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201200523
<br /> DEED OF TRUST
<br /> Loan No: 10001293 (COI�#itlued) Page 2
<br /> acknowledged 6y Lender in writing, fal any breach or violation of any Environmental Laws, (b) any use,
<br /> generation,manufacture, storage;treatment,disposal, release or threatened release of any Hazardous Su6stance
<br /> on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br /> threatened IitigaYion or clalms of any kind by any person relating to such matters; and (3) Except as previously
<br /> disclosetl to and acknowledged by Lender in writing, (aI neither Trustor nor any tenant,contractor,agent or other
<br /> autnorized user of the Property shall ase,generate,ma�ufacture,store,treat,dispose of or release any Hazardous
<br /> Substance on,under,a6out or from the Property;and (b) any such activity shall be conducted in compliance with
<br /> aii appiicable federal, state, and local laws, regulations and ordinances, including without limitation all
<br /> Environmental Laws. Trustor authorizes Lender and its agents to enter upon ihe Ptoperty to make such
<br /> inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine 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 a�nd shall not be construed to create any responsibility or liability on the part of Lender to Trustor or
<br /> �to any other persnn. The representations and warranties contained herein are based on Trustor's due diligence in
<br /> investigating the Property for Hazardous Substances. Trustor hereby 11) releases and waives any future claims
<br /> against Lender for indemnity or contribution in the event Trustor becomes liable for cleanup or other costs under
<br /> any such faws;and (2) agrees io indemnify,defend,and hold harmless Lender against any and all claims,losses,
<br /> liabilities,damages,penalties,and expenses which Lender may directly or indirectly sustain o�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 threatened release occurring prior to Trustor's ownership or interest 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 /> induding the obligaTion to indemnify and defend,shall survive the payment of the Indebted�ess and the satisfaction
<br /> and reconveyance of the fien of this Deed of Trust and shall not be affected by Lender's acquisition of any interest
<br /> in the Property,whether by foreclosure or otherwise. �
<br /> Nuisance. Waste. Trustor shail not cause, conduct or permit a�y ouisance nor commit, permit, or suffer any
<br /> stripping of or waste on or to the Property or any portion of the Property. Without limiting the generality of the
<br /> foregoing,Trustor will not remove,or grant to any other party the righi 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 not demolish or remove any Improvements from the Real Property without
<br /> Lender's prior written cronsent. As a condition to the removal of any Improvements,Lender may require Trustor io
<br /> make arrangements satisfaciory to Lender to replace such Improvements with Improvements of at least equal
<br /> value.
<br /> Lender's Right to Enter. Lender end Le�der'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 /> campliance with the terms and conditions of this Deed of Trust.
<br /> Compliance with Governmental Requiremerrts. Trustor shall promptly comply with all laws, ordi�ances, and
<br /> regulations, now or hereafter in effect, of all governmental authorities applicable to the use or occupancy of tlie
<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 jeopardized. Lender may require
<br /> . Trustor to post adequate security or a surety bond,reasonably satisfactory to Lender,to protect Lender's interest.
<br /> Duty to Ptotect. Trustor agrees neither to abandon or leave unattended the Property. Trustor shall do all other
<br /> acts,in�addition to those acts sei forth above in this section,which from the character and use of the Property are
<br /> reasonably necessary to protect and preserve the Property.
<br /> TAXES AND LIENS. 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 in all events prior to delinquency)all taxes,special taxes,assessments,
<br /> charges(including water and sewer),fines and impositions levied against or on account of the Property,and sliall
<br /> pay when due afl daims for work done on or for services rendered or material fumished to the Property. Trustor
<br /> shali maintain the Properiy free of all liens having priority over or equal to the 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 connection 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 arises or
<br /> is fited as a result of nonpayment,Trustor shall within fifteen (15) days after the lien arises or, if a lien is filed,
<br /> within fifteen (15)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 corporete surety bond or other securiry satisfactory to Lender in an
<br /> amount sufficient to dischatge the lien plus any costs and attorneys'fees,or other charges that could accrue as a
<br /> result of a foredosure or sale under the lien. In any contest,Ttustor 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 /> und�eY any surety bontl furnished in the contest proceedings.
<br /> Evidence of Payment. Trustor shall upon demand fumish to Lender satisfactory evidence of payment 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 /> iUotice of Constmction. Trustor shall notify Lender at 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 li.en, materialmen's lien,or
<br /> other lien could be asserted on account of the work,services,or materials. Trustor will upon request of Lender
<br /> furnish to Lender advance assurances satisfactory to Lender tfiat Trustor can and will pay the cost of such
<br /> improvements.
<br /> PROPERTY DAMAGE INSURANCE. The following provisions relating to i�suring the Property are a part of this Deed of
<br /> Trust.
<br /> Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended
<br /> coverage endorsements on a replacement basis for ihe 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 siandard mortgagee
<br /> clause in favor of Lender,together with such other hazard and liability insurance as Lender may reasonably require.
<br /> Policies shall be written in form,amounts,coverages and basis reasonably acceptable to Lender and issued by a
<br /> company or companies reasonably acceptable m Lentler. 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 canceiled or diminished without at least ten 110)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 o�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 Federal 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 maintai�such insurance for the term
<br /> of the loan.
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