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� ��14��597 � DEED �F TRUST Loan No: �a��73149 �Cantinued} Page 4 Nvtice o#Cvns�ructivn. Trus�or shall no�ify Lender at least fifteen ��5} days before any wa�k is cvmmenced, any ser�ices are furn�shed, or any materials are supplied to the Proper�y, if any me�hanic's lien, materialmen's lien, or , ofher lien could be asserted on accoun� of�he work, ser�i�es, vr ma�erials. Trustor wilI upon reques� of Lender furnish to Lender ad�ance assurances satisfacfivey fiv Lender that Trus�or can and wi�[ pay the cas-� ❑f such impro�ements. PR�PERTY DAMAGE �NSURANCE. The following pro�isians reiating ta insuring the Property are a part of�his Deed af Trust. Maintenan�e af lnsurance. Trustor shall procure and mainta�n policies ❑f fire insuran�e with s�andard ex�ended co�erage endorsements on a fair value basis �vr �he �ull insurable �alu� ca�ering aI� lmpro��ments ❑n the Real . Pr�perty in an am�unt sufficient to a�oid application af any coinsurance clause, and with a standard mortgagee clause in fa�or af Lender. Trustor shall als� procure and maintain com�prehensi�e general �iahility insurance in such �vWerage amounts as Lender may request wi�h Trus�ee and Lender being named as addi�ionai insureds �n such lia�ili�y insurance po�icies. Addi�ionally, Trustor shail rnaintain such other insurance, inc�uding bu� nat limited fio hazard, business interruptivn, and boiler insurance, as Lender may reasonably require. Pa��cies shal� �e writt�n in #arm, amoun�s, co�erages and basis reasvnahly acceptable fi� Lender and issued by a company ❑� campanies reasonably accep�table ta Lender. Trus�or, upon request ❑t Lender, will deii�er to Lender �rvm �ime �v fiime fihe pvjicies or�erti�icates ❑�insurance in�orm safiisfa�tary to Lender, including s�ipulati�ns �ha�co�erages will no�be cancelled ❑r diminished with�ut at least ten �1�} days priar wrrtten notice ta Lender. Each insurance po�icy als❑ shall include an endorsemen�pra�iding�ha�co�erage in fa��r a�Lender will not he impaired in any way hy any act, omission or de�aul� o�Trustor ar any other person. ShouId �the Real Property be located in an a�-ea designa�ed by �h� �3ire�tor a�th� Federal Emergency Managemen�Agen�y as a special�lood hazard area, Trustor agrees ta❑b�ain and mafn�ain Federai Fla�d lnsurance, s� a�ailable, �ar �he �fujl unpaid principal balance af the loan and any priar iiens ❑n the proper-�y securing the loan, up t� the maximum pvlicy limits se� under �he Na�ional Flood �nsurance Program, or as v�herwise required by Lender, and t❑ maintain such insurance for�he term af�he i�an. App[ica�ivn of Proceeds. Trustor shal[ promp�ly no�i#y Lender af any lass or damage to the Properfiy. Lender may make proo� of loss i� Trustor fails t� d❑ so wifihin fifteen ��5} days of �he casua�ty. Wh�the�r or no� Lender's security is impaired, Lender may, at Lender's �lecfiian, recei�e and retain �he prnceeds of any insuran�e and apply �he proceeds fi❑ �he reductian a�the inde�tedness, payment ❑� any lien a��ecting the Praperty, ❑r�he restoratEon and repa�r❑f the Property. 