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201503758
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Last modified
6/5/2015 4:35:30 PM
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6/5/2015 4:35:28 PM
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DEEDS
Inst Number
201503758
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201503758 <br />(27) none of the Land is subject to The Reclamation Act of 1902, the Omnibus Adjustment Act of 1926, the <br />Reclamation Reform Act of 1982 and any act or law supplementary thereto and all rules and regulations <br />promulgated thereunder. <br />ARTICLE 7— COVENANTS <br />7.01 Performance of Secured Obligations. Trustor shall promptly pay and perform each Secured <br />Obligation in accordance with its terms. <br />7.02 Maintenance and Preservation of Property. Trustor shall: <br />(1) immediately discharge any lien on the Property which Beneficiary has not consented to in writing, and <br />shall also pay when due each obligation secured by or reducible to a lien, charge or encumbrance which <br />now or hereafter encumbers or appears to encumber all or part of the Property, whether the lien, charge <br />or encumbrance is or would be senior or subordinate to this deed of trust; <br />(2) not alter, remove or demolish any portion of the Improvements, except as permitted or required by the <br />Loan Agreement; <br />(3) not permit any tangible Personalty (except for Equipment being repaired or restored) to be kept at any <br />location other than on the Land; <br />(4) if any Personalty is at any time in the possession of a bailee, Trustor shall promptly notify Beneficiary <br />thereof and, at Beneficiary's request, shall promptly obtain an acknowledgement from the bailee, in form <br />and substance reasonably satisfactory to Beneficiary, that the bailee holds the Personalty for the benefit <br />of Beneficiary and such bailee's agreement to comply with any instructions received from Beneficiary; <br />(5) maintain (or cause to be maintained) all policies of insurance required under the Loan Agreement and pay <br />(or cause payment of) all premiums for that insurance on or prior to the date when due; <br />(6) promptly and completely repair and /or restore any portion of the Property which becomes damaged or <br />destroyed, in a good and workmanlike manner in accordance with sound building practices, whether or <br />not Trustor has received the proceeds of any Insurance Claim; <br />(7) not commit or allow any waste of the Property, nor do or suffer to be done any act whereby the value of <br />any part of the Property may be lessened; <br />(8) not initiate or allow any change in any zoning or other land use classification which affects the Property or <br />any part of it, except as permitted or required by the Loan Agreement; <br />(9) maintain any forest, agricultural or similar tax classification of the Land, and not allow any act or omission <br />which would disqualify the Land for beneficial tax assessment; <br />(10) complete appropriation and adjudication and all other requirements, if any, necessary to obtain the <br />issuance of any license or water permit issued to Trustor, and take all other steps required or advisable <br />for purposes of perfecting and maintaining in good status all other Water Rights; <br />(11) not bring or keep any article on the Property or cause or allow any condition to exist on it, if that could <br />invalidate or would be prohibited by any insurance coverage required to be maintained by Trustor on the <br />Property or any part of it under this deed of trust; and <br />(12) perform all other acts which from the character or use of the Property may be reasonably necessary to <br />maintain and preserve its value and utility. <br />7.03 Water Rights. Trustor shall maintain the Water Rights during the term of the Loan at a level and <br />of a nature sufficient to provide the continuing, enforceable right to receive irrigation water on the Property from <br />Willoughby <br />Deed of Trust, Assignment of Rents, Security Agreement, and Fixture Filing <br />Loan no. 197694 <br />8 <br />Rev. 1.7.2015 <br />
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