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DEED OF TRUST Loan NO: 774252 200206435 (Continued) Vaga3 that could accrue as a result of a foreclosure u sale under the lien. In any contest 1 roster shall defend Itself and Leader and shall satisfy any adverse judgment befom enforcement against the Property. Truster shall name Lender as an additional obligee under any surety bond furnished in the cuntest proceedings. Evidence of Payment. Trustor shall upon demand furnish to Lender satisfantary evidence of payment of the taxes 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 Property. Notice of Construction. Trustor shall notify Leader at least fifteen (151 days before any work Is commenced, any services are I...... Shaer or any materials are supplied to the Property, if any mechanic's lien, materelmen's lien, or other lien could be asserted on account of the work, services, or materials. Trader will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Truster can and will pay the cost of such improvements. PROPERTY DAMAGE INSURANCE. The following provlsions relating to insuring the Property are a part of this Deed of Trust. Maintenance of Insurance. Tractor 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 Property in an amount sufficient in avoid application of any coinsurance clause, and with a standard mortgagee clause in favor of Lender. Toaster shall else procure and n Intain 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, Trustor shall maintain such other insurance, including but not limited to hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies shall be written in farm, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably inceptsble to Lender. Truster, upon request of Lender, will deliver to Lender from time to time the policies er certificates of insurance form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without of least ten (1 0) days prior written notice to Lentler. 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 Truster or any other person. Should the Reel Property he located in an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area, Truster agrees to obtain and maintain Federal Flood Insurance, if available, within 45 days after notice is given by Lender that the Property is located In a special flood hr>ard area, for the full unpaid principal balance of the loan and any prior hens an the property securing the loan, up to the maximum policy limits set under the National Deed Insurance Program, or as otherwise required by Lender, and to maintain such insurance fur the term of the loan. Application of Proceeds. Tractor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss if Truster fails to do so within fifteen (I 5T days of the casualty- Whether or not Lender's security is impaired Lender may, at Lender's election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of any her affecting the Property, or the restoration and repair of the Property. If Lander elects to apply the proceeds to restoration and repair, Trustor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lentler. Lender shall, upon satisfactory proof of such expenditure, pay or re mburse Trustor from the proceeds for the repioJusbia cost of repair or restoration If Truster Is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after anur 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 under this Deed of Trust, then to pay accrued interest, and the remainder, if any, shall be, applied to the principal balance of the Indehtedness. If Lender holds any proceeds after payment in full of the Indehtedness, such proceeds shall be paid to Trustor as Trustor 's interests may appear. Compliance wRh Existing Indebtedness. During the period in which any Existing Indebtedness described below Is in effect, compliance with the insurance prooiourns ctatained In the instrument evidencing such Existing Indebtedness shall constitute compliance with the insuranne provisions under this Deed of Trust, to the extent compliance with the terms of this Deed of Trust would constitute a duplication of Insurance requirement If any proceeds from the insurance become payable on loss, the provisions in this Deed of Trust for division of proceeds shall apply only m that portion of the proceeds not payable to the holder of the Exatiny Indebtedness. Teacher Report on Insurance. Upon request of I ender, hawever not more than once a year, Truster shall furnish to I ender a report on each mr,mny policy of insurance showing (l ) the name of the insurer; (2) the risks insured IR) the amount of the policy; (4) tie property insured the then current replacement value of such property, and the manner of determining that value: and 15) the expiration date of the pol'ay. Truster shall, upon request of I ender, have an independent appraiser satisfactory to Lender determine the cash value replacement cult of the Property. LENDER'S EXPENDITURES. If any action er proceeding Is commenced that would materially effect Lender's interest in the Property or if Truster fails to comply with any provision of this Deed of Trust or any Related Documents, including but not limited to buster's failure to comply with any obligation to maintain Existing Indebtedness in goad standing as required below, or to discharge or pay when due any amounts Tmstor is required to discharge or pay under this Latd of trust or any Related Pneumonia, Lender on Trustor's behalf play (but shall not be mchyoted tot take any action that lender poems appropriate, including but not limited to discharging or paying of taxes, Trans, security interests, encumbrances and other claims, at any time lovied or placed on the Property and paying all costs for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear lmarestat The rate charged 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 Indebtedness and, at Lender's option, will (A) be payable on demand; (81 be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (11) the tern of any applicable in n urance policy; or (2) the remaining term of the Note; or IC) be Tooled as a balloon payment which will be due and payable at the Note's maturity. Thu Deed of Trust also will secure payment of these amounts. Such right shall be in addition to all other rights antl 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 Deed of Trust: Title. Truster warrants that: (a) Turner holds good and marketable title of record to the Property in fee simple, free and clear of all Ides and encumbrances other than those set forth in the Real Property description or In the Existing Indebtedness section below or in any title insurance policy, title report, or final title opinion issued in on laver of, and accepted by, Lender In connection with this Dead of Trust, and lb) Truster has the full right, power, and authority to execute and deliver this Deed of Dust 10 Lender.