|
2� 1 ��557�
<br /> aEEa oF TRusT
<br /> ��ont�nued� Pa�e z
<br /> inspections and tests� at Trustar`s expense, as Lender may deem appropriate to determine compliance of the
<br /> Property with this section of the Deed vf Trust. Any inspections vr tests made by Lendef shall be for Lender's
<br /> purpases only and shall nat be construed to cr�at� any respansibility or liability on the part of Lender to Trustor or
<br /> to any ather persvn. The representations and warranties cantain�d herein are based on Trustor's due diligence in
<br /> in�estigating the Prvperty #vr Hazardous 5ubstances. Trustvr hereby �1 f releases and wai��s any futu�e claims
<br /> against Lender far indemnity or contribution in the e�ent Trustor becames liable for cleanup or ather costs under
<br /> any such laws; and �2y agrees tv indemni#y, defend, and hold harmless Lender aga�nst any and all claims. Iosses,
<br /> liabilities, damages, penalties, and expenses which Lender may di�ectly or indirectly sustain or su##er resulting from
<br /> a k�reach of this secti�n of the Deed �f Trust or as a �onsequen�e of any use, generativn. manufacture, storage,
<br /> dispasal, release or threatened release ac�urring priar to Trustar's ownership or in#erest in the Property, whe#her vr
<br /> not the same was or should ha�e been known to Trustvr. The pro�isions of this sectian ot the Desd of Trust,
<br /> including the vbligativn to indemnify and defend, shall sur�i�e the payment vf the Indehtedness and the satisfaction
<br /> and recon�eyance vf the lien vf this ❑eed of Trust and shall not t�e affected by Lender's acquisitivn of any interest
<br /> in the Praperty, whether by fvreclosure�r❑therwise.
<br /> Nuisan�e. Waste. Trustor shall not �ause, conduct ar permit any nuisance nor commit. permit, or sufter any
<br /> stripping vf ar waste vn or to the Prope�ty ar any portian af the Pr�perty. With�ut limiting the generality of the
<br /> foregoing, Trustvr will no� remo�e, or grant tv any ather party the right to remv�e, any timber, minerals �including
<br /> o�l and gasf, coa�, c�ay, scoria, soil, gra►►ei or rock products withvut Lender's prior wrftten consent.
<br /> Remo�al of Impro�ements. Trustor shall not demoiish vr remo�e any Imprn�ements from the Rea� Property withaut
<br /> Lender`s prior written consent. As a conditi�n to the remo�al vf any Impro�ements, Lender may require Trustor to
<br /> make arrangem�nts satisfactory to Lender to replace such lmpro�ements with Impro�ements o# at least equal
<br /> �a�ue.
<br /> Lender's Right to Entsr. Lender and Lender's agents and representati�es may enter upon the Real Property at all
<br /> reasvnable tim�s tv attend to Lender's interssts and t� inspe�t the Rea! Property #ar purposes of Trustvr's
<br /> c�mp�ian�e with the terms and conditions of this Deed of Trust.
<br /> �ornpiiance with Go►►ernmental Requirements. Trus�vr shall prvmp#ly compiy with ail laws, ordinances, and
<br /> regulations, now or hereafter in effect, of all governmental authorities applicab�e tv the use or ❑ccupancy of the
<br /> Property, including wsthout limitativn, the Americans With Disabilities Act. Trustar may contest �n gvod faith any
<br /> such law, ordinance, ❑r regulation and withhold camplian�e during any proceeding, including apprvpriate appeals,
<br /> so long as Trustor has notified Lender in writing prior tv dving so and sa Iong as, in Lender's svle opinivn� Lgnder's
<br /> � interests in the Property are not jeopardized. Lender may require Trustor #o pvst adequate se�urity or a sure#y
<br /> bond, reasvnabiy satisfactv�y ta Lender,ta protect Lender's interest.
<br /> �uty to Protec#. Trustar agrees neither to abandon vr lea�e unattended the Property. Trustor shall do al� ❑#her
<br /> acts, �n addition to thase acts set forth abo�e in�his section, which from the character and use af the Property are
<br /> reas�nably necessary to protect and preser�e the Prvperty.
<br /> TAxES AND LIENS. The fallowing pro�isions relating to the taxes and liens on the Prvperty are part af this ❑eed vf
<br /> Trust;
<br /> Peyment. Trustor shall pay when due tand in ai�e�ents priar to delinquen�y} all taxes, special taxes, assessments,
<br /> �harges �including water and sewer}, fines and impositions le�ied against or on accvunt of the Property, and shail
<br /> pay when due all Claims for wvrk done on vr for ser�ices rendered ar material furnished to #he Property. Trusta�'
<br /> shall maintain the Property free of all liens ha�ing priority o�er or equai#v the interest of Lender under th�s ❑eed o�
<br /> Trust, except for the lien of taxes and assessments not due, except for the Existing Indehtedness referred t❑
<br /> belvw, and except as otherwise pro�ided {n this ❑eed of Trust.
