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os-2a-��s5 D�ED OF TRl1ST • �s9e 3
<br /> �oen Na 146� (�orrttnued) g6� ��Jr���
<br /> ''sen, cr if requasted by Lendsr, depasft with Lend�x cash or a sutfi�;ient c[rp�+ate surety bond ar o4her s9curity satisfaciory to l.ender in an
<br /> �meunt sufficient to discharge ihe lien plus any cos�or ather charges that coutd accn.�e as s resuN ot a tor�eelosure or sate�nder the Nen. In
<br /> any con?est,7rustor shail defend tiseif and Lender �n� shalt s�Hsfy any ad.^�xse Itadgment t�etore entorcement agalnst the Prpperty. Trustor '
<br /> shalf nAme Lender as an additional pb(iga�under any surety bohd furnished in tFa�contest proceadir�s.
<br /> Evldence ot Payment. Trus4or shaf! upan da:nand furnish tp Lender sat�ttactdy evlCenCe ot paym9nt 41!he taxeS or asse55ment5 8nd Sh811
<br /> au4har�ze� tha appropriats gavernmental offictal to deliver to Lendsr at any time a written statement oi the iaxes and assessmenls againSt the
<br /> Proqerty.
<br /> Notice o(CpnsEructlon. Trustor shall nnfity Lendsr nt least fifteen{15)days taefcre a:?y work fs cnmmenced,any services are furnished,a�a�iy
<br /> materials are suppiled to the r roperfy, if any mechanM's lien, matarialman's !ien, or other lien couid be ass9�rted on eccount ot the woric,
<br /> services,ar rc�ata�rriats. Trustnr wilt upon request af Lend�r tumish to!endar sdvancs assuranoas satlsiactory to Lantf�r that Trustor can end will
<br /> pay the cest of such impruvemqnts.
<br /> P�OPERTY p�Md�GE INSURAWC�. The fdlowir�pro�slons relating!o Insuring the I'rqper!y are d part af thfs(�ad ci Trusl.
<br /> Malnten�nce oP tnsursrsce. Trustor shalf proc:[r�and mguntain policies ot flre insurance wlth stendard extended covarage endorsements on e
<br /> r�placement basis for the futl Insurabb value covering ap Improvemenl�on the Real Proparty!n an amount sufNclent ta avoid appliCatlon`ot nny
<br /> co;nsurance cla��se,and with a ster.r..°rd mortg�ge�Ciause in favor ot Lender. Trustor shaA also procure end malntain cpmprehansive general
<br /> iiabl5'ry Insurance In such cpv�rpg�ampunts as Lender may request with huStee pnd Lqnd9r be(ng r�smgd s5 adcfHiona!Insureds In such liabl!Hy
<br /> Insurance poilcies. Add�Nonally, TruStor shan mafntain such other lnsuranca, Including but nqt IiMtsd to hazard, btlsinass InterrupHon, snd
<br /> boller fnsuranc�,as Lendor m�y reasonably rsquire. !'olk,aes shalt be written in torm,amaUnts,coverages�nd basls reasonsbly ecceptabl�to
<br /> Lender and Issued by e eompany or compan!es reasonably accap�abl�to Lender. Tru;tor,upan req:iest of Lender,wl!I deiiver to Lender hom
<br /> tima io Hme the poikles a certiiicates ct Insurar.c9 In torm saNsfactory to L�nder,Inciuding srpulatlons that coverages w(tl r:ot be cance�led or
<br /> diminished withoi�t at teast ten(1U)days'prior wrltten no�ce tc�Lender. Esch fnsurance poiicy alsa shalt include an endarsament provld(ng that
<br /> covarage in favor of Lender wilt not be Impalred In 4ny way by any ect, omNsslnn or datauit of 7'rustar dr any other person. Should the Resl
<br /> Prop�rty at any time b�c�me located In an araa designated by the pir�ctor of the Federal Emarger.cy M�nagement Agency as a spacial Rc�od
<br /> haz�rd area, 7rustor ngrva5 to pbtr�in and medntaln Fedetal Flood Insur�nce !o the extent such Insurance �S required by Lender and is a
<br /> becomes available, ior the terrn ot lhe loan and idr tha 4u11 unpald principal balance af the loen, w fha ma�dmum Iimit ot coo�ge that fs
<br /> availabie,whiChever i�less.
