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<br /> o1—�a—�999 (}� DEED OF 7RUST �� Page 4 ' .
<br /> Loan No 762655 - (� -����g (Contlnuedj -
<br /> damaged or destroyed Improvements ln a man�er salisfactory to Lender. LenJer shaH, upon satisfactory praof oi su.h expenditure, pay or
<br /> reimburso 7rustor hom Ihs proceeds for the reasonable cost of repalr or restoration it Tr�stor is not ln detault under this Deod ot Trust. Any
<br /> proceads wh'sch have not been�sbursed wiihin 160 days af1�x thelr receipt and whiCh Lerder has not committed to the repair or resloration ot
<br /> the Property shali be used first to pay any amount owing to Lender under this Deed o1 Trust,ther,to pay accrued interest,and the remainder,ii •
<br /> any,shail be appl'�ed 10 the principaS balance of the Indebtedness. if Lender hoids any proceeds efter payment in full of ihe Indebtednoss,such
<br /> proceads shalt be paid to Trustor as Trustors InteresLS may appear. �
<br /> Unexpired Ins��rance at Sale. Any unexpired insurance shali inure to the benefi!of,and pess to,Ihe purchaser of the Properly covered by this
<br /> Deed ot Trust at any trttstee's sale w other sale held under the provisions of this Deed of Trust,or at any foraciosure sale o!such Property.
<br /> TAX AND INSUR/lNCE RESERYES. Subject to any limite6ons sat by eppiicabie law,Lendor may require Trustor lo mainlain wilh Lender reserves
<br /> for payment o1 annuai taxes,essessments,and insurance premiurr,s,wh!ch reserves shall be created by edvancs oaymenl or monthly paymenls of a
<br /> sum estimated by Le�der to be sufficient to produce amounis at least eq.iai to lhe taxes,assessments,and insuranc`�prami�ms to be paid. 7he
<br /> reserve iunds shall be held by Len�er as a general deposft hom Trvsta,which Lender may satis(y by paymeni of ttuj taxes, e55essmenLs,and
<br /> insuranc�premiums reauired to be paid hy Trustor as they become due. Lender shafl heve the right to draw upen the reserve funds to pey such
<br /> items,and Lendar 5hati not be required to determ?ne the vaii6ity or accur&cy ot any item betore paying it. Nolhing in!he Deed ot Trust shall be
<br /> ccnstruad as•e 'rino. •nder to advance othe::n�nles!or such purposes,and Lender si�aR nct incur any liability tor anything it may do or omit to
<br /> do with resF&:�o tne;a�ve account. Subjec4 to any Iim�stion;set by a�p'icahle:?w•,if the raserve tunds discfose a Shortage or defic;ency,Trustor
<br /> shalt pay s�ch sho.��o cr deAciency as required b�r �ercdar. Ai! ?r�o�.�nts in the r�servr acco�s;�'. sre hereby pledged to further secure the
<br /> Indebtedness, and!ender is hereby avthorized to !�� �,drew er,�i a..n,y sucn qmounts �n ihe ind2b���'nass upon the occurrence ot an Event ot �
<br /> Detauit. Lender shail not be required to pay any intsr�;t or g=mi�. .on lhe rese�vs funds onless required by�aw or agreed to by Lender in writing.
<br /> Lender does not hold the reserve fur�ds fn trust tw Trustor,and l.ender ts,;:t Tru;iors eaent icr pa}men9 of the taues and assassmanls required to
<br /> be paid by Trustor. ' `
<br /> DCPEti�ITURES BY LENDER. if Trustor faiis to comply wiih any provision ef this Deed ot Trust,ot ii any action or proceeding is commenCed Ihet
<br /> wou!d materiaily aftect Lender's in'eresls in the Property,Lender on Trusio!'s behaif may,but shalt nol bs rsquired to,take any aclion that Lender
<br /> denms appropriate. Any amount thal Lender expends In so doing wip bear inlarest at the rale provided for in the Nole from ihe date incurred or paid
<br /> by ler,der to the date of repaymerst by Trusior. Afl such exp�nses,at lendsr's op:fon,will (e)ba peyable on demand, (b)be added to the balance
<br /> of tha Note and be epportioned amor,g and be payabie with any Snstallment p8yments to become due during ei;her (i)the!erm of eny eppticable
<br /> insurance pelicy or {ii)the remaining term at the Note,or (c)be Ueeted ns a balloon paymen!which will be due and payable at the Nole's:naturity.
<br /> This Deed of Trust eiso will secur9 paymenl o(lhese amounts. ThE�rights provided tor irs this paregraph shall be in addilion to any oiher righis or eny
<br /> ramedies to which Lendsr may be entilled on account ot lhe detault. Any such action by Lendsr shall not be construed as curing tho deleuli so as to
<br /> bar Lender hom any remedy that it otherwise wo�id have had.
<br /> WAARANTY;DEFENSE QF TITLE. The foliowing provisions relaling to ownership of Ihe Property are a pari ot this Deed of Trust.
