|
.�,.,;
<br /> .•-+1� .. . � . •ya
<br /> . , , -..r, �.
<br /> . .' -- •• �;y ,�i�{'�7.i-.
<br /> . 4"a' . ....- . , - .r.. ..�wr- _.___._ .. ._.._ — _
<br /> � �:H�np.� •... ..- . . -.: . . _. .. . ��� � .....
<br /> ..� �. .� __:
<br /> . � . ... ....... .._. ., .. . . .. � �
<br /> t �/ �
<br /> t . _• �I���� __
<br /> egalnst luture monthty InatallmRntt o/Funds.11 thg emount ol fhs Funds held by BenNklary shell not bs au!!lcMnf ro pay tsxet as�ssament�, _—_
<br /> Inaurence promluma end pround mn►a es tNey/aN due, nuator ahell pay to flenelklary any amount nacoasary ta meke up tho dellcMn�y wlthln Mirt�
<br /> days Irom the date notico la msIlnd by Usnet�;�ary to Dusror requesdny paymonf tho�eof.llpon paymant!n full ol etl Indebtedness.'Ae«hNek��ahall
<br /> prompty�elund�o Tiusror eny funds held by Qanellclary.I!ths Dusf Property is aold under fhs pawer ol ssb a the Tluat Prop�rty
<br /> acqui�d ly 8enef(clary,Benellalary sAaN pppfy.Imms[Netsry p►1o►ro Ihe eab d tAS liust Property o►In acqulsitbn by Benefklsry,erty funda held
<br /> by BenNictary et the tlme M e�p�WbatlAn RS�craiit Apainsf the IndebMdneas•N Benefklery execufns n wNtten waiNer ol TYusta's obllQafMns undor
<br /> lhls paregraph�1, Dustw covenenM artd rtfp'�es to pay,before the same become delinquenf,ad tsava,assessment�,Insurance promlums,pround
<br /> � rente, and au other eherQas whataoewr eevbd upon or asaQased,placsd o►m�ds ayainar ths nust Prope+ry. nuaror tunner�yrae�,upon writron
<br /> �i requeat Dy Bena!lc7ary,ro prom/Ny dbin�+s�ro f3enNlclnry a!I roce/pts for fhs payment ol auch chargss. Tivaror Ilkewlse syreea ro p�y d��faxe�,
<br /> *•,�
<br /> asaos.^,monts und othor char�os lovlod upon o•sssnssed,placed o�made a�alnst,or measured by.thls Deed ol huxt nr the rYCOrdatlan hered.
<br /> .,.�. G Appllcalbn o1 Psymente.All payrtMnta+s�eNed by Benefklary es ro eny debt,1labllity or obllgatbn owred ro Bensfkiary by Tiustor mey De eppiled bY
<br /> • ` 8ene/kNry to fhe psyment o1 fho Indabneanoss a ro eny such othNr d�bt,Ilablliry or obNpAtbn,In erry o►de►or mannei d app��catAn whlCh ��'�
<br /> ��„� E. Benalklary,In Its absolute dlscro►bn, dsema sppropnate.Unfess othqrwise efeCted by Benalklery,any such payment shall bo d4emrld applled first
<br /> y to fhe p�ymant d ary debt,IleAllity oi obUQlUon Whe�than the NoM. -
<br /> �w-..,'-•�� :
<br /> Q Chaigea;L/ens. 7histo►will koep the huat Property Iroe from ell lrens end encumbrancos whlch In arty wey mey,In the�udgment d 9enefklary,have
<br /> prb►!ty arei or Impelr thg SeCUrity ol, thlft DeBd of D'ust but Tiusto►need not dlsCherge arry suCh lien so bng e9 llusto�shall eq►ed�n wdting,ro [::`
<br /> ,�. pey the Oh/lc�afiqn socumd by suCh litm in e manner eCCeptable to BenMklary and ahnll!n good leith contest such Uen by Ap►xepdate fegal _�"
<br /> proceedin�s eNectl�re ro preNent the enMrceewnr ol the Ilen and tne bss ol arry lnterest rn or part M the Trust Properry. '=
<br /> 7. Hazsrtl lnsurance.TYusror shall kaep th�buik/ings and other Improvemants now ezlsting or heroalt9r orecfed on the Tiust Property InSUrod by
<br /> Insurance caniers satlsfecrory ro BenMlclary ogalnst bss by fire,hazards Included m Mii te�m'gxtonrled co�e�epe"and such other hszarcJs,
<br /> casuartles and contingencios as may be requlroc'b�l8enefidary,1n such amounts enri for such periods as may be required Dy 6eneficlary. The —_
<br /> .� polky d Insurenco shal!be!n fam$ccepteble ro Flsnrtfl�lary,prw�de that tha same mey not be cancelled a modi/ied wlthat ltReen(1b)days P►ia _
<br /> � wdtten notke ro 9enefrolary,end ahall hare losa payrabla provis(ons!n faNa d and!n lorm accephble ro Benelkiery.Alf premlums on lnauronce
<br /> poUclea ahall ba pald!n the mdnner provldod under paragroph�hsred o►,!/nat paKl In auch manne6 by hustor making paymanf et leest fifteen(1b)
