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201703789
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Last modified
7/3/2017 5:40:37 PM
Creation date
6/6/2017 3:38:00 PM
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DEEDS
Inst Number
201703789
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6.1 Compliance with Laws & Restrictions. All existing Improvements and any Improvements hereafter placed on <br />the Land are and will be located within the boundary lines of the Land. All appurtenant easement areas are and shall <br />remain free from encroachments. The Mortgaged Property complies with, and will continue to comply with, all <br />laws applicable to the Mortgaged Property, including without limitation all applicable building, zoning, subdivision <br />and land use statutes, ordinances, codes, rules, regulations and orders and all covenants and agreements of record. <br />Trustor will not, and will not permit any tenant or other occupant of the Mortgaged Property to, use the Mortgaged <br />Property in any manner that violates any state or federal law. No further permits, licenses, approvals, variances, <br />public hearings or governmental orders or consents are necessary for the operation of the Mortgaged Property for its <br />intended purposes or for the construction of any planned Improvements. <br />6.2 Accuracy of Information. All information, certificates or statements given to Beneficiary by or on behalf of <br />Trustor in connection with or pursuant to any of the Loan Documents or the loan facility evidenced thereby will be <br />true and complete when given. <br />6.3 Common Interest Community Provisions: <br />(a) Trustor shall timely perform all of Trustor's obligations under all laws and documents establishing or <br />governing the condominium, horizontal property regime or common interest community of which the Premises <br />is a part ( "Condominium ") or the Condominium's Owner's Association ( "Owners Association "), including <br />without limitation any condominium declaration, horizontal property declaration, master deed, articles of <br />incorporation or bylaws of the Condominium or the Owners Association ( "Condominium Documents "), and <br />shall pay, when due, all dues and assessments imposed pursuant to the Condominium Documents. <br />(b) Trustor shall take reasonable actions to ensure that the Owners Association maintains public liability and <br />hazard insurance policies acceptable in form, amount and extent of coverage acceptable to Beneficiary. <br />Trustor shall give Beneficiary prompt notice of any lapse in required insurance coverage. In the event of a <br />distribution of hazard insurance proceeds in lieu of restoration or repair following loss to the Premises, <br />whether to a Unit or Units or to common elements, any proceeds payable to Trustor shall be paid to <br />Beneficiary for application to the Note, with any excess paid to Trustor. <br />(c) Compensation to be paid Beneficiary for a taking of the Premises as provided in Deed of Trust includes <br />any compensation paid for the Premises, whether for the Unit(s) or for any common elements. <br />(d) Trustor shall not, except after notice to Beneficiary and with Beneficiary's prior written consent: <br />(1) Partition or subdivide the Premises or consent to a change in the undivided percentage interest in, or <br />a conveyance of, the common elements appertaining to the Unit(s); <br />(2) Consent to the abandonment or termination of the Condominium, except for abandonment or <br />termination required by law in the case of substantial destruction by fire or other casualty or in the case <br />of a taking by condemnation; <br />(3) Consent to any amendment to any provision of the Condominium Documents; or <br />(4) Consent to any action which would have the effect of rendering the public liability insurance <br />coverage maintained by the Owners Association unacceptable to Beneficiary. <br />(e) Trustor irrevocably appoints Beneficiary as proxy, with full power of substitution and revocation, for the <br />term of Deed of Trust, upon the occurrence of any event of default to exercise Trustor's rights to attend <br />meetings, vote, consent to and/or take any action with respect to the Condominium or the Owners Association <br />as fully as Trustor might do. Beneficiary has not and is not assuming any obligation of Trustor with respect to <br />the Condominium. Beneficiary shall not have any liability to Trustor for any vote cast by Beneficiary or for <br />any failure by Beneficiary to cast a vote and Trustor releases Beneficiary from any such liability. <br />04 -004 C us bancorp 2013 (rev. 1.9 - 05/2017) <br />ARTICLE VII. MISCELLANEOUS <br />Page 7 <br />201703789 <br />In addition to all other miscellaneous provisions under the Loan Documents which are expressly incorporated as a <br />part of the Deed of Trust, the following provisions will also apply: <br />7.1 Term of Deed of Trust. The Deed of Trust shall continue in full force and effect until the Deed of Trust is <br />released. <br />285241, vers. 3 <br />
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