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DEED OF TRUST
<br />Loan No: 40"19154 (Continued) 2 0 � 0 0 7 6 7 4 Pag �
<br />Evidence of Payment. Trustor shall upan 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 af Construction. 7rustor shall notify Lender at least fifteen (15) days before any work is commenced, any services are
<br />furnished, or any materials are supplied to the Prpperty, if any mechanic's lien, materialmen's lien, or ather 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 Trwstor can and will pay the cast of such improvements.
<br />PROPERTY DAMpGE INSURANCE. The following provisions retating to insuring the Prpperty are a part pf this Deed nf Trust.
<br />Maintenance of Insurance. 7rustor shall procure and maintain policies of fire insurance with standard extended coverage
<br />endorsements on a replacement basis for the full insurable value cpvering all Improvements on the Real Praperty in an amount
<br />sufficient ta avoid applicatian of any coinsurance clause, and with a standard mortgagee clause in favor of Lender, together with such
<br />other 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 acceptahle to L.ender. Trustor, upon request of
<br />Lender, will deliver to Lender from time tp #ime the policies or certificates of insurance in form satisfactory 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 favar of l,ender will not be impaired in any way by any
<br />act, omission or default of Trustor or any other person. 5hould the Real Property be located in an area designated 6y the Directar of
<br />the Federal Emergency Management Agency as a special flood hazard area, Trustor agrees tp obtain and maintain Federal Fload
<br />Insurance, if available, within 45 days after notice is given by Lender that the Prpperty is located in a special flood hazard area, for the
<br />maximum ampunt of Trustor's credit line and the full unpaid principal 6alance pf any prior liens on the property securing the loan, up
<br />ta the maximum policy limits set under the National Flood Insurance Prpgram, or as otherwise required by Lender, and to maintain
<br />such insurance for the term of the loan.
<br />Application of Proceeds. Trustor shall promptly notify Lender pf any loss or damage to the Property. Lender may make proof pf Ipss
<br />if Trustor fails to do so within fifteen (15) days of the casualty. Whether or not Lender's security is impaired, l.ender may, at Lender's
<br />election, receive and retain the proceeds of any insurance and apply the proceeds to the reductipn of the Indebtedness, psyment of
<br />any lien affecting the Property, 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. I..ender 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 Deed pf Trust. Any proceeds which have not been disbursed within 180 days after their receipt
<br />and which Lender has npt committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender
<br />under this Deed pf 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 prp,ceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as
<br />Trustar's interests may appear. "�'�'""""
<br />Compliance with Existing Indebtedness. During the period in which any ExisCing Indebtedness described below is in effect, compliance
<br />with the insurance provisions contained in the instrument evidencing such Existing Indebtedness shall constitute compliance with the
<br />insurance provisions under this Deed of Trust, to the extant compliance with the terms of this Deed of 7rust would constitute a
<br />duplication of insurance requirement. If any proceeds from the insurance become payable an loss, the provisions in this Deed of Trust
<br />for divisipn of pracaeds shall apply only to that portion of the proceeds not paya6le to the holder of the Existing Inde6tedness.
<br />LENDER'S EXPEIVDITURES. If Trustor fails (A) 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, (C) to make repairs to the Property or to comply with any ohligation to
<br />maintain Existing Indebtedness in goad standing as required below, then Lender may do so. If any action or proceeding is commencsd that
<br />would matarially affect Lender's interests in the Property, then Lender on Trustor's behalf may, but is not required to, take any action that
<br />Lender believes to be appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will then bear
<br />interest at the rate charged under the Credit Agreement from the date incurred or paid by Lender to the date of repayment by Trustor. All
<br />such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the
<br />balance of the Credit Agreement and be apportioned among and be payable with any installment payments to become due during either (1)
<br />ths term qf any applicable insurance policy; or (2) the remaining term of the Credit Agreement; or (C) be treated as a balloon payment
<br />which will be due and payable at the Credit Agreement's maturity. The Deed of Trust also will secure payment of these amounts. The
<br />rights provided for in this paragraph shall pe in addition to any other rights or any remedies to which l.ender may be entitled on account of
<br />any default. Any such action by Lender shall not be construed as curing the default so as to bar Lender from any remedy that it otherwise
<br />would have had.
<br />WARRANTY; DEFENSE OF TITI.E. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
<br />Title. Trustor warrants that: (a) Trustor holds gnnd 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 Indebtedness section below or in
<br />any title insurance policy, title report, or finel title opinion issued in favor of, and accepted by, Lender in connection with this Deed of
<br />trust, and 161 Trustor has the full right, power, and authority to execute and deliver this Deed of Trust ta 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 pf all persons. In the event any action or proaeeding is commenced that questions Trustar's title or the
<br />interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the action at Trustar's expense. Trustor may be the
<br />nominal party in such proceeding, but Lender shall he entitled to participate in the proceeding and to be represented in the proceeding
<br />by counsel of Lender's own choice, and Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may
<br />request 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
<br />laws, ordinances, and ragulations of governmental authorities.
<br />Survival of Promises. All promisas, agre�ments, and statements Trustor has made in this Deed of 7rust shall survive the executipn
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