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�01iOS47�
<br />DEED 4F TRUST
<br />Laan Na: 9009 (Cantinued) Page 4
<br />coverage amounts as Lender may request with Tiustee and Lander being named as additional insureds in such
<br />liability +nsurarrce palicies. Additianally, 7rusYor shap mainiain such other i»surance, inctuding but not limited to
<br />hazard, business intern.iption, end boiler insurance, as Lender may reasonably requfre. Policies shall be written in
<br />1orm, amounts, coverages and besis reasortabfy acceptabte ;o Lender end issued by s company or campanies
<br />reasonabiy acceptabte to Lender. Trustor, upon request of lender, will daliver to Lender from time to time Yhe
<br />policies or certificates of insurance in farm satisfaciory ta Le�der, including stipulatio�s thaf coverages witi not be
<br />cancellad or diminished wltl�0ut at least ten (10} days prior writEen notice to Lender. Each insurance policy also
<br />shalt include an endorsement providing that cdverage in fevor of Lender wiil not be impaired in any way by any act,
<br />nmission or default of Trustor or sny o;her persor�. Should the Rea1 Property ba locaisd in an area designated by
<br />the 4irector of the Federei Emergency Management Agency es a special flood hazard area. Trustar agrees ta obtain
<br />and meintain Federal Flood Insurance, ii availabfe. within 45 days after notice is given by Lertder that the Praperty
<br />is located in a special ilood hazard area, for the full unpaid principai balance of [he loan and any prior liens on the
<br />Aroperty securing the loan, up to the maximum palicy timits set under the National Flood Insurance Program, or as
<br />atherwise raquired by Lendar. and to maintain such instrrance for the term of the loan.
<br />AppRcation of Praceeds. Trustor shafl promptly notify Lender af any loss or damage to ths Prqperty. lender may
<br />make proot of lass if Trustor faifis to do so within fiiteen (16j days of the casualty, Whether or not �ender's
<br />security is lmpafred. lertder may, at Lender's eiociian, receive and retain tE�e proceads of any insurance and apply
<br />the proceeds to the reduction of the Sndebtedness, paymeni of any iien alfecting ths Property, or the restoration
<br />end repair of tfis Property. f# Lender elects to appty the proceeds ta restoratian and repair, Trusior shall repair or
<br />replace the damaged or destroyed 4mprovements in a manner satisfactory to Lender. i,ender shait, upon
<br />satisfaotory proot of such expenditure, pay or reimburse Trustor from the proceeds for the reasonaBle cost of
<br />repair or restoration ii Trustor is not in defaui# under this Deed of Trust, Any proceeds which have not been
<br />disbursed within 180 days atter their receipt and which Lander has not committed to the repair or restoration of
<br />the Property shalt be used first To pay any amount awing to Lender under thts Deed ot Trust, the� to pay accrued
<br />interest, and the remainder, it any, shall be applied to the principai balance of ihe {ndebted�ess. I# Lender holds
<br />any proceeds after payment in fuff oi the fndebtedness. such proceeds shall be paid to Trustor as 7rusYor's
<br />interests may appear.
<br />7rustor's Repart on Insurance. Upon requesi of Cender, however not rnore than once a year, 'Frustor shall turnish
<br />to Lender a report on each existing policy of insurance skowing: �1 J the name of the insurer; (2f the risks
<br />insur9d; {3} ths amount of the policy; (4j the property insured, the then current replacsment value of such
<br />proporiy, and the manner of dete�mining that value; and (5} the expiration date of Yhe poiicy. Trustor shall, upon
<br />request of Lender, have an independent appraissr saiisfaciory to I.ender determine the cash value rsplacement cost
<br />af the Aroperty.
<br />LENDBR'S EXPENplTURES. Ii any action or proceeding is commenced that woutd materially affeCt lender's interest in
<br />the Property or +f Trustar iails to compty wlth any provision of this Deed of Trust or any Related Documents, inCluding
<br />bui not limited to Trustor's faiCure to discharge pr pay whan due any amounts Trustor is required to discharge or pay
<br />under this Deed of Trust or any Related Documents, Lender on 7rusto�'s behelf may (but shalt not be obligated to} take
<br />any aotion that Lendar deems appropriate, inctuding but not limited to diseharging or paying all taxes, Eiens, security
<br />interests, encurnbrenCes and otiter claims, at any time Icavied or placed on the Property and paying alI costs for insurinq,
<br />maintaining and preserving the Property. A11 such expenditures incurred or �aid by Lender tnr such �urposes will then
<br />be9r interest at the rata charged under the Note or at the highest rate authoriaed by law, froln the date incurred or peid
<br />by Lender to the date ot repayment by 7rustor. All &uch expensas wil! become � part of the Indebtedness and, et
<br />Lender's option, will {A) be peyahle on demand: (6} be added to the balance of the tVote and be apportioned among
<br />and be payeble with any instaflment payments io become due during either (7 � the term ot arty applicable insurance
<br />policy; or {2} the remaining term of the IVOte; or (C) be treated as e balioon payment whtich will be due and payable at
<br />the lVote's maturity. The Oeed of Trust aiso wi►i secure payment of thesa amounts. Such riglit shati be in addition to
<br />aN nther rights and remedies to which Lender mey be entitled upon De(ault.
<br />WARRANTY; DEPEIVSE OF TITI.E. The foI[owing provisions relatinq to ownership oi the Property a�e a part of this Deed
<br />of Trust:
<br />7itle. Trustor warrants that: (a) 7rustor holds good and marketab(e titte of reoord Yo the Property in fee simple,
<br />free and clear of ali liens and encumbrances other than those set forth in the Real Property description or in any
<br />iitle insurance policy, title report, or final title opinion issued in tavor of, and accepted by, Lender in connection
<br />with this Deed of 7rust. and (b} Trustor has tha futl right, power, end authority to execute and deliver this Deed of
<br />Trust io Lender.
<br />Defense of Titie. Subject to the exception in the paragraph above, 7rustor warrants and will forever defend the
<br />t+tle to tha Property against the tewfu! claims of a1) persons. tn the event any action or praceeding is commenced
<br />that questions Trustor's tiile or the interest of 7�ustes or Lentler under this Deed of Trust, Trustor shaii defend tho
<br />action at Trustor's expense. T�usior may be th� naminal party in sucl� proceedinr�, but Lender shal! be entitlod to
<br />participate in the proceoding and to be represented in the proceeding by counset oi lender's own cltoice, and
<br />Trustor will deliver, or cause Lo be delivered, to Lender such instruments as Lender may request from tirne to time
<br />io permii such participati0n.
<br />Compliance With Laws. Trustor warrants Yhat the Rroperiy and 7rustor's use of the Praperty complies with all
<br />existing applicable taws, ordinar�ces, and regulations of govetnmental autharittes.
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