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201404184
<br /> DEED OF TR4JST
<br /> l.oan No: 1 1 1 1 292-3 [Cont�nued) Page 2
<br /> Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property to ma[ce such
<br /> inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compGance of the
<br /> Proper#y with this section of the Deed of �frust. ,4ny �nspectians or tests made by Lender shall be for Lender's
<br /> purposes only and shall not be construed to creafe any responsibility or Eiability on the part af Lender to Trustor or
<br /> to any other person. The representatipns and warranties containeti herein are based on Trustor's due diligence in
<br /> investigating the Property for Hazardous 5u65Yances. Trustor herehy {1) releases and waives any future claims
<br /> against Lender for indemnity or contribution in the event Trustor I�ecomes liahle for cleanup or other costs under
<br /> any such iaws; and (2) agrees to indemnify, defend, and hold harmlass Lend�r against any a�d all claims, losses,
<br /> liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from
<br /> a breach of this section of the Deed of �rust or as a cansequence of any use, generation, manufacture, storage,
<br /> dispnsal, release or threatened release occurring prior to Trustor's ownership or interest in the Property, whether or
<br /> not the same was or should have been known ta Trustor. The pro�isions of this section of the Deed of Trust,
<br /> including the obligation to 9ndemnify and cfefend, shall survive the payment of the Indebtedness and the satisfaction
<br /> and recanveyance of the lien of this Deed of 7rust and shall not be affected hy Lender's acquisition of any interest
<br /> in the Property, whether by foreclosure or otherwise.
<br /> Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor cornmit, permit, or suffer any
<br /> stripping of or waste on or to the Property or any portian of the Property. Without limiting the generality of the
<br /> foregoing, Trustor will not remove, or grant to any ather party the right to remo�e, any timber, minerals {including
<br /> oil and gasl, coal, clay, scoria, soil, gravel or rock products without Lend�r's prior written cansent.
<br /> Removsl of[mprovements. Trustor shall not demolish or remove any Improvements from the Real Property without
<br /> Lender's prior written cansent. As a condition to the removal of any Improvements, Lender may require Trustor to
<br /> make arrangements satisfactory to Lenrler to rep[ace such Impro�ements with Improvements of at least equa!
<br /> value.
<br /> Lander's Right to Enter. Lender and Lender°s agents and representatives may enter upon the Real Property at all
<br /> reasanable times to attend to Lender's interests and to inspect the Real Property for purposes of Trustor's
<br /> compliance with the terms and canditions of this �eed of 7rust.
<br /> Com�l9ance with Go�ernmental Requiremen#s. Trustar shall prampcly comply with all laws, ardinances, and "
<br /> regulations, now or hereafter in effect, of afl governmenta] authorities applicable to the use or occupancy nf the
<br /> Property, incluc{ing without limitation, tF�e Americans With �isabilities Act Trustor may contest in good faith any
<br /> such law, ordinance, ar regulation and withhold cpmpliance during any praceeding, including appropriate appeals,
<br /> so lang as Trustor has no#ified Lender in writing priar to doing so and so long as, in Lender's sole opinion, Lender's
<br /> interests in the Property are not jeapardized. Lender may require �frustor to post adequate security nr a surety
<br /> bond, reasonably satisfactory to Lender,to protect Lender's interest
<br /> Duty to Protect. Trustor agrees neither #o abandon or fea�e unattended th� Property. Trustor shall do all ocher
<br /> acts, in addition to those acts set forth a6o�e in Yhis section, which from tf�e character and use of the Property are
<br /> reasonahly necessary to protect and preser�e the Prape�ty.
<br /> TAXES AND LI�NS. The following provisions relating ta the texes end liens on the Property are part of this Qeed of
<br /> Trust:
<br /> Payment. Tr�stor shall pay when due (and in all a�ents priar to delinquency] all taxes, special taxes, assessments,
<br /> charges {including water and sewer}, fines and imposi#ions levied against ar on account of the Property, and shall
<br /> pay when due all claims for work done ❑n or for s�rvices rendered or maierial furnished to the Property. Trustor
<br /> shall maintain the Property free o#al{ liens having priority o�er or equal ta ihe interest of Lender �nder this Deed of
<br /> Trust, except for the lien af taxes and assessments not due, except for the Existing Indebtedness referred to
<br /> below, and except as otherwise pro�ided 9n this Deed o#Trust.
