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DEED OF TRUST 200007036
<br />(Continued) Page 2
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "and- deficlency' law, or any other law
<br />which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise entitled to a
<br />claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by exercise of a power of
<br />sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Dead of Trust, Borrower shall pay to Lender all Indebtedness secured by
<br />this Deed of Trust as it becomes due, and Borrower and Trustor shad strictly perform all their respective obligations under the Note, this Dead of
<br />Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Truster agree that Borrower's and Trustees possession and use of the
<br />Property shall be governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession and control of the Property; (2)
<br />use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Truster shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of Trustees ownership of
<br />the Property, there has been no me, gene ration, manufacture, storage, treatment, dlsposo, release -air threatened release of any Hazardous
<br />Substance by any person on, under, about or from the Property; (2) Truster has no knowledge of, or reason to bedew that there has been,
<br />except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any
<br />use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or
<br />from the Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by any
<br />person relating to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Trustor nor
<br />any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any
<br />Hazardous Substance on, under, about or from the Property; and (b) any such activity shad be conducted in compliance with all applicable
<br />federal, state, and local laws, regulations and ordinances, Including without Imitation all Environmental Laws. Trustor authorizes Lender and
<br />Its agents to enter upon the Property to make such inspections and tests, at Trustees expense, as Lender may deem appropriate to
<br />determine compliance of the Property with this section of the Deed of Trust. Any inspections or tests made by Lender shad be for Lender's
<br />purposes orgy and shad not be construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The
<br />representations and warranties contained herein are based on Trustees due diligence in investigating the Property for Hazardous
<br />Substances. Trustor hereby (1) releases and waives any future calms against Lender for indemnity or contribution in the event Trustor
<br />becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnity and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach
<br />of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened
<br />release occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have been known to Truster.
<br />The provisions of this section of the Deed of Trust, Including the obligation to indemnify, shad survive the payment of the Indebtedness and
<br />the satisfaction and reconveyance of the den of this Deed of Trust and shad not be affected by Lender's acquisition of any Interest in the
<br />Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Truster shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to
<br />the Property or any portion of the Property. Without 11mill fg the generality of the foregoing, Trustor will not remove, or grant to any other
<br />party the right to remove, any limber, minerals (including oil and gas), coal, day, scoria, sod, gravel or rock products without Lender's prior
<br />written consent.
<br />Removal of Improvements. Trustor shad not demolish or remove any Improvements from the Real Property without Lender's prior written
<br />consent. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory to Lender to
<br />replace such Improvements with Improvements of at least equal value.
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable rimes to
<br />attend to Lender's interests and to inspect the Real Property Mr purposes of Trustees compliance with the terms and conditions of this Deed
<br />Of Trust.
<br />Compliance with Governmental Requirements. Truster shad promptly comply with ad laws, ordinances, and regulations, now or hereafter
<br />in effect, of all governmental authorities applicable to the use or occupancy of the Property, including without limitation, the Americans With
<br />Disabilities Act. Trustor may contest in good faith any such law, ordinance, or regulation and withhold compliance during any proceeding,
<br />Including appropriate appeals, so long as Trustor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion,
<br />Lender's interests in the Property are not jeopardized. Lender may require Truster to post adequate security or a surety bond, reasonably
<br />satisfactory to Lender, to protect Lender's interest.
<br />Duty to Protect. Trustor agrees neither to abandon nor leave unattended the Property. Trustor shad do ad other ads, in addition to those
<br />acts set forth above in this section, which from the character and use of the Property are reasonably necessary to protect and preserve the
<br />Property.
<br />TAXES AND LIENS. The following provisions relating to the taxes and dens on the Property are part of this Deed of Trust:
<br />Payment. Truster shad pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including water
<br />and sewer), fines and impositions levied against or on account of the Property, and shad pay when due ad claims for work dorm on or for
<br />services rendered or materiel furnished to the Property. Trustor shad maintain the Property free of ad Mena having priority over or equal to the
<br />interest of Lender under this Deed of Trust, except for the Nan of taxes and assessments not due and except as otherwise provided in this
<br />Deed of Trust.
<br />Right to Contest. Trustor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the obligation
<br />to pay, so long as Lender's interest in the Property is not jeopardized. If a Nan arises or is filed as a result of nonpayment, Trustor shad within
<br />fifteen (15) days after the Nan arises or, N a Non is filed, within fifleen (15) days after Trustor has nodes of the filing, secure the discharge of the
<br />Non, or N requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an
<br />amount sufficient to discharge the Non plus any costs and attorneys' fees, or other charges that could accrue as a result of a foreclosure or
<br />sale under the Nan. In any contest, Trustor shall defend itself and Lender and shad satisfy any adverse Judgment before enforcement against
<br />the Property. Trustor shad name Lender as an additional obNgea under any surety bond furnished in the contest proceedings.
<br />Evidence of Payment. Truster shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall
<br />authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against the
<br />Property.
<br />Notice of Construction. Trustor shad not8y, Lender at least Often (15) days before any work is commenced, any services are furnished, or
<br />any materials are supplied to the Property, N any mechanic's Men, materiatmen's ion, or other Non could be asserted on account of the work,
<br />services, or materials. Trustor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Trustor can and
<br />will pay the cost of such improvements.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to Insuring the Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. Trustor shad procure and maintain policies of We insurance with standard extended coverage endorsements on
<br />a fair value basis for the full insurable value covering all Improvements don the R4a1 Property in an amount sufficient to avoid application of
<br />any coinsurance clause, and with a standard mortgagee clause in favoi of Lendst. Trustor shall also procure and maintain comprehensive
<br />general liability insurance in such coverage amounts as Lender may request with trustee and Lander being named as addidoral insureds in
<br />such liability insurance policies. Additionally, Trustor shad maintain such other insurance, including but not limited to hazard, business
<br />interruption, and boiler insurance, as Lender may reasonably require., Policies shad be written in form, amounts, coverages and basis
<br />reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Trustor, upon request of
<br />Lender, will deliver to Lender from time to lime the policies or certificates of insurance in form satisfactory to Lender, including stipulations
<br />that coverages will not be cancelled or diminished without at least thirty (30) days prior written notice to Lender. Each insurance policy also
<br />shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act, omission or default of
<br />Trustor or any other person. Should the Real Property be located in an area designated by the Director of the Federal Emergency
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