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��14��739
<br /> DEED �F T'�UST
<br /> {�ont�nued� Pag� 3
<br /> Prvper�y. Trustor may contest in goad�aith any such law, ordinance, or regula�ion and w�thhold compliance dur�ng
<br /> any proce�ding, including appropriate appeals, so �ong as Trus�o� has noti�ied Lend�r in wri�ing pr�or to doing so
<br /> and so long as, in Lender's sole opinion, Lender's �nt�res�s in the Proper�y are na#jeopar�di�ed. Lender may require
<br /> Trust�r to post adequa�e securi�y or a surety bond, reason�b(y satisfactory to Lender,ta protec�Lender's in�eres�.
<br /> ❑uty t� PrQtec�, Trus�or agrees neither to abandon ar leave una�tended th� Properky. Trus�or shall do al� a�her
<br /> acts, in additian to those ac�s set�orth above in this s�c�ion, which from the character and use of the Praperty are
<br /> �easonably necessary�o pra�ect and presenre the Proper�y.
<br /> TAXES AND LIENS. The following pravisions relating to �he �axes and I�ens on the Proper�y are pa�t af this Deed o�
<br /> T�u st:
<br /> Paymen�. Trustor shall pay when due �and in all e�ents pr�or ta delinquenGy}all �axes, specia! taxes, assessments,
<br /> eharges ��ncluding wa�er and s�wer}, fin�s and imp�sitions �e�ied against or an accaun�of th� Property, and sha�l
<br /> pay when due all claims �ar wark done on or f�r servic�s r�nder�d or ma�erial �u�nished to the Praperty. Trus#or
<br /> shall maintain the Praper�y free��all I�ens ha�ing prior�ty o�er or equa� to�he interes�o�Lender under this Deed a€
<br /> Trus�, except for the I�en of taxes and assessmen�s no# due, except for fhe Existing Indebtedness re�err-ed �o
<br /> belaw, and ex�ept as o�herwise p�o�ided in this ❑eed of Trust.
<br /> Right�o C�ntest. Trus�or may withhold paym�n�afi any�ax, assessmer�t, or claim in conne��ian with a good fiai�h
<br /> dispu�e o�er the obligation �a pay; so long as Lende�'s interest in the P�operty is not�eopard�zed. I�a lien arises or
<br /> is ��ed as a resuit of nonpayment, Trustar shal� w�thin fifteen �'�5} days after the lien arises or, if a l�en is fled,
<br /> within �ifteen (1�} days afiter Trus�or has no�ice o� fihe filing, secure �he discharge af�he lien, ar if requested by
<br /> Lend�r,deposit with Lender cash ar a suffici�n#corpora#e surety bond or other secur�ty sa#is�actory to Lender in an
<br /> amount sufficient tv d�scharge the lien p[us any��sts and a��orneys'fees, or other charges#ha� could accrue as a
<br /> result o�a farec�osu�-e or sale under the lien. In ar�y contes�, Trustor shail de�end itself and Lender and shal� satis�y
<br /> any ad�erse ju�gment befor� enforcement against the Praper�y. Trus�or shall name Lender as an additiana� obligee
<br /> unde�-any surety bond�urnished in the con�e��proceedings.
<br /> Evidence of Payment. Trusto�shali upon demand furnish to Lender sa�isfac�ory e�id�nce �f payment of the taxes
<br /> ar assessmen�s and sha�l author�ze the appropriate go��rnmental o�f�cial ta de�i�er�a L�nder a�any time a wriften
<br /> statement of�he taxes an� assessments against the Proper�y.
<br /> Notice of Construction. Trustar shall no�ifiy L�nde�at least fifteen �'�5} days befo�-e any work is commenced, any
<br /> services are fiurnished, or any materials are supplied �a �he P�oper�y, if any mechanic's lien, materia[men's lien, or
<br /> ather �ien cou(d be asserted an accaunt of the work, sen�ices, or materials. Trustor wili upon request of Lender
<br /> furnish �o Lender ad�an�e assuran�es sa�isfactory �o Lender tha� Trus�or can and will pay the cos� �� su�h
<br /> �mpro�ements.
