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<br /> QE�D �F TRL�ST
<br /> �Cc�ntinued� Page 3
<br /> sha�l rnaint�in�hs Property #r�e a�atl I�ens ha�ing priority��er or equal to the in�ere�t o�Lender under this ❑eed t�f
<br /> Trust. except for the lien of taxes and assessments not due and �xcept as atherwis� pro�fded in this D�ed a�
<br /> Trust.
<br /> Right tc�Conte�t. Trustor may withhold payment of any t�x, assessment, or ciaim in cvnn�ction with a gvod faith
<br /> dispute Q►►er the vb�igati�n#v pay, so lang as Lend�r's intsr�st in the Property is not jeopardized. !f a lien arises or
<br /> is filed as a result of nonpayment, Trustar shall wit#�in fifteen �15f days after the lien arises or, if � lien is fi�ed,
<br /> within fift�en {15y days aft�r Trustor has noti�e of the filtng, secur� the discharge vf the lien, vr if requested by
<br /> Lender, deppsit with Lender cash or a sufficient ca�rparate surety band❑r❑ther$e�urity satisfactory tc� �.endsr in�n
<br /> �maunt su#�ici��t�o disch�rg�the lien plus any costs and �ttvrneys' �ees, or❑ther charges th�t cauld a�crue �s a
<br /> result of a foreclasure or sale und�r the lien. I n any cvntest, Trust�r shall defend itself and Lender�r�d shall sat�sfy
<br /> any ad►►erse judgment be�ore enforcement agatnst the Property. Trustar shasl nam� Lender as an additional obligee
<br /> under any surety bond furnish�d in the cvnt�st proceedings.
<br /> Eviden�e o�Paym�nt. Trustv�shal! up�n demand furnish to Lencfer s�tisfact�ary e�iden�e v� payment❑f�he taxes
<br /> or assessments and shall authorize the apprvpriate gflvernmental nfi���a! #❑ deliver to Lend�r at any time a wri#t�n
<br /> statement❑f the#�xes and assessments ag�inst the Property.
<br /> Notice of Cvnstruction. Trustvr shall natify Lender at least fifteen ��5� days b�fvre eny wvrk is cammen�ad, any
<br /> ser�ices ar� furni�hed, or any materials�are sup�p��ed ta the Property, i#any me�hanic's lien. materialmen's lien. or
<br /> other lien could b� asserted on account o� the work, services, or materfa�s. Trustor wil! upon r�quest o# L�nder
<br /> furnish to Lende� ad�anGe assurances satisfactary to L�nder tha�t Trustvr �an and will pay the cost vf such
<br /> impra�ements.
<br /> PR�PERTY C�AIVIACE INSURANCE. The following prv�is'rons relating ta insuring the P��perty are a par�of this ❑�ed af
<br /> Trust.
<br /> Mainten�nce of �nsurance. Trustor shall prvcure and maintain pa�icies ❑f fi�e insur�nGe with standard ext�nded
<br /> �o�erage end�rsements on a replacement basis for the #uf! insu�able �aiue ca�ering all lmp�rovem�n�s on the Real
<br /> Property in an amount suffi�ient to a►�vid appl�catian t�# any coirrsurance clause, and with a standard mortgag��
<br /> clause i�fa�vr af Lender. Tcusto�shall also prv�ure and maintain compcehensi�e general liability i�sur�nGe in such
<br /> co��rage �maunts as Lender may request with Trustee �nd Lender being named as �dditiona! insureds in su�h
<br /> liability insurance policies. Additional�yR Trustor shall maintair� such other Ensu�ance► including �ut n�t limit�d ta
<br /> hazard, business int�rruption, and hail�r insuran�e, as Lender may reasonahly require. P�li�ies sh�ll be writ��n in
<br /> form, amaunts. �overages and basis reasonably acce�table to Lender and issued by a ��mpany or cvmpani�s
<br /> reasonably acc�ptehl� ta L�nd�r. Trustor. upon reques# of Lender. wiil deli��r to Lendec from time to time �he
<br /> poiicies or certifi�ates af insurance in form satisfac�ary ta �,en�er. in�luding �tipuletions that�o�eragss wili nnt b�
<br /> Gan��lled vr diminish�d without�t least�hirt� t3�� days prior wrttten notic�to Lend��. Ea�h insurance poli�y alsa
<br /> shal�include an endorsement providing that���erage�n�avor of Lender will not he impaired in any w�y by any act,
<br /> �missian vr de�ault�f Trus#or or any ❑ther persvn. Should the Re�l Praperty b� Io�e#ed in an area d�sign�ted by
<br /> the Adm�nistrator vf th� F�deral Emer�ency Manag�ment Ag�ncy as a sp�cial flood ha�ard area, Trustor agrees t�
<br /> ahtain and maintain F�der�l Flood Insurance, if available, within 4�5 days after natice is gi�en by Lender that the
<br /> Prc�perty�s�v��ted in a s�cial��ood hazard area. far the full unpaid prin�ipa�halance o�the�oan and any prit��liens
<br /> on the property securing the laan, up tc�the maximum policy�imits s�t under the Netional Flood Insurance Pragram,
<br /> ar as v#herwise require�hy L�nder, and to maintain such insuran�e for#he term�f#he Ioan.
