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2� 17��8�7
<br /> DE�D �F TRUST
<br /> [�ont[nued} Page 3
<br /> Duty #a Prot�ct. Trustor agrees n�ither to abandon ar lea�e unat�ended the Property. Trustor shal! dv all other
<br /> acts, in addi��on �o those acts set farth abave in this section, which from the character and use of the Proper�y are
<br /> reasonabiy necessary to protec�and pres�rve the Praperty.
<br /> TAXES AN❑ LIENS. The fo�lowing pro�isions relating to the taxes and liens on the Property are part o��his ❑eed of
<br /> Trust:
<br /> Payment, Trustar shall pay when due �and in all e�ents pria�to delinquency}a[I taxes, sp�cia�taxes, assessmen�s,
<br /> charges ��nc�uding water and sewer}, fines and '[mpasitions levied against or on accoun� o�the Prop�r�y, and sha�l
<br /> pay wh�n due all c[aims �or work done an or far serv�ces rend�red or ma�erial furnished to the Prop�rty. Trus�or
<br /> shall maintain �he Property free vf a!1 liens ha��ng prio�ity Q�er or equal to the interest of Lender under this Deed vf
<br /> Trust, except for the �ien of taxes and ass�ssments nv� du� and except as otherwise pro�ided �n this Deed o�
<br /> Trust.
<br /> Right#a Can�est. Trustor may withho�d payment�f any tax, assessment, or claim in cannection with a goQd faith
<br /> dispute o�er the obligation to pay, sa lang as Lender's interest in the Proper�y is nflt jeopardi�ed. [�a lien arises or
<br /> is fiied as a resuE� a� nonpayment, Trustor sha[! wi�hin ffteen �'��} days after the li�n arises �r, if a [ien �s f[�d,
<br /> within fifteen {15} days afker Trustar has na#ice o�the fling, secure the discharge of�he lien, o� if reques�ed by
<br /> Lender, deposit with Lender cash or a sufficient corporate surety bond or oth�r secur�ty satisfac�ary tv Lender in an
<br /> amount sufficient�o discharge�he lien plus any costs and attorneys'fees, or other charges that cvu�d accrue as a
<br /> result of a�oreclosure or sale under�he lien. ln any cant�s�, Trustor shall defend i�self and Lender and shall sa#isfy
<br /> any adverse judgmen#be�are enforcement against the Prvperty. Trus�or sha![ name Lender as an additional obl�gee
<br /> under any sure#y bond furnished in#he contes�proceedings.
<br /> E►►idence a�F Paymenfi. Trustor shall upan demand furnish �o Lender satisfactory e�idence of payment of�he taxes
<br /> or assessments and sha1� authar�ze the appropriate go�rernmen�al official �o deli�er to Lender a�any ��me a w�i�ten
<br /> s�a�ement vf�he taxes and assessments against the Property.
<br /> Notice o�Constru�tion= Trustor sha�l notify Lender at leas�fifteen {�i�} days before any wflrk is commenced, any
<br /> services are furnished, or any mate�ia�s are suppl�ed ta the Prope�ty, �f any m�chanic's lien, materia[men`s lien, or
<br /> other lien could b� assert�d nn accaunt o�the work, services, or materials. Trustor wilf upon request of Lend�r
<br /> furnish �o Lende� ad�ance assurances satisfactory t� Lender that Trustor can and wil� pay the cost o�f such
<br /> impra�emen�s.
<br /> PR�P�RTY DAMAGE INSURANCE. The '�ollowing pro�isions �elating�o insuring the Pr�per�y are a part of this Deed of
<br /> Trust.
<br /> 11J1aintenance of Insurance. Trustor shal! procure and maintain po�icies �f fir� insurance with s�andard extended
<br /> co�erage endorsements on a replac�men� basis far�he full insurable �a[ue ca�er�ng al! Impro�ements an the Real
<br /> P�operty in an amount sufficienfi to a�oid application of any coinsurance clause, and with a standard mortgagee
<br /> c[ause �n fa�or of Lender, �oge�her with such other hazard and�iability insurance as Lender may reasonably�equ�re.
<br /> Po�i�ies shal[ be written in form, amounts, co�erages and basis reasonab�y accep�able to Lender and issue� by a
<br /> campany or companies reasonably acceptable �a Lender. Trustor, upon reques� o� Lender, wil� d�li�e�to Lender
<br /> from time to#ime the policies or cer�ificates of insuran�e in farm satisfac�ory�to Lender, �nc[uding s�ipulations�ha�
<br /> �o�erages wil! not be cancelled vr diminished with�ut at leas�ten ��10} days prior written rto�ice �o Lende�. Each
<br /> insurance po�icy also shall include an endorsement pro�iding that co�erage in fa�or af Lender vuill no� be impaired
<br /> in any way by any act, omissi�n or default of Trustor or any a�her persQn. Should �he Real Property be lacated in
<br /> an area designated by the Admin�s�rator v�the Fede�a� Emergency Managemen�Agency as a specia� flo�d hazard
<br /> area, Trustor ag�ees to obtain and main�ain Federal Flood lnsurance, if a�ailab�e, for �he maximum amoun� of
<br /> Trusto�'s credit��ne and �he full unpaid principal balance��any prior[iens on the praperty securing the laan, up fo
<br /> the maximum policy�imi�s set under the National Flood Insurance Program, or as otherwise required by Lender, and
<br /> to main�ain such insurance far the fierm of the Ioan.
<br /> Appl�cation nf Proceeds. Trustor shall prompt[y notify Lender of any loss or damage ta the Praper�y. Lender may
<br /> make proof o� loss if Trustor fails to do so wi�hin fifteen �'��} days of the casuaity. 1llJhether or nat Lender's
<br /> security is impaired, Lender may, at Lender`s election, receiv� and re#ain the proceeds af any insurance and apply
<br /> the proceeds to the reduc#ian o�the Indeb�edness, paymen� ot any �ien affe�ting the Property, or the restflratian
<br /> and repair of the Proper�y. [�f Lend�r elec�s to app�y the proceeds to res#ora#�on and repair, T�ustor sha�l repair or
<br /> rep�ace #he damaged ❑r destroyed �mpro�ements in a manner satisfac�ory to Lender. Lender sha��, upon
<br /> satisfactary p�aof of such expenditure, pay or reimburse Trustar fr�m the proceeds �or th� reasonabie cost af
<br /> repa�r o� restaration if Trustor is n�t in default under this ❑eed of Trus�. Any proceeds which have not been
<br /> disbursed within 1 S� days after their receip� and which Lender has nflt committed tv #he repair o� restora��on of
<br /> the Prvperty shafl �e used first�o pay any amount vwin� ta Lender unde�this Deed af Trust, then �o pay accrued
<br /> in�erest, and the rema�nder, if any, shal! he applied to the principal balance n�the �ndebtedness. lf Lender halds
<br /> any proceeds a�ter payment in full of the Inde�t�dn�ss, such praceeds shall be paid to Trustvr as Trustor's
<br /> inte�es�s may appear,
<br /> LENDER'S EXPENDITIlRES. If Trustar fails (A} �o k�ep �he Proper�y �ree of a[1 tax�s, liens, security interes#s,
<br /> encumbran�es, and other claims, {B} to provide any required insurance on�he Praper#y, or �C} to make repa�rs ta the
<br /> Proper�y then Lender may do so. If any a��ion or proceeding is �ommenced that wauld mate�ialiy affect Lender's
<br /> interests in fhe Prope�ty, then Lender on Trustvr's beha�� may, bu� is not �equ��ed to, take any actian #hat Lender
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