1f Lender e�ec�s �a apply�he proceeds to resta�ation and �epair, Trust�r shall repai� ��- replace the damaged or destroyed lmprovements in a manner satisfactory �v Lender. Lender shall, upvn satisfac�kory proo� o� such expenditure, pay ❑r reimburse Trus�ar fram the prac�eds �fo�r �he �-easonab�e cos� o� repair or restora�tion if Trustor is no� in defaul� under �h�s Deed of Trusfi. Any proceeds which ha�e not been disbursed v+rithin �80 days after the�r- receipt and which Lender has n�t cvmmit�ed tv the repair ❑r res�ora�ion v� the Property sha�� be used firs�to pay any amvunt❑wing�a Lender under�his Deed o�Trus�, �hen to pay accrued interes�, and the remainder, i� any, shall 1�e applied �o the principal balan�e-v�the jndeb�edness. I� Lender holds . any pr�Geeds af�er payment in �ull af �he lndebtedness, such prac�eds shall be paid to Trustor as T�-us�or's interests may appear. Cvmpiiance wi�h Existing Indeb�edness. During the period in which any Exis�ing Indehtedness des�rihed below is in effec�, compliance w;th �he insuran�e pra�isivns confiained in the instrument evidencing such Existing lndebfiedness shall cvnst�tute �vmpliance wi�h �he insurance pro��si�ns under this Deed of Trust, �kv the extent compliance with the �erms D��hf5 Deed of Trust wvuld constitu�e a duplication ❑f insuran�e requirement. lfi any prv�eeds from the �nsuran�e become payable ❑n loss, the pro�isions in�his Deed o�Trus�-�or di�isi�n ��F proc�eds shall apply❑nly�a that por�ion of�he proceeds no�payable�o�he holder��the Existing fndeb�edness. Trustvr's Report on lnsurance. Upon reques�of Lender, h�we�er nv� more fihan ❑nGe�a yea�, T�us�vr shall �urnish to Lender a repflrt on each exisfiing policy of insurance showing: �1} �he name of �he insurer; �2} the risks insured; �3} the amount of the policy; �4� �he pr�per�y insured, the fihen currenfi replacemen� �afue �f SUCh property, and the manner o�d�termining that�a[ue; and {5� �he expirativn dafie of the poEicy. Trus�ar sha[[, upon request o�Lender, ha�e an independen�appraiser sa�tis�actary to Lender determine the cash�alue replacement cos� o�the Property. LENDER'S E?CPEND�TURES. �fi any ac�ion or proceeding is cvmmen�ed fhat would ma�erially affec� Lender's in�erest in �he Praperty ❑r if Trustor fails �ko compfy with any prv�ision vf fihis Deed o�Trust ❑r any Related Dacuments, inc[uding but not limit�d to Trustor's fiailure to comply with any obligation �fl maintain Exfsfiing �ndebtedness in govd s�anding as required below, or�❑dis�harge.o�r pay when due any amoun�s T�-ustor is requ�red�❑discharge or pay under this Deed ofi Trust or any Relat�d ❑�cumen�s, Lender on Trustor's behaf�f may �but sha1� not be ❑bligat�d �a} �ake any actian tha� Lender deems apprapriat�, including bu� no� limited �v dischar�ing or paying afI taxes, liens, securifiy interes�s, encumhrances and other claims, a� any ttme le�ied or placed �n the Prvper�y and paying all cvs�s for insuring, � main�ain�ng and preser��ng �he Property. All such expenditures incurred or paid by Lender for such purpases will then laear interest at�he rate charged under�he Note #r�m the dafie �ncurred or pa�d by Lender�❑ the date of repaym�n�t by Trusfior. All such expenses will b�come a part of the Indeb�edness and, at Lender's option, wif� �A} he paya�le vn demand; �6� be added to the balance of the Na�e and be app�r�ioned among and be payable wi�h any ins�alEment payments �a becvme due during either 4'1� �he term of any appl�cable insuran�e pvlicy; or {2� �he remain�ng term ❑f �he No�e; or �C} be trea�ed as a hal�oon paymenfi►nrhtch wii! be due and payable a��he Note's ma�urity. The Deed ❑f Trus� also wil� secure payment of �hese amoun�s. Such right sha�l be tn addition �❑ a!! v�her rights and remedies to �rvhich Lend�r may b�enti�led upon Defauft.