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��15��414
<br /> I�EE� �F TRUST
<br /> ���n�ir�ued� � Pag� �
<br /> [ong as this Deed af Trus� remains a lien on the Property, used f�r the �eneration, manufiacture, storage,
<br /> �rea�ment, disposal, �-elease or thr�atened release of any Hazardous Substance in vio[atian o� any EnWironm�ntal
<br /> Lavvs. Trustor au�horizes Lender and its agents to enter upon�he Property to make such inspectians and �ests as
<br /> Lender may deem appropriate tQ determine compfian�e ❑f the Property with this sect�on of th� Deed of Trust,
<br /> Trustor hereby 4�} re[eases and wai�es any future c[aims against Lender far indemnit�or c�nt�ibution in the eW�nt
<br /> Trus�or becvmes liable for cleanup or oth�r costs under any such laws, and 42� agrees to indemnify, de�end, and
<br /> ho�d harmless Lender agains�any and all c[aims and [osses resulting from a brea�h o��his paragraph o��he �3eed �f
<br /> Trust. This abligativn to indemnify and de�fend shall survi�e the payment v��he Ind�bt�dness and the satisfactivn
<br /> af th�s Deed o�Trust.
<br /> DUE QN �ALE� G�NSENT BY LENDERo Lende� may, at Lender's option, declare immedia�ely due and payable all sums
<br /> secured by this ❑eed �f Trust upon the sale ar transfer, withou� Lender's prior wri��en consent, of a[[ or any part of the
<br /> Real Prvperty, or any interest �n the Real Property. A "sa�e or transfer" means the c�n�eyance o�f Real Property or any
<br /> right, tit[e or interest in �he Real Prvperty; whether legal, hene�icial �r equitable; wheth�� �oluntary ❑r �n�oluntary;
<br /> whether by outright sale, deed, installmen� sale �on�rac�, �and c�ntract, contrac� for deed, leaseho[d interest with a
<br /> term greafer than three {3} years, lease-optivn contract, or by sale, assignmen�, �r trans�Fer of any hene�icial interest in
<br /> ❑r �ta any land trus� ho[d�ng title �o �he Real Proper�y, ar by any other method of con�eyanc� of an in�erest in the Rea[
<br /> P��per-�y. However, this option sha[[ no� be exercEsed by L�nder if such ex�rcise is prohibited by federa{ �aw or by
<br /> Nef�ras�a faw.
<br /> TAXES AND L1EN�, The f�[[�wing pro�isions relating to the taxes and liens �n the Proper�y ar� part ❑f this Qeed of
<br /> Trust:
<br /> Paymen�. Trustor shall pay when due {and in ail e�ents p�ia�t� delinquency) all taxes, special�ax�s, assessmen�s, �
<br /> �harges {including water and sewer}, fines and impositions le�ied against or on accQunt o�the Property, and shall
<br /> pay when due all claims for wvrk dvne on ❑r for ser�ices rendered �r ma�erial furnished to the Property. Trus�or
<br /> � shall maintain the Property free o�all liens haW�ng priority��er�r equal to�he interest o� Lender under this Deed af
<br /> Trust, except for �he iien of taxes and assessments nvt du� and except as ❑therwise pro�ided �n this Deed o#
<br /> Trust.
<br /> PR�PERTV I�AMAGE INSU�►41VCE. The fo��owing pro�isions relating to insuring the Praperty are a part of�his Deed �f
<br /> Trust.
<br /> �liaintenance vf Insurance. Trustor shall prvcure and maintain pali�ies of fir� insurance with standard extended
<br /> co�e�age end�rsements ❑n a repfacement �asis for the full insurab[e �alue co�ering all fmprvWements on th� Real
<br /> Prvper�ty Fn an amount sufficien� �o a�oid app�icati�n �-� any coinsurance �lause, and with a standard mor�gagee
<br /> claus� in fa�or o-�L�nder. Trustor sha[I also procu�e and ma�ntain c�mprehensi�e g�n�ra� l�ahili�y insurance in such
<br /> Goverage amvun�s as Lender may r�quest with Trustee and L�nder being named as add�ti�nal insureds in such
<br /> liability insurance policies. Additionaffy, Trustor shaff maFntain such other insurance, incfuding but na� lim�ted ta
<br /> ha�ard, business interruptivn, and b�i[er insurance, as Lender may reasanab[y require. Policies shaf[ be �rvrit�en in
<br /> form, amounts, coverages and basis reasonab�y a�cep�abfe to Lender and issued by a company or companies
<br /> reasonab[y acceptahle ta Lender. Trustor, upon request vf Lender, will deli�er to Lender fram time to time the
<br /> policies or certificates of insurance in form sa��s�act�ry�o Lender, inc[uding stipu[ati�ns tha� ca�erages v�rill no� be
<br /> cancellsd or dim�nished wi-thout a� least ten ���} days prio� written nvtice �o Lender. Each insurance pof icy a�so
<br /> sha�1 inc�ude an endorsement pro�iding that c��erage in fa�or v�Lender wiff not be impaired in any way by any act,
<br /> �missi�n or default v#Trustor ❑r any other person. Should �he Real Proper�y �e I�cated in an area designa�ed by
<br /> the Adm�nistra�or�f-�he Federal Emergency Managsment Agency as a spec�al ffood hazard area, Trus�or agrees to
<br /> obfiain and rnaintain Federa[ Flood Insurance, if aWailable, for the full unpaid prin�ipal bafance o� the I�an and any
<br /> prior li�ns on the proper-�y securing the lvan, up to the maximum poli�y limi�s s�t under the National F[aod
<br /> fnsurance Program, or as otherwis� required by Lender, and to ma�ntain such insurance for the term vf the laan.
