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<br /> �EED �F TRU�T
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<br />� Lo�n Na: 'I��28871� {Con�t�nued} Page �3
<br /> T►4xES AI�D LIENS. The �allowing pro�isions relating �v the taxes and liens ❑n �he Property are part af this ❑eed of
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<br /> Trust: �
<br />" Paymenfi. Trustar shall pay when due �and in a�! e�e�ts prior�o delinquency� all taxes, special taxes, assessmen�s, �
<br />;; �ha�rges �including water and sewer}, �fines and impasi�ions le�ied agains� or ❑n account a��he Pro�erty, and shall
<br />�; pay when due all c�aims for work dane on or for ser�i�es rendered or materia� furnished �o �he Proper�y. Trus�or
<br />!; shall maintain �he Property�ree af all liens ha�ing priarifiy oWer�r equal to �khe interest of Lend�r under this deed ❑f ��
<br />' Trust, ex�ept for the lien ❑f taxes and assessments not due and excep� as o�herwise pro�ided in this Deed ❑f �
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<br />'_, Trus�.
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<br />� Righfi to Contes�t. Trustor may vvi�hhofd payment ❑�any�ax; assessmen�, or claim in cannec�ion wifih a �aad fai�h
<br />! dispu�e a�er the obligation�a pay, so long as Lender's interest in fhe Pra�erty is not jeopardized. 1�a lien arises flr �
<br />� is #iled as a result o� nanpayment, Trus�ar shall wi�hin fif�tieen ��5} days ���er the lien arises or, if a lien is �ifed, �
<br />� within �ifi�een ��5} days after T�ustor has nofiice afi the fiifing, secure the discharge afi the lien, o� �� requested by
<br />� I�ender; deposi�with Lender cash or a sufificient corporafe surety bond or o�her security satisfac�o�y to:Lender in an
<br />; amaunt suf�Ficient�a discharge the ��en plus any cas�s and a�tarneys' �ees, ar ather charges that cauld ac�rue as a ,
<br />` resul�of a foreclQsure or sa�e under the lien. In any contest, Trustor shall defend itself and Lende�and sha�l sa�is�y
<br /> any ad�erse judgmenfi before enfvrcemen� against�he Proper�y. Trustor shall name Lender as an addi�ian�f a�ligee
<br /> under any sure�y �ond furnished in the con�test proceedings. ;
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<br /> i Evidence of Paymen�. Trus�or shall upon demand �urnish �a Lender satis�a�tory e�idence af payment of the taxes
<br /> C or assessments and shall authorize.the apprapria�e go�ernm�ntai o��icial to deli�er to Lender at any time a written �
<br />�� s�atement af�he�axes and assessments against the Prflperty. �
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<br />� Nofiice of Construc�ivn. Trus�or shall noti�y Lender at least f�fteen t15} days before any wor�c is commenced, any �
<br />. seruices are furnished, or any materials are suppfied fia �he Proper�y, if any mechanic's Iien, ma�erialmen's fien, or
<br /> afiher Iien could be asser�ed ❑n account of the wark, ser�ices, or materials. Trustor �i[I upon request of Lende�
<br />� furnish to Lender ad�ance assurances satisfactory �❑ Lender �ha� Trustar can and wi�l pay the cas� of su�h �
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<br /> improWements. �
<br />� PRQPERTY DAIUTAGE lNSURANCE. The �ollawing p�o�isions relating to insuring the Property are a par�a�fihis De�d ❑f
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<br />; Trust. ,
<br />' 1Vlainfiena�ce o� Cnsurance. Trus�ar shall procure and maintain pof icies of f�re insurance with standard extended
<br /> co�erage endarsem�nts on a �air �alu� hasis for �he full insurable �alue co�ering a�f �mpro�emen�s on �he Reaf
<br />� Praperty in art amount suf�icien� �❑ avo�d appli�atiort a� any �oinsurance clause, and wi�h a s�andard martgagee
<br /> �iause in faWor of Lender, together with such other haza�d and Iiability insurance as Lender may reasonably require. �
<br /> Policies shall be wri��en in �orm, amounts, co�erages and basis reasanably accep�able �a Lender and issued by a �
<br /> company or companies reas�nab�y acceptable to Lender. Trusfiar, upan reques� ofi Lender, will deliWer �o Lender �
<br /> from time '�a �ime th� policies ar cer�i�ica�es af insurance in fnrm sa�isfactory �a �ender, in�luding stipula#ions that
<br /> ca�eragas w�ll no� be cancelled or diminished without a� leas� �en �1 D} days prior written na�kice to Lender. Each
<br /> insuran�e policy alsa shall include an endorsement pro�iding fihafi ca�erage in fa�ar o� Lender irvill not be impaired .
