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2� 17�27��
<br /> DEED �F TRUST
<br /> L�an No: 'I�'I 3Q4145 ��ontinu�d} Page 4
<br /> the prviceeds to the reduct�on Qf the Indebt�dness, payment ❑f any lien affecting the Prap�rty, or the restoration
<br /> and repair o� the Prvper#y. If Lender eleGts to apply the proceeds to restaration and repair, Trustor shall repair �r
<br /> repiac� the damaged nr destroyed Impro�ements in a manner satisfactory ta Lender. Lender shall, upon
<br /> satisfactary pr��f af such expenditure, pay ❑r reimburse T�ustar fram th� prviceeds for the reasvnable c�st of
<br /> repair ar restoration if Trustor is nat in default und�r this C�eed of Trust. Any pr�ceeds which ha�e nflt been
<br /> disbursed within 18fl days after their re�eipt and which Lender has nvt committed ta the repair or restara�tion of
<br /> the Property shall �e used firsC tv pay any amount owing to Lender under this Deed af Trust, �hen t� pay accrued
<br /> interest, and the remaind�r, if any, shall be applied t❑ th� principal balance vf the Indehtedness. If Lender ht�fds
<br /> any prviceeds after payment in fu1! ❑f the Indebtedness, such pr�ceeds shall he paid to Trustor as Trustor's
<br /> in�erests may appear.
<br /> CvmpEiance with Existing Indebt�dness. During the per�od in which any Existing Indehtedness described belaw is
<br /> in effect, �ompliance with the insurance pro�isians contained in the instrument ��idencing such Existing
<br /> Indebtedness shall constitute �ompliance with the insurance pro�isivns under this ❑eed of Trust, to the extent
<br /> compliance with the terms a# this Deed v� Trust wouid constitute a duplicativn of �nsurance requirem�nt. If any
<br /> proceeds frvm the insuran�e be�vme payable on foss, the pro�isions �n this �eed of Trust for di�isifln vf prviceeds
<br /> shall apply only to that port�on of the proceeds not payable to the halder of th� Existing Indebtedness,
<br /> Trustor's Repvrt nn Insurance. Upon request of Lender, hawe�e� not more than ❑nce a y�ar, Trustar shail �urnish
<br /> ta Lender a report on each existing policy of insurance showing: {1� the name of #he insurer; {�y the risks
<br /> insured; �3y the amount vf �he pvli�y; �4} the praperty insured, the then current replacement �alue of such
<br /> praperty, and th� manner of determining that�alue; and �5� the expirativn date of the pt��icy. Trustor shall, upon
<br /> request�f Lender, ha�e an independent appraiser satisfa�tary to Lende�determine the cash �alue rep�acement�ost
<br /> o#the Property.
<br /> LENDER'S EXPENDITURES. If any a�tinn or proceeding is c�mmenced that wauld materially atfe�t Lend�r's interest in
<br /> the Prop�rty ❑r i� Trustor fails tn compiy with any pra�ision ❑f this ❑eed v€ Trust or any Reiated Documents, inciuding
<br /> but nat limited t� Trustor's failure tv �ompiy with any obligatian t❑ maintain Existing indebtedness in good standing as
<br /> required bel�w, ❑r t�discharge ar pay wh�n due any amounts Trustor is required ta dfscharge ar pay und�r this Deed ❑f
<br /> Trust or any Re�ated Do�uments, Lender nn Trustor's �ehal� may �but shall nat be obligated to� take any actian that
<br /> Lender de�ms apprapria�e, including but not iimited �v discharging or paying all taxes, liens, security interssts,
<br /> encumhrances and oth�r claims, at any time le�ied �r placed an the Pr�perty and paying all costs #or insuring,
<br /> maintaining and preser�ing the Property. All such expenditures incurred ar paid by Lender far such purposes will then
<br /> bear interest at the rate charged under the Note �rom th� date incurr�d or paid by Lender to the date of repayment by
<br /> Trustor. All suCh expenses will became a part �f the Indebt�dness and, at Lender's aption, wil� �A� be payable on
<br /> demand; �6y be added to the ba�ance af the Note and �e apparti�ned among and b� payabie with any installment
<br /> payments t❑ become due during either �1� #he term ❑f any applicab�e insuran�e pnli�y; or �2} the remainin� term of
<br /> the Nvte; or ��} be treated as a ball�on payment whi�h will be due and paya�le at the Note's maturity. Th� Deed af
<br /> Trust alsa wiil secure paym�nt of these amounts. Such right shall be in addition to a�� o�hsr rights and remedies to
<br /> which Lender may be entitled upon ❑efault.
<br /> VIIARRANTY; ❑EFENSE C�F TITLE. The following pr��isivns r�lating t❑ ❑wnership of the Property are a part of this Deed
<br /> af Trust:
<br /> Title. Trus��r warrants that: �a� Trustor hoids good and marketable title af recard to �he Prvperty in tee simpie,
<br /> free and clear af a!� liens and encumhranc�s other than thase set farth En the Reai Praperty descriptian or in the
<br /> Ex�sting Indebtedness se�tion below �r in any title insu�ance poli�y, title report, or ftnal title �p�nion issued in fa�ar
<br /> of, and ac�epted by, Lender in �annection with this Deed c�f Trust, and �b7 Trustvr has the full �ight, power, and
<br /> authority t�execute and deli��r this Deed of Trust to Lender.
<br /> Defense af Title. 5ubje�� ta the exceptian in the paragraph aho�e, Trustor warrants and wili fare�er d�fend th�
<br /> title to the Property again�t the lawfui claims ❑f ail persons. In the e�ent any action or prace�ding is commen�ed
<br /> that questions Trustar's title ar the �nteres��f Trust�e ❑r Lend�r under this Deed �f Trust, Trustar shali de#end the
<br /> action at Trustor's expense. Trustor may be the naminal par�y in such prv�eeding, but Lender shall be en�it�ed to
<br /> participate in the proGeeding and to be represented in the proceeding hy �ounsel vf Lender's own choice, and
<br /> Trustor wis� deli�er, or cause t❑ be deli�ered, to Lender such instruments as Lender may r�quest from time to �ime
<br /> ta permit such par#icipation.
<br /> �ompfiance With Laws. Trustar warrants that the Property and Trustvr's use ❑f the Property �omplies with all
<br /> existing applicabl� iaws, ordinan�es, and regulations of go�ernmentai auth�rities.
<br /> 5urvi►►al ❑f Representations and Vllarranties. All repres�ntations, warranties, and agreements made by Trustor in
<br /> this ❑eed of Trust shall sur�i�e the �xe�ution and deli�ery of this Deed af Trust, shall be cdntinuing in nature, and
<br /> shall remain in full forc� and effect unti� such time as Trus�vr's Indebtedness shall be paid in fui�.
<br /> EX�STiNG IN�EBTEDNESS. The fo��owing pro�isions concern�ng Existing Indebtedn�ss are a part of this Deed af Trus�:
<br /> Existin� Lisn. The lien of this �eed of Trust securing the Indebtedness may be secondary and inferi�r to an
<br /> exis�ing lien. Trustvr expressly co�enants and agrees t❑ pay, or see to the payment �f, the Ex�sting Indebtedness
<br /> and to pre�ent any default an such indebtedness, any default under the instruments e�idencing such indebtedn�ss,
<br /> vr any detault under any security dvcuments fvr such inde�tedness.
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