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DEED OF TRUST
<br />Loan No: 1Q723'7298 .; (Continued) 2 p 1 0 9 4 5 J Page 3
<br />Evidence of Paymant. 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 (15) days before any wvrk is commenced, any services are
<br />furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or pthar lien could be asserted on
<br />eccount of the work, services, ar materials. Trustor will upon request of Lender furnish to Lender advance assurances satisfactory to
<br />Lender that Trustor cen and will pay the cost of such improvements.
<br />PRpPERTY �AMAGE INSURANCE. The follpwing prvvisipns 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 skandard axtended coverage
<br />endarsements 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 e standard mortgagee clause in favor of Lender, together with such other
<br />hazard and liability insurance as Lender may reasonabiy require. Policies shall be written in form, amounts, coverages and basis
<br />reasona6ly acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Trustor, upon request of
<br />Lender, will deliver to lender from time to time the policies or certificates of insurance in form satisfactory to Lender, including
<br />stipulations that coverages will npt be cancel�ed 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 or default of Trustor or any other person. Should the Real Property be Iocated in an area designated by the Director of
<br />the Federal Emergency Management Ager�cy as a special tlood hazard area, Trustor agrees to obtain and maintain Federal Ftood
<br />Insurance, if available, for the full unpaid principal baiance of the loan and any prior liens on the property securing the loan, up to the
<br />maximum pplicy limits set under the National Flopd Insurance Program, or as otherwise required by Lender, and to maintain such
<br />insurance for the term of the loan.
<br />Appllcatipn pf Prpceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof ot loss
<br />if Trustor fails to do so within tifteen (15) days of the casualty. Whether or nvt Lender's security is impaired, Lender may, at Lender's
<br />election, receive and retain the proceeds of any insurance and apply the proceeds ta the reduction af the Indebtedness, payment 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. Lender shall, upon
<br />satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost of repair or restoratipn if
<br />Trustor is not in default under this Deed of Trust. Any proceeds which have nat been disbursed within 180 days after their receipt
<br />and which Lender has not committed #o the repair or restaration of the Prpperty shall be used first to pay any amount owing to Lender
<br />under this paed of Trust, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balsnce of the
<br />Indebtedness. If Lender halds any proceeds after payment in full of the Indebtedness, such proceeds shall 6e paid tq Trustor as
<br />Trustpr's interasts may appear.
<br />LENpER'S EXPENDITURES. If 7rustor fails (AI tn keep the Property free of all taxes, liens, security interests, encumbrances, and other
<br />claims, (B) tv provide any required insurance on the Property, or (Cl 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 not required to, take any action that Lender believes to be appropriate to protect Lender's interests. All expenses incurred or paid by
<br />Lender for such purposes will than Uear interest at the rate charged under the Note from the date incurred or paid by Lendar to the date of
<br />rapayment py Trustor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand;
<br />(B) be added to the balance of the Note and be apportioned ampng and be payable with any installment payments to become due during
<br />either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a bal�oon payment
<br />which will be due and payable at the Note's maturity. 7he Deed of Trust also will secure payment of these ampunts. The rights provided
<br />far in this paragraph shall be in addition to sny other rights or any remedies to which Lender may be entitled on accpunt of any default.
<br />Any such action by Lender shall not 6e construed as ouring the default so as to bar Lender from any remedy that it otherwise would have
<br />had.
<br />WARRANTY; DEF6NSE OF TITLE. The following provisions relating to ownership of the F'roperty are a part of this Deed of Trust:
<br />Title. Trustar warrants that: (a) 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 of, and accepted by, Lender in connection with #his Deed of Trust, and (b) Trustor has the full right,
<br />power, and authority ta execute and deliver this Deed of Trust to Lender.
<br />Defense of Title. Subject to th� exCeptipn 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 dsfend 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
<br />by counsel of Lender's own chpice, and Trustor will deliver, or cause to be delivered, to Lender such instrumants as Lender may
<br />request frpm time tp time ta permit such participation.
<br />Compliance With l.aws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable
<br />laws, ordinances, and regulations of governmental suthori#ies.
<br />Survival of Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shall survive the executipn
<br />and delivery of this Deed of Trust, shall be continuing in nature and shall remain in full Force and effect until such time as Borrower's
<br />Indebtedness is paid in full.
<br />CONDEMNATION. The following provisions relating to condemnation prncaedings are a part of this beed of Trust:
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shail pramptly notify Lender in writing, and Trustor shall promptly
<br />take such steps as may be nacessary to defend the action and obtain the award. Trustor may be the nominal party in such
<br />proceeding, but Lender shall be antitled to participate in the proceeding and to be represented in the proceeding by counsel of its own
<br />choice, and Trustor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by
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