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��14�4194
<br /> �EE[3 �F TRUST
<br /> Loan No: 1�'1�7��59 {�o�itl�u�d� Pag� 3
<br /> right, �itle or interest in the Real Property; whe�her legal, bene�icial ar �qui�able; whe�her voluntary �r invoiuntary;
<br /> whe�h�r by �utright sale, deed, insta�lment safe contract, land cantract, �ontrac� for deed, leasehold interest with a
<br /> fi�rm greater�han three �3} years, lease�a��ion con�rac�, or by sale, assignment, or ��ansfer of any bene�icial jnt�rest in
<br /> or to any land trust holding ti�ie to the ReaI Proper�y, or by any ather methQd o�con�eyance_o� an interest in the Real
<br /> Property. Hawev�r, this op�ion sha�l nat be exercised by Lender i� such �xercise is prohihited by fiederal Iaw or by
<br /> IVebras�ca �aw.
<br /> TA�CES AND LIENS. The following pro�isians relating to �he taxes and liens on the Property are part o� this Deed ��
<br /> Trust:
<br /> Payment. Trustor sha[� pay wh�n due �and in al� events priar�o deEinquencyy ai1 taxes, specia�faxes, assessments,
<br /> charges {including water and sewer�, fines and impositions le�ied against �r Qn ac�ount o��he Property, and shall
<br /> pay when due all claims for work done on or #or s�r�ices rendered or mafieria� �urnished �o the Proper�y, Trust�r
<br /> shall maintain the Property fre� of all li�ns ha�ing priority o��r or equal tfl the interes�t af Lend�r under�rhis Deed af
<br /> Trust, �xcspt ��r ��� li�n of �axes and assessm�nts not due and except as �fiherwis� prvv�ded in this Deed flf
<br /> Trust.
<br /> Right to Cant�st� Trus�or may►rvithhold payment af any tax, ass�ssm�nt. or claim in conne�tian with a gvod faifih
<br /> dispu�e ��er the vbliga�ion to pay, so lang as Lender's interes�in the Praperty is nat jeopardized. If a lien arises ar
<br /> is filed as a resulfi �f nonpayment, Trus�ar shall wi�hin �ifteen {�5} days a��er the lien a�ises or, if a lien is filed,
<br /> within fi�teen �15y days a�ter Trusfior has notice of �he filing, s�Gure the discharge of fhe lien, ❑r if reques�ed by
<br /> Lender, depvsit with Lender cash vr a sufi�icient corporat�surety bond or�th�r security satisfac�vey t� Lender in an
<br /> am�unt suf�i�ient t❑ disGharge the lien plus any costs and atfi�rn�ys' �F�es, or ather charges �hat could accrue as a
<br /> resui�of a f�reciosure or saie under the lien. In any�ontest. Trustor shall defend itself and L�nder and shall satisfy
<br /> any ad�erse judgmen�be�ore en�arcement against the Pr�perty. Trustor shall name Lend�r as an add�tional abligee
<br /> under any surety bond fur�nished in�h�contest pra�eedings.
<br /> Eviden�e of Payment. Trus�or shall upon demand �urn�sh t❑ L�nder satisfac�ory eWidence o�payment of the taxes
<br /> vr assessments and sha�l authorize the appropriate goWernmenta� �fficial ta de[��er to Lender a� any time a written
<br /> statem�nt af the�axes and assessments against the Prop�rty.
<br /> Nv�ice af Constru�tivn. Trustor shall no�i�y Lender at least fift�en t 15] days before any worl� is camrnenced� any
<br /> ser��ces are furnish�d� or any ma�erials are suppli�d �o the Proper�ty, if any mechanic's lien, ma�eriatmen's �ien, or
<br /> ather lien could be asserted on accoun� of the w�rk� ser�ices, or materials. Trust�r will up�n request of Lender
<br /> furnish to L�nder ad�ance assurances satis�actory to Lend�r �ha� Trustor can and will pay the ��st af SUCh
<br /> improvements.
