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<br /> --� ����a so8o4z
<br /> `' �'���• In the odyinal principal amount of s 400,000.00 , and any and ali modltications,extensiona and ronewals
<br />`��"� ' thereof or thereto and any end ell future advances and readvancea to Borrower(or any of them It more than one)hereunder P�rauant
<br /> � to one nr more prAmissory notes or credit agreement�(herein called"Nate");(b) the payment of other sums advanced by Lender to —
<br /> protect the security of the Nota;(a)the pertormance of ell covenante and apreements of Trustor eet forth herein;and(d)all present and ___
<br /> ��� tuture Indebtednesa end obllpationa ot Borrower(or any of them If more than one)to Lender whether direct,Indirect,
<br /> ebeolute or contin-
<br /> gent and whether arieing by note,punranty,overdraft or otherwlae.The Note,this Qeed of Truet snd any and all other documente that
<br /> secure the Note or otherwise executed In connectlon therewith, Inctudinfl without��Aiso��securetseno�urdat�d 09/26�97
<br /> .�.� esslgnments o1 leasea and rents,shall be referred to herein 8ntl�ieduean��s��r�e'in the amount of 3250�000.00.
<br /> Trustar covenanta and eyreea wlth Lender as foliowa:
<br /> .� 1. PaymNtt of In�tedn�sr►.All Indebtedness r,acurod hareby shnll be paid when due. �
<br /> ° 2. TItN.Truator Is the owner of the Properry,has the�ipht and authority to convey the PropeRy,and warrants ihat the I{en creat-
<br />:°��� ed hereby ts a flrst and pdor Ilen on the PropeRy,except for Ilens and er�cumbrances set forth by Trustor In writing and dellverod to
<br /> _.:_,�� Lender betore execution of this Deed of Trust.and the execuUon and delivery of this Deed of Trust daes not violate any contrac4 or
<br /> other obilgatbn ta which 7rustor is subject.
<br /> '� 3.Tauss,Ass��sm��b.To pay before delinquency ail taxes,speciai assessments and all other cherges against the Property
<br /> " '' `` now or hereaiter levieif.
<br /> '"�`��•�' 4.Insuranc�.To keep the Properry insured against damage by tire,hezards Included withtn the term'extended coverege"�end --
<br /> �"'lp �"�' such hazards as Lender may requtre,in amounts and with compan(es acceptable to Lender,naming Lender as an addiNonal named
<br />..,.h�n?�. .
<br /> x�-��� Insured,with loss payable to the Lender. In case of loss under such policles,the Lender is authorized to adjust,ooliect a comRro-
<br />:_,4--�.
<br />•���r.....:
<br /> .,..,,;K. mise,ali claims thereunder and shal�have the option of appiy(ng all or part ot tho Insurance proceeds lQ to any Indeb secu
<br />-_;;.'+�.'� hereby and in such order as Lender may detertnfne,(fi)to the Trustor to be used for the repair or restoration of the Property or(Iif)for
<br />....lr.�4["r>
<br /> -�t�:. any other purpose or obJect satisfactory to Lender without afteaUng the Ilen of this Deed of Trust for the full amount secured here
<br />'-3''`�`�� betore such payment ever took ptace.Any epplicatlons ot proceeds to indebtedness shall not extend or postpone the due dete of any
<br />..,'.�`::. ..
<br /> ;;�� paymen4a urxier the Not¢,or cure any default thereunder or hereunder. _
<br /> _;.;,�� 5.Escrow. Upon written demand by Lender,Trustee shatl pay to Lender.In such manner as Lender may deslgnate,eufficiant
<br /> r%�� sums to enable Lender to pay as they become due one or more of the toilowing:(I)riti taxes,assessments and other charges egainst
<br /> t he p r o p e r t y,(I I)t h e p re m i u m a o n t h e p r o p e r t y inaurance r e qulrod horeunder,(iil)the premiums on any mortgaAe Insurence required by
<br />;;`-;}�'� Lender.
