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<br /> ' Ot'-os-1998 qEED OF TRUST Page 3 °
<br /> � ,• Loen No 626333 (Continued) 9$.— 1(��!�(�S
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<br /> oi Ttusl.
<br /> � Rlpht To Conttst. Trusla moy withhold payment of any tux,assessment,or clalm In connectlon with a pood falth dlspute over tt�e obli�tNOn -
<br /> lo pay,so lony as Lendefa Intersst In the Properiy Is not Jeopardlz8rl. If e Ilen aASes or IS Hled ae a result of nonpayment,Trustor ehall wllhin .. ;�
<br /> fiNeen(16)days a8er Ihe�en edses or,If a Ilen Is fiied,wlthln flftesn(16)days elter Trustor hes nollce of the lulnp,secure In�dlscharpe ol lhe .�
<br /> nen, or If requested by Lender,deposlt wlth Lender cash a e suNiclent corparete surety bond a other security satislactay to Lender In an
<br /> amount auHiclont to disclurqe Ihe Ilen plus eny costs end atlorneys'lees or other Chtrqea tha!could accrue as a result of e breclosure or sale �.
<br /> under the Iien, In any conlest,Trustor shall debnd ItsWf and Lender end shall aatisly eny adwre�Judqment b�fore onforcemenl ap�insl Ihe
<br /> Proporfy.Truetor�hell nema Lender es an edditlonel obll�ee under any sureiy bond turnlshad In the contest prxeedirp�.
<br /> Evid�net of P�ymmG Trusta shall upon demand furnlsh to Lender setlstaotory eNdencs of payment of the texes or assessmenta�nd ehall
<br /> authorize the approprlate qovernmental otHcial to deilver to Lender et any time a written sfatement of Ihe taxes and assessments aqtlnst the ,
<br /> Property. _
<br /> Notlu of Const►uclbn.Trustor shall notify Lender at least fifloen(16)days belore any work Is commenced,any aeMCes are turnlsh�d,or cny � „ � :,
<br /> materkis are supplied to Ihe Property, If eny mechenlc's Ilen, metedalmen's Ilen, or other Ilan couid be asserted on eaount of tha work, ;�,
<br /> services,a mate�ials.Trustor wYi upon request of Lender furnlsh to Lender advance assurances satisfactory to Lender that Trustor can and wiil �Q,.,-'
<br /> pay the cost of suah impravernents. �i�.�
<br /> PROPERTY DAMAGE INSU�iAlICE.The followinp provistons reialiny to Insu�lnp the Property are a ptrt of this Daed of Trust, „`�;
<br /> OAalnt�nmee of leturana. Trustor shell procure and maintain potiGes of flre Insur�nce with at�ndard exfendsd coverape mdat�rtNnb on n = —
<br /> replac�ment bnsis fa the NII Insurable vulue cove�iny all improvements on the Real Property In an amount SutNcNnt to avold ippl�atlon of tny
<br /> colnsurance clause,tnd wllh a atandard mortyayee clause In favor of Lendur. Trustor shall also prxure and malntaln oomprehenaiw general
<br /> Ilab'iity Insurance In suah wvenqe amounts as Lender mty r�quast with trustee and Lend�r bNnp named aa addillond Insa�ds In such IlabNlty ��,:,�
<br /> Insurance pol�les. AddlYOnalry,Trustor shail malntaln suat�olher Insurance,Inciudlnq but not Ilmited to hezard, buslness Intertuption,end ,
<br /> bolter Insurance,as Lend�may reasonably requlre. PoNCies shall be wriflen in form,emounts,coverapes and basis reeso�ubly�cceptable to �
<br /> I Lender and issued by a cornpany ar compenles reasonebty acceptable to londer. Trustor,upon request of Lender,wlll defver to Lender hom
<br /> time to time the policles a ceAlficates of Insurance In fam salistactory to Lender,Including stlpuiatlons that coverages wfll not be cancelled or
<br /> diminlshed without at leeslten(tU)days'prior written notice to Lender. Eech Insuranca policy also shall Include en endorsemont proNdtnp ihat
<br /> ' coverage in favor of L9�der wYl not be impalred In any way by any act,omisslon or defautt of Trustor or any other persoa Should the Real .
<br /> � Property at any time becana located in an area designated by the Director of the Federal Emerqency Management ApenCyas a speclat Aood
<br /> ; hazard area,Trustor egrees to obtaln and matntaln Federal Flood Insurance for t�e fuA unpald prtnctpal balance of the ba�,up to the meximum
<br /> policy Ilmlls sel under the Natlonal Fbod Insurance Program,or as othervvlse requlred by Lender,and to maintain such Insurence for the term ot
<br /> the loan.
