|
��l 5�71 74
<br /> DEE� �F TRU�T
<br /> ��ontinued} Page �
<br /> representation ta Trus�vr about 6vrrawer��ncluding withaut lirrtitation th�creditinrorthiness af B�rrower}.
<br /> TRUST�R'S WAIVERS. Trustvr waives alf rights or defenses arisin�by reasvn��any"vne ac�i�n'"or"anti-deficien�y"`
<br /> �aw, or any ather law which may prevent L�nder from bringing any actinn a�ainsf Trustar, including a c�aim fvr
<br /> deficiency t�the exfient Lender is othe�-wise en�itled#o a claim for defrciency, before ar ai�er L�nder's carnmen�ement
<br /> or cornpleti�n�f any fareGlvsure actian,ei#her judicially vr by exercise of a power�f sale.
<br /> PAYMENT AND PERFaRIVIAIVCE. Except as otherwise pro�rided in this Deed�f Trust, garrower and Trustor sha[�pay to
<br /> Lender all Ind�btedness secured by this ❑eed vf Trust as it beGvm�s due, and Bvrrower an� Trustvr shall strictly
<br /> perfarm all th�ir respec�i�e obl3gations under the Nate,this[]eed of Trust,and�he Related❑vcuments.
<br /> P�55ESSI�N AND MAINTENANCE �F THE PRQPERTY. Barrower and Trustar ag�ee that B�rrawe�s and T;-usfor's
<br /> possessivn and use�f the Prvperty shall be gavern�d by the f�ll�wing provisions:
<br /> Pvssession and l�se. Until the accurrence vf an Event af Default, Trus�ar may ��1} remain �n passessivn and
<br /> controf vf the Prape►-�y; �2} use,vp�rafe or rnanage the Properiy;and (3} ca��ec��he Rents frvm the Property.
<br /> ❑utjr to IVla�n#ain, Trustvr shall maintain the Praperty in �enantable conditivn and pramptly pe�fc�rrn al� repairs,
<br /> replacemen�s,and rnain�enanc�nec�ssary to preserve its�alue.
<br /> �vmpliance With En�ironmenta! Laws. Trustor represents and warrants to Lender fihat: �1}� During the peri�d�f
<br /> Trus'��r's ownership of the Property,there has been no use,generatian, manufacture,si�orage,�rea�ment,disposa�,
<br /> release vr threatened release of any H�ardaus 5ubstance by any persan vn, under, a[aout ❑r frarn the Pr�per�y;
<br /> �2} Trustar has no knQwledge o�, vr reason to belie�e�ha��here has been, except as pre�iously�is�fvsed tQ and
<br /> acknawledged hy Lend�r in w�i�ing, �a} any breach or �iolatian �f any En�ironmental Laws, �b} any us�,
<br /> generatiQn, rnanufa�ture, storage, treatment, d�sposal, release ar threatened �elease vf any Hazardous 5ubstance
<br /> on, under, abou� vr from the Prvpe�jr b� any prior owners ❑r occupants of the Praperty, or �c} any actual vr
<br /> threatened li�igation ar clairns �f any kind iay any p�rsan relating ta such rnatt�rs; and t3} Except as prev�ousty
<br /> disclosed to and acknowledged by Lender in wr�ting, �a} neifher Tn.�s#�r nar any�tenant, cvn�rac�ar,agent or other
<br /> auth�rized user❑�the Proper#y shall use,�enerate, rnanufa�ture,s�ore,�rea�, dispose ofi ar�-elease any Hazardous
<br /> Substance on,under,abaut or�ram�he Property;and �b} any such activity shall be conducted�n compliance wi�h
<br /> all applicable federal, sta�e, and lacal laws, regulatians and ardinances, includ�ng without lim#tati�n a�l
<br /> En�ironmenta] Laws. Trustvr aufhorizes L�nder and i�s agents tv en��r up�n the Praperty to make SUGh
<br /> inspecti�ns and tests, a# Trustor's expense, as Lende� may deem appropriate ta determine cvrnpliance of �he
<br /> Property with this sectian of the [3eed af Trus�_ Any insp�ctians ❑�-tests made by Lender shall be�ar Lender's
<br /> purposes oniy an�shall na�be�ansfirued ta create any respvnsihfEity or liahility on�he par�af Lender to Tru�tor or
<br /> to any other persan. The representa�ians and wa�ranti��contained herein are based on Trus�vr`s due diligence in
<br /> in�estigat�ng the Prv�erty for Ha�ardaus 5ubs�ances. Trust�r hereby {�} releases and wa�Wes any future clairns
<br /> against Lender fior indemniiry ar can�ri�u�ion in the e�enf Trustvr bec�mes liable far cleanup�r Qther costs under
<br /> an}�such�aws; and �2} agrees ta indemnify,defend, and hold harrnless Lender against any and al�ciaims, 1�55�5,
<br /> liabilities,damages,p�nalties, and expenses which Lender may directEy v�ind'rre�tly sustain or su�fer resulting�rom
<br /> a breach ❑f this sec�ion vf the C]ee�❑f Trusf or as a cansequence vf any use, genera�ian, manufacture, storage,
<br /> disposai,re�ease or threatened r�lease occurring priar tQ Trustar`s awnership�r interest in the Property,whether or
<br /> nvt#he sarne vvas or shauld ha�e been known �o Trusfor. The prv�is�ans vf th is seGtian o�the Deed �f Trust,
<br /> including the❑biiga�ian to indemni�y and de�end,shafl survi�e the paymant vf�h�lndebtedness and the satisfaction
<br /> and reconveyanGe a�the iien❑�this 1]eed vf Trust and shaii not be aifec��d by Lender's a�quis�t�on n�any interest
<br /> in�he Property,whefiher by foreclQsure❑r vtherwise.
