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2�1008939
<br />DEED OF TRUST
<br />(Continued)
<br />F'age 3
<br />insurance policy also shail inciuti� an endorsement providinq that cover�pe in favor af Lender wNl nqt be impafr�d in any way by any
<br />act, omissivn or default o# Trustnr or any oth�r person. 5hvuld the Reai Prnperty be fncated In �n �cea designated by the Direetor af
<br />the Feder�l Emergenay Management Aqency as a sp�clal flood haza►d area, Trustor agrees to obtafn �nd mair�tai� �ederal Fioad
<br />Insurance, if availabie, for the fuil unpaid princ��ssl balance ot the Ioan and any �arior Ilens an thd praperty securing the la�n, up to the
<br />rnaximum policy Ifmits set ur►dar the National Flaod Insurance Pro�ram, or as c�h�rwias �quired by Lendsr, and to maintain such
<br />irisurance fnr the tisrrn aF the loan.
<br />Applicatinn af Proceada. Trustor shafl promptly notify Lender af any loss vr darnage t� tf� F'roperty, Lend�r may make proof af {oss
<br />ff 7rusbor faIl� to da so within flft�sen (16) cfays of Ehe casualiy. Whether or npt Lender's security is impalred, Lender may, at t,ender's
<br />ekection, receive and retain the proceeds nf arry insuranca and apply the proveeds to the redwction of the Indebtedness, pa}rment of
<br />any Flan affiect)ng the Property, or the restnratton and repair af the Property. If Lender mlects to apply the prooeeds to r�esteratEan and
<br />repair, Trus�or shall repair ar repl�ce the damaped or destroyed Improvements in a mant�er satisfacb�ry tn �.er�der. Lender ahall, upon
<br />satisfactory proof aF auch eupenditure, pay or reimbur�se Trustor from the prrncseds for ft�e reasanable cost of repair or restoration if
<br />Trustor is not in deFault under this peed pf'Trust. Any prviceeds which have nvt heen disbursed within 78U days a#ter their necelpf
<br />and wh�ut� Lender has hat committed ta the repafr or restaration of the Prop�rry shall be used �irst td pay any amount owing tp 1_ender
<br />vnder thia Deed of Trust, then to pay aca'ued interest, and the remainder, if any, shall be appiied to the prin�pal balanoe of the
<br />lndebtednass. !f Lehder holds any proceeds atber payment In fuli of the tn�btedneas, such prooeeds shall be pald to Trustpr as
<br />Trustor's iriterests may appear.
<br />LENDER'3 EXPEND1iURE3. !f Trustor fails (A) to keep the Property iree of all taxes, lien�, �ecurify intarests, encumbranass, and other
<br />claims, (B} to prvvide any required insurahoe on th� Property, ar (C) ta make repairs to tne Property then Lender may do so. If any
<br />action ar proceeding is commenced that wpuid rnaberialiy afiect Lend�r's irtterasts in tha Properry, then I.ender an Trustor's beha�f may,
<br />but is not r�qulred to, take any acGon Ehat Lander betieves to be approprfate ta protect Lende�'a intere�. Atl expenses incurred ar pald by
<br />Lender for such purpos�s wilt then bear IrRer�est at the ra� charged under the hlote from pia dabe (ncurred nr paid by Lender to the date of
<br />repaymertE by Trustor. All such expenses w11E b�come a part of the indetytedness and, �i Lender's aptfan, wili (A) he payable on demand;
<br />(B} be added to the batanoe of the Not� and he �pportioned amang and be payable with any insta�imant payments ta becoma due during
<br />elther (9) the term aF any applicabie policy; or (2) the remaining term of tt�e Note; or (G) be treated as a bafloon paymeM
<br />which will be due and payable �t the Note's maturity. The Deed qf 1"rust afao will secu�s payrr�nt af these amounts, The rfghts provided
<br />far in this p�ragraph shall be in addition tc any other righis or any remedies fa which I..ender may be errtitled nn account of any default.
<br />Any such aativn t�y l.endar shatl not qe construed as curing the default so as ta bar l.endar frorr► �rry r�medy that It atherwise wou�d ha�e
<br />had.
<br />WARRANTY; bEFENSE OF TITLE. The fitlowing pr�visfons relating ta awnarship oi the Property are a part cf this 17eed a� Trust:
<br />Title. Trustor w�rrar�ts that: {�) Trus�or holds gppd and rr'�arkEtable #itle of record to the Prop�rky In iee simp6e, free and clear af ai!
