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09-08-2000 20-6009324 DEED OF TRUST Page 2
<br />Loan No 259,1;0 (Continued)
<br />Beneficiary. The word "Beneflciary" means EXCHANGE BANK, its successors, and assigns. EXCHANGE BANK also Is referred to as "Lender"
<br />In this Deed of Trust.
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without limitation all
<br />assignment and security interest provisions relating to the Personal Property and Rents.
<br />Guarantor. The word "Guarantor" means and includes without limitation any and all guarantors, sureties, and accommodation parties in
<br />connection with the Indebtedness.
<br />Improvements. The word "Improvements" means and includes without limitation all existing and future improvements, buildings, structures,
<br />_ mobile: homes affixed on the Real Pro party,.fadNties, additions, replacements and other corretruction on the Real Properly.
<br />Indebtedness. The word "Indebtedness" means all principal and interest payable under the Note and any amounts expended or advanced by
<br />Lender to� discharge obligations of Trustor or expenses incurred by Trustee or Lender to enforce obligations of Trustor under this Deed of Trust,
<br />together with interest on such amounts as provided in this Deed of Trust.
<br />Lender. The word "Lender" means EXCHANGE BANK, its successors and assigns.
<br />Note. The word "Note" marts the Note dated September &,•2000, In the principal amount of $76,325.67 from Trustor to Lender,
<br />together with all renewals, extensions, moditaflons, refinancings, and substitutions for the Note. The maturity date of this Deed of Trust is
<br />November 1, 2004.
<br />Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter
<br />owned b Trustor, and now or hereafter attached or affixed to the Real Property;. together with all accessions, parts, and additions to, all
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<br />Property. The word "Property" means collectively the Real Property and the Personal Property.
<br />Real Property. The words "Real Property" mean the property, Interests and rights described above in the "Conveyance and Grant" section.
<br />Related Documents. The words "Related Documents" mean and include without limitation all promissory notes, credit agreements, loan
<br />agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, and all other Instruments, agreements and
<br />documents, whether now or hereafter existing, executed in connection with the Indebtedness.
<br />Rents. The word "Rents" means all present and future rents, revenues, income, Issues, royalties, profits, and other benefits derived from the
<br />Property.
<br />Trustee. The word "Trustee" means EXCHANGE BANK and any substitute or successor trustees.
<br />Trustor.. The, word '"Trustor" means any and ail persons and entities executing this Deed of Trust, including without• limitation all Trustors named t
<br />above.
<br />THIS, DEED OF TRUST, INCLUDING` THE, ASSIGNMENT OF 'RENTS'AND THE SECURITY' INTEREST` IN TF18 RENTS AND PERSONAL
<br />PROPERTY, 19 GIVEN TO SECURE (1) PAYMENT OF THE "INDEBTIEDRESS AND' (2) PERFORMANCE OF ANY AND ALL OBLIGATIONS OF
<br />TRUSTOR UNDER THE NOTE, THE RELATED DOCUMENTS,'AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED
<br />ON THE FOLLOWING. TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by this Deed
<br />of Trust as they become due, and shall strictly and in a timely manner perform all of Trustoes obligations under the Note, this Deed of Trust, and the
<br />Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. _ Trustor agrees that Trustoes possession and use of the Property shall be governed by
<br />the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (a) remain in possession and control of the Property, (b) use,
<br />operate or manage the Property, and (c) collect any Rents from the Property.
<br />— ` .: n orm au repas, i acement9, and mantenance � -
<br />to pre ! arvii•tis- �Wi.. - - 2• ,'v_,
<br />Hazardous Substances. The terms "hazardous waste " "hazardous substance," "disposal," "release," and "threatened release," as used In this
<br />Deed of Trust, shall have the same meanings as set forth in the Comprehensive Environmental Response, Compensation, and Liability Act of
<br />1980, as amended, 42 U.S.C. Section 9601, at seq. ("CERCLAI, the Superfund Amendments and Reauthorization Act of 1986, Pub. L. No.
