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L•� , r <br /> t <br /> ,��` ' <br /> ,,,..,., - .. .,..�x�Ww ..t,, . <br /> ' "�,- <br /> ..�..,+�,.:�y�q�,�-• . ;^" <br /> i •�.�_ <br /> � � •�-�-a� <br /> . . .;2-J��� <br /> �" <br /> � -. <br /> 1 :T.,_:- <br /> f <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- :;�`- <br /> I M��. <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 : :�= <br /> I ;,�' <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". ""� <br /> N = <br /> 1R �..-,�•'. ._. <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. � __ <br /> ':;<.; <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. " <br /> �: <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 <br /> . . . . . .• ..________� ...t.:..0 ..,...�.:�Il.,o££P�r� T P111IP1'�C 111�PYACY Ill thC �. _.. _,- <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. . <br /> z <br />_ 4 <br />