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2� 17�23��
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<br /> DEEI� �F TRUST
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<br /> �Gontlnue } Page 3
<br /> P�operty in an amount sufficient ta a�v�d appiicatian ❑# any coinsurance �lause, and wi#h a standard mortgagee
<br /> clause in faWor of Lender. Trustor shall also procut� and maintain ��mprehensive genera! liabili�y insurance in such
<br /> caWerage amaunts as Lender may request with Trustee and Lender laeing named as additional insureds in SLJC�'1
<br /> liability insurance policies. Additianally, Trust�r shall mainta�n su�h other insurance, including but nat �irnited ta
<br /> ha�ard, business interruption, and bailer insurance, as Lender may reasonably require. Policies shall be written in
<br /> fvrm, amounts, caverages and basis reas�nahly a��eptable tv Lender and issued by a company �� companies
<br /> reasonab�y acceptable t❑ Lender. Trustvr, upan �eques� af Lender, vwilf deliver to Lender fram time t� tim� the
<br /> pali�ies vr ��rtificates of insuranc� in farm satis�actory ta Lende�, in�Euding stipulations that �vverages rnri�! not be
<br /> cance�led Qr diminished withvut at least thi�ty �3�� days pr�or wrEtten notiGe t❑ Lender. Each insurance p�Ei�y alsa
<br /> sha11 in��ude an endarsement praviding that cv�erage in fa�or af Lender will n�t be impaire�i in any way by any act,
<br /> �m�ssion or default ofi Trustar ar any ather persan. Sh�ufd the Rea1 Proper�y b� Ioca#ed in an area designated by
<br /> the Administrator af the Federa[ Emergency Management Agency as a spe�ial fl�od hazard area, Trus�or agrees tv
<br /> obtain and maintain Federal Fload Insurance, if availab�e, within 45 days af�er notice is giv�n by Lender that the
<br /> Pr�perty �s IoGated in a special ffood hazard area, fvr the full unpaid prin�ipal balance af the Ivan and any pri�r liens
<br /> on the property se�ur�ng the laan, up t❑the maximum po�i�y limits set under the 1Vat�onal Flood Insuran�e Prog�am,
<br /> or as atherwis� required by Lender, �nd to maintain such insuranGe for the term vf the laan.
<br /> Application of Proceeds. Trustar shall pramptly nfltify Lender Qf any I�ss or damage to the Prop�rty. Lender may
<br /> make proof ❑f ID55 if Trustar fails ta dv so within fifteen {1 5� days af the casualty. ='""��- ��-�} '���'"''"
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<br /> - , ' , TrustQr shal� repair or
<br /> r�place the damaged or destrayed Impro�ements in a manner satisfactory �� Lender. Lender shall, upan
<br /> satisfactary provf af suGh expend�ture, pay or reimburse Trustor fram the pr�ceeds fvr the �easonable cvst af
<br /> repair ar res�aration if Trust�r is not in default under this Deed vf Trust. Any praceeds which hav� n�� �een
<br /> disbursed within "18� days after their receipt and which Lender has n�t c�mmitte� t❑ the repair ar restoratian �f
<br /> the Prvperty shall be used firs#ta pay any amaunt �wing t� Lender und�r this Deed v#Trust, th�n to pay a�crued
<br /> interest, and the remainderr k� �C1�I, shall be appli�d t� the principal balance of the lndebte�lness. If Lender holds
<br /> any proc��ds after payment in ful� Qf the Indebtedness, such pr�ceeds shall be paid ta Trustvr as Trust�r's
<br /> interes#s may appear.
<br /> Trustor's Report on Insurance, Upon request of Lender, however nv� rnare than once a y�ar, Trustor shall furnish
<br /> to Lender a report on e�ch existing policy of �nsuranc� showing: �1� the name of the insurer; �Z} the f15I45
<br /> insu�ed; �3� the amount �f the p�ficy; {4} the p�operty insured, the then �urrent replacement va�ue of such
<br /> prope�ty, and the manner af determining that Walue; and �5� the expirat�on date vf the pali�y. Trustar shall, upan
<br /> request of L�nder� hav� an independent apprais�r sa#isfactvey ta Lender determin�the �ash value replacement cast
<br /> vf ths Property.
<br /> LEIVDER'S E�CPElVDITURES. If any action or proceeding is commen�ed that vvauld material�y afi��ct Lender's interest in
<br /> the Property Q� if Trustor fails to camply with any prv�isian a��his Deed vf Trust or any Related aocuments, �nc�uding
<br /> but nat limit�d t� Trustvr's fai�urs tv discharge ar pay v�rhen due any amounts Trustar is �equired ta discharge or pay
<br /> under this Qeed af Trust ar any Fielat�d Dacuments, Lender vn Trusto�'s behalf may �bu�shall nat be obligatsd ta} take
<br /> any action that Lender deems appropriate� inc�uding but not �imite� to dis�harging or paying atl taxesi I12�15� security
<br /> interests, en�umbrances and ather cla�ms, at any tirne ieWied or placed vn the Praperty and paying all costs for insuring,
<br /> maintaining and preser�ing the Prop�rty. All su�h expenditu�es incurred or paid lay Lender fflr su�h purposes wil� then
<br /> bear interest at the rate char�ed under the Nate fram �he dat� �ncurred or paid by Lender to th� date vf r�payment by
<br /> Trustor. A�i such exp�nses will became a part of th� Indebtsdn�ss and, at Lender's optivn, will [A� be payable vn
<br /> dernandr tB} be add�d t❑ the balan�e �f the Nat� and be apportivned am�ng and be payable with any installment
<br /> payments tv becoms due during e3ther �1 y the t�rm vf any app�iCable insurance po�icy; ar �2} the remaining term af
<br /> the IVote; a� tC� be treat�d as a ballaon payment which will be due and payable at the Nate's maturity. The Deed �f
<br /> Trust als❑ will s�cure payment a� these amQunts. Such right shall be in additEon t� all other rights and remedies t�
<br /> whiGh Lender may be entitled upon De�ault.
