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2� 1 7�2 7�2 DEE❑ �F TRUST Loan Noo '1�'13�4�'i� t�antinued� Pag� 4 the proceeds to the reduction of the Indebtedness, paym�n� af any lien affecting the Property, or the restoration and repair af the Property. It Lender elects ta appiy the praceeds to restoratian and repair, Trustor shall repair ❑r r�place the damaged or destray�d Impra�ements in a manner satis�actary t❑ Lender. Lend�r shalf, upon satisfactory proaf of su�h expendi�ure, pay ❑r reimk�urse Trustor from the praceeds fvr th� reas�nabfe cast n� repair or restoratian if Trustar is not �n de�ault under this Deed of Trust. Any proceeds which ha�e nvt been disbursed within 18� days after their re�efpt and which L�nder has not c�mmitted t❑ the repair �r restoration of the Pr�perty shall be used first to pay any amount ❑wing to L�nder under this Deed �f Trust, then t❑ pay accrued interest, and the remainder, if any, shall be applied to the principal balance af the Ind�btedness. If Lend�r halds any praceeds after payment in full o� the Rndebtedn�ss, such proceeds shal� be paid ta Trust�r as Trustvr's interes�s may appear. Compliance with Existing Indebtedness. During the periad in which any Existing Indebtedness descrihed below is in effect, compliance with the insurance pra�isions cantained in the instrument e�idencing such Existing lndebtedness shall �onstitute complianc� with the insurance pro�isions under this Deed vf Trust, t❑ th� �xtent compliance with the terms of this Deed ❑f Trust wauld canstitute a duplication �t insurance requirement. If any pro�eeds fram th� insurance become payable ❑n ioss, the pra�isians in this Deed of Trust for di�ision of praceeds shall apply only t� that portian af the proceeds not payabfe ta the h�ld�r❑f the Existing f ndebtedness. Trustor's Report on Insurance. L1pan request ❑f Lender, howe�er not more than once a year, Trustor shall furnish t� Lender a report on each existing policy of insurance sh�wing: t1� the name ❑f the insurer; �2y the risks insured; �3y the amount of �he palicy; t47 the property insured, the then current repfa�ement �alue ❑f such property, and the manner af de�ermining that �alue; and t5} the �xpira#ion date nf the pol�cy. Trustar 5hall, upan requ�st of Lender, ha�e an independent appraiser satis�actory to Lender determ�ne the cash �aEue replacement �ost vf th� Pr�perty. LEfVDER'S ExPENDiTURES. I� any action or prviceeding is cvmmenced that would materia�ly affect Lender's interest in the Property ar if Trustor fails t❑ comply with any pro�Esion of this Deed at Trust or any Reiafied Dncuments, inc�uding but not limited t❑ Trustar's faiiure to Gomply with any ❑bligation �a maintain Existing Indebtedness in goad standing as required belaw, or to discharge or pay when due any amounts Trustar is required to dis�harge or pay under this Deed ❑t Trust or any Reiate� Documents, Lender ❑n Trustor's behaff may ��ut shail not be ❑bligated to� tak� any action that Lend�r deems appropriate, including but not iimited tv �lischarging or paying all tax�s, iiens, security inte�'ests, encumbrances and ❑ther cfaims, at any time le�ied �r placed on the Praperty and paying all casts for insu�ing, maintaining and preser�ing the Praperty. Ali such expenditures incurred or paid by Lender far su�h purposes will then bear interest at the rate charged under th� Nate frvm the date incurred or paid by Lender to the date af repayment by Trustor. A!I such �xp�nses wili became a part of the Ind�btedness and, at L�nder's ❑ption, will {A} be paya�l� ❑n demand; �B� be added to the balance ot the Note and �e appartioned among and b� payable with any i�nstailment payments to become due during either (1� the term of any applicahle insurance policy, ❑r {�� the remaining term of the N�te; or {C� be treated as a bafloan payment which wilf be due and payable at the Note's maturi�y. The ❑eed �f Trust also will secure paymen� at thes� amounts. Su�h right shal[ be in addition t❑ all other rights and remedies ta wh+�h Lender may be entitled upon Default. VIIARRANTY: DEFENSE DF TITLE. The following pro�isions relating to ownership❑f the Property are a parti o�this Deed o�Trust: Title. Trustar warrants that: {a� Trustor halds g�od and marketable title ❑# r�cord to the Praperty in �ee simple, free and �fear of a�l liens and en�umbrances other �han those set for�h in the Rea� Property desGriptiar� ar in the Existin� In�iebtedness sec�ion be4ow or in any title insurance posicy, titie repart, �r finas �title opinion issued in fa�ar of, and a��epted by, Lender in connectian with this Deed of Trust, ar�d �b} Trustor has the full right, p�wer, and authority t❑ exe�ute and defi�er this ❑eed of Trust to Lender. Defense of Title. Subject �a the exception in the paragraph aba��, Trustor warrants and will fore�er de�end the titfe t❑ th� Property aga�nst the lawful claims ❑f a!I persons. In �he e�ent any actian or proceeding �s �ommen�ed that questians Trustor's title or the interest ❑f Tru$tee ❑r Lender under this Deed af Trust, Trustar shall detend the actian at Trustor's expense. Trustar may be the naminal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by �ounsel of Lender's own �hoice, and T�ustor will deli��r, ar cause t❑ be deli�er�d, to Lender such instruments as Lender may request from time to time to permit such participation. Compliance 1Nith Laws. Trustar warrants that the Property and Trustor's use o� the Property complies with all �xisting applicabfe Iaws, �rdinan�es, and regulations o� gv�ernmental autharities. Sur��a� o� Representations and Vllarranties. All representativns, wa�ranties, and agreements mad� �y Trustor in this �eed of Trust shall sur�i�e the execution and delivery o�this Deed ot Trust, shall be continuing in n�ture, and shall remain in full forc� and ef�ect until such time as Trustar's Indebtedness sha�l be paid in full. E�CISTIN� INDEBTEDNESS. The following pra�isions concerning Existing Indebtedness are a part of this Deed �t Trust: Existing Lien. The lien of this Deed ot Trust securing the Inde�tedness may be secondary and inferior to an existing lien. 7'rust�r expressly co�enants and agrees to pay, ❑r see to the payment of, the Existing Indebtedness and t� pre�ent any de�autt on such indebtedness, any default under the instruments e�idencing such indei�tedness, ❑r any defaul� under any security dacuments for such inde�tedn�ss.