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DE (Con�t nu tlj 2 0� 2 017 3 S page 3
<br />enforcement against the Property. Trustor shall name Lender as an additlonal obligee under any surety bond furnished
<br />in the cont�t proceedings.
<br />Evldence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or
<br />assessments and shall authoriae the appropriate governmentat offlcial to delfver to Lender at any time a written statement
<br />of the taxes and assessments against the Property<
<br />Notice of Constructlon. Trustor shall notify .Lender at least flfteen (15) days before any work is commenced, any
<br />services are furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other
<br />lien could be asserted on account of the work, services, or materials. Trustor will upon request of Lender furnish to
<br />Lender advance assurances satisfactory to Lender that Trustor can and will pay the cost of such improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisfons relating to insuring the Property are a part of this Deed of
<br />Trust.
<br />Maintenance of Insurance. Trustor shall procure and mafntain policies of fire insurance with standard extended
<br />coverage endorsements on a fair value basis for the full insurable value covering all Improvements on the Real Property
<br />in an amount sufficient to avoid application of any coinsurance clause, and with a standard mortgagee clause in favor of
<br />Lender, together with such other hazard and Ilability insurance as Lender may reasonably requfre. Policies shall be
<br />written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies
<br />reasonably acceptable to Lender. All policies shall provide that the policies shall not be invalidated by any waiver of the
<br />�ight of subrogatlon by any insured and shall provide that the carrier shall have no right to be subrogated to Lender.
<br />Trustor, upon request of Lender, will deliver to Lender from tlme to time the policies or certlflcates of insurance in form
<br />�tlsfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at least ten (10)
<br />days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in
<br />favor of Lender will not be impaired in any way by any act, omission or default of Trustor or any other person. Should
<br />the Real Property be located in an area designated by the Director of the Federal Emergency Management Agency as a
<br />special flood hazard area, Trustor agrees to obtain and maintafn Federal Flood Insurance, if available, within 45 days
<br />after notice is given by Lender that the Property is located in a special flood hazard area, for the maximum amount of
<br />Trustor's credit Iine and the full unpaid principal balance of any prior liens on the property securing the loan, up to the
<br />maximum policy Iimits set under the National Flood Insurance Program, or as otherwise required by Lender, and to
<br />maintain such insurance for the term of the loan.
<br />Appllcatlon oi Proceeds. Trustor shall promptly notlfy Lender of any loss or damage to the Property. Lender may
<br />make proof of loss if Trustor fails to do so within flfteen (15) days of the casualty. Whether or not Lender's security is
<br />impaired, Lender may, at Lender's election, receive and retain the proceeds of any insurance and apply the proceeds to
<br />the reducHon of the Indebtedness, payment of any lien affectlng the Property, or the restoration and repair of the
<br />Property. If Lender elects to apply the pr�eeds to restaratlon and repair, Trustor shall repair or replace the damaged or
<br />destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon satisfactory proof of such expenditure,
<br />pay or reimburse Trustor from the proceeds for the reasonable cost of repair or restoration if Trustor is not in default
<br />under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their receipt and which
<br />Lender has not committed to the repair or restoratlon of the Property shall be used flrst to pay any amount owing to
<br />Lender under this Deed of Trust, then to pay accrued interest, and the remainder, if any, shall be applied to the principal
<br />balance of the Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds
<br />shall be paid to Trustor as Trustor's interests may appear.
<br />Unexpired Insurance at Sele. Any unexpired insurance shall inure to the benefit of, and pass to, the purchaser of the
<br />Property covered by this Deed of Trust at any hustee's sale or other sale held under the provisions of this Deed of Trust,
<br />or at any foreclosure sale of such Properly.
<br />Compllance with Existing Indebtedness. During the perlod in which any Existlng Indebtedness described below is in
<br />effect, compliance with the insurance provisions contained in the instrument evidencing such Existing indebtedness shall
<br />constitute compliance with the insurance provisions under this Deed of Trust, to the extent compliance with the terms of
<br />this Deed of Trust would constitute a duplication of insurance requirement. If any proceeds from the insurance become
<br />payable on loss, the provisions in this Deed of Trust for division of proc�ds shall apply only to that portion of the
<br />proceeds not payable to the holder of the Existlng Indebtedness.
<br />LENDER'S D(PENDITUFiES. If Trustor faits (A) to keep the Property free of all ta�ces, liens, security interests,
<br />encumbrances, and other claims, (B) to provide any required insurance on the Property, (C) to make repairs to the
<br />Properiy or to comply with any obligatlon to maintain F�cisting Indebtedness in good standing as required below, then Lender
<br />may do so. If any actlon or pra�eding is commenced that would materially aff�t Lender's interests in the Property, then
<br />Lender on Trustor's behalf may, but is not required to, take any actlon that Lender believes to be appropriate to protect
<br />Lender's interests. All expenses incurred or paid by Lender for such purposes will then bear interest at the rate charged
<br />under the Credit Agreement irom the date incurred or paid by Lender to the date of repayment by Trustor. All such expenses
<br />will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the
<br />balance of the Credit Agreement and be appordoned among and be payable with any installment payments to become due
<br />during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Credit Agreement; or (C) be
<br />treated as a balloon payment which wfll be due and payable at the Credit AgreemenYs maturity. The Deed of Trust also will
<br />secure payment of these amounts. The rights provided for in this paragraph shatl be in addition to any other rights or any
<br />remedies to which Lender may be entitled on account of any default. Any such acHon by Lender shall not be construed as
<br />curing the default so as to bar Lender from any remedy that it otherwise would have had.
<br />WARRAN7Y; DEFENSE OF TITLE. The following provisfons relating to ownership of the Property are a part of this Deed of
<br />Trust:
<br />Tltle. �'rustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple, free and
<br />clear of all Ilens and encumbrances other than those set forth in the Real Property description or in the Existing
<br />Indebtedn�s sectlon below or in any title insurance policy, title report, or flnal title opinion issued in favor of, and
<br />acxepted by, Lender in connectlon with this Deed of Trust, and (b) Trustor has the full right, power, and authori4y to
<br />exeeute and deliver this. Deed of Trust to Lender.
<br />Defense of Tltle. Subj�t to the exception in the paragraph above, Trustor warrants and will forever defend the title to
<br />the Property agafnst the lawful claims of all persons. In the event any action or proceeding is commenced that questions
<br />Trustor's title or the interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the action at Trustor's
<br />expense. Trustor may be the nominal party in such proceeding, but Lender shall be entitled to participate in the
<br />proceeding and to be represented in the proceedfng by counsel of Lender's own choice, and Trustor will deliver, or
<br />cause to be delivered, to Lender such instruments as Lender may request from time to time to permit such participation.
<br />Compllance Wlth Laws. Trustor warrants that the Property and Trustor's use of the Properiy compUes with all existing
<br />applicable laws, ordinances, and regulations of governmental authorffles.
<br />Survlvel ot Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shall sunrive
<br />the execution and delivery of this Deed of Trust, shall be continuing in nature and shall remain in full force and effect unHl
<br />such t(me as TrUstor's Indebtedness is paid in full.
<br />EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Deed of Trust:
<br />bdsting Llen. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferlor to the lien
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