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201008368
<br />�EEC3 �F TRUST
<br />(Continued)
<br />P�ge 3
<br />insurance policy also shall include an endorsemerrt providinq that coverage in favor of LencEer will nvt be impaired in any way by arry
<br />qct, omisslon or de�ault of Trustor or any other persan. Should the Reat Prpperty be located In an a�a designated by the Direotor of
<br />tFte Federaf Emergency Management Aqency as a specfal flvad haxarcl area, Trustar agrees to obtain and maintain �edsral Flood
<br />fnsuranoer, if aval�aBle, far the fuli unpaid principal balance of the inan and any pri�r Ilans an the properry sdcurfng the loan, up to the
<br />maximum policy limits set under the IVadonal Fload Insuranca� Program, or as oth�rwlse required by Lender, and to mafrrtain such
<br />insurance for the term af the Iaan.
<br />Appiication af ProceeAs. Tiustar shalt promptly ncrtiiy Lender cf �ny loss or damage to the Property. Lender may make proof of loss
<br />if Trustpr falls io do so with€n frfteen (15) days of the casualty. Whether or not LendePs security is impaired, Lender may, at Lender's
<br />electian, receive and ret�in the proc:�+eds of any insurance and apply the proceeds to the reducdon af the Indebtedness, paym�nt of
<br />arry lien affe�eting th� Praperty, ar the restaratipn and repa3r af the Prapetiy. If Lender elects to appiy the proceeds ta rostoratlon and
<br />repair. 7rus6or shaU repatr or replace the damaqed pr clesfroyed Improvement� In a manner satisfiactory ta Lender. Lender shap, upon
<br />satisfactory provf of such expenditure, pay or reimburse 7rustor from the proceed� for the reasonable aast af repair ar res6aratior� if
<br />Trtastor is rsat in defauPE under th3s Deed af 7rust. Any proceeds which have nat heen dlsburrs�d within 180 days aftar their rsceipt
<br />�nd which Lander has not cammitted ta the repair or restoration of the Praperty shal! be used first to pay ahy amount awing to l.ender
<br />under this Daed of Truaf, then to pay acxrued int�re�t, and the remainder, if any, shall be applied to the principal 6alance of the
<br />Indebt�dness. If Lender holds any prooeeds after payment in full of the lnd�hhtedness, such proceeds shall be paid ta rrustor as
<br />7nistv�'s interests may appear.
<br />LENDER'S �XP�NDITURES. !f Trustor fails (Aj to keep the Properiy free of all taxss, Ilens, security ir�t�erests, encumbrances, and vther
<br />ctaims, (8) to provide any requlred inauranoe on the Properiy, ar (C) to make repalrs tn fhe Property then i..ender may do sa. I€ any
<br />actlan or proceeding is corrxnenced that would materialty aifect Lender's IMerests in the Property, then Lender on Trustar's behalf may,
<br />but ts not requir�d to, take any acUon thai Lender believes to he appropriate ta pratect Lende�'s interests. All expenses incurred ar pald by
<br />L�ndar far such purposes wNE ttren bear interest at khe rate aharged under the NotB from the date inCUrred or pald by Lehder to the date of
<br />repaymant by Trustor. All such exper►aea Wilf becpme � p�rt crf th� Indebt�dnesa and, at Lender's aptlon, will (A) tae �ayabie on demand;
<br />(Bj be add�d to the b�lanoe of the Not�a and be �pportioned among and be p�yabte with any instaUment paymerr��ss to became due during
<br />�ither (�} the tarm of any appticable insuranoa policy; ar (2y the remaining t�rm af tha Nnte; ar (C) he treated as a ballaan payment
<br />which will �� due and payable at the Nata's maturlty. Tha Deed of Trust aiso wlll secure payment aF these amnunts. 1`he ri�hts provFd�d
<br />far in this paraqraph shall bo In additlon tp e�ny other rlghts or any remedies to which Lender m�y be entitied nn �coount af any default,
<br />Any such actian by l.ender shall not be conafruad �a curing the def�ult so as to bar l.ender frorn any rarr�dy that ft athervvlse wouid have
<br />t�ad.
