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DEED OF TRUST 200302070
<br />Loan No: 1657469 (Continued) Page 2
<br />Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and regulatione, n
<br />hereafter in effect, of all governmental authorities applicable to the use or occupancy of the Property, including without limitation,, the
<br />Americans With Disabilities Act. Truster may contest in good faith any such law, ordinance, or regulation and withhold nampllance
<br />during any promad'mg, including appropriate appeals, so long as Trustor has notified Lender In writing prior to doing so and an long a
<br />In Lender 'a sole opinion, Lender's interests In the Property are not jeopardized. Lender may require Trustor to post adequate eecprdy
<br />or o surety bond, reasonably satisfactory to Lender, to protect Lender's Interest.
<br />Duty to Protect. Trustor agrees neither to abandon or leave unattended the Property. Trustor shall do all other acts, in addition to
<br />those acts Set forth above in this section, which from the character and use of the Property are reasonably necessary to protect and
<br />preserve the Property.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust
<br />Payment. Truster shall pay when due land in all events prior to delinquency) all taxes, special taxes, assessments, charges (including
<br />water and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done
<br />on or for services rendered or material furnished to the Property, Truster shall maintain the Property free of all liens having priority
<br />over or equal to the interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except as
<br />utherwlsc provided In this Dead of Trust.
<br />Right to Contest. Trustor may withhold payment of any tax, assessment, or claim In connection with a good faith dispute over the
<br />obligation to pay, so long as Lender's Interest In the Property Is not jeopardized. If a lien arises or is filed as a result of nonpayment,
<br />Trustor shall within fifteen 115) days after the lien arises or, if a lien is filed, within fifteen (15) days after Trustor has notice of the
<br />hang, secure the discharge of The lien, or if requested by Lander, recast with Lender cash or a sufficient corporate surety bond or
<br />other security salistaclpry to Lender In an amount sufficient to discharge the lien plus any costs and attorneys' fees, or other charges
<br />that could accrue as a result of a foreclosure or sale under the lien, In any contest, Trustor shall defend itself and Lender and shall
<br />satisfy any adverse judgment before enforcement against the Property. Trustor shall name Lender as an additional obligee under any
<br />surety bond furnished In the contest proceedings.
<br />Evidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and
<br />shall authorize the appropriate governmental official to deliver to Lender at any tune a written statement of the taxes and assessments
<br />against the Pruperty.
<br />Notice of Construction. Trustor shall notify Lender at least fifteen (15) days before any work is commenced, any services are
<br />account o o any materials are or supplied to the Pruperty. If any mechanic's lien, material man's den, or other Ilan could
<br />nce s asserted on
<br />account of the work, services, or materials. Trustor will upon request of Lender furnish to Lender advance assurances satisfactory to
<br />Lender that Trustor can and will pay the onat of such improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage
<br />endorsements on a fair value basis for the full Insurable value covering all Improvements on the Real Property in an amount sufficient
<br />to avoid application of any coinsurance clause, and with a standard mortgagee clause In favor of Lender. Trustor shall also procure
<br />and maintain comprehensive general liability insurance in such coverage amounts as Lender may request with Trustee and Lender
<br />being named as additional insureds in such liability insurance policies. Additionally, Truster shall maintain such other m
<br />including but not limited to haze N, business Interruption, and boiler insurance, as Lander may reasonably require. Policies shall I,
<br />written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonsely
<br />acceptable to Lender. Truster, upon request of Lender, will deliver to Lender from time to time the policies or certificates of insurer ,¢
<br />in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at least thirty 1301
<br />days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor Cf
<br />Lender will not be Impaired in any way by any act omission or default of Trustor or any other person. Should the Real Property be
<br />sated in an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area, Trustor
<br />agrees to obtain and maintain Federal Flood Insurance, If available, within 45 days after notice is given by Lender that do Property Is
<br />located In a special flood hazard area, for the lull unpaid principal balance of the loan and any prior liens on the property securing the
<br />loan, up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to
<br />maintain SUCK insurance for the term of the loan.
