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2� 17� 1841
<br /> aEEn oF TRusT
<br /> Lvan Il�lo: '1�'I 3���79 tC�ntlnued� Page 3
<br /> Payment. Trustor shal� pay when due {and in a!� e�ents prior�o deiinquency} a11 taxes, special�axesr assessments�
<br /> charges {including wa�ter and sewer�, �ines and imposit�ons Ievied agains�t�r on account v#the Property� and shall
<br /> pay when due a�� claims for ►rvork done an or for ser�ices rendered vr material fiurnish�d to �he PropeE-ty. Trustor
<br /> sha�l main�ain the Proper�y free of a�l �iens ha�ing priority over ar equa!to the in�terest o�Lender under this ❑eed o�
<br /> T�ust, except for �he l�en o� taxes and assessments not due, ex�ept fvr th� Existing Indebfiedness referred ta
<br /> be�aw, and except as a�herwEse pro��ded in this Deed af Trust.
<br /> Right to Confest. Trus�or may withho�d payment❑f any tax, assessm�nt, ❑r c�aim in connection wi�h a gaad faith
<br /> dispute v�er the vbiigativn�o pay, so long as Lender's �nterest�n the Praperty is not�eapardi�ed. !�a lien arises or
<br /> is fi�ed as a r�sult of nonpayment, T�us�or shall within fifteen {15} days a#�er the lien arises ar, if a lien is filed,
<br /> wi#hin �ifteen {'I 5} days after Trustor has natice ❑�F the �iling. secure �he disGharge ��the �i�n. or i# requested by
<br /> L�nder, deposit wi�h Lender cash or a su�ficient corporat�surety bvnd or other security satisfac�ory ta Lender in an
<br /> amvunt su�#icient tn discharge the lien plus any casts and attorneys' fees, ❑r other charges that could accrue as a
<br /> result of a foreclosure or sale under the �ien. fn any contest,Trustor shal� de�Fend i�se�f and Lender and shall sa�is�y
<br /> any ad�erse judgment before �nfarcement aga�nst the Pr�per�y. Trustor shai! name Lender as an additionai vbligee
<br /> under any sure�y bond fu�nished in�he cantest proceedings.
<br /> E�iden�e of Payment. Trustar sha�E upon demand �urnish ta Lender satis�a�tvey e�idence a�paymen#vf the taxes
<br /> or assessments and sha�l au�hor�ze the apprapria�k� go�ernmentai afficial to deii�er ta Lender at any time a written
<br /> statemen�o�the�axes and assessments against the Praperty.
<br /> Nv#iGe of Cvns�ruction. Trus�or shall nv�i#y Lender at least�fifteen t'[5� days befare any work is commenced, any
<br /> s�r�ices are furnished, or any materials are supplied to the P�vperty, if any mechanic's I�en, materialmen's iien, or
<br /> other lien cou�d he ass��ted on account ot the work, ser�i�es, or materials. Trustor w�lI upon request of Lender
<br /> �urnish ta Lender ad�ance assurances sat�sfactvey t� Lender that Trustor can and wil� pay �he cost af such
<br /> �mpro�emen�s.
<br /> PR�PERTY DAMAGE [NSURANCE. The#flIIow�ng prv�is�ans relating �❑ insuring the Proper-�y are a part o#this Deed of
<br /> Trust.
