|
. , i.,,." —^.v�.,�t#�.. �a� ;:.�;+;!
<br /> ,� �-f_` .
<br /> . ... , {.. .. . -- -
<br /> . . • , - ;�,.,�r.,�,i,,.:,xraa,:St'.. ; . �v�.��ng =__�
<br /> i� � ey�+.r .�...iy�� t,i�.R-., _ - "
<br /> , :,i'. ".�.���A } ,..7:R�'4SI:J�'ILd�.�tAi�=..�•d _ .
<br /> -- _...--._. ...--- . .. ._ _.---.—..,..�.�..,.�...,. r . . .
<br /> -� � 98-- is��'r ---
<br /> In th� orlpkwl prindpal amount of s 490.000.00 , and any end ah modllicatione, extensiona end renewals
<br />"� dwnof or tlwrNo�nd�ny�nd�A future advance�u�d readvences to Borrower(ar any of them if more than one)hereuncier purouent
<br />�.� tu ons or mpn promlt�ory nnts�or crsdN aqroerr�anri(here(n called"Note'�;(b)the payment of other suma edvenced by Lender W
<br /> protect the security of ths Nots;(o)the perfortndnce of ell cavenanta end cgreen►ente of Trustor set foRh herein;end(d)all preaent and
<br /> tutun ind�bt�dn�u and oblipotfon�d dorrow�r(a any of thsm If more thAn one)b Lender wlieti►er direct,Indirect,ebaolute or condn-
<br /> pont Rnd whNf�r�rlalnp by nots,pwrenty,ovsnlraR a otheiwlae.The Note,thia Deed of 1'rust and a�y and all other documenta thet
<br /> °:, secure the Nots or otherwlae exsCUted In connection therewith, Includiny without Ilmltatlon guarantees, security agreements and
<br /> �� �T��oove�i�en•and�rbes�th Lender ei ollowa^sa the"Loan Instromenls'. c-
<br /> `:�� 1. P�ym�ft of Ind�bMtM�a.All Indsbtsdnesa�ured hereby shall be paW when due.
<br /> •""'1 2. Titw.Truator le tFN owner ol the Propsrty,hae d�e riyht and authodly to convey the Property, and werranta that the Ilen creat-
<br /> � ed hareby la e Nrot and prbr Nen on Ihe Property,axcept tor Ilens and encumbrances set forth by Trustor In wr(ting and delivered to
<br /> �� Lsnder bafare exsculbn of thls Dsed ot Truet, and the execuUon and delfvery of this Deed of Trust does not vlolate any contract or
<br /> other obNpatbn to which TNStor Ie eubJect.
<br /> 3.T�xN,AsNSSm�nta.To pay belore delinquancy sll texea,special assessments and all other charges against the Property
<br /> now or herenfter levled.
<br /> 4.Insunnc�.To keep the Pruperty inaured apalnst damape by 8re,hazards Included within Ihe term"extended coverape",and
<br /> ,'�� sud�huarcb as La�der may require,In amounta snd with companlos sa�pteble to Lender�namkp Lender as an edditfo�al nemed
<br /> :;f� irPwred,wRh losa payeble to the Lencbr.In caae af bss under euch pol�ies,the Lender Is authodzed to adJust,cdlect and axnpro�
<br /> ';�9 miae,all clalms thereuncier end shell have ths opdon of applyinp all or part o f t t ie insurance(x o c e e d s (q t o a n y I n d e b t e d n e s s s e c u r e d
<br /> ,,� hereby and In such order as Lender may determine, (II)to the Trustor ta be used for the repair or restoradon of the property ur(!II)tor
<br /> .� any other purposb or obJect sadafactory to Lender widwut aftecdn�the Ilen of thls Deed o1Tn.ist tor the(uil emount s�cured hereby
<br /> = belore such payment ever took place,Any eppl�aUons of proceeds to Indebtednesa shall not extend or postpone the due date of eny
<br /> ;;� paymente under the Note,or cure any defauft thereunder or hereunder.
<br /> - b.Escrow.Upon r�rittan demend by Lender,Trustee shall pay to Lender, In such manner as Lender may designate,suNicient
<br /> -'"— sums to enable Lender to pay as they become due one or more ot the followinp:(I)all taxes,assessrnents end other charoes eQainst
<br /> a� the Property,(II)the premlums on the property Insurance requlred hereunder,(III)the premiuma on any mortgage insurance requlred hy
<br /> Lender.
