|
� ��14��11�
<br /> �EEv �F -r�u�T
<br /> Loan No: 'I���75'I�� {�ontinu�d� Page �
<br /> PERSDNAL PRflPERTY, fS GIVEN T� SECURE �A} PAYMENT �F T'HE iNDEBTEDfVESS ANa �B� PERF�RNiANCE �F
<br /> A!'VY AND ALL DBLiGATlaNS UNDER THE N�TE, THE RELATED DC]CUMENTS. AND TH1S DEED �F TRUST. TH�S
<br /> DEED �F TRUST IS G1VEN AND ACGEPTED UlV THE F�LLDWING TERlVIS:
<br /> °TRUST�R'S REPRESENTATIDNS AND 'I1�1'ARRANTlES, Trust�r warran�s �hat: �a} this ❑eed of Trust is execut�d at
<br /> � Borrawer`s request and nvt a� the requ�st o� Lender; �b} Trustar has the �ul! power, right, and authori�y to enter into
<br /> this ❑eed of Trust an� �� hypothecate the Property; {cf the prv�isions nf �khis ❑eed vf Trus� do not canflicf with, or
<br /> resu[t in a defau�fi under any agreement or vther instrument b�nding upon Trustar and dv not resul� in a �iala�ion af any
<br /> law. r�gula�ion. court decree ar nrd�r applicable to Trustor; {d� Trustor has es�ab�ished adequate means ofi obtaining
<br /> �rflm Barrower an a continuing basis infarmatian about Borrower's finan�ial cvnditian, and {ey Lender has made no
<br /> r�presentati�n to Trus#or about 6arrawer �inc�uding withou� limi�ation the credi�wvrthiness of Borrawery.
<br /> TRUSTflR'S VIIAIVERS. Trust��wai�es all rights �r defenses arising by reason a�any "on� action" or "an�i-deficiency"
<br /> �aw. ar any other la�rv which ma�r prevent Lender �rr�m hringing any a�t�on against Trustor, in�luding a �laim f�r
<br /> defi�iency to�he extent Lend�r is otherwis� entitled �v a claim far deficiency. before �r after Lender's commencement
<br /> �r completion of any f�reclosure a�tion, either�u�i�ialfy or�y exercise��F a power af sale.
<br /> PAYIVIENT AfVD PERFC3RNlAiVCE. Except as o�herwise provid�d in this �eed a�F Trust, Borrow�r shai[ pay �o Lender all
<br /> Indeb�edness secured �y �his Deed of Trust as i� becnmes due, and Borrower and Trust�r sha�l per��rm all their
<br /> respect�ve obligations under the 1Vote, this aeed of Trust, and the Related aocum�nts.
<br /> PC]SSESSI�N ANQ MAINTEN►4NCE OF THE PR�PERTY. Bvrrower and Trustor agree that Barrower's and Trustor's
<br /> possessivn and use of�he Prop�rty shall be go�erned by the faflawing prvvisions:
<br /> Possess�an and Use. lJntil the occurrence ❑f an E�ent of ❑efaul�, Trustor may �1 y remain in possession and
<br /> contr�l of the Prflp�rty; ��y use. aparate or manage the Property; and �3y co[I�ct�h� Rents�rom the Property.
<br /> Du�y to IUlaintain. Trustor shall maintain the Proper�y in tenantab�e condition and promptly perform alE repairs,
<br /> repEacemen�s, and maintenance necessary ta preser�e its�a[ue.
