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201100137
<br />DEED OF TRUST
<br />(Continued)
<br />Page 3
<br />the Federal Emer�gency Managem�rit Agency afi a special flood hazard area, Tru'star agfees to obtain and maintain Federal Flood
<br />Insurence, if avaflable, far the full unpald principal balance of the loan and arry prior iians an the property seourfng the loan, up to the
<br />meximum palicy limlts set ur�der the National Flood Ensurance Propram, or as otherwise required by Lander, and tn mairrtain such
<br />insurar�ce for the ter�n ot the Ioan. .
<br />Appltcatfon of Proceeds. 7rus'tvr &hall promptly notity I.ender of any loss ar damage to the Property. Lender may make prpof of los&
<br />1f'frustor fails to dn so within flfteen (15) days af the casualty. Whether or not Lendsr"s security Is impalr�d, Lender may, at Lende�s
<br />electlon, receive and �etain the proceeds af any insuranoe and apply the proaeeds to the radudion af the Indeb#edness,. payment af
<br />ariy lien affecting the Pno�erty, ar fhs restoration and r�pa�r of the Prop�riy. If Lendar elects to apply the prnceeds to restnration and
<br />repair, �'rustor shall repair or replace the damaged or desiroyad lmprovements in a mannet sadsfactary ta Lender. Lender shall, upon
<br />satisfactory proof aP such expencilture, �ay or reimburse 7rustar from the pr�oa�ds for the reaspnable cost of repair or restoration if
<br />7rustor is nat in default under this qeed of 7rust. Any proceeds whiah iiave not been disbursed witl�►in 180 days after their recmf{�t
<br />and which L�d�r has not committed to th� repair or resEoration af the Property shall be used flrst to pay ar3y emourrt owinp ta Lender
<br />under this Deed of 7rust, th�n to pay acxrued Irrtereat, and th� r�m�irtder, If any, shall be appfie� ko the prirrcipal balance af the
<br />Indabtedness. If Lendar halds arry prace�ds after p�yment in fult of the indebtedness, such proceeds shall be paid ta Trustnr as
<br />Trustar's tnterests may appear.
<br />L.ENp�R'S EXPENDITUR�$. if Trustor fails (A) to keap tha Praperty free of alf taxes, Ilens, security Interegts, encumt�rances, and other
<br />clafms, (B) to provide �rry required irtsurance on the Properly, ar (C) to make repairs to the Property then Lender may do sa. If any
<br />ac�ian ar procsedir�g is commenced ihat wauld materially affect Lsnder's interests In th� Property, then L.ender an 1'rustor's behalf may,
<br />t�ut is nat required to, take �ny aetipn fhat Lender believes bo be appraprlate ta protect Lender's Interests. AIt dxpenses incurrsd �r paid by
<br />l.snder fvr such purposes wi!! then baer interest at the rate charged under tha Nate from the date Incurred or pald by �.ender to the date of
<br />repayment by Trustor. All such expanse& wlll became a part of the Indebtedness and, at Lenders opfion, will (A) be payahle dn demand;
<br />(B) he added to the balance of the Nota and be apportloned among and be payable wlth any Installmant payments t� become due during
<br />either (1} the term of any applicable insurance poiicy: ar {2) the remaining term of the Note; vr (C) be trea6ed as a balloan payment
<br />which witl be due and payabie at the Ndte's maturity. 7he Desd o�f Trust also will secure payment af thase amourd&. 1'he rights provided
<br />far in this paragraph shall be in addition tv arry other rights or ar�y remedies to which Lender may �e entitled on account af any defaulf,
<br />Arry such action by Lender shall not be canstrued as curing the default sa as to bar R.snder from any remedy that !t othervvise wc�uld have
<br />had.
