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<br />� ' DEED OF TRUST � Q i O Q 9 s$ 8
<br />Loan No: 901237296 p (Continued) Page 3
<br />Evidence pf Payment. Trustor shall upon demand furnish to Lender satisfactory evidenca of payment of the taxes or assessments and
<br />shall authorize the appropriate gpvarnmental official to deliver to Lender at any tima a written statement of the taxas and assessments
<br />againat tha Prqperty.
<br />Notice of Construction. Trustor shall notify Lender at least fifteen (15) days befpre any work is commenced, �ny services are
<br />furnished, or eny materials ara supplied ta the Proparcy, if any mechanic's lien, materialmen's lien, or other lien could be asserted an
<br />account of th9 work, services, pr materials. Trustor will upon request of Lender furnish to Lender advance assurances satisfectory to
<br />Lender that Trustor can and will pay the cost of such improvements.
<br />PROPERTY DAMAG� INSURANCE. 7he following provisions relating to insuring the Property are a psrt of this Deed of Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintein policies of fire insurance with standard extended cpverage
<br />endorsements on a tair value basis for the full insurabie value covering all Improvements on the Real Proparcy in an amount sufficient
<br />to evoid application of any coinsurance cleuse, and with a standard mortgagee clause in favqr pf Lender. Trustor shall also procure
<br />and maintain comprehensive gensral 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 ta hazard, business interruption, and bniler insurance, as Lender may reasonably require. Pvlicies shall be
<br />written in form, amounts, coverages and bssis reasonably acceptable to Lender and issued by a cvmpany or companies reasonably
<br />acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the policies or certiticates of insurance
<br />in form satisfactory ta Lender, including stipulatipns that cpvarages will not be cancelted or diminished withaut at least tsra (10) day�
<br />pripr written notice to Lender. Each insurance policy alsp shall include an endorsement providing that coveraga in favor pf Lender will
<br />not be impaired in any way by any act, omission or default of Trustor or any other perspn. Should the Real Property be Iocated in an
<br />area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area, 7rustor agrees to
<br />obtain and maintain Federal Flood Insurance, if available, for the fuil 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 requirsd
<br />by Lender, and tp maintain such insurance for the term pf the toan.
<br />Application of Proceads. Trustor shall promptly notify �,ender pf eny Ipsa or damage to the Property. Lender may make proaf pf loss
<br />if Trustor fails to do sa within fifteen (15) days of the casualty. Whether pr not Lender's security is impaired, l.ender may, at I.ender's
<br />election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction pf the Indebtedness, payment of
<br />any lien affecting the F'roperty, or the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and
<br />repair, Trustor shali repair or raplaca the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br />satisfactory prppf pf such expenditure, pay or reimburse Trustar from the proceeds fpr the reasonable cost of repair or restoration if
<br />Trustar 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 cammitted to the repair or restoration of the Property shall be used first to pay any amount owing to Lender
<br />under this peed of Trust, then tp pay accrued interest, and the remainder, if any, shall be appiied to the principal balance of the
<br />Indebtedness. If Lender holds any proceeds after payment in full pf the Indebtedness, such proceeds shall be paid ta Trustar as
<br />Trustor's interests may appear.
<br />Cpmpliance wlth Existing Indebtedness. During the periad in which �ny Existing Indebtedness described below is in effect, compliance
<br />with the insurance provisions contained in the instrument evidencing such Existing Indebtedness shail cnnstitu#e compliance with the
<br />insurance pravisions under this Deed of Trust, to the extent compliance with the terms of this Deed of Trust would constitute a
<br />duplication of insurance requirement. If any proceeds from the insurance become payable on loss, the provisions in this Deed ot Trust
<br />for division of proceeds shall apply only to that portion of the procesds not payable to the holder of the Existing Indebtedness.
<br />Trustor's Repart on Insurance. Upon request of l,ender, hpwever npt mqre than once a year, Trustor shail furnish to Lender a report
<br />on each existing policy af insurance showing: (1) the name of the insurer; (2) the risks insured; (3) the ampunt of the policy; (�)
<br />the property insured, the then current replacement value of such property, and the mannar of determining that value; and (5) the
<br />expiration date of the policy. Trustpr shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine
<br />the cash YAlue replacement cost of the Property.
<br />LENbER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's Iqj�p,�x.1+a. thp Pr4party qr if
<br />Trustor fails to camply with any provisipn of this Deed af Trust or any Related Documents, including but noL limited to firustar's failure tp
<br />compiy with any obligation to maintaln Existing Indebtedness in goad standing as required below, or to discharge or pay when due any
<br />amounts Trustor is required ta discharge or pay under this Deed of Trust or any Related Documents, Lander on Truator's behalf may (but
<br />shali not be abligated to) take any action that Lender deems appropriate, including but not limitsd to discharging or paying all taxes, liens,
<br />security interests, encumbrances and other claims, at any time levied or placed on the Property and paying all costs for insuring,
<br />maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the
<br />rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Trustor. All such expenses will become
<br />a part of the Indebtedness and, at Lender's option, will (A) be peyable an dem�nd; (B) be added to the balance of the Note and be
<br />apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance
<br />policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's
<br />maturity. The Deed of Trust also will secure payment of these amounts. Such right shall be in addition to ail other rights and remedies to
<br />which Lender may be entitied upon Default.
<br />WARRANTY; DEFENSE OF TItLE. The fvllowing provisions relating tp ownership of the Property are a part of this Deed of 7rust:
<br />Title. Trustor warrants that: (a) Trustor holds good and marketable titla of record to the Property in fee simple, free and clear of all
<br />liens and encumbrances other than #hqse set forth in the Real Property description or in the Existing Indebtedness sectipn belpw or in
<br />any title insurance policy, title report, or final title opinion issued in favor of, and accapted 6y, Lender in connection with this Deed of
<br />Trust, and (b) Trustor has the full right, power, and authority ta execute and deliver this Deed of Trust to Lender.
<br />Defense of Title. SubJect to the exception in the paragraph above, Trustar warrants and will forever defend the title to the Property
<br />against the lawful claims of ail persons. In the avent any action pr proceeding 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 Trustnr'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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