<br /> deys pbr to the dua date,dlrecty to the insurance canier.Bsna!lcla►y shalf he►ro the rl�ht to hold the polkles and ronewa/s th9rool and Tiuslor sha9
<br /> promply fumish ro Bene(iclery all renewa(�odces end aU paid premlum recelpts�ecel�ed by 1L!n no cvant ahatf @enelklAry a Ttustes be he�d �
<br /> � respons(ble for tallure ro pay insurence prom��rms or for sny bss or damaye arls(ny out ol a de/ect(n any polky or ar(sinQ out W eny failuro d ary _
<br /> lnsurance company ro pay lor any loss or amape lnsured agalnst or lo�fallure by Tiustor ro eMact the lnsuronce requlred hereunder. M the eyent d
<br /> • bss, Trusto►shal!glvo prompt nofJca by mail to►he lnsurence car►!er snd Beno!!clary.Benetklary may make proof d/oss il not made promptty or In
<br /> proper brm by Trusrot All pol1Gles of fnsurance end ary and all relunds o!uneamed premlums are hereby asslgned ro Benolklary as addidonsl
<br /> securlry foi the peyment o1 thg lndeptadnexf. In the even!ol 8enelklary'8 e�rerClse d the power ot sele contalned he►eln,or M the eNent of
<br /> ��_ laeclosure,all rlght.BtM end lntorosf d Tiusror In end to arry insuronce polky then in!o�shaU poea ro the purehaser et the nustee s aa►e or
<br /> foreclosure sale.!n case ol ary losa, the lnsurance procoeds may,et the optbn ol Benellclary,be applled by Benellclary upon the IndeWednesS or
<br /> ary pert thereof,and!n such o�er end amount as Benelklary may determ�ne;or sald Insurance proceeds,at the option o!Beneflclary,mey elther
<br />= be used In replaaing a reator/ng tba llust Prvperty partlally or totalty destroyed ro a condlUon setlsfacrory to Benefklary;or aald insurarrco
<br /> prpCeeds, or arty portlon thereol,may bo ie�eaaed to Trusro►UnfeaB BeneBcfary and 1Yustor othenvlse agree In writlng,eny such epplkaUon ol
<br />- lnsurance proceeds sASll not exrend or posfpone the due date d the Note,or any lnstellments called for thereln,or change the amount d such
<br /> lnstal/mertta.lf the 1iu9t Properry ls ecqulred by Benefklary pursuant ro the exerclse ol the pow�er ol sale or�otro�he�ie or�u'ls�lon shalf pass to
<br />_ inreresf o/Tiusta/n and ro any Insuiance proceeds Peyable as a result oi damaga to the Tiust Pro{ierty P
<br />- — Benefklary end sAal!be applle0 mst ro tne cosrs end axpansnx��+�/uulr yi attomo-�+is�C.;.l7�S%7L�rZ y���(na g�rh nnr.l�ds then rn the manner
<br /> end in rhe orcler provlded hereln.
<br />- 8. Preservetlon end Malntenance ot lYust Pmpe+rty!1►usror w/l!keep the bu!ldings end othe►Impro�rements now a hereaRer e�ecfod w�the 1Yust
<br /> Properry fn good rep.�(r and condltlon and w17I not commlt or permlt waste,w(►1 not elter the des/gn or structura!chsracter oonaHtuBng any bullding
<br />:, . . now a heroafter e+e�cted on Pnd constltudng[he Tiust Proeprty without the prlor wrltten consent ol Benelklery,wlU not dn any act or lhing whlch
<br /> xould unduy Impalr ot depreCiate tfie velue o/the Aust Property and wlll not abandon the Trust Property.7iusto►wlll nU semane any flxturea
<br /> '• .'�. const+futlnp the 7Fust Pmperty unless the aame aro Immediately replaced wlth 1lke prope►ty subjeCt t0 the Uen and aeCUdty Interost Of thta Deod W
<br />�'' ' llust anal d st leaat equal value and uNlit�1'rusfor wlll compty wlth all present and luture adlnances,�egulallons and requlrornents ol eny
<br /> r�^'`"• ° gw�mmQntal body whlch are appllcable ro the liust Properry and ro the occuparwy and use thereo/.lf thls Deed ol�ust ls ae e ualt!n s
<br /> �'� ••�� trondominlum or e planned un(t dewebpment, Tiustor shall pedorm ell of Trustor's obligatlons under the declarsBons or covenants crealing or
<br />�:•:�•���� � gprertdng the condominlum w 1he planned unit development,the by/aws and regulatlons ol the condominlum or planned unR det+ek>pment,end[I�e
<br /> =' constiluent documents.
