�th aIl existing applicab�e �aws, ❑rdinances, and regula�ions of go�ernmental autharities. Survi�ral vf Representat�vns and V�arran�ies. Ail representations, warranties, and agreements made by Trustor in �his Deed of Trust shall sur�i�e the execu�ion and de�i�ery af this ❑eed D�T�'u5�, shall be continuing �n nature, and sha�� remain in�u��orce and �ffec�unti�su�h�ime as Trus�or's Indebtedness sha�� be paid in full. CDNDEMNAT[ON. The f�llvwing prv�isians re�a�ing�o condemnation proc�edings are a part o�this Deed af Trus�: