200108683 - Laserfiche WebLink

Browse

10. Trustee' The Trustee may resign at any time without cause, and Lender may at any time and without cause appoint a successor or substitute Trustee' Trustee shall not be liable for any loss or damage unless due to actionable negligence or willful misconduct, and shall not be required to take any action in connection with the enforcement of this Deed of Trust unless indemnified, in writing` for all costs, compensation or expenses which may be associated therewith. In addition. Trustee may become a purchaser at any sale of the Property (judicial or under the power of sale granted hereInh postpone the sale of all or any portion of the property, as provided by law` or sell the Property as a whpIe` or in separate parcels or Ioto- 11- Future Advances. Upon request of Borrower` Lender may` at its option, make additional and future advances and readvanceo to Borrower. Such advances and readvanceo, with interest thereon_ shall be secured by this Deed of Trust. At no time shall the principal amount of the indebtedness secured by this Deed of Trust. not including sumo advanced to protect the security of this Deed of Trust` exceed the original principal 42 5O0 00 amount stated herein- or whichever is greater' 12- Hazardous Substances. The terms "hazardous waste", ` 01 "hazardous substance". "disposal". "release" and "threatened " go reIeaue^` as used in this Deed of Trust` shall have the same CC meanings as set forth in the Comprehensive Environmental, ^ 00 Response, Compensation. and Liability Act of I980_ amended, 43 U' CZ S. C. Section 9601` et sea' (^CERCLA^)` the Superfund Amendments and Reauthorization Act of 1986, Pub- L. No- 99-499 ("SARA"). - the Hazardous Materials Transportation Act- 49 U.S.C. Section ' - l801- et seq '~ the Resource Conservation and Recovery Act ~ 49 U'S- C- Section 6901` et sea'` or other applicable state or Federal laws, rules or regulations adopted pursuant to any of the foregoing. Borrower represents and warrants to the Lender that,-,T a- During the Period of Borrower's ownership of the Property, that there has been no use` generation, manufacture, storage, treatment. disposal. release or threatened release of any hazardous waste or substance by any person on, under` or about the Property. b- Borrower has no knowledge of_ or reason to believe that there has been` except as Previously disposed to and acknowledged by Lender in writing W any use_ genera±ion_ manufacture, siuraw, treatment` disposal, release` or threatened release of any hazardous waste or substance by any prior owners or occupants of the Property or (H) any actual or threatened litigation or claims of any kind by any Person relating to such matters. c' Except has Previously disclosed to and acknowledged by Lender In writing. M neither Borrower nor any tenant, contractor, agent or other authorized user of the Property shall use, generate` manufacture` sore_ ±rea±` dispose of, or release any hazardous waste or substance on_ under or about the Property and (Ii) any such activity shall be conducted in compliance with aIl applicable federal, state_ and local laws` regulations and ordinances, including without limitation those Iaws, regulations., and ordinances described above' Borrower authorizes Lender and its agents to enter upon the Property to make such inspeotiona and tests as Lender may deem appropriate to determine compliance of the Property with this section of the Deed of Trust. Any inspections or testa made by Lender shall be for Lender"� puruoses only and shall not be construed to create any responsibility on the part of Lender to Borrower or to any other person' The representations and warranties contained herein are based on Borrowers due diligence in investigating the Property for hazardous waste. Borrower hereby` a' releases and waives anY fu±ure claims against Lender for indemnity or contribution in the event Borrower become liable for cleanup or other costs under any such laws, (b) agrees to indemnify and hold harmless Lender against any and all claims. losses, liabilities, damaqes, uenalties` and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this section of the Deed of Trust or as a consequence of any use` generation` manufacture` otoraqe_ diaposaI` release or threatened release occurring prior to Borrower's ownership or interest in the Property, whether or not the same was or should have been known to borrower. The provisions of this section or the Dead of Trust_ including the obligation to indemnify_ shall survive the Payment of the indebtedness and the satisfaction and