Toledo was in a second-place tie after the first round -- which concluded Saturday morning following Friday's a long rain delay -- but he later forged ahead, ending 36 holes at 6-under 138.
That was one better than a trio knotted at minus-5, including Champions Tour points leader Bernhard Langer, who fired a 6-under 66 at TPC Sugarloaf.
First-round leader Michael Allen stumbled to a 73, falling into a tie for sixth place at 4-under with Gene Sauers (68).
2014: NFL Cheerleaders [PHOTOS]
Michael Sam cut from the Dallas Cowboys