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200315333
<br />2. Title. Borrower is the owner of the Property, has the right and authority to convey the Property,
<br />and warrants that the lien created hereby is a first and prior lien on the Property, except as may otherwise
<br />be set forth herein, and the execution and delivery of this Deed of Trust does not violate any contract or
<br />other obligation to which Borrower is subject.
<br />3. Taxes, Assessments. To pay when due all taxes, special assessments and all other charges
<br />against the Property and, upon written demand by Lender, to pay to Lender such amount as may be
<br />sufficient to enable to Lender to pay such taxes, assessments or other charges as they become due.
<br />4. Insurance. To keep the Property insured against damage by fire, hazards included within the
<br />term "extended coverage ", and such other hazards as Lender may require, in amounts and with companies
<br />acceptable to the Lender, and with loss payable to the Lender. In case of loss under such policies, the
<br />Lender is authorized to adjust, collect and compromise, all claims thereunder and shall have the option of
<br />applying all or part of the insurance proceeds (i) to any indebtedness secured hereby and in such order as
<br />Lender may determine, (h) to the Borrower to be used for the repair or restoration of the Property of (iii)
<br />for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the
<br />full amount secured hereby before such payment ever took place. Any application of proceeds to
<br />indebtedness shall not extend or postpone the due date of any payments under the Note, or cure any default
<br />thereunder or hereunder.
<br />5. Maintenance Repairs and Compliance with Laws. Borrower shall keep the Property in good
<br />condition and repair, shall promptly repair, or replace any improvement which may be damaged or
<br />destroyed; shall not commit or permit any waste or deterioration of the Property; shall not remove demolish
<br />or substantially alter any of the improvements on the Property; shall not commit, suffer or permit any act
<br />to be done in or upon the Property in violation of any law, ordinance, or regulation; and shall pay and
<br />promptly discharge at Borrower's cost and expense all liens, encumbrances and charges levied, imposed
<br />or assessed against the Property or any part thereof.
<br />6. Eminent Domain. Lender is hereby assigned all compensation, awards, damages and other
<br />payments or relief (hereinafter "Proceeds ") in connection with condemnation or other taking of the Property
<br />or part thereof, or for conveyance in lieu of condemnation. Lender shall be entitled at its option to
<br />commence, appear in and prosecute in its own name any action or proceedings, and shall also be entitled
<br />to make any compromise or settlement in connection with such taking or damage. In the event any portion
<br />of the Property is so taken or damaged, Lender shall have the option, in its sole and absolute discretion, to
<br />apply all such Proceeds, after deducting therefrom all costs and expenses incurred by it in connection with
<br />such Proceeds, upon any indebtedness secured hereby and in such order as Lender may determine, or to
<br />apply all such Proceeds after deducting therefrom all costs and expenses incurred by it in connection with
<br />such Proceeds, upon any indebtedness secured hereby and in such order as Lender may determine, or to
<br />apply all such Proceeds, after such deductions, to the restoration of the Property upon such conditions as
<br />Lender may determine. Any application of Proceeds to indebtedness shall not extend or postpone the due
<br />date of any payments under the Note, or cure any default thereunder or hereunder.
<br />7. Performance by Lender. In the event of Borrower's failure to perform any of the covenants
<br />herein or make any payments required hereby, or if any act is taken or legal proceeding commenced which
<br />materially affects Lender's interest in the Property, Lender may in its own discretion, but without obligation
<br />to do so, and without notice to or demand upon Borrower and without releasing Borrower from any
<br />obligation, do any act which the Borrower has agreed but fails to do and may also do any other act it deems
<br />necessary to protect the security hereof. Borrower shall, immediately upon demand therefor by Lender, pay
<br />to Lender all costs and expenses incurred and sums expended by Lender in connection with the exercise by
<br />Lender of the foregoing rights, together with interest thereon at the rate provided in the Note, which shall
<br />be added to the indebtedness secured hereby. Lender shall not incur any personal liability because of
<br />anything it may do or omit to do hereunder.
<br />8. Events of Default. The following shall constitute an event of default under this Deed of Trust:
<br />(a) Failure to pay any installment of principal or interest or any other sum secured
<br />hereby when due, or failure to pay when due any other indebtedness of Borrower to Lender;
<br />(b) A breach of or default under any provision contained in the Note, this Deed of
<br />Trust, any document which secures the Note, and any other encumbrance upon the Property;
<br />(c) A writ of execution or attachment or any similar process shall be entered against
<br />Borrower which shall become a lien on the Property or any portion thereof or interest
<br />therein;
<br />(d) There shall be filed by or against Borrower an action under any present or future
<br />federal, state or other statute, law or regulation relating to bankruptcy, insolvency or other
<br />relief for debtors; or there shall be appointed any trustee, receiver or liquidator of Borrower
<br />or of any part of the Property, or the rents, issues or profits thereof, or Borrower shall make
<br />any general assignment for the benefit of creditors;
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