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DEED OF TRUST
<br />Loan No: 773074 200201544 (Continued) Paget
<br />indemnify shall survive the payment of the Indebtedness and the satisfaction of this Deed of Trust.
<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 (and 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, except for the
<br />Existing Indebtedness referred to below, and except as otherwise provided in this Deed of Trust.
<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. Truster 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 insurance,
<br />including but not limited to hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies shall be
<br />written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably
<br />acceptable to Lender. Truster, upon request of Lender, will deliver to Lender from time to time the policies or certificates of insurance
<br />in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at least ten (10) days
<br />prior written notice to Lender. Each insurance policy also shall include an endorserrant providing that coverage in favor of Lender will
<br />not be impaired in any way by any act, omission or default of Truster or any other person. Should the Real Property be located in an
<br />area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area, Trustor agrees to
<br />obtain and maintain Federal Flood Insurance, if available, within 45 days after notice is given by Lender that the Property is located in
<br />a special flood hazard area, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to
<br />the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such
<br />insurance for the term of the loan.
<br />LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if
<br />Truster fails to comply with any provision of this Deed of Trust or any Related Documents, including but not limited to Truster's failure to
<br />comply with any obligation to maintain Existing Indebtedness in good standing as required below, or to discharge or pay when due any
<br />amounts Truster is required to discharge or pay under this Deed of Trust or any Related Documents, Lender on Truster's behalf may (but
<br />shall not be obligated to) take any action that Lender deems appropriate on the Property and paying all costs for insuring, maintaining and
<br />preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged
<br />under the Note from the date incurred or paid by Lender to the date of repayment by Truster. All such expenses will become a part of the
<br />Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among
<br />and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the
<br />remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
<br />Title. Truster warrants that: (a) Truster holds good and marketable title of record to the Property in fee simple, free and clear of all
<br />liens and encumbrances other than those set forth in the Real Property description or in the Existing Indebtedness section below or in
<br />any title insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of
<br />Trust, and (b) Truster has the full right, power, and authority to execute and deliver this Deed of Trust to Lender.
<br />Defense of Title. Subject to the exception in the paragraph above, Truster warrants and will forever defend the title to the Property
<br />against the lawful claims of all persons.
<br />EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Deed of Trust:
<br />Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to an existing lien. Trustor
<br />expressly covenants and agrees to pay, or see to the payment of, the Existing Indebtedness and to prevent any default on such
<br />indebtedness, any default under the instruments evidencing such indebtedness, or any default under any security documents for such
<br />indebtedness.
<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust:
<br />Payment Default. Truster fails to make any payment when due under the Indebtedness.
<br />Other Default. Truster fails to comply with any other term, obligation, covenant or condition contained in this Deed of Trust or in any
<br />of the Related Documents.
<br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note
<br />or in any of the Related Documents.
<br />Default on Other Payments. Failure of Truster within the time required by this Deed of Trust to make any payment for taxes or
<br />insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br />Death or Insolvency. The death of Truster, the insolvency of Truster, the appointment of a receiver for any part of Truster's property,
<br />any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any
<br />bankruptcy or insolvency laws by or against Truster.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation
<br />party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or
<br />revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness. In the event of a death, Lender, at its option,
<br />may, but shall not be required to, permit the guarantor's estate to assume unconditionally the obligations arising under the guaranty in
<br />a manner satisfactory to Lender, and, in doing so, cure any Event of Default.
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