<br /> App�ic�i�n at pr�seds. 7rustor sha11 pramptly norify Lender af any iass or damag�ta the Property. Lender ma�
<br /> mak� provf v� �oss irt T�ustor fails �c� do so w�th�n fifteen �15y da�ys of the �asualty. Wh�th�r �r n�# Lender's
<br /> se�urity is impairedR Lend�r may, at Lender's electia�n, re�ei�e and retain th� proceeds ofi any insurance and �p�ly
<br /> the proce�ds tn the reductian af the Indebtedness, payment of eny li�n �ffecting the Prope�ty, or the restv�ati�n
<br /> and rep�air c�f the F�rop��rty. �f Lend�r el��ts tfl app�y the prviceeds to res�ar�tion and repair, Trustor sh�ll reRair or
<br /> replace th� d�mayed or destrayed Impro�ements in a rnanner satisfactary ta Lender. Lender shall. upon
<br /> satisfactvey prvo# of such expenditure. pay or reimhurSe Trus#�r #rom th� proceeds fc�r the reasonable Gast af
<br /> repair or restvratian i� Trustor �s not in de�au�t under this D�ed of Trust. Any prviceeds wh�ch h��e nat b��n
<br /> disburse�d within �S� days aft�r �heir r�ce�pt and whi�h Lender has nat camm�tted i� the r�pair ar restoration o�
<br /> the Prvperty shall be us�d first to pay any emvunt awing ta Lender under this Deed of Trust, then to pay a��rued
<br /> interest� and the remaind�r, if any, sha�l be app�lied to the principal balance a�f the lndebtedness. If Lend�r h�lds
<br /> any �aroceeds after payment in full �f the Indebtedness, su�h prviceeds shal� be paid to Trustar as Trustar's
<br /> interests may appear.
<br /> Trus#or's Report on Insurance. Upvn r�quest of Lender, hawe�er not mo�re than�n�e a ye�r, Trustor shall iurnish
<br /> ta� Lender a report on �a�h exist4ng po}icy Qf insurance $howing: �1] �he name of the insurer; �aj the risks
<br /> +nsur�d; t3f the am�unt of the poli�y; �4y the property insured, thg then current r�placement �alue Qf such
<br /> property, and the m�nner af d�termining that �alue; �nd t5y the exRirat�an d�te af the policy. Trusto�shall, upon
<br /> request of Lender. ha�e an independent appratser sa�isfacto�y tv Lender determin�the cash ualue repla�ement�ost
<br /> af#he Prop�rty.
<br /> LENDER'S EXPENDlTURES. If any �ct�on or proceeding i� cammenced that wvuld m�terially a�f�eCt Lend�r's intere�t in
<br /> the Property vr ifi Trustar fails to comply with any pra�ision of this De�d❑�Trust❑r a�ny Related D�r�uments. includin�
<br /> but not limited to Trustor's failure to discharge ar pay when due any amounts T�ust�r is required to discharge or pay
<br /> under this Deed of Trust❑r any Reiated Do�uments, Lender on Trustor's b�half may thut shall not be abligated to} t�ke
<br /> any a�#ian that Lender deems apprc�priate, including bu# not limi�ed tv dischar�ing or payin� all tax�s, fiens, s�curity
<br /> inter�sts, en�umk�rances and ather claims, �t eny time le►►�ed Qr placed an the property and paying all costs�o�insuring,
<br /> maintaining and preser�ing the Property. All such �xper�ditures incurr�d or paid by L�nder for such purp�sas will ther�
<br /> b�ar interest at the rate charg�d under the Note from the date incurred or paid by Lender to the dat� of repayment by
<br /> Trustor. All such exp�enses will became s p�rt of the lndebt�dness and, at Lender's vption, wil� �Ay be payabfe vn
<br /> dem�nd; (By he added to the �alance o� th� Nvte and h� appa�r#ion�d �mang and be payehl� with any installment
<br /> payments to become due during either �1 f th� term oi �ny applic�ble insurance pvli�y; vr ��y the remaining term ❑f
<br /> the Note; or tCf be treated as a ba�lavn payment which will ae due and payable at the Note's maturity. The Deed vf
<br /> Trust als� w�ll secure payment at these amounts. Such right shalE be in additi�n ta all ath�r rights and remedi�s ta�
<br /> which Lender may he entitled upon ❑ef�ult.
<br /> VIIARRANTY; DEFENSE�3F t1TLE. The�ollowing p�o�isivns relating t❑ownership of the Property�re a part�f th�s Deed
<br /> of Trust:
<br /> Trtle. Trustnr warrants that: ta) Trustar holds goad end market�b�e tit�� o� rec��d ta the Prap�rty in fee simp�e,
<br /> free and clear ofi all liens and encumbrances other than thas� �et forth in �he Re�! Property de�cr�ption ar in any
<br /> title insurance poliGy, title report. or #in�i ��tle opinion issued in favor of, and accepted by. Lender in connectivn
<br /> with this Deed vf T�ust, and �b� Trustor has the fiutR right, power. and auth�rity tn execute and deli�er this De�d of
<br /> Trust ta L�nd�r.
<br /> Daf�nse a�f Title, Subject �C❑ th� exceptian in �he psragraph ab�ve, Trust�r warr�nts and will �ore�er defend the
<br /> title to the property ag�inst the �awful cla;ms of�I� pe�sons. In the e�ent any acti�n�r proceeding �s commenced
<br /> that questions Trustar's title ar the�n#erest of Trustae Qr Lender under this ❑�ed�f Trust, Trustar sh�ll defend the
<br /> ac�ion at Trustor's e�pens�. Trustor m�y be th� nvmina� party in suGh prvcseding, but Lend�r shall be entitled tv
<br /> p�rticipate in the p�viceeding and t❑ be repr�sented �n the prviceeding �y cvun�el of L�nder's own �hoice, �nd
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