<br /> Maintenance o# lnsuran�e. Trustar shal! prvcure and ma�ntain pvlicies ❑# �ire insurance with standard extended
<br /> co�erage endorsements on a �air �alue basis �vr the fu11 insurable value co��ring a�! Impravements ❑n th� R�a�
<br /> Praperty En an amount suf��cient tv a�oid appl�cation ❑� any cvinsurance c�ause, and with a standa�rd mortgagee
<br /> c�ause in�a�or vf Lender. Trustor shali also prvcure and ma�nta�n camprehensi�e generaf iiabili�y insu�ance in such
<br /> �o�erage amvunts as Lender may request with Trustee and Lender being named as additional Ensureds in such
<br /> iiabili�y insurance po�icies. Additiona�ly, Trustvr sha�1 maintaEn su�h ❑�her insurance, in�lud�ng but not lim��ed to
<br /> ha�ard, business in�erruptian, and boiler insurance, as Lender may reasonabfy require. Policies shai! b� writ�en in
<br /> #orm� amounts. �v�erages and basts reasvnahiy acceptahle to Lender and issued by a �ompany or cvmpanies
<br /> reasonab�y acceptab�e to Lender. Trustvr, upon reques� o� Lender, wiii deii�er to Lender fram time to tEme the
<br /> poEicies or cer�ificates of insurance �n form satis�actary�o Lender, incfudEng stipulativns that co�erages wiI� nv� be
<br /> cancelled or dEminished wEth�ut at least ten {1�� days prio�r written no�ice tv Lender. Each insuran�e pvlicy a�so
<br /> shall incfude an endorsement pr�viding tha�co�erage in fa�or❑t Lender wil�not be Empaired in any v►ray by any act,
<br /> amissivn or de�ault o�Trus�vr vr any other person. Should the Rea! Praperty be Ivcated in an area designated by
<br /> the AdmEnistra�or o�the Federa� Eme�-gency Management Agency as a special tivvd hazard area, Trus�or agrees to
<br /> vbtain and maintain Federa! Flaad Insurance. if a�ai�abie, for the fui! unpaEd prEncipa[ halance ❑f the I�an and any
<br /> prio� liens on the proper�y securing �he Ivan, up tv the maximum policy iim��s set under the Na�ianal Flaad
<br /> Insu�rance Program, ❑r as o�herwise required by Lender, and#o maintain such insuran�e fvr the term❑�the�oan.
<br /> App�ication of Prviceeds. Trustor shall promptly nvti�Fy Lender af any I�ss vr damage ta the Prvperty. Lend�r may
<br /> make pravfi af loss if Trusfior fails to do s❑ within #ifteen ��5} days ❑� the casuaity. VIlhether ❑r not L�nder's
<br /> security �s impaired, Lender may, at Lend�r's elec�ivn, recei�e and retain the proc�eds ❑f any Ensurance and appiy
<br /> the proceeds �o the reduction ❑f the Indebtedness, payment o� any lien affecting the Prvperty� flr the restoratian
<br /> and repair of the Property. If Lender��ects to apply the praceeds tv restvration and repair. Trustor sha[I repair vr
<br /> replace the damaged or dest�vyed �mpro�ements in a manner satisfactory to Lende�. Lender shal�, upan
<br /> sat�s�aG�ory provf of such expendifiure, pay or reimhurse Trus�or �fram fihe praceeds �or the reasonable �ost o�
<br /> repair ar restora�ivn i� Trus�or is nat in defau�t under this ❑eed of Trust. Any prviceeds which ha�e no� been
<br /> disbursed with�n �8� days after the�r receipt and whi�h Lender has not commit�ed to the repair ar restoration vf
<br /> the Praperty shall be used firs�to pay any amvunt awing to Lender under this aeed flf Trust, then to pay accrued
<br /> interest, and the remaEnder, if any, shaf� be applied t❑ �he principai balance vf the lndeb�edness. �� Lender ho�ds
<br /> any proceeds af�er payment En full o�F the lndebtedness� such proceeds sha11 be paid to Trus�or as Trustor's
<br /> interests may appear.
<br /> Trustvr's Repor#on lnsurance. Upon reques�af Lender. hawever no� more than on�e a year, Trustor shall furnish
<br /> to L�nder a repart an each existing po[icy ❑f �nsurance shawing: ��} the name of the insurer; ��� the risks
<br /> insured; �3} the amount o� the policy; {4} the property insu�ed, �the then current repfacement va[ue of such
<br /> proper�y, and the manner o�de�ermining that value; and �5} the expiration date of the pa�icy. Trustor shall. upon
<br /> request o�Lender, ha�e an independent appraiser satisfac�rvey�v L�nder de#e�-mine the cash�alue rep�acement cast
<br /> o�the Property.
<br /> LENDER`S EXPENDITURES. �� any action or proceeding is c�mmenc�d that wouid ma�teria�ly affect Lender's interest in
<br /> the Praperty or i�T�ustor faiis ta comply with any prv�ision a�this Deed of T�rust or any Re[at�d Documents, inciuding
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