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<br />DEED UF TRUST
<br />(Continued)
<br />Page 3
<br />Insurartce policy atso shall inc[ucl� an endorsement providing that coverage in favor df Lender will not be irr�aired in any way by any
<br />�cE, omiasion or dsfault of 7rustor ar any pth�r persvn, Should ths Real Praperty bv lacated in an �r�a d�signat�d by the Diractar pf
<br />the Federal Emergency Managrarnerrt A�errcy aa a special flood hazard area, Trustnr agrees to obiain �nd rn�itttain Federal Fload
<br />Ins�rance, if avaflable, fur the flafl unpaid principai balance nf the Ivan and any prior lier� pn the prqperty securing tha laan, up ta the
<br />maximum policy limfts set und�' th� Natfon�l Flood lnsurano� Program, or as otherw(9e requlred by Lender, and ta maintain such
<br />irisurance for the term aF fhe loan.
<br />Appllaatlan of Proceeds. Trustor shall prnmpdy notify Lender of any bss or damage to the Proparty. Lender may make praof af (nss
<br />if T'rustar fails ta dn sa witMin t�teen (15) days af the� casualty. Whefher or not Lender s security is impaired, Lender may, at Lender's
<br />eiaction, receive and retain ti� praceeds of �ny insuranee and apply the proceeds to the reductian of the Indebtedness, payment of
<br />any flen �ffecting the Prvp�rty, or the r�storatian and repafr qt the properEy. If I.ender eleats to apply the proceeds #a restaratian and
<br />r�pair, Trustor shall repair or replace thE► d�maged or destroyed Improvement� In � mar�ner s�tlafactory to I..encl�r. Lender shall, upar�
<br />satisfactory proaf of such expenditurs, pay or reimburse Trustnr from the proaeeds for the r+easonable cost of repair or restorafiori if
<br />Trustar is nnt in default under this beed af 'Trust. Any proceeds which have not been ciis6ursed wtthln 18� days after their receipt
<br />and which I,.ender has not cammit�sd in the repair or restaratioh of the Property shall be used first tv pay any am�unt owing to Lender
<br />under tf�is De�d o1 Trust, then to pay aocrued interest, and tlte remafnder, ff any, sh�ll be appfled ta the pr�ncipal balance oF the
<br />Indebtedness. If Lender holds any prpoeads after payment in Pul! af the Indebbednesa, suah proc�ds shall I�e paid tv 7rustvr as
<br />Trustor's int�rests may �ppear.
<br />L�NDER'8 EXP�NDITUR�S. If 7rustor f�ils (A) ta kesp the AropeRy free c�f atl taxes, liens, securiry irrterests, encuml�rances, and pther
<br />ciaims, (�) to provide any requ+red ir�suranoe on the Properly, or (C) to make repairs to tha Prvperty then Lend�r may da so, If any
<br />actlon or proceedi�g is commenced that would materiaily affsct l..ende�'s Intere�ts 3n the Property, then Lendsr on Trustor's behatf may,
<br />but is nat requfr�d to, take any actian that Lender beffeves to be epproprlat� to protect Lende�'s �nt�r'�st�s. AII expense� incurred or paid by
<br />Lender for such purposes will then hear irtiterest at the rate charggd un[�r ft�e Nate frarn the date inaurred or pafd by I,.ender to the date of
<br />rapayment by Trustor. All such expenses Wip became a part af t�e Indebt�zdne�s arKl, at Lender's optivn, will (A) be pay�ble on [lemand;
<br />{B) be added to the b�i�nce of the Note and be apportioned among and be payable with any inst�Amerrt p�yments to become due during
<br />efther (1) the term af any applicable insurance policy; or (Z) the remainlh� term of the Not�; or �Cj be trnated as a baNaon payrr�ent
<br />which wlil be due anc! payable at the Nate's maturity. The beed of 7rust aisn will ssoure payment ef these emounts. The rights provided
<br />far in thi� pa�a�raph shall be in addltion to any other ri�hfs or arty remadies ta which Lender m�y be erititl�d an ancount of any defauit.
<br />Any auch a�ct�an by Lender sttdll nat be construed as curing the default so as ta bar Lender from any rremedy that it vtherwise wpuld have
<br />had.