<br /> PR�PERTY DAMA�E INS�RANCE. The fi�llowing pro�isi�ns relating to insuring the P�-operty are a par�a#this Deed of
<br /> Trust.
<br /> Maintenance af fnsurance. Trustar sha�l procure and rnaintain policies o�fire �nsuran�e with standard ex�ended
<br /> co�erage endorsements an a rep�acement bas�s for the ful[ insurable �alu� cov�ring all �mpro�em�nts on �he Real
<br /> Prope�ty in an amount sufficient tv a�Qid appfication of any coinsurance clause, and wit� a standa�d mo�tgagee
<br /> ciause in favor of Lender, together with such other hazard �nd ��ability insuran�e as Lender may reasonably require.
<br /> P�iicies shali be writ#en in �arm, arnoun#s, c��erages and basis reasonably ac�ep�ab�e to �ender and issued by a
<br /> company �r companies reasonably acceptabie �o �ender. Trustor, upon �-equest o� Lender, w�ll d�li�er t� Lender
<br /> €r�om f�me to time the policies or cer�ificates ❑f�nsurance �n farm satisfiactory t� Le�der, including stipu�ations that
<br /> co�erages wi�l not he cancelled ar d�minished wi�hout at �east ten �1�} days priar w�-i�ten notice to Lender. Each
<br /> insurance policy also shall include an endorsemen� pro��ding that �ove�age in fa�or of Lender wi�l not be impaired
<br /> in any way by any �ct, omissi�n or defauit of T�u�tar or any a�her person. 5hou�d the Reai Property b� located in
<br /> an area designated k�y the Adm�nistrator of th� Fed�ra[ Emergency Managemen�Agen�y as a spe�ial flaod ha�ard
<br /> area, Trustar ag��es to obtain and maintain Fede�-al Fl�od lnsurance, if a�aiiable, fo� the maximum amaunt of
<br /> Trus�vr's cr�dit iine�nd the full unpa�d principal ba�ance of any prior liens on the proper�y securing the loan, up to
<br /> the maximum policy lirr�ifis se#under the National Flood Cnsurance Program, or as oth�rwise requir�d by Lender, and
<br /> t� ma€ntain such insurance�or�he term of the Ioan.
<br /> App�ication of Proceeds. Trustor shall promp�ly no�ify Lender of any loss or damage �o �he Proper�y, Lender may
<br /> make proof o� loss if Trustor fatls to do sa w��hin fifteen �'15} days of the casualty. Whether or no# Lender'�
<br /> securi�y is impaired, L�nder may, at Lender's elec�ion, recei�e and retain the prv�eeds o�any insurance and apply
<br /> the proceeds to �he reduction ofi the lndebtedness, paymen� of any lien af�ecting the Praperty, o��ne restoration
<br /> and repair of�h� Property. I�Lender e�ec�s tv apply the proceeds �o r�s�ora�ion and repair, Trus�or shal� repair o�
<br /> rep�ace the damaged ar destroyed �mpra�ements in a manner sa�isfacfory to Lender. Lender shall, upan
<br /> satisfactory praof of such exp�ndi�ure, pay or reimburse Trus#or �rom the proceeds fo� the reasanable cos� of
<br /> repai� or restoratian if Trusfior is no� in default under #nis Deed o� Trus�. Any proceeds which ha�e not been
<br /> disbursed wi�hin 'I8❑ days after��heir re�eipt and whiGh L�nder has nofi cammitted to the r�pair or restorat�on o�
<br /> �he Praperty shall be used first ta pay any amoun�owing ta Lender under this Deed o�Trust, �hen �o pay a�crued
<br /> interest, and �he remainder, if any, shall be appiied t� the principal balance af the indebtedness. I�F Lender ho�ds
<br /> any p�oceeds after payment in �uli flf the fndebtedness, such proceeds shail be pa�d to Trustor as Trusta�'s
<br /> interes�s may appear,
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