<br />Ifens and encurrtbrances oth�r than those set farth in the Resl property das�ription vr in any tiNe in�uranoe pnlicy, f�le report, or final
<br />title opiniah issued in favor aF, and aceepted 17y, L.ender in c.annection with this �eed of 7rust, and (b) Tn,rstor has the full righf,
<br />power, and auth�rlty ta execute and deliver this f�eed af Trust to Lender.
<br />Defense af 'I"itla. Subject to the exception in tha paragraph ahove, Truskot war�nts stnd wlll forever defend the i3ti� to the F'roparty
<br />againsE the lawfu! clefma af all persans. In the event eny action pr proceedin� Is comrr�nced that questlor►s Trustar's title 'or the
<br />tr�terest of Trustes or Lender under this Deeci nf 7"rust, Truator shalf defend the action at 7rustar's expense. Trustor may pe the
<br />naminal pe�rty in such prooeadir�, but l.ender shall he entitled to partiapabe in the procaeding �nd to be represer�ted In the prviceedin�
<br />by counsel of LendePs nwn chaice, and Trustor will deliver, or cause to he deltvered, to Lender such tnsq�uments as Lender may
<br />requeat f�om time to time to pertnit such participatian.
<br />Camplianr,e VYlth Lawa. Trustor wa�ranta that the Property aitd Trusto�'S u�e af the Property compties wlth alt existing appiicable
<br />Isws, ortiirtancss, and regutations aF goverr�mental authvrif�s.
<br />&urviwat of Pramfsss. AII pramises, agreemanis, and atatements Tr�ratnr has made In this � of Trust shaN surviva the exacutfon
<br />and delivery of this De�d aF 7rust, ahall be continuing fn nature and s[�all ramain in full farce and e'f�act until such tlme as Trustor's
<br />Ihdebtedness ia paid in fi,itl.
<br />CONb�MNAT{ON. The following provlsipns relaUnq ta condemnation praceedinps are a p�rt af this qsed of 7nast
<br />Proceadin�. If ar�y proaeedina in oondemnat�on is flled, 7rustar shall promptfy notify Land�r in writing, and Truskar shalf prprnptly
<br />takB such steps as may ba neoessary to def�nd tha action and obtain tha awarrl. Trustor m�ty be the nominal party in such
<br />prooaeding, but �ender shalt pe erettt[ed to' patticipatie in the proceeding �nd to be r$presen'bed in the proceeding by oeunsel of its awn
<br />cha€ce, ancE Tnrstor will deliver ar cause to ba delivared to Lender such Inatrumant� and documentatinn as may be requested ey
<br />Lender from time to times to permit such parklcfpation.
<br />ApptEr.atlon of Net Pracesc�. If all or any patt of the Property is oonderrtned by emineni domain proceadings or by any praceeding or
<br />purchase in lieu of ccndemnatlan, Lender may at its efectlon requtre that all or any ponivn aF the net praceeds af the award be applied
<br />tv the Ind�btedn�ss or the repalr pr resboratlan af tfte Property. The r�et propeeds of the award shelf maan the award after ppyment c�
<br />atl reasonable costs, expenses, and attomeys' fees Incurred by Trustee or Lander in connectlon with the condemnatipn.
<br />[MPASiI"IQN Q� TAX�3, FEES AMD CHARGfS BY GDV�RNMEN7AL AU'1'HORITlES. The fvllawing pravisions rel�ting to govarnmen�-al
<br />taxes, fees and charges are a part oP this Deed af Trust:
<br />Gurrent 7ax��, F�es pnd Charges. Upon request by Lender, 7rus�r shafl executa such documerrts In additinn to this Deed of Trust
<br />�nd tska whataver other action is requested by i,.ender to perted and continue Lender's lisn an tho Real Prqperty. Trustor �ha11
<br />reimburse Lender for all taxes, as descrtbe@ betow, together with all expenses incurred 9n revording, pertecting or continuing this D�ed
<br />of Trust, includirtig wlth�ut limitativn all taxas, fee�, documerttary stamps, and ather charges for recorcling or reg3st�ring this Deed of
<br />Trust °
<br />Tax�s. The followtng shall constitute t�xes to which this section appiies: (1) a speolflc f,ax upon this ty}ae af peed of Trust ar upan
<br />al1 or arry part of the Indshtedne�s saoured by this Detd oT Trust; (2) a spec(flc tax an 7rustor whioh Trustor is au#horized or
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