<br />_�° 9 fn,spectlon.Beneflclary or Rs agenfs may,af all reasonable times,ente►upon the Tiust Prope►ty for the puqwse d inspecdon.Beneliclary shall heve
<br />- "' '"`'�''� no dury to make such lnspectlon a�d sha�l not be dable to Tiusto►a ro ary person!n possesslon ll it makes or faNS to make a►ry such inspectlon.
<br /> -::'.�.•a_.vw�
<br /> �-- -�^�+�• !U Proteclbn of Securityc H 1Fustor fa/ls to per►aan eny d the caenants and agreementa contalned In thla Deed ol Trust,or!/ery acdon a proceeding
<br /> �:�.^, + �•' !s commenced whlcA does or mty sdirersey afMct the Tiust Property or the Inten9st d Tivata or Beneliclury thenVn a the tltle of Tiustor thereto,
<br />_��,,��.:�� then Beneliolary,etlts opNon,may perfo►m such co�renants and agreements,make such sppesrances,delend agalnat and Imrestlgate such acttan
<br /> pr prpceeding end tetre SuCh othe►act/on as Benellclery deems necessery to protect ita lnterest lncludJng,but no!IlmHed f0.dlsbursement d
<br /> ;�°ti{�;t�,�:�9 re�soneb/e eKOmey/ees and entry upon 1he T�ust Property ro make repairs.Any emounts dlsbur�ed by Benefklary pursuant ro this perayraph f0.
<br /> �:�. � wnh Inrereat thereon,shal►conseture IndeDtedness W Tiusto►secured 6y thls Deed ot 7lust Unless 1lusror and Beneficary agree to other terms d
<br />_ ""%u��• payment, auch amounta ahall be payeble upon natice Irom Bene!lclary ro Tiusror reques8ng payment thereof.snd shaA beer Interest Irom the d�rte
<br /> ,�;".:' �� of dlrbursement et tha delault rote. N ary,aet tath in the Note,or othe►wlse at the hlghest raro permlfted by law.Nothing conra/ned!n thls paragraph
<br /> _�-�'�'4��'',-�• ahall requlre Benelklary to Incur arry expense or take ary actlort hereunder. TYusror/n�BVOCabty authodzes and empowers BBnelklary ro enter upem
<br /> " - -••��~~c�� dro 71uat Ruperiy es Trosror'8 agent and,ln TiusroYS name or othe►wfse to pe►form eny and elf carensnts and agreements ro be pertamed bY
<br />��,��A inralor as herein provlded.Benefklary shUl, et lfs optfort,be subrogated ro arry encumbrance,Ibn,clelm or demand and ro all rghts and secuHtles
<br /> �;r; ,;: �o►tM payme++t thereol pald or dlsCharged by Benefklary under tho prcvlsbns hertwl and arry such subrogatbn rlghts ahall be additlone!end
<br /> v�l�+.,..
<br /> _ �r•R!+t�,.�� cumuNtiv�e aeCUdty fa thls Deed o/Trust.
<br />_mibS�j;:�,;�.; 11, Oondrmnatlon. Rie proCeeds d any award or CIa1m lor damage�dlrect a tronaequenNal,!n ConnecNon wi►h any condemrtafbn a oHrer tek/ng d ttre
<br /> >o• . Trust P�s�oerry,o►eny pert ther6of,oi tor caNeynnce:n Ileu d a!n antklpetlon d condemnatlon.ana he►ebY asslgned to and Shal!be pald to
<br /> ;�. • 8endldary.Trustor wIN dle and pusecute,N 5 ood fadh and wlth due diligertce,!ts c!a!m fa eny such ewerd a AaYment and wlll Ceuse the same to be
<br /> r� • collieCfed end pald ro Beneficlery;8nd,shouid�,raii ro do so,rrusro►�nwncebN euthorizes and empow�ers Benelic�ary,!n the name d Tiustor a
<br /> otherwise,ro file prosecute,seftle or compromise arry such cfalm and ro collect mce�pt br end reteln the prtx.�eeds 1/the Tiust Properry!s abandoned
<br /> by Trusfor,a,aRer notke by Berrer+clary ro Rvsror Ihut tho condemnor oflers ro malie an award or seKle a c/afm fa damageS ilusror lalls ro respond ro _
<br />' Beneficlaiy wtthln thfrty(30)days af[er the date such notice!s moiled.Bonoliclery is authorized ro cofk+ct and appy the proceeds!n the manner -
<br /> ,�� indicafed hereln. The poceeds d eny swerd ur Cls/m may,after deducUng all reasonable costs and exponses.lncluding atromay/ees, wh�h may hew
<br />= bee„r,cunsd by seneric�ery rn rne co��t mereor.ar mo soa alscrenon a eene�icrary,ne re�eased ro rrusro�appMad ro.estaartal a Irusr aroperry.
