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2� 1 ��31 �7
<br /> ���� �� �����'
<br /> ���ar�t�r�u��} ���� �
<br /> reasonab�y necessary to p�otect and preserve the Praper#y.
<br /> TAXE� AND L1ENS. The fiollow�ng pr�visions relating to �he �axes and �iens on the Proper�y are pa�t vf#his ❑eed ��
<br /> Trust:
<br /> Payment. Trustor shall pay when due �and in a11 e�en#s prior�o delinquency}ai1 taxes, special taxes, assessmen�s,
<br /> cha��es �including wa�er and sewe�}, fnes and impositi�ns �e�ied agains# or on accaunt flf the Proper�y, and shal[
<br /> pay when due all �laims for wor�k done an Qr far seniices rende�ed or material furnished to th� Property. Trustar
<br /> sha�! maintain �he Proper�y fr�e of all l�ens having priority o�e�or�qua�to�h�interest of Lende�under this Deed ofi
<br /> Trus�, except far th� [ten of taxes and assessm�nts no� due, except for the Existing lnde�tedness referred to
<br /> �el�w, and except as a�henrvis�prQ�ided in this❑eed of T�ust. . � �
<br /> Righ�ta Cont�s�. Trus�or may withhold payment af any tax, assessmen�, or c�aim in connectian wi#h a gaod�aith
<br /> dispute o�er the abligat�on �o pay, so long as Lender's interest�n �he Property is nat�eapa�di�ed. If a �ien arises nr
<br /> is filed as a result o� nonpayment, Trusto�sha�l �vi�hin fft�en ��5} days after the lien arises or, i�a lien is filed,
<br /> w��h�n f�fteen [15} days af�er T�-us�or has notice o� the f1€n�; secur� the discharge o�the lien, ar if requested by
<br /> L�nder,deposit wi�h Lender cash ❑r a sufi#icient ca�porate surety bond or other security satisfa�t�ry#o Lender in an
<br /> am�unt sufficient�o discharge the lien plus any casts and a##orneys'fees, or other charges that cou�d accru� as a
<br /> resuit af a foreclosure or saie under.=�he�ien. In any contest, Trustor shall defend i�self and Lender and sha11 satisfy
<br /> any ad�ers�judgment bef�re enfot�eement against th� Prop�rty. Trustar shall nam�Lende�as an additional obligee
<br /> under any surety band furnished in the contes�proceedings.
<br /> Eviden�e of Payment. Trus���shall upon demand furnish to Lender satis�Factary e�idence of payment o��he taxes
<br /> or assessments and shall authorize the appropria�e g��e�nmental �fficia�to deliver t� Lender af any time a writ�en
<br /> s#atement of�he faxes and ass�s�ments against th� Prnperty. �
<br /> Notice �f Cons�ruc#ivn. Trustor shalf no�i� Lender a# I�ast�if�een �15} days be�ore any work is commenced, any
<br /> services are furnished, or any materials are supplied to fhe Prap��ty, if any mechan�c`s l�en, ma�erialmen's li�n, or
<br /> other lien cou�d he asserted an account o�the wark, servic�s, or ma��r�als. Trustar w�l� upon r�quest of Lend�r
<br /> fu�nish to Lend�r advance assurances sa#is�actory ta Lender tha� Trust�r can and wi�1 pay #h� cost o� such
<br /> impro�emen�s.
<br /> PRflPERTY DAMAGE INSURANCE, The followin� pra�isions relatinq ta insur�nq �he Praperk�are a parfi o�th�s Deed of
<br /> Trus#.
<br /> � Maintenance vf Insurance, T�us�or shall procure and ma�ntain po[icies af fre insurance virith standard extended
<br /> ca�erage endorsemen�s on a r�placemen� basis for the full insurab�e �alue Go��ring a[I Impro�ements on the Rea�
<br /> Properky in an amount suffic�ent to a�oid applica�ion o�any cansurance c�ause, and wi�h a s�andar�_morkgagee
<br /> c�ause i�fa�or of Lender,�og�ther wi�h such other hazard and�iability insurance as Lender may reasonab�y�equire.
