|
�012Q�762
<br />DEED OF TRUST
<br />Loan No: 101257039 IContinued)
<br />Page 2
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrents that: (a) this Deed of Trust is executed at
<br />Borrower's request and not at the request of Lender; (b) Trustor has the full power, right, end authority to enter into
<br />this Deed of Trust and to hypothecate the Property; (c) 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 and do not result in e violation of any
<br />law, regulation, court decree or order applicable to Trustor; (d) Trustor has established adequate means of obtaining
<br />from Borrower on a continuing basis information about Borrower's financial condition; end (e) Lender has made no
<br />representation to Trustor ebout Borrower (including without limitation the creditworthiness of Borrower).
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "enti-deficiency"
<br />law, or any ather law which may prevent Lender from bringing any action against Trustor, including e 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 es otherwise provided in this Deed of Trust, Borrower shall pey to Lender all
<br />Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shell perform all 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 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) remain in possession end
<br />control of the Property; (2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in good condition end promptly perform all repairs,
<br />replecements, and meintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender thet: (1) During the period of
<br />Trustor's ownership of the Property, there has been no use, generation, manufacture, storage, treatment, disposal,
<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 />acknowledged by Lender in writing, (a) any breach or violation of eny Environmental Laws, (b) any use,
<br />generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substence
<br />on, under, about or from the Properry by any prior owners or occupants of the Property, or Ic) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as 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, 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 complience with
<br />all applicable federal, state, and local laws, regulations and ordinances, including without limitetion all
<br />Environmentel 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 may deem eppropriate 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 and shall not be construed to create eny responsibility or liability on the pert of Lender to Trustor or
<br />to any other person. The representations and werrenties conteined herein are besed on Trustor's due diligence in
<br />investigating the Property for Hazardous Substances. Trustor hereby (1) releases and waives eny 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 />liabilities, dameges, penalties, and expenses which Lender may directly or indirectly sustain or 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 />including the obligation to indemnify and defend, shall survive the payment of the Indebtedness and the satisfaction
<br />and reconveyence of the lien 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 shell not cause, conduct or permit any nuisence nor commit, permit, or suffer any
<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 will not remove, or grant to any other party the right to remove, any tfmber, minerals (including
<br />oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior wrltten 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 any Improvements, Lender mey 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 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 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 Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and
<br />regulations, now or hereafter in effect, of all governmentel authorities appliceble to the use or occupancy of the
<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 hes notitied Lender in writing prior to doing so
<br />
|