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��15�4759
<br /> a���a �F T�usT
<br /> ���ntinued� �a�� 3
<br /> Righ#ta Contes�. Trus�ar may v�ithhoid payment o�any tax, assessmen�, or claim in conr�ection with a good fai�h
<br /> dispute a�er the obliga#�on to pay, so long as Lender's in�erest in�he Property is no�jeopardized. If a lien arises or
<br /> is f[ed as a �esu�t of nanpayment, Trustar sha�l within fifteen ��5} days after the li�n ar€ses or, if a l�en is fi�ed,
<br /> within f��te�n (15} days after Trustar has no#ice of�he filing, se�ure the discharge of th� [ien, �r if requested by
<br /> �ender,deposit with Lend�r cash �r a suffic�ent corpara�e surety band or other se�ur��y satisfa�tary�a Lender in an
<br /> amount sufficient to discharge�he lien plus any c�s#s and attarneys'�ees, or other charges that could accrue as a
<br /> result o�a forec�osure or sa�e under the lien. In any contest, 7rustor shall defend i#seEf and Lender and shai!sat�sfy
<br /> any ad�erse judgment before en#orcem�nt against the Praperty. Trus�or shall name Lender as an additional obiigee
<br /> under any sureiy bond furnish�d in the contes#proceedings.
<br /> Evidenc� a€Paym�nt. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of�he taxes
<br /> or assessments and shall au�hori��the appr�pria�e go�ernment�l official to deli�er to Lender at any t�me a wr�tten
<br /> sta#ement af the taxes and assessmen�s against the Prope�ty.
<br /> Na�ice of Construc#ian. Trustor shafl nv�ifiy Lender at 1eas��ifteen �15}days befare any wQrk is cammenced, any
<br /> services are furnished, or any mat��ials are supp[ied ta the P�operty, if any mechanic's �ien, mate�ialmen's Ilen, vr
<br /> o�her lien �oufd be asser�ed �n accaunt of the work, s�rvices, or materials. Trustor wilt upon request of Lender
<br /> furnish �fl Lender ad�ance assuran�es 5atis�ac�ary �o Lender #ha� Trustvr can and wiil pay the cost of such
<br /> impro�ements. �
<br /> PRflPERTY DAMAGE INS�RANCE. The�o�fawing p�o�isions relating to insuring�he Property are a part of this Deed of
<br /> Trus#.
<br /> Ma�ntenance of lnsurance. Trust�r shall procure and maintain policies o�fire insuran�e with standard extended
<br /> co�erage endorsements on a replac�men# basis for the fu11 insu�rable Wa�ue co�e�ing all �mprovements on �he Real
<br /> Prop�rty in an amount suf�icient to avoid application af any coinsurance clause, and with a standard m�rtgagee
<br /> clause in fa��r of Lender,tog�ther with such other hazard and liability insurance as Lender may reasana�iy requi�e,
<br /> Policies shal� be wri�ten in farm, amaunts, coverages and basis reasvnabiy a�cep#a�l�to Lender and issued kay�
<br /> company or�ompanies reasonab�y acceptable ta Lender. Trustor, upan request o�Lender, will deiiver to L�nd�r
<br /> �rom �ime ta time �he po�i�ies ar c�rtificates c��F insurance in form s���sfactory ta Lender, inc�uding stipu�atinns that
<br /> ca�erages wil! nat be canceli�d or d�minished withaut a� least ten {'�0}days priar v��itt�n nc�t�ce to Lender. Each
<br /> insurance pa�icy alsa sha�l in��ude an endo�semen# proWiding that�ove�ag� in favor of Lender will not be�mpaired
<br /> in any way by any a�t, om�ssion or defiauit o�Trus�or or any❑ther pe�son. Should the Rea�Property be located in
<br /> an area designa#ed by the Admini�trato�of�h� Fed�ral Ernergency Management Ag�ncy as a sp�ciaL�laad hazard
<br /> ar�a, Trus#or agrees to ob#ain and rnaintain Federa� Fiood insurance, if ava�labfe, for the ful� unpaid principal
<br /> baiance o#the loan and any pri�r l�ens on the prvpe�ky securir�g the 1oan, up'�o the maximurn pal�cy limits set under
<br /> th� Nat�onal F�oad �nsurance Program, ar as o�herwis� required by Lender, and�o maintain such insu�ance for the
<br /> �erm o�th�1aan.
