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��15�3335
<br /> � DEED �]F T'RUS`T
<br /> �Continued} Page 3
<br /> acts, in addition ta those acts se�fo�h ahove in�his section,which from the eharac#er and use of#he Properky ar�
<br /> reasonahiy n�cessary to protect and preserve th� Property.
<br /> TAXES AND L�ENS, The followirig pro�isions �elat�ng to the taxes and liens on the Prope�ty are part o�#his aeed o�
<br /> Trust:
<br /> Payment. Trusto�shal►pay vuhen due �and in alf e�ents prior to delinquency��I! taxesr 5p�'CI�I taXP�S, assessments,
<br /> charges ��ncluding water and sewer}, fir�es and imposi�ions le�ied against�r on accaunt o��h� Property, and shail
<br /> pay when due all claims f�r wvrk done on �r for serv�ces rendered ar ma�eria� furnished to the Praperty. Trustor
<br /> shall main�ain�he P�vperty free❑f al� liens ha�ing p�iority o�e�ar equal to�he in�erest a�'Lender unde�this Deed o�'
<br /> Trust, except �ar �he Iien af taxes and assessmen�s na# due, ex�ep� far �he Existing Indebt�dness refe�red tv
<br /> below,and except as otherwise pro�ided�n this Deed of Trus�.
<br /> Righ�to Contes#. Trustor may withhold paym�nt of any tax, assessment, or claim in connectian with a good fa�th
<br /> dispute o�e�#he obligation ta pay, so long as Lender's in��rest in the Praperty is not�eopardized. !f a lien aris�s ar �
<br /> is fled as a result of nonpayment, Trustor shall wi�h�n ffteen ��5} days after the lien arises ar, i�a lien is filed,
<br /> within fifteen ��5} days after Trustar has no�ice af the f€ling, secure#he discharge of the (ien, o�- if requested by
<br /> Lender,d�posi�w�th Lender cash❑r a sufficien�carpo�-a�e surety bond or o�her security satisfactary'to Lender in an
<br /> amount sufficien�to d�scharge�h� lien p�us any cos�s and at�orneys'fees, ar o�her charges thaf couid accrue as a
<br /> resul�o�a�orecl�sure or safe under the lien. ln any�on�es�, Trustor shall defend itsel�and Lender and shall satisfy
<br /> any ad�erse judgment before enfarcement against�he Prope�y. Trus�ar sha�!name Lender as an additiana�obiigee
<br /> under any su�ety bond�urnished in the contest proceedings.
<br /> E�id�nce of Paymenfi. Trustar shall upon demand�urnish to Lender sa#isfactory e��dence of paym�n#af the taxes
<br /> ar assessments and shail authar�ze the apprapriate go�ernmental aff�c�al to deliWer�a Lender a�any�ime a written
<br /> sta�emen#of the taxes and assessments against the Prope�ty.
<br /> Notice of Construction. Trustar shall no�ify Lender at �east fifteen ���} days before any work is cammenced, any
<br /> servi�es are furnished, or any materials are suppiied to the Property, if any mecharric's I�en, materia[men's lien, o�
<br /> a�her lien could be asse�ted on accoun�vf the work, sen�ices, or materia(s. Trustor will �pon request vf Lender
<br /> furnish to Lender ad�anc� assurances sat�s�ac�ory to Lender that Trustor can and wi�l pay the cast o� such
<br /> impra�ements.
