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201308878
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Last modified
8/19/2014 2:24:32 PM
Creation date
11/6/2013 3:57:49 PM
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DEEDS
Inst Number
201308878
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#Pine Street - Deed of Trust <br />201308873 <br />court costs), claims and demands of any nature whatsoever arising from (a) any injury to, or the <br />death of, any person or any damage to property on the Property or elsewhere or in any manner <br />growing out of or connected with the use, non -use, condition, maintenance or occupancy of the <br />Property or any part hereof or of adjoining property, streets, sidewalks or passageways, (b) any <br />contracts, agreements, restrictions, statutes, laws, ordinances or regulations affecting the Trust <br />Property or any part thereof or the ownership, occupancy or use thereof, or (c) any act or <br />omission on the part of Trustor or any of its agents, employees, contractors, lessees, sublessees, <br />licensees or invitees. In case any action, suit or proceeding is brought against Trustor or <br />Beneficiary by reason of any occurrence herein described, Trustor will defend or cause to be <br />defended such action, suit or proceeding with counsel reasonably satisfactory to Beneficiary at <br />Trustor's expense. <br />Trustor shall give Beneficiary prompt written notice of any casualty resulting in damage <br />or destruction to the Property. Notwithstanding anything to the contrary contained herein, the <br />insurance proceeds payable as a result of any such casualty shall be applied in Beneficiary's sole <br />election to the outstanding indebtedness secured by this Deed of Trust, without premium, or to <br />cost of restoration of the Trust Property. <br />5. Preservation and Maintenance of Property. Trustor shall not destroy, damage or <br />substantially change the Property, allow the Property to deteriorate or commit waste. <br />6. Protection of Beneficiary's Rights in the Property. If Trustor fails to perform the <br />covenants and agreements contained in this Deed of Trust, or there is a legal proceeding that may <br />significantly affect Beneficiary's rights in the Property (such as a proceeding in bankruptcy, <br />probate, for condemnation or to enforce laws or regulations), then Beneficiary may do and pay <br />for whatever is necessary to protect the value of the Property and Beneficiary's rights in the <br />Property. Beneficiary's actions may include paying any sums secured by a lien which has <br />priority over this Deed of Trust, appearing in court, paying reasonable attorneys' fees and <br />entering on the Property to make repairs. Although Beneficiary may take action under this <br />paragraph 6, Beneficiary does not have to do so. <br />Any amounts disbursed by Beneficiary under this paragraph 6 shall become additional <br />debt of Trustor secured by this Deed of Trust. Unless Trustor and Beneficiary agree to other <br />terms of payment, these amounts shall bear interest from the date of disbursement at the Note <br />rate and shall be payable, with interest, upon notice from Beneficiary to Trustor requesting <br />payment. <br />7. Inspection. Beneficiary or its agent may make reasonable entries upon and <br />inspections of the Property. Beneficiary shall give Trustor notice at the time of or prior to an <br />inspection specifying reasonable cause for the inspection. <br />8. Condemnation. The proceeds of any award or claim for damages, direct or <br />consequential, in connection with any condemnation or other taking of any part any of the <br />Properties, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to <br />Beneficiary. <br />
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