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<br />89-- 101550
<br />Lander to protect the security of thee Note; (c) the performance of ail covenants and agreements of Trustor sat forth herein; and (d) al)
<br />present and future indebtedness and obligations of Borrower (or any of them it more than one) to Lender whether direct indirect.
<br />absolute or contingent and whether arising by note, guaranty), overdraft or otherwise. The Note, this Deed of Trust and any and all
<br />other docuents that secure the Note or otherwise executed in connection therewith, including without limitation guarantee% security
<br />agreements and assignments of leases and rents, shall be referred to herein as the "Loan instruments
<br />Trustor covenants and agrees with Lender as follows:
<br />1. Payment of Indebtedness. All indebtedness secured hereby shati be pad when due.
<br />2. TiW, Trustor is the owner of the Property, has the right and autharitV to convey the Progeny, and warrants that the lien
<br />created hereby iz�,a first and prior lien on the Property, except for lians and encumbrances set forth by Trustor in writing and
<br />delivered to Lender before execution of this Deed of Trust, and the execution and delivery of this Deed otTrust does not violateany(
<br />contract or other obligation to which Trustor is subject
<br />3, Tana, Assessments. To pay before delinquency all tares. special assessments and all other charges against the Property
<br />-now or hereafter lovlod..
<br />4;l insurance, To keep the Property insured agaffist.damage py. tiro, hazards included within the term. "extended wverage', and
<br />such othcrr, ha7arda: a :i aridtft
<br />may raquilm in amounts and with companies acceptable to Lender, naming Lender as an additional.
<br />narni?it! +r p(i ►fad ;,wllhtip .- payable to the fmndtic.lh case of loss under such policies, the Lender is authorized to act; Wt _=le Y and
<br />: f f►tht( iff(nt irapfl cid ihl. lie , munder and shall have the option of applying all or part of the insurance proceeds (i) to any inde_bWnm
<br />J' seduikd. frart6'y and in such order as Lender may determine, (it) to the Trustor to be used for the repair or restoratiorr.of the Propettyi
<br />or (iii) for" other purpose or object sailsfactory to lender without affecting the lien of this Deed of Trust for the full amount secured
<br />,i -`, • hereby before such payment ever took place. Any application of proceeds to indebtedness shall not extend or postpone the due
<br />date of any payments under the Note, or cure any default thereunder or hereunder.
<br />�. Esaow. Upon written demand by Lender, Trustor shall pay to Lender, in such manner as Lender may designate, sufficient
<br />sums to enable Lender to pay as they become due one or more of the following: (r) all taxes, assessments and other charges against
<br />the Property, (ii) the premiums on the property insurance required hereunder, and (ill) the premiums on any mot gage insurance
<br />required by Lender.
<br />6. Maintenance, Repairs and Compliance with Laws. Rrustor shall keep the Property in good condition and repair; shall
<br />promptly repair, or replace any improvement which may t-- -4amaged or destroyed: shall not commit or permit any waste: or
<br />deterioration of the Property; shall not remove. demolish or substantially alter any of the improvements on the Property; shai.,. -, ot,
<br />commit: suffer or permit any act to be done in or upon the Property in violation of any law, ordinance, or regulation; and shall pail a
<br />promptly discharge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed orassessed against Zia
<br />Property or any part thereof.
<br />7. Eminent Domain. Lender is hereby assfgred all cr_--.�roensation, awards, damages and other payments war elief (hereina�v
<br />"Proceeds ") in connection with condemnation c- other taking of the Property or part thereof,. or for conveyance in lieu of
<br />condemnation. Lender shall be entitled at ,rs clp "W to commence, appear in and prosecute it i`:_- can name any action or
<br />proceedings, and st•yrn also be entitled to mate. airy compromise or settlement in connection with s�� r Wng or damage. In the
<br />event any portion of the Property is so taker, or •:;anaged, Lender shall have the option, ur, its sole and absolute discretion, to apply
<br />all such Proceeds, after deducting all cysts and expenses incurred by it in connection with such Proceeds, upon any
<br />: indebtedness secured hereby and in such order "as Le:%de- may determine, or to apply all such Proceeds, after such deductions, to
<br />the restoration of the Property upon such concl'ln•ns as Lerier may determine. Any application of Proceeds to indebtedness shat)
<br />not extend or postpone the due date of any payments under !nor Note, or cure any default thereunder or hereunder. Any unapplied
<br />funds shall be paid to Trustor.
