|
Loan No: 101252176
<br />DEED OF TRUST
<br />(continued) 2 012 0 3 2� 5 Pes� 2
<br />ANY AND ALL OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS
<br />DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at
<br />Borrower's request end not at 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; (c1 the provisions of this Deed of Trust do not conflict with, or
<br />result in a default under any agreement or other instrument binding upon Trustor end do not result in a violation of any
<br />law, regulation, court decree or order epplicable to Trustor; (d) Trustor hes established edequate means of obtainfng
<br />from Borrower on a continuing besis information about Borrower's financial condition; and (e) Lender has made no
<br />representation to Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br />TRUSTOR'S WAIVERS. Trustor weives all rights or defenses arisfng by reason of any "one action" or "anti-deficiency"
<br />law, or any other law which may prevent Lender from bringing any action against Trustor, including a claim for
<br />deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender's commencement
<br />or completion of any foreclosure action, either judicially or by exercise of e power of sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower and Trustor shall pay to
<br />Lender all Indebtedness secured by this Deed of Trust as it becomes due, and Borrower end Trustor ahell strictly
<br />perform all their respective obligations under the Note, this Deed of Trust, end the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's end Trustor's
<br />passession and use of the Property shall be governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remein in possession and
<br />control of the Property; (2) use, oparate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintein the Property in tenantable condition and promptly perform ell repairs,
<br />replecements, and maintenance necessary to preserve its value.
<br />Compliance With Envlronmental Laws. Trustor represents end werrants to Lender that: (1) During the period of
<br />Trustor's ownership of the Property, there has been no use, generation, manufacture, storage, treatment, d(sposal,
<br />release or threatened release of any Hazardous Substance by eny person on, under, about or from the Property;
<br />(2) Trustor has no knowledge of, or reason to believe that there has been, except es previously disclosed to end
<br />acknowledged by Lender in writing, (a) eny breach or violation of any Environmental Laws, (b) any use,
<br />generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Subatance
<br />on, under, about or from the Property by any pr(or owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by eny person relating to such matters; and (3) Except es previously
<br />' disclosed 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, generete, menufecture, store, treat, dispose of or release eny Hazerdous
<br />Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with
<br />�� all appliceble federal, state, and local lews, reguletions and ordinances, including without limitetion all
<br />Environmental Lews. Trustor authorizes Lender end its agents to enter upon the Property to meke such
<br />inspections and tests, at Trustor's expense, as Lender may deem eppropriate to determine compliance of the
<br />Properry with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br />purposes only and shall not be construed to create eny responsibility or liebility on the part of Lender to Trustor or
<br />to eny other person. The representetions and warranties contained herein are based on Trustor's due diligence in
<br />investigating the Property for Hazerdous Substences. Trustor hereby (1) releases and waives any future cleims
<br />against Lender for indemnity or contribution (n the event Trustor becomes Ilable for cleanup or other coats under
<br />any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender ageinst any end all claima, losses,
<br />liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustein or suffer resulting from
<br />a breach of this section of the Deed of Trust or as a consequence of eny use, generation, manufacture, atorege,
<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 />• including the obligation to indemnify end defend, shall survive the payment of the Indebtedness and the satisfaction
<br />and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of eny interest
<br />in the Property, whether by foreclosure or otherwise.
<br />� ;.
<br />�;
<br />Nuisance, Waste. Trustor shall not cause, conduct or permlt any nuisance nor commit, permit, or suffer any
<br />stripping of or waste on or to the Property or any portion of the Property. �thout limiting the generatlty of the
<br />foregoing, Trustor will not remove, or grant to eny other parry the rfght 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 consent. As a condition to the removal of eny Improvements, Lender may require Trustor to
<br />make errangements satisfactory to Lender to replace such Improvements with Improvements of at least equal
<br />value.
<br />Lender's Rtght to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all
<br />reasonable times to attend to Lender's interests end to inspect the Real Property for purposes of Trustor's
<br />camplience with the terms and conditions of this Deed of Trust.
<br />�
<br />�`
<br />��e.
<br />CompBance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinences, end
<br />�;-;
<br />t';
<br />
|