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��14�1�74
<br /> oEEn oF T�usT
<br /> �C[]n�i n u�d} Page 3
<br /> Payment. Trustor shall pay when due�and in all e�en�s privr to definquency}all�axes,special�axes, assessments,
<br /> charges �including wate�and sewer}, fnes and impasitions �evied agains�or on accoun#of the Praperty, and sha�l
<br /> pay when due all claims �or work dvne on or for serv�ces render�d ar ma#erial furnished to the Proper�y. Trus�or
<br /> shail mafntain the Proper�y free of a�l liens ha�ing priority o�er or equa(to#he interesf of Lende�-under this ❑eed�f
<br /> Trust, �xcept for �he lien of taxes and assessmen�s no� due, except fa� the Exisfing lndebtedness referred �o
<br /> belaw, and except as other►rvise pro�ided in this Deed of Trust.
<br /> Right to Cantest. Trustar may withhold payment�f any tax, ass�ssmen#, ar claim in connection with a go�d�aith
<br /> dispu�e a�er the obligation to pay, so long as Lender's interest in the Properky is not jeapardized. if a lien arises ar
<br /> is f€led as a result o�nonpayment, Trustor shall wi�h�n fifteen (1�} days after the fien arises ar, if a lien �s fled,
<br /> within ffteen �'�5} days a�#er Trus�or has notice vf#he f I�ng, secure �he dfscharge o�the lien, ar if re�uested by
<br /> Lender, depasit with Lender cash or a sufficient corporate surety bond or other securi�y sa�isfactory to Lender in an
<br /> amount sufficient tfl discharge�he lien p�us any costs and at�arneys'fees, or other charges that could accrue as a
<br /> result of a forec�osure or sale under fhe lien. In any cantest, Trustor sha11 defend itsel�and Lende�and shall s�tisfy
<br /> any ad�erse judgment�e�ore enforcemen�agains�the Property. Trus�ar sha[I name Lender as an addit�ona�abligee
<br /> under any surety bond�'urnished in the contest proceedings.
<br /> E�id�nce ofi Payment. Trustar shall upan demand furnish tv Lender satisfa�tory e�idence of payment af�he taxes
<br /> or a�sessments and shall authoriz�the appropria#e�overnmental off�cia[to deli�er tv Lender at any time a wri�ten
<br /> statsment�f the taxes and assessmen�s against�he Properky.
<br /> Notice o�F Constru�tion. Trustor shal{ no�ify Lender at�east fifteen �'1�} days befa�e any work is commen�ed, any
<br /> services are furnished, or any materials are supplied ta th� Property, if any mechanic's lien, materi�lmen's lien, ❑r
<br /> other lien could be asserted an account of�he wo�k, services, or materials. Trustar will upon request vf Lender
<br /> �urnish to Lender ad�ance assuran�es s�tisfa�tory �o Lender fhat Trustar �an and will pay the cast af such
<br /> impro�emen�s.
<br /> PR�PERTY DAMAGE INS�RANCE. The follawing pro�isions relat�ng�a insuring the Property are a part o�this Deed❑�
<br /> T�u s�.
<br /> I�aintenance of Insurance. Trustar sha[I procure and maintain policies of fire �nsurance wi�h standard extended
<br /> co�erage endorsements on a replac�men� basis �ar the �ull insurable value co�ering all lmpro�emen�s on the Real
<br /> Property in an amoun� sufficient fo a�oid appl�ca#ion v�any cainsurance c�ause, and wi�h a s#andard mor�gagee
<br /> clause in fa�or of Lender,together with such o#her hazard and�iabil�ty insurance as Lender may reasonahly requ�re.
