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2� 1 7�2 891
<br /> vEEv oF T�usT
<br /> Loan i'I�a: 'i Q���34�68 �Cont�nued} Rage 3
<br /> s�cured by this ❑eed o�F Trus�upon th� saie ar trans�er. withou�L�nder's priar written �onsen�t, o�a3l or any part of ths
<br /> Rea� F�raperty, Qr any in�erest in�Che Real Prvperty. A "sa�e ar�ransfer" means�Che con�ey�nce of R�al �rope�ty�r any
<br /> �igh�, ti�ie or in�Cerest in the Rea� Prvper�y; whether �egai. bene�icial ar equitable; whe�her �oluntary or in�Qluntary;
<br /> whether by outrigh� saie, d�ed, inst�llment sa�e cvntraGt, �and cantract, c�ntraGt fvr deed, �easehold in�erest wi�h a
<br /> term grea�er than �hree {3} years, feas�-�ption contr�ct, ❑r by sai�, assignm�nt, or trans�er of any beneficia! interes�in
<br /> or to any �and #rust hQlding tirle tQ the Real Prvp�rty, ❑r by any other me�hod ❑� conveyance ❑f an �n��rest in the R�al
<br /> Proper�y. MoweWer� this vptivn shall nQ� be exercis�d by Lender i� such eacerGise is prvhibi�ed by �ederal la� Q� by
<br /> Ne�rasf�a iaw.
<br /> TA�CE� AND L[EN�. The �allvwing provisi�ns relating to the taxe� and liens �n the Prvp�r�y are par� ���hi� peed af
<br /> T�ust:
<br /> Payment. Trus�or shafi pay when du� �and in a!I eWen�s priQr�o delinqu�ncy} a�l�axes, spec+al taxes. assessmentsr
<br /> �harges �including ►nra�er an� sewer}, �ines and impositian� �e�ied against or❑n ac�nunt❑��he Praper-�y, and shall
<br /> pay when due �l� claim� far work done fln or far ser���es rendered or ma�eriai �urnished to the Praperty. Trus�ar
<br /> shaE! main�ain�he Prv�er�y free�f ail liens ha�ing priarity v��r or equai fio the in�eres�of Lender under�his�]eed o�
<br /> Trust, exc��t for the fien a� taxes and assessmen�s nat due and except as otherwise PraWided in �his Deed ❑f
<br /> Trust.
<br /> Right#o Contes'�, Trustvr may withhoid payment�f any taac, assessmen�, or c�aim in connecti�n v►rith a good fiaith
<br /> disput� ❑�er�h�❑bligatian�� pay, sa long as Lende�'s in�ere��in the Prap�rt�r is not jevpardized. !�a ��en arises❑r
<br /> is �iie�f as a resuit o� nanpa�r�nent, Trus�or shall wi�h�n �ri�e�n {15} days a�ter the lien arises ar, i� a lien is �il�d,
<br /> within �i��e�n ��5y days ��ter Trus��r has no�ice a�the filing� secure the discharg� v��he lien, or if requested by
<br /> Lender, depasi�with Lender cash vr a su�Fticient�ar�ora�e surety bvnd or othe�securi�y satis�ac�ory to Lender in an
<br /> amoun�su##icient�v discharge the iien plus any casts and a��rneys' �ees. or other charges that cvuld a�crue as a
<br /> resuit af a for��losure or���e under�he lien. �n any ca�test, Trust�r sha�l defend its�l�and Lend�r and shall���is#y
<br /> any ad�erse judgmen�before en��rcemen�agains�the Property. Trust�r shail name Lender as an addi�iana!c�bfigee
<br /> under any surety bond�urnished in�h�cont�s�proc�edings.
<br /> E�idence ��Paym�n#. Trustor shall upan demand �urnish�o Lender satis�ac�ary e�idence o�payment of the�axes
<br /> vr assessm�n�s and sha!! �u�horize�he �ppropriate g�uernmen��l ❑f�iciai �v deiiver�o Lender at any t�me a w�it�en
<br /> statement v�the�axes�nd assessments agains�the Property.
<br /> Nat��e af Ganstructi�n. Trustor shai[ n�ti�y Lender at least ti#t�er� {1�� days be�or� any wQrk �s cammen�ed, any
<br /> ser��ces ar� �urnished, ar any materiafs are suppfied to the Proper�y, ��any me�hanic's �ien� ma�erialmen's lien. vr
<br /> ❑�her lien cauld be asserted on accnunt a��he work, serWices, vr materials. Trustor will upon requ�s�a�� Len�ler
<br /> �urnish ta �.�nder ad�ar�c� assuranc�� sa��sfac�r�ry to Lend�r tha� Trus�or can and wili pay �h� cas� vf such
<br /> impro�emen�s.
