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2� 1 ��� 152
<br /> DEEa �F TRUST
<br /> � ��ontinued} Page 3
<br /> Duty ta Protect, Trustor agrees neither to abandon or lea�e unattended the Proper#y. Trus�or sha�l do alf o�her
<br /> a�ts, in addition to those acts se�forth ab�ve in this section,which fram the characfer and use of th� Prope�ty are
<br /> reasonably necessary#o protect and preserve�he Prape�ty.
<br /> TAXES AN D L1ENS. The fa[[owing provisions relating �o #he#axes and �iens on the Property are par� of th Es Deed of
<br /> Trust:
<br /> Paym�nt. Trusto�shall pay when due tand in afi events prior to delinquency}all taxes, special taxes, assessments,
<br /> cha�ges �in�lu�ing water and sewer}, �ines and impo�it�ons le�ied aga�nst or an account nf the Proper�y, and sha�l
<br /> pay when due a�� claims for work done on or far services �endered or materiaf furnished to the Property. Trustor
<br /> sha�l mainta�n the Pr�perty f�ee of a[l liens having pri�rity o�er or equal ta�he interest af Lender under�his De�d�f
<br /> Trust, �xcept for the lien of �axes and assessments not due, except for the Existing Ind�btedness refer�ed �o
<br /> below, and�xcept as othe�wise pra�ided in this [�eed of Trus�.
<br /> Righ��v Contest. Trustor may withhold paymen�a�any#ax, assessment, or claim in connection w�th a go�d�a�th
<br /> d�spute over the obCigation to pay, so long as Lend�r's inte�est in�he Prop�rty is no�jeapard�zed. !�a �ien arises or
<br /> is filed as a result o� nonpayment, Trustnr shali w�thin fifteen �'f�} days a�ter the lEen arises o�, if a �ien is filed,
<br /> within fifteen �'�5} days after Trus�or has notice of the f ling, secure �he discharge ��the lien, or if reques�ed by
<br /> �ender,depasit w�th Lend�r cash or a suff��ien�corporate surety bond or other security satisfactory to Lender in an
<br /> amaunt sufficient t�d�scharge the lien plus any�as�s and at�orneys' fees, or other charges�hat coufd accrue as a
<br /> result o�a fare�fosure or sale under the lien. In any contest, Trustor shal�defend itse�f and Lende�and shal[satisfy
<br /> any adverse judgmen�before en�orcement aga�nst the Praperty. Trustor shall name Lender as an addEtianal obligee
<br /> under any surety bond furnished in the contest proceedings.
<br /> E�idence af Payment, Trustor shall upon demand furnish to Lender sa�fsfactory evidence o�payment of the taxes
<br /> or assessments and sha[[ authar�ze�he appropriate g�r�ernmenta( o�ficial to de�iver to Lender at any time a w�itten
<br /> statement of the taxes and assessments aga�nst the Property.
<br /> Notice o�C�ns�ru�tion. Trusto�sha(1 natify Lend�r at least fifteen ���} days hefore any wo�k is commenced, any
<br /> services are furnish�d, o�any mate�ials are suppl�ed�o the Property, if any mechanic's lien, ma�erialmen's I�en, o�
<br /> o�her lien could he asser�ed on accoun�of the work, S�CVlC�'S, ar ma�erials. Trustor wilf upan reques# of Lender
<br /> �urnish to Lender ad�anc� assurances satisfactory ta Lender that Trustar can and will pay the cast of such
<br /> impra�ements.
<br /> PR�PERTY DAI'1JIAGE INSURANCE. The fo�law�ng pro�isions re[ating to insuring the Prope�ty are a part o�this ❑eed of
<br /> Trus�.
<br /> Main�enance of Insurance, Trustar shal� pracure and maintain policies of fi�e insurance with standard ex#ended
<br /> coverage endors�ments on a replacement basis for the fu�l insu�ab�e �alue covering all lmprovements on �he Real
<br /> Property in an amount sufficient �o a�oid app[icatian Q� any �oinsurance clause, and wi�h a standard mortgagee
<br /> clause in fa�ar of Lender,tage�her wi�h such other hazard and [iabil�ty insurance as Lender may reasonably r�quire.
<br /> Policies shall be written in form, amounts, coverages and basis reasonably accepta�le to Lender and issued by a
<br /> company o� companies reasanab�y acceptable �o Lender. Trustor, upon r�quest of Lender, wi[i deliver to Lender
<br /> fr�m time to t�me the poli�ies or��r�ificates of insurance�n form satisfactory to Lender, includ�ng s�ipulations that
<br /> coverages wil[ not be cance�led or diminished wi�hou� at least ten �1�) days prio�written noti�� �o Lender, Each
<br /> �nsurance policy als� shall include an endorsement pra�iding �hat ca�erage in fa�or of Lender will nat he impaired
<br /> in any way by any ac�, amissian or de�ault o�Trus�or or any oth�r�person. Should the Real Praper�y be located in
<br /> an area designated by the Administrator of the Federal Emergency Management Agency as a sp�cia�f�ood hazard
<br /> area, Trustor agrees to obtain and maintain Federal Fia�d Insurance, i� availab�e, for the maximum amount of
<br /> Trustor's credi�line and the full unpaid princ�pal balance of any prior liens on the proper�y securing the loan, up t�
<br /> the maximum policy limits set under the National Flood lnsurance Program, �r as atherwise required by Lender, and
<br /> to maintain such insurance�or the term of the loan.
<br /> Applica#ion of Praceeds. Trustor shall promp�[y notify Lender of any iass or damage to the Prop�rty. Lender may
<br /> make proaf of loss i� Trustor fails to do sa within fifteen ��5} days of�he �asua[�y. Vllhe�her ar nat Lender`s
<br /> security is impaired, Lender may, at Lender's �lection, re�eive and retain the proceeds �f any insurance and apply
<br /> the praceeds to �he reduction of the lndebtedness, payment of any [�en affec�ing the Praperty, or the restoration
<br /> and repair of the Proper�y. If Lender elects ta appiy�he proceeds ta restaration and repair, Trusto�shaf[ repair o�
<br /> rep�ace the damaged or dest�oyed Emprovements in a manner satisfactory to Lender. Lender shall, upon
<br /> satisfactory proafi of such expenditure, pay or reimburse Trustor �ram �he proceeds for �he �easonab�e cos� of
<br /> repair or restoration if Trustor is not in defaul� under �his Deed of Trust. Any pr�ceeds which have not been
<br /> disbursed within '�8(] days after their receipt and which Lender has not committed ta the repair or restoration af
<br /> the Proper�y shal[ be used f rs�to pay any amount owing to Lender under this �eed o�Trust, then to pay accrued
<br /> in�erest, and th� remainder, i�any, shal� be a�plied fi� the princip�f balance of the lndebtedness. l� Lender halds
<br /> any p�oceeds after payment in full af �he lndebtedness, such pr�ceeds sha�� be paid to Trustor as Trustor's
<br /> interests may appear.
<br /> Compliance w�th Existing �ndebt�dness. ❑ur�ng the periad in which any Existing Ind�btedness described belaw�s
<br /> in effect, comp[iance with the insurance pravisians contained �n the instrument e�idencing such Existing
<br /> Indebtedness shal{ c�nstitute compliance with the �nsuranc� prn�isions under this Deed o� Trust, ta the exten�
<br /> compliance with the terms of this Deed of Trust wauid constitute a dupli�ation af insurance requirement. I�any
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