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2� 17�2793
<br /> �EE� �F T�u��r
<br /> Loan No: 'Ia'13[�4535 ��o�ltirlu�d} Page 4
<br /> s�curi�y �s irnpaired, Lender may, a� L�nder's e�ection, recei�e and retain �he proceeds of any insuranc� and apply
<br /> the proce�ds ta the reduc�rE�n ❑�F the �nd�btedness, payment ❑f any lien a�fecting the Property, or the restoration
<br /> and repair ❑f the Property. [f Lender elects t� apply �he proceeds �a res�oratinn and repair, Trustar shal� repair ❑r
<br /> r�place the damaged or d�s�rayed Impro�ements in a manner satisfactory t� Lender, Lender shall, upan
<br /> satisfa�tory praof ❑f such expenditure, pay or reimburs� Trustar fram �he pr�ceeds for the reasanable cost of
<br /> r�paEr or rest�ration if Trus�or is nat in defauit under this ueed ofi I rust. �ny pra�eeds wni�h havs not ���n
<br /> disbursed within 18a days af�er their rec�ipt and vuhich Lender has na� committed ta the �epair ❑r restnratian �f
<br /> the Property shall be used first�❑ pay any amount owing t� L�nder und�r this a�ed af T�ust, then to pay accrued
<br /> int�rest, and the remaind�r, if any, shall be applied t❑ the principa� �alance o� �he Indebtedness. If Lender h�lds
<br /> any proceeds after payment in full af the indeb�edness, such proceeds sha�l be paid ta Trustvr as Trustcrr's
<br /> inter�sts may appear.
<br /> Camp[iance with Existing Indehtedness. During the period in which any Existin� Indeb�edness desc�ib�d below is
<br /> in effi�ct, compliance with the insurance proWisions �antained in �he instrument e�idencing su�h Exis�ing
<br /> �nde�tedness shall constitute compliance with the insuran�e provisians under this Deed ❑f Trust, ta �he extent
<br /> campliance with the terms o�F �his Deed of Trust woufd cons�itute a duplica�ian �f insurance r�quirement. If any
<br /> pro�eeds fram th� insuran�e become payable on �oss, �he prv�isi�ns in this Deed of Trust far di�isian af proc�eds
<br /> shall apply anly t❑that portivn of the pro��eds not payable to the halder of�he Existing Indebt�dness.
<br /> Trustor's Rep�r� on Irtsuran�e. Upan reques� of L�nder, howe�er n�t more �han ❑nce a year, Trustar shall furnish
<br /> ta Lend�r a repor� on eac� exis�ing policy vf insuran�e sh�vving: �1 y the name af the insurer; ��y the risks
<br /> insured; {3} the am�unt of the palicy, �4� �he property �nsured, the then Curr�n� replacement Wa1ue �f such
<br /> pr�per�y, and the manner❑f determining�hat�alue; and �5� th� expirati�n date c�f the palicy. Trustor shall, upon
<br /> request af Lendar, haWe an independen�appraiser sa�isfactory�o Lendsr d�termine the cash Walue replacemen#cas�
<br /> o��he Property.