<br /> Pviicies shai[ be wri�ten �n form, amounts, co�erages and basis �easanably acceptab�e �o Lender and issued by a .
<br /> company ar �ompanies reasonab[y acceptable to Lender. Trustar, upan request of Lender, wil� de�iver�o Lender
<br /> �r�m time�a t�me �he pol�cies vr��rtificates o��nsurance in �a�m satisfacton�ta Lender, includ�ng stipu�atians tha�
<br /> co�erages will nat be�ancelled or diminished w�thou� at least ten ���) days pr�or written notic� �o Lende�. Each
<br /> insuran�e po�icy als� sha�1 include an endorsement pr�o�t�ing �hat coverage in fa�or a�Lender will no�be impa�red
<br /> in any way by any act, ❑missian or defaul�o�Trustor ar any o�he�p�rson. 5h�uld the Real Proper�y �e�ocat�d in
<br /> an area designated by the Adminis#ra�or o�the F�dera� Emerg�n�y Management Agency as a specia�flood ha�ard
<br /> area, Trustar agrees to ob#ain and main#a�n F�deral Flood Insuran�e, if a�ailab�e, fo� �he maximum amoun� of
<br /> - Trus�or's �redit line and the full unpai� principal balanc�af any prio�liens on the property securing the loan, up to
<br /> the rriaximum po�icy I�mits set under�he Nationa� Fiood In�urance Pragram,ar as o�herwise requi��d by L�nder, and
<br /> � ta mainta�n such insurance far the te�m o�the loan.
<br /> App�ication of Pro�eeds. Trus#or shall prampfily no�i�Fy Lender a�any lass or damage�a the Property. Lender may
<br /> make proof of loss if Trustor �a�ls to do sa wi�hin �ifteen �'I�} days o��he �asualty. 1l11h�th�r ar not Lend�r's
<br /> security is impaired, L�nder may, a� Lend�r's elec#ion, recei��: and retain the proceeds af any insu�anc� and apply
<br /> the praceeds �o the reduc�ian of�he Indebtedness, payment of any lien a�fiecting th� Property, a�th� �estaratian
<br /> and repair o�the Property. !�Lender elects �o apply#h� pr�ceeds to res�ora#ion and repair, Trustor shall r�pair or
<br /> replac� the damaged or destrayed Im�ro�ements in a manner sat�sfactory to Lende�. Lend�r shall, upan
<br /> satisfactory proof of such expenditur�, pay or reimbu�se Trustor �rom the praceeds far the reasonab�e cost �f
<br /> repair �r �es�ora��on �� Trus#ar is no# in defaul� und�r this Deed o� Trus�. Any p�oceeds which ha�e no� be�n
<br /> disbursed within '18� days af�er �heir �ec�i�t and which Lender has not committ�d to the �epair or restoration ❑f
<br /> �he Property sha�l be used �irst fio pay any amoun#aw�ng to Lend�r under�h�s Deed of Trust, then �o pay ac�rued
<br /> inte�est, and the remainde�, if any, shal� �e appi�ed �� the pr�ncipal �aian�e of the Ind�b�edness. I�Lender hoids
<br /> any proceeds after payment in fu�! �f the Indebtedness, such praceeds shai! be paid to Trust�� as Trusto�'s
<br /> interests may appear.
<br /> Gompliance wi#h Exist�ng Indebtedness. During the per�od in which any Existing indebtedness described be[ow is
<br /> in effec�, compiiance w��h fhe insurance prn��sions �tintained in the instrum�n� e�idencing such Exis#ing
<br /> �ndebt�dness shal! constifiut� comp�iance wi�h the insurance p�ovfsians under this Deed of Trust, to th� extent
<br /> �omp[�anc� with the ��rms af this ❑eed of Trust would cons�i�u#e a duplica�ion ���nsurance requirem�nt. �f any
<br /> praGeeds�r�m the insurance become payabie�n foss, the pro��sivns in fihis Deed of Trus�far di�isian o�proceeds
<br /> shall app�y only to that portian ❑�the��oc��ds not payabl�to the hoide�of the�xistin� indebtedn�ss.
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