<br />WARFWN7Y; oEFENSE pF TI1"I.�. The fvilowtng provisians relatfng to awnership of the Praperty are a part ai this tieed af Trust:
<br />Tttfo. Trustnr w�rr�nts that: (a) Trustor hnlds good and market�ble title of reaond to the Property tn iae slmple, free ar►d clear of all
<br />Iiens and encumhrances ather than thase set tarth in the Real Property deacr3p�on or in any title insuwancs policy, f�Fl� r�part, qr finai
<br />tiNe opinion issued 1n favor aF, and eccepted by, Lender in connection with this Dead af 7rusi, and (b) Trustor has the full righf,
<br />pawer, ar�d authorfiy to execu6e and deliver thfs Deed of Trust tp Lender,
<br />p�fansa nf Tttle. Subject to the exceptlon In the paragraph above, Trustor warrants and will forever defsrid the title tv the Prvperty
<br />agair�t the lawFui plaims of atl persans. In fhe everrt arry action or proceeding is cpmmenced that questiorts Trustor's titie or the
<br />Interesf of Trustee or Lender under thls pead of Tru&t, Trustar shal[ defend the action at Trutstor's expense. TrusOdr may be the
<br />nomirtal party in such proceading, hut Lender shall pe entitled to partic6pate in the pro�adinp and to �e represerrted in the proceedtng
<br />by counsel of Landers own choice, and Trustor wEll deliver, ar cause to be delivered, tv Lender such Instruments as Lender may
<br />r�equest from time tn time to permtt such paRici�ation.
<br />Compliance With Laws. Trustor warrants that the Property and 7rustor's use of the Pr+operty oomplfes with aii existing apptfcable
<br />laws, ordinanoes, and regulatlons of govemmental authorltle&.
<br />5urvivai nf Pramises. PJI promises, agreements, and ststements Tru�tor has made in this beed of Trust shall survive the execution
<br />and delivery of this Deed of Trust, shalt be cantinufng In natur� and shall ramain in ful{ fqrce and ei�ect untll such ftme as Trustor's
<br />Indebtedness is paid In full.
<br />CONDEMNATION. The foilawing provislons refa�ng ta aandemnatlon proceedings are � part nf this I�eed oi' T►�.►st:
<br />Procardings. If any proceedin� in condemnattvn is filed, Trustor shaN prom�ytty nptify Lender in writing, and Trustor shaN promptly
<br />take such steps as may be necessary to d�fend the ac�nn and obtaln the award. Trustor may be fhe nominal party in such
<br />proceed€ng, but Lender sh�il be entitled to participat� 1n th�e proceediriq and to be represented in the proceeding by counsel aF its awn
<br />chotce, and 'Frustor will deliver or cause to be delivered to Lender such instrumants anti documentation as may be requestad by
<br />Lender from time ta time to pem�it such participation.
<br />ApplicaHorf a� Net Proceeds. If all or any paR c�F the Prvperty is co►�demned by eminerot domain prnceedings or by �ny prooeeding or
<br />purchase in Eleu of candemriatfpn, Lender may at its eleetfon requlre that all ar any partlan of the net proceeds of tE�e award be applled
<br />ta the Indabtedn�s or the repalr or restaration af the Property. The net procseds of th� award shall mean the award a�ter paymenf of
<br />all r�asanahie cpsts, expansss, and atkameys' fees incurred by Trustee ar Lender In connectinn with the candemnatian.
<br />IMP051TION (7F TAX�$, FEES AND CHARf3E5 BY C�OV�RNM�NTAL. AUTMORCFIES. The falfowing provislons ralating to govemmental
<br />taxes, fees and char�es are �a part of thla iJe�d pf 7rust:
<br />Currant Tayces, �aes antl Charg�s. Upon request by Ler�d'er, 7nrstar aha{I execute such documents in adQitfan to this Dead at Trust
<br />and take whatever othar aatian is requasted by �sndar to parFect and cor�kinue Lende�'s Ilen an the Real Property. 1"rustar sha�l
<br />ralmburse Lender for all t�ces, as descrlbed below, tagether with all expBnses incurred in recording, perFecting pr corrtinuing fhla Deed
<br />of Tn,�,st, including without Iimitatian all t�c�s, fees, documer�tary stamps, and other charges fx�r recarding or registering this [7eed af
<br />Trust. �
<br />Taxes. The following shall constttute taxes to whtch thia sQ�tiqn appliea: (1) a speclllc tax �on this type of beed of Tn,►st or upon
<br />. alf or any part of the Inciebtedness secured by th(s Daed of Trust; (2) a spe�fic tax on 1'rustar which �'rustor is authorized or
<br />required to deduct 1rom paymenta on the Indebtedness seoured by this type af Raed of Trust; (3y a tax nn this type of Qeed af 7n,st
<br />chargeable agalr�st the Lender or the hofder of the Note; and (4) a specific tax on ail or any portion of the Indebtedness or on
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