Edwards, a one-time winner on the Champions Tour, posted a 7-under 65 over the Crosswater Club course. His two-day total of 132 gave him the lead over Mark McNulty.
McNulty, who shared the first-round lead with Mike Reid, shot a 68 to get to 134.
Edwards birdied the first two holes and four of the last six. His only previous Champions Tour triumph came last year at the 3M Championship.
He has finished no higher than a tie for fourth place this year.
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