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DEED OF TRUST
<br />Loan No: 774207 200206437 (Continued) Pi
<br />that could accrue as a result of a foreclosure er 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 Lander as an additional .1i 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 time a written statement of the taxes and assessments
<br />against the Property.
<br />Notice of Construction. Trustor shall notify lender at least fifteen (15) days before any work Is comnrenced, any services are
<br />furnished, or any materials are supplied to lira Propi it any mechanic's Ilan, materialmen'a lien, or other lien could be 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 cost of such improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to Insuring fire Properly are a part at this Deed of Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended r, vcrage
<br />endorsements on a fair value basis for the full Insurable value covering all improvements on the goal 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 comprchensiw general liability insurance or such coverage amounts as Lender may request with Trustee and Lender
<br />being named as additional insureds in such liability insurance policies. Additionally, Trustor shall maintain such other Insurance,
<br />Including but not limited to hazard, business interruption, and boiler in s Lender may reasonably require. Policies shall be
<br />written in form, amounts, beverages and racial raasbnably acceptable to Lender and issued by a company or barrenness reasonably
<br />acceptable to Lender trouble, 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 endorsement providing that coverage in favor of Lender will
<br />not he impaired In any way by any art, n or default of Toaster er any other person. Should the Rcal Property be located in an
<br />area designated by the Director of the Federal
<br />Emergency Management Agency a s a special flood hazard area, Trustor agrees to
<br />obtain and maintain Federal Flood Insurance. It available, within 45 days after notice isgiven 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 />Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss
<br />If Trustor falls to do so within fifteen 115) days of the casualty. Whather or not leader's security Is impaired, Lender may, at Lender's
<br />. action, re and retain the proceeds of any insurance and apply the proceeds to the reduction of fire Indebtedness, payment of
<br />Leave
<br />any on affecting the Property, or the he damage and repair of the Property. If Lender elects to apply the Lender. to restoration and
<br />repair, Trustor of repair or replace the ay or reimburse b rse destroyed
<br />Trust Improvements in a manner satisfactory to Lender. Lender shall, upon
<br />satisfactory Proof of such expenditure, pay o mburse Trustor from the proceeds for the reasonable
<br />with cost of repair to rtheir recent
<br />Trustor is i not in default under this Deed of Trust. Any orations which have not been disbursed within 130 days after their receipt
<br />and which Lender has not wen top W the repair to restoration of the Property shall be used first to pay any amount awing ce Lender
<br />under this Deed of Trust, then to pay accrued interest, and the full of the I it and, shall he applied d the principal balance le the
<br />T abed, i to If Lender hello any proceeds after payment in Lull of the Indebtedness, such proceeds shall be pail to Rustor as
<br />Trustor's Interests may appear.
<br />Compliance with Existing Indebtedness. During the period in which any Existing Indebtedness described below is in rRacp compliance
<br />with the insurance provisions contained in the Instrument evidencing such Existing Indebtedness shall constitute compliance with the
<br />insurance precipices Under this Deed of Treat, to the extent compliance with the terms of this Deed of Trust would constitute a
<br />duplication of Insurance requirement- If any proceeds from the insurance become payable on loss, the provisions In this Deed of Trust
<br />for division of proceeds shall apply only to that portion of the proceeds not payable to the holder of the Existing Indebtednes,
<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 />on each existing policy of insurance showing: (11 the name of the insurer, 12) lac risks Insured; (3) the amount of the policy; AT
<br />the properly insured the then current replacement value at such property, and the manner of determining that value; and (5) tGr,
<br />expiration date of the policy. Trustor shall, upon request of Lender, have an independent appraiser satisfactory to I ender determine
<br />the cash value replacement cost of the Property.
<br />LENDER'S EXPENDITURES. If any action or proceeding is commenced trial would materially affect Lender's interest in the Property or If
<br />Truster falls to c rnply with any Vrwleave at this Deed at Trust or any Related Documents, including but not limited to Trustor's failure to
<br />comply with any obligation to maintain Existing Indebtedness in good standing as required belnw, or to discharge or pay when due any
<br />amounts Trustor is required to disr.harge or pay under this Dead of Trust or any Related Documents, Lender on Truster's behalf may (but
<br />shall not be obligated tot take any action that Lender deems appropriater including but not limited to discharging or paying all taxes, (lens,
<br />security Interests, encumbrances and other claims, at any time levied or placed on the Property and paying all coats for insuring,
<br />maintaining and preserving the Property. All such expenditures incurred or paid by Lender for curb purposes will then bear interest at the
<br />rate nharged under the Note from the data 'mcorred or paid by Lender to the date of repayment by Truslor. All such expenses will become
<br />a part of the Indebtedness old, at Lender's option, will (AT be payable on demand; Or be added to the balance of the Note and hr
<br />apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance
<br />policy; or (2) the remaining term of the N,i or ICI he treated as a balloon payment which will be due and payable at the Note's
<br />maturity. The Deed of Trust also will secure payment of these amounts. Such right shall be In addition to all other rights and remedies to
<br />Much 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 la) Trustor 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 Indehtedneac section below or
<br />any title insurance policy, title report, or final title opinion reared in favor of, and accepted by, I ender In c n actio with this Dead of
<br />Trust, and Ib) Trustor has the fWl right, power, and authority to execute and deliver this Deed of Trust toL Lender
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