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DEED OF TRUST 200204932 Loan No: 9002 (Continued) Page 3 shall authorize the appropriate governmental official to deliver to Lender at any time is written statement of Ma taxes end easeeemmta against the Property. Notice of Construction. Trustor si notify Lender at least fifteen (15) days before my work is commenced, my eervicas are furnished, or any materials are scathed to the Property, if any mechanic's lien, mattalarman s lion, or other lien could that asserted on ant of the work, services, or materials. T ..to, will upon request of Lender famish to Lender advance aasurmees satisfactory to Lender that Trustor can and will pay the cost of such Improvisatorial. PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a owl of this Deed of Trust. Maintenance of insarmes. Trustor shall procure and maintain policies of Fro Insurance with standard extendetl coverage endorsements on a replacement basis for the full iasurable value covering all Improvements on the Real Property in an empunt sufficient to avoid ...Haitian of any coinsurance clause, and with a standard mortgagee clause in favor of Lender. Truster shell also procure and maintain comprehensive general liability insurance in such coverage amounts as Lender may request with Trustee and Lender being named as additional insureds in such liability Insurance policies. Additionally, Traitor shall maintain each other insurance, including but not limited to hazard, business interruption, and bodes insurance, as Lander may reasonably require. Policies shall be written in form, amounts, coverages and Inside reasonably acceptable to Lender end issued by a company or companies reasonably acceptable to Lander. Truster, upon request of Lani will deliver to Lender from time to time the policies or certificates of insurance In form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at least ton (10) days prior wraten notice to Lender. Each insurance policy also shall include an andorsement providing that coverage in favor of Lander will 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 area designated by the Director of the Federal Emergency Management Agency as a special flood hazard erect, Tumor agrees to obtain and maintain Federal Road Insurance, if available, within 65 days after notice is given by Lender that Me Property is located in a special flood ha-ord area, for the full unpaid principal balance of the loan and my prior liens on the property lowering the law, 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. Truster shall promptly notify Lender of my loss or damage to the Property. Lender may make proof of loss if Trustor fails to der so within fifteen (15) days of the casualty. Whether or not Lender's security is impaled, Lender may, at Lender s election, receive and retain the proceeds of any .-a..... and apply the proceeds to the reduction of the Indebtedness, payment of any her affo inA the Property . or the restoration and repair of the Property. If Lender elents to apply the proceeds to restoration and repair. Truster 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 Truster from the proceede for the reasonable cost of repair or restoration if Truster la not in default unit., this Dead of Trust. Any proceeds which have not them disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender undo, this Deed of T =, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balonee of the Indebtedness. If Lend., holds any Proceeds after payment in full of the Indebtedness, such proceeds shall he paid io Tractor ea Traitor's interests may appear. Unexpired Insurance at Sale. Any unexpired insurance shall inure to the benefit of, and pass to, the purchaser of fine Property covered by this Deed of Trust at any hunief's sale or other sale held under the provisions of this Deed of Trust, or at my foreclosure sale of such Prnpwty. Traitor Report on Insurance. Upon request of Lender, however not more than once a year, Truster shell furnish to Leader a report on each existing policy of insurance showing: (1) the name of the insurer; (2) the risks insured; (3) the amount of the policy; (a) ilia property insured, the then current replacement value of such property, and the manna[ of determining that value; and (5) the expiration date of the policy. Truster shall, upon request of Lender, have an independent appraiser satisfactory to Lentler determine the cash value replacement cost of the Property. LENDER'S EXPENDITURES. If anv action or proceeding is commenced that would materially affect Lender's interest in the Property or if Truster fails to comply with any provision of this Dead of Trust or my Related Documents, including but not limited to Trustor'e failure to discharge or pay when due any amounts Truster is required to discharge or pay under this Dead of Trust or any Related Documents, Lander n Trusmr's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, .security interests, encumbrances and other claims, at any time levied or placed an the Property and paying all costs for In s m ring, mairmuma , and paervin p the Property. All such expenditures incurred or paid by Lender for -such purposes will then boa iutmest at the rate charged under the Note from the data incurred or paid by Linder to the date of repayment by Truster. All uch expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (5) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during must (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be heated as a balloon payment which will be due and payable .1 the Note's majority . The Deed of Trust also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default. WARRANTY; DEFENSE OF TITLE. The following Provisions relating to ownership of the Property are a part of this Dead of Trust Title. Trustor warrants that: (a) Truster holds good and marketable title of record to the Property in fee simple, free and clear of all liens and encumbrances other than those set forth in the Real Property description or In any title insurance policy, tide report, or final title opinion issued in favor of. and accepted by. Lander in connection with this Deed of Trust and (b) Truster 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 Trushi tide or the interest of Trustee or Lender under this Deed of Trust, Truster shall defend the action at Trusuar's expanse. Truster 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 c sel of Lender's o choice, and Trustor will deliver, or cause to be delivered, to Lander such instruments as Lender may request from tune to time in permit such participation.