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��14��35�
<br /> D�E� �F TRUST
<br /> ��ontinued} Page �
<br /> dis�ute o�er the obiigation to pay, so lang as Lende�'s in�eres��n the Prop�rty is not jeopardized. If a �ien arises ar
<br /> is fiied as a �esult o� nonpaymer�t, Trustar shal� wi�h�n fi�t�en ��5} days after the ��en arises or, �f a lien �s filed,
<br /> w��hin fifteen �'[�} days after Trustor has notice of the fifing, secure th� d�scharg� o�the lien, ❑r ifi requested by
<br /> L�nde�,depasi�with L�nder cash or a sufficient corpo�ate surety band or other secur�ty satisfactary to Lender in an
<br /> amount sufficient to discharge the fien p�us any�osts and attorneys'fees, �r other charges that cou�d ac�rue as a
<br /> resul�flf a fore�losure or safe under the lien. In any cantest, Trust�r shall defend�tsel�and Lender and shall sat€sfy
<br /> any adve�se�udgment bef�re enforcement against the Prope�ty. Trustar shall name Lender as an addit�ana�obligee
<br /> under any surety bond furnished in the contest proceedings.
<br /> Evidence a�Paymen�. T�us�or sha�� upan demand furnish to Lender satisfactflry e�idence of payment o�#he taxes
<br /> �r assessments and shall authori�e#he appropriate go�ernmental official�o deliver to Lender a#any time a writt�n
<br /> sta�ement of the#axes and assessments agains�fhe Property.
<br /> Natice of Cvns�ructivn. Trustor shai� notify Lender at �east fi�#een {15} days be�ore a,ny work is commenc�d, any
<br /> services are furn�shed, or any materia�s are supplied�o the Praper�y, if any mechan�c's lien, materiafinen's liert, or
<br /> other I�en cvuld be asser#ed an account of the work, services, or ma�eria�s. Trustar wiil upan request af Lender
<br /> furnish to Lend�r ad�an�e assurances satisfactary to Lender that Trus�or can and wi11 pay �he cast a� such
<br /> �mpravements. ,
<br /> PR�PERTY []A�'wIAGE INSURANCE. The�ollawing provisians relating ta insuring the Proper�y ar� a part of�his Deed of
<br /> Trus�.
<br /> Maintenance ¢# Insu�anc�, Trustor shall procure and maintain polic�es of fire insurance wi#h standard extended
<br /> co�erage end�rs�ments on a replacement basis far the fiull insurable value coWering afl imp�o�ements on the Rea�
<br /> Prope�ty in an amount sufficient to avaid app�icat�on ❑f any co�nsurance clause, and wi�h a standard mortgagee
<br /> clause in fa�or of Lender,�oge�he�with such a�he�hazard and liabii�ty insurance as Lender may�easanably require.
<br /> Policies shafl be wri�ten in farm, amounts, coWerages and bas�s reasflnably ac�eptabie to Lender and issued by a
<br /> company or�ompani�s reasonabiy acceptab�e �o L�nder. Trustar, upon request af L�nder, wili deli�er to Lend�r
<br /> from t�me ta�ime �he po�icies or cerfificates o�insur�ance in �Form sa�isfactory to L�nder, �ncluding stipulafions that
<br /> coverages wif[ not be caneelled o�dimi,nished withou�at leas��en ���} days prior w�itten notice to Lender. Each
<br /> � insurance policy also shalf include an endorsernent pro�iding that Gave�age in fa�ar v�Lende�w�i� nat be impaired
<br /> in any way by any act, omission or de�au�t of Trustar or any❑�her person. 5hvuld the Rea� Property be located in
<br /> an area d�signated by the Administratar o�the Federal Emergency Managemen�Agen�y as a specia!ffoQd hazard
<br /> area, T�ustor ag�ees to abtain and maintain F�deral Flood Insurance, if a�ailable, for the full unpaid principal
<br /> balance of the loan and any prior liens on the proper�y secur�ng�he loan, up to th�max�mum policy��m its s�t unde�
<br /> th� Natiana� Fload Insurance Prog�am, or as a�henrvise required by Lende�, and�o main�ain such insurance for the
<br /> �erm vf the laan.