<br />WARRANTY; DEP�NSE OF TITLE. The �ollnwing provislans ratating ta own�ryshlp ot the Property are a part af this Deed of Trust:
<br />Title. Trustar warrants that: (a) Trustor hotd� �ood and marketable title af record to the Property in fee simpi�, frea and Gear of all
<br />lier�s and encumprances other than those set forth in tha �eal Property descriptlon or in any title insurartce paiicy, title repar#, ar final
<br />title opknlott issued in favar of, and accepted by, Lender in conr�ct3on with thls beed af Trust, and (b) Trustar has the iufl righ#,
<br />pow$r, and autharity to execute and cfeliver thi& Deed af Trust to L,er�der,
<br />Defen�s af Titl�, 5ubject to the exception in the paragraph above, Truatar warrant� and wili forev�r cfe#end the tit{e to the Aroperty
<br />against the tawFul claims of all persons. In ths event arry actinn or prrx�eeding is c:ommenc�d th�t questlnns Trustor's tit�a or the
<br />intvrest of Trustae or Lender under this L)ead of Trust, "frustor shall defend the action at Trustor's expens�. '�rustnr h�ay be the
<br />nominal party in such prooeeding, but Lender shatl be entltled fo particip�6a fn the proceeding and to be represented in the� proce�ding
<br />by cpunsel pf LendePs own cEtniae, and Trusbor will deliver, or caus� to be deEivered, ta Lender such ins#rumerrts as Lender rrray
<br />request frnm �rne to time to permit such pafitcipaban,
<br />Compliance With Laws. Trustor warrants that the Property and Trustar's ase of the �'roperry camplies with �fl exis�ng appitcabl�
<br />laws, ardfnanaes, and regulations of govemment�l authoritiss.
<br />Survival of Prnmises. Ali promfses, agrmemerrts, and statements Tn�stor has made in th3s Oeed of Trust shatl surviva fhe executian
<br />and d�livery of this qesd of Tru�t, ah�l be continuing in nature and shall remaln in full force and efFec# unt�i such time as Trustar's
<br />Indeb6�dness i� p�id in full.
<br />C�NDEMNATIDN. The fallowing prcrii�ivn� relafin� to condemrfation propeedings are a part af thls Aaed of Tn�st:
<br />Proceedings. If any proceeding in condemnativn is flled, Trustor sha11 promptly notify Lender in writing, and 7rustar shaN prom�tiy
<br />take such st�ps as may p� n�cessary to defend fhe action and obtain the award. �Frustor may ba th� nominaf party in such
<br />prooeedinq, but Lendar shaU be entided ta per�cipate in the proceeding e�nd tio be tepres�nted }n fhe prooeeding by caunael of its own
<br />choice, and Trustar vrill d�liver or cause to be deliver'�d to Lendar such instruments and documentation as may be requested by
<br />Lender from t�me to tlme to permit such participation.
<br />Application M Net proceeds. 1f atl or any part af th� I�roperry is condemned by eminer�t doma€n procsedings ar by �ny proc�eed�ng vr
<br />purchase in lieu of pnndemnadon, L.enc{er may at Its electlo� require that alf or any portion ot th� net prnoeeds of the award be applied
<br />to the Indebtedneas or the repair or restoration of the Prnperty. 7he net proceads afi the awarcf sh�ll mean the award affer payment of
<br />al[ reasonable casts, expenses, and attattieys' fees incurred by Trustee or Lender in connection with the condemnatlan.
<br />IMPQSITIQN OF TAXES, FEES ANU CHARL3ES BY GOVERNMEN7AL AtJtNQRITIE$. The follawin� provisipns relatfng tn gavemmentai
<br />taxes, fees artd r,hargas are a part of this L]eed of Trust:
<br />CurrBnt Taxas, Fees and Charges. Upon rec�uest by Landar, Trustor shall execute such tixumerrfs in atiditian to this Deed of 7:'ust
<br />and take wh�tever att►er action is roquested by Lender to perFect and oontfnue l.ender's Iien on the Reai Property. Tru�tor shal!
<br />reirrd�urse Lender �Fnnr all taxe�, as described beloW, together with atl expenses incurred kn reccrding, perFee�ng or corrdnuing this peed
<br />af 7rust, including withaut Iim3tat3vn all taxes, t�ia, documenYary �tamps, and other �arges iar re,corciing or registerirTg this Desd c�f
<br />'Trust.
<br />Taxes. The following shall constitute taxea to whic� this aeetion applies: (1) � specafic tauc upon this type of C1eed af Trust or upon
<br />ali nr �rry part of the Indebtedn�ss secur'ed by this Oeed of Tru�t; (2) a spacific tax on Trustor which Trustor is suthorized or
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