<br /> LEIVDER'S E�CPENDiTURES. i� any action ❑r proceeding is commenced that would materialfy aff��t Lender's interes� in
<br /> the Property or if Yrustar fai[s to comply with any pr�visi�n a�fihis Deed af Trust ar any Rela�ed Dacuments, including
<br /> but not fimited to Trust�r's failure to camply with any ❑bligatian to maintain Existing Ind�b�edness in goad standing as
<br /> required �elow, ❑r tti d�s�harge ❑r pay when due any amaun�s Trustar is required ta dtscharge or�ay under this Deed of
<br /> Trust ❑r any Related ❑ocumen�s, L�nder on Trustor's behalf may �but shall not be t�bligat�d to� taks any acti�n �hat
<br /> Lender d�ems appr�priate, including but nat limited to discha�ging or paying all taxes, liens, secu�ity interes�ts,
<br /> encumbrances and t�ther claims, a� any time le�ied or placed �n the Property and p�ying all casts for insuring,
<br /> maintainin� and preser�ing the Praperty. All such expendi�ures incurred ❑r paid by Lender for such purposes wiil then
<br /> bear int�rest at the rate charged under the Note from the da�ke in�urred ar paid by Lender �a the date ❑f repaymen� by
<br /> Trus�tar. All such expenses wi�l became a part of the indebtedn�ss and, at L�nder's �pt�on, wifl tA� be payabie �r�
<br /> demand; {B} b� added to �he balance af the Nate and b� app�rtioned amang and be payahl� with any instalimen�
<br /> payments to be�ame due durin� either {1 y the term ❑� any applicable insurance policy; ar {�� �the remaining term ❑f
<br /> th� No�e; ❑r �Cy be treated as a bailoan payment which wil� be due and payabl� at the Na�e's m��urity. The Deed ❑f
<br /> Trust alsa wil� secure payment �f these amoun�s. Such right shall be in addition ta a11 ather righfis and remedies ta
<br /> which Lender may b�entitled upan Default.
<br /> VIIARRANTY; DEFENSE�F TITLE. The �oil�wing pra�isians relating to ownership af�he Prvperty are a part of this Deed
<br /> af Trus�;
<br /> T�tle. Trustor warrants that: �a� Trustor ho�ds goad and marketable �itle af record t❑ the Praperty in fee simple,
<br /> free and clear of all liens and encumbrances o�her than those set forth �n the Real Praperty descriptEon or in the
<br /> Exis�ing Ind���edn�ss se��ion belvw ❑r in any title insuranc� palicy, title repor�, �r�inal ti�l� opinion issued in fa�ar
<br /> of, and a��epted by, Lender in connection w�th �his Deed �f Trus�, and {b} Trustor has the �u�l righ�, paw�r, and
<br /> authority ta execute and def�ver this Deed of Trust to Lender.
<br /> De�ense of Title. 5uhjec� t❑ �he exCeption in �h� paragraph abo��, Trus�tar warrants and wiEl foreWer defend the
<br /> title t� the Property against th� law�ul claims vf ail person�. �n the e�ent any actian ar proceeding is cammenced
<br /> that questions Trustor's �i�le vr the in�erest of Trustee or Lender under this Deed ❑f Trust, Trustor shall defend the
<br /> acti�n at Trus�ar's �xpense, Trus�or may be the nominal party in suCh pro�eeding, but Lender shall be entitled t�
<br /> participate �n �h� pro�eeding and t❑ be represented in the proceeding by counsel af Lender'� ov�rn �haice, and
<br /> Trus�ar wi�l deliv�r, �r caus� to be defiW�red, to L�nder such ins�ruments �s Lender may reques� �rom t�me �o time
<br /> to permit such participa�tion.
<br /> Gompliance V11ith Laws. Trus�or warrants tha� the Praper�y and Trustor's us� of the Pr�perty complies with al!
<br /> existing appEicable laws, ordinances, and regulations of governmental authorities.
<br /> Survi�al of Represen#ations ant� Vllarranties, All representations, warranties, an� agreemen�s made f�y Trustor in
<br /> this Deed of Trust shall sur�iv�the execution and d�li�ery of�his ❑��d o�F Trust, shaEl be �ontinu�ng in n�ture, and
<br /> shall remain in full force and eff�ct until such time as Trustor's Indebtedness shali be paid in fulf.
<br /> EXISTING INDEBTE�NESS. The following pro�isiflns concerning Exis�ting Indebtedn�ss are a part of this Deed af Trus�t:
<br /> Existing Lien. The li�n ❑f �this D�ed �� Trus� secur�ng the Indebtedness may be secandary and infer�or �a an
<br /> exisfiing lien. Trustor expressly cavenants and agrees t❑ pay, �r s�e to the payment of, �he Existing Indebtedness
<br /> and to pre�ent any de�Fault❑n such indebt�dness, any default under the instruments e�idencing such ind�hfiedness,
<br /> ar any default under any security dacuments far such indeb�edness.
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