|
��l 5�55� 1
<br /> �EED QF TRUST
<br /> �Con�inued} Page �
<br /> on, under, about a��rram �he Praper�y by any prior vwners �r occupan�s af the Prope�t�y, ❑r �c� any a�tual ❑r
<br /> �hreafiened [itigafion or claims of any kind by any person relating t❑ such matters; and �3} Except a� pre�i�usly
<br /> d€sclvsed fa and acknaw[edged by Lender in wri�ing, �a} nei�her Trus#or nor any�enan�,c�ntractvr,a�ent ar oth�r
<br /> autharized user vf the Proper[y sha[f use,generate, manufacture,stvre,treat,dispose of vr release any Hazardous
<br /> 5ubstance❑n, under,abaut or frorr�the Property;and �b} any su�h a�t��ity shall be conducted in �ompliance w��h
<br /> alf applicable federaf, s�a�e, and laca[ laws, �egu[a�ions and ardinanGes, incfuding withaut lirnita�ion all
<br /> Enuironrnenta� Laws. Trustor authari�es Lender and its agen�s �� enter upon the Properiy ta make such
<br /> inspections and tests, a� Trus�or's expense, as Lender may deem appr�pria�e ta determine �ompliance of the
<br /> Prvperty with �his section vf the Deed of�"rus�. Any inspectivns or tes�s made lay Lender shail be for Lsnde�s
<br /> purpases only and shall no�be construed ta crea�e any respvnsibiiit��r fiabili#y❑n the pa�t vf Lender�o Tr�us�or ar
<br /> to any ather person. The representa#ions and warran�ies contained herein are based on Trustar"s due d�ligence �n
<br /> in�estigating�he P�aperty for Hazardous Subs�ances. l"rusto�here�y �1} releases and waives any future c�aims
<br /> aga�ns� Lender for indemn�ty�or��ntribution in the even�Trus�vr becam�� iial��e f�r cleanup or other casfs under
<br /> any su�h laws; and ��3 agrees to indemnify,defend,and h�ld harrnless Lender agains�any and ail Giaims, Iosses,
<br /> liabilities, damages, penafties,and expenses which Lender may directl}�❑r indire�tky sustain ❑r sui�er resulting�rar�
<br /> a breach v�this se�tivn nf�he�eed af Trus�Qr as a cansequence of an�use, generation, manufacture, storage,
<br /> disposal, release ar threa�ened re[ease acGurring prior�a Trus�vr's awnership or interest in the F'rope�-iy,whether or
<br /> nti�the same was ar shauld ha�e bE�n knovvn to Trustar. �he pravisions af this secfiion a��he Deed af�rus�,
<br /> inCluding the obl�gation t�indemnify and defend,sh�all sunri��the paymen�of the ln�ei��edness and�he satisfactinn
<br /> and recanveyance of the lien o��his Deeci a�Trus�and shall nat be a�ected�ay Lender°s acquisitian of any tnterest
<br /> an�he��operty,vvh�the�by�o�-ec[asur�or�therwise.
<br /> Nuisance� �aste. Trustvr shall not cause, conduct ar permit any nuisance nor commit, permit, ar suffer any
<br /> s�ripping of or waste can or�a �he Property vr any partion vf the Praperty. V1lithau� fim��ing �he generality af the
<br /> �oregoing, Trus�or will n��remv�e, or grant to any vther par�y the right#a remoue, any tim�er, rninerals�inGluding
<br /> oil and gas},�oal,ciay,s�oria,soil,gra�el❑r rock produ�ts without Lender"s prior wri�ten consen#_
<br /> Remaval vf lmpro�ements. Trustar shall not d�mvlish or remvve any Impra�ements frvm the Real Praperty vrrithc�ut
<br /> Lender's prior writtsn cansent. As a condition�o the remo�a!o�any lmpro�ements, Lender may require Trus�ar to
<br /> make arrangements satisfac#ory �� Lender tv replace such fmprovements with improvements a� at ieast equal
<br /> �alue.
<br /> L�nder's l�ight to Enter, Lender and Lende�'s agents and represen�atives may enter upon the Real Property at alI
<br /> reasanable fiimes to attand to Lender's interest� and �o inspect �he Real Property �or pu�rposes ❑f Trustor's
<br /> compfianGe wifh the terms and�onditions of this Deed o�Trust.
<br /> Compliance with Gv�ernmenta[ Requi��ments. Trus�vr shai! promptly �omply with alf laws, ardinances, and
<br /> regu[ations, now or hereafter in effect, of all goWe�'nmenta� autharities app[icab[e to the use or occupancy o�the
<br /> Praperty, including withvut lim�tativn,the Americans Vllith ❑isabilities Act. Trustar may contest in gaod faith any
<br /> suGh law, ardinanoe, or regufativn and withhold complian�e during any praceeding, incfud�ng appropria�e appeals,
<br /> s❑lvng as Trus�ar has notified Lender in writing prior to doing sa and so long as, in Lender's sale apinian, Lender's
<br /> interests in fhe �roper�y are not jeapardi�ed. Lender may require Trustor�a pvs� �dequa�� securPty or a surety
<br /> bond, reasanably satisfactary�o Lender,�o prate��Lender`s interest.
<br /> �uty to Pr�tec�. Trustor agrees neither to abandon or leave unattended �he Prvpe�ty. Trus�or sh�ll da al1 vther
<br /> acts, in addi�ian�v�hose a�ts se�fo�th aba�e in this sec�ion,v�rhich�rom the charac�er and use o��he Proper�y are
<br /> reasvnably necessary�o protec�and preserve�he F�roperty.
