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201107948 DEED OF TRUST Loan No: 10000287 (Continu0d) Page 3 the proceeds to the reduction of the Indebtedness,payment of any lien affecting the Property,or the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and repair,Trustor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to �ender. Lender shall, upon satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost of repair or restoration ifi Trustor is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their receipY and which Lender has not committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender under this Deed of Trust,then to pay accrued interest,and the remainder, if any, shall be applied to the principal balance of the Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as Trustor's interests may appear.. Compliance with Existing Indebtedness. During the period in which any Existing Indebtedness described below is in effect, compliance with the insurance provisions contained in the instrument evidencing such F�cisting � Indebtedness shall constitute compliance wiih the insurance provisions under this Deed of Trust, to the extent compliance with the terms of this Deed of Trust wouid constitute a duplication of insurance requirement. If any proceeds from the insurance become paya6le on loss,the provisions in this Deed of Trust for division of proceeds shall apply only to that portion of the proceeds not payable to the holder of the Existing Inde6tedness. LENDER'S EXPENDITURES. If Trustor falls (A) to keep the Property firee of all taxes, liens, security intereSts, encumbrances,and other claims, (B) to provide any required insurance on the Property, (C) to make repairs to tRe Property or to comply with any obligation to maintain F�cisting IndebYedness in good standing as required below,then Lender may do so. If any action or proceeding is commenced that would materially affect Lender's interests in the Property, then Lender on Trustor's behalf may, but is not required to, take any action that Lender believes to be appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes wili then bear interest a2 the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Trustor. All such expenses will become a part of the Indebtedness and, at Lender's option,will (q} be payable on demand; (B) be added to the balance of the Note and be apportioned among and he payable with any instaliment payments to become due during either {�� the term of any applicable insurance policy;or (2} the remaining term of the Note;or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of Trust also wi[I secure payment of these amounts. The rights provided for in this paragraph shail be in addition to any other rights or any remedies to which Lender may be entitled on account of any default. Any such action by Lender shall not be construed as curing the default so as m bar Lender from any remedy that it otherwise would have fiad. WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust; Title�. Trustor warrants that: (a)Trustor holds good and marketable title of record to the Property in fee simpie, free and clear of all liens and encumbrences other than those set forth in the Real Property description or in the Existing Indebiedness section below o�in any title insurance policy,title report,or final title opinion issued in favor of,and accepted by, Lender in connection with this Deed of Trust;and (b)Trustor has the fuil right,power,and authority to execute and deliver this Deed of Trust to Lender. Defense of Title. Subject to the exception in the paragraph above,Trustor warrants and will forever defend the . title to the Property against the lawful ciaims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the i�terest of Trustee or Lender under this Deed of Trust,Trustor shall defend the action at Trustor's expense. Trustor may be the nominal party in such proceeding,but Lender shall be entitled to participate in tHe proceeding and to be represented in the proceeding by counsel of Lender's own choice, and Trustor will deliver,or cause to tre delivered,to Lender such instruments as Lender may request from time to time to permit suoh participation. Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all e�sting applicable laws,ordinances,and regulations of governmental authorities. � Survival of Promises. Ali promises, agreements, and statements Trustor has made in this Deed of Trust shall survive the execution and delivery of this Deed of Trust,shall be continuing in natuie and shall remain in full force and effect until such time as Trustor's I�debtedness is paid in full. EXISTING INDEBTEDNESS. The fiollowing provisions concerning Existing Indebtedness are a part of this Deed of Trust: Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to an existing lien. Trustor expressly covenants and agrees to pay,or see to the payment of�,the Existing Indebtedness and to prevent any defa�lt on such indebtedness,any default under the insiruments evidencing such indebtedness, or any default under any security documents for such indebtedness. No Mod"rfication. Trustor shall not enter into any agreement with the holder of any mortgage, deed of trust, or other security agreement which has priority over this Deed of Trust by which that agreement is modified, amended, extended; or renewed without the�prior written consent of Lender. Trustor shall neither request nor accept any future advances under any such security agreement without the prior written consent of Lender. CONDEMNATION. The foilowing provisions relating to condemnation proceedings are a part of this Deed of Trust:: Proceedings. If any proceedi�ng in condemnation is filed, Trustor shall promptly notify Lender in writing, and Trustor shall promptly take such steps as may be necessary to defend the action and obtain the award. Trustor may be the nominal party in such proceeding,but Lender shall be entitled to participate in the proceeding and 4o be represented in the proceeding by counsel of its own choice, and Trusxor will deliver or cause to be delivered to Lender such instruments and documentation as may 6e requesfed by Lender from time to time to permit such participation. Application of Net Proceeds. If all or any part of the Property is condemned 6y eminent domain proceedings or tiy � any proceeding or purchase in lieu of condemnation,Lender may at its election require that all or any portion of the net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all reasonabie costs,expenses,and attomeys'fees incurred by Trustee or Lender in connection with the condemnation. . IMPOSITION OF TAXES,P�ES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The folfowing provisions relating to governmentaltaxes,fees and charges are a part of this Deed of Trust: Curtent Taues,Fees and Charges. Upon request by Lendee,Trustor shall execute such documents in addition m this Deed of Trust and take whatever other action is requested by Lender to perfect and coniinue Lender's lien on the Real Property. T�ustor shall reimburse Lender for all taxes, as�.described below,together with all expenses incurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes, fees, documentary stamps,and other charges for recording or registering this Deed of Trust. Taxes. The following shall constitute taxes to which this section applies: U) a specific tax upon this type of Deed of Trust or upon�all or any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Trustor which Trustor is authorized or required.to deduct from paymenfs on the Indebtedness secured by this type of Deed of Trust; (3) a.tax on this type of Deed of Trust chargeable against the Lender or the holder of the Note; and (4) a speeific tax on all or any portion of the Indebtedness or on payments of principal and inierest made by Trustor.