<br /> _ tl►e d the Inu�eDte�lness UMess Beneficlery and Tiustar otherwlse egree In wrttlng,eny such eWplicallon o�Froceeds ro �
<br /> ° j a appYed to payment
<br />�, 1 IndlebiedVbis ahaM not exknd a pos�the due date d the Note or tho payment d ar y(nstaNm�x►ts caMed for tliereuntiec �
<br />_ �' 12. Contaminants. Ttusror warrenta ertd represents that there ere not now,nor,ro Me best of Tivsror s knowledge aRer reasortable Jrnestigetlon,hana E
<br />- j, tho�e e�wr been end,w(thout the Trusror aDtalNng Beneflclary's consenf and all requlsite permlts and approvals,thtfre wilf not!n the/uture be
<br /> - � Conteminante stored,handleti,o►disposed n!on tha Tiust Prt�perry whlch w�ould roqulre cleanup,removaf or othor ramedial actlon under arry �
<br /> .J�~
<br /> , envlronmentaf Iaws.Contaminants shafl mean meterls�s.substances and compounds prohiblted or regulated undn�sny enWronmentel laws.Tlustor �[
<br /> _ . . _ . . . ._. . . ....-.-'.,--°-- '--'.._. ...��.....�...w.r..,o....w.ormm�ntn!aulhnritv O!AthBf DBIh! �
<br /> ---.. . . .-.-.�...-. _ WIllIRllll@01at@Ij�00tlIytllBtlB/IBI�GIBry,m�rrt[my.vrarry,Iryvneauyauv..,��.y�..�...w...................�—•r e"--...._ ..- -- - � -
<br /> ' agafnst the Rustor regarding any envlronme»tel laws.(iq Contaminants on the Tiust Property wh(ch would require cleanup,�e►naal or othe►remedisf
<br /> actlon untler arty ortvironmontal i8ws.Upon[he Beneliclery's requost, hustor wdl periodicelly proWde ertv(ronmentaf assessments or compliance
<br /> - audit9;ond egreds to pormit onvrronm9ntel lnspeCtions and tosting o/the Trust Prope�ty by tho B@neliC(ery or!ts 8gents. at the Trustor's ouponst3.
<br /> ' It the iFUSt Property!s used lar rosldrntlel purposes,the prucedmg snall not appty ro the presenco,use,or srorege on tho hust Property ol smaN
<br /> quenGfies ot Contamfnanfs that ere gene�ally recogn(zed to bo appropr(ete to normal res�dentlal uses end ro mAintensnce ol the Tiust Prope�ty.
<br /> 13. Trusror Not Released.Extenslon o/the tlme Ior payment or madificatlon ot any amortiannon oi the Indebrodness grenfect by Benefic(ary to arry
<br /> - sucCassor ln Interest ol Trustor sh911 not Opeiete to refease,m srry manner,the linb�lrty of 7Yustor and Tiusto�'s suCCessors�n Intamst.Bene�iciary
<br /> _ shall not bo requlrod ro commence proceedings ega�nst such succossor or refuse ro extend hmo lor payment or othonvise mod�y amoKization of
<br /> the Indebtedness by reason ol arry demand made by Tiusror and Tiusror's successors iR mterest
<br /> � T4. Ffnanclal Informadon.Upon request o/Boneliciary. Tiusro►wdl provido ro 6enefrc(ary,wrthm mnery!90)dnys o►tho cfose d each fiscal year o�
<br /> DttslOr the Consolideted balence sheet end stetement of earn(ngs of 1lustor nnd arry and t�ll guarantors ol tho Indebtedness saurod herttby.d arry; t
<br /> artd wiU pralde end de��vor ro Beneliclurysuch other flnanc�al inlormation and m such mannor as Bonel�c�ary may rousonaby request from dme ro tlme.
<br /> �}
<br /> I _ - - — 1.
<br />
|