<br /> Nuisance, 'UVaste, Trustvr sha�� not caus�, cvnduGt vr perrnit any nuisance nvr �ornmit, permit, or sufFer any
<br /> stripping of or was�e ❑n ❑r to the Prope�-�y or any pvrtian of�he Pr��erty. Withou� limiting the g�nera�i�y of�he
<br /> f�regaing,Tru�tor w�lf nat remave, ❑r gran�to any other party th�righ�t�remoWe, any timber, minerals�including
<br /> �il and gas3,cval,clay,scoria,soil, gra�el ar ro�k praducts withau�Lend��'s pri�r writt�n consenf.
<br /> Remnval��Improvements. Trustar shaff nat demolish vr remave any Improvemen�s fram the Real Praperty wi�hout
<br /> Lend�r's prior written c�nsen�. As a conditi�n to�he rerno�al af an��mpro�emen�s, Lender may require Trustor ta
<br /> rnake arrangements satis�actory t❑ Len�er to replace such �rnprovements with lmprnvements ❑f at least equal
<br /> �alue.
<br /> Lender's Righ�to Enter. Lender and Lender's ag�nts and represen�atives may enter upon the Reaf Property at ali
<br /> reasonable times to a�tend #❑ Lender's int�rests and ta inspect �he Rea1 Proper�y for purposes of Trustor's
<br /> campliance with the terms and�onditians of this Deed❑f Trust.
<br /> Cvmpliance with �v�ernmental Requirernents. Tn.a�t�r shall promptl� comply with ail laws, �rdinances, and
<br /> reguia�ions, now �r hereai�er in e�fe��, ❑f all goWernrnen�al authvri�ies applicable�v the use or vccupancy af the
<br /> Property, including withvut limitafian, the Arner3�ans VIli�h Disabilities Act. Trustor may cantesfi in ga�d�aith any
<br /> such law, ordinance, o�-regulation an�withhvld compliance during any prviceeding, including appropria�e appea�s,
<br /> sa i�ng as Trustor has notified Lender in writing privr to doing s�and sv lqng as, in Lender's s��e opinion,Lender's
<br /> interes�s in the Prvper�y are not�eapardized. Lender may require Tn.as��r ta pos� adequate security ❑r a sureijr
<br /> band, reasonably sa�isfaGtory to Lender,to pro�ect Lender's interest.
<br /> ❑uty t� Pratect. Trus�ar agre�s neither to abandvn vr leav� una�tended�he Property. Trust�r shall d� a�l o#her
<br /> acts,in addition to those acts set�ar�h a�v�e in this se�tivn,wht�h from the character and use o�tt�e Prope�ty a�-e
<br /> reasanably necessary tv pratec�and pres�rve the Prvperty.
<br /> TAXE5 AIVD LIENS. The fa�lawing provisivns relating to the taxes and liens on the Proper�y are part o�this fleed vf
<br /> Trust:
<br /> Payment. Trustvr shall pay when due tand in all events prior�o defin�uency}all�axes,special taxes,assessments,
<br /> Gharges�including water and sewer},fines and impvsi�ians levied against vr on accvunt❑f�he Pr�perty, and shall
<br /> pay when due all claims fvr wark dane an or�ar servi�es rendered ar material furnished�o th� Property. Trus�or
<br /> shall rnaintain the Pro�erty free o�'a!1 liens having priori�y over ar equal�v�he�n�erest of Lender under th+s Deed v�
<br /> Trust, except�or the lien of taxes and assessrnents nat due and except as vfherwise pro�ided in this �e�d of
<br /> Tru st.
<br /> Right to C�ntest. Trusfi�r rnay w�thhold payment�f any tax, assessment, ar claim in Gannection wi�h a g��d fai#h
<br /> dispute aver#he�bligativn fo pay,sa long as Lender's interes�in the Property is nat jeopardi��d. if a lien arises❑r
<br /> is fiied as a resul�of nonpayment, Trustar shall within fifk�en �1�} �ays after the lien arises or, if a �ien is filed,
<br /> with in fi�teen �`i 5} days after Trus�ar has na�ice �f�he fiiling, secure the dis�harge of the lien, �r if requested by
<br /> Lender,deposit wi�h Lender cash ar a suf�icient cvrpvrate sure'ty bond❑r ather se�urity satisfactary t�Lender in an
<br /> amnun��ufficient tv dis�harge the��en p�us any costs and attarn�ys'fees, vr�ther charges�tha�could a�crue as a
<br /> result vf a fvrec�vsure or sa�e under the lien. ln any�ontest, Trustar shalf defend itself and Lender and shali satisfy
<br /> any adverse judgment befvre enfo�-�emen�against the Property_ Trustar shall name�_ender as an additf�nal abligee
<br /> under any sure�y band furnished in the contes#proc�ed�ngs.
<br /> E�idence of Payment. Trustor shall upvn demand fur-nish�❑ Lender satisfactvry evidence of paymen#ofi the taxes
<br /> or assessmen�s and shal� auth�ri�e the apprvpriate gc��ernmen�al offi�i�l�o deli�er tv Lender a�any time a writt�n
<br /> sta�ernent❑f the taxes and assessrnents against th�Praperty.
<br /> NotEce af�onstruc�ivn. Trus�or shail notify Lende�at�east fi�teei� (�5} days befare any work �s �vmmenced, any
<br />
|