<br /> :�� 6. M�Int�nmc�, R�palra md Compll��c� with L�wi.Trustor shall keep the Properly fn goud condltlon and repair; shall
<br /> � promptly repalr,or replace any Improvemant whkh msy be damaped or destroyed;shall not commit or permit any wnste or deterbre-
<br /> tion of ihe Property;shell not remove,demolish or substantlaliy alter any o1 the Improvemente on the Property;shall not oommk,suHer
<br /> �� or permk any ec1 to be done In or upon the Property In vlolation ot any law,ordinance,or regulation; and shell pay and promptty dis-
<br /> r� cherge at Teustors cost and expense ell Ilens, encumbrancea snd charqes levied, impose3d or accessed eya�nst the Properlyr or eny
<br /> ,-� pert 1F►ereof.
<br /> � 7.Emin�nt Doma�in.Lender Is hereby asslyryed all compensatlon,awarda,damages and other payments or relief(hereineRer
<br /> _ •�;ar:aa,.:^j;n cc^rt�!!a^::9!h condemnal!c.^.�r e!her+.el�!r!�n}thH Pronerty or part thereol,or tor conveyance In Iieu of condemnadon.
<br />—�°_'- Lender shall be entiUed at its optlon to commence,appear In and prosecute In Its own name any action or proceedinps,snci snell aiso
<br /> :� be entitled to make any compromise or sedlemenl in connectlon wfth such taking or dama�e.In the event any portion of the Property Is
<br /> � so teken or dameped Lender shall have the option In its sole and absolute discretion, to eppty all such proceeds, after deducting
<br /> --- theretrom all costs an�i expenses Incurred by it in aonnectbn wfth such Proceeds,upon any Indebtedneas secured hereby and in such
<br /> � order as Lender may determine,or to apply all such Proceeds,after such deductions,to the restoratlon of the Property upon such con-
<br /> — diUons es Ler►der may determine.Any eppl�ation of Proceeda to Indebtedness shall not extend ar postpone the due date of any pay
<br /> -s ments under the Note,or cure any defauR thereunder or hereunder.Any unappNed funds shell be pald to Trustor.
<br /> = 8.P�rfoirm��w by L�nd�r.Upon the occuRence of an Event of Default hereunder,or {f eny ect is takan or{egal proceecNnp
<br /> n� commenced which matedalty aflects Lerxler's interest In the PropeRy,Lender may In Its ovm discreclon,but without obllpadon to do eo,
<br /> y and without notice to or demand upon Truator and wNhout releasing Trustar from any oblfpedon,do anY ect wMch Truslor f►a aG►Nd
<br /> -- Iwt falbd to do and may also do any other act It deems necessary to protect lhe securiry hereof. Truator shall,ImmscMatsly upon
<br /> dsmand tF►erefa by Lsndsr,pay to Lendsr aU costs anci expenses incurred end suma expeixled by Ler�der in connectbn wkh 1he sxer-
<br /> ,� c�e by Lender of the forepniny riyhts, topether with intereat thereon at the dsfault rate provkled fn the Note�wf�ich stwU be s�Jd�d to
<br /> _� q�e tndebtednesa secured hereby.Lender shell not i�cur eny liebility because of anylhlnfl it may do or�xnit to do hsrouncbr.
<br /> 9. Ml�racdotu Mat�ri�l�. Trustor shall keap the Property In compliance with all epplicable laws, ordinences and reg��letbns
<br /> - re{alinp ta industriel hyglene or envlronmental protection(collectively referred to herein as'Environmental Laws"1�s egrredst0 hereNi
<br /> -= tAe Proparry tree trom all subatances deemed to be hazardous or toxic uncier eny Environmentel Laws(collectively
<br /> - as"Hazandous Materials'}.Trustor hereby war�an:s end represents to Lender that there are no Hazardous Materiala on or under the
<br /> �� Properry.Truotor heroby�greea to fndomnlly end hoid harmiess Lentier�fts diroctoro�offloen�employeea sixl eqents.and sny suoces•
<br /> oors to Lenders interest,irom and agai�st a�y arxJ ell daima,damages,bsses and Iiabiiides addnfl In oonnection with the Presence�
<br /> = use,disposN or lransport of any Hazardous Materials on,under,irom or ebout the Property. THE FOREGOING WARRANTIEB AND
<br /> � REPRESENTATIONS, AND TRUSTOR'S OBLIC3ATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALi. SURVIVE
<br /> : RECONVFYANCE OF THIS DEED OF 7RUST.
