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DEED OF TRUST 2 Q i Q Q "~ 2 2 0
<br />Loan No: $1pp69 (Continued) Page 3
<br />under this Deed of Trust, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balance of the
<br />Indebtedness. IF Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as
<br />Trustor's interests may appear.
<br />Trustor's Report on Insurance. Upon request of Lender, however not more than once a year, Trustor shall furnish to Lender a report
<br />on each existing policy of insurance showing: 111 the Hama of the insurer; 121 the risks insured; (3) the amount of the policy; l4)
<br />the property insured, the Then current replacement value of such property, and the manner of determining thaC value; and (5) the
<br />expiration date of the policy. Trustor shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine
<br />the cash value replacement cost of the Property.
<br />LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if
<br />Trustor fails to comply with any provision of this Deed of Trust or any Related Documents, including but not limited to Trustor's failure to
<br />discharge or pay when due any amounts Trustor is required to discharge ar pay under this Deed of Trust or any Related Documents, Lender
<br />on Trustor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to
<br />discharging or paying all taxes, liens, security interests, encumbrances and other claims, at arty time levied or placed on the Property and
<br />paying all costs far insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender far such purposes
<br />will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Trustor. All
<br />such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the
<br />balance of the Note and be apportioned among and be payable with any installment payments to become due during either l1) the term of
<br />any applicable insurance policy; or 121 [he remaining term of the Note; or (C) be treated as a balloon payment which will be due and
<br />payable at the Note's maturity. The Deed of Trust also will secure payment of these amounts, Such right shall be in addition to all other
<br />rights and remedies to which Lender may be entitled upon Default.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust
<br />Title. Trustor warrants that: (al Trustor holds good and marketable title of record to the Property in fee simple, free and clear of all
<br />liens and encumbrances other than those set forth in the Real Property description or in any title insurance policy, title report, or final
<br />title opinion issued in favor of, and accepted by, Lender in connection with this Deed of Trust, and (b) Trustor has the full right,
<br />power, and authority to execute and deliver this Deed of Trust to Lender.
<br />Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the title to the Property
<br />against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the
<br />interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the action at Trustor's expense. Trustor may be the
<br />nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding
<br />by counsel of Lender's own choice, and Trustor will deliver, or cause to 6e delivered, to Lender such instruments as Lender may
<br />request from time to time to permit such participation,
<br />Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable
<br />laws, ordinances, and regulations of gavernmental authorities.
<br />Survival of Representations and Warranties. All representations, warranties, and agreements made 6y Trustor in this Deed of Trust
<br />shall survive the execution and delivery of this Deed of Trust, shall be continuing in nature, and shall remain in full force and effect
<br />until such time as Borrower's Indebtedness shall be paid in full.
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this heed of Trust:
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and Trustor shall promptly
<br />take such steps as may be necessary to defend the action and obtain the award, Trustor may be the nominal party in such
<br />proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own
<br />choice, and Trustor will deliver or cause to be delivered to Lender such instruments and darurrtentation as may be requested by
<br />Lender from time to time to permit such participation.
<br />Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding ar
<br />purchase in lieu of condemnation, Lender may at its election require that all or any portion of the net proceeds of the award be applied
<br />to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of
<br />all reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation,
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental
<br />taxes, fees and charges are a part of this Deed of Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addition to this Deed of Trust
<br />and take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Trustor shall
<br />reimburse Lender for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this ^eed
<br />of Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Dead of
<br />Trust.
<br />taxes. The following shall constitute taxes to which this section applies: 11- a specific tax upon this type of Deed of Trust or upon
<br />all or any part of the Indebtedness secured by this Deed of 'trust; 121 a specific tax on Borrower which Borrower is authorized or
<br />required to deduct from payments on the Indebtedness serurerl by this type of heed of Trust; 13- a tax on this type of Deed of l"rust
<br />chargeable against the Lender or the holder of the Note; and l4- a specific tax nn all or any portion of tfte Indebtedness or nn
<br />payments of principal and interest made by Borrower.
<br />Subsequent Taxes. If any tax to which this section applies is enacted suhsequent to the date of this Deed of Trust, this event shall
<br />have the same affect as an Event of Default, and Lender may exercise any or all of its availahle remedies for an Event of Default as
<br />provided below unless Trustor either (1) pays the tax k>efnre it becomes delinquent, or 12- contests the tax as provided above in the
<br />Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a
<br />part of this Deed of Trust:
<br />Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and
<br />Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time.
<br />Security Interest. Upon request by Lender, Trustor shall take whatever action is requested by Lender to perfect and continue Lender's
<br />security interest in the Rents and Personal Property. In addition to recording this Peed of Trust in the real property records, Lender
<br />may, at any time and without further authorization from Trustor, file executed counterparts, copies or reproductions of this Daad of
<br />Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or continuing this security
<br />interest. Upon default, Trustor shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall
<br />assemble any Personal Property not affixed to the Property in a manner and at a place reasonably convenient fo Trustor and Lender
<br />and make it available to Lender within tftree 131 days after receipt of written demand from Lender to the extent permitted by applicable
<br />law.
<br />Addresses. The mailing addresses of Trustor (debtor) and Lender Iser,ured party) from which information concerning the security
<br />interest granted by this Deed of Trust may be obtained leach as required by the Uniform Commercial Cade) are as stated on the first
<br />page of this Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY-IN-PACT. The following provisions relating to further assurances and attorney-in-fact are a part of
<br />this Deed of Trust:
<br />Further Assurances. At any time, and from time to time, upan request of Lender, Trustor will make, execute and deliver, or will cause
<br />to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded,
<br />refiled, or rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and all
<br />such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of
<br />furtfter assurance, certificates, artd other documents as may, in the sole apiniort of Lender, be necessary or desirable in order to
<br />effectuate, complete, perfect, continue, or preserve 11- Borrower's and Trustor's obligations under the Note, this Deed of Trust, and
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