<br /> Right#o Contest. Trustor may withhold payment of any tax, assessment, or claim in connection wi#h a good faith
<br /> dispute over fihe obEigation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or
<br /> is filed as a result of nanpayme.nt, Trustor shall within fifteen [15] days after the lien arises or, if a ]ien is filed,
<br /> within #ifteen (15) days after Trustor has notice of the fiNng, secure Yhe discharge of the lien, or if req�ested by
<br /> Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an
<br /> amount sufficient to discharge the lien plus any costs and attorneys' fees, or other charges that could accrue as a
<br /> result of a foreclasure or sale under the lien. In any contest, Trustor shall defend itself and Lender and shall satisfy
<br /> any ad�erse judgment before enforcement against the Property. Trustor shall name Lender as an additional obl3gee
<br /> under any surety bond furnished in the contest proceedings.
<br /> E�idence of Payment. Trustor shall upon demand furnish to Lender sarisfacCory evidence of paymert of the taxes
<br /> or assessments and shall authnrize ihe appropriate go�ernmental official to deliver to Lender at any time a written
<br /> statement of the taxes and assessments against the Property.
<br /> Notice of Constructian. Trustor shall notify Le�der at least fifteen (15} days before any work is commenced, any
<br /> services are furnished, or any materials are supplied Yo the Prop�rty, if any mechanic's lien, ma#erialmen's lien, or
<br /> other lien could 6e asserted on account of the work, services, ar materials. Trustor will upnn requ�st of Lender
<br /> furnish to Lender advance assurances sa4isfactory to Lender that Trustor can and will pay the cost of such
<br /> improvements.
<br /> PROPER7Y DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this �eed of
<br /> Trust.
<br /> Maintenance of Insurance. Trustor shall procure and maintain policies o# fire insurance with standard extended
<br /> coverage endorsements on a fair value basis for the full insura6le value covering all Improvements on the Real
<br /> Property in an amount sufficient to avoid appiieation of any coinsurance clause, and with a standard mortgagee
<br /> clause in favor of Lender. Trustar shall also procure and maintain comprehensive general liability insurance in such
<br /> coverage amounts as Lend�r may request with Trustee and Lender 6eing named as additional insureds in such
<br /> liability insurance pplicies. Additionally, TrusYor shall maintain such other insurance, including hut not IimiEed to
<br /> hazard, business interruption, and 6oiler insurance, as Eender may reasonab[y require. Policies shall be written in
<br /> form, amounts, coverages and basis reasona6ly acceptable to Lender and issued by a comPany or companies
<br /> reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time th�
<br /> policies or certificates of insurance in form satisfactory to Lender, including stipulations #hat coverages wi{I not be
<br /> cancelled or diminished withouC at feast ten {101 days prior written notice tv Lender. Each insurance policy slso
<br /> shalk indude an endorsement prpviding that coverage in favor of Lender will not be impaired in any way by any act,
<br /> amission or default af�frustor or any other person. Should the Real Property be located in an area designated by
<br /> the Administrator of the FederaE Emergency Management Agency as a special flood hazard area, Trustor agrees to
<br /> abtain and maintain Federal Flood Insurance, if available, for the full unpaid principal balance af the loan and any
<br /> prior liens on the property securing the loan, up to the maximum policy limits set under the Na#ianal Flaod
<br /> Insurance Program, or as atherwise required by Lender, and to maintair�such insurance for the term of the loan,
<br /> Applica#ion o#Procaeds. Trustor shall promp#ly notify Lender of any loss or damage to the Property. Lender may
<br /> make proof of loss if Trustor fails ta do so within fifteen [151 days of the casualty. Whether vr not Lender's
<br /> security is impaired, Lender may, at Lender's electian, recei�e and retain the proceeds of any insurance and apply
<br /> the proceeds to the reduction of the IRdeb#edness, payment of any lien a#fiecting the Property, or the restoration
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