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2� 1 ��3�38 �EED �F TRUST Laan No: ��1�95D7� t�antinued} Page 4 o�- assessmen#s and shall au�horize the appropriate go�ernmental ��i�ial t❑ de�EWer tv Lender at any time a written statement of the taxes and assessments against the Prvperty. Natice of Constru�tion. Trustar shall no�ify Lender a� least�ifteen 4�5� days be�Fvre any work is commenced, any . ser�ices are furnished, or any mafierials are suppEEed�❑ the Proper�y, �f any mechanic's lien, mat�rialmen's lien, or o�her Iien �ould be asser�ed ❑n accoun� ❑f th� work, ser�ices, ar materials. Trustvr will upon reques� of Lender furnish �o Lender ad�ance assurances satis-�actory to Lender that Trustvr can and will pay the cas� of such imprv�ements. PRaPERTY DAMAGE 1NSURANCE. The fallawing provisions rela�ing t❑ insuring the Prvperty are a part vf this Deed ❑f Trust. Maintenance vf lnsurance. Trustvr shall procur� and maintain policies of fire insurance with standard ex�ended co�erage endorsements on a fair �a1ue basis for �he full insurable �alu� co�ering a!I lmpro�ements an the Rea� Property in an amount sufficient to a�oid appli�a�ion o� any �oinsurance clause, and with a s�andard mortgagee clause in�a�or of Lender,togefiher with such❑ther hazard and liabili�y insurance as Lender may reasvnably require. Policies sha�l be wrififien in �vrm, amounts, co�erages and basis reasanab�y acceptable t❑ Lender and issued by a company ❑r companies reasonabfy ac�e�table to Lender. Trustvr, upvn request ❑f Lender, will deli�er fio Lender �rvm time�a time the polici�s or cer�ifi�ates ❑f insurance in�vrm sa�isfact�ry tv Lender, incEuding s�ipulatEans that co�erages wi�E nvfi be cancelled nr d�minished wi�hout afi ieast�en {1�} days priar written no�tEce to Lender. Each insurance policy also sha�l include an endarsemen� pro�id�ng that cv�erage in�avvr vf Lender wii� nofi be impaired in any way by any act, omission or defiauf�vf Trustor ar any vther person. 5hou�d the Real Property be located in an area designated by the Administrator ❑#the Federal Emergency Management Agency as a sp��ial flood hazard area, Trustvr agrees �a ❑btain and maintain Federal Flood �nsurance, if a�ai�able, wi�hin 45 days after not�ce is gi�en by Lend�r that the Proper�y is laca�ed in a specia! flvod hazard area, ��r the full unpaid prin�ipal balance of the l�an and any prior �iens ❑n the property securing �he laan, up to fihe maximum polEcy IFmi�s s�t under the Na�ianal Flood Insuran�e Pragram. o�-as vtherwise required by L�nder, and�o main�ain such insurance for the term o��he�oan. Applica�ivn a#Proceeds, Trus�or shall promp�ly notify Lender of any ioss or damage to�he Properky. Lender may ma�e prvv� o� loss if Trusfivr fails �v da s❑ withEn fifteen �1 a} days a� �he casual�y. VVhether ❑r not Lend�r's security is impaired, Lender may, at Lender's elec�ion, recei�e and re�ain the prv�eeds v�any insurance and apply the proceeds to #he reduc�ivn o�the lndebtedness, payment of any lisn affecting the Praper�y, or the res�ar-atfon and repair of�he Prvperty. if Lender elec�s t❑ apply the proceeds�❑ restora�ian and repair, Trus�or shall repair or replace the damaged ❑r destrayed [mprovemen�s in a manner satisfac�ory ta Lender. Lender shal[, upon safi�s�actory proaf ❑f such expendifiure, pay or r�imhurse Trus�vr frflm the proceeds far -�he reasanabi� cos� ❑f repair ar res��ration i� Trustvr �s no� in defaul� under this Deed of Trust. Any prviceeds which ha�e nv� been dislau�sed within �80 days a�ter their receipt and which Lender has nat commi�ted to �he repair or res�oratian of the P�-vperty shaif be used �irst�v pay any amaunfi ❑wing�v Lender unde�this Deed of Trust, then to pay accrued in�erest, and the remainder, if any, shalE he applied ta the prin�ipal balance af the lndeb�edness. If Lender hoEds any praceeds after paymen� in #ull �f the Indeh�edness, such proceeds shafl be paid fi❑ Trusfior as Trus�vr's interesfis may appear. LENDER'S E�PENDITURES. I� Trustor fails {A} to keep the Property free o� aIl taxes, liens, security in�erests, encumbrances, and other claims, �B� to prv�ide any required insuranc�on�he P�raperty, or �C} to make r�pairs#❑�he Pr-operty then Lender may da so. !f any action or pr�ceeding is cvmmenced tha� w�u�d ma�erially affec� Lender's in�er�sts in the Praperty, �hen Lender vn Trus�ar's behal� may, but �s not required to, take any ac�ian fihat Lender laelieves�� he appropria�e�o protect Lender's interes�s. A!I expenses incurred ar paid by Lender for such purpnses will then bear interest a��he rate charged under the Note�rom�he date incurred ar paid by L�nder t��he date of repayment by Trus�or. Ali su�h expenses wiil becvme a part af�he Indebtedness and, at Lender's vpfiion, wi11 �A} be payable an demand; �B} be added �a -�he ba�an�e ❑f the Note and be appflrtioned among and be payable wi�h any instal�men� payments t❑ become due during ei�her �'�} the term of any applicable insurance pa�icy; or ��} �he remaining �e�m of the Nvte; ar �Cy be treated as a baFloon payment which will be due and payable a�the Not�'s maturity. Th� ❑eed af Trus� alsa wilf secure payment ❑f these am�unts. The rights prv�ided �vr �n�his paragraph shall be in additivn tv any v�her righ�s v� any remedi�s tv which Lender may be entitled on account ❑� any de�aul�. Any such action by Lender sha�l not be cans�rued as �uring the default sv as ta bar Lender�rom any remedy tha�it❑fiherwise would ha�e had. WARRANTY; DEFENSE�F TITLE. The fvll�wing pr��isians rela�ing�o❑wnership of the Prvperty are a par�❑f�his Deed of Trust: Title. Trus�vr warrants that: 4a� Trustor halds good and marketable title of record �o the Property in fee simple, �ree and clear o� ali I�ens and encumbrances v�her fihan those se�forth in the ReaE Prvperty descriptivn or in any title insurance policy, -�i�le report, or -�inal �it�e apinion issued in fa�ar ❑�, and accep�ed by, Lender En cannec�ion wi�h this Deed ❑�Trust, and �b}Trustvr has the full right, pvwer, and authority to execufie and deli�e�-fihEs Deed of Trust tv Lender. Defense vf Ti�le. 5ub�ec��v �he excepti�n En the paragraph a�v�e, Trus�ar warrants and wi�! fareWer defend �he t�tle tv the Properfiy against�he lawful cla�ms of all persons. �n the e�ent any action ❑r proceeding is commenced �hat ques�ions Trustvr's tit�e or the Enteres�o�Trustee or L�nder under�this Deed vf Trust, Trus�vr shall de�end�he action afi Trustor's expense. Trustor may be th� naminal par�y in such pr��eeding, but Lender shaEf be en�i�led to participate in the prviceeding and t❑ he represented in the prviceeding by cvunsef af Lender's own �hvice, and