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Loan No: 101238682
<br />DEED OF TRUST
<br />(Continued) 2 O 110 2 7 7 8 Page 3
<br />PROPERTY DAMAGE INSURAIYCE. The following �rovisions relating to insuring the F�roperty are a part of this Deed of Trust.
<br />Maintenance of Insu�ance. Trustor shall rocure and maintain policies o fire insurance with standard extended coverage
<br />endorsements on a fair value basis for the full insurable value covering all Impr ements on the Real Property in an amount sufficient
<br />to avoid application of any coinsurance claus , and with a standard mortgage ciause in favor of Lender, together with such other
<br />hazard and liability insurance as Lender may reasonably require. Policies sha I be written in form, amounts, coverages and basis
<br />reasonably acceptable to Lender and issued a company or companies reaso ably acceptable to Lender. Trustor, upon request of
<br />Lender, will deliver to Lender from time to ime the policies or certificates o insurance in form satistactory to Lender, including
<br />stipulations that coverages will not be cance led or diminished without at leas ten (10) days prior written notice to Lender. Each
<br />insurance policy also shall include an endorse ent providing that coverage in f vor of Lender will not be impaired in any way by any
<br />act, omission or defautt of Trustor or any oth r person. Shouid the Real Prope y be located in an area designated by the Director of
<br />the Federal Emergency Management Agency as a special flood hazard area, rustor agrees to obtain and maintain Federal Flood
<br />Insurance, if available, for the full unpaid prin ipal balance of the loan and any rior liens on the property securing the loan, up to the
<br />maximum policy limits set under the Nationa Flood Insurance Program, or as otherwise required by Lender, and to maintain such
<br />insurance tor the term of the loan.
<br />Application of Proceeds. Trustor shall prom
<br />if Trustor fails to do so within fifteen (15) da
<br />election, receive and retain the proceeds of
<br />any lien affecting the Property, or the restor
<br />repair, Trustor shall repair or replace the dar
<br />satisfactory proof of such expenditure, pay
<br />Trustor is not in default under this Deed of
<br />and which l.ender has not committed to the
<br />under this Deed of Trust, then to pay accr
<br />Indebtedness. If �ender holds any proceed
<br />Trustor's interests may appea�.
<br />ly notify Lender of any loss or da
<br />; of the casualty. Whether or not
<br />iy insurance and apply the proce
<br />on and repair of the Property. If
<br />ged or destroyed Improvements i
<br />reimburse Trustor from the proc
<br />ust. Any proceeds which have i
<br />�air or restoration of the Property
<br />d interest, and the remainder, if
<br />after payment in full of the Inde
<br />Compliance with Existing Indebtedness. Duri g the period in which any Existing Indebtedness described below is in effect, compliance
<br />with the insurance provisions conTained in th instrumeni evidencing such Exis ing Indebtedness shall constitute compliance with the
<br />insurance provisions under this Deed of Tru t, to the extent compliance wit the terms of this Deed of Trust would constitute a
<br />duplication of insurance requirement. If any roceeds from the insurance beco e payabie on loss, the provisions in this Deed of Trust
<br />for division of proceeds shall apply only to th portion of the proceeds not paya le to the holder of the Existing Indebtedness.