<br />99-499 ("SARA', the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, at seq., the Resource Conservation and Recovery Act,
<br />42 U.S.C. Section 6901, at seq., or other applicable state or Federal laws, rules, or regulations adopted pursuant to any of the foregoing. The
<br />terms "hazardous waste" and "hazardous substance" shall also Include, without limitation, petroleum and petroleum by- products or any fraction
<br />thereof and asbestos. Trustor represents and warrants to Lender that: (a) During the period of Trustoes ownership of the Property, there has
<br />been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any hazardous Waste or substance by any
<br />parson bn, under, about or from the Property, (b)Trusbr has no knowted¢e of; or'reaso t6 believe that there has been; except as previously
<br />disclosed to and acknowledged by Lender in writing, (1) any use,igeneration, manufacture, storage, b* itiont,•disposal; release, orthreatened
<br />release of any hazardous waste or substance on; under, about or from the Property by arty prior owners'or occupants of the Property or (il) any
<br />actuar ot'thrddWned litigation or, claims of any kind bit any person relating to such; matters;' and" as previously disclosed . tb' and
<br />or
<br />acknowledged by Lender in writing, (t) neither Trustor nor any tenant, contractor, agent 'other authcrized user of the Property shall use,
<br />generate, manufacture, store, treat,: dispose: of, or release any hazardous waste: or substance on, .under, about or from the Property and (ti) any
<br />such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and ordinances, Including without
<br />limitation those laws,` regulations, and ordinances described above. Trustor authorizes Lender and its agents to enter upon the. Property to
<br />'make such Inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property with this
<br />section of the Deed of Trust. Any Inspections or tests made by Lender shall be for Lender's purposes only and shall not be construed to create
<br />any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and warranties contained herein are
<br />based on Trustoes due diligence in Investigating the Property for hazardous waste and hazardous substances. Trustor hereby (a) releases and
<br />waives any future claims against Lender for Indemnity or contribution in the event Trustor becomes liable for cleanup or other costs under any
<br />such laws, and (b) agrees to indemnify and hold harmless Lender against any and all claims, losses, liabilities, damages, penalties, and
<br />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
<br />consequence of any use,_ generation, manufacture, storage, disposal,. release or threatened release of a hazardous waste or substance on the
<br />The provNi_ of this secttcm of the..Dssd •T» t,,, .the obligation to Indemnify, shall stXviv v#ha
<br />payment of hie
<br />p : al nt3 "ftatf o�rA recahveyance of the lien of this of Trust and shalt not 141 tlected try 1 eratter's acqufttttddkt of any
<br />interest in-the PrcWorty,- matter by_kxgplosurevsar othorNtse
<br />llhtiance, Waste:' Trustor shati ndt cause, conduct or permit any nor commit, permit, or suffer any sWAWt of or wills ion or to. the
<br />Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to any other party the
<br />right to remove, any timber, minerals (including oil and gas), soil, gravel or rock products without the prior written consent of Lender.
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without the prior written consent
<br />of Lender. 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 Its agents and representatives may enter upon the Real Property at all reasonable times to attend to
<br />Lender's interests and to Inspect the Property for purposes of Trustoes compliance with the terms and conditions of this Deed of Trust.
<br />Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and regulations, now or hereafter in
<br />effect; of all governmental authorities applicable to the use or occupancy of the Property. ' Trustor may contest In good faith any such taw;
<br />ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals; so -long as Trustor has notified Loo der
<br />in writing prior_ to ,doing so .and. so long•as„in .Lender's sole. opinion,. Lender's Interests In the Property are..not. jeopardized. Lender rrtay require
<br />Trustor to post adequate securityoua surrity _ bond, _reasonably satisfactory to Lender, to protect' Lender's interest.;
<br />Duty'to Ptotsct ' Trustor agrees neither to ;abandbn hot leave unatiehded the Property. Trustor shall do all other acts, In addtilon`tq thoso acts
<br />set forth above in this section, which fom the character and use of the Property are reasonably necessary to protect and preserve the Property.
<br />DUE ON SALE CONStzlfT BY LENDER. , ter gr maY, at Its. option, declare immediately due and payable all sUms secured >SiR, Trust
<br />kji
<br />' salo'Q ,without the Lender's odbr`il�an ant, of alb It, prat or an inMrstd uci #be Appt� A
<br />hi conveyance of Real Property or any rte, C!< voluntary
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