<br /> PRC�PERTY DAMAGE INSURAlVCE, The �ollowing prfl�isions r��a�ting tfl insuring the Pr�p�rty are a par�of this Deed �f
<br /> Trust.
<br /> IVlaintenance vf Insurance. Trustor shall procure and maintain policies of �ire insurance wi�h standard ext�nded
<br /> ca�erage endarsemen�s an a �air va[ue basis �or the ful[ insurab�e �alu� ca��rin� all_Impro�ements an the R�al
<br /> Praper�ty in an amoun� suf�ficien� t� a�aid application af any coinsurance clause, and with a standard mortgage�
<br /> clause in favor of Lender. Trustor shall also pr�cure and maintain cnmprehensive genera! 1�ability insurance in such
<br /> cov�rage amounts as Lender may requesfi with Trus�tee and L�nder being named as additional insureds in such
<br /> liabili�y insuran�e poficies. Additi�nally, Trustor shal� maintain such ather insurance, including but nat limited to
<br /> hazard, business interruption, and boiler insurance, as Lender may reas�nabEy require. P�[icies shall'be written in
<br /> form, amounts, c�Werag�s and basis reasanably acceptable to Lender and issued by a company__vr companies
<br /> reasanabfy acceptabl� to Lender. Trustor, upon requesfi o� Lender, will deliver to L�nd�r fram time ta �ime the
<br /> p�licies ar �erti#icates o� insurance in ��rm satisfactvey to Lender, including stipulat�ons �ha�co�erages will no� be
<br /> cancelled or diminished without a� least ten ���} days prior written noti�e ta L�nder. Each insurance policy als�
<br /> �hal! inc�ude an endorsement pro�idin� that co�erage in fa�o�of Lender rrvill not be impaired in any way by any act,
<br /> omissian or de�aul� af Trustar or any other p�rsan. 5houid �he Real Pr�per�y be located in an area designated �y
<br /> the Administrator of the F�deral Em�rgency Management Agency as a special flood hazard area, Trustar agrees �a
<br /> obtain and maintain Federal Flaod Insurance, if availa�le, for the full unpaid prin�ipal balance of�he �oan and any
<br /> prior liens �n the prvper�y securing the laan, up ta the maximum palicy Eimits set under the Natiana! Flood
<br /> lnsuran�e Pragram, or as otherwise required by Len�er, and t� ma�ntain such insurance for�he term af the loan.
<br /> Applica#ion of Proceeds. Trust�r sha�1 promp�ly no�ti�y Lender of any loss or damage �o the Property, Lender may
<br /> make proof af loss i� Trus�kor fails to da s� w�thin fift�en ��5} days af the casualty. Vllhether �r not L�nderts
<br /> security is impaired, L�nder ma�r, at Lender's electian, recei�e and retain �he proceeds af any insurance and apply
<br /> th� prflceeds to th� reduc�ion ❑f the lndeb�edness, payment �� any lien affec�ting the Proper�y� or the r�storation
<br /> and r�pair o�the Property. lf Lender elects ta apply the proceeds to r�storati�n and repair, Trus�ar shall repair or
<br /> repfa�e the �lamaged or destr�yed lmprovements in a manner sa�isfactary to Lender. Lendsr shall, upon
<br /> satisfa�tory proofr �� su�h expenditure, pay or reimburse Trustor fram �the proc�eds far th� reasonab[� cast of
<br /> repair or r�starativn if Trustor is not in d�fault under �his Dsed a� Trust. Any proceeds whi�h ha�� nat been
<br /> disbursed within '�8� days af�er their receipt and which Lend�r has not commi-�ted ta the repair ar res�ora�ion af
<br /> �he Property shall be used �Firsfi to pay any amaun� awing �o Lender under fhis Deed of Trust, then ta pay accrued
<br /> in�erest, and the remainder, i� any, shall be appiied tv the p�in�ipal balance af the Indebt�dness. If Lender halds
<br /> any proce�ds after payment in full o� �hs Indeb�edness, such proceeds sha11 b� paid to Trus�or as Trus��r's
<br /> in�er�sts may appear.
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