<br /> kppilcatlon pf Procecds. Trustor shall promptly noE.'y Len��r of any loss or damage to tha Prqperty. L�nder may make proof of toss if Trustor
<br /> tail;to do so wiihln fi�teen(15)day5 oi tha casusliy. Whether or not Lender's sacurity is 1mpAired:Lender may,at its eiection,receive and r�taln
<br /> tha prpcsads of any)rtsurena3 and apply the prpcae�s ta the reductton of the Ind�sh�tedness,payment ot any lien�}facting the Prpperty,pr tha
<br /> restorati�n end repair af the Praper:y. if Lender elects to a.pply the pros�eds to restoration and repalr, 7rustor shall repair or replace !he
<br /> damaged or destroyed Improvements fr, a manner satisfactpry ta Lsnder. l.ende�shail, upon salIsfactory prqai oi such exponditure, pay or
<br /> raimburse'rrustor hom tha procesds(pr the reasonable aost ot r�pair Or restpr�tlon i'Trustor is not in default under thts Deed af Trust. Any
<br /> proceeds���hlch have not been disb�rsed within 18p days aRar their recefpt and which Lender ha5 not committed 4o the rspair or restoration o1
<br /> tha Prope:ty shali be used flrst ta pay any amount owir,g to Lender under thfs Deod oi Trust,then tv pay accrued Interest,and the remainder,it
<br /> any,shxi!:;�nppUed to thr3 prindpal balanc� �f the Indebt�aciness. If 4ender ttoitfs any pracaeds aRer payment In full of the Indebted�ass,such
<br /> procends shall be pafd to Trustor as Trusta.'s interests may appear.
<br /> Unexpired insurance a1 Sale. Ary unexpfred insurance shall Inure to the benefit oi,and pass tv,th�purchaser o�the property covered by thts
<br /> o9e�af 7rust st any trustee's sale or other sate held under the prpvislbns of this�eed of Trust,a at any foreclosurg safa of such PropArty.
<br /> Frustor'�Ficport on insurttnca. Upon rsquest ot Lender,howevar not more than once a year,Tru5tar sha!I fumish to Lender a report on each
<br /> exlsting pplicy of insurance shqwi�g: (a)the name ot the ir�surer; (b}lhe rtsk5 frrSUred; (c)the amounf ef the policy; (d)the property insured,
<br /> tho thon current replacement value ot such properfy, and th� manr,� ot detasmtNng that value; and (a) the expiration date ot thc� pnlicy.
<br /> Trustar shnll, upan request of Lendar, have an lndepandent�pprafser ssdstaclory;o Lender determin�the cash valua reptacement cosf at the
<br /> Prop9rty,
<br /> fa(PE►iQITURES BY LEND�it. If 7rustar faiis to comply with an;�provisipn o�this peed o�7rust,or if eny ecdqn or proceeding is commenced that
<br /> would matarially aHect Lender's fnterests in the Property,Lender on Trustqrs behalf may,but shall not be requlrBd tq,t&ke any ection that Lender
<br /> dearm eppropriat0. Ar,y amount fhat Lender e?�nds in so doing wiil bear Intarest&t the rate providad tor In th5 Npte Irom tha date Incurred or paid
<br /> by Lender to the data of repayment by 7rustor. All such�enses,at Lender's opdon,wiil (a)be payable on demand, (b)be added to ihe bslance
<br /> of tha Noto and be appartloned among end be pa.yabte with any ir�stal!ment payments 4a becpme due durir,g eithar (i)fhe term o!any eppNcable
<br /> {nsurarre policy or (ii)the remaining tar�of tha�lote,or (c)be tr�ated as a�alloon paymant which wili be due and payable at th�a Note's maturity.
<br /> Thls Deed of Trust also wiil secure pa)�ment oi these amounts. The rights provided for in this paragraph Shsll qa In addition to any other rights or any
<br /> remedi�s to whlch Lender may be entitied on account ot th9 defeuR. My such acNdn by Lender sha11 not be construed as curing the detault so as tp
<br /> bar Lender ham any remedy that it othe�wlse would have hed.
<br /> WARRANT/;DEFENSE pF TITL�'. The following prov}s(ons relaNng to owr±ershtp ot the Property ero e pert bf this Deed oi Trust.
<br /> Tltle. Trustor war;ants that: (a)Trustor hqids gocd and markOtaBla 8Ue of record to the Property in fee simple,hee and clear of stl flans and
<br /> encumbrances othsr than thoss 5et forth fn the Real Praperty description or In any GUe insurance poliry,�tle rsport,or f+nal tltle oplNon issued in
<br /> favor of,and accepta�'by,Lender in connecdpn with this paed of Trust,and (b)Trustpr h�s Ehe futl righl,pawer,and authority to execute end
<br /> deliver this Dsed of Trust fo L�nder.
