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<br />111-07-1988
<br />Loan No 5870
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />88_1105575
<br />
<br />Page 2
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<br />Pcuualon and U... Untll1ho occurronco DI an Evanl 01 Ooloul1. Grantor may {a} ramaln In poasosslon and control of tho Property, (b) oporato
<br />and rtlIln&go tho Proporty, and (e) con0C11ho Ronls lrom Iho Proporty.
<br />Duty to Maintain. Grantor shall malnlBln tho Proporty in tonantablo candlllon and prompUy plJl1'orm all repairs and malnlonanco nocDssary to
<br />Pl'OS8lV81ts value.
<br />Hazardou. Sub.lances. Grantor reprosonts and warranls lhat tho Proporty nOVOl has boon, and nover will be so long as this DODd of Trusl
<br />roma.Ins . lion on tho Proporty, usod tor tho gonarat/on, manufaclUr&, storage, lrolltmont, disposal. release or lhmalonod roloase of any hazardous
<br />subslaOCQ, as lhasa terms am doflned In tho Comprehensive Environmental Response, Compensation and Uablllty Act of 1900, as amondod, 4~
<br />U.S.C. Section 9601, 01 ooq. rCERCLA"), Ihe Suporfund Amendmonls and Reauthor12aOon Act rSARAj, applicable stato laws, or rogulallons
<br />adopted pursuant io any 01 the forogolng. Grunlor authorizes Lendor and lis agenls to onter upon the RoB! Property to mako such Inspections
<br />and tests as Lendor may doom appropriato to del ermine compliance 01 tho Property wilh thIs paragraph. Any Inspections or tests made by Lundor
<br />shaD be lor Lunder's purposes only and shall not be conslrued 10 creale any raspanslbillty Dr liability on Ihe pBJ1 of lender 10 Granlor Dr 10 any
<br />other person. Grantor agroos 10 In damnIfy and hold Londer harmless against any and all claims and losses resulting from B broach 01 thIs
<br />paragraph ollhe Deed or Trust. This obligation to IndemnIfy shall survlvo the payment 0' lhe Indebtedness and the satisfaction or this Deed of
<br />Trust
<br />NUisance. W..ta. Granlor shoJI not cause, conduct or permit any nuisance nor commit or suner any strip or waste on or 10 Ihe Property or any
<br />portlon thereol of Ihe Property. Specifically wilhout limitatIon, Granlor win not remove, or grant to any olher party the right 10 remove, any 1Jmber,
<br />minerals (Including all and gas), soli, gravel or rock product:'! wilhout Ihe prior written consenl 01 Lender.
<br />Removal of Improvements. Granlor sholl not demolish or remove any Improvements from lhe Real Property wllhout the prior wrlnen consent 01
<br />Lender. As II condition to tho romoval or any Improvemenls, Lendor may roqulre Grantor to make arrangements sallsfactory to Lender to replace
<br />such Il'l1)rovemenr:s wllh Improvemenls or at leasl equal value.
<br />Lender". Righi to Enter. Lendor and Irs agenls and roprosenlatlvBs may enler upon the Real Property at all reasonable 1Jmes to anend to
<br />Lender's Interests snd to Inspect tho Property for purposes of Grantor's compliance with Ihe terms and cond]tlons ollhls Deed of Trust.
<br />ComplL"nce with Governmental Requirements. Granlor shal] promptly comply with aU laws, ordinances, and regulallons of all governmental
<br />authorttie9 b,-"'PJlcable !:J Ine use or occupancy of the Property. Grantor may contest In good I8Ith any such law, ordinance, or regulation and
<br />withhold co"1'lIance during IlIny proceeding, Including appropriate appeals, so long as Granlor has notified lender In wrIl1ng prior 10 doing so and
<br />so long sa lender's Inlerests In the Property are not Jeopardized. Lender may require Grantor to post adequate socurlly or a Burely bond,
<br />reasonably 8IlItisfactory to Lender, to prolect Lender's Inleresl.
<br />Duty.o Protect. Grantor shall do air other acts, In addllton 10 those acts set forth above In this section, which lrom lhe character and use of the
<br />Proporty are reasonablv necessary 10 protecl and prosarvo the Property.
<br />ASSUMPTION. If Grantor or any prospectlvB transleree applios to Lender for consent 10 a transler, Lendor may require such I"'ormalion concerning
<br />the prospectivo lransleree as would normally be required trom a now loan Applicant.
<br />TAXES AND WENS. The following provisions relat]ng to the taxes and liens on the Property Bre a part or this Doed at Trust.
<br />Payment Granlor shall pay when due belore they become delinquent all taxes, specla] laxes, assessmenls, charges (IncludIng waler and sewer),
<br />fines and Imposltlons levied against or on account 01 Ihe Property, and shall pay when duo air claims for walk done on or ror services rendered or
<br />matenal furnished to the PropEU1y. Granlor shall maintain Ihe Propony 'roo or air 11&05 having pllorlty ovor or equal to the Inlerest 01 Lender under
<br />this Doed or Trust, ~cept for tho lien ollaxes and assessments nol due, except for Ihe prior Indebtedness referred to below, and except as
<br />otherwise provided In this Deed 01 Trust.
