|
2� 15�79��
<br /> DEEa �F TRU�T
<br /> �C�ntinu�ed� Page �
<br /> Lender al� lndeb�edness secu�ed by this Deed af Trust as it becames due, and Bor�-ower and Trust�r shal! s�rictly
<br /> perform a�l their respec�ive vhligafions under the Note,this Deed of Trust,and the Rslated Dvcumen�s,
<br /> P�SSESSI�N AND MAfNTEN►4NCE �F TH� PR�PERTY. Bvrrvwer and Trusfivr agree �hat Borrower's and Trustor's
<br /> pvssessivn and use of the Property shall be go�erned by the fall�v�in�pro�isions:
<br /> Pvssession and Use. Until the a�Gurrence of an E�ent of Default, Trus�or may �'�} remain in possession and
<br /> cnn�rvl ofi the P�operty; �2} use,opera�e❑r manage the PrQperty; and �3} colfect the Ren�s from�he Property.
<br /> Du�y tv Maintain, Trustor shall maintain �he Prop�rty in tenan�abfe cvndi�ion and promptly pertorm a�f �epairs,
<br /> replacements,and maintenanc�necessary tv preserve i�s�alue.
<br /> Compliance 1Nifh Enrrirvnmental Laws. Trustar represents and warrants tv Lender tha�: �'�} During the perivd vf
<br /> Trusta�`s ownership❑f the Prvper�y,there has been no use,genera�ivn, manufac�ure,storage,treatment, d�spasal,
<br /> release Qr�hreatened release vf any Hazardvus Substance by any pers�n �n, under, about vr�ram �he Prvperty;
<br /> ��} Trus�ar has no knvvvledge of, or reason tv belie�e that fihere has �een, excepfi as preuious�y dis�lased to and
<br /> ackn�wledged by Lender in writing, �a} any breach or vialatinn of any En�irvnmental Laws, tb) any use,
<br /> generation, manufacture, storage, trea�ment, disposa�, release or th�eatened release of any Hazardaus Substance
<br /> an, �nder, about ar fr�m th� Property by any �ri�r Qwners vr �ccupants ❑f the Prope:-ty, vr �c} any actua� vr
<br /> threatened litigatFvn ❑r�la�ms af any kind by any person relating tv such matters; and �3} Except as p�evivusly
<br /> disclased to and acknowledged hy Lender tn writing, �a� nei#her Trustar nor any tenan�,c�ntrac��r, agent�r��her
<br /> autharized user of the f�roperly shall use, generate, manufa�ture, stare,fireat, dispase vf ar release any Hazardaus
<br /> Substance on, under, abQu#or from the Prope�-ty;and �b} any such ac�i��ty shall be conducted in compliance wi#h
<br /> alf applicab�e federal, state, and lv�al Eaws, regulat�ans and ordinances, inCluding wi�hout ��mitativn al�
<br /> En�fr�nmental Laws. Trus�ar au�hv�-i�es Lender and its agen�s tv en�er upon �he Property �o make SUCh
<br /> inspections and tes�s, at Trustar's expense, as Lender may deem app�-opriate �a dste�-mine compliance o� the
<br /> Praperty with this sectian af the �eed of Trust. Any inspectians ar t�sts made by Lender shall be fQr Lender's
<br /> purposes on[y and shal� not be cons�rued�o create any resp�nsibility or liabili�y�n�he part o�Lender to Trustor or
<br /> to any vther person. The represen�a�ions and warran��es contained herein are based an Trustar's due diligence in
<br /> in�estigating the Property�ar Hazardous 5ubstances. Trus�ar hereby {1} re�eases and wai�es any future ctaims
<br /> against Lender�vr indemnity or con�ribu�ian in the event Trus�or�ecames liable fo� cleanup�r �ther costs under
<br /> any such laws; and ��} agrees tv indemnify, d��end, and hvld harmless Lender agains�any and all �iaims, lasses,
<br /> 1iak�ili�ies, darnages, penalties, and expenses which Lender may direct[y or indire�t�y sustain or suffer resu�ting frvm
<br /> a breach of this section af the Deed of Tn.rst ar as a c�ns�quence❑f any use, generativn, manufac�ure, st�rage,
<br /> disposal, re�eass�r threafi�ned re�eas�o�curr�ng privr to Trustor's flvvnership❑�-in�erest in the Property,whe�h�r vr
<br /> nvt the same was ❑r should ha�e been known tv Trustvr. The pr�visians of fhis sec�ion of the Deed ��Trust,
<br /> including the obliga�ivn to�ndemni�Fy and defend,sh�ll survi�e the payment of the�ndebtedn��s and�he satis�acti�n
<br /> and recvn�eyance vf the lien of this Deed of Trust and shall nv�be a�fected by Lender's a�quisitian o�any interest
<br /> in the Prvperty,whe#her by to�eclasure❑r otherwise.
<br /> Nuisance, tiJVaste. Tru��vr shali not cause, canduc� ❑r permit any nuisance nvr commit, permit, or suffer any
<br /> stripp�ng of or waste ❑n vr t❑ the Property or any pc�rti�n af�he Property. 1Nithou� limiting the generality❑f the
<br /> foreg�ing, Trusta�-will not remo�e, or grant tv any�ther-party the right fiv rema�e, any timber, minerals�including
<br /> ail and gas�,caa�,�lay,s�oria,so��,gra�e�or rnck prvducts wi�hvut Lender's pr�or w�i��en consen�.
