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DEED OF TRUST Loan No: 0001462795 200200585 (Conlinued) Page 2 ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as Truslor has notified Lander in writing prior to doing so and so long as, In Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender may require Trustor to post adequate security or a surety bond, reasonably satisfactory to Lander, to protect Lender's interest. Duly to Protect. Truslor agrees neither to abandon or leave unattended the Property. Truslor shall do all other acts, in addition to those eels set forth above In this section, which hour the character and use of the Property are reasonably necessary to protect and preserve the Property. TAXES AND LIENS. The following provisions relating to the taxes and liens on the Properly are part of this Dead of Trust: Payment. Trustor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including water and sewer), lines and Impositions levied against or on amount of the Properly, and shalt pay when due "I claims for work done on or for services tendered or material furnished to the Properly. Trosier shall maintain the Property free of all liens having priority over or equal to the interest of Lender under this Deed of Trust, except for the lien of taxes and assessment not tlue, except for the Existing Indebtedness referred to below, and except as otherwise provided in this Deed of Trust. Right to Contest. Truster may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the 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, Truster shall within fifteen (15) days after the lien arises or, it a lien Is filed, within fifteen (15) days after Tr uslor has notice of the filing, secure the discharge of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surely bond or other security satisfactory to Lender in an amount sufficient to discharge the hen plus any cosh and attorneys' fees, or other charges that could accrue as a result of a foreclosure or sale under the lien. In any contest, Truslor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Properly. Truslor shall name Lender as an additional obligee under any surety bond furnished In the contest proceedings. Evidence of Payment. Truster shall upon demand furnish to Lender satisfactory evidence at payment of the lazes or assessments and shall authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against the Properly. Notice of Construction. Truslor shall notify Lander at least flheen (15) days before any work Is commenced, any services are furnished, or any materials are supplied to the Property, If any mechanic's lien, materlalmen's lien, or other lien could be asserted on account of the work, services, or materials. Truster will upon request of Lender furnish to Lander advance assurances satisfactory to Lender that Trustor can and will pay the cost of such improvement. PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a pad of this Dead of Trust. Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on a fair value basis for the full insurable value covering all Improvements on the Real Properly in an amount sufficient to avoid application of any coinsurance clause, and with a standard mortgages clause In fever of Lender, together with such other hazard and liability insurance as Lender may reasonably require. Policies shall be written in form, amount, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Trustor, upon request of Lander, will deliver to Lander from time to time the policies or certificates of insurance in form satisfactory to Lender, Including stipulation that coverages will not be cancelled or diminished without at least thirty (30) days prior written notice to Lender. Each insurance policy also shall Include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act, omission or default of Trustor or any other person. The Reel Property is or will be located In an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area. Truslor agrees to obtain and maintain Federal Flood Insurance, if available, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such Insurance for the term of the loan. Application of Proceeds. Truslor shall promptly notify Lender of any loss or damage to the Properly. Lender may make proof of lass If Truslor fails to do so within fifteen (15) days of the casualty. Whether or not Lander 'a security is impaired, Lender may, at Lender's election, receive and nation the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property, or the restoration and repair of the Properly. It Lender elects to apply the premeds to restoration and repair, Trustor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon satisfactory proof of such expenditure, pay or reimburse 'I'under from the proceeds for the reasonable cost of repair or restoration if Trustor is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 180 tlays sfter their receipt and which Lander has not committed to the repair or restoration of the Properly shall be used first to pay any amount owing to Lender under this Deetl of Trust, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balance of the Indebtedness. If Lender holds any proceeds after payment in full of the Intlebledness, such proceeds shall be paid to Trustor as Trustor' interests may appear. Unexpired Insurance at Sale. Any unexpired insurance shall inure to the benefit al, and pass to, the purchaser of the Property covered by this Deed of Trust at any trustee's sale or other sale held under the provisions of this Deed of Trust, or at any foreclosure sale of such Property. LENDER'S EXPENDITURES. If Truslor fails (A) to keep the Property free of all taxes, liens, security Interests, encumbrances, and other claims, (D) to provide any required insurance on the Property, or (C) to make repelrs to the Property then Lender may do so, It any action or proceeding Is commenced that would materially affect Lender's interests in the Property, then Lander on Truster's behalf may, but Is not required to, take any action that Lander believes to be appropriate to protect Lender's Interests. All expenses incurred or paid by Lender for such purposes will then bear Interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repaymmil by Trustor. All such expenses will become a pad of the Indebtedness and, at Lender's option, will (A) be payable on demand; (D) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; Or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of Trust also will secure payment of these amounts. The rights provided for In this paragraph shall be in addition to any other rights or any remedies to which Lander may be enlilled on account of any default. Any such action by Lander shall not be Careful as curing the default so as to bar Lender from any remedy that it otherwise would have had. WARRANTY; DEFENSE OF TITLE. The fallowing provisions relating to ownership of the Property are a part of this Dead of Trust: Title. Truslor warrants that (a) Trustor holds good and markelable title of record to the Property in fee simple, free and clear of all liens and encumbrances other than those set forth In the Rail Properly description or in any title insurance policy, title report, or final title opinion issued in favor ol, and accepted by, Lender in connocHon with this Dead of Trust, and (b) Trustor has the full right, power, and authority to execute and deliver this Deed of Trust to Lender. Defense of Title. Subject to the exception in the paragraph above, Truster warrants and will forever defend the title to the Property against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor'S title or the interest of Trustee or Lander under this Deed of Trust, Trustor shall defend the action at Truslor's expense. Truslor may be the nominal party In such proceeding, but Lander shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice, and Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may request Imo time to time to permit such participation. Compliance With Laws. Truslor warrants that the Property and Trustor's use of the Property complies with all existing applicable laws, ordinances, and regulations of governmental authorities. Survival of Promises. All promises, agreements, and statements Truslor has merle in this Deed of Trust shell survive the execution and delivery of this Deed of Trust, shall be continuing in nature and shall remain in full force and effect until such time as Trusair's Indebtedness is paid in full. CONDEMNATION. The following povisions winling to condemnation procaetlings are a part of this Deed of Trust: Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lander in writing, and Trustor shall promptly take such steps as may be necessary to defend the action and obtain the award. Truslor may be the nominal party in such proceeding, but Lender Shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice, and Truslor will deliver or cause to be delivered to Lander such instruments and documentation as may be requested by Lander from time to time to permit such participation.