<br /> Title. lrustor weRanls fhat: (a)Trusfor hofds gootl and markeiab!e fiilo oi record to tho Property in tee simple,(ree and clear ot all liens and
<br /> ancumbrances oiher than;hose set torfh in ihe Real Property desr,ription or fn any title insurance policy,title report,or final tille opinion issued in
<br /> favor o',and accepted by,Lender in connection with this Deeci of Trust,and (b)7rustor ha�ihe fuli rlght,power,and authority to execute and
<br /> delivcr lhis Deed of Trust ta Lenda.�.
<br /> Defense of Titie. SubJect to tha exceptton in fhe paragraph above,Trusior warranls and wiil torever defend the iitle to ihe Property agai�st ihe
<br /> lawful r,laims ot ap persons. In 4he event any action or proceeding is commo�ced ihat quest�ons Truslor's tille or lhe interest of Tr�st�e or
<br /> Lender under this Deed of Trust,Trustor shall detend lhe action af Trustor's expense. Trustor may be the nominal party In such proceeding,but
<br /> Lender shal! be entitled to pa�ticipate in tho proceeding and to bs raprssented in ihe proceeding by caunsei of Lender's own choice, and
<br /> Trustor wiil deiiver,or cause to be delivered,io Lender such irutruments as Lender may request trom time to time to permit such peii�cipation.
<br /> Compllanct Wilh Laws. Trustor warrants that the Property anc' Trustor's use ot the Properiy cumpl�ss wi!h 9!! existing appllcable laws,
<br /> ordinances,end regulations of governmental authorities.
<br /> CCSNDEMNATION. The foilowing provisions relaling to condemnat(on proceedings are a pa�of this Deed of Trust.
<br /> Applicatlon of ket Proceeds. If ail or any par of fhe Property is condemnad by emir�ent domain proceedings or by any proceeding or
<br /> purchase in Ileu ot condemnation,Lende;may al its election require Ihai all or any portion o(the net proceeds of the award ba applied lo the
<br /> Indebtedness or the repair or resloralion of the Prrperty. The ne!proceeds of the award shall mean the award after payment ot all reasonabls
<br /> costs,expenses,and attorneys'fses incurced by Trustee or Lender in connectior with the condemnatlon.
<br /> Proceedings. If any proceeding in condemnation is filed,Trustor shall promptiy notity Lender in wril:rtg,and Truslor shali promptly lake such
<br /> steps as may be nECOSSary to delend the aclion ar.d oblain lhe award. Truslor may be the nominai party in such p:uceediny,�ul Lender shalt
<br /> be entilied io participate in the proceeding and to be represented in Ihe proceeGing by counsel of its own choice,and Trusior wili detiver or
<br /> cause io be delivered lo lender such instrumer.ts as may be rsquested by it from time fo time lo pennit such participation.
<br /> IMPOSITION OF TAXES,FEES AND CHARGES SY C��IERNMENTAL AUTIiORITIES. The following provisiAns relaNng to governmenlal taxes,
<br /> lees and charges are a part of th;s Deed o:Trusi:
<br /> Current Taces,Fees and Charges. Upon reGuest by Lsnder,Trustor shali execute such documenls in ad�ition to thrs Deed ol Trust and ta�e
<br /> whatever other ac!ion is requesled by Lender to perfect and continue Lenders lien on the Real Property. Trustor shall reimburse Lenden tor ail
<br /> Icaces, as described below, logether with all expenses incurred in recording, perfecling e�continuing lhis Deed of Trusl, Including wilFrout
<br /> Iimitation all taxes,tees,documenlary stamps,end other charge�tor recording or registE Ing tlds Deed of Trusl. `�
<br /> Taues. The Oollowing shaH constitule taxes to which this seciion applies: (a)a specific tax upon this type a:Deed ot Trusl_or upon all or any
<br /> pa�t of Ihe Indebtedness sec�red by this Deed oF Trust; (b)a specific lax on Trusior which Trustor is au:horized or requfrad to deduct lrom
<br /> psyments on ihe�ndebtedness secured by this type of Deed af Trush (c}a tax on ihis type ot Deed of Trust chargeable sgainst ihe Lende�or
<br /> the hofder of the Nofe; and (d) a speciflc tax on atl w any po�tfon of the I�debtedness or on payments af principal and in!erest made by
<br /> TfUSIOL
<br /> Subsequent Taxes. if flny tax to which this section appl;es is enacted subsequeni lo the dale of lhis Oesd of Trust,ihis event shail have Ihe
<br /> same eHect as an Event of Detault(as dei�ned below),and Lender may exercise eny or ali of ils available remedies 1or an Event of Dolaull as
<br /> provided below uniess�rustor either (a)pays ihe tax betore it becomes dellnquent,or (b)contasts tha tax a5 provided above in the Taxes and
<br /> Usns saction and deposit,with Lend�r cash or a sufficient corporate sure�y bond w other security stslisfactory lo Lender.
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