<br />WARRAN7Y; D�FENSE UF TITLE. 7he foliowing prp�labns relating to awnership af tho Property are a part af this qeed af Trust:
<br />71t1e. T'rustor warrants that: (a} 7rustor holds goad and marketable title of record to ths Property In fee simpie, free and clear of all
<br />tiens and encumbrancas ather th�n thase set fnrtt� fn the Real Prop�rty descrlption ar in arry tltle insurance policy, title repart, or final
<br />title apinion issued In favor of, and aocepted by, Lender in connevtian w3ih ti�is pead of Truat, snd (b) Trustor has tha full right,
<br />pnwar, and autharity to execut8 and deliver this peed v# 7rust to �,ender.
<br />pefense of 'Fttle. Subjact to the exception in the paragraph abov�, 7rusYor warrants and wiq fnrever defend the fitle to the Property
<br />against the lawful ciaims of alE p�raons. In the event any acti�n or proceeding is commenved that questions Trustor's t�fe ar the
<br />int�erest of Trus6ee or Lender under this qeed cf Trust, 'Crustor shall defend the action at Trustor's �xperise. Trustor may he the
<br />nof�i3nal party in suah praceading, but Lender ahall ba en�qed to partickp�ts in the proceeding and to be represented in the praceeding
<br />by caun3el of Lende�'s own chvice, and Trustor will deliver, or cause ta be del3varad, to Lender such instrumerrt.s as Lender may
<br />request fram time to time ta perrrtit such particlpatian.
<br />Cvmpllance With I»aws. 'Trustnr warrarrts that the Property and Tru�tar's u�es of the Property complfes with all �xisting applicable
<br />laws, ordinancaas, and regulatlnns of �nvernmentaf authoriti�s,
<br />Surviva! of Promis�s. All promises, agreemaMs, and statements Trustur has mpde in this Deed oF Trust shall survive the executlon
<br />and delivery pf this C7B� of 7rust, shall be continuing in nature end shall remain in full forcd and afFecE until such time as Trustors
<br />ir�debtedness is p�id in ful1.
<br />CONDENWA'T�M. The fallawing prav(sinns relating to cpndemnatfon procaeedin� are a part af this Deed af Trust:
<br />Proceedings. If any proceeding in condemnatlon Is �led, Trustar shall promptly notily Lender in writing, and Trustor ahall promptly
<br />take sucM steps as may be necessary to defand the action and abtain the �ward. 7rustor m�y be tt►e nominat party in such
<br />pmo��ding, but Lender �haU be �ntitlad to partic�pate in the proceeding and to be represented in the proceeding by counsel of ita own
<br />choice, and Trustor witf cleliver or cause to be deltvered to Lender such instruments and documentation as may be requestecl by
<br />Lender from time ta time to permit suoh participation.
<br />Appllcattan of Net Procaeds. !f all or any part aF the Property is onndemned by eminent domain praceedings or by any proc;aeding or
<br />purchase in lieu of oondemr►afion, Lender may at its ei�ction require lhat all or any pprtipn of t!� net proceads of the award i�e apptied
<br />to the Indebtedna�s or the repair or reskcration of the Proparty. The net proceeds af the aavard shall mean the award aftsr paymant af
<br />�I! reasonable coats, expenses, and �ttameys' fees incurred by Truat�e or Lgnd�r in connectian wtth the condemnation.
<br />IM�SfTION OF TA7CFS, FEE5 AND CIiARGES BY GOVERNM�NTAI. AUTH4RITIES. The following provislnns r�lating ta governrnental
<br />taxes, f�es and charg�s aro a part �f this Qeed qf Trust:
<br />Gurrant Taxes, Faes and Charges. Upon requeat by Lander, Trustar shall exacute such documer�ts in addi�nn to this peed of Trust
<br />and te�ke whatever other action � requested by I.ender ta perPect and c:ontinue Lender'a lien or� the Real Properry. Trustnr shall
<br />reir�aurse Lenda� iar all taxas, as described below, togeth�r wlth a11 expenses Encurred in recnrding, perFectin� or continuing this Deed
<br />af Trust, inGuding without 19mitatian ail taxea, fees, documerrtary stamps, and other chargas fpr recording br repistertng this Deed pf
<br />Trust.
<br />Ta�ces. 7he following shall constitute taxes to which this section applies; (1) a specifio tax upon this type of t7eed af Trust or upnn
<br />all or any part of tfie {ndebtedness secur�d by this Daed af Trusi; (2) a specific ta�c on Trustar which Trustar is euthorized or
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