<br /> �' AppIlC�tlon o}Ptoteeda.T�ustor shail promplly notify Lender of any loss or damaye to the Property. Lender may make proof of Ioss If 7rustor �.
<br /> �� fails to do so wlthin Gfteen(t S)days of the cctsualty. Whether or not Lenders security Is Impatred,Lender may,at its elactio4 r9celve end nttin •��
<br /> the proceeds of any Insunnce and apply the proceeds to the reducnon of ihe indebtednoss,payment of any Men aftecGnfl Ihe Property,or ihe
<br /> ' restontlon and rapalr of tha Property. If Lender elects to eppiy the proceeds to restoraUon and repalr,Trustor shall �aptir a repiaca the , . •,�.� _
<br /> damaped or destroyed Improvements In a manner eaUsfactay to Lender. Lender shall,upon satlsfaclory proof of euah�enditure,pay a ;
<br /> refmburse Trustor hom tM proceeds tor tt�e reasonable cost of repek or restoretlon if Trustor is not In defauit under this Ooed of Trust. Any
<br /> proCeeds wh�h have nolbeen disbursed withln 180 days afler thair recelpt and which Lender has not committed to tla repelr or restuatlon of �y,-:,
<br /> the Properly shall be used Nrst to pay any amount owinp to�ender under inis�eed of Trust,Ihnn lu y8y di:i:filud Iidd�b52.ar�iha rsmainC6r,tf :--��; `5 , :��,
<br /> any,shall be apptfed to the principal belance of the Indebtedness. If Lender holds any praceeds atter peyment in tuil of the Indebledness,suCh
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<br /> proceeds shal be peld toTrustor as Trustors interests mey eppear. �j^c:
<br /> Unexpired I�aurenCe st Sele.Any unexpired Insurance shatl Inure to the benefil oi,and pass to,the purchaser of the Propedy covered by this �' 31 ����'
<br /> , Oeed of Trust et any Uuslee's sele w other sale held under the provisbns of this Deed of Trust,or at any foreclosure sele of such Properly. r' ^;.
<br /> Trusto►'t Report on Inaura�ce. Upon request of Lender,however not more than once a year,Trustor shall turnish to Lender a report on eech "
<br /> existing poHCy of Insaance showiny: (a)the name of the Insure�; (b)the dsks Insured; (c)the amount of the poilcy; (d) tha properly Insured, �;. ; ,
<br /> the then current replacenent value of such property,and the manner of determinlnp that vawe;and (e)the expUation date oi the pdby.
<br /> Trusta shati,upon requesl of lender,have an Independent appraiser sallsfactory to Lender determine the cash value repucement cost of the
<br /> Property. __
<br /> OfPENO1TURES BY LENDEP. If Trustor falls to comply wlth any provislon of this Oeed of Trust,or If any actlon or proceedinp b commenced Ihat ^-•_�—
<br /> ' would materlally aMect Lender6lnterests In the Property,Lender on Truslor's behalf may,bu!shell not be requlred to,tako anytCtlon thtt Lender " ,,. _
<br /> � deems epproprlate. Any amount thet Lender expands in so doinq wlll bear Interest at the rate provided tor In the Note hom the d�le fncurrod a paid , -
<br /> by Lender to the date of repayment by Trustor. All such exp9nses,af Lender's option,wlll (a)be payable on demend, (b)be added to the bai�nce �,F,�_
<br /> of the Noto and be appaqoned amor.g and be payable with any Instaliment payments to beCOme due durinp elther (i)the term of any applkAble , .
<br /> Insurance pollcy or (II)the remelninp term of the Note,or (c)be treated as a ballaon payment which will be due and payable at Ihe Note's mnturity. -�. T
<br /> This Deed of Trust also wlll sep�ra peyment of these amounts. The rights provlded fu In thls paraqraph shall be In nddition to any othir riyhts a any ��`�'"
<br /> remedles to whlch Lender maybe enlltled on account of the defadt. Any such ectlon by Lender sheli not be construed as cuAnq Ne deteull so es to • '��a-:.�
<br /> bar Lender from any remedy Ihet it dherwise would have had. � T�'='
<br /> ' WARRANTY;DEFENSE OF TITLE.The toliowing provislons relating to ownershlp of the Proporty are n part of thls Deed of Trusl �' �
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<br /> Tltle. Trustor warraMs thet: (a)Trustor hdds good and marketable tltie of record to fhe Property In tee slmple,free and dear W ell Ile�s and �_'��=��'
<br /> enCUmbranCes other Ihanlhose set forth In the Real Property desc►Ipibn or In any tltle InsuranCe poliCy,tltie report,or final tile opinlon Issued in .�'��--°--
<br /> � favor of,and aCCepted by,Lender In connecdon with this Deed of Trust,and (b)Trustor has the tull rbht,power,and authaity to execute tnd ���'°}
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