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2� 17�2�9�
<br /> DEED �F T�UST
<br /> Loan No: 'I�7 3U383� �Continu�d� Page 4
<br /> replac� the damaged or des�royed Impro�ements in a manner satisfactory to Lender. Lender shall, upon
<br /> satisfactory praof �f su�h expenditure, pay or reimburse Trus�ar from the prviceeds fvr the reasonahle cast o#
<br /> repair or restorati�n if Trustor is nat in default under this Deed of Trust. Any proceeds which ha�e not been
<br /> disbursed within �SD days after their re�eipt and wh�ch Lender has not cammitted to the repair or restarat�on of
<br /> the Praperty shall be us�d first ta pay any amount owing ta Lend�r under this Deed af Trust, then to pay accrued
<br /> interest, and the remainder, if any, shall be applied t� the principai balance of the Inde�tedness. If Lend�r holds
<br /> any pracesds after payment in fu�l of the Indebtedness, SUCh proceeds shall he paid ta Trustar as Trustor's
<br /> interests may appear.
<br /> Trustor's Report on �nsurence. Upan request ❑f Lender, howe�er not m�re than once a year, Trustor shal� furnish
<br /> to Lender a r�part on each existing palicy o� insurance showing: ��� the name o� the insurer; �2y the risks
<br /> insured; �3} the amaunt of the palicy; �4� the praperty insured, the then current replacement �alue o� such
<br /> pr�perty, and the manner of d�t�rmining that�a�ue; and {5� th� expiratian date of the policy. Tru�tar shall, upon
<br /> request of L�nd�r, ha�e an independ�nt appraiser satistactary ta Le�der determine the cash �alue replaGement cast
<br /> of the Property.
<br /> LENDER'S EXPENDITURES. lf any action or proceeding is commenced that wauld ma�erially affect Lender's interest in
<br /> the Property or if Trustor fails to comply with any pro�isian �f this Deed af Trust or any Related Do�uments, �ncluding
<br /> but not I�mited to Trustor`s failure to dis�harge vr pay when due any amounts Trustor is required to discharg� or pay
<br /> under this Deed vf Trust❑r any Related Documents, Lender on Trustar's behalf may �but shail not be ob�igat�d to} take
<br /> any action that Lend�r deems appr�priat�, incfud�ng but nvt limited t� discharging ❑r paying al� taxes, liens, security
<br /> interests, encum�rances and ather e�aims, at any time Fe�ied ar placed �r1 the Property and paying all costs f�r insuring,
<br /> maintaining and preser�ing the Praperty. All such expendi�ures in�urred �r pa�d by Lender for such purpose� will then
<br /> bear interest at the rate �harged under the Note �rvm the date 'sncurred or paid by Ler�der to the date of repayment by
<br /> Trustor. All such exp�nses will became a part vf the Indebtedness and, at Lender's ❑ption, will �Ay be payabfe on
<br /> d�mand; �B} be added t❑ the balance af the Note and t�e apportivned amang and be payable with any insta�lment
<br /> payments to become due during either {17 the term o� any applicable insurance policy; or ��y the remaining term of
<br /> the Note; or �C� be treated as a balloan payment which wi�l he due and payable at the Note's maturity. The �eed of
<br /> Trust aiso will secure payment af thes� amounts. 5uch right shalC be in additian ta all other rights and remedies t❑
<br /> which Lender may b��ntitled upan De�au�t.
<br /> WARRANTY; �EFENSE�F TSTLE. The follvwing pro�isions relating t❑ o►rvnership of the Prap��ty are a part of this �eed
<br /> ❑f Trust:
<br /> TitEe. Trustor warrants that: �a� Trusfior holds good and marketable t�tle ❑f recard to the Pr�perty in f�e simple,
<br /> fres and clear �fi ati liens and encumbrances other than those set forth in the Reai Proper�y description ar in any
<br /> title insuranc� policy, tit�e repvrt, ar �inal title apinion issued in fa�or of, and accepted by, Lender �n cvnnectivn
<br /> with #his Qeed of Trust, and �b� Trustor has the full right, powerr and authvrity to exe�ute and deli�er this Deed of
<br /> Trust to L�nd�r.
<br /> Defense of Title. Sub�ect to the exception in the paragraph abv��, Tt�ustor warrants and will fore�er defend the
<br /> tit�e to the Praperty against the �awful claims of all persons. In the e�ent any a�tion ar praceeding is commenced
<br /> that questians Trustor's t€tle �r the interest vf Trustee vr Lender under this Deed nf Trust, Trustar shail defend the
<br /> action at Trustor's expense. Trustar may be the nvminal party in such proceeding, but Lender shall be entitied tv
<br /> participat� in the praceeding and tv �e repr�sented in the proceeding by counsei of Lender's �wn chaice, and
<br /> Trustor wi�l del#�er, ❑r cause ta he deli�er�d, t❑ Lender suct� instruments as Lender may request from time t❑ time
<br /> ta permft su�h participation.
<br /> Camplian�e 111iith Laws. Trustor warrants that th� Property and Trustor's use of the Property cvmpiies with all
<br /> existing applicable laws, ard�nances, and regulations af gv�ernm�ntal autharities.
<br /> Sur�i�al of Representati�ns and Warranties. All representations, warranties, and agreements made by Trust�r in
<br /> this ❑eed of Trus� shall sur�i�� the execution and deli�ery af th�s D�ed ❑f Trust, shali be cantinuing in nature, and
<br /> shall rema�n �n full force and ef�ect until such tim� as Trust�r's Indehtedness shall be paid in full.
<br /> C�NDEMNAT��N, The fo�Iowing pro�isions relating t❑ condemnation proceedings are a part❑f this Deed ❑f Trust:
<br /> Praceed�ngs. If any proceeding in cvndemnation is �i�ed, Trustor shalf pramptly notify Lender in writing, and
<br /> Trustar shali promptly take such st�ps as may be necessary to defend the action and abtain the award. Trustor
<br /> may he the n�minal party in such proceeding, bu� Lender shal� be entitled to partic�pate in the pro�eeding and to be
<br /> repr�sented in the proc�ed�ng by �ounsel vf its own cl�oi�e, and Trustor will deli�er or cause to be de�i�ered �o
<br /> Lender such instruments and da�umentation as may �e �equest�d hy Ler�der from time to time tv permit su�h
<br /> participation.
<br /> Appiication of Net Proceeds. If ali or any part af the Praperty is cond�mned by eminent domain proceedings vr by
<br /> any pro�eeding Qr purchase in lieu of cond�mnatian, Lender may at its election requi�e that a41 vr any porti�n of the
<br /> net prv�eeds of the award be appiied t❑ the Indebtedness or the repair ❑r restoration af the Property. The net
<br /> proceeds ❑f the award shall mean the award afrer payment vf all reas�nable cvsts, expenses, and attarneys' fees
<br /> incurred by Trustee ar Lender in connection with the �ondemnation.
<br /> IMP[]SITI�N �F TAXES, FEES AND CHARGES 6Y G�VERNIViENTAL ALJTW�RITIES. The tollowing pro�isions relating
<br /> to gv�ernmen�ai taxes, fees and charges are a part❑f this Desd of Trust:
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