<br /> �� tp,Ass{pnawnb of R�nts.Trustor hereby assigns to lender,end flrants Lender a securiy Interest in,all present,tuture and
<br /> � after arisir►p renta,issues and profits of the Property;provided tt►at Trustor shall,unHl the ooaurence of an Event of DefaWt,hereundor,
<br /> -+ have the ripht to�Ilect and retain such rents, iawes and profiis as they become due end PaYgbte•UP�'�t�OO�n�ot an Event d
<br /> DefauR,Ler�ier may,either in person or by agent.with or without bringing eny action or proceeding,or by a receiver a�okited by a
<br /> court and without regard to the adequacy of its securily,enter upon and take possessbn of the Properly,or nny part thereof,in its own
<br /> name or in the name of the Trustoe, and Uo any ar.ts which ft deems necessary or desireble to preservo the value, marketability or
<br /> — rentability of tFee Property,or any part thereot or fnterest therein,or to increase the incane therefrom or protect lhe security hereof end.
<br /> — with or witha�t t�ki�possessbn of thn Properry,sue for or othervvlse collect the+ rents,issueb and profits thereof,Inckrding thoee past
<br />;_��.
<br /> due and ur�pnid,by notiying tenants to make peyrr�ents to Lender.Lerxler may apply rents,issues and profits,less costs and expens-
<br />— es ot operetic�and collecNon including attomey's tees,W any indebtedness secured hereby.au In such order as Lender rt►ay ter-
<br />-: mine.The en�rkg upvn and taking possesslon of the Praperty,the collection ot such rents,Issues and profits,and the a��plicaUon
<br /> .� thereo}as afotesaidshaM rwl cure or wefve any defaut!or not�e of defauft hereuncier or fnvalidate any act done in respor�.se to such
<br /> detault or pursuant to such notice of detault end,notwithstanding the continuance in possessbn of the property or tfie collectlon,
<br /> receipt and application of rents,issues or profits,Trustee and Lerxler shall be entitled to exerclse every right provided tor(n any of the
<br /> �� � _ ��.,i�et.,�manre nr hv law uoon occurrence of env Event of Delault,including without limitatfon the right to exorcise the power of sale.
<br /> _C... ���....�__._._ ._ . _• ' - •_�_���.��
<br /> �J
<br /> .'� Further,Lerxlors rights end remedies under!his paragraph shall be cumulative with,end In no way a umrcerion on,�enad���n���a.�ti
<br /> , remedies uncier any asslgnment o1 le2ses end rents recorded apainst the Property.Lender,Trustee and the receiver shall be liab{e to
<br /> : i account only for those rents actually received.
<br /> 11.Ewnls ot DNault.The following shall constitute an Event of Default under this Deed ol Trust:
<br /> (a)Fai:uro to pay any installment of principal or interest of any other sum secured hereGy when due;
<br /> (b)A breach of or default under eny provlston contatned in the Note,thls Deed of Trust,any�f the Loan Instruments,or any
<br /> otMir lien or encumbrance upo�the Property;
<br /> (c)A writ ot execution or attachmenf or any simitar process shall be entered against Trustor which shall 6ecome a lien on
<br /> the F'roperty or any portion thereo}or interesttherein;
<br /> (U)There st�all be filed by or against Trustor or B�rrower an action urder any present or future tederal,stato or other statute,
<br /> , law�r regulation re�ating to bankruptcy,Insolvertcy or other relie}tor debtors;or there shaN be appointed any trust�se,recefver or
<br /> , - liquidator of Trustor or Borrowor or o}all or any part of the Property,or the ronts, Issues or profits thereaf,or Trustor or Borrower
<br /> � shall make any goneral assfgnment fo�the benofit ot creditors;
<br /> _�4 .._z....,.. ... -.,,.�,.� -•.,.-,-;.._.—-----• _ _ _ _
<br /> ._ ..,._. ,.....��.�.....- .,..��..o,:��. ..,.. _ . --� --
<br />
|