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2� 17�243�
<br /> C�EED �F TRUST
<br /> �Cont�nue�} Page 3
<br /> reasonably necessary to protect and pr�eserve th� P�operty.
<br /> TAXES AND LIENS. The �oflow�ng pro�isions relating to the taxes and [iens on �he Prope�ty are part of�his Deed of
<br /> Trust:
<br /> Payment. Trus�o�shall pay when due �and in alf e��nts prior to d�:�inquency} all taxes, special taxes, assessments,
<br /> charges �including water and sewer}, fines and imposi�ions le�ied against or on accoun� o�F the Prflper�y, and shal[
<br /> pay wh�n due al! claims ��r work done on or for services render�d or material furnished to the Praper�y. Trustor
<br /> shall maintain �he Praperty free o�af� �iens having priority o�er or equal to the interes�af L�nder unde�this Deed v�'
<br /> Trus�, except far the lien of �axes and assessm�n�s no� due and except as otherwise pra�ided in �h�s Deed of
<br /> Trus�.
<br /> Right ta Gontest. Trustor may withho�d payment of any tax, assessment, ��claim in connection wifh a good �aith
<br /> dispute a�er�he obligation ta pay, sa long as Lende�'s in�erest in �he Property is not jeopardized. lf a fien ar�ses or
<br /> is filed as a result o� nonpayment, Trustor shalf wi#hin f�teen �'15} days after the lien a��ses or, if a lien is filed,
<br /> w�thin fifteen ('[�} days a�ter Trus�or has no�ie� af the filing, secure �he discharge a�the lien, o� if requested by
<br /> Lender, deposit wi�h Lender cash or a sufficien#corpora�e surety bond or other secu��ty satisfac�ory to Lender in an
<br /> amoun�su�ficient�o discharge�he lien plus any costs and attorneys'fees, or other charges that couid accrue as a
<br /> resu�t of a farec�osur�or sale under the f�en. In any cantest, Trus�or sha�!de�Fend i�self and Lender and sha[I satis�y
<br /> any adverse judgmen�before enfarcement agains�th� Proper�y. Trustar shal[ name Lender as an additiona�abii�ee
<br /> under any surety bond furnished in�he contest proceedings.
<br /> E�idence of Paymen�. Trustor shall upon demand furnish to Lender satisfactory e��dence o�'payment a�the taxes
<br /> or assessmen�s and shal! author��e the appropriate goaernmental official to deliver to Lender at any �ime a written
<br /> s�atement of the taxes and assessments against the Proper�y.
<br /> Nat�ce of Constructi�n. Trustor sha�l natify Lender at least�ifteen ('f 5} days before any work is commenced, any
<br /> services are furnished, ar any mater�als are suppfied t� the Property, ��any mechanic's lien, materialmen's l�en, or
<br /> o�her fien could be asserted on accoun� af�he warki SLCVIC�S� or materiafs. Trusto�wi11 upon request of Lender
<br /> furnish to Lender ad�ance assurances satisfac�ory tv Lender tha� Trustar �an and will pay �he cost ofi such
<br /> impro�ements.
<br /> PR�PERTY❑AMAGE INSURANCE. The fofl�wing pro�isions relat�ng to insuring the Property are a part of�his De�d of
<br /> Trust.
<br /> Maintenance of�nsuranc�. Trustor shafl pracure and maintain policies o�fire insurance w�th standard extended
<br /> ca�erage endarsements on a rep�acement basis far the fu�1 insu�able �a�ue covering al� Impro�ements on the Real
<br /> Proper�y in an amoun# sufficier�t to a�oid application vf any coinsurance clause, and with a standard mo�tgagee
<br /> clause in �a�or of Lender, �ogether with such v�her hazard and liability insurance as Lender may �eas�nab[y require.
<br /> Poiicies shall be written in �o�m, amoun�s, co�erages and basis reasQnably accep�abf� ta Lender and issued by a
<br /> �ompany ar c�mpanies reasonably acceptable to Lender. Trus�or, upon request of Lender, wil� deli�er t� Lender
<br /> f�om time to time #he palicies or ce�tifiea�es of insurance in form satisfactary ta Lender, in��ud�ng st�pulations that
<br /> coverages will nat be cancelled or diminished wi�hou� a� �east�en ('i❑} days p�-ior written nn�i�e to Lender. Each
<br /> insurance poficy also shall incfude an enda�sement pro�iding tha� co�erage in fa�or of Lend�r wiIl not be impaired
<br /> in any way by any act, omiss�on or de�auit of Trustar or any other per�son. Sh�uld the Real P�operty be located in
<br /> an area designa�ed by the Administrator vf�he Federal EmergenCy Managemen�Agency as a specia[ fload hazard
<br /> area, Trustor agrees t� obtain and main�ain Federal Flood Insurance, if a�ailable, far the maximum amount vf
<br /> Trustor's credit line and the full unpaid princip�l balance o�F any priar liens on the prop�rty securing the loan, up to
<br /> the maximum p��icy�imits s�t under#he Nationa� Flood Insurance Program, or as other-wise required by Len�er, and
<br /> to maintain such insurance fior the term of the I�an.
<br /> App�ication vf Prac�eds. Trustor sha11 prompt[y notify Lender of any �oss ❑�damage to the Property, L�nder may
<br /> make proof of loss i� Trustor �aifs to da so within fifte�n ('��} days a� the �asualty. Whether or no� Lender's
<br /> secur�ty is impaired, Lender may, at Lender's election, recei�e and retain the proceeds af any insu�ance and apply
<br /> #he proc�eds to the reduction of the Indebtedness, payment af any l�en affe�t�ng the Property, or the res�ora�ion
<br /> and repair o�the Proper�y. if Lender elec�s to appEy#he proceeds �o restvra��an and �epa��, Trus�or shal� repair or
<br /> repface the damaged or destroyed ImpraWemen�s in a manner satisfactary ta Lender. Lender shal�, upon
<br /> satisfactary proof of such expenditure, pay or re�mburse Trustor from the proceeds for �he reasonable cos� a�
<br /> repair or res�oration i� Trus�or is not in defauf� under this Deed of Trust. Any prviceeds which have nat been
<br /> disbursed within '�84 days a�ter their receipt and which Lend�r has nflt commit#ed to the repa�r or restaration af
<br /> the Pr�oper�y shall be used f�rst to pay any amount owing ta Lender under this D�ed of Trus�, then to pay accrued
<br /> interest, and the remainder, if any, shall be app�ied to the principal ba�anc� of the Indebtedness. If Lender holds
<br /> any proceeds a�ter payment in full o�' �he Indeb�edness, such praceeds shal� he paid �o Trusto�- as Trustor's
<br /> �nterests may appear.
<br /> LENDER'S EXPENDiTtJRES. I� Trustor fa�ls �A} to keep the Prope�ty free of a�l taxes, liens, security I�lt��'�5t5,
<br /> encumbrar��e�, �r�d �ther�l��rr�s, �g} �a �rc���de any required insurance on the Proper�y, o� ��} tv make repai�-s�a the
<br /> Praper�y then Lende� may da sa. I� any action ar proceeding is ��mm�nced that would ma�eria�ly affect Lender`s
<br /> interests in the Prope�ty, then Lend�� on Trustor's beha[�' may, but is not required ta, take any act�on that Lender
<br /> believes to be app�opriate to pro�ect Lender's interests. All expenses incurred or paid by Lender fo�such pu�poses will
<br /> �hen bear interes�at the ra�e charged under�he �redi�Agreement from the date incur�red or paid by Lender to #he da�e
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