<br /> Appl�cation of Pr�ceeds. Trus�or shall promptly notify Lende�of any Coss a�damage ta the Prope�ty. Lender may
<br /> make praaf a� ��ss i� Trustor fai�s tv da so within fifteen ��5} days of the casualty. Whe�h�r �r not Lender's
<br /> secur�ty is impaired, Lender may, a� Lender's el�ction, recei�� and retain the proceeds o�any insurance and apply
<br /> #he prviceeds t❑ �he r�duct�an of the Indeb�edness, paym�nt o�any lien af�ec�ing the PrQpe�y, or the res�oration
<br /> and repair of the Property. lf Lender elects to appiy the praceeds�o res#oration and repair, Trustor shal� repa�r or
<br /> replace �h� damaged or destroyed Impro�ements �n a manner satisfactory to Lender. Lender shall, upan
<br /> satisfactary prva# of such �xp�nditure, pay ar reimburse T�us�ar from the proceeds �o� th� reasonab�e cost a�
<br /> repa€� o� res#aration i� Trustar is not in de�ault under �his Deed o'� Trust. Any proceeds which have no� been
<br /> disbursed within '18� days after their re�eipt and whiGh L�nder has not committed to the �epair or restoration o�
<br /> the Praperty shal� be used firs�to pay any amoun#owing to Lender under��his Deed o�Trust, then to pay accrued
<br /> interest, and the remainde�, �f any, sha�l be app�ied �o �he principal balance of the Indebtedness. lf Lender ho�ds
<br />� any proceeds af�er paymen� in ful� o# the Indebtedness, such proceeds shall be paid to Trustor as T�ustor's
<br /> inte�ests may appear.
<br />� Comp[�ance with Existing Indebtedness. ❑uring the per�od in �vhich any Existing Indebtedness desc�i�ed below�s
<br /> in e�fec#, comp#ian�e with the insurance provisions �antained in the instrumen� e�idencing such Ex�sting
<br /> lndebtedness sha�l cons#i�ut� comp�iance with the insurance provisions und�r this Deed of Trust, to �he extent
<br /> compliance with the terms of�his C]e�d of Trust would cans�itute a duplica�ion o'�insurance �equirement. 1f any
<br /> proceeds�rom the insurance become payable on loss, the provisions in �his Deed af Trust for divisian of proc�eds
<br /> sha�i apply only to that portion of the praceeds no�payable to the holder a�#he Existing lndebtedness.
<br /> LENDER`S EXPENDtTURES. If Trustor faiis (A} to keep the Proper�y free o� a�l taxes, �iens, securi#y interes�s,
<br /> �ncumbrances, and other claims, �B} �a pro��de any r�quired €nsurance on the Property, �C} �a make repairs ta �he
<br /> Prap�rty or �o camply wi�h any obli�ation to main�a�n Existing lndebtedness in gavd s#anding as required below, �hen
<br /> Lend�r may do so. lf any ac#ion ar proceeding �s �ommenced that would materia�iy affec# Lender's interests �n the
<br /> Praperty, th�n Lender on Trus#or's behalf may, but is not required to, take any ac�ion tha� Lender beiiev�s �o be
<br /> appropr�afe to pro#ec� Lender's interests. Ail �xpenses incurred or pa�d by L�nder �or such purposes wi�� then bear
<br /> in�erest at the rat� charged under the Note from the date incurred a� paid by Lender to the date a� repayment by
<br /> Trus�flr. Al! such exp�nses will become a part o�the Indebtedness and, a� Lender`s ap�ian, wiil �A} be payahle on
<br /> demand; [B} be added tv the balan�e af the Note and be appartiflned among and be payable wi�h any �nstallment
<br /> paymen�s to become due during either �'i} the term of any appli�a�a[e insurance policy; or ��} the remain�ng term af
<br /> the Nate; or �C} be t��ated as a bal{oon paymen�which w�l� be due and payable at the Note's maturity. The Deed v�
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