<br />� in any way by any act, ❑m�ssion ❑r de�ault nf Trustor ar any nther person: Should �he Rea� Property 1ae located in �
<br /> an area designated by the Administrator of�he Federai Emergency Managemen� Agency as a speciaf flood hazard
<br /> area, Trusfior agrees to obtain and maintain Federal Flood Insurance, i� a�aiiable, �or �he �ull unpaid principal �
<br />� balan�e of the laan and any prior [iens an �he property securing th� laan, up fio fihe maximum policy limits set under ;
<br /> the Nationai Flaod Insurance Program, or as ❑therwise required by Lender, and �o main�ain SuCh insurance far the '
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<br /> �erm o�the loan. I
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<br />; App�ication af Pro�eeds. Trustor shall prampt{y n�tify Lender of any ioss or damage to �he Pr�perty, Lender may �
<br /> malce praof o� lass �� Trus�or fails �a do so wi�hin f�fteen t�5� days a� �he casualty. Vllhe�her or na� Lender's �
<br /> security is irnpaired, Lender may, a� Lender's election, recei�e and retain the proceeds ❑f any insurance and apply
<br /> �he pro�eeds �� �he reduc�ion o� �he Indebfiedness, payment ofi any lien affec�ing the Property, ❑r the restoration
<br />� and repair o��he Praper�y. !� Lender el�cts t� appfy �khe proceeds �o res�aration and repair, Trustor shall repair or ;
<br />� repla�e fihe damaged or des�rayed impro�emen�s in a manner satis�actary ta Lender. Lender shall, upon .
<br /> satisfiactory prao�F ❑f such exp�nditure, pay or reimburse Trustor fram the proceeds #or the reasonabEe cos� a� �
<br /> repa�r or restoration if Trustor fs nat in default under this ❑eed ❑f Trust, Any praceeds which ha�e n�t been �
<br /> disbu�sed within 18n days after their rec�ipt and which Lender has nofi commi��ed �o the repai� �r restora�ion �f
<br /> �he Property shall be used firs�to pay any amount ❑wing to Lender under this Deed af Trust, �hen to pay accrued �
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<br /> interes�, and �he remainder, if.any, shall be appiied to the principal balance af �he Indeh�edness. If Lender holds �
<br />� any pro�eeds after payment in fiull of �he Indebtedness, such praceeds shall be paid �a Trus�ar as Trus�or's ;
<br /> interes�s may appear.
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<br /> LENDER'S EXPENDITURES. !f Trustor �ails �A} �ko Iceep the Property �ree af all taxes, �iens, securi�y in�erests, �
<br /> encumbrances, and other claims, �B7 �o pra�ide any required insurance on the Property, ❑r �Cy to make repairs �❑ �he ;
<br /> Praper�y �hen Lender may do so. If any a��ion or proceeding is cammenced tha� would ma�erially a��eat Lender's �
<br /> interes�s in the Prnperty, �hen Lender on Trustor's behalf may, bu� is n�t required to, taEce any action tha# Lender i
<br /> befi�ues to be appropriate to prote�t Lender's interests. All expenses incurred or paid by Lender for such purposes will �'
<br /> then ��ar in�erest a�the rate charged under�he Nate fram the da�e incurred ar pafd by Lender�o the da�e o�repayment ;
<br /> by Trustar. AI� such expenses w��l become a part a��he Indebtedness and, at Lender's optiort, will �A} be payabfe on
<br /> demand; �B} be added �o �he balance v� the Note and �e apportioned among and �e payabie with any insta�lmenfi
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