<br />8. Performances by Lender- Upan the occurrence of a:, E.,ent of Default hereunder, or it any act is taken or legal proceeding
<br />commenced which materially affects Lender's interest in the Property, Lender may in its own discretion, but without obligation to do
<br />so, and without notice to or demand upon Trustor and without releasing Trustor from any obligation, do any act which Trustor has
<br />agreed but fails to do and may also do any ot'ner act it deems necessary to i?rotect the security hereof: Trustor shall, immediately
<br />upon demand therefor by Lender, pay to Lend,:e w t costs and expenses incur '�Zd 3nd sums expended by Lender in connection with
<br />the exercise by Lenderof the foregoing rights. together with interest thereon at �;e default rate provided in the Note, which shall be
<br />adde(t m 11P). Indebtedness secured hereby Lender shall not incur any liability ne>rause of anything it may do or omit to do
<br />hereunder: '
<br />9. Hazardous Mall4 ials, Trustor shall keep; t*te Property in compliaize, wah all ;) :piv^able laotat..ardinances and regulations
<br />relating to industrial. 'r; ;.giene or envlronmentiv.!, pr7tection (collectively le`emed to ~.e. sin as "Envy :Qnmental Laws "). Trustor shat;
<br />keep the Property free *nom all substances deer.,.,ed to be hazardous or toxic under art t. s." Mronmental Laws (collectively referred to
<br />herein as "Hazardous Materials "). Trustor hereby warrants and represents to Lennox TT °.there are no Hazardous Materials on or
<br />under the Property. Trustor hereby agrees to indemnify and hold harmless Lender, its g!vaaors, officers, employees and agents, and
<br />any sui vxes3ors to Lerder's interest, from and against any and all claims. damages, fosses and liabilities arising in connection w h
<br />the presence, use. dt,g losal or transport of•ar. a oviazardous Materials c ?. wider, from or about the Property. THE FOREC004
<br />WARRANTIES ANC REPRESENTATIONS, AND YLaUSTOR'S OBLIGATIONS PURSUANT TO THE FC R EGGING INDEMNITY, S4AI -1
<br />SURVIVE RECONVEYANCE OF THIS DEED Or TRUST.
<br />10. Assignment of Rants. Trustor hereby assigns to Lender the rents, issues and ;::-obis of the Property, pra,,,i, ad that Trustor
<br />shall, until the occurrence of an Event of Default hereunder, have the right to collect 'r: retain such rents. issues and profits as they
<br />become due and payable. Upon the occurrence of an Event of Default. Le =e .rite •,. (-:;:her in person or by agent, v►ith or without
<br />bringing any action cr proceeding, or by a reccr.or appointed by a court and Uv.Tnout regard to the adequacy of its security. e•trter
<br />upon and take possession of the Property, or any r art thereof, to its own narrie or in the name of the Trustee, and do any acts N° ch :t
<br />deems necessary or desirable to preservethe earl :e. marketability or rentability of the Prrorrry, or any part thereof or interesttnerem.
<br />increase the income therefrom or protect the security hisid -'1.f and, with or without taxing. possession of the Property, sue for or
<br />otherwise collect the rents, issues and profits !hereof, including those past due and upp3;d, and apply the same, toss costs and
<br />expenses of operation and collection including attorneys' fees. upon any indebtedness secured hereby, all in such order as Lender
<br />may determine. The entering upon and taking possession of the Property, the collection of such rents. issues and profits and the
<br />application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done In
<br />response to such default or pursuantto such notice of default and, notwithstanding the cn, nt.nuance in possession of the Property ar
<br />the collection, receipt and application of rents, issues or profits, and Trustee and Lender shall be entitled to exercise every right
<br />provided for in any of the Loar.lnstruments or bylaw upon occ urrence of any Event of Default inr ludir -g w,thoat l,nutat,on the right
<br />to exercise the power of sale Further, Lender's rights and remedies under this paragraph shall be cumulative with. and in no v ay a
<br />limitation on, Lendei s rights and remedies under any assignrrientof leases and rentS recorded against the Property Lender, Tf usthe
<br />and the receiver shall be liable to account only for those rents actually received.
<br />I 1 Events of Debutt. The following shall constitute an Event of Default under th•,s Deed of Trust
<br />(a) Failure to. pay any installment of principal or interest of any other sum secured hereby when due:
<br />(b) A breach of or default under any provision contained rn the Note, this Deed of Trust, any of the Loan Instruments, or any
<br />other lien or encumbrance upon the Property,
<br />(c) A writ of execution or attachmentor any similar p!-Ocess shall be entered against Trustor which shall becorne a lien or,
<br />the Property or any portion thereof or interest therein.
<br />(d) There shall be filed by or against Trustor or Borrower an action .irder any pre; :emit ,, future federal, state or other
<br />statute, law or regulation relating to bankruptcy. insalveney or ache► relief for debtors n• there s�,a:l be appointed any trustee.
<br />receiver or nquidator of Trustor or Sevrower or of all or any part of the Property. err ire rents issues or profits thereof, orTfustor
<br />of Borrower shall make any general ass:gnrr,eni for the benefit of creditors.
<br />(e) The swe. trar -sler. 'ease. assigr:,:Ent. conveyance or further enc u!rt,!i:r, o e,! ri or ,any part of or any .ntereSt in the
<br />Preperfy, e;lner vo'.un1a*:l r of without the express written conserl u? tender r)mv,ded that Trustor sraii t*e
<br />verrwttedtoexeculea lease 0V Pr opeertyt t3tdGest*1 Lontai naroptr orriUCr.,' Cr, t9Cii^ dtrCtE !`O.`thc•,d.'Fst•jt(•xtPP
<br />one year.
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