|
• 201301591
<br /> DEED OF TRUST
<br /> •
<br /> Loan No: 101261/79 (Continued) Page 2
<br /> DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br /> •
<br /> TRUSTOR'S REPRESENTATIONS AND WARRANTIES,' Trustor warrants that: is} this Deed Of Trust is executed at
<br /> Borrower's request end not at the request of Lender; (hi Trustor has the full power, right, and 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 a violation of any
<br /> law, regulation, court decree or order applicable to Trustor; (di Truster has established adequate means of obtaining
<br /> from Borrower on a continuing basis information about Borrower's,financial condition; end (a) Lender has made no
<br /> representation to Trustor about 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'deflciency"
<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 a power of sale.
<br /> PAYMENT AND PERFORMANCE. Except as Otherwise provided In this Deed of Trust, Borrower shall pay to Lender all
<br /> indebtedness secured by this Dead of Trust as it becomes due, and Borrower end Trustor shall 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 end 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 and
<br /> control of the Property; (21 use, operate or manage the Property; end (31 collect the Rents from the Property.
<br /> Duty to Maintain. Trustor shall maintain the Property In tenantable condition and promptly perform all repairs,
<br /> replacements, and maintenance necessary to preserve its value,
<br /> Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (11 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 any Environmental Laws, (b) any use,
<br /> generation, manufacture, storage, treatment, disposal, release Or threatened release of any Hazardous Substance
<br /> on, under, about or from the Property 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; end (3) Except as previously
<br /> disclosed to and acknowledged by Lender In writing, Is) 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 compliance with
<br /> all applicable federal, state, and local laws, regulations and ordinances, including without limitation all
<br /> Environmental 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 appropriate to determine compliance of the
<br /> Property with Chia section of the Deed of Trust. Any Inspections or teats 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 to Trustor or
<br /> to any other person. The representations and warranties contained herein are based on Trustor's due diligence in
<br /> inveetigeting 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 Coats under
<br /> any such laws; and (2) agrees to indemnify, defend, end hold harmless Lender against any and all claims, losses,
<br /> liabilities, damages, 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 wee 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 shell 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 nuisance nor commit, permit, or suffer any
<br /> stripping of or waste 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 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 condition to the removal of any improvements, Lender may require Truator 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. Lander and Lender's agents and representatives may.enter upon the Reel.Property et 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 /> •
<br /> Compliance with Governmental Requirements. 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 /> •
<br /> •
<br /> •
<br />
|