201702327 - Laserfiche WebLink

Browse

2� 17�2327 DEED �F TRUST Laan Na: '1 a'13�38�� ontinued� Page 5 Cvmpliance W�th Laws. Trustar warrants that �he Prop�rty and Trustar's use af the Property complies with all existing applicable laws, ardinances, and regu�atians of go�ernmental authorities. 5urvi�al �f Representatians and Warran#ies. All representations, warranties, and agreements mad� by Trustar in this Deed ❑f Trust shall su��e th� execution and deliWery af this aeed ❑f Trust, shall be continuing in nature, and shal! remain in fu�l force and effe�t until su�h time as Barrower's indebtedn�ss shall he paid in ful�, ExISTIN� 1NDE6TEDNESS. The following �ro�isions concerning Existing Indebtedness are a part af this Deed of Trust: Existing Lien. The lien of this Deed af Trust s�cu�ing the Indebtedness may be secvndary and inferiar t❑ an existing lien. Trustor expressly co�enants and agrees to pay, ❑r see t❑ the payment af, the Existing Indebtedness and t❑ pre�ent any default an such indebtedness, any default unde�the instruments e�idencing su�h indebtedness, �r any default under any se�urity documen�s for such ind��tedness. No IVlodifi�ation. Trustar shall not enter �nto any agreemen� with the holder of any martgage, deed of trust, or other security agreement which has priority ❑�er this Deed ❑f T�ust by which that agreement is modified, amended, extended, ❑r renewed wit�o�rt the prior wrftten consent ot Ler�der. Trustnr shall neither request n�r accept any future ad�ances under any such security agre�ment without the priar written consent of Lender. C�NDEMNATIQN. The �allflwing pro�isians relating to condemnativn pr�ceedings are a pa�t af this Deed af Trust: Praceedings. If any proceedEng in condemnation is �iied, Trust�r shakl pramptly natify Lender in writing, and Trustor shall promptly take such steps as may be ne�essary to defend the action and obtain the award. Trustar may be ihe naminal party in such prace�d�ng, but Lender shall be entitled to participate in the praceeding and t❑ b� rep�esented in the proce�ding by counsel ❑f its awn choEce, and Trustor will deli�er vr �ause to be deEi�ered tn Lender su�h instruments and documenfati�n as may be requested hy Lender �ram time to time to permit such parti�ipation. ApplicatEan af Net Rrviceed�. If all or any part of the Prnperty i� cvndemned by eminent damain proceedings or by any proceeding or purchase in fieu of condemnation, Lender may at its electian require that all or any portian ❑f the net proceeds of the award be applied to the Indebtedness ❑r the repair or �estoration of the Praperty. The net prviceeds o� the award shali mean the award after payment of all r�asonable costs, expenses, and attvrneys' �ees incurred by Trustee or Lender in connectian with the �ondemnation. IMP�SITI4N OF TA3CES. FEES AND �HARGES BY GOVERNMENTAL AUTHDRITIES. The following pro�isions r�la�ing to go�ernmental tax�s, #ees and charges are a part nf this Deed o�Trust: Current Taxes, Fees and Charges. Upon request by Lender, Trustor shail execute such documents in additian to this ❑eed o� Trust and take whate�er other a�tian is requested by Lender ta perfect and cantinue Lender's fien on the Real Praperty. Trustor shafl reimburse Lender far all taxes, as described below, tvgether with all expenses incurred in �ecording, pertecting ❑r continuing this Deed of Trust, including without limitation all taxes, fees, d��umentary stamps, and ❑ther charg�s for re�ording or re�istering this De�d o�Trust. Taxes. The fo�low�ng shall canstitute taxes �o which �his �ection applies: �1 y a specific tax upon this type af Deed ❑f Trust or upon all or any part ❑f the lndebtedness secured by �his ❑e�d of Trust; �2y a specific tax an Borrower which 6�rrower is authar�zed ❑r required to deduct from payments on the Inde�tedness secured by this type ❑� Deed af Trust; t3� a tax on this type of Deed ❑f T�ust chargeable against the Lender or th� holder ❑f the Note; and t4} a specitic tax on all or any portian af the indebtedness ar on payments ❑f principai and interest made by Borrower. Subsequent Taxes. 1f any tax to which this section applies is enacted subsequent to the date of this De�d flf Trust, this e�ent sha�l ha�� the same effect as an E�ent of De�aul�, and Lender may exercise any ar al! af its a�aiiable remedies #ar an E�ent of De�ault as prv�ided below unless Trustor either ��y pays the tax befare it becom�s delinquent, or �� contests the tax as pro�ided abo�e in the Taxes and Liens section and deposits with Lender cash ❑r a sutficienfi �orporate surety bond or other se�urity satisfa�tory ta Lender. SECURITY AGREEIUIENT: FINANC�NG STATEMENTS. The follow�ng pro�isians relating to this Deed af Trust as a security agreement are a part of this Deed of Trust: Se�ur�ty Agreem�nt. This instrumen� shall canstitute a Security �4greement t❑ the extent any of the Property �onstitutes fixtures, and Lender sha�l haU� ail of the rights of a secured party under the Uniform Commercia� Code as amended from time t� time. Security Interest. Upon request �y Lender, Trustar shall take whate�er activn E5 requested by Lender to perfect and continue Lender's security interest in the Rents and Personal P�operty. In addition to recording this Deed ot Trust in ihe rea! praperty records, L�nder may, at any time and without further authorizatian from Trustor, file executed counterparts, copies or reproducti�ns of this ❑�ed vf Trust as a financing statement. Trustar shall reimburse Le�der tQr a1� exper�ses incurred in perte�ting �r cant�nuing th�s security interest. Upan detault, Tru�tor shall not rema�e, se�e� or detach the Personal Praperty from the Praperty. Upon defauft, Trustor shall assem�ie any Personal Property nat affixed to the Praperty in a manner and at a place reasanabCy con�enient to Trustor and Lender and make it a�aifable to Lender within three �3� days after receipt flf w�itten demand from Lender to the extent permitted by applicable law. Addresses. The mailing addresses ❑f Trustor �debtor� and Lender �secured partyy fram which information