|
2� 17����3
<br /> keep flood insur�nc� �n f�r�e to cvv�r Iosses by f�aod as required by Lender and by �he Nafional Flaad
<br /> �nsurance Ac�af 195�, as amended, and hy regula�ians implementing th� same. Trus�vr further a�rees
<br /> that Lender is nvt and wi11 nat be liab�e for any failure by Trustar vr by any insurer, for wha�eWer reason,
<br /> tv obtain and keep this insurance in fo�ce. Trus�or shalf gi�e wrEtten notiGe ta Lender immedia�ely of any
<br /> �ancellation, term�nation or materia[ madification of any such insurance. If Trus�ar fa�ls �a main�ain the
<br /> co�erag�d�scrib�d ab��e, L.end�r may, �t Lend�r's option, obtain coWer�ge to prot�c�Lender's righ�s in
<br /> the Pr�p�rty accard�ng to th�terms of this trust de�d.
<br /> 3. T❑ keep a11 �uild�ng�, fixtures, attachments, and ath�r impr��emen�s naw �n or h�r�aft�r placed an
<br /> the Rea[ Property accupied and in good rep�ir, ma�ntenance, and c�ndition and �o ne�ther commit nvr
<br /> perm�t any a�fs af waste or any impairmenfi ❑f the Walue of the Property. Trustor shail not remov� ar
<br /> d�rna[isf� �ny improv�ment without priar written appra��[ of the Lender. Trus�or sh�f[ give immediate
<br /> notice fia Lender of any material d�m�g� t� ar consfruc�ivn on o� re[�ted to any af�he Property. Lend�r
<br /> may enter u�on the R�al P�v��rty ta inspect the same ar ta perFvrm any acts authar�z�d herein ❑r in the
<br /> Loan �]acumen�s. Any in�pe�tions, r�ports ❑r sample� candu���d by Lender sha�l be far their av�n use
<br /> and benef�, and Lend�r shal[ n�t be ���uir�d t� disclas��he result�vf any �nspecti�ns tv Trusto�fvr any
<br /> reasan, �eg�rdless o�whe�her Lender h�s dane s� on any oth�r�ccas�an uniess Lender�grees tv do s�
<br /> in a �epara�e wr�t�ng. Trus�ar is re�pansibl� f�r monitaring, �reservrng and inspec�in� th� Property
<br /> independently af Lend�r, and Lender mal�es nv r�presentatian, s�atemen# ar warranty regarding the
<br /> accuracy�f any inspeGti�n, reports �r statemen�s related �v the Praperty's condi�ion, quantity, vr quality
<br /> of any r�a�ure, and Trus�or a�rees �� shall not re�y upon s�a�em�nts rela�ed th�ret� made by a
<br /> r�pres�n��fii�e af L�nd�r.
<br /> 4. Tha�Tru��or is, and shall c�ntinue to be, duly org�ni�e�, �a�idly exi�ting and leg�lly quali�ied �o da
<br /> busin�ss under the [�ws of the sta�es in wh�ch Tru��c�r ❑perates, in c.amplianGe with federal, state and
<br /> IaGal law�or regula�ions,and have legal autharity in such sfates ta condu�t Trustor's business�pera�ivns
<br /> and to own agricuE�ural real estate. IVo change has been made in �he n�m�, ownershi�a, contra[,
<br /> rela�ionship, legai status, �r organiza�ian�l and f�rma�ion d��uments of�ny undersigned s�n�e t�e fime
<br /> any such �nf�rmation w�s last pra�ided fio�.ender.Any borrowing resv[u�ion or similar dvc�ment pro�ided
<br /> t�th� L,�nd�r, wheth�r on L�nder's form or vtherwise, has been execu��d by a!I thos�wit� an �wnership
<br /> interest in the Trustar�s entity and such de�ignat�d signor as set f�rth in the bar�o�ving resalution is duly
<br /> authori�ed ��execute any and all Loan D�cuments on behalf the entity, in�luding this trus�d��d.
<br /> 5.All known saurces af e�cisting or po�en�ial en�iranm�n��l canfamina�ion on or n�ar any Real Proper�y
<br /> own�d ar�vp�rated by Trus��r has b�en fully disclased �� Lender; the op�rati�ns af Tru��or comply, and
<br /> during �he �erm �f this trus� deed will at all times comply in all r�sp�ct�, with a�l environmental ia�vs;
<br /> Trus�or has obt�ined and w�ll main�ain all licenses, permi�s, aufhorizati�ns and regis��ation� required
<br /> under any en�ironmental la�v and necessary for �fs ardin�ry caurse operatr�ns, a11 such enWironmenta�
<br /> p�rmits�re in good standing, and Trus�ar is in cvmpli�r�ce wi�h a[! mat�ri�l terms and c�nditians af such
<br /> en���anmen�al permi��; ne�th�r Trusfi�r nor any vf its pr�s�nt Property or operations is subject t� any
<br /> outst�nding�rvritten ord��f�or�n ar agr��m�nt wi�h any gavernmenfial au�hority vr subject to any judicial o�
<br /> dvcke�ed administra�i�e �roceeding, respecting any en�ironrnental law, en�iranmentaC �laim ar
<br /> hazardous mafierial; th�re ar� no haza�dous mafer�als ar��her candEtEans a�r circumstanc�s e�cis�ing, or�
<br /> arising f�om ap��at�ans prior to the d��e of this trust deed, vtirith respeG�to �ny Property of Trustar �ha�
<br /> would re��on��ly be�xpected to g��e rise to mate�ial en�lranmentai�l�ims. ln addifiion,Trustvr shall hald
<br /> L�nder harmless from �ny liahility fvr environmentai �vas�� or-can�amination vn any Praperty vwn�d vr
<br /> aperated by Trusfor or liability imposed as a cvnsequen�e by reason af Trust�r�s acti��t��s and will def�nd
<br /> and �ndemnify L�nder against all claims, lasses, liabilities, and expenses incurred by L�nd�r as a result
<br /> there�f. This cavenanf wi�l survi�e cancell�tion: expiratii�n �r te�minati�n of this�rus#d�ed.
<br /> �. Each of�he faliav�ing sh�[[�onstrtute an �v�nt af�efaul�:
<br /> a. F�ilur� t� ma�e any payment wh�n due under�ny Loan Da�um�nt or o�ther Dbliga�i�n secur�d by
<br /> �his trust deed.
<br /> b. Failur� to pay any li�ns, judgments, assessments, faxes, rents, fees, ar charges �r main�ain any
<br /> insurance an the Pr�p�rty, buildings, fixtures, a�tachm�nts, or impro�ements as p�o�ided in �his t�ust
<br /> de�d, ❑r in any vth�r Laan D�cument.
<br /> �.Any breach ar material mi�r�presen�a��on of any t�rm, a�reemen�, cov�nanf, cvndit«n, certif ca�ian,
<br /> represen�atlan ar wa�ranty as pr��ided in�his tru��d�ed, or any o�her Loan Do�umen�.
<br /> d. Sale, �ransfer, or �an�reyance �f th� Property des��rb�d h�r�in wi�h�u� pri�r wri��n consen� o�
<br /> Lender.
<br /> App#:54��8Q4�; G1F#:�3��5?; Note#:3��81�$ �20}�S Legal Doc.Date:1�eGemb�r 28,�D1�
<br /> F�RM 5�'[1,Trust Deed and Assi�nment of R�nts Rage�vf 7
<br />
|