201601025 - Laserfiche WebLink

Browse

2� 1 �� 1 �25 DEED C3F TRUST Loan No: '1�'I�93�8� {�orlt�nued� Page 5 to permit such participation. Cvmpliance W�th Laws. Trustvr warrants tha# �he P�-oper�y and Trustor's use of the Property c�mplies wi�h all existing applicabfe Eaws, ordinances, and regulations o�go�emmenta! authorities. 5ur�ivai of Representations and 1Narranties. A[! represen�a�ions� warranties, and agreements made by Trustor in �his Deed of Trust shall sur�ive the execution and deliWery❑f this ae�d af Trust, sha�! be con#inuing in nature, and shall rema�n in fu�!�orce and e�fect until such time as Bor�ower's �ndebtedness shall be paid in#ull. EX�STING 1NDEBTEDNESS. The fvllowing pra�isivns concerning Exis#ing [ndebt�dness are a part a#this Deed af Trust: Existing Lien. The �ien vf this ❑eed o# Trus# securing the Indeb#edness may be secnndary and in��rior to an exis��ng lien. Trustor express�y cv�enan�s and agre�s t❑ pay, ar see to the payment of, the Existing lndebtedness and ta pre�en�any de�ault an such indebtedness, any de�ault under the instruments e�idenc�ng such indebtedness, or any defau�t under any security documen�s�or such indebtedness. No IVlodification. Trustor shall not en�er inta any agreement with the hafder vf any martgage, deed of trust, ar o�her securi�y agreemen� which has priority over this Deed af Trust hy which that agreement is modified� amended� extended, or renewed withou� the prior wri�ten consen� o�F Lender. Trustor sha[� ne�fiher request nvr accep#any#uture advances under any such se�urity agreement withaut fihe priQr wri�ten consent❑f Lender. CONDEMNAT��N. The�of�owing pro�isions re�ating to cvndemnativn proceedings are a part of�his ❑eed of Trus�: Prviceedings. 1� any praceeding in candemnation is �iled, Trustvr shall prompt�y nvtE�y Lender in w�-iting, and Trustar shall pramptly take such steps as may be ne�essary tv defend the action and ob�ain th� award. Trusto�- may be�he nvminal party in such p�oceeding, but Lend��shall be entitEed t❑ part�cipate in the praceed�ng and tv be represented in the proceeding by counsel af its ❑wn choice, and Trustor will def��er ar cause ta be deli�ered to L�nder such �ns�ruments and dacumen�a�ion as may be requested hy Lender �rnm time to time to permit such par�i�ipatEvn. App�icativn of Nef Praceeds. �f all or any part of the Property is cnndemned by eminen#dnmain proceedings vr �y any proceeding or purchase in lieu of condemnation, Lender may at its�lection require that all or any partion ❑f the net praceeds o� the awa�d be applied to the Indebtedness ar the repair or restoratian vf the Property. The net proceeds of the award sha�i mean the award after payment v�afE reasanable c�s�s, expenses, and a�to�neys' �ees incur��d by Truste�ar Lender in cvnnectivn►nrith the candemnation. EMP�S�TI�N �F TAXES, FEES AND CHARGES BY G�VERNMENTAL AVTH�RITIES, The �o�lawing pra�isians rela�ting ta gn�ernmentaE taxes, fees and charges are a part o#this Deed o�Trus�: Current Taxesr F@@5 and Charges. Upan request hy Lender, Trus�or sha�! execut� such documents in addEtion t❑ this Deed o#Trust and take wha�e�er o�her action is requested by Lender t❑ per�ect and continue Lende�r's �ien on �he Rea� Prvp�rty. Trustor shall reimburse Lender for a�l taxes� as described belvw, toge�her with a11 expenses incurred in record�ng, perfectin� or cvntinuing this Deed �� Trus�, including withou� fimitation al[ #axes, �ees, dacumentary stamps, and other cha�-ges for recording a��-egistering this Deed of Trust. Taxes. The follawing sha[f const�tufie �axes tv wh�ch this section applies: ��y a spec��ic tax upon fihis type of Deed ot Trust or upvn al� ❑r any part of the indebtedness secured by th�s Qeed o� Trust; �2� a specif�c �ax an Bor�ower which Barrvwer is autharized or requirsd to deduc� from payments on �he Indebtedness secured by this type of Deed of Trust; �3y a tax vn this type ❑f Deed vf Trust chargeable against the Lende�-�r the ha[der af th� N�te; and t4y a specific tax on afl vr any p�rtion vf the [ndeb�edness or on payments �� principa� and interest made by gvrrower. Subsequent Taxes. if any tax to which this section app�ies is ena��ed subsequen� to the date O� t�'115 ❑eed �� Trust, this e�en� sha�! ha�e the same e-Ffect as an E�ent of Default, and Lender may exercise any o� aE� ❑f i�s a�ailable remedies for an Event of Defiault as provided be[vw unless Trustor ei�her (�} pays the tax before it becomes delinquen#, or {2} con�es#s the tax as pro�ided aba�e in the Taxes and Liens sectian and deposits wi�h Lender�ash or a su�ficien�corporate surety�ond vr o�her securifiy satis�actory to Lender. SECURITY AGREEMENT: FINANCING STATEMENTS. The fvllowing prnv3sians relating to this Deed af Trusfi as a security agreement are a par�of thss Deed of Trust: Securi�y Agreemen�. This instrument shall cvnstitute a Se�urfty Agreement tv �he ex�ent any o� the Prape�ty cvnstitutes ��xtures. and Lender shall have all o#the r�ghts o� a secured party under the Unifarm Commercia[ �qde as amended fram time tv time, Security interest. Upon request by Lender� Trustor shall take wha�ever aG�ian is requested by Lender fio perfe�� and continue Lender's secu�ity in�erest in the Rents and Personal Prvperty. �n addi�Ean to recording this ❑eed of Trust in the real property re�ards, Lender may� at any time and withau� #urther authorization from T�-ustvr, fi�� executed counterparts, copies o� reproductions vf �his Dee� af Trust as a �inancing statement. Trustor shall reimburse Lender�flr all expenses incurred in perfec�ing or can�inuing �this securi�y interest. Upon de�ault. Trustar shall no� remv�e� se�er vr detach the PersonaE Prvperty �ram the Praperty. Upon default, Trustor shall ass�mb�e any Personal Property no� affixed to the Property in a manner and at a pface �reasonably con�en�en�to Trustar and Lender and make it available to Lender within �hree (3} days after �-eceipt o� wri�en demand �frvm Lender to the extent permi�ted by applicable faw.