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DEED �F TRUST 2 010 0 814 2
<br />(COrttinu�d) Pgge 2
<br />to Lender to replace such Improvements with Improvements of at least equal value.
<br />Lender's Right to Enter. Lender and Lender's agents end representatives may enter upon the Real Property at all reasoneble times to
<br />ettend to Lender's interests and to inspect the Real Prnperty for purposes of Trustar's compliance with the terms and conditions of
<br />this qeed of Trust.
<br />Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and regulations, now or
<br />hereafter in effact, of �II governmental authorities applicable to the use or pccupancy of the Property, including withput 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 appesls, 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 interasts in the Property are nat jeopardized. �.ender mey require Trustar to post adequete aecurity
<br />or a surety bond, reasonebly satisfactory to Lender; to protect Lender's interest.
<br />Duty #o Protact. Trustnr egrees neither to abandon or leave unattended the Property. trustor shall do ell other acts, in addition to
<br />those acts set forth above in this sectian, which from the character and use of the Property are reasonably necessary to protect and
<br />preserve the I'roperty.
<br />TAXES AND LIENS. 7he following provisions relating to the taxes end liens on the Property are part of this Deed of Trust:
<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including
<br />water and sewer►, fines and impositions levied against or on account of tha Property, and shall pay when due all cleims for work done
<br />on or for services rendered or meterial furnished ta the Property. Trustor shall maintain the F'roperty free af 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 sssassments not due and except as
<br />otherwisa provided in this Deed of Trust.
<br />Right to Contest. Trustor may withhold payment of eny 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 e lien arises or is filed as a rssult of nonpayment,
<br />Trustor shall within fifteen (15) deys after the lien arises or, if a lien is filed, within fifteen (15) deys sfter Trustor has notice of the
<br />filing, sacure the discharge of the lien, or if requestad by Lender, depo'sit with Lender cash or a sufficient corporete surety bond or
<br />other security satisfactory to lender in an �mount sufficient to discharge the lisn plus any costs and attorneys' fees, or other charges
<br />that could accrue as a result of a fpreclosure or sale under the lien. In any contest, Trustor shall defend itselt and Lender and shall
<br />satisfy any adverse judgment before enfarcement against the Prnpsrty. Trustor shall name Lender as an additional obligee under any
<br />surety bond furnished in the contest proceedings.
<br />Evidence of Payment. Trustar ahsll upon demand furnish to l.ender satisfactory evidence of payment pf the taxes or assessments end
<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 Constructian. Trustor shall notify Lender at least fifteen (15) days before any wprk is commenced, any services are
<br />furnished, nr any materials are supplied to the Prvparty, if any mechanic's lien, materialmen's lien, or other lien could be asserted on
<br />account of the work, services, or materials. Trustor will upon request of Lender furnish ta Lender advance essurances satisfactory to
<br />Lender that Trustor can and will psy the cost of such improvements.
<br />PROPERTY DAMAGE INSURANCE. The fallowing provisions relating to insuring the Property are a part nf this Deed of Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurenca with standard extended coverege
<br />endorsements on a fair value basis for the full insurabl@ v.alus covering all tmprovements on the Real Property in an amount sufficient
<br />tn evoid epplicetion of any coinsurance clause, and with a standard mortgagee clause in favor of Lender. 7rustor shall also procure
<br />and Inaintain comprehensive general liability insurance in such caverege amounts as Lender may request with 7rustee and Lender
<br />being named as additional insureds in such liability insurance palicies. Additionally, Trustor shall maintain such other insurance,
<br />including but not limited tn hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies shall be
<br />written in form, amnunts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably
<br />accepteble to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the policies or certificates of insurance
<br />in form satisfactory to Lender, including stipulations that coverages will nqt be cancelled or diminished without at least ten 110) days
<br />prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor of Lender will
<br />not be impaired in any way by any act, omission or default of Trustor or any other person. 5hould the Real f'roper#y be loceted in arl
<br />area designated by the Director of the Federal Emergency Management Agency as a special flood hazard srea, Trustor agrees td
<br />obfain and maintain �ederal Flood Insurance, if available, far the full unpaid principal balance of the loan and any prior lians on th0
<br />property securing tha loan, up to the maximum policy limits set under the National Fload Insurance Program, or as otherwise required
<br />by Lender, and to maintain such insuranca fnr the term of the loan.