<br />.:;��.,,
<br /> A� � 8.M�Int�nance� R�pala and Compll�nce with I.�w�.Trustor shall keep the Property in good candition end repair,shall
<br /> ='`'^'�+ prompdy repalr,or reptaca any improvement whlch may be damaped or destroyed;shall not commit or pertntt any waste or deterbra-
<br /> :�r'�'�a.`••.;, ,
<br />,�..:,�� tlon of the Properry;shsll not remove,demolish or substantially aiter any ot the improvements on the Property;shall not commit,su er
<br /> �> or permit eny act to be dorte In or upon the Property in violatlon of any law,ordinanae,or regulation;and shall pay and prompUyr dis-
<br />''''�"��� charge at Truators cost and expense all Ilens,sn:umbrances and charges levied,imposed ar accessed against tha Properly or any
<br /> --��;�,� part thereof.
<br />:;�. 7. EmirNnt Dom��n. Lender is hereby assigned ail compensatlon,awarda,damages and other payments or retief(heretnatter
<br /> _ •pr�.eeds�In connecUon wfth condemnation or othar tekinp of the Properly or part thereof,or for conveyance in Iieu of condemnaUon.
<br />=��� . Lender shell be enUded at Its opUon to commenca,eppear In flnd prosecute in ite own name any nciiu��ut proc.ssdlss�,asx3°.�s!!�a
<br /> - be enUtled to make any compromise or setGement In connectlon wlth such taking or damage.In the event any portlon of the Properly ts
<br /> °--- so taken or damaged. Lender shalt have the opdcn ln Ita eo�e and absolute discretion,to appty all such proceeds, after deducting
<br /> � therefrom ell costs and expenses Incurred by it In conneatlon with such Proceeds,upon any Indebtedness secured hereby end In such
<br /> ���� order as Lender may determfne,or to&pply alt such Prxeeds,after such deductions,to the restoraUon of the Property upon euch con-
<br /> d(tions as Lencler may determ�ne•Any appllcaUon of Proceeda to Indebtednass shall not extend or postpone the due dato of any pay-
<br /> mente under the Note.or cure any default thereunder or hereunder.Any unapplfed funds shall be patd to TNStor.
<br /> g, p�riorm�ncs by L.�nd�r.Upon the occurrence of an Event of Detault hereunder.or If any act ls taken or le�al proceedinp
<br /> commenced which matedally attecta Lender's tnterest In the Properly,Lender may In tta own dlscretbn,but without obltpaatlon to do so,
<br /> end wlthout notice to or demand upon Tnrstor and wlttwut releasing Trustor from any obllgatlon,do any act whkh Truator has eyreed
<br /> — but falled to do and may also do any other act lt deems necessary to protect the eecurlry hereot. Trustor shall, Immediately upon
<br /> demand theretor by Lender,pay to Lender all costs and expenses Incurred and sums expended by Lender In connecttor►witli the exer
<br /> . �e nd btedness securedr8heraby9Lender�ahall o�ncuterest Ifablllty�becauaeof enythingpt may doi or�ominttoedo h reunder���to
<br /> —.� 9, Har��dpu� Wt�rlals.Trustor shall keep the PropeRy tn compllance wlth alI applk;able laws,ordlnances and repulatione
<br /> relating to Industrtal hyglene or envtronmental protection(collect(vely referred to hereln as'Envlronmental Laws').Trustor shall keep
<br /> the Property lree irom ell substances deemed to be hazardous or toxla under any Ernironmental Laws(oollecUvely reterred to hereln
<br /> as�Flazardaus Matedab").Truator hereby warra�ts and represents to Lender that there are no Hezardoua Matedals on or under the
<br /> property.Truetor hereby aprees to tndemnHy and hold harmlesa Lender,Ita dlreetors.ofHcere,employeee nnd e�enta.and an1►euoees-
<br /> sora to Lenders(niere�t,irom and apainst any and all clalme,damapes,losses end IlebfllUea a�islnp In connecUon wNh the prosence�
<br /> use,dlsposel ur transport of any Hazardoua Materials on,under,frnm or about the Property.THE FOREDOINO WARRANTtES AND
<br /> REPRESENTATIONS,AND TRUSTOR'3 OBLIGATIONS PURSUANT TO THE FORfi001Na INDEMNITY, SHALL SURVIVE
<br /> - RECONVEYANCE OF THIS DEED OF TRUST.
