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2� 17�2353
<br /> �EE�a oF T�usT
<br /> Loan No: 'I C�13�4�3'I �Cantinued� Page 4
<br /> is fii[ed as a resul� of nonpaymeht, Trus�vr shal[ withtn fif�een {15y days after the lien arises ❑r, i�f a li�n is filed,
<br /> within fif�een ��5} days affi�r Trustor has noti�e of the filing, secure the dis�harge af the lien, or if r�quested by
<br /> Lender, depasit with Lender cash or a suffiicient corpora�e surety bond ❑r vther secu��ty sa�isfac�ory�o Lender in an
<br /> am�unt su�ficient ta discharge the lien plus any costs and at�vrneys' fees, ar o�her charges that could accrue as a
<br /> result vf a foreclosure or sa�e under the lien. In any cantes�, Trustor shall defend i�self and Lender and shall satisfy
<br /> any ad�erse judgment b�fare enforcemen�agains��he Property. Trustor shall name Lend�r as an additi�nal �bligee
<br /> under any sur��y h�nd fiurnished in�he can�es�proceedings.
<br /> E�idence of Paymen�. Trustor shall upon demand �urnish �a L�nder satisfacto�y e�idence o� payment ❑f�he taxes
<br /> ❑� assessments and shall au�horize the apprapria�e go�ernmental official to deli�er ta Lender at any �ime a wri��en
<br /> statemen�k of�he�axes and assessments agains��he Prvper�y.
<br /> Noti�e of Constructian. Trus�or sha�I notFfy Lender at ieast�iff�en �1 5} days befare any w�rk is commenced, any
<br /> ser��ces are furnished, ar any materia�s are supplied �o �he Property, i� any mechanic's lien, ma�erialmen`s lien, ❑r
<br /> other lien could be asser��d vn accoun� of the w�rk, ser�i�es, ar ma�erials. Trustor will up�n requesfi vf Lender
<br /> furnish to Lender ad�ance assurances sa�isfactory to Lend�r that Trustor can and will pay �he cast af such
<br /> improvements.
<br /> PR�PERTY DAMAGE 1NSURANCE. The following pro�isivns relating to insuring the Property are a.par�❑f this ❑eed of
<br /> Trust.
<br /> Main�enance v# lnsurance. Trustor shall procure and mainta�n policies ❑f fire insurance with s�andard extended
<br /> coverage endvrsemen�s on a fair value basis fvr �he full insurab�e �a�ue co�ering all Improvements on the Reaf
<br /> Pr�perty in an amount su�ficient to a�oid app[i�a�ion ❑� any coinsurance �iause, and with a s�andard mortgagee
<br /> clause in fiavor ot Lender. Trustar shall also procure and ma€ntain comprehensi�e general liability insurance in such
<br /> coverage amaunts as Lend�r may request with Trustee and Lender being named as additi�nal insureds in such
<br /> liability insurance pa(i�ies. Additi�nally, Trustor shal� maintain such ather fnsuran�e, including but nat i�mit�d to
<br /> hazard, business interruption, and boiler insurance, as Lender may reasonably require. Palicies shall be written in
<br /> f�rm, amounts, co�erages and basis reasona�ly accep�table t❑ Lender and issued 1ay a company or companies
<br /> reasonably a���p�able -�a Lender. Trustar, upan request ❑f Lender, will deliver �❑ Lender from fi�me to �ime �he
<br /> policies ❑r certi�icates a�insurance in form sa�isfac�ary ta Lender, including stipula�ions that co�erages wi�i not be
<br /> cancelled vr diminished wi-th�ut at leas� �en {��y days priar wri��en no�ice �o Lender. Ea�h insurance policy a(so
<br /> shall inc[ude an endorsemenfi pro�idin� tha�co�erage in fa�or❑f Lender vvill ri�t be impaired in any way by any ac�t,
<br /> amissian ❑r de-�auit ❑f Trus��r Qr any a#her person. Shvuld the Real Property be loca�ed in an area designa�ted by
<br /> �he Administrator of the Federal Emergency Management Agency as a special �lood ha�ard area, Trustar agrees to
<br /> ob�ain and maintain Federal Flood Insurance, i� a�ailable, for the full unpaid principal balance of the loan and any
<br /> prior �iens on �he property s�curing �he loan, up �o the maximum palicy limits set under �he Natianal Flaod
<br /> Insurance Program, or as otherwise required by Lender, and tn maintain such insurance for�he�erm of the loan.
