|
Loan No: 107251264
<br />DEED OF TRUST
<br />(Continued) 2 Q�, 2 0� s 4� Page 2
<br />TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrents that: (a) this Deed of Trust is executed at
<br />Borrower's request and not et the request of Lender; (b) Trustor has the full power, right, and authority to enter into
<br />this Deed of Trust and to hypothecate the Property; (c) the provisions of thia Deed of Trust do not conflict with, or
<br />result in a default under any agreement or other instrument binding upon Trustor and do not result in a violetion of any
<br />law, regulation, court decree or order epplicable to Trustor; (d) Trustor has establ(shed adequate means of obtaining
<br />from Borrower on a continuing basis information ebout Borrower's financial condition; end (e) Lender hes made no
<br />representation to Trustor about Borrower (including without limitation the creditworthiness of Borrowerl.
<br />TRUSTOR'S WAIVERS. Trustor waivea all righta or defenses arising by reason of eny "one action" or "anti-deficiency"
<br />law, or any other law which may prevent Lender from bringing any action ageinst Trustor, including a claim for
<br />deficiency to the extent Lender is otherwise entitled to a cleim for deficiency, before or after Lender's commencement
<br />or completion of any foreclosure action, either judicially or by exercise of a power of sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all
<br />Indebtedness secured by this Deed of Trust es it becomes due, and Borrower end Trustor shall pefform ell their
<br />respective obligations under the Note, this Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's
<br />possession end use of the Property shall be governed by the following provisions:
<br />Possession and Use. Until the occurrence of en Event of Default, Trustor mey (1) remefn in possession and
<br />control of the Property; (21 use, operete or manage the Property; end 13) collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintein the Property in tenantable condition and promptly perform ell repeirs,
<br />replacements, and meintenence necessary to preserve its value.
<br />Compltance With Environmental Lews. Trustor represents and warrants to Lender that: (1) During the period of
<br />Trustor's ownership of the Property, there has been no use, generetion, manufacture, storage, treatment, disposai,
<br />release or threatened release of any Hazardous Substance by any person on, under, about or from the Property;
<br />(2) Trustor has no knowledge of, or reason to believe that there has been, except as previously disclosed to and
<br />ecknowledged by Lender in writing, (a) any breach or v(olation of any Environmental Laws, Ib) any use,
<br />generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance
<br />on, under, about or from the Property by any prior owners or occupents of the Property, or (c) eny actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; end (3) Except as previously
<br />iiisclosed to and acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other
<br />authorized user of the Property shall use, genarete, manufacture, store, treat, dispose of or release any Hazardous
<br />Substance on, under, about or from the Property; and (b) eny such activity shall be conducted in compliance with
<br />all applicable federal, state, and locel laws, regulations and ordinances, including without limitation ell
<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 mey deem appropr(ete to determine compliance of the
<br />Property with this section of the Deed of Trust. Any inspections or tests made by Lender shell be for Lender's
<br />purposes only and shall not be construed to create eny responsibility or liability on the part of Lender to Trustor or
<br />to any other person. The representetions and warrenties contained herein are based on Trustor's due diligence In
<br />investigating the Property for Hezardous Substances. Trustor hereby (1) 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 laws; and (2) agrees to indemnify, defend, and hold harmless Lender against any and all claims, losses,
<br />liebilities, damages, penalties, end expenses which Lender may directly or indirectly sustain or suffer resulting trom
<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 ot Trust,
<br />including the obligation to indemn(fy and defend, shall survive the payment of the Indebtedness end the setisfaction
<br />and reconveyance of the lien of this Deed of Trust and shall not be effected by Lender's acquisition of any interest
<br />in the Property, whether by foreclosure or otherwfse,
<br />Nuisance, Waste. Trustor shall not ceuse, conduct or permit any nuisance 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 parry the right to remove, any timber, minerals (including
<br />oil and gas), coal, clay, scoria, soil, grevel or rock products without Lender's prior written consent.
<br />Removal of Improvements. Trustor shall not demolish or remove eny Improvements from the Real Property 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 EMer. 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 Properry for purposes of Trustor's
<br />. compliance with the terms and conditions of this Deed of Trust.
<br />Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and
<br />regulations, now or hereafter in effect, of all governmentel authorities epplicable to the use or occupancy of the
<br /><<
<br />.j
<br />;,
<br />`
<br />s:r
<br />r,
<br />�1
<br />
|