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2� 17�2�93
<br /> DEED �F TRUST
<br /> Laan N�: 'I D 7 3�383D �C�ntinued� Page 4
<br /> the pr�ceeds ta the reduction ❑f the tndebtedness, payment ❑f any lien affecting the Property, or the restaration
<br /> and repair ❑� the Property. If Lender elects to apply the praceeds t❑ restorativn and repair, Trustvr shall repa+r or
<br /> repiace the damaged ❑r destroyed Impra�em�nts in a manner satisfactory to Lender. Lender shall, upon
<br /> satisfa�tory proof of such �xpenditure, pay ❑r reimburse Trust�r from the proceeds fvr the reasanable cost of
<br /> repair or restvrati�n if Trustvr is not in de€aul� under this Deed o� Trust. Any proceeds whi�h ha�e not been
<br /> disbursed within 7$� days after their receFpt and which Lender has nat cammitted t❑ the repair or restvration of
<br /> the Property sha[! be us�d first to pay any amount �w�ng to Lender under this Deed ❑f Trust, then ta pay accrued
<br /> interest, and the remainder, if any, shali be applied to the principa� balance of the Indeb#edness, �f Lender ho�ds
<br /> any praceeds after payment in #ull vf �he Indebtedness, su�h proc�eds shall be paid ta Trustor as Trustor's
<br /> interests may appear.
<br /> Comp[iance with Existing Indehtedness. During the perivd in which any Existing Indebtedness described below is
<br /> in effect, compliance with the insuran�e pro�isions cantained in the instrument e�idenc3ng SI�Ch Extsting
<br /> lndebtedness shali constitute compliance with the insurance prv�isions under this Deed of Trust, to the exten�
<br /> �ompliance with the terms of this Deed of Trust would constitute a duplicat�an of insurance requirement. lf any
<br /> prviceeds fram the insuran�e hecome payable ❑n I�55, the pro�isions in this Deed of Trust far di��sion �f praceeds
<br /> shall apply anly t❑that partion ❑f the proceeds not payable ta the holder af the Existing Inde��edness.
<br /> Trustor's Report on Insurance. Upon request ❑f Lender, hawe�er no� more than once a year, Trustor shall fu�nish
<br /> tv Lend�r a repart an ea�h existing policy af insurance showing; �1 y th� name ❑f the insurer; �2� the risks
<br /> insured; �3y the amaunt �f the policy; �4y the praperty insured, the then current replacem�nt �alue of sueh
<br /> property, and the manner af det�rmining that�alue; and �5� the expirati�n date af the pa�icy. Trustor shall, upon
<br /> request of Ler�der, ha�e an independent apptaiser satisfactory�o Lender determine the cash �alue rep�a�ement cost
<br /> vt the Property.
<br /> LENDER'S EXPENDITURES. If any action or praceeding is commen�ed that wou�d materiaily affect Lender's interest in
<br /> the Prap�rty ❑r if Trustor fails ta camply with any pro�isivn af this Deed af Trust or any f�elated D�cum�nts, including
<br /> �ut not �imited to Trust�r's failure ta comply with any ❑b#igation to maintaEn Existing Indebtedness in gaod standing as
<br /> required beiaw, or to discharge vr pay when due any amounts Trustvr is requ�red to discharge �r pay under this Deed of
<br /> Trust ❑r any Related Dacumen�s, Lender nn Trustor's behalf may �but shali n�t be ab�igated to� take any actian that
<br /> Lender deems apprapriate, includ�ng �ut not �imited to discharging ❑r paying all taxes, liens, security interests,
<br /> encumbrances and vther �laims, at any time le�ied ❑r placed on the Property and paying a1! costs �or insuring,
<br /> maintaining and preser�ing the Praperty. A�i such expenditures incurred or paid by Lender for such purpos�s will then
<br /> b�ar interest at the rat� charged und�r the No�e from the date incurred or paid by Lender t❑ the date of rep�yment hy
<br /> Trustor. All such expenses will hecome a part of the Indebtedness and, at Lender's option, will {Ay b� payable �n
<br /> demand; �B� be added ta the balance of �h� Nate and be apportivned among and b� payabFe wi�h any instaiiment
<br /> payments ta became du� during either ��y the term af any applicable insurance pnlicy; ar ��} the remaining term of
<br /> th� Nate; or �G� be treated as a ballofln payment which will be due and payab�e at the Nate's maturity. The ❑eed of
<br /> Trust also wiil se�ure payment af these amaunts. 5uch right shall b� in additian tv all other rights and remedies to
<br /> which Lender may be entitled upon ❑efault.
<br /> WARRANTY: DEFENSE�F TITLE. Th� fa�lawing pro�isions re�ating to ownership of the Property are a part of this Deed
<br /> vf Trust:
<br /> Title. Trustor warrants that: �a} Trustor hvlds go�d and marketable tit�e af record t❑ the Property in fee simple,
<br /> fr�� and clear of all liens and en�umbranGes other than those set forth in the Real Pr�perty description ar in the
<br /> Existing indebtedness section bel�w �� in any �itle insurance poiicy, title report, or �inal titfe opinion issued in fa�vr
<br /> of, and accepted by, Lender in c�nnectian with this Deed of Trust, and �b� T�ustar has the �ull �ight, power, and
<br /> autharity to execute and deli�er this Deed of Trust t� Lender.
<br /> ❑efense of T�tEe. 5ubject to the exception in the paragraph abo�e, Trustor warrants and will fore�er defend the
<br /> t�tie to the Praperty against the Iawful claims of all persans. In th� e�ent any actifln or pra�eeding is ��mmsn�ed
<br /> that �uestians Trustor's title ar th� interest of Trustee ar Lender under this Deed ❑f Trust, Trustor shall defend the
<br /> a�tion at Trustor's expense. Trustor may be the naminal party in suGh pr�ceeding, but Lender shali be entitled t❑
<br /> parti�ipate in the �roceeding and to be represented in �he proceeding by �ounsel of Lender's ❑wn choice, and
<br /> Trust�r will deli�er, or �ause to he deli�ered, t� Lender such inst�uments as Lend�r may request from time t❑ time
<br /> to permit such parti�ipativn.
<br /> Compliance With Laws. Trustar warrants that the Praperty and Trustar's use af the Praperty camplies with aIl
<br /> existing applicabie iaws, ordinan�es, and reguiations of go�ernmentai authvrities.
<br /> 5ur�iva! ❑f Representa#ions and Vllarranties. All representativns, warranties, and agreements made by Trustor in
<br /> this D�ed vf Trust shall sur�i�e the executivn and deli�ery ❑f this Deed af Trust, shali he cantinuing in nature, and
<br /> shal� remain in tul� �arce and effe�t until such t�me as Trustor's indebtedness shall be pa�d in full.
<br /> EICISTING INDEBTEDNESS. The following prv�isivns cflncernin� Existing �ndebtedness are a part af this Deed of Trus�:
<br /> Ex�sting Lfen. The lien af this Deed of Trust securing the Indebtedness may be secondary and inferior ta an
<br /> ex�sting lien, Trustar expressly �o�enants and agrees to pay, or see ta the payment of, the Existing Indebtedness
<br /> and to pre�ent any default an such indebtedness, any default under the snstruments evidencing su�h indebCedness,
<br /> �r any default under any security dacuments fvr such inde�tedness.
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