<br /> PR�3PERTY �AMA�E INSURAN�E. The�ollowing prv�is�ans rela�ing to insuring the Proper�y are a par�ofi this De�d a#
<br /> Tru�t.
<br /> Maintenan�e ai� insuranGe. Trustvr �hal! pracure and main��in palicies a� �ire insurance with ��andard e�c�ended
<br /> co�erage endorsements �n a fair �alue basis �Fvr the fiuil insurable �alue ca�ering aii Impro�emen�s vn the Real
<br /> Pro�erty in an amvunt sufficien� �a avaid appli�a�ion a� any cQinsurance G�ause, and with a stand�rd martg�gee
<br /> �lause in�a�or v�Lender,together wi�h such a�her hazard and iiability ir�surance a� Lender may reasonabiy require.
<br /> Pvli�ies shail be wri��en in form, amounts, co�erages and basi� reasvnably a�cep�ahle to Lender and issu�d by a
<br /> cvmpany ❑r campanies reasonably acceptable �v Lender, Trus�or, upon request v� Lender, wil! deli�er to �.ender
<br /> from time t❑time the po�icies or certi�ica�es ��F insurance in �orm satisfactc�ry�n Lender, including stipula�ians that
<br /> caverages wi!! not ae cancel�ed vr dimir�ished with�ut at �east�en ��Q} d�ys priar wri��en natice �a Lender. E�ch
<br /> insuranc� �aiicy als❑ shall in�Eude an �ndarsement pro�iding tha� co��rage in tawar ❑� Lender wiil nat be impaired
<br /> in any way by any a�t, omissi�n or de�au��of Trustar�r any other person. �hou�d�he Real Proper�y be loca�ed in
<br /> �n area des�gnated by�h� Adminis�r��or o�th� Federa! Emergency Man�gemen�Agency as a s�eci�l flood h��ard
<br /> area, Trustor agrees tv o�tain and main�ain Federal Flo�d Insuranc�, if availab�e, within 45 days a#�e� no�tice is
<br /> g��en iay Lender�hat the �'roper�y is IaGa�ed in a spe�ial #lvvd hazard are�, �or�the full unpaid principal balanGe of
<br /> the Eoan and any priar liens ❑n the praperty securing �he loan� up fa the maximum palicy lirni�s set under �he
<br /> Na�ivnal F��ad Insuran�e �rogram, or as a�herwise �equired hy Lende�, and�a mainta�n such insuran�e fvr the t�rm
<br /> r���he Ioan.
<br /> Application o�Praceeds. Trustar shali prvmptiy nvtify Lender Q�any loss �ar dama�e���he PrQperty. Lender may
<br /> rnake proQ� a�f I�ss if Trus�or fail� to do so withE� �ifte�n �153 days a� the ca�uai�y. VVhe�her or nv� Lender's
<br /> security is impaired, Lender may, at Lender's election. receive and retain�he praGeeds of any insurance and apply
<br /> the praceeds �o the reduc�icrn of th� lndeb�edn��s, paymen� v�F any lien a��ec�ing �he Property, or '�he restor�tivn
<br /> and repair a�r�he Property. if Lender e�ects tv apply tF�e praceeds to restvra�tivn and repair, Tr4stvr shali r�pair vr
<br /> repfa�e the damaged or destroyed ImproWements in a manner satis�actary �v Lender. Lend�r shall. upvn
<br /> satis�ae�ary proaf ofi such expendi�ure, pay vr reimaurse Trus�ar �rvm �h� prace�ds for the reasanable ea�t af
<br /> repair ❑r res�orativn if Trus�or 3s no� in default under this Deed v� Trus�. Any prviceeds which ha�e nnt been
<br /> di�bursed wi�hin �8� day� after their re�eipt and whi�h Lender has nv� cammitted �v �Che repair ar restara��on of
<br /> the Proper�y shall be used first�o pay any amount vv►ring to Lender under this Deed af Trust, then to pay accrued
<br /> int�rest, and the remainder, i� any, sh�ll be applied to the principal balance af the Indebtedness, i� Lender holds
<br /> �ny proceed$ after payment in fu�l ❑f �1�e Indebtedness, su�h p�oce�ds shall be �aid tv Trustor as Trustor's
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