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2� 17�� 144
<br /> aEE� oF T�us-r
<br /> ��onti n ued} Page 3
<br /> acfis, in addition to those acts se�fo�th a�oWe in this section,which from �he charac�er and use o�'the Property are
<br /> �easonably necessary to protec�and preserve the Prope�ty.
<br /> TAXES AND LIENS. The following pra�isions relating to the taxes and liens on �he P�oper�y are part of�his Deed of
<br /> Trust:
<br /> Payment. Trustor sha�l pay whert due {and in all e�ents p�ior�o de�inquency}a�l taxes, specia[#axes, assessments,
<br /> charges (including wate� and sew��-}, fines and impos�tions le�ied against ar on accoun� o��he Prop�rty, and sha�l
<br /> pay wh�n due al[ claims �or work done on or�or services rendered or ma�er�af furn�shed fv th� Property. Trustar
<br /> shall maintain the Property free v�a11 liens ha�ing priority over or equal tv �he inte��st o�Lender under this Deed vf
<br /> Trust, except fa� the lien of �axes and assessments not due, except �or the Exis#�ng Indebtedness refer�ed to
<br /> befow, and excep�as atherwise pro�ided in this De�d of Trust.
<br /> Righ#�o Gon�est. Trustor may withho�d payment af arry tax, assessmen�, or claim in connect�on with a good fai�h
<br /> dispute o�er the obiiga�ion t� pay, so Eong as Lende�'s int�r�st in the Prope�ty is not jenpardized. If a lien arises or
<br /> is �iled as a resul� of nonpayment, Trustar shall wi#hin fifteen �1�} days a�ter the [ien arises o�, if a lien �s fi�ed,
<br /> within fifteen �'�5} days after Trustar has no�ice of the filing, secure the discharge o�the lien, or if �eques�ed by
<br /> Lender, deposit wi�h Lender cash or a suff�ient c�rparate sure�y bond or other security satEsfactary to Lender in an
<br /> amount suffcient t� discharge the lien plus any costs and a�torneys'fees, or other charges that could accrue as a
<br /> result vf a foreclosure or sale under the lien. In any contest, Trustor shall d�fend itself and Lender and shafl sa�is�y
<br /> any adverse judgmen�before enfor�ement against the Prope�ty. T�-ustor shall name Lender as an addi�ianal obligee
<br /> under any surety bond furnished in the contest proceedings.
<br /> Evidence of Payment. Trus�or sha�l upon demand furn�sh to Lender satisfactory e�idence of payment o�'the taxes
<br /> or ass�ssments and shall authorize the appropriate ga�ernmen�al officiaf to deli�er to Lender a�any ��me a writt�n
<br /> statement of the taxes and assessments agains�the Property.
<br /> Nofice vf Constructivn. Trustor sha�l no�ify Lender at least fi�teen �'��} days be�ore any work is commenced, any
<br /> services are furnished, or any materia�s are supp�ied tv the Praperty, i�any mechanic's lien, materialmen's I�en, �r
<br /> o�her lien c�uld be asser�ed on account o�the work, services, ar materials. Trustor will upon reques� vf Lender
<br /> furnish to Lender ad�ance assu�ances satisfac�ory t� Lender that Trus�or can and w�li pay �he cost of such
<br /> impro�ements.
<br /> PR�PERTY DAMAGE INSIJRANCE, The �o�l��ing pro�isions rela�ing �o insuring �he Property are a par�of th�s Deed vf
<br /> Trust.
<br /> �I�lain#enance of Insuranc�. Trus�or sha�l procure and main�ain pol�cies of fire insu�ance with s�andard ex�ended
<br /> co�erage endorsements on a repfacemen� basis �ar the �'uil insurabfe �alue co�er�ng all Improvements on �he Reaf
<br /> Property in an amount suffcien� to a�o�d application o� any coinsurance cfause, and with a standard mortgagee
<br /> clause �n fa�or of Lender, tagether with such other hazard and liability insurance as Lender may �easonably require.
<br /> Po�icies sha�l b� written in form, amaunts, coWerages and basis r�asonably accepta�fe to Lender and issued by a
<br /> company or compan�es reasonab�y accep�able ta Lender. Trusto�, upon request of Lender, wili deli�er to Lender
<br /> from time to time the poficies or certi�ica�es of insurance in form satisfactory to Lender, inc�uding stipulatians that
<br /> co�erages vuili not he cancelled or diminished without at least�en (�Q} days prio�written no�ice �o Lender. Each
<br /> insurance policy also sh�l! incfude an endorsemen� providing �hat coverage in fa�ar of Lender wili nat be impair�d
<br /> in any way by any ac�, omission or default o#Trustor or any oth�r person. Shoufd the Real Pr�perty be lo�ate� in
<br /> an area designa�ed by the Administrator of�he Federal Emergency Managem�nt Agency as a special flood hazard
<br /> area, Trustor agr�es �o obtain and maintain Federa� Flvvd Insurance, if avai�able, �or �he maximum amount of
<br /> Trustor's credi� line and �he�'ull unpaid principaf balance o�any pri�r liens on �he properky secur�ng �he loan, up to
<br /> the maximum policy limi�s set under�he Nationa! Flood Insurance Program, or as otherw�se required by Lender, and
<br /> #o maintain such insurance�or the�erm of the loan.
<br /> Appli�ation of Pr�ceeds. Trustor shalf promptly notify Lender af any l�ss or damage to �he Property. Lender may
<br /> make proof of �ass if Trus�or fa��s #o do so within fi�teen �15} days �f �he casual�y. V1lh�ther or not Lender`s
<br /> secur�fy �s impaired, Lender may, a� Lender's �lection, recei�e and retain �he proceeds of any insurance and appfy
<br /> the proceeds to the reductian vf�he Ind�btedness, payment of any lien affecting the Proper�y, or the restorat�on
<br /> and repair v�'the Property. �f Lende�el�cts�o apply �h� proceeds #o restoration and repair, Trustar sha�l repair or
<br /> replace the damaged ar destroyed Impra�emen�s ir� a manner satisfactory to Lender. Lender shal�, upon
<br /> satisfac�ory proof of such expenditure, pay or reimburse Trustor from �he praceeds �or the �easonable cost o�'
<br /> repair ar res�ora��on �f Trustor is not in defau[� under this De�d o�F Trus�. Any proceeds wh�ch have no� been
<br /> disbursed w�thin 'I8❑ days after�heir receip� and wh��h Lender has not commi�ted to the repair or res�oratian nf
<br /> the Proper�y sha�l be used first ta pay any amaunt owing to Lender under this Deed of Trust, then �a pay accrued
<br /> interest, and the rema�nderr i� 8Ci]I, shall be appl�ed �� the principal balance ot the Indebtedness. I�' Lender holds
<br /> any proceeds after payment in fu�1 of �he �ndebtedness, such proceeds sha�l be paid tv Trustor as Trustvr's
<br /> in�erests may appear.
<br /> Comp�iance with Ex'rsting lndebtedness. Dur�ng �he period in which any Exist�ng Indebtedness desc�ibed beiaw is
<br /> in effect, comp�iance with the insurance pro��s�ons contained in the instrument evidencing such Existing
<br /> Indebtedness shall �anstitute complianc� wi�h �he insu�ance pro�isions under this ❑eed of Trust, ta th� extent
<br /> compliance with the te�ms o�th�� Deed of Trus�wauld cnnstitut� a duplica�ion o� insurance requirement. If any
<br /> proeeeds from �he insurance become payable on Iflss, �he pro�isions in �his Deed a�Trust�o�d�vision o#proceeds
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