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<br /> ; � t2-3�-�997 DEED OF TRUST Page 3 �_,
<br /> � Loen No 621235 (ContUued) �S— �nQ��i� -
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<br /> Rlpht TO Conteat. Trustor may withhold payment of any tax,assessment, or clalm In connection with a good falth dispute o�ier tha obllgafion � {jf`
<br /> to pey,so long as Lenders Intgresl In Ihe Property Is not Jeopardized. II e Ilen enses or Is fded as a result of nonpeyment,Trustor sheli wlihin I �`-,`}�:
<br /> fittean(16)days ptter ihe Iien ed5es or,it 8 lien IS filed,withln fifteen(15)days flfter Trustor hes natice of the filing,seCUre Ihe discharpe of the • A;-e
<br /> Ilen, or II requesled by Lender, deposil wlih Lender cflsh or 6 suNiclent corporate suroty bond or other secudty s&tlsfactory to Lender In an �'"
<br /> amount suHicient to discherge Ihe Ilen plus any Costs antl attorneys'tees or other chflrges thBt Could accrue es a�esult of tt foreciosure or sale ���
<br /> under ihe Ilen. In any Contest,Trustor sh811 defend Itself and Lender and shan satisfy any adverse judgmenl before enforCement flgainst lhe -�;-?�--
<br /> Property. Trustor shell name Lender as an addllionel obligeo under any surety bond fumished fn the contest proceedings. _-��-_-
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<br /> Evldence of f�tryment. Trustor sh�ll upon demttnd furnlsh to Lendor seUStactory evldence of pnyment of the taxes or assessments and shall � wt-_••
<br /> ; authorize the appropdate qovemmentai officlal to delfver to Lender af any time a wrltten statement of ihe taxes and assessments&palnst tho .,�w::`�"—
<br /> Property. :,• ."`T.--.
<br /> � Notice ot Conatructlon. Trustor shall notliy Lender at least flNeen(16)days betore any work Is commenced,any services are furnlshed,or any ^ "
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<br /> materials are supplled to the Property,If any mechanic's ilen, materielmen's Ilen,Or oiher Aen couid bA asserted on account of the work, �,_-- -
<br /> seMces,or matedals. Trustor wlll upon request of Lender fumish to Lendor advance essurances 58tisfactory to Lender ihat Trustor can and wlll -`x---.
<br /> pay the cost ot such Improvements. _---
<br /> � PROPERTY DAMAGE INSURANCH. The followinp provislons relailnp to Insu�!np the Property are a part of this Deed of Trust. - __._ _ _
<br /> ' MalnfenanCe ot Inwrence. Trustor shall procure and malntaln palicles of flre insurance with standard extended coverage endorsements on a
<br /> i replacement basls tar tha fuil Insurable value c�vering all Improvements on the Reai Property In an smount sutNCient to avold appiiCatlon of any
<br /> .. colnsurence clause,and with e stendard mortgagee clause In favor of Lender.Trustor shail aiso procure and maintaln comprehenslve peneral
<br /> i Iiabllfty Insurence in such coverago amounts es Lender may request with trustoe and Lender belnp nemed as addltionai Insureds In such Ilabllity
<br /> Insurence pollCies. Additlonally,Trustor sholl malntain such other Insurance,includlny but not Ilmlted to hazard,buslness Interruptlon,and 3•
<br /> � boller Insurance,as Lender may reasonably requlre, Policles shall be wdtten In form,amounls,covereqes and basis reasonably ncceptebte to =
<br /> � Lender end Issued by a company or compantes reasonably acceptable io Lender. Trusta,upon request of Lender,wlll dallver to Lender(rom
<br /> Ilme lo time the polfcies or certificates of Insurance In form satisfflctory to Lender,Includiny stipulatlons that coverayes wlli not be cancelled or
<br /> � dlminished without at least ten(10)days'prlor wntten nollce to Lender. Eech Insurance pollcy al�o shali Include en endorsement providing Ihat
<br /> � coveraye In favor of Lender wlll not be Impalred In eny way by any aot,omisslon or deftult of Trustor or nny olhar person. Should the Real •
<br /> Property at any time become Iocated In an erea daslpneted by Ihe DlrectOr ol lhe Fedenl Emerpency Manaqemant Apency as n speclal Aood
<br /> haserd area,Trust�r eprees to obtaln Bnd malntaln Federel Flood Insurersce fa Ihe full unpald prinClpal belance of Ihe loan,up to the maxlmum -
<br /> policy Ilmits sat unCer Ihe Natlonel Flootl InsurenCe Proprsm,or as othenvise requlred by Lender,and to malnteln such Insurance for the term ot . :�-—
<br /> the loan. .
<br /> Appliclitlon of ProcNdi. Trustor shAll promplly notiry Lender of any loss or damape to the Property. Lender may make proof ot loss If Trustor --
<br /> lalls lo do so withln hAeen(16)days ot the casualty. Whether or not Lender's Security Is Impalred,Lender may,et Its eleCtlon,reCelve and retaln {M_
<br /> °� the prc�Ceeds of any Insurence and epply the proceeds to the reduCtlon of the Indebtedness,peymenl of any Ilen eftecting the Property,or the "
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<br /> res►oretlan and repeir of Ihe Property. If Lender elects to apply the proceeds to restoration and repalr, Trustor shall repalr or replace the • :�_
<br /> damaged or destroyed Improvemenls in a manner satistactory to Lender. Lentler shell,upon satisfactory proof of such expenditure,pay or
<br /> relmburse Trustor from the proCeeds far the reasonable cost of repalr or restoration if Trustor I5 not In defeult under thls Deed of Trust. Any " S
<br /> proCeeds whiCh have not been disbursed withln 180 days efler thelr recelpt end wh�h Lender has not committed to the repalr or restwatlon of ___
<br /> Ihe Properly shall be used first to pay any amount owing to Lendor under this Deed of Trust,then to pay accrued Interest,and the remelnder,If ' •
<br /> n�iy,Siiuii utl appiincJ Iu tha principai baianca of iha indabtncinass. i(ufnder iiuidy b��y Niiri;erod:dRbt p8ysr�e�:!rs f�'!I C'!hG Ir.dCbl�d.^.r.".,:::Ch --
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