<br /> Applica�ion o� Praceeds. Trusfior shall promptly no�ify Lender o� any lass nr damage �o the Property. Lender may
<br /> make proof o� loss if Trus�or faiis �o do sa within fifteen ��5y days ❑f the casualty. INhe�her ❑r no� Lender's
<br /> securifiy is impaired, Lender may, at Lender's elec�ivn, �ecei�e and re�ain �he proceeds af any insuran�e and apply
<br /> �he praceeds to the redu��ivn of�he Indeb�edness, paymen-� ❑fi any ��en a��e�ting the Praperty, �r �he restoration
<br /> and repair of the Praperty. [f Lend�r elects ta app�y the praceeds �o res�o�-ation and repair, Trustor shail repair �r
<br /> replace the damaged or des�trvyed ImproWements in a manner sat�s�actory tv Lender. Lender shall, upon
<br /> satisfactory proo� o� such expendi�ure, pay or r�imburse Trustor �rvm fhe praceeds far �he reasanable cas� af
<br /> repair or restvra�ian if Trustor is na� in de�au(t under this ❑eed of Trust. Any proceeds which ha�e na� b�en
<br /> disbursed within �8� days a#�er �heir receipt and which Lender has not cvmmitted to the r�pair ❑r restoration a�
<br /> the Property shall be used �irst�o pay any amount owing to Lende� unde��his Deed af Trus�, then ta pay a�cru�d
<br /> interes�, and the remainder, if any, shall be app�ie�I to fihe principa� ba�ance o# fihe Indeb�edness. l� Lender holds
<br /> any proceeds a�ter paymen� in fiull o� the Indebtedness, such proceeds shall be paid tv Trustor as Trust�r's
<br /> in-terests may appea�.
<br /> Trus�or's Report on �nsurance. Upon request❑f Lender, howe�er nat more than ❑nce a year, Trus�or shall furnish
<br /> �� Lender a repar� on each exis�ing pvli�y of insurance shawing: {�� �he name o� the insurer; ��� the risks
<br /> insured; �3} the amoun� af the policy; �4} �he praperty insured, the then �urren'� replacement �alue ❑f such
<br /> property, and the manner of de�ermining that�a[ue; and �5� the expirativn da�e o-��he policy. Trustor sha11, upon
<br /> request�f Lender, ha�e an independent appraiser satis�actory ta Lender de�ermine�he cash �alu� replacement c�st
<br /> nf�he Property.
<br /> LENDER'S EXPENDITURES. !f any action or pro�eeding is commen�ed thafi would matet�ia�ly affect Lend�r's in�eres� in
<br /> �he Property ❑r i�Trustor fails t❑ comply with any pro�ision of this Deed of Trus� ar any Related ❑a�uments, inc�uding
<br /> bu� no� limi�ed �o Trustor's fa��ure �o dis�harge ar pay when due any amaun�s Trus�or is required tv dischar�e �r pay
<br /> under this �eed of Trust�r any Related Documents, Lender on Trustar's beha[�may {bu�shall no� be obliga�ed tv� take
<br /> any action that Lender deems appropriate, including but not limified �o discharging or paying al[ �axes, liens, security
<br /> inferests, encumbrances and ❑�her claims, at any�ime le�ied or pla�ed an�he Property and paying all cvsts far insuring,
<br /> main�aining and pt-eser�ing the Property. All such �xp�nditures incurred vr paid by Lender for such purposes will �rhen
<br /> bear in�eres� at the rate charg�d under the Note �rom the date incurred or paid by Lender �❑ �he date of repaymen� by
<br /> Trusto�. All such expenses wil� becom� a part v� the Indebtedness and, a� Lender's op�ian, wifl tAy be payable an
<br /> demand; {gy be added �o the baiance o� the No�e and he apportioned among and be payable with any installment
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