<br />Application of Proceeds. Trustor shall promptly notify Lender of any less or damage to the Property. Lander may make proof of loss
<br />If Trustor fails to do so within fifteen (15) days of the casualty. Whether or not Lender's security is impaired, Lentler may, at Larerr's
<br />action, receive and retain the proceeds of any insurance and apply the proceeds to the redual of the Indebtedness, payment rf
<br />any lien affecting the Property, or the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration i J
<br />repair, Trustor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, up n
<br />satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost of repair or reslorafio If
<br />I rustur is not In default under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their rec, . r
<br />and which Lender has not committed to the repair or restoration of the Property shall be used first to pay any amount owing to Len o..
<br />under this Deed of Trust, then to pay Sucrued interest, and the re aindeq if any, shall be applied to the principal balance of the
<br />Indebtedness. If Lender holds any proceeds after payment In full of the Indebtedness, such proceeds shall be paid m Trustor as
<br />Trustor 's Interests may appear.
<br />Theater a Report on Insurance. Upon request of Lender, however not more than once a year, Trustor shall furnish to Lender a report
<br />each existing policy of insurance ahowing: (I) the name of the insurer, (2) the risks insured; (3) the amount of the policy; (4)
<br />the property insured, the then current replacement value of such property, and the manner of determining that value; and (5) e
<br />expiration date of the policy. Trustor shall, upon request of Lender, have an independent appraiser satisfactory to Lender delerrr. 'rc
<br />the cash value replacement cost of the Property.
<br />LENDER'S EXPENDITURES. If any action nr proceeding is commenced that would materially affect Lender's interest in the Property c If
<br />Trustor fails to comply with any pruvisbn of this Deed of Trust or any Related Documents, including but not limited to Truster 's felluru o
<br />discharge or pay when due any amounts Trustor Is required to discharge or pay under this Deed of Trust or any Related Documents, Leo'..
<br />on Trustor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, Including but not limited -.
<br />dlscharging or paying all taxes, liens, s c urlly interests, encumbrances and other claims, at any time levied or placed on the Property s _I
<br />paying all costs for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purl ,
<br />will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Truster. All
<br />such expenses will become a part of the Indebtedness and, at Lender 'a option, will (A) be payable on demand, IRI be added to fits
<br />balance of the Note and be apportioned among and be payable with any Installment payments to become due during either (1) the leer r f
<br />any applicable Insurance policy: or (2) the re ning term of the Note; or Cl I be treated as a balloon payment which will be due 'd
<br />payable at the Note's maturity. The Deed of T ost also will secure payment of these amounts. Such right shall be in addition to all at' r
<br />rights and remedies to which Lender may be entitled upon Default.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
<br />Title. Trustor warrants that'. le) Trustor holds good and marketable title of record to the Property In fee simple, free and clear of t
<br />liens and encumbrances other than those set forth in the Real Property description or In any title Insurance policy, title report, or f, I
<br />title opinion issued in favor of, and accepted by, Lender In connection with this Deed of Trust, and (b) Trustor has the full rl,
<br />power, and authority to execute and salvor this Dcad of Trust to Lender
<br />Defense of Tide. Subject to the exception in the paragraph above. Trustor warrants and will forever defend the title to the Property
<br />against the lawful claims of all persons. In the event any action or proceeding Is o ced that quealions Trusters title or tits
<br />interest of Trustee or Lender under this Dead of Trust, Trustor shall defend the action et Truster'a expense. Irustor may he fro
<br />nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding
<br />by counsel of Lender's own choice, and Trustur will deliver, or cause to be delivered, to Lender such instruments as Lander may
<br />request from time to time to permit such participation.
<br />Compliance With Laws. Trustor warrants that the Property and Truster's use of the Property complies with all existing applicable
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