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201109871
<br /> DEED OF TRUST
<br /> Loan No: 10000956 [COI1$InUOd) Page 2
<br /> Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property to make such
<br /> inspections and tests, at Trustor's expense, as Lender may deem appropriate to tletermine compliance of the
<br /> Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br /> purposes only and sFiall not be construed to create any responsi6ility or liability o�n the part of Lender to Trustor or
<br /> to any other person. The representations and warranties contained herein are based on Trustor's due diligence in
<br /> investigating the Property for Hazardous Substances. Trustor hereby (1) releases and waives any future claims
<br /> against Lender for indemnity or contribution in the event Trusmr 6ecomes liable for cleanu:p or other costs under
<br /> . any such laws;and (2} agrees to indemnify,defend,and hold harmless Lender against any and all claims,losses,
<br /> liabilities,damages,penalties,and expenses which Lender may direetly or indirectly sustain or suffer resulting from
<br /> a breach of this section of the Deed of Trust or as a consequence of any use,generation,manufacture,storage,
<br /> disposal,release or threate�ed release occurring prior to Trustor's ownership or intetest in the Property,whether or �
<br /> not the same was or should have been known to Trustor. The provisions of this section of the Deed of Trust,
<br /> including the obligation to indemnify and defend,shall survive the payment of the Indebtedness and the saYisfaction
<br /> and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any interest
<br /> in the Property,whether by forecbsure or otherwise.
<br /> Nuis�ance,Waste. Trustbr shall not ca�se, conduct or permit any nuisance nor commit, permit, or suffer any
<br /> stripping of o�r waste on o�r to the Property or any portion of the Property. Without limiting the generality of the
<br /> foregoing,Trustor will not remove,or gra�t to any other party the right to remove,any timber,minerals(including
<br /> oil and gas),coal,clay,scoria,soil,gravel or rock products without Lender's prior written consent.
<br /> Removal of Improvements. Trustor shall noY demolish or remove any Improvements from the Real Prope.rty without
<br /> Lender's prior written consent. As a condition to the removal of any Improvements,Lender may require Trustor to
<br /> make arrangements satisfactory to Lender to replace such Improvements with Improvements of at least equal
<br /> value.
<br /> Lender's Right to Erker. Lender and Lender's agents and representatives may enter upon the Real Property at all
<br /> reasonable times to attend to Lender's interests and to inspect the Real Property for purposes of Trustor's
<br /> compliance with the terms and conditions of this Deed of Trust.
<br /> Compliance with Governmental Requiremerrts. Trustor shall p�omptly comply with all laws, ordinances, and
<br /> regulations, now or hereafter in effect,of all governmental authotities appficable to the use or occupancy of the
<br /> Property. Trustor may contest in good faith any such law,ordinance,or regulation and withhold compliance during
<br /> any proceeding, including appropriate appeals,so long as Trustor has notified Lender in writing prior to doing so
<br /> and so long as,in Lender's sole opinion,Lender°s interests in the Property are not jeopatdized. Lender may require
<br /> Trustor to post adequate security or a surety bond,reasona6ly satisfacmry to Lender,to protect Lender's interest.
<br /> Duty to Protect. Trustor agrees neither to abandon orleave unattended the Property. Trustor shall do all other
<br /> acts,in addition to those acts set forth above in this section,which from the charecter and use of the Property are
<br /> reasonably necessary to protect and preserve the Property. .
<br /> TAXES AND LENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of
<br /> Trust:
<br /> Payment. Trustor shall pay when due(and i.n all events prior to delinquency)all taxes,special taxes,assessmeMS,
<br /> charges�including water and sewer�,fines and impositions levied against or on account of the Property,and shall
<br /> pay when due all claims for work done on or for services rendered or material furnished to the Property. Trustor
<br /> shall maintain the Property free of all liens having priority over or equal to tF�e interest of Lender under this Deed of
<br /> Trust, except for the lien of taxes and assessments not due and except as otherwise provided in this Deed of
<br /> Trust.
<br /> Right to Contest. Trustor may withhold payment of any tax,assessment,or claim in c¢nnection with a good faith
<br /> dispute over the obligation to pay,so long as Lender's interest in the Property is not jeopardized. If a lien anses or
<br /> is filed as a result of nonpayment,Trustor shall within fifteen (15) days after the lien arises or, if a lien is filed,
<br /> within fifteen (75)days after Trustor has notice of the filing,secure the discharge of the lien.,or if requested by
<br /> Lender,deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an
<br /> amount sufficient to discha�ge the lien plus any costs and attorneys'fees,or other charges that could accrue as a
<br /> result of a foreclosure or sale under the lien. In any contest,Trustor shall defend itself and Lender and shall satisfy
<br /> any adverse judgment before enforcement against the Property. Trustor shall name Lender as an additional obligee
<br /> ander any surety bond furnished in the co�test proceedings.
<br /> Evidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of paym��ent of the taxes
<br /> or assessments and shall authorize the appropriate governmental official to deliver to Lender at any time a written
<br /> statement of the taxes and assessments against the Property.
<br /> Notice of Construction. Trustor shall notify Lender aY least fifteen(15)days before any work is commenced,any
<br /> services are furnished,or any materials are supplied to the Property,if any mechanic's lien,materialmen's lien,or
<br /> other lien could be asserted on account of the work,services, or materials. Trustor wi11 upon request of Lender
<br /> furnish m Lender advance assurances satisfaciory to Lender that Trustor can antl will pay the cost of such
<br /> improvements.
<br /> PROPERTY DAMAGE INSURANCE. The following provisions relafing to insuring the Property are a part of this Deed of
<br /> Trust.
<br /> Maintenance of Insurence. Trustor 5hall procure and maintain policies of fire insurance with siandaFd extendetl
<br /> coverage endorsements on a replacement basis for the full insurable value covering all Improvements on the Real
<br /> Property in an amount sufficient to avoid application of any coinsurance clause, and with a standard mortgagee
<br /> clause in favor of Lender,together with such other hazard and liability insurence as Lender may reasonahly require.
<br /> Policies shall be written in form, amounts,coverages and basis reasonably acceptable to Lender and issued by a
<br /> company or companies reasonabiy accepta6le to Lender. Trustor, upon request of Lender,will deliver to Lender
<br /> from time to time the policies or certificates of insurance in form satisfactory to Lender;including stipulations that
<br /> coverages will not be cancelled or diminished without at least ten (10)days prior written notice to Lender. Each
<br /> insurance policy also shall include an�endorsement providing that coverage in favor of Lender will not be impaired
<br /> in any way by any act,omission or default of Trustor or any other person. Should the Real Property be located in
<br /> an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area,
<br /> Trustor agrees to obtain and maintain Federai Flood Insurance,if available,for the full unpaid principal balance of
<br /> the loan and any prior liens on the property securing the loan, up to the maximum�policy limits set under the
<br /> National Flood Insurance Program,or as otherwise required by Lender,and to maintain such insurance for the term
<br /> of the loan. �
<br /> Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may
<br /> make proof of loss if Trustor fails to do so within fifteen f15) days of the casualty. Whether or not Lender's
<br /> security is impaired, Lender may,at Lender's elecTion,receive and retai�the proceeds of any insurance and apply
<br /> the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property,.or the restoration
<br /> and repair of che Properiy. If Lender elects to apply the proceeds to restoretion and repair,Trustor shall repair or
<br /> � replace the damaged or destroyed I�mprovements in a manner satisfactory to Lender. Lender shall, upon
<br /> . satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost of
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