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201108760
<br />DEED OF TRUST
<br />Loan No: 101245912 (Continued) Page 4
<br />any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as Trustor's
<br />interests may appear.
<br />Trustors Report on Insurance. Upon request of Lender, however not more than once a year, Tn.istor shall fumish
<br />to Lender a report on each exist(ng policy of insurance showing: (1) the name of the insurer; (2) the risks
<br />(nsured; (3) the amount of the policy; (4) the property insured, the then current replacement value of such
<br />property, and the manner of determining that value; and (5) the expfration date of the policy. Trustor shall, upon
<br />request of Lender, have an independent appraiser satlsfactory to Lender determine the cash value replacement cost
<br />of the Properly.
<br />LENDER'S IXPENDITURES. If any action or pra�eeding is commenc�d that would materially affect Lenders interest in
<br />the Property or if Trustor fails to comply with any provision of this Deed of Tnrst or any Related Docurrierrts, induding
<br />but not limfted to Trustor's failure to discharge or pay when due any amourrts Trustor is required to discharge or pay
<br />under this Deed of Trust or any Related Dawments, Lender on Trustor's behalf may (but shall not be obligffied to) take
<br />any ac�on that Lender deems appropriate, induding but not limited to discharging or paying all taxes, liens, �rity
<br />interests, encumbranc�es and other clairr�, at any Ume levfed or placed on the F'�operty ar�d paying all c�sts for insuring,
<br />mairitaining and preserving the Properly. All such expenditures incurred or paid by Lender for such purposes will then
<br />bear interest at the rate charged under the Note from the date incurred or �id by Lender to the date of repaymerrt by
<br />Trustor. All such exper�ses will beoome a part of the Indebtedness and, at Lenders option, will (A) be �yable on
<br />demand; (B) be added to the balanc�e of the Note artd be apportioned among arM be payabte with any installmerrt
<br />paymerrts to beoome due during either (1) the term of any appltcable insurance pollcy; or (2) the remaining term of
<br />the Note; or (C) be treated as a balloon payment which wfll be due and �yable at the Note's maturity. The Deed of
<br />Trust also will secure paymerrt of these amourrts. Such right shall be in addi�on to all other rights and remedies to
<br />which Lender may be entltled upon Default.
<br />WARRANTY; DEFENSE OF TITI..E. The following provisions relating to ownership of the Property are a part of this Deed
<br />of Trust:
<br />Title. Trustor warrants that: (a) Tnistor holds good and marketable title of record to the Properly in fee simple,
<br />free and clear of all Ifens and encumbrances other than those set forth in the Real Properly description or in eny
<br />tftle insurance policy, title report, or final title opinion issued in favor of, and axepted by, Lender in connectfon
<br />with thfs Deed of Trust, and (b) Trustor has the full right, power, and authority to execute and delNer this Deed of
<br />Trust to Lender.
<br />Defense of Title. SubJect to the exceptlon in the paragraph above, Trustor warrants and will forever defend the
<br />title to the Property agafnst the lawful claims of all persons. In the event any actlon or proceeding is commenced
<br />that questions Trustor's title or the interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the
<br />actlon at Trustor's expense. Trustor may be the nominal party in such proceeding, but Lendar shall be entitled to
<br />participate in the proceeding and to be represented in the proceeding by counsel of Lenders own choice, and
<br />Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from Ume to tlme
<br />to permit such participatlon.
<br />Compllance With Laws. Tnrstor warrants that the Property and Trustor's use of the Property complies with alt
<br />existing applicable laws, ordinances, and regulations of govemmental authorities.
<br />Survival of Representations and Warranties. All representations, warranties, and agr�ments made by Trustor (n
<br />this Deed of Trust shall survive the execution and delNery of this Dced of Trust, shall be conUnuing in nature, and
<br />shall remain in full force artd effect unt(I such t(me as Trustor's Indebtedness shall be paid in full.
<br />CONDEMNATION. The following provislons relaUng to condemnation proceedings are a part of this Deed of Trust:
<br />Proceedings. If any proc�eding in c�ondemnation is flled, Trustor shall prompUy notify Lender in writlng, and
<br />Trustor shall prompUy take such steps as may be necessary to defend the action and obta(n the award. Trustor
<br />rrmy be the nominal parly in such proceeding, but Lender shall be entitl� to participate in the prooeeding and to be
<br />represerrted in the proc�eding by �unsel of its own choice, ar�d Trustor will deliver or cause to be delivered to
<br />Lender such instrumerits and documentatlon as may be requested by Lerider from Ume to time to permft such
<br />participation.
<br />Application of Net Proceeds. If all or any part of the Property is condemned by eminerrt dorr�in prooeedings or by
<br />any prooeeding or purchase in Ileu of c�ondemna�on, Lender may at its eleclion require that all or any portion of the
<br />net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Properly. The net
<br />prooeeds of the award sMall mean the award after payment of all reasorable c�sts, e�er�ses, and attomeys' fees
<br />incurred by Trustee or Lender in connectfon with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relaUng
<br />to govemmental taxes, fees and charges are a part of this Deed of Trust:
<br />Cumnt Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addition to
<br />this Deed of Trust and take whatever other actlon is requested by Lender to pertect and continue Lender's lien on
<br />the Real Property. Trustor shall reimburse Lender for ell taxes, as described below, together with all expenses
<br />incurred in recording, pertecting or cont(nuing this Deed of Trust, includfng without Iimitation all taxes, fees,
<br />documentary stamps, and other charges for recording or registering this Deed of Trust.
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