<br /> App�icatiQn o�Prace�ds. Trustar shall promptly natify Lender af any�oss ar damage ta the Property. Lender may
<br /> make praof o� loss i�'Trus��r fai�s �o d� so within �i�een �'15} days of the �asualty. 11Vhe#her or n�� Lender's
<br /> security is �mpa�red, Lender may, at Lender's�le�titin, recei�e and r�#ain the pro�eeds a�any insurance and apply
<br /> the proceeds to the �eduction o��he ln�ebtedness, payment of any lien affec�ing the Property, or the restoratifln
<br /> and repair af the Prap�rty. I�Lender elects to apply#he proceeds to restoration and r�pair, Trustar shall repair or
<br /> replace ��he damaged or destroyed lrnpra��ments in a manne� sa#isfactary to Lender. Lender shail, up�n
<br /> sa#isfactory proof a� su�h expenditure, pay ar reimburse Trustor frvrn the praceeds for the reasonable cost o�
<br /> repair ar restaration i� Trust�r is na� in d�fauit under this ❑e�d of Trust. Any praceeds which ha�e nat be�n
<br /> disbursed wi�hin `�SO days after their receipt and which Lender has nat committed t� th� repair or restaration af
<br /> the Property shail be used f rst to pay any amount owing to Lender under t�is Deed of�"rust,tnen to pay ac�rved
<br /> inte�est, and the remainder, if any, shall be applied to the principa� balance of the Indeb�edness. If Lender haids
<br /> any proceeds afte� paymen� in fu{I of the lndebtedness, such proceeds shai! be pa�d to Trustor as TI"u5tC71''S
<br /> in#er�sts may appear.
<br /> Camplian�e with Exist�ng indebtedness. During the per�ad in which any Existing indebtedness descr�bed b�lvw is
<br /> �n e��e�#, complianc� wi#h the insurance pra�isians cantain�d in the instrurnent e�iden�ing such Existing
<br /> Inde�tedn�ss shall consti�ute compliar�ce with the insurance pro�isions unde� this ❑eed o� Trus#, tv the extent
<br /> compliar�ce with #he terms af this Deed of Trus�wnuld �onstitu�e a dup�ica�ian of insurance �equirernen#. If any
<br /> praceeds�ram �he insurance be�am� payab�e on loss, the pro�isions in this Deed of Trust far division of proceeds
<br /> shail apply only to that portivn af the proceeds n�t payable to the ho�d�r o�the �xisting�ndeb#edness,
<br /> LEN�ER'S EXPENDITURES. If Trustor fails (A} to ke�p the Property free of a�� taxes, iiens, se�urity interes�s,
<br /> encumhrances, and o�her c�aims, �B} tv provide any required �nsurance on �he Proper�y, �C} �o make repa�rs to the
<br /> Proper�y ar ta compiy with any obligatian �o maintain Exis�ing �ndebtedness in good stand�ng as requ�red below, then
<br /> Lender may da so. !f any actian or praceeding 9� c�rnmenc�d that wauid rnat�rial�y aff�ct Lender's in#�rests in the
<br /> Praperty, #h�n Lender on Trustor's b�haif may, bu� is na� r�quired ��, ta�ce any ac�ian tha# Lender believ�s ta be
<br /> appropriate to protect Lende�r's int�rests. A�� expenses incurred or pa�d by Lender for su�n purposes will then bea�
<br /> interest at the rat� cha�ged under the �Vote fram the da�e incurred or paid by Lender tv the da�e ❑f r�paymenf by
<br /> Trustor. All su�h expenses wi11 become a par#af�he indeb�edness and, a� Lender's opti�n, will �A} be paya��e on
<br /> d�mand; �H) be added �to the bafance of�he Note and be app�rtioned arnang and he payable with any instal�men�
<br /> payments to become due dur€ng ei�he� (�} the#erm of any appli�ab�e insurance pali�y; �r �2} the remaining term❑�
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