<br /> f�ight to Gontest. Trustar may withhold payment of any tax, assessment, ar claim in cannec#ian wi#h a good faith
<br /> dispute ❑�er the obligation to pay, so Iong as Lender's interest in the Property Es not jeopardized. If a lien aris�s or
<br /> is fil�d as a result of nvnpayment, Trustor shall within fifteen �15f days after the I�en arises or, if a lien is filed,
<br /> within fifteen �15f days after Trustor has not�ce of the fil�ng, secure the discharge of the lien, or if requested by
<br /> Lender, deposit with Lender�ash or a su�#fcient cvrpvrate surety bond or other se�urity satisfactary#a Lender in an
<br /> amount sufficient to discharge the lien p�us any costs and attarneys' �ees, or othsr charges#het cvuld accrue as a
<br /> result�f a foreclosure or sale under the#�en. I n any cvntest,Trustvr sha#I defend itself and Lender and sha#�satisfy
<br /> any ad�ers�judgmen�befare enforcement against the Property. Trustor shall name Lender as an edditional oblige�
<br /> under any surety bond furnished in th� cvntest praceedings.
<br /> E�idence af Paymen�. Trustvr shall upQn demand furnish to Lender satisfactary e�idenc� af payment o#the taxes
<br /> or assessments and shall authorize the appropriate gouernmental official to deli►►er to Lender at any time a w�itten
<br /> statement n#the taxes and assessments against the Property.
<br /> Notice o�Constructi�n. Trustor shall notify Lender at leas� fifteen �15y days befor� any work is commenced, any
<br /> services are furnished, or any materials are supplied to the Property, if any mechanic's lien, rnaterialmen's li�n, or �
<br /> other lien �ould b� asserted on account of the work, ser►►ices� or materials. Trustvr will upvn request of Lender
<br /> furnish to Lender ad�ance assu�ances satisfa�tvey to Lender that Trustor �an and will pay the �ost af such
<br /> imp�o�em�nts.
<br /> PRflPERTY DAMAGE 1NSURANCE. The #ollowing pr��isions relating to insuring the Property are a part of this Deed of
<br /> Trust.
<br /> IlAaintenance af Insurance. Trustor shall pro�ure and mainta�n polici�s of #ire insurance with st�ndard extended
<br /> co�erage endarsements on a fair �alue basis �ar the full insurable �a�ue co�ering al1 Impr��ements ort the Rea�
<br /> Prvperty in an amount suffi�ient to a�vid app#ication �f any coinsurance clause, and with a standard mortg�gee
<br /> clause in fa�or of Lender. Trustar shall aiso procure and maintain cvmprehensi�e general iiability insurence in such
<br /> �o�erage amounts as Lender may request with Trustee and Lender heing named as additivnal insureds in suGh
<br /> �iability insurance pali�ies. Additionally, Trustar shali maintain such other insurance, including but nat limited to
<br /> hazard, business interruptian, and boiler insurance, as Lender may �easanably require. Policiss shalf be written in
<br /> form, amoun#s, cv�erag�s and basis reasonably acceptahle to Lender and issued by a company or campanies
<br /> reasonab�y acceptable to Lender. Trustor, upon request of Lender, ►►vill deli�er to Lender from time tv time the
<br /> poli�ies or certificates of insurance in form satisfiact�ry tv L�nder� including stipulations that co�erages will not be
<br /> cance�led vr diminished wi#hvut at least thirty �3a� days priar written notice to Lender. Each insurance pali�y�Isv
<br /> sha�f include an endorsement pro�iding that cv�erage in fa�or of Lend�r will n�t be impaired in any way by any act�
<br /> amissivn or default o#Trustor or any other person. Sh�uld the Real Property he located in an area design�ted hy
<br /> the Administrator vf the Federa� Emergency Managem�nt Agen�y as a spec�a� flood hazard ar�a, Trustor agcees ta
<br /> �btain and maintatn Federal Flovd �nsurance, if a�ailabl�, for the full unpaid principal balance of the ��an and any
<br /> prior �iens on the prvperty securing the laan, up t� the maximum policy limits set under the Nstianal Flvad
<br /> Insurance Program, or as otherwise required by Lender, and to maintain such insurance for the term of the loan.
<br /> Application o#Proceeds. Trustor shall promptly notify Lender of any Iass or damage to the Property. Lender may
<br /> make proof of lass if Trustor fails �a do so within fifteen �i 5f days of the casual#y. Whsther ar nvt Lender's
<br /> security is impaired, Lender may, at Lender's electivn, recei�e and retain the praceeds o� any insuran�e and apply
<br /> the proceeds to the reducti�n of the Indebtedness, payment ❑f any lien affect�ng the Property, or the restorativn
<br /> and repair of the Property. I'# Lender elects to app�y the proceeds to resto�atian and repair, Trustor shall repair�r
<br />
|