<br /> TA)CE5 AMID LIENS. The fo[�owing pro�isians rela#ing to the taxes and liens vn the Prop�r�y are part���h't� C3eed vf
<br /> Tru s�.
<br /> Payment. Trustar shall pay when due�and in all e�enfs prior to delinquency}alC taxes,special�axes,assessrnents,
<br /> �harges��ncluding water and sewer},�ines and impasitions leuied against❑r❑n account of the F�rop�rty, and shall
<br /> pay when due all c�aims for work done or���'�vr services r�ndered a�-rnaterial furnished fio the Praperty. T�s�or
<br /> sha�� maintain the Property�ree�f afl liens having priority�ver❑r�quaf to the interes#of Lende€�under this D�ed of
<br /> Trus�, except for the 9ien af taxeS ar�d assessmen�ts not dt�� and excep� as v�herwise pro�ided in fh�s �eed af
<br /> T�us�.
<br /> Right fa Gontes�. Trus�ar may withho�d payrnent a�r any tax, assessmenf,or daim in cvnnec�ion wi�h a gaod fai�h
<br /> dispu�e over th�o��igation�a pay, so long as Lender's interest in fhe Prvperty is nvt jeopardized. I�a lien arises or
<br /> is filed as a result o� nanpayrnent, Trus�vr shall w�thin fi�teen �15) days �fter the lien arises at�, i� a lien is fl�d,
<br /> vvi�hin fif�een �'[5} days afte�-Trustar has notice of the fi[ing, secure the d�scharge af the lien, ar if requested by
<br /> Lender,d�posit v�rith Lender cash or a sufficient carp�rate surety band❑r ofher security sa�isfa�tory tv Lender in an
<br /> amount sufficient to d�scharg�the lien plus any cos�s and attorneys"fees, vr ather�harges�hat could accrue as a
<br /> result of a��reclosure or sale under the lien. In an�r��ntes�,Trustar shall defend itself and Lender and shal!satisfy
<br /> any adve�e jud�ment�efore en�arcement against the Property. T�usfi�r sha�i name Lender as an additional obl�gee
<br /> under any sureiy bvnd furn�shed�n�he cantest proceedings.
<br /> E�ide ce vf Payment. Trus#or shall upon demand fumish to Lender satisfac�vey evidenc�of payment❑f the taxes
<br /> ar as essrnen�s and shall authori�e the appropriate gnvernmen�al vffiicial fv d��i�er ta Lender at any time a written
<br /> state en�vf the�axes and assessments agains�th�1P�'operty.
<br /> N4�ic af Cons�ru�tivn. Trustor shall no�i�y Lend�r at leas�fifteen 415}days befvre any work is cammen�ed, any
<br /> servi s are fumished,ar any materials are suppfied tQ the Property, if any rnechaniG's lien, rnaterialrnen's lien, or
<br /> other ien cauld be asser�ed ❑n accoun�af�he wark, ser�ices, ar materials_ Ti rus�or wi�l upon req�es�of Lender
<br /> furnis to Lender advance assuranGes sa�is�actary tv Lender that Trusta� can and will pay the cast o� such
<br /> irnprv �ments.
<br /> PRaPER ��4MAGE INSURANCE. The fo[�owing pro�isions relating�o insuring�he Prvperty are a part o�th�s Deed af
<br /> �rust.
<br /> Maint nance vf insurance. Trustor sha[I pro�ure and ma�ntain policies of€ire insurance with standard e�ended
<br /> cover ge endorsements an a fa�� �alue basis far fhe fu�! insurable value caver�ng al[ �mprc�ve�ren�s �n #he Re.�l
<br /> Prape in an arnount su�ficient tv avoid appliGafion o'�any�ainsurance claus�, and with a standard mor�gagee
<br /> cfaus in fa�ar vf Lender. Trus�ar shall a�s�procure an� maintain camprehensi�e generaC liabii�ty insuran�e in such
<br /> �over ge amounts as L�nder may reques� w�th Trustee an� l�ender being narrted as addit�ona� insureds in such
<br /> �iabili �nsuran�e poCic�e�. �ddi�ional�y, Trus�or shall m�intair� �uch �ther�nsurance, in�luding but na� lir�it�d ta
<br /> ha.�ar , busin�ss En#errupti�n, and boifer insurance, as Leo�der rnay r�asonably�equir�. F'oli�i�s shall h�wri�en in
<br /> farm, amounts, cv�erages and basis re�sonably �cceptab[e �o Lender and issued �y � �arnpany or cor�panies
<br /> reaso abiy accep�able�v Lender. T�ustor, upon request af Lender, will deliver�o Lender�rom �ime ta time the
<br /> polici s ar certifica�es ❑f insurance in form satisfactory to Lender, including s�ipula�ions�hat co�erages wilP no�k�e
<br /> cance[ec�❑r dimin�shed without at least�hirty�34}day�prior w�itten no�ice ta Lender. Each insu€'ance poli�y also
<br /> shail i clude an endorsemen�pro�iding fhat coverage in fa��r��L�nder will no�be impaired in any way�y any aGt,
<br /> �rniss o� ar de�aul�of T'rus�vr or any vtl�er person. Should th� F�eal Prvperty be lacated in an area designated by
<br /> the A ministratar of the Federal Emergenc�IVlanagement Agency as a sp�cial€I�ad h�zard area,Trustar agrees�o
<br /> �btain and maintain Federal Flo�d �nsurance, if a��i�ab�e, for the fui� unpaid prin�ipal bafance vf the i�an and any
<br /> privr iens on �he praper�y securing the soan, up to the maximurn �olicy limits set under the �latiana� Flvvd
<br />
|