<br /> Compfiance 1JVith En�iranmen�ta� Laws. Trust�r represents and warran�s to Lendar �hat: {1} During the perivd �f
<br /> Trustar's ownership af�he Proper�y. there has been no use� genera�ian, manu�facture, storage, treatment. d�sposal,
<br /> release or threatened release of any Hazardous Subs�ance by any pers�n ❑n, under, about ❑r from the Praperty;
<br /> ��} Trust�r has n� kn�wledge of, or reasvn to bel�eve �ha�there has been. except as pre�inusiy disclosed fiv and
<br /> acknowiedged by Lender in writing, {a� any l�reach or violation of any EnWironmental Laws, ��y any use,
<br /> genera�ion, manufacture, storage. treatment. disposa�, r�lease vr threafiened release of any Ha�ardaus Substanc�
<br /> on� under� about or from fhe Praper�y by any prior owners or occupants o� the Property, or {�} any actual or
<br /> threatened litigation or claims �f any kind by any person re�afiing �❑ such mat�ters; and �3� Except as prev�ously
<br /> disclosed to and acl�nov►��edged by Lender in writing, �a} neither Trustvr n�r any tenant, can�ractor, agent or other
<br /> authorized user of the Property shall use� generate� manu�acture, store� treat. dispase ❑f or reiease any Hazard�us
<br /> Substance on, under, abQu�vr frvm th� Property; and ��� any such act��ity shall �e conducted in compliance with
<br /> al� applicable f��leral, s�ate, and loca! laws, regulations and flrdinances, in�luding wi�haut fimita�ion all
<br /> Environmental Laws. Trus�tor authari�es Lender and its agents tQ enter up�n th� Property to make SUCh
<br /> inspe�tions and tests, at Trustar's expense, as Lender may deem appropriate tv determine cvmplianc� of the
<br /> Property with this section af the Deed of Trust. Any inspections or tests made by Lender shall be tor Lender's
<br /> purpvses ❑n�y and shal� nat be construed t� create any responsibility or [iability an the part o� Lender to Trustor�r
<br /> to any other person. The repr�senta�t�ons and warranties con�ained herein are based on Trustor's due dEligence in
<br /> in�es�iga�in� fihe Pr�p�rty ��r Hazardous Substances. Trustor hereby t�y releases and wai�es any future cla�ms
<br /> against L�nder for indemnity or cantribu�ivn in the e�ent Trus�or becomes liable for cleanup ar other casts under
<br /> any such laws; and ��} agrees to indemni�y, defend, and hold harmless Lender against any and a[I �laims, losses,
<br /> liabiliti�s, damages, penalties, and expenses v►rhich Lender may directly or indirectly sus�ain or suffer resulting from
<br /> a br�ach o� this se�ti�n o� �he Deed ❑�Trust or as a consequ�nce o�F any use, g�neratian, manufacture, s�arage,
<br /> dispvsal, refease or threatened re[ease occurring prior to Trustar's ownership or interest in fihe Prop�rty, whether or
<br /> no� �he same was �r should have been kn�wn t❑ Trusta�. The pr�visions af this sect�on �f the Deed of Trust,
<br /> including the vbligatian to �ndemnif�r and defend� shall surviv�the payment of the Indebtedness and the satisfaction
<br /> and recan��yance af th� lien af this Deed of Trus�t and shal! not be affected �y Lend�r's acquisitivn of any in��rest
<br /> in the Property, whether by for�closure ar otherwise.
<br /> Nuisance, Was�e. Trustor shall nat cause, conduc� or permit any nuisance nor commit, permit, or suf�er any
<br /> strippin� a� �r waste on or to �he Property or any partivn of the Praperty. INi�hout �imi�ing the generality o� the
<br /> foregoing, Trustor wi11 not r�mo�e, or grant ta any other party the right t� remove, any timber, minera[s �including
<br /> oil and gas}, coal. �lay� scoria. soi�, �ra�e1 or rock products withvu�Lend�r's prior writt�n consen�.
<br /> RemorraE of lmprovements. Trustor shall not dem��ish ❑r remo�e any Impro�ements from th� Reai Prop�r�y withaut
<br /> Lender's prior w�i�ten consen�. As a condition to the remv�a! ❑f any Imprv�ements, Len�er may require Trustor to
<br /> mak� arrangem�nts satisfiac�ory ta Lender tQ replace such �rnprovemen�s with Imprfl►�ements of at leas� equai
<br /> value.
<br /> Lender`s Right to Enter. Lender and Lender's agents and representatives may en�er upon the Real Pr�perty at all
<br /> reasonable times to attend ta Lend�r's interests and to insp�ct the Real Property far purposes of Trustar's
<br /> compliance with�he terms and �ondi�ions nf this ❑�ed af Trust.
<br />
|