<br />Application of Proceeds. Trustor shall pramptly notify Lender of any loss or damage to the Properfy. Lender may meke prpof of loss
<br />if Trustor fails to do so within fifteen (15) days of the casualty. Whether or not Lender's security is impaired, Lender may, at Lendec's
<br />election, receive and retain the proceeds of any insurance and apply the proceeda to the reduction of the Indebtedness, payment of
<br />any lien affecting the Property, or the restoration and repair of the Property. If Lender elects to apply the procesds to restoration and
<br />repair, Trustor shall repair or replace the damaged or destroyed Improvemsnts in a manner satisfactory to Lender. Lender shall, upon
<br />setisfectory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost vf repair or restoration if
<br />Trustor is not in default under this Deed of Trust. Any proceeda which have not been disbursed within 180 days after their receipt
<br />and which Lender has nnt cnmmitted to the repair or restoratiqn of the Property shall be used first ta pay any amount owing to Lender
<br />under this Deed of Trust, then to pay accruad interest, and the remainder, if any, shall he applied to the principal balsncs 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 />7rustor's Rapqrt on Inaurance. Upon request of Lender, however not more than once a yeer, Trustor shall furnish to Lender a repprt
<br />on each existing policy of insurance showing: (1) the name of the insurer; (2) the risks insured; (3) the amount of the policy; (4)
<br />the property insured, the then current replacement value of such property, and the manner of determining that value; and (5) the
<br />expiration date of the palicy. Trustor shall, upon request of Lender, heve an independent appraisar satisfactory to Lender determine
<br />the cash velue replacement cost of the F'roper#y.
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<br />I.ENdER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Proper#y or if
<br />Trustor fails to comply with any provisiqn of this Deed of Trust or any Related bpcuments, including but not limited to Trustor's failure to
<br />discharge or pay when due any smounts Trustor is required to disch�rge ar pay under this beed of Trust or eny Related Dacuments, Lender
<br />on 7rustor's behalf may (but shall not be obligated to) tske any action that Lender deems apprnpriate, including but not limited to
<br />discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on the Prpperty 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 then bear interest at the rate charged under the Note 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; (6) be added to ths
<br />balance af the Note and be apportioned among and be payable with any installment payments ta become due during either (1) the tsrm of
<br />any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and
<br />payable at the Note's maturity. The Deed of Trust also will secure payment of these amounts. 5uch right shsll be in addition to all other
<br />rights and remedies to which Lender may be entitled upon �efault.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions ralating to ownership of the Property ere a part of this Deed of Trust:
<br />Title. Trus#or warrents that: (a) Trustor holds good end marketa6le title of record to the Prpperty in fee simple, free and clear of all
<br />liens and encumbrances other than thase set fnrth in the Real Property description pr in any title insurance policy, title repprt, or final
<br />title opinion issued in favor of, and eccepted by, Lender in connection with this Deed of Trust, and (b) Trustor has the full right,
<br />power, and authority to exepute and deliver this Deed of Trust to Lender.
<br />befense of Title. Subject tn the exception in the paragraph abova, Trustor warrants and will forever defend the title to the Property
<br />against the lawful claims of all persons. In the event any actian or proceeding is commenced that questions Trustor's title or the
<br />interest of Trustee ar Lender under this Dead af Trust, Trustor shall defend the action et Trustor's expense. Trustor may be the
<br />nominal party in such proceeding, but Lender shall be entitled to participate fn the proceeding and to be represented in the proceeding
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