<br /> 10.Asslgnn�Ms of R�nts.Trustor hereby asstgna to Lender,and grants Lender a securtty Interest In,all preaent,tuture and
<br /> after adsing rents,Iasues end proflts ot the PropeRy;provlded that Trustor shall.unUl the occurrence of en Event of Detault,hereurber,
<br /> have the rlpht to cdlect and retaln such rents,Issues end proftts as they become due and payable.Upon tlie oocurrence of an Event of
<br /> ' Defauft,Lender mey, efther In person or by agent,wlth or wlthoui brinping any ecNon or proceeding,or by a recelver appolnted by a
<br /> - — couR and wlthout repard to the adequacy of ite securNy,enter up�n and teke possesslon of the PropeRy,or any paR thereof,in Its own
<br /> =°� a name or In the name of the Trustee,and do any acts whl�h It deems nocessary or deslrable to preserve the vafue, marketebfllty or
<br /> -=-�� rontebility ot the Properry,or any part thereof or interest thereln,or to Increase the Income thereirom or protect the security hereof and,
<br /> ""~i='�"""� wlth or wtthout taking possession ot the Property,aue for or otherwlse collect the rents,fssues and profits thereof,Including those past
<br /> '`�"�� due and unpald,by notllyring tenants to make paymente to Lender.Lender may apply reMs,Issues and prof(ts,less costs and expens-
<br /> ;.�^;:�`� i es of operaUon and collecUon 1ncluding attomoy's fees,to any Indebtedness secured hereb9�a��In suah order es Lender may deter-
<br />- -��'�- mine.The entedng upon and taking posaesslon of the PropeRy,the collectlon of such rents, issues and proNta,and the appllc�atbn
<br /> �''� thereof as aforesald shall not curo or walve any default or notice of default hereunder or invaltdate any ect done ln response to such
<br /> :}��:- or the collectbn,
<br />":`�•`'� detault or pursuant to such notice ot default and,notwlthatendlnp the conUnuance In possessbn oi the properly
<br /> -;. '�� recelpt and applicetlon of rents,Issues or proflts,Trustee and Lender shall be entttied to exercise every rlght provlded for fn any of the
<br />��'�� �nan�n�n,menta or bv law uaon occurrence ot any Event of Default,Inctudln�wlthout Ilmit�tbn the right to exerctse the power of sale.
<br /> � �_�J�J�ly�uJ
<br />-'-`� Further,Ler�der's dghts and remedles under thls F+aragreph shall be cumulattve w�,and in rro way a iiriiiwuui�'v�a�����••a�••>��
<br /> ��� remedtes under any assignment ot leases and rents recorded agalnst tho Property.Lender,Trustee and the recelver shall be Ilable to
<br /> -=• ���} � axount onty for those rents actually recefved.
<br /> -''�:Sa:s�;='+-5: 11.Events ot O�tau1G The following shall constitute en Event of Qetault under thls Deed ot Tn�s�
<br /> - '"""'"' (a) Fallure to pay any Installment ot princlpal or(nterest o}any other sum secured hereby when due;
<br /> ',' ���L��� (b)A breach of or detault under any provlsbn contalned In the Note.thls Deed of Tnist,any oi the Loan Instroments,or any
<br /> ,._:t]x..� •,.�..
<br />"'^ ' ,n other Iten or encumbrence upon the Property;
<br />-�'; (c)A wdt of executfon or atYachment or any slmltar prxess shall be entered eyalnst Trustor wh�h shall becon►e a Ifen on
<br /> .' � ,-����� the Properiy or any portlon thereof or Interest theroln;
<br /> � - .: � (d)There shall be flled by or agalnat Trustor or Borrower an actlon under any present or tuture tederat,state or other atatute,
<br /> � .r r,� � ' Iaw or regulation retaUng to bankruptcy,insolvency or other rellef for debtors;or there ahall be appolnted any trustee,recelver or
<br /> •• • Ifquldator of Trustor or Borrower or oi all or any part of tho Property,or the renta,issues or profits thereoi,or Truator or Bortower
<br /> •�"'���"`�� shall make any general asslgnment for the beneflt of credltore;
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