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<br /> ($250,000.00},an@ any and all modifications,extensions and renewals thereof or thereto and any •.:��-�.
<br /> and all future advances and readvances to Horrower(or any of them if mare than one)hereunder _'���•
<br /> i pursuant to one or more promissory notes or credit agreements(herein called"Note"); (b)the - � -°T�-
<br /> � payment of other sums advanced by Lender to protect the security of the Note; (c) tlie perform- :;�`-
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<br /> �tnce of all covenants and agreements of Trustor set forth herein;and(d}all present and future =-�;�--
<br /> indebtedness and obligations of I3orrowcr(or any of thern if more th�n one)to Lender whethcr i : :�=
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<br /> direct,indirect,absolute or contingent and whether arising by note,guaranry,overdraft or r�,._
<br /> �- ••�' � otherwise. The Note,this Deed of Trust and any and all other documents that secure the Note or 6�� . ;,;:;�;�,o
<br /> ' '' ' otherwise executed in connection therewith,including without limitation guarantees,security �il , ;,.;;:.'=�"—
<br /> ' agreements and assignments of leases and rents,shall be referred to herein a�s the"Loan Instru- � ".T=_-
<br /> ; ments". ""�
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<br /> TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS: � ,�----
<br /> „'� 1. Pay e t of Indebtedness. All indebtedness secured hereby shall be paid when due. � __
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<br /> � 2. Titl�. Trustor is the owner of the Property,has the right and authority to convey the � ��
<br /> ' Property and warrants that the lien created hereby is a first and prior lien on the Property and the _.�:�
<br /> executian and delivery of the Deed of Tmst does not violate any contcact or other abligation to _-
<br /> which Trustor is subjeci. --
<br /> 3, �X .c_.a_sseccmenta. To pay,before delinquent,all taxes,special assessments and all ��-
<br /> �` other charges against the Property now or hereafter levied and to provide Lender with copies of !`'
<br /> .,: paid receipts innmediately after payment thereof. �=�-
<br /> � 4, Tnc�rance. To keep the Property insured against damage by fire hazards included with �--
<br /> ` t he term"ex ten de d c o v e r a g e" a n d s u c h o t h e r h a z a r d s a s L e n d er ma y re quire in amounts and with �3g�_.
<br /> � companies acceptable to Lender,naming Lender as an additional named insured with loss pay-
<br /> able to the Lender. Trustor shall further cause such insurer to provide Lender with a certificate , ,;;
<br /> of insuranee and a eopy oi alI then curreni pulicics iia f3rce in respect to the Progrrt�and such ���'___
<br /> � certificate of insurance shall specifically provide that the same cannot be terminatec�without � ;�
<br /> reasonable notice to Lender. In case of loss under such policies,the Lender is autho�ized to , ;ar
<br /> adjust,collect and compromise all claims thereunder and shall have the option of applyin�all or �:i-,•
<br /> ;�� part af the insurance proceeds(i)to sny indebtedness secured hereby and in such order as Lender �-
<br /> • may determine,(ii)to the Trustor to be used for the repair or restoration of the Property,or(iii) -�_
<br /> , for any other purpc�se or object satisfactory to Lender without affecting the lien of this Deed of �,
<br /> �� Trust for the full amount secured hereby before such payment ever took place. Any application
<br /> +�' of proceeds tu indebtedness shall not extend or postpone the due date of any payments under the
<br /> Note,or cure any default thereunder or hereunder. "
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<br /> 5. *.�^inten�up Renairc��d Comnli iice with Laws. Trustor shall keep the Property in �:
<br /> good condition and repair;shall promptly repair,or replace, any improvement which may be -_
<br /> dama�ed or destroyed;shall not comm�t or permit any waste or detenaration of the Property;
<br /> shall not remove,demolish or substantially alter any of the irnprovements on the Property;shall
<br /> rmit an act to be done in or upon the Property in violation of any law, �'�_-��_
<br /> not commit,suffer or pe y
<br />� ordinance or regulation;and shall pramptly discharge at Trustor's cost and expense all liens, '.;.��
<br /> � encumbrances and charges levied, i�nposed or assessed against the Property or any part thereof. - �
<br />_ � � . �,� •_----
<br /> 6. Fminent Dornain. Lender is hereby assigned all compensation,awards,damages and ` :�`
<br /> � other payments or relief(hereinafter"Proceeds")in connection with condemnation or other ,�A.-;-
<br />- � taking of the Property or part thereof, or for conveyance in lieu of condemnation. Lender shall ����,
<br />� be entitled at its option to commence,appear in and prosecute in its own name any action or
<br /> - proceedings,and shall also be entitled to make any compromise or settlement in connection with =��.;;: � .
<br /> such takin�or datnage. In the event any portion of the Property is so taken or damaged,Lender ' ' ��'�-�:
<br />- shall have the option,it its sole and absolute discretion, to apply all such Proceeds,after deduct- : �;�:�:- .
<br />- ing therefrom all costs and expenses incurred by it in co�ection with such Proc�eds,upon any :��::�{:,
<br /> _ � indebtedness secured hereb�and in such order as Lender may detennine,or to apply all such �`Y•-.°
<br /> - Proceeds,after such deductions,to the restoration of the Property upon such cond�tions as Lender . ,
<br /> may determine. Any application of Proceeds to indebtedness shall not extend or postpone the
<br /> due date of any payments under the Note,or cure any default thereunder or hereunder. Any
<br /> " unapplied funds shall be paid to'Trustor.
<br /> . 7. Pgrformance bv Lender, Upon the occurrence of an Event of Default hereunder,or if
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<br />- . any aet is tateen or�egai proceeau�g c.,��►�„o��..�u, waue�. ,+�w......,...� »..__.....__.__._ __.-____. .. � .-— .---._.--
<br /> . � Property,Lender may in its own discretion,but without obligation to do so, and without notice to
<br /> or demand upon Trustor and without releasing Trustor from any obligation, do any act which
<br /> Trustor has agreed but fails to do and may also do any other act it deems necessary to protect the �
<br /> - security hereo£ Trustor shall,immediately upon demand therefor by Lender,pay to Lender all �
<br /> costs and expcnses incuned and Sums expended by Lender in connection with the exercise by �
<br /> I,ender of the foregoing ri6hts,together with interest thereon at thc default rate provided in the �
<br /> Note,which shall be udded to the mdebtedness secured hereby. Lender shall not incur any r
<br /> li�hility becausc of anything it may do or omit to do hereunder. .
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