<br /> [kef�nse of Ti41e. Subject to the exCep'tor.:,i t`:a paragraph abave,Trustor warrants and wiil/orevgr defend tha;�tla to the Property against the
<br /> lawful c�alms o' ait persans. In the event atiy acUon or proca�eding is commanced thet questlans 7rustar's title or !he Interest of 7rustee or
<br /> l.endar unde*this beed of Trust,Trusta shc:Ii defend the er.tion at Trustor's expense. 7rustor may be the nominal party in such proceeding,but
<br /> l.ender shall be entiqed tb participa4e In the prvicesding gnd to be represented in the proceeding by counsel af Lenders own choice, and
<br /> 7rustor witl doilver,or cause ta be dalivered,to Lender Such Instruments as Lender may rec�uest from dme ta tlme to permit such parNcipaHqn.
<br /> Campllance With Laws. Trustor warrants that the Prqperty end Trustor'S use of the Property complies with aN s�dsting applicable Isws,
<br /> qrdinanCes,and regulations of governmentai authOrifies.
<br /> CONpEMNATION. 1"hd following prvvislon�relaHn�y to condemnatlon procaedings�rQ e part ot this peed of 7r�'st.
<br /> Appiicdtian of Net Proceeds. If all o; ar.y part of the Property Is condemned by eminenf domain proceedings or by any proceeding or
<br /> purchase In lieu of condemnation,Lender may at its electlon requlre that alt or eny pvrtion of tha r.et proceeds af the award be applied to the
<br /> Indebt8dness or the repair or�restoratian of the Prpperty. The net proceeds of She awflrd shall mean the awprd�,fter psyment of aH r�asonable
<br /> costs,expenses,and attomays'fees incuned 5y Trusfee or l.ender In connection with the condemnsdon.
<br /> � Prdcsedinps. If any proceedEng in condemnalion is�iled,Trusfor shall p�omptly nofity LendQr in writing,and Trustpr shali promptly taka such
<br /> steps es may be necessery to defend the ection and obfaln the award. Truslor may ba tha nominai purty In suCh proceeding,but Lender shap
<br /> ba entitled to part�lpata In fhe proceeding and to be r9presenfed In Ihe proceedinp by Couns8l Of i'S own cholce,and Trustor witl dellver or
<br /> cau�e to be delivered ta Lender such Inshuments as may be rvquest�d by It frnm dme to tlme 1�permit such panc�lpaHon.
<br /> IMPOSITION OF TAX�S� FEES ANp CHARGES BY GOVEFINNl�N7AL AUTFIOiiIT1ES. ThA IC+110w1ng p�OVf510R5 r61ABng 10 yG:oP����ro��w1�n7iv`"s�
<br /> 1ea5 and charge;are a part af thfs need of 7sust:
<br /> Current 7euces,F�s efnd Gharpes. Upon request by Lender,Trustor shall execute such documents in eddldon to fhis peod of Trust and fake
<br /> whatever other sction Is requesled by Lender to perfact and conHnue Lender's�len on the Real Property. Trustar shall rolmburse Lender(or at�
<br /> tx�ces, as doscrib�d balpw, fo�ether with alt �:xp�nse5 Incurcad in recprding, perfvcting or candnuing thls Deed of Trust, includfng withoul
<br /> limltation ail taxes, fees,dncumentary stamps,end other chargas for recording or repfstering this p�ed of Trust.
<br /> Tpues. The foU�wing shail consritutd taxes fn wh{ch this secNon applies: (a)a specific ta�c upon thls type of beed ot Trust or upqn all or any
<br /> part af the Indabtedness 5ecured by thls Dead qf'Trust; (b)s speclfic tax pn 7rusta wh�h Trustw is eulhorized or requlred !d deduct hpm
<br /> payments on the Indebtedness secured by Ihis type of Deed of Trust; (c)e tax on thls type pf Daed o1 Trust chargeabie against the Lender or
<br /> the hplder of the Ncte; and (d) a speciflc tax on a�l or erry porNqn vf the Indebtedness a on paymen� of prindpai end Interest made by
<br /> Trustor.
<br /> 5ubsequent 7'axea. If any tax to wh�h thls secqon appfles!s enacted subsequent to the date of 1h15 i7end of Trusf,this event sheq heve fhe
<br /> same etfect as an Event of Default(as defined below),and Lender may ex6rctse any or ap of its avatlable remedies tor en Event vf[?efautt as
<br /> pravided below unless Trustor eifher (a)qays the!ax 6efore fi becomes delinquent,cr (b)cantess the tax as pro�idod abov�In q,�Taxes and
<br /> Llens sec:tlon�nd deposits with Lender cash pr a suffficcient cqrporate suety bond or other security sai�stactory to lender.
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