<br /> LENDER'S E�CPEN17lTURES. If any act�on vr pro�eed�ng is commenced that would ma�erially a�fect Lender's interest in
<br /> the Pr�perty �r if Trustor fails to camply v�ri�h any �r�Wision vf this I7eed of Trus� �r any Related ❑�cumen�s, in�luding
<br /> but not �imited to Trus�or's fa��ure to discharge or pay when due any amaunts Trus#or is required �a discharge or pay
<br /> und�r this Deed �-f Trust or any Related Do�umenfs, Lender on Trus-�vr's beha[f may (but shall n�t be ob�igated �a� �ake
<br /> any acti�n that L�nder deems app�vpr�ate an the Proper�y and paying a�! cvsts for insuring, maintaining and preser�ing
<br /> the Praperty. All such expenditures incurred �r paid by Lender f�r such purpvses wi�l then bear interest at the rafie
<br /> charged under the Note �rom the da�e �ncurred �r paid by Lender�t� the date af repayment by Trustor. All such
<br /> expenses wi[1 become a part ofi �he ind�btedness and, at Lender's �pt��n, will �A} be payab�e ❑n demand; {g} ��
<br /> add�d to the ba�ance of the Note and he app�rtivned am�ng and be payab[e with any installment paym�nts to become
<br /> due during either �1� the �erm o# a�y app�icab�e insurance pvlicy; �r ��� �he remaining �erm of�he Note; ar �C} he
<br /> treated as a ba[[van paym�nt which will he due and payable at�he No�fie's maturity.
<br /> WARRANTY; DEFENSE�F T1TLE. The�olla�ing pro�isions re[ating tv ownership o��he Property are a part o�this Deed
<br /> o�Trust:
<br /> T��le. Trustor warrants �hat: {a} Trustor h�lds good and marketable �itl� �-� record to �he Property in �ee simple,
<br /> ��ee and clear of a�� liens and en�umbran�es �ther than those set #or�h in the Reaf Property des�ription or in any
<br /> title insurance poficy, �itle report, or final title �pinion f55LlE;CI in �a�or o#, and accepted by, L�nder in connection
<br /> with this Deed of Trust, and tb} Trustar has the full right, p�wer, and au�hori�y to execu�e and de���er this Deed of
<br /> Trus�t❑ Lender.
<br /> De#ense v# Title. 5ubj�ct ta the excepti�n in the paragraph ab�W�, Trus�or warrants and will fore�er defend the
<br /> title�v the Property against the lawful cfaims of afl p�rsons.
<br /> EVENTS aF DEFAULT. Each �f the fo[f�wing, at L�nder's option, shaff c�nstitute an E�ent o� Defauit under�his Deed
<br /> ��Trust:
<br /> Payment Defau[t. Borrov�rer fai[s�o make any paymen�when due under�he lndebtedness.
<br /> �ther Default. Trustor fails�v comp[y witn any other�erm, obl�ga�ion, cv�enant or c�ndition con-�ained in�his Deed
<br /> o�Trust or in any ot the Rela�ed �ocuments.
<br /> Gflmp�ian�e De�Fau[f. Failur� to comply wi�h any other term, obliga�ivn, co�enant or condition con�ained in this
<br /> Deed of Trus�, the No��or in any of the Related D�cuments.
<br /> De#au[�on ather Paymenfs. Failure o�r Trus�or within the time required by this Deed �f Trus�t ta make any paymen�
<br /> for�axes or insurance, or any�the�payment ne�essary tv pre�ent filing of or to ef�ect discharge�f any lien.
<br /> Defau�� in Fa►��r vf Third Part�es. Shoufd Borrower ar any Gran��r default under any I�an, extension of credi�,
<br /> security agreement, purchase or sales agreement, or any a�her a�reement, in fa�or o#any o�her credi�tor ar person
<br /> �hat may ma�eria[[y a�Ffe�t any o# Borrov�rer's or any Gran�or"s property or Sorrower's ability �o repay the
<br /> [ndebtedness or gorrower's ar G�-ant�r's ab�lity to perf�rm their respeGtive abligations under �his Deed ❑�Trust �r
<br /> any re[ated documen�.
<br /> Death ar lnsolvency. The dea�h �f Borrojrver or Trustgr, the insvl�ency of Borrow�r ar Trustor, the appointment o�f
<br /> a receiver fior any part of gorrower's or Trustor's praperty, any assignment for the �enefit of credit�rs, any type o�
<br /> creditor workou�, or the commencement of any proceeding under any banl�ruptcy❑r �ns�(Wency [aws by❑r against
<br /> Borrower�r Trus�or.
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