<br />Evldenc. of Payment Grantor shall upon demand lurnlsh 10 lender evidence or payment of tho IIUIDS or assessments and shall authorize the
<br />appropriate governmental official to deliver 10 Lender at any timo a wrlnen stalement 01 the IIUIDS and assessments against the Property.
<br />PROPERTY DAMAGE INSURANCE. The following provisions rolatlng to Insuring lho Property are a part 01 thlB Deed of Trust.
<br />MaIntenance of Insurance. Grantor shall procure and maintain policies or fire Insurance with slandard elCtended coverage endorsements on a
<br />replacement basts for tho fulllosUl able valuo covering all Improvements on the Real Propmty In an amount sufficient to avoid application or any
<br />colnsurlll1C8 cJau90, and with III standard mongagoo clause In lavor of lender. PollcJes shall be wrlnen In form, amounts, coverages and basis
<br />reasonably ac:cepurbla 10 lender and Issued by a company or companies reasonably acceptable 10 Lender. Grantor, upon request of Lender, will
<br />deliver to Lunder from time to time the policies or certificates 01 insurance In form salislaclory 10 Londor, Including slipulallona thElt coverages will
<br />not be ClInco!Ied or diminished wlthoul at least Ion (10) days prior wrlnen notice to Lender.
<br />AppIJcatfon or Proceeds. Grantor shall promptly notify Lender of any loss Dr damage 10 the Property. Lender may make prool or loss tf Grantor
<br />ralls to do 80 within fifteen (15) dlllys ot lhe casualty. Whether or not Lender's security Is Impaired, Lender may, at fts elecllon, apply the proceeds
<br />to the reduction of lhe Indebtedness, payment 01 any lien aNacting the Property, or the restoration and repair or the Property. II Lender elects lo
<br />IIpply the proceeds to restoration and repair, Granlor shall repair or replace the damaged or deslroyed Improvements In a manner sallsfactory to
<br />Lender. Lender shall. upon satisfactory proal 01 such expenditure, payor reimburse Grantor rrom the proceeds for the reasonable cost or repair
<br />or rBS1oratlon tI Granlor Is nolln dahwlt under this Oeed or Trust Any procoeds which have nOl been disbursed Wllhin 180 days aner lhelr recelpl
<br />and which lender hIllS nol convnitled to the repair or restoration of Ihe Property shall be used first to pay any amount owing 10 Lender under this
<br />Deed of Trust, then to prepay accrued Inleresl. and Ihe remainder, If any. shall be appUed to the principal balance or the Indebtedness. If Lender
<br />holds any proceeds aner paymenl In full of lhe Indebtedness, such proceeds soBlI be paid to Granlor as Grantor's Interests may appear.
<br />Unexpired Insurance at Sale. Any unexpired Insurance shall Inure 10 lhe benefll of, and pass 10, the purchaser of the Property covered by this
<br />Deed of Trust 81 any truslee's sale or other sale held under the provisions 01 this Doed of Trust, or at any foreclosure sale or such Property.
<br />Compllanc. wfth Prior Indebtedness. During the period In which any prior Indebtedness described below Is In effect, compliance wilh tho
<br />Insurance provisions contained in lhe Instrumenl evidencing such prior Indebledness shall constitute compnance wlth lhe Insurance provisions
<br />under this Daed of Trust. 10 lhe extenl compnance with the lerms of this Deed 01 Trust would consUlUte 4 duplkalion of insurance requirement It
<br />any proceeds from the Insurance bucome payable on loss, the prOVIsions In Ihis Deed of Trust for division of proceeds shall apply only to that
<br />ponlon 01 the proceeds nol payable to the holder of lho prior Indebtednos'S.
<br />Granto". Report on Insurance. Upon request 01 Lender. however nol more than once a vaar, Grantor shall furnish to Lender a repon on 9ach
<br />existing polley of insurance showing: (a) the name of the insurer; (b) the risks insured; (c) the amount of the policy; (d) the property Insured, lhe
<br />then current replacement value 01 such property. Bnd the manner 01 detennlnlng Ihat value; and Ce) the expiration date 01 the policy. Granlor
<br />shd, upon request of Lender, hsva an Independont appraiser satishtclOry 10 Lender delermlne Ihe cash value roplacemenl cost of the Property.
<br />EXPENDITURES BY lENDER. II Grantor ralls 10 cofT1)ly wilh any provision or this Deed 01 Trust, IncludIng any obllgallon to maintain existing
<br />Indebtedness In good standing ItS required below. or if any action or proceeding Is colTVTlOnced that would malerlally anecl Lender's Interests in lhe
<br />Property, Lender on Grantor's behalf may, bul shlllll not be required to. take any action that lender deems appropriate. Any amount thai Lender
<br />expends In 90 doing will bear 1n1er8:rt at the rate Charged under Iho Note from the date Incurred or paid by Lender to lhe dale of repayment by Grantor.
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