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20�203593
<br />DEED OF TRUST
<br />f Continued) Page z
<br />authorized user of the Property shatl use, generate, manufacture, store, treat, dispose of or release any Hazardous
<br />Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with
<br />all epplicable federal, state, artd local laws, regulations and ordinances, including without Iimitation al!
<br />Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property to meke such
<br />inspections and tests, at Trustor's expense, as Lender may deem approp�iate to determine complience of the
<br />Property with this section ot the Deed of 7rust. Any inspactions or tests made by Lender shall be for Lender's
<br />purposes only and shall not be construed to create any responsibility or liability on the part of Lender ta Truator or
<br />to any other person. The representations and warranties contained herein ere 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 Trustor becomes liable for cleanup or other costs under
<br />any such laws; and (2) agrees to indemnify, defend, and hold harmiess tender against any end all claims, losses,
<br />liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting irom
<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 tf�reatened 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 saNsfaction
<br />and reconveyance of the lien of this Deed of Trusi 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 shall not ceuse, conduct or permit any nuisance nor commit, permit, or suffer eny
<br />stripping of or weste on or to the Property or any portion of the Property. Without limiting the generality of the
<br />foregoing, Trustor wiil not remove, or grant to any other party the right to remove, any timber, minerals Iincluding
<br />oiI and gas►, coal, clay, scoria, soil, gravel or rock products without Lender's prior written consent.
<br />Removal of Improvemer�. 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 any Improvements, Lender mey require Truator to
<br />make arrangements setisfactory to Lender to replace such Improvements with lmprovements of at least equal
<br />value.
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property et ell
<br />reasonable times to ettend 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 Govemmerrtal Requiremer�. Trustor shall promptly comply with all laws, ordinances, and
<br />regulations, now or hereafter in effect, of all governmental authorities applicable to the use or occupancy of the
<br />Property, including without limitation, the Americans With Disabilitiea Act. Trustor may contest in good feith sny
<br />such law, ordinance, or regulation and withhold compliance during any proceeding, including eppropriete appeals,
<br />so long as Trustor has notified Lender in writing prior to doing so and so long es, in Lender's sole opinion, Lender's
<br />interests in the Property are not jeopardized. Lender may require Trustor to post edequate security or a aurety
<br />bond, reasonably satisfactory to Lender, to protect Lender's interest.
<br />Duty to Protect. Trustor agrees neither to abandon or leave unattended the Property. Trustor shall do ell other
<br />acts, in addition to those acts set forth above in this section, which trom the character end use of the Property ere
<br />reasonabty necessary to protect and preserve the Property.
<br />TAXES AND LtEiVS. The followirtg 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, specfal taxes, assessments,
<br />charges (including water and sewer), fines and impositions levied against or on account of the Property, and shall
<br />pay when due aU clalms for work done on or for services rendered or materisl furnished to the Property. Trustor
<br />shall maintain the Propeny free of atl Ifens having priority over or equal to the interest of Lender under this Deed of
<br />Trust, except for the lien of taxes and essessments not due and except es othervvise provided in this Deed of
<br />Trust.
<br />R7ght to Contest. Trustor may withhold payment of any tax, assessment, or claim in connection with a good faith
<br />dispute over the obligedon to pay, so long as Lender's interest in the Property is not jeoperdized. If e lien erises or
<br />is filed as a result of nonpayment, Trustor shall within fifteen (15) days after the tien arises or, if a lien is filed,
<br />withln flfteen (15) days after Trustor has notice of the flling, secure the diacharge of the lien, or if requested by
<br />Lender, deposit with Lender cash or a sufficient corporete surety bond or other security satisfactory to Lender in an
<br />amount sufficient to discharge the lien plus any costs end attorneys' fees, or other cherges that could accrua as a
<br />result of a foreclosure or sale under the lien. In any contest, Trustor shall defend itself end Lender and shall satisfy
<br />any adverse judgment before enforcement against the Property. Trustor shall name Lender es an additionel obligee
<br />under any surety bond furnished in the contest proceedings.
<br />Evtdence of Payme�t. Trustor shalt upon demand furnish to Lender satistactory evidence of payment of the texes
<br />or assessments and shall euthorize the eppropriate governmental official to deliver to Lender at eny time e written
<br />statement of the taxes and assessments against the Property.
<br />Notice of Construction. Trustor shall notify Lender at least fifteen (15) deys before any work is commenced, eny
<br />services are furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's (ien, 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 advence assurances satisfactory to Lender that Trustor can and will pay the cost of such
<br />improvements.
<br />PRQPERTY DAMAGE INSURANCE. The following provlsions relating to insuring the Property are e part of this Deed of
<br />Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended
<br />coveraga endorsements on a reptacement basis for the full insurable value coverirtg ell Improvements on the Real
<br />Property in an amount sufficient to avoid application of any coinsurance clause, and with a stendard mortgagee
<br />clause in favor of Lender. 7rustor shell elso procure and maintain comprehensive general liability insurance in such
<br />coverage amounts as Lender may request with Trustee and Lender being named a� addliional insureds in such
<br />liability insurance policies. Additionally, Trustor shall meintein such other insurance, including but not limited to
<br />hazard, business interruption, and boiler insurance, es Lender may reasonably require. Policies sf�all be written in
<br />form, amounts, coverages and basis reasonably acceptable to Lendar and issued by a company or companies
<br />reasonably acceptable to lender. Trustor, upon request of Lender, will deliver to Lender from time to tfine the
<br />policies or certificates of insurance in form satisfactory to Lender, incfuding stipulattons that coverages will not be
<br />cancelled or diminished without at least thirty (30) days prfor written notice to Lender. Each insurance policy elso
<br />shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act,
<br />omission or default of Trustor or eny other person. Should the Rea( Property be tocated in an area designeted by
<br />the Director of the Federal Emergency Management Agency as a special flood hazard area, Trustor agrees to obtain
<br />and maintain Federal Flood Insurence, if evaileble, within 45 days after notice is given by Lender that the Property
<br />is located in a special flood hazard erea, for the fut( unpaid principai balance of the loan and any prior liens ort the
<br />property securing Yhe loan, up to the maximum policy limits set under the Netional Flood Insurance Program, or as
<br />otherwise raquired by Lender, end to maintain such insurance for the term of the loan.
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