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DEED OF TRUST 20i~a687~
<br />(Continued) Page 2
<br />this Deed of Trust.
<br />Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and regulations, now or
<br />hereafter in effect, of all governmental authorities applicable to the use or occupancy of the Property, including without limitation, the
<br />Americans With Disabilities Act. Trustor may contest in good faith any such law, ordinance, or regulation and withhold compliance
<br />during any proceeding, including appropriate appeals, so long as Trustor has notified Lender in writing prior to doing so and so long as,
<br />in Lender's sole opinion, Lender's interests in the Property are not jeopardized, Lender may require Trustor to post adequate security
<br />nr a surety bond, reasonably satisfactory to Lender, to protect Lender's interest.
<br />Duty to Protect. Truster agrees neither to abandon ar Isave unattended the Property. Trustor shall do all other acts, in addition to
<br />those acts set forth above in this suction, which from the character and use of the Property arc reasonably necessary to protect and
<br />preserve the Property.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust:
<br />Payment. Trustor shall pay when due land in all events prior to delinquency) all taxes, special taxes, assessments, charges lincluding
<br />water and sewed, fines and impositions levied against ar on account of the Property, and shall pay when duu all claims for work done
<br />nn nr 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 Deed of Trust.
<br />Right to Contest. Trustor may withhold payment of any tax, assessment, or claim in connection with a goad faith dispute over the
<br />obligation to pay, so Inng as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment,
<br />Trustor shall within fifteen 1151 days after the lien arises or, if a lien is filed, within fifteen 1151 days after Truster has notice of the
<br />filing, secure the discharge of the lien, ar if requested by 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 nr 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 Hama 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 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 1151 days before any work is commenced, any services are
<br />furnished,. or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien Gould be asserted on
<br />account of the work, services, nr materials. Trustor will upon rsquust 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 rulating to insuring the Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. Truster 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 (aver of Lender. Trustor shall also procure
<br />and maintain comprehensive general liability insurance in 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 insurance, as Lender may reasonably require. Policies shall be
<br />written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company nr companies reasonably
<br />acceptable to Lender Trustor, upon rsquust of Lender, will deliver to Lender from time to time the policies or oertificetes of insurance
<br />in form satisfactory to Lender, including stipulations that coverages will Hat be cancelled or diminished without at least ten 1101 days
<br />--- prior written notice to Lender:' Eastr ~nsurarrce potfcy atso~h-atl irtofuds an end~SS-mBnC rovfdinZT tri~T~nveraye iri favnr-pi tend©r will
<br />not be impaired in any way by any act, omission or default of Trustor or any other person. Should the Real Property 6e located in an
<br />area designated by the birector of the Federal Emergency Management Agency as a special flood hazard area, Truster agrees to
<br />obtain and maintain Federal Flood Insurance, if available, for the full unpaid principal balance of the loan and any prior liens on the
<br />property securing the loan, up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required
<br />by Lender, and to maintain such 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 prpaf of loss
<br />if Trustor fails to do sa within fifteen (15) days of the casualty. Whether or 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 Property, nr the rest.aration 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 or reimburse Trustor frpm the proceeds for the reasonable cast of repair or restoration if
<br />Trustor is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their receipt
<br />and which Lender has not committed to fhe repair or restoration of the Property shall be used first to pay any amount owing to Lender
<br />under this Deed of Trust, then ka 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 />Trustor's 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; 111 the name of the insurer; 121 the risks insured; (3) the amount of the policy; 141
<br />the property insured, the then current replacement value of such property, and the manner of determining that value; and 151 the
<br />expiration date of the policy. Trustor shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine
<br />the cash value replacement cost of the Property.
<br />LENDER'S EXPENDITURES. If any action nr proceeding is commenced that would materially affect Lender's interest in the Property or if
<br />Trustor fails to comply with any provision of this Deed of Trask or any Related Documents, including but not limited to Trustor's failure to
<br />discharge or pay when duu any amounts Trustor is required to discharge or pay under this peed of Trust nr any Related Documents, Lender
<br />on 7rustor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including buf nqt limited to
<br />discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied ar placed nn the Property and
<br />paying all costs for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes
<br />will than bear interest at the rate charged under the Note from the dots incurred or paid by Lender to the dots of repayment by Trustor. All
<br />such expenses will become a part of the Indebtedness and, at Lender's option, will IA) be payable on demand; IBI be added to the
<br />balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) thc~ term of
<br />any applicable insurance policy; or 121 the remaining term of the Note; or ICI be treated as a balloon payment which will be due and
<br />payable at the Note's maturity. The Dssd of Trust also will secure payment of these amounts. Such right shall be in addition to all ether
<br />rights and remedies to which 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: lal Trustor holds good and marketable title of record to the Prppsrty in fee simple, free and clear of all
<br />liens and encumbrances ether than those set forth in the Real Property description ar in any title insurance policy, title report, nr final
<br />title opinion issued in favor of, and accepted by, Lender in connection with this Deud of Trust, and Ibl Trustor has the full right,
<br />power, and authority to execute and deliver this Deed of Trust to Lender.
<br />Defense of Title. 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 Trustar's title or the
<br />interest of Trustee or Lender under this Deed of Trust, Truster shall defend the action at Trustor's expense. Trustor may be the
<br />nominal party in such proceeding, but Lender shall be untitled to participate in the proceeding and to be represented in the proceeding
<br />6y counsel of Lender's own choice, and Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may
<br />rsquust from time to time to permit such participation.
<br />Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable
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