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DEED o~ TRUST 2 O 0 9 Q 8~ 31 ~ag~ ~
<br />Loan No: 9 0 9 225344 (COntinuBd)
<br />Payment. Trustar shall pay when due land in all events prior to delinquency) all taxes, special taxes, assessments, charges (including
<br />water and sewerl, fines and impositions levied against or nn account of the Property, and shall pay when due all claims far work done
<br />on or for services rendered or material furnished to the Property. Trustor shall maintain the Property free of all liens having priority
<br />over or equal to the interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except as
<br />otherwise provided in this peed of Trust.
<br />Right to Contest. Trustor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the
<br />obligation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises nr is filed as a result of nonpayment,
<br />Trustor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (15) days after Trustor has notice of the
<br />filing, secure the discharge of the lien, nr if requested 6y Lender, deposit with Lender cash or a sufficient corporate surety bond or
<br />other security satisfactory to Lender in an amount sufficient to discharge the lien plus any costs and attorneys' fees, or other charges
<br />that could accrue as a result of a foreclosure or 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 Lender as an additional obligee 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 tv deliver to Lender at any time a written statement of the taxes and assessments
<br />against the Property.
<br />No#ice of Construction. Trustor shall notify Lender at least fifteen (15) days before any work is commenced, any services are
<br />furnished, ar any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on
<br />_. account of the work, services, nr mB.tsrials. _Trustor will upon_request.et 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 the Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage
<br />endorsements on a fair value basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient
<br />to avoid application of any coinsurance clause, and with a standard mortgagee clause in favor of Lender, together with such other
<br />hazard and liability insurance as Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis
<br />reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Trustar, upon request of
<br />Lender, will deliver to Lender from time to time the policies or certificates of insurance in farm satisfaatory to Lender, including
<br />stipulations that coverages will not be cancelled or diminished without at least ten (10) days prior written notice to Lender. Each
<br />insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any
<br />act, omission ar default of Trustor or any other person. Should the Real Property be located in an area designated by the Director of
<br />the Federal Emergency Management Agency as a special flood hazard area, Trustor agrees to obtain and maintain Federal Flood
<br />Insurance, if available, far the full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the
<br />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 fails to do so within fifteen (15) days of the casualty. Whether ar not Lender's security is impaired, Lender may, at Lender's
<br />election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of
<br />any lien affecting the Prgperty, or the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and
<br />repair, Trustor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br />satisfactory proof of such expenditure, pay ar reimburse Trustor from the proceeds for the reasonable cost of repair or restoration if
<br />Trustor is not in default under this Dead of Trust. Any proceeds which have not been disbursed within 180 days after their receipt
<br />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
<br />under this Deed of Trust, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balance of the
<br />Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as
<br />Trustor's interests may appear.
<br />LENDER'S EXPENDITURES. If Trustor fails IA- to keep the Property free of all taxes, liens, security interests, encumbrances, and other
<br />claims, (B) to provide any required insurance on the Property, or ICI to make repairs to the Property then Lender may do so. If any
<br />action or proceeding is commenced that would materially affect Lender's interests in the Property, then Lender on Trustor's behalf may,
<br />but is opt required to, take any action that Lender believes to be appropriate tp protect Lender's interests. All expenses incurred or paid by
<br />Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of
<br />repayment by Trustor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand;
<br />IB) be added to the balance of the Note .and be apportioned among and be payable with any installment payments to become due during
<br />either 111 the term of any applicable insurance policy; or (2) the remaining term of the Note; or IC1 be treated as a balloon payment
<br />which will be due and payable at the Note's maturity. The Deed of Trust also will secure payment of these amounts. The rights provided
<br />for in this paragraph shall be in addition to any other rights or any remedies to which Lender may be entitled on account of any default.
<br />Any such action by Lender shall not be construed as curing the default so as to bar Lender from any remedy that it otherwise would have
<br />had.
<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 any title insurance policy, title report, or final
<br />title opinion issued in favor nf, and accepted by, Lender in connection with this Deed of Trust, and Ib- Trustor has the full right,
<br />power, and authority to execute and deliver this Deed of Trust to Lender.
<br />Defense of Tkle. Subject to.the exception in the paragraph above, Trustor warrants and will forever defend the title to the Property
<br />against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the
<br />interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the action at Trustor's expense. Trustor may be the
<br />nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding
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