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<br />is free and clear of all liens and encumbrances, except those set forth in a title policy or title opinion
<br />purchased by Lender and deemed acceptable by Lender, in its sole discretion, in relation to this trust
<br />deed and that Trustor will warrant and defend the Property at Trustor's expense against all claimants
<br />whomsoever. Trustor also hereby waives and relinquishes all rights of dower, homestead, distributive
<br />share, and exemption in and to the above described Real Property.
<br />It is understood and agreed between Trustor and Lender that this trust deed is given to secure the
<br />repayment in full of the all Obligations, regardless of whether Trustor is liable thereon, and all future and
<br />additional loans or advances, protective or otherwise, which may be made by Lender, at its option, at
<br />the request of, and to or for the account of Trustor, any of the parties liable under any of the Loan
<br />Documents, for any purpose, plus interest thereon, all payable according to the terms of the Loan
<br />Documents. Any Obligations secured by this trust deed shall be payable when due as set forth in the
<br />Loan Documents.
<br />Trustor hereby assigns, transfers, and conveys to Lender all rents, issues, income, profits, royalties,
<br />bonuses, and delay moneys or other proceeds that may from time to time become due and payable
<br />under any real estate lease or under any oil, gas, gravel, rock, or other mineral lease of any kind
<br />including geothermal resources now existing or that may hereafter come into existence, covering the
<br />Property or any part thereof. All such sums so received by Lender will be applied to the Obligations
<br />secured hereby; or Lender, at its option, may turn over and deliver to Trustor(s) or their successors in
<br />interest, any or all of such sums without prejudice to any of Lender's rights to take and retain future
<br />sums, and without prejudice to any of its other rights under this trust deed. This assignment will be
<br />construed to be a provision for the payment or reduction of the Obligations, subject to the Lender's
<br />option as hereinbefore provided, independent of the trust deed on the Property.
<br />This is a purchase money trust deed.
<br />Trustor and each of them further covenants and agrees with, or certifies and represents to
<br />Lender as follows:
<br />1. To pay all liens, judgments, or other assessments against the Property, and to pay when due all
<br />assessments, taxes, rents, utilities, fees, charges or encumbrances upon the Property or under any
<br />lease, permit, license, or privilege assigned to Lender as additional security to this trust deed, including
<br />those in or on public domain.
<br />2. To insure and keep insured all buildings and other improvements, including fixtures and attachments
<br />now on or hereafter placed on the Real Property to the satisfaction of Lender. Such insurance will
<br />contain an endorsement showing Lender as Beneficiary. On demand, Trustor will furnish said policies
<br />or proof of insurance to Lender and the insurance carrier shall be satisfactory to Lender. Trustor shall
<br />give written notice to Lender immediately of any claim or loss. Any sums so received by Lender may be
<br />applied in payment of any matured or unmatured Obligations secured by this trust deed, or at the
<br />option of Lender may be used to pay for reconstruction of the destroyed improvements. Such insurance
<br />will be in an amount at least equal to the lesser of the loan balance, the actual cash value of the
<br />Property, or the replacement cost of the Property, and will at a minimum, cover losses caused by fire,
<br />lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and hail.
<br />Trustor will obtain and keep flood insurance in force to cover losses by flood as required by Lender and
<br />by the National Flood Insurance Act of 1968, as amended, and by regulations implementing the same.
<br />Trustor further agrees that Lender is not and will not be liable for any failure by Trustor or by any
<br />insurer, for whatever reason, to obtain and keep this insurance in force. Trustor shall give written notice
<br />to Lender immediately of any cancellation, termination or material modification of any such insurance. If
<br />Trustor fails to maintain the coverage described above, Lender may, at Lender's option, obtain
<br />coverage to protect Lender's rights in the Property according to the terms of this Trust Deed.
<br />3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on
<br />the Real Property occupied and in good repair, maintenance, and condition and to neither commit nor
<br />permit any acts of waste or any impairment of the value of the Property. Trustor shall not remove or
<br />demolish any improvement without prior written approval of the Lender. Trustor shall give immediate
<br />notice to Lender of any material damage to or construction on or related to any of the Property. Lender
<br />App #: 5389879; CIF #: 210478; Note #: 3034409 220SQ Legal Doc. Date: May 16, 2016
<br />FORM 5011, Trust Deed and Assignment of Rents Page 4 of 9
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