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2� 1 ����57
<br /> DEEL� C3F TRUST
<br /> ��ontinued} Page 3
<br /> ac�s, in addition to those ac#s set for�h above in this section,which from the chara�ter and use of the Pr�perty are
<br /> reasonabiy necessary to pro�ect and preserve the Property.
<br /> TAXES AND L1ENS. The follvwing provisians rela�ing ta the taxes and liens on �h� Praper�y are par� �'�this Deed ❑f
<br /> Trus#:
<br /> Payment. Trus�or shall pay when due�and in a!1 events prior ta delinquency}a�l taxes,special taxes, assessments,
<br /> char�es (�ncluding Wvater and sewer}, fnes and imposi�ions levied agains# or on account of the Prope�ty, and shalf
<br /> pay when du� all claims �or war� done on ❑r for services rendered or material furnished �o the Prope�ty. Trustor
<br /> shafl maintain the Property free of a!� �iens having priarity o�er or equai�o the interes�af Lender under this Deed of
<br /> Trust, except for the lien of taxes and assessments not due, except for the Exis�ing �ndeb��dness referred to
<br /> below, and except as��herv►r�se prov�ded in this Deed of Trust.
<br /> Right ta Con�Qsf. Trustor may withhold payment af any tax, assessmen#, or c�a�m in connection wi�h a go�d faith
<br /> d�spu�e over�he abii�ation to pay, so iong as Lender's in�erest in�he F'roperty is not je�pardized. lf a lien arises or
<br /> is filed as a resu�t af nonpaymen�, Trustor shall within fif�een �'i 5} days after�he lien arises ar, i�a lien �s fi�ed,
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<br /> within '�ifteen ��5} days af�er Trustor has notice o��he filing, secure the discharge of the lien, or if requested by
<br /> Lender,depos�t with Lender cash or a sufficient corporate sure�y bond or other security satisfactory�o Lend�r�n an
<br /> amaunt suff�cient to discharge the fien plus any costs and attorn�ys'fees, ar othe�charges that could accrue as a
<br /> result❑f a�oreclosure or sal�und�r�he li�n. In any contest, Trustor sha11 defend itseif and Lender and shalf satisfy
<br /> any ad�erse judgment before enforcement against the Proper�y. Trustor sha�l name Lender as an additiana�abiigee
<br /> under any surety bond furnished in the con�est pro�eedings. �
<br /> Eviden�e o�Payment. Trus�or shal� upon d�mand furnish to Lender satisfactory evidence ❑f payment❑f#he taxes
<br /> or assessments and shall authorize the appropriate governmental o�ficial�o deliver�o L�nder at any time a written
<br /> statement❑f the taxes and assessments against the Proper�y.
<br /> Noti�e af Constructian. Trustor shall notify Lender at feast�fif�een �'��} days before any work �s commenced, any
<br /> services are�urnished, or any materiais are suppli�d to the Praperty, if any mechanic`s iien, ma�erialmen's lien, or
<br /> o�her lien �ou1d be asser��d on account of the work, services, or materials. Trustor will upon request of Lender
<br /> furnish to Lender advance assurances satisfactory �o Lender tha� T�ustor can and wil� pay �he cost af such
<br /> impro�em�n�s.
<br /> PROPERTY DAMAGE INSURANCE. The fol{owing proVisions relating to insuring the Pr�perty are a part af this �]eed of
<br /> Trust.
<br /> Maintenance of lnsurance. Tru�tor shalf procure and maintain p�l�cies o�fire insurance wi�h standard extended
<br /> cvWe�age endarsements on a replacement basis for the '�ul� insurable value covering ail lmpro�ements an the Real
<br /> Property in an amount sufficien� to avoid app���ation of any coinsurance clause, and w��h a standard mor�gagee
<br /> clause in fa�or of Lender,together with such o�her hazard and liabili�y insuran��as Lender may reasonably r�quire,
<br /> Policies shall be wri�ten in farm, amounts, coWerages and basis reasonably acceptab�e to Lender and issued by a
<br /> �ompany o�companies reasanably accep#able �o Lende�. Trustor, upon request of Lender, wi{I deliver to Lender
<br /> from t�me'�a time �he poi���es o�ce�ificates of insurance in form satisfactory to Lender, inc�uding s�ipulat�ons that
<br /> �overages wil! no� be cancelled or diminished without at ieast ten �'��} days prior vvritten no�i�e to Lender. Each
<br /> insurance policy also shall include an endorsement praViding that caverage in �avor of Lender will not be impaired
<br /> in any way by any a�t, omission ar d�faulf af Trustor ❑r any other person. Shauld the Real Property be[ocated in
<br /> an area designated by the Admin�st�atar of the Federal Emergency Nlanagement Agen�y as a spec�al flaod hazard
<br /> area, Trustar agrees to obtain and maintain Federa! Fioad Insurance, if available, for the maximum amount of
<br /> Trustor's credi�line and�he ful� unpaid principal halance of any prior iiens on the proper�y�ecuring the loan, up to
<br /> the maximum policy limits set under the National F1ood lnsurance Program, or as o�henn��se required by Lender, and
<br /> to maintain such insu�ance for the term of the loan.
<br /> Applicatian of Proceeds. Trust�r sha�� promptly n��i�y Lender o�any loss or damage'�o the Proper�y. L�nder may
<br /> make proaf of lass if Trustor faifs fio do so v+ri�hin fif�een �'�5} days o�the casual�y. Vllhether or not Lender's
<br /> security is impaired, Lender may, at Lender's e�ec�ion, receive and retain �he proce�ds of any insurance and apply
<br /> the proceeds to the reduction of the fndebtedness, payment of any lien affe�ting the Property, or�he res��raf�on
<br /> and repa�r vf the Proper�y. I�Lender elects to app�y the proceeds to res�ora�ion and repair, Trustor shall repair ar
<br /> replac� the damaged o� destroyed impro�ements in a manner satEsfac�ory to Lender, Lender shall, upon
<br /> satis�actory proof of such expenditure, pay or reimburse Trus�or �rtim the prviceeds for the reasonable cas� ❑�
<br /> repair ar restorat�on if Trustor is not in default under this Deed of Trust. Any proceeds which have not been
<br /> disbursed wi�hin 1 SO days after their receipt and which Lender has not committed to the repair ar restorat�on of
<br /> the Prape�ty sha{1 be used f rst'�o pay any amount aw�ng ta Lender under this Deed a�Trust,then to pay acc�ued
<br /> interes�, and the remainder, if any, shal� be appiied to the principal baian�e of the lndeb�edness. If Lender holds
<br /> any proceeds af�e� payment in full of the �ndebtedness, such proceeds shall �e paid to T�ust�r as T�ustor's
<br /> �n�eres�s may appear.
<br /> Complian�e with Exist�ng �ndebtedness. Dur�ng the per�od in which any Existing Indebtedness described below is
<br /> in effect, compiiance with the insurance provisions contained in the instrument e�idencing such Exis�ing
<br /> Indeb�edness shalf constitute compliance with the insurance provisians under this Deed o� Trust, ta the ex�en�
<br /> compliance with �h� terms ❑f this Deed of Trust would constitu�e a duplication of insurance requirement. lf any
<br /> proceeds#ram the insurance became payable on 1oss, �he provisions in this ❑eed af Trust for division of proceeds
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