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Loan No: '123590
<br />�EED OF TRUST �O i� O O U�:�
<br />(Continuedl �a9e 2
<br />any other party th� right to remove, any timber, minerals (including pil and gasl, coal, clay, scaria, soil, gravel or rock products
<br />withput Lender's prinr written consent.
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements frvm the Real Property without Lender's prior
<br />written consent. As a candition to the removal of any Improvements, l.endar may require Trustor to make arrangements satisfactnry
<br />to Lender to replaca such Improvements with Improvements of at least equal value.
<br />Lender's Right to �nter. Lender and Lender's agents and representatives may entar upon the Real Property at all reasona6le times to
<br />attend to Lender's interests end to inspect the Real Property for purposes of Trustor's compliance with the terms and conditions of
<br />this Deed of Trust.
<br />Compliance with Governmental Requirements. Trustvr shall promptly comply with all laws, ordinances, and regulations, now or
<br />hereafter in effect, of all govemmental authorities applicable to the use or occupancy of the Property. Trustnr may contest in good
<br />faith any such law, ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals, sv long as
<br />Trustor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests in the Property are
<br />not jeopardized. Lender may require Trustor to post adequate security or a surety bond, reasonably satisfactory to Lender, to protect
<br />Lender's interest.
<br />Duty to Protect. 7rustar agrees neither ta abandon or leave unattended the Property. Trustor shall do all other acts, in addition to
<br />those acts sat forth above in this section, which from the cherecter and use of the Property are reasonably necessary to protect and
<br />preserve The Property.
<br />TAXES AND LIENS. The following provisions relating tn the taxes and 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 the F'roparty, end shall pay when due all claims for work done
<br />on or for services rendered or material furnished to the Property. 7rustnr 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 essessments not due, except far the
<br />Existing Indebtedness referred to below, and except as otherwise prnvided in this Peed of Trust.
<br />Right to Contest. Trustor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the
<br />obligetion to pay, so long as Lender's interest in the Property is not jeopardized. If a lien erises or is filed as a result of nnnpayment,
<br />Trustor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (15) days after Trustor has notice of the
<br />filing, secure the discharge af the lien, or 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 tv discharge the lien plus any nosts and attorneys' fees, or other charges
<br />that could accrue as e result of a foreclosure or sale under the lien. In any contest, Trustor shall dafend itself and Lender and shall
<br />satisfy any adverse judgment before enforcement egainst the Property. Trustor shall name Lender as an additional obligea under any
<br />surety 6ond furnished in the cnntest proceedings.
<br />Evidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidance of payment of the taxes or assessments and
<br />shall authorize the apprnpriate governmental official to deliver to Lender at any time a written statemant nf the taxes and assessments
<br />against the Property.
<br />Notice of Canstruction. Trustor shall notify �ender at least fifteen (15) days before any work is commenced, any services ere
<br />furnished, or any materials are supplied to the Property, if any mechenic's lien, materialmen's lien, or other lien could be asserted on
<br />account of the work, services, or matarials and the cost exceeds 51,000.00. 7rustor will upon request of Lender furnish to Lender
<br />advance assurances satisfactory to Lender that Trustor can and will pay the enst of such imprvvaments.
<br />PROPERTY DAMAGE INSURANCE. 7he following provisions relating to insuring the Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. 7rustor shall procure and maintain policies of fire_insurance. with stand�[d_...axtended..coverage...
<br />endorsements on a fair vaiue basis for the full insurable value covering all Improvements on the Real Property in an amvunt sufficient
<br />to avoid application of any coinsurance clause, end with a standard mortgagee clause in favor of Lender, together with such other
<br />hazard and liability insurence 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 companias reasnnably 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 not ba cancelled or diminished without at least tan �10) days prior written nntice to Lender. Each
<br />insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impeired in any way by any
<br />act, omission or default of Trustor or any other parsnn. Should the Real Property be located in an area designated by the Directnr of
<br />the Federal Emergency Management Agency as e special flood hazard area, Trustor agreas to obtain and maintain Federal Flood
<br />Insurance, if available, within 45 days after notice is givan by Lender that the Property is Incated in a special flood hazard area, for the
<br />maximum amount of Trustor's credit line and the full unpaid principal balance ot any prior liens on the property securing the loan, up
<br />to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain
<br />such insurance for the term of the laan.
<br />Application of Proceeds. Trustor shall promptly notify Lender of any Ioss or damage to the Property if the estimated cost nf repair or
<br />replacement exceeds S1,OOQ.00. Lender may make proof of loss if Trustor fails to do so within fifteen (15) days of the casualty.
<br />Whether or not Lender's security is impaired, Lender may, at Lender's election, receive and retain the proceeds of any insurance and
<br />apply the proceeds to the reduction nf the Indebtedness, payment of any lien affecting the Property, or the restoration and repair of
<br />the Property. If Lender elects to apply the proceeds to restoration and repair, Trustor shall repair or replace the damaged or destroyed
<br />Improvements in a manner satisfactory to Lender. Lender shall, upon setisfactory proof of such expenditure, pay or reim6urse 7rustor
<br />from the proceeds for the reasonable cost of repair or restoration if Trustor is nqt in default under this Deed of Trust. Any prpceeds
<br />which have not been disbursed within 180 days after their receipt and which Lender has not committed to the repair vr restnration of
<br />the Property shall be used first tn pay any amount owing to Lender under this Deed of 7rust, then to pay accrued interest, and the
<br />remainder, if eny, shall be applied to the principal balance of the Indebtedness. If Lender holds any proceeds after payment in full of
<br />the Indebtedness, such proceeds shall be paid to Trustor as Trustor's interests may appear.
<br />Compliance with Existing Indebtedness. During the period in which any Existing 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 provisivns 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 eny proceeds frvm the insurance become payable on Ioss, the provisions in this Deed of Trust
<br />for division of praceeds shall �pply only to that portion of the praceeds not payable ta the holder of the �xisting Inde6tedness.
<br />LENDER'S EXPENDITURES. If Trustbr fails (�) to keep the Prpperty free of all taxes, liens, security intarests, encumbrances, and other
<br />claims, (B) to provide any required insurance on the Property, (C) to maka repairs to the Praperty or to comply with any obligation to
<br />maintain Existing Indebtedness in gaod standing as required below, then Lender may do so. If any ection or procaeding is commenced that
<br />would materially affect Lender's interests in the Property, than 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 dats 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; (e) 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 />the term of any applicable insurance policy; or (2) the remaining term of the Credit Agreement; or (C) 6e treated as a balloon payment
<br />which will be due and paya6le 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 be in addition to any other rights or any remedies tn which Lender 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 Qf TITLE. The following provisions relating to ownership nf the Property are a part of this beed ot Trust:
<br />Title. Trustor werrants that: la) Trustor holds gond and marketa6le title of record to the Property in fee simple, free and claar of all
<br />liens and encumbrances other than those set forth in the Real Property description or in the Existing Indebtedness section 6elow or in
<br />any title insurance palicy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of
<br />Trust, and (b) Trustor has the full right, power, and authority to execute and deliver this Deed of Trust to Lender.
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