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��14�3795
<br /> DEED D�' TRUST
<br /> �Continued} Page 3
<br /> reas�nab�y necessary to pro#ec�and preserve the Prape�ky.
<br /> TAXES AND LlENS, The �oliowing pra�isions re�ating to the taxes and liens on the Property are par� o�this Deed vf
<br /> Trust: �
<br /> Paymen#. Trustar sha11 pay wh�n due �and in all e�ents prior to delinquency}al1 taxes, speGial tax�s, assessments,
<br /> charges �inc�uding water and sewer}, fnes and �mposi��ons �e�ied aga�nst or on account of the Proper�y, and shall
<br /> pay when due a!i c�aims for work done ❑n or f�r serv�ces r�ndered o�ma�eria� furnished to the Prope�ty. Trustnr
<br /> shal� maintain the Property fr�e of al� liens ha�ing priori�y��er or�qua!�o�he Enterest of Lender under�his Deed o�F
<br /> T�ust; �xcep� for the lien of taxes and assessments not due and excep� as o#henrvise pro�ided in #his ❑eed v�
<br /> Trust.
<br /> . R�ght ta Contest, Trustor may withhoid paymen#of any tax, assessment, ❑�claim i� connectian with a good faith
<br /> dispu�e o�er the obl�gation ta pay, so �ong as Lender's inte�es#in �he Property is not jeopardized. If a lien aris�s or
<br /> Es €i�ed as a resu�t af nonpayment, Trus�or shail within fifteen �15} days after the lien ar�ses or, if a lien is filed,
<br /> within fifteen ��53 days after Tru��or has notice of �he filing, secu�-e �he d�scha�ge of the lien, or i� requested by
<br /> Lender,depo$i�with L�nder cash or a sufficient corporate sure�y laond or a�her security satisfactory to Lender in an
<br /> amount sufficien#ta discharge the I�en plus any cos�s and attorneys'fees, or vthe�cha�ges#hat could a�crue as a
<br /> resuit of a foreclasu�e or sale under the lien. in any Contest,Trustor shall defend �tsel�and Lende�and shal�satisfy
<br /> any adverse judgment befvre enforcement against#he Prope�ty. Trustor shall name L�nder as an additional obligee
<br /> under any surety bond�urnished in the can�est proceedings.
<br /> E�idence of Payment. Trustor shal� upan demand furnish to Lend�r sa�isfactary ev�d�n�e af payment a��he taxes
<br /> or assessments and shall autharize�he appr�priate gQ�ernmental afficial t�de�i�er to Lender at any time a writ�en
<br /> statement of the taxes and assessments against the Property.
<br /> Na��ce of Construc#ivn. Trusfior shail natify Lender at least fifte�n �15} days before any wark is commen�ed, any
<br /> se�vices are furnished, or any materials are supplied to the Rroperty, if any mechanic's lien, materia�men's lien, or
<br /> o�her lien could be asserked on account of the wark, services, or materials. Trus�or will upon reques� of Lender
<br /> furnish ta Lend�r ad�ance assurances satis�actory to Lender that Trustor can and wil[ pay the cost o� such
<br /> impro�ements.
<br /> PR�PERTY DAMAGE INSURANCE. The fa�lowing pro�isians r��ating �o insuring the Praperty are a par�of this �3eed o#
<br /> T�-ust.
<br /> Nfa�nt�nan�e a�F Insurance. Trus�or sha�l pracure an� maintain po�ic�es of fire insu�an�e wi�h standard extended
<br /> co�erage endorsements on a replac�ment basis�or th� fu11 insurab)e value co�ering al� lmprovem�nts an �he Real
<br /> Proper�y in an amount su€ficien� to avoid application of any coinsurance clause, and w�th a standard mar�gagee
<br /> �lause in fa�ar of Lender,together with such ather hazard and ifability insurance as L�nder may reasanabiy require,
<br /> Poiicies shall be writt�n in form, arnounts, co���ages and basis reasonably acceptable tv Lender and issued by a
<br /> company or campanies reasonably ac�eptable to Lender. Trust�r, upon request o� Lender, vuill deli�er to Lender
<br /> �rom t�me�o time the policies or cert�f�cates of insurance in �arm sa�isfactory to Lender, including stipu�a#ions#hat
<br /> coverages will not be�ancelled or diminished without at least#en (1 Q} days prior written no#ice ta Lender, Each
<br /> insurance po�icy also shal! include an endorsement pro�iding tha��overage �n�a�ar of Lender will not be impaired
<br /> in any way by any act, omission or d�fau��ofi Trus�or or any other person. Shauld �he Reai Property be�ocated in
<br /> an area designated by the Administra�ar of#he Federal Eme�gency Managemen#Agency as a special fload hazard
<br /> area, Trustv� agrees �o obtain and maintain Federal Flood Insurance, �f a�ailab�e, fvr the maximum amount of
<br /> Trustor's c�ed�� line and the full unpaid princ�pal balanCe of any pr�or liens on the praperty securing the �oan, up to
<br /> Q the rnaximum poiicy limits set under th� Nat�anal Fland Insuran�e Pragram,or as athen�v�se required by Lender,and
<br /> tv maintain such insurance�or�he term o�F the loan.
<br /> App[icatifln of Procee�s. T�ustor shall prompt�y nofify Lender v�any lass or damage to�he Property. Lender may
<br /> make proof of Iass if Trustn� �ails to do so with�n �i#teen �'15� days of the casualty. V11he�her or not Lender's
<br /> security is impaired, Lender may, a# Lender's election, recei�e and retain the p�oceeds o�any insurance and apply
<br /> the proceeds to the �eduction fl�the Indebtedness, payment of any lien affe�ting th� Property, vr the restoration
<br /> and repair of the Property. 1�F L�nd�r el�cts�o apply the proceeds tv �-estoration and repair, Trustor�hall repair�r
<br /> replace the damaged or destroyed lmpro�ements in a rnanner satisfa�tory fo Lender. Lender shail, upon
<br /> . sa�isfactory proaf of such expendi�ure, pay or reimburse Trus�ar fram the proce�ds for the reasonable cvst of
<br /> • repai� or restorati�n if Trustor is not in defauit under this Deed of Trust. Any proceeds whi�h have no# been
<br /> disbursed within '[8� days aftet�their receipt and which Lender has not commit�ed fo the repair or ��storation of
<br /> the Praperty shail be used fiirst tfl pay any amaun�awing '�a Lender under�his Deed ofi Trus�, then t❑ pay accrued
<br /> in#erest, and the remainder, if any, shal� be appl�ed tv the principal balance of the lndeb#edness. �f �ender holds
<br /> any proceeds after paymen� in full of the Indebtedness, such proceeds sha�l be paid to T�ustor as Trustor's
<br /> in#eres#s may appear.
<br /> LENDER'S EXPENDITURES. 1f Trustor fai�s �A} ta keep the Prop��ty �r�e of al� taxes, liens, security in�erests,
<br /> -� er�cumbranc�s, and other claims, �B} to pro�ide any r�quir�d insurance on the Property, ar �C} ta make repairs to the
<br /> Prope�ky then Lender may do so. �f any actio� or proc�eding is commenced that would materiaily aff�ct Lender's
<br /> interests in the Proper#y, then L�nde� on Trus�ar's behal� may, but is nat requi�-ed to, take any act�on tha� Lende�-
<br /> be�ieves to b�appropria#e to protect Lender's interests, All expens�s incurred or paid by Lender�or such purposes wiil
<br /> then bea��nteres#a'�the ra�e charged under the Credit Agr�ement fram the date incur�ed a�paid by Lender ta the date
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