<br /> Pol�cies shall be w�itten in fvrm, amaunts, ca�erages and basis reasonably acceptable to Lender and issued by a
<br /> company or companies reasonably acceptable to Lender. Trustor, upon request o�F Lender, wi�! deli�er to Lender
<br /> from time�v time the policies or certifcates vf insurance in form satisfactory ta Lender, including stipulation�that
<br /> co�erages will not b� canceiled or diminished without at least ten �'14} days prior written notice to Lender. Each
<br /> insurance policy alsa shall in�lude an endorsemen�pr�vi�ing tha�co��rage in fa�ar of Lender wi�l not be impa�r-ed
<br /> in any way by any act, amission ar default of Trus#or or any other person. Should the Real Pr�per�y be located in
<br /> an area designa��d by#he Director o�the Federal Emergency Management Agency as a special flood haza�d area,
<br /> Trustor agrees fo obfain and main�ain Federal Fload Insurance, if a�ailable, for the maximum amaunt�f Trustor's
<br /> �redi� line and the full unpaid principa! ba�ance o� any prior liens on the property securing the I�an, up to the
<br /> maximum poli�y limits set under the Nationa! Flood [nsurance Pragram, or as otherwise required by Lend�r, and�o
<br /> main�ain such insurance�ar�he term of the Ioan.
<br /> Appii�ation vf Proceeds. Trustor shafl pramp#ly no�ify Lender of any loss flr damage to the Property. Lender may
<br /> make praa� af �oss if Trustor �ails to d❑ s� within f�teen ��5} days of#he �asualty. Vllhether or not Lender's
<br /> security is impa�red, Lender may, a� Lender's ele�tion, recei�e and re�ain the p�oceeds vf any insurance and apply
<br /> the proceeds to �he reduction of the lndeb#edness, payment o�any lien affecting the Proper�y, or th� restorafion
<br /> and repair of the Property. If Lender ele�ts to apply the proceeds to restorat�on and repair, Trustor shall repa�r or
<br /> replace the damaged ❑r destroyed Impravements in a manner satisfactory tv Lende�. Lender shall, upan
<br /> sa�isfa�tory proof of such expenditure, pay or reimbu�-se Trus#vr from the proceeds for �he reasonable cost o�
<br /> repair or restoration if Trustor is no# in default unde� this Deed of Trust. Any proceeds which ha�e not been
<br /> disbursed within '18Q days a#�er�he�r receipt and which Lender has not committed �v the repair�or res#ora�ion ofi
<br /> �he P�operty shall be used f rst to pay any amount owing to Lender under this ❑eed of Trust,then to pay accrued
<br /> interest, and the rsmainder, ifi any, shalf be applied �o the prin��pa� balance o�F the indebtedness. �f Lender h�lds
<br /> any proceeds a�ter payment in �ull of the Indeb�edn�ss, such proceeds sha1� be paid �o T�-us#or as Trustor's
<br /> interests may appear.
<br /> Compliance with Exisfing Indebtedness. During the period in which any Existing Indebtedness des�r�bed below is
<br /> in e'�ect, compliance wi�h #he insurance pro�isions con#ained in the instrument e�iden�ing such Exist�ng
<br /> lndebtedness shal! cons�itute complian�e with the insurance pro�isions under this Deed flf Trust, �o th� ex#ent
<br /> comp�iance with the fierms of�his ❑eed of Trust wauld cvnsti�ute a dupli�ation o�'insurance requiremen#. If any
<br /> proceeds from the �nsurance becvme payable on loss, the prv�isivns in this aeed of Trust for di�ision o�proceeds
<br /> shall apply only to that portion o�the proceeds no#payable ta the holder vf�he Existing Indebtedness.
<br /> LENDER'S EXPENDIT�RES. If Trustor �ails {A} to keep #he Praper�y f�ee of all taxes, liens, security interes�s,
<br /> encumbrances, and other claims, �B} to pr�vide any required insurance on the Property, �C} to make repairs to the
<br /> Properky vr t� comply w�th any❑bligativn ta main�ain Exis�ing lndebtedness in goad standing as requ�red below, then
<br /> Lender may do so. !f any actian or proceed�ng is commenced that waufd materiaily affe�t Lende�`s interes�s in #he
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