<br />� PROPERTY DAMAGE INSURAN�E. The follflwing provisians relating#o insuring the Property are a par�of this Deed❑�F
<br /> Trus#. _
<br /> �aintenance o� [nsurance. Trustar shall procure and maintain poiicie� of f re insurance with standard ex�ended
<br /> co�erage endo�sements on a repia��men� basis for�he fu�l �nsurable �alue co�e�ing all Impro�ements on the Real
<br /> Property in an amaunt sufficient to a�oid applica#ion vf any coinsurance clause, and wifih a standard mortgage�
<br /> clause in�a�ar af Lender,tage#her with such o�h�r hazard and I�ability insurance as Lender may reasonably require,
<br /> Pa�icies sha�� be written in form, amounts, co�erages and basis reasonably accep�able ta Lender and issued by a
<br /> company ❑r�ompanies reasonably acceptable �o Lender. Trustor, upon reques�o� Lender, w�ll delE�er ta Lender
<br /> from �ime���ime the poficies or cer�ifcates of�nsurance in form satisfactory�❑ Lender, includ�ng stipulations that
<br /> co�erages will not be cancelled or diminished wi�hou�at least ten �'�0} days prior written no�ice �a Lender, Each
<br /> [nsurance policy also sh�ll in�lude an endorsem�nt pro��ding that co�erage in fa�Qr�f Lende�-will na�be impaired
<br /> in any way by any act, �mission ar default o�f Trustor or any othe�person. Shou�d �h� R�ai Property be�o�ated �n
<br /> an area designated by the Administrata�of the Federal Emergency Management Agency as a special flood hazard
<br /> area, Trustar agrees to obtain and maintain Federal Flood �nsurance, if a�ailab�e, for the maximum amount of
<br /> Trus�or`s credit line and �he�ull unpaid p�incipal balance o�'any prior liens on th� proper�y s�curfng�he loan, up�fl
<br /> the maximum pol�cy lirnits set unde�the Nativnal Flood Insurance Program,or as otherwise required by Lender,and
<br /> to maintain such insurance for fihe term of�he loan.
<br /> Applica#ivn o�Proceeds. Trusto�shall prompt�y notify Lender af any loss or damage#fl�he Praperty. Lender may
<br /> make p�-oof�� lass i� Trustor fails to do so within fiffeen �15} days of the casual�y. Vllhether ❑r not Lender's
<br /> security is fmpaired, Lender may, at Lender's el��tion, recei�e and re�ain the proceeds of any insur�nce and apply
<br /> #he pro�eeds tv #he redu�fion of the Indeb�edness, payment of any lien affecting �he Proper�y, or the restorativn
<br /> and repair of the Prape�ty. lf Lende�-elects to apply the proceeds to restoration and �-epair, Trustor shall repair or
<br /> replace the damaged or destroyed Impro�ements in a manner satisfactory to Lender. Lender shai�, upon
<br /> sa�isfac�ory pro�fi af such expenditure, pay or reimburse Trustor from the praceeds for th� reasanable cost Q�
<br /> re�air ar resto�-ation if Trustor is nvt in default under this Deed of Trust. Any proceeds which ha�e nvt been
<br /> disbursed within 'I S� days af�er the�r rece�pt and which Lender has no� c4mmitted to the repair or restaration of
<br /> �he Property shall be used frs�tv pay any amoun�vwing to Lender under this Deed vf T�-ust, then to pay accrued
<br /> in�erest, and the remaEnder, if any, shai� be applied to �he principal balanc� of�he lndebtedness. If Lend�r holds
<br /> any p�oceeds after payment in �uli ❑f the �ndeb�edness, such proceeds shall be paid tv Trus�or as Trustar's
<br /> interests may appear.
<br /> �ompliance with Existing lndebtedness. During the period in which any Existing lndeb��dness des�ribed be�ow is
<br /> in e�Fect, compliance with the insurance pro�isivns �antained in �he €nstrumen# e�iden�ing such Exisfing
<br /> indebtedness shali cons�itute campli�nce with the insurance pro�isians under #his Deed af Trust, ta the �xtent
<br /> c�mplianc� w�th the terms o�th�s Deed of Trus#would constitute a dup�ica��on o�insurance requirement. If any
<br /> praceeds from the insurance become payabi�on loss, �he pra��s�ons �n �his Deed a�Trust�ar di�isivn of praceeds
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