|
2� 15�8444
<br /> DEED �F TRUST
<br /> ��ont�nued� Page 2
<br /> #his Deed of Trust and to hypothecate the Prvperty; tc} the pro�isions vf�his Deed of Trust dv not conflict with, ar
<br /> �esult in a default under any ag�eement or other instrument binding upon Trustor and do not result in a�iolafion of any
<br /> faw, regulation, cvurt decree or order applicable to Tr�ustvr; [d}T�ustvr has established adequate means of obtaining
<br /> from Borrower on a continuing bas�s in�Format�an about Borrvwer's financial condition; and (e} Lender has made no
<br /> representativn to Trustor abvut Borrower��ncluding withaut limitation#he creditworthiness of Barrower}.
<br /> 7RUST�R'S WAIVERS. Trustar wai�es all rights or defenses aris�ng by�easan of any"one action"�r"anti-defic�ency"
<br /> law, ar any other Iaw which may pre�ent Lender from bringing any action against Trustnr, including a claim fior
<br /> deficien�y to the ex�ent Lender is otherwise enti#led to a claim for deficiency, be�Fore ar after Lender's cammencement
<br /> or cvmpletion of any�oreclosure action,either judicially or by exe�cise o�a pov►rer of saie.
<br /> PAYIUIENT AN� PERF�R1tiAAIVCE. Ex�ept as otherwise prvvided in this �eed o'f Trust, Bvrrower shall pay tv Lender a!i
<br /> lndebtedness secu�ed by this �eed �f Trus� as it becomes due, and Bvrrower and Trustor shall perform afl their
<br /> respecti�e obligativns under the Nvte,this Deed of T�ust, and the Related❑ocuments.
<br /> PD5SE5SI�N AND MAINTENANCE �F THE PR�PERTY. Borrower and Trustor agree that Borrower's and Trustor's
<br /> possession and use of the Prvperty shalf be go�erned by the folfowing pra�isions:
<br /> Passession and Use. Until the occur�ence of an E�ent vf Defau[t, Trustor may (1} �emain in possession and
<br /> cont�ol of#he Property; ��} use,operate ar manage the Property;and {3� colfec�the Rents from the Property.
<br /> Duty to itiilaintain. Trus�or shall maintain the Property in tenantable candit�on and promptly perform aIl repairs,
<br /> replacemen�s,and maintenance necessary�o preserve its�alue.
<br /> Compliance With En�ironmental Laws. Trustor represenfs and warrants to Lender that: ��} Dur�ng the perivd o'F
<br /> Trustor's owne�ship of the Property,there has been no use,generation, manufacture,storage,treatment,disposaE,
<br /> release ar threatened release of any Hazardous Subsfianr.e by any person on, under, about or from the Property;
<br /> �2} Trustor has no knowledge of, or reason�� belie�e that there has been, except as pre�ivusly disclvsed to and
<br /> acknowledged by Lend�r in writing, (a} any breach o� �ioiation of any En�ironmental Law�, �b} any use,
<br /> generation, manufacture, storage, treatment, disp�sai, release vr threatened release of any Hazardous Substance
<br /> nn, under, about a�from the Property by any prior o►n►ners or occupants �f the Property, or �c} any actual or
<br /> �h�ea�ened lit3gation ar c4aims ofi any kind by any person �elating to such matters; and t3} Excep�as p�e�iausjy
<br /> disclosed to and acknowEedged by L�nder in writEng, �a} ne�ther Trustor nor any tenan�, con�ra�tor,agen#ar o#her
<br /> authorized user of th�Property shall use, generate, manufacture, sto�e, treat, dispose of a�release any Hazardous
<br /> Substance on, under, about or from�the Property;and �b} any such acti�ity shall be conducted in compliance wifh
<br /> a�l applicable federa�, s�tate, and locai laws, regulations and ordinances, including without limitat�on alE
<br /> En►rironmental Laws. Trustor au�horizes Lender and {ts agents to en�er upon the Property tv make such
<br /> inspections and te�ts, at Trustor's expen�e, as Lender may deem appropriate ta dete�mine complianoe of the
<br /> Property with this se�tion of the Deed of T�ust. Any inspections or tests made by Lender shall be for Lender's
<br /> purposes only and shall nat be consfrued #o create any responsibE�ity�r[i�bility on the part of Lender ta Trustar or
<br /> t❑any othe�person. The representatians and warran�ies cantained hereEn are based on Trusto�'s due diligenoe in
<br /> in�estigat3ng the Praperty for Haza�-dvus Substances. Trustor here�y (1} releases and wai�es any futu�e cfaims
<br /> against Lender for indemnity ar contribu#ion in the event Trustor becomes liable fo�c�eanup or other costs under
<br /> any such laws; and �2} agrees to indemnify, defend, and hold harmless Lender against any and all claims, losses,
<br /> [iabilifEes, damages, penaities, and expenses►rvhich Lender may dErectly or indirect�y sustain or suffer�-esulting from
<br /> a breach of this section of the aeed o�F Trust vr as a consequence of any use, generativn, manufacture, storage,
<br /> disposal, release vr threatened release ocGurring prior to Trustor's awnership or interest in the Property,whether or
<br /> not the same was or shouid ha�e been knawn to Trus�or. The p�o�isions of this sect�on of the Qeed of Trust,
<br /> in�luding the obligation t❑ indemni�y and defend,shall su�vi�e the payment o�the Indehtedness and the sa�isfaction
<br /> and recon�eyance af the lien o�th�s Deed of Trust and shall not be afFected by Lende�s acquisition o�any interest
<br /> in the Property,whether by foreclosure ar o�herwise.
<br /> Nuisance, Waste. Trustnr shalf not cause, conduGt or peRnit any nuisance nvr commit, permit, or suffer any
<br /> stripping of or waste on or to the Property or any portion o�the Property. UVithout limiting the generality of the
<br /> fo�egoing, Trustor will not rema�e, or grant to any other party�he righ��o r�emo�e, any timber, minerals��nc�uding
<br /> oil and gas},coal,clay, scoria,soil,gra�el or rock p�aducts without Lender's prior w�itten consent.
<br /> Remo�al of[mprv�ements. Trus#or shaf[not demalish or remv�e any�mpro�ements�rom the Real Property without
<br /> Lender's prior written consenf. As a condition to the remo�al of any lmpro�ements, Lender may require Trustor�o
<br /> make arrangements satis�actory to Lende� to replave such lmpro�ements with �mpro�em�nts of at least equal
<br /> �alue.
<br /> Lender's Right to Enter. Lender and Lender's agen#s and representati�es may enter upon�he Real Prvper�y at all
<br /> reasonab�e times tv att�nd �v Lender's interests and tv inspect the Rea] Praperty fvr purposes vf Trustvr's
<br /> compliance with the terms and conditi�ns vf this Deed�f Trust.
<br /> Comp�iance w�th Gove�nmenta[ Requ�rements. Trustor shall promptly comply wi#h al� �a►n►s, ord�nances, and
<br /> regufa#ions, now or hereafter in effect, o�a11 go�emmental autharities applicable to the use or occupancy of#he
<br /> Property, including without limitation, the Americans 1N�th DEsabili�ies Act. Trustor may contsst in gaod faith any
<br /> such law, ordinan�e, or regulation and withhoEd cvmpl�ance during any proceeding, including apprvpriate appea�s,
<br /> so long as Trustor has notified Lender in writing prior tv doing sa and sa Iong as, in Lender's sale op�nion, Lender�s
<br /> �nterests in the Property a�e not jeopardized. Lender may require Trustor to pos�adequate security or a surety
<br />
|