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��14�1���
<br /> DEED �3F T�US�"
<br /> .
<br /> Cont�nued} Page 3
<br /> Trust:
<br /> Payment. Trustor shal� pay when due �and in aI� e�ents prior to delinqu�ncy} all taxes, speciaf taxes, assessments,
<br /> charges {inc�ud�ng water and sewer}, fines and impositions I��ied against or an account of the Property, and sha��
<br /> pay when due a!� claims far work done an or for ser�ices rende�ed or materiai furnished to the Prope�ty. Trustar
<br /> shall maintain�he Property �ree ❑f all liens ha�ing priori�y��er or equal to the interes� of Lender under this ❑eed o�#
<br /> Trust, except for the lien of �ax�s and assessments not due, except f�r the Exis��ng lndehtedness referred �o
<br /> below, and except as otherwise pro�ided in this Deed of Trust.
<br /> R�ght to Contest. Trustor may withhofd payment of any tax, assessment,ar claim in conne�tion w�th a good �Faith
<br /> dispute over the obligation t❑ pay, so �ang as Lender's in�terest in the Property is no�jeopardized. If a lien arises or
<br /> is �iied as a resuit of nonpayment, Trustor shall within fif�een �'i 5y days a�tar the lien arises ar, if a lien is filed,
<br /> wifihin fifteen �1 5} days after Trustor has noti�e af the filing, secure the discharge of the �ien, or if reques�ed by
<br /> Lender, deposi�with L�nder cash or a su�ficient �arporat�surety bond ❑r other security satisfac�ory to Lender in an
<br /> amount sufficient to discharge the li�n plus any �osts and attorneys' fees, or other charges that could a�crue as a
<br /> result of a fareclosur� or sale under the Iien. in any cantest, T�-ustor shall defend itself and Lender and shall sat�sfiy
<br /> any ad�erse judgmenfi before en#orcement against the Property, Trustor shall name Lender as an additional obligee
<br /> under any surety bond �urnished in the �antest pro�eedings.
<br /> E�idence af Payment. Trustar shalf up�n demand furnish ta Lender satisfactary e�idence of payment ofi the taxes
<br /> o� assessmen�s and shall authorize the appropriate g�uernmen�al of�i�ial to deli�er to Lender at any t�me a wri�ten
<br /> s�atement o�the taxes and assessments against�he Prope��y.
<br /> IVn-�i�e of Construction. Trustor shall notify Lender at least fifteen {1 5� days before any work is commenG�d, any
<br /> ser�ices a�e furnished, ❑r any materials are supplied to the Pr�pe�-ty, i# any mechanic's lien, materialmen's ��en, �r
<br /> o�her 1Een �ould be asserted on ac�ount �f the work, se�vic�s, or materials. Trustor will upon reques� ❑f Lender
<br /> � furnish t❑ Lender ad�ance assurances satisfactory to Lend�r that Trustor can and wilf pay the cost of such
<br /> impro�ements.
<br /> PR�]PERTY ❑AiVIAGE INSURANCE. The �ollowing pr��isions relating to insuring the Property are a par�of thEs Deed of
<br /> Trust.
<br /> Maintenan�e ❑f Insurance. Trustor shall procure and maintain polic��s of �ire insurance with standa�d extended
<br /> coverage endorsemen�ts an a replacemen� basis for �he full insurable �a�ue co�ering all lmpro�ements an th� Reai
<br /> Pr�p�rty �n an amount suffic�ent to a�aid appiicat��n o� any coinsurance c�ause, and with a standard mortga�ee
<br /> clause in fa�or of Lender, tagether with such other hazard and lia�ility insurance as Lender may reasonably require.
<br /> Palicies shall be written in form, am�unts, co�erages and basis reas�nably a�cepta�le to Lender and issued by a
<br /> company or companies reasonably acceptab�e �o Lend�r. Trustor, upon request of Lender, will deli�er to Lender
<br /> fr�m �ime �� tim� the po�icies or cert�fiGates af insurance in f�rm satisfactory to L�nder, including stipula�ions�hafi
<br /> co�erages will not be cancelled or diminish�d withaut at leas��en {��� days p�ior wri�ten not�ce t� Lender. Each
<br /> insurance poli�y also shall inciude an endorsemen� pro�iding that coWerage �n fa��r of Lender will no� be impa�red
<br /> in any way by any act, omission or default o�Trustor or any other person. Should the Real Property be lacated in
<br /> an ar�a designated by the Director �� the Federal Emerg�ncy Management Agency as a special �lood hazard ar�a,
<br /> Trustor agrees to ❑�tain and maintain Federal FIaad Insurance, i� a�ailable, for the maximum am�unt ❑f Trustor's
<br /> credit line and �he �Fuli unpa�d prin�ipal balance o# any prior liens �n the property securing the �oan, up to the
<br /> maximum policy limits set under the National Flood �nsurance Program, or as o#herwise required by Lender, and to
<br /> maintain such insu�ance �or the term of the loan.
<br /> App�icatian of Proceeds. Trustor shal! prampt�y no�i�y Lender of any loss ar damage ta the Property. Lender may
<br /> make proof of.I�ss if Trusto�- fai�s to do so within fi�teen �'f 5} days of the �asualty. Whether or not Lende�'s ._
<br /> security is impaired, Lender may, at Lender's election, recei�e and retain the proceeds of any insurance and apply
<br /> the pra�eeds to the reduct�an of �he lndebtedness, payme��� �f ar�y lien af�fecting the Property, ar the restoration
<br /> and repair ❑�the Property. I� Lender elects to apply the proceeds to resto�'ation and repai�, Trustar shall repa�r o�
<br /> replace the damaged or d�s�royed �mpro�ements in a manner satis�actory ta Lender. Lender shall, upon
<br /> satisfactory proa� o� such expenditure, pay or �eimburse Trustor fram the p�oceeds #or the reasonabfe �ost o#
<br /> repair ar restoration if Trustor is not in default under this Deed of Trust. Any proceeds which ha�e not been
<br /> dis�ursed within '�S� days af�e� their receipr and which Lender has not committed �o �he repair ar restoration af
<br /> the P�operty shall he used first�� pay any amount awing to Lender under this Deed af Trus�, �hen to pay accrued
<br /> int�rest, and the remainder, i� any, shall be applied to the principa! balance of the �ndebtedness. lf Lender holds
<br /> any proceeds a#ter payment in fu�l of the �ndebtedness, such pr�c�eds sha�l be paid to Trustor as fi�rustor's
<br /> interests may appear.
<br /> Camptian�e with Exis�ing Indebtedness. fJuring �he period in which any Existing Indebtedness described-be9ow is
<br /> in effect, compliance wi-�h the insuran�e p�-o�is�ons �ontained in the instrument e�idencing such Ex�s�ing
<br /> Indebtedness shall �onst��ute �omplian�e with the insurance pro�isions under �his ❑eed of Trust, to th� extent'
<br /> compliance with the terms ❑f this Deed of Trus-� would cans�itute a dup�icat�on of �nsurance requiremen�, If any
<br /> praceeds from th� insurance become payalale ❑n los�, the pro�isions �n this Deed �f'Trusfi�or di�isivn of prflceeds
<br /> shall apply❑nly to�tha� partian�-�th� proceeds not payable to the haid�r of the Exisfiing Indebtedness.
<br /> LENDER'S EXPEN��TURES. I� Trustar fa�ls �A} to k�ep the Praperty free af all taxes, liens, security int�r�ests,
<br /> encumbrances, and othe� c�aims, �B} to pro�ide any required insurance on the Praperty, tC� fa make repairs to the
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