<br /> Remo�ai of�n�pro►►err�ents, TrustQr shall nflt demfllish vr rem��e any Imprv��ments fram the Real Praper�y wi�h�u�
<br /> Lende�'s priflr written consent. As a�vnditivn t❑ �he removal ❑f any Imp�o��ments, Lender may require Trustor��
<br /> mak� �rrangements satisfactvey tv Lender tv replace such lmpravements with Imprvvements af at leas� equa�
<br /> �a�ue.
<br /> Lender's Right t� Enter. Lende�-and L�nder's agents and representatives may enter upvn the Real Property a�a�l
<br /> reasonable times to attend to Lender's interes�s and to inspect th� Reai Prope�ty fvr purposes of T�-ustvr's
<br /> �ompliance with the terms and conditi�ns vf this Deed of Trust.
<br /> Campliance with Go�ernmental Requirements. Trus�or shaf� pramptly comply ►nri�h al� laws, ardinances, and
<br /> reguEat�ons, now or hereafter in ef�ec�, o�a�l gvvernmental authorities app�fcable to th� use vr accupancy o�#he
<br /> Property, inGludin�without limitation, the Americans Vlli�h C�isabilit�es A�t. Trust�r may con�est in �aad faith any
<br /> such law, ordinance, or regulation and wi�hhold cvmpliance during any proceeding, �nciuding apprvpr�ate appeals,
<br /> so fang as Trustvr has na�ified Lendsr�n writ�ng priar tv dving sv and sn l�rng a�, �n Lender's sole opinion, Lende�'s
<br /> interes�s in �he Praperty are nvt jeQpardized. Lender rnay require Trustor ta pos� adequa�e �ecurity ❑r a surety
<br /> bvnd, reasonably sat�sfactory tv Lender,tn prvtec�Lender's Enterest.
<br /> Duty ta Pratec�. Trus#or agrees n�ither tv abandon ar leave unattended the Property. Trustar shall dv a�l ❑ther
<br /> ac�s, in addition ta those ac�s se�forth abave in this sectian,which frvm the charact�r and use of the Property are
<br /> reasanabfy necessary�n protec�and preserve the Properky.
<br /> TA�CES AND LlENS, The following pro�isions re�a�ing to the #axes and liens an the Proper�y are pa� of this ❑eed �f
<br /> Trust:
<br /> Payment. Trusfior shal� pay when due�and in al!e�ents prior ta de[inquen�y}a[I�axes, special�axes, assessments,
<br /> charges �incfuding wa#er and sewer}, fnes and imposi�ians �evied against ar on accaunt�f�he Praperty, and shall
<br /> pay when due al� c�aims far w�rk dane vn vr�Fvr servi�es rendered ar maferial furnished�� the Prvperty. Trustor
<br /> sha11 main�a�n the Prap�rty free af ail ���ns ha�ing priari�y v�er vr equal to the interes�afi Lender und�r this Deed v�
<br /> Trus#, except for the li�n of taxes and assessments not due and excep� as atherw�se pravided in this Deed of
<br /> Trust.
<br /> Righ�ta Cvntest. Trus�or may uvithhold payment of any�ax, assessmen�, or claim in cvnne�tion wi�h a good�a��h
<br /> dispute aver the abligatiQn tv pay, sa long as Lender's in�er�st in the Pr�perky is no��ec�pardized. ��a lien arises�r
<br /> is �iied as a resul�❑f nonpayment, TruStvr sha11 within fi�kee� �'153 �ays af�er the lien arises or, if a lien is filed,
<br /> wi�hin f��fieen €15} days a�ter Trus��r has no�ice ❑f�he fi�ing, �ecure�he d�scharge of�he [ien, or if reques�ed by
<br /> Lender,d�po�it with Lender cash Qr a su�ficient corporate sure�y band�r other securify satisfactary to Lender in an
<br /> amaunt sufficient�❑ discharge the lien plus any cas�s and attorneys'�ees, �r other charges that cau�d accrue as a
<br /> �esu�t of a�areelasure ar sale under�he lien. ln any contest, Trustar shall defend Etself and Lender and shai�satisfy
<br /> any adverse judgment befare enforcement against the Proper�y. Trustor shall nam�Lender as an additional❑bfigee
<br /> under any surety band�urnished in the cnnt�st prviceeding�.
<br /> E�idence of Payrnent. Trust�r shall upon demand�urnish tv Lander satisf�c�ary e�iden�e�f payment a�the taxes
<br /> or assessments and sh��� autharize the app�-apriate go�ernmental ❑fficial�o de[i�er�Q Lender at any time a wr�tten
<br /> stat�ment of the taxes and assessments agains��he Proper�y.
<br /> Notice vf�anstruction. Trus�ar sha[f notify Lende�-a��eas�ffteen �'��}days before any wo�-� is commen�ed, any
<br /> services are furnished,ar any materials are supplied t❑ the Property, if any mechanic's lien, mafieria�men's I�en, flr
<br /> other Iien cauld be asserted �n account of the vsrork, s�rvices, or mater�als. Trustor w€11 upon reques#vf Lender
<br /> furnish ta Lender advance assuran�es satisfact�ry fio �ender that Trustar can and will pay �he C05� of such
<br /> imprv�emen�s.
<br /> PR�PERT'�'I]AMAGE INSURAIV�E. The fallowing prQ�risions relating�o insuring the Prvperty are a par�o�this Deed of
<br /> Trust.
<br />
|