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201210072
<br /> DEED OF TRUST
<br /> (Continued) Page 3
<br /> Duty to Protect. Trustor agrees neither to abandon or leave unattended the Property. Trustor shall do all other
<br /> acts, in addition to those acts set forth above in this section, which from the character and use of the Property are
<br /> reasonably necessary to protect and preserve the Property.
<br /> TAXES AND I.IENS. The following provisions relating to the taxes and 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 taxes, special taxes, assessments,
<br /> charges (including water and sewer), fines and 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 having priority over or equal to the interest of Lender under this Deed of
<br /> Trust, except for the lien of taxes and assessments not due and except as otherwise provided in this Deed of
<br /> Trust.
<br /> Right to Contest. Trustor may withhold payment of any tax, assessment, or claim in connection with a good faith
<br /> dispute over the obligation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or
<br /> is filed as a result of nonpayment, Trusior shall within fifteen (15) tlays after the Iien arises 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 su�cient corporate surety bond or other security satisfactory to Lender in an
<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 and Lender and shall satisfy
<br /> any adverse judgment before enforcement against the Property. Trustor shail name Lender as an additional obligee
<br /> under any surety bond furnished in the contest proceedings.
<br /> Evidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes
<br /> or assessments and shall authorize the appropriate governmental ofFlcial to deliver to Lender at any time a written
<br /> statement of the taxes and assessments against the Property.
<br /> Notice of Construction. Trustor shall notify Lender at least ffteen (15) days 6efore any work is commenced, any
<br /> services are fumished, or any materials are supplied to the PropeKy, if any mechanic's lien, materiaimen'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 /> improvementa .
<br /> PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of
<br /> Trust.
<br /> Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended
<br /> coverage endorsements on a replacement basis for the full insurable value covering all Improvements on the Real
<br /> Property in an amount su�cient to avoid application of any coinsurance clause, and with a standard mortgagee
<br /> clause in favor of Lender,together with such other hazard and liability insurance as Lender may reasonably require.
<br /> Policies shall be written in forcn, amounts, coverages and basis reasona6ly acceptable to Lender and issued by a
<br /> company or companies reasonabiy acceptable to �ender. Trustor, upon request of Lender, will deliver to Lender
<br /> from time to time the policies or certificates of insurance in form satisfactory to Lender, inciuding stipulations that
<br /> . coverages will not be cancelled or diminished without at least ten (10) days prior written notice to Lendec Each
<br /> insurance policy also shall include an endorsement providing that coverage in favor of�ender will not be impaired
<br /> in any way by any act, omission or default of Trustor or any other person. Should the Real Property be located in
<br /> an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area,
<br /> Trustor agrees to obtain and maintain Federal Flood Insurance, if available, for the full unpaid principal balance of
<br /> the loan and any prior liens on the property securing the loan, up to the maximum policy limits set under the
<br /> National Flood Insurance Program, or as othenvise required 6y Lender, and to maintain such insurance for the term
<br /> of the Ioan.
<br /> Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may
<br /> make proof of loss if Trusior fails to do so within ffteen (15) days of the casuaity. Whether or not Lender's
<br /> security is impaired, Lender may, at Lender's election, receive antl retain the proceeds of any insurance and apply
<br /> the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property, or the restoration
<br /> and repair of the Property. If Lender elects to apply the proceeds to restoration and repair, Trustor shall repair or
<br /> repiace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br /> satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost of
<br /> repair or restoration if Trustor is not in default under this Deed of Trust. Any proceeds which have not been
<br /> disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoration of
<br /> the Property shall be used first to pay any amount owing to Lender under this Deed of Trust, then to pay accrued
<br /> interest, and the remainder, if any, shall be applied to the principal baiance of the Indebtedness. If Lender holds
<br /> any proceeds after payment in full of the Indebtetlness, such proceeds shall be paid to Trustor as Trustor's
<br /> interests may appear.
<br /> LENDER'S EXPENDITURES. If Trustor fails (A) to keep the Property free of alI taxes, liens, security interests,
<br /> � encumbrances, and other daims, (B) to provide any required insurance on the Property, or (C) to make repairs to the
<br /> Property then Lender may do so. If any action or proceeding is commenced that would materially affect Lender's
<br /> interests in the Property, then Lender on Trustor's behalf may, but is not required to, take any action that Lender
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