|
20120641�
<br />� r ` ' � DEED OF TRUST
<br />Loan No: 101255392 (Continued) Page 3
<br />such law, ordinance, or regulation and withhold compliance during eny proceeding, includ(ng appropriate appeals,
<br />so long as Trustor hes notified Lender in writing prior to doing so end so long as, in Lender's sole opinion, Lender's
<br />interests in the Property are not jeopardized. Lender mey require Trustor to post adequate security or a surety
<br />bond, reasonably setisfactory to Lender, to protect Lender's interest.
<br />Duty to Protect. Trustor agrees neither to ebandon or leave unattended the Property. Trustor shall do all other
<br />acts, in addition to those acts set forth above in ihis section, which from the character and use of the Property are
<br />reasonably necessary to protect and preserve the Property.
<br />DUE ON SALE - CONSENT BY LENDER. Lender may, et Lender's option, declare immediately due and payeble all sums
<br />secured by this Deed of Trust upon the sale or transfer, without Lender's prior written consent, of all or eny part of the
<br />Real Property, or any interest in the Real Property. A"ssle or trensfer" means the conveyance of Real Property or any
<br />right, title or interest in the Real Property; whether legal, beneficial or equitable; whether voluntary or involuntary;
<br />whether by outright sale, deed, instellment sele contract, lend contract, contract for deed, leasehold interest with a
<br />term greater than three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficial interest in
<br />or to eny land trust holding title to the Real Property, or by any other method of conveyance of en interest in the Real
<br />Property. However, this option shall not be exercised by Lender if such exercise is prohibited by federel law or by
<br />Nebreske lew.
<br />TAXES AND LIENS. The following provisions relating to the taxes end liens on the Property are part of this Deed of
<br />Trust:
<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all texes, special taxes, assessments,
<br />charges (including weter and sewerl, fines end impositions levied against or on account of the Property, and shall
<br />pay when due all claims for work done on or for services rendered or material furnished to the Property. Trustor
<br />shall maintain the Property free of all liens heving priority over or equal to the interest of Lender under this Deed of
<br />Trust, except for the lien of taxes and essessments not due and except es othenivise provided in this Deed of
<br />Trust.
<br />Right to Corrtest. Trustor may withhold payment of any tex, assessment, or claim in connection with e good feith
<br />dispute over the obligation to pay, so long as Lender's interest in the Property is not jeoperdized. If a lien arises or
<br />is filed as e result of nonpeyment, Trustor ahall within fifteen (15) days efter the lien erises or, if a lien is filed,
<br />within fifteen (15) days after Trustor has notice of the filing, secure the discharge of the lien, or if requested by
<br />Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in en
<br />amount sufficient to discharge the lien plus any costs and attorneys' fees, or other charges that could accrue as a
<br />result of a foreclosure or sale under the lien. In any contest, Trustor shall defend itself end Lender and shall setisfy
<br />any adverse judgment before enforcement against the Property. Trustor shall name Lender as an additional obligee
<br />under eny surety bond furnished in the conteat proceedfngs.
<br />Evidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of peyment of the taxes
<br />or assessments end shall authorize the appropriate governmental official to deliver to Lender et any time a written
<br />statement of the taxes end essessments against the Property.
<br />Notice of Construction. Trustor ahall notify Lender et least fifteen (15) days before any work is commenced, any
<br />services a�e furnished, or eny materials are supplied to the Property, if eny mechanic's lien, materialmen's lien, or
<br />other lien could be asserted on account of the work, services, or materials. Trustor will upon request of Lender
<br />furnish to Lender advance assurances satisfactory to Lender that Trustor can and will pay the cost of such
<br />improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are e pert of this Deed of
<br />Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of flre insurance with standard extended
<br />coverage endorsements on e feir value basis for the full insurable value covering alI Improvements on the Real
<br />Property fn an amount suffic(ent to avoid application of eny coinsurance clause, and with a standerd mortgegee
<br />clause in fevor of Lender. Trustor shall also procure and maintain comprehensive generel liability insurance in such
<br />coverage amounts as Lender mey request with Trustee and Lender being named as additional insureds in such
<br />liability insurance policies. Additionally, Trustor shall maintain such other insurance, including but not limited to
<br />hazard, business interruption, end boiler insurance, as Lender may reasonebly require. Policies shall be written in
<br />form, amounts, coverages and basis reasonably acceptable to Lender end issued by a company or companies
<br />reasonably accepteble to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the
<br />policies or certificates of insurance in form satisfactory to Lender, including stipulations that coverages will not be
<br />cancelled or diminished without at least ten (10) days prior written notice to Lender. Each insurance policy also
<br />shall include an endorsement providing that coverage in fevor of Lender will not be impaired in eny wey by any act,
<br />omission or default of Trustor or any other person. Should the Real Property be located in an area designeted by
<br />the Director of the Federal Emergency Management Agency as a speciel flood hazard area, Trustor agrees to obtain
<br />and meintain Federal Flood Insurance, if available, for the full unpeid principal balance of the loen and any prior
<br />liens on the property securing the loan, up to the meximum policy limits set under the National Flood Insurance
<br />Program, or as otherwise required by Lender, and to maintain such insurance for the term of the loan.
<br />Application of Proceeds. Trustor shall promptly notify Lender of eny loss or damage to the Property. Lender may
<br />make proof of loss if Trustor fails to do so within fifteen (15) days of the cesualty. Whether or not Lender's
<br />
|