<br />IENDER'S EXPENDITURES. If Trustor fails (A)
<br />claims, (B) to provide any required insurance oi
<br />maintain Existing Indebtedness in good standing a
<br />would materially affect Lender's interests in the F
<br />Lender believes to be appropriate to protect Lenc
<br />interest at the rate charged under the Note fror
<br />expenses will become a part of the Indebtedness
<br />the Note and be apportioned among and be pay
<br />applicable insurance policy; or (2) the remaining
<br />at the Note's maturity. The Deed of Trust also w
<br />addition to any other rights or any remedies to w
<br />not be construed as curing the default so as to ba
<br />WARRANTY; DEFENSE Of TITLE. The following �
<br />� keep the Property free of all t�
<br />the Property, (C) to make rep�
<br />required below, then Lender ma
<br />operty, then Lender on Trustor's
<br />r's interests. All expenses incw
<br />the date incurred or paid by L
<br />nd, at Lender's option, will (A)
<br />ble with any installment paymer
<br />�rm of the Note; or (C► be treal
<br />secure payment of these amour
<br />ich Lender may be entitled on ac
<br />Lender from any remedy that it c
<br />�age to the Property. Lender may make proof of loss
<br />_ender's security is impaired, Lender may, at Lender's
<br />�ds to the reduction of the Indebtedness, payment of
<br />.ender elects to apply the p�oceeds to restoration and
<br />� a manner satisfactory to Lender. Lender sha(I, upon
<br />eds for the reasonable cost of repair or restoration if
<br />ot been disbursed within 180 days after their receipt
<br />shall be used first to pay any amount owing to Lender
<br />any, shall be applied to the principal balance of the
<br />�tedness, such proceeds shall be paid to Trustor as
<br />es, liens, security interests, encumbrances, and other
<br />s to the Property or to comply with any obligation to
<br />do so. If any action or proceeding is commenced that
<br />ehalf may, but is not required to, take any action that
<br />;d or paid by Lender for such purposes will then bear
<br />�der to the date of repayment by Trustor. All such
<br />: payable on demand; (B) be added to the balance of
<br />s to become due during either (1) the term of any
<br />� as a balloon payment which will be due and payable
<br />�. The rights provided for in this paragraph shall be in
<br />ount of any default. Any such action by Lender shall
<br />�erwise would have had.
<br />relating to ownership of �the Property are a part of this Deed of Trust;
<br />Title. Trustor warrants that: (a) Trustor hol s good and marketable title of re ord to the Property in fee simple, free and clear of all
<br />liens and encumbrances other than those set forth in the Real Property descrip ion or in the Existing Indebtedness section below or in
<br />any title insurance policy, title report, or final title opinion issued in favor of, a d accepted by, Lender in connection with this Deed of
<br />Trust, and (b) Trustor has the full right, pow r, and authority to execute and d liver this Deed of Trust to Lender.
<br />Defense of Title. Subject to the exception i the paragraph above, Trustor w rrants and will forever defend the title to the Property
<br />against the lawful claims of all persons. In the event any action or proceedi g is commenced that questions Trustor's title or the
<br />interest of Trustee or Lender under this De d of Trust, Trustor shalt defend he action at Trustor's expense. Trustor may be the
<br />nomina! party in such proceeding, but Lende sha�l be entitled to participate in he proceeding and to be represented in the proceeding
<br />by counsel of Lender's own choice, and Tr stor will deliver, or cause to be delivered, to Lender such instruments as Lender may
<br />request from time to time to permit sucfi part cipation.
<br />Compliance With Laws. Trustor warrants
<br />laws, ordinances, and regulations of govern
<br />Survival of Promises. All promises, agreen
<br />and delivery of this Deed of Trust, shall be
<br />Indebtedness is paid in fulL
<br />EXIStING INDEBTEDNESS. The following provis
<br />the Property and Trustor's us of the Property complies with all existing applicable
<br />at authorities.
<br />, and statements Trustor has ade in this Deed of Trust shall survive the execution
<br />inuing in nature and shall rem in in full force and effect until such time as Trustor's
<br />concerning Existing Indebtedn�ss are a part of this Deed of Trust:
<br />Existing Lien. The lien of this Deed of Tru t securing the Indebtedness may be secondary and inferior to an existing lien. Trustor
<br />expressly covenants and agrees to pay, or see to the payment of, the Exising Indebtedness and to prevent any default on such
<br />indebtedness, any default under the instrum nts evidencing such indebtedness or any default under any security documents for such
<br />indebtedness.
<br />No Modification. Trustor shatl not enter i to any agreement with the hol r of any mortgage, deed of trust, or other security
<br />agreement which has priority over this Dee of Trust by which that agreeme t is modified, amended, extended, or renewed without
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