<br /> WARRANTY: DEFENSE�F TITLE. The fallaw�ng pravisiQns relating t� ownership of the Property are a part❑f this De�d
<br /> vf Trust:
<br /> Title. Trus�ar warrants that: ta} Trustar h�lds gaod and ma�rketable titl� af re�ord to the Property in fee simple,
<br /> free and clear o� all liens and encumbran��s other than those set f�rth in the Real Property description ar in any
<br /> title insurance policy, �itle repart, ar final t�tle apinion issued in favor of, an� accepted by, Len�ler in cQnnecti�n
<br /> with th�s Ds�d vf Trus�, and �by Trustor has the �ull �ight, pawer, and autharity to execute and de�iver this Deed af
<br /> Trust to Lender.
<br /> Defense o� Title. Subje�t ta the exceptian in the paragraph a}�vWe, Trustor warrants and will f�re�er defend the
<br /> tttl� ta the Property against the lawful claims vf a!! persons. In the eWent any action ar proceeding �s cammenced
<br /> that quest�ons Trustvr's ti�1e or the interest af Trustee or Lend�r under this Deed af Trust, Trustor shal� defend#he
<br /> a�tion at Trustor's e�cpense. Trustor may be the naminal party in su�h pro�eeding, but Lender sha11 bs entitled to
<br /> participa�e in the proceeding and to b� repr�sented in th� proceeding by �aunse! �f Lender's ovvn ch�ice, and
<br /> Trustor wEl! d�fiv�r, vr cause tv be deli�ered, ta Lender such instruments as Lend�r may requ�st from time #v time
<br /> ta permit such parti�ipatiQn.
<br /> Camp�iancs Vlli#h Laws. Trustvr warrants that the Prvperty and Trustor's use a� the Prvperty complies with all
<br /> existing app�i�abl� laws, ordinances, and regula��ans vf go�ernmental authoriti�s.
<br /> Sur�ival vf Repressntat�ons and Warranties. All represen�ations, warran#ies, and agreements made by Trus�or in
<br /> �his Deed of Trust shall sur�ive the executiQn and �eli�ery af this ❑eed a#Trust, shall be continuing in nature, and
<br /> shall remain in full#or�e and ef�ect until such time as Trustvr's Indeb�edness shall be pa�d in full.
<br /> C�NDEIVINATI�N. The f�ll�wing provisivns relating�v c�ndemnativn prviceedings are a part of#his Deed af Trust:
<br /> Proceedings. lf any proceeding in condemnation is filed, Trustor shall prflmptly notify L�nder in �rvriting, and
<br /> Trustor shali prvmptfy ta�e such st�ps as may be ne�essary t� de�end the actian and o�tain the award. Trust�r
<br /> may be the nvminal party in such pra�eeding, but Lender shall be entit�ed tv participate in the pro�eeding and to be
<br /> representgd in the proceedin� by counse! �f its �wn choice, and Trustvr w�ll delEWer or cause to b� deli�ered to
<br /> Lender such instruments and dv�umentation as may be r�ques#ed by L�nder from time �a time ta permit such
<br /> participat�on.
<br /> Applicat�an af Net Proceeds. If all ar any part of the Praperty is condemn�d by eminent damain pra�eedings ar by
<br /> any procee�ing or purchase in lieu af cvndemnation, Lender may at its eleG�ion requi�e that all or any por�i�n of the
<br /> net proceeds of the awa�d be appli�d ta the lndebtedness or th� rgpair or restoration of the Property. The net
<br /> prviceeds af ths award shal� mean the avvard after paym�nfi of all reasonable c�sts, expenses, �nd att�rneys` fees
<br /> �ncurred by Trustee or Lender in cvnnec#i�n with the c�ndemnat�an.
<br /> IMPQSITI�N OF TAXES, FEES AND CHAR�ES BY G�VERNMENTAL AUTHDR1TlE5. The fvllowing p�'vvisivns relating
<br /> to ga�ernmental ta�ces, fe�s and charges are a part❑f this Deed of Trust:
<br /> Current Taxes, Fe�s and Ghargss. Upon request by Lend�r, Trustar shall execute such dvcuments in addition ta
<br /> this Deed ❑f Trust and take what�Wer o�rher actian is requested by Lender to perfect and cantinue Lender's lien on
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