|
• •
<br />202100002
<br />documents or instruments of further assurance necessary to fully protect the lien of this
<br />Deed of Trust.
<br />1.04 Taxes, Assessments, and Charges.
<br />(a) Trustor will pay prior to delinquency all real estate taxes, personal
<br />property taxes, special assessments, assessments, charges, fines and impositions
<br />imposed upon, assessed against or otherwise relating to the Property or any part
<br />thereof, and any leasehold payments or ground rents, if any, except no such tax,
<br />assessment, charge, fine or imposition need be paid which is being contested in
<br />good faith and by appropriate legal proceedings and as to which adequate
<br />reserves shall have been established, and as to which no foreclosure, distraint,
<br />sale or similar proceedings have commenced. Trustor will, upon the request of
<br />Beneficiary, deliver to Beneficiary receipts evidencing such payments.
<br />(b) Trustor will pay when due all lawful claims and demands of mechanics,
<br />materialmen, laborers, and others which might result in the creation of a lien on
<br />the Property unless contested in good faith and by appropriate legal proceedings,
<br />and as to which adequate reserves shall have been established
<br />1.05 Conversion of Security. All right, title and interest of Trustor in and to
<br />all extensions, improvements, betterments, renewals, substitutions and replacements
<br />of, and all additions and appurtenances to the Property, hereafter acquired by, or
<br />released to, Trustor or constructed, assembled or placed by Trustor on the Property,
<br />and all conversions of the security constituted thereby, immediately upon such
<br />acquisition, release, construction, assembling, placement or conversion, as the case
<br />may be, and in each such case, without any further deed of trust, conveyance,
<br />assignment or other act by Trustor, shall become subject to the lien of this Deed of Trust
<br />as fully and completely, and with the same effect, as though now owned by Trustor and
<br />specifically described in the granting clause hereof, but at any and all times Trustor will
<br />execute and deliver to Trustee any and all such further assurances, deeds of trust,
<br />conveyances or assignments thereof as Trustee or Beneficiary may reasonably require
<br />for the purpose of expressly and specifically subjecting the same to the lien of this Deed
<br />of Trust.
<br />1.06 Security Agreement. This Deed of Trust shall be self -operative and
<br />constitute a Security Agreement under the Uniform Commercial Code of the Governing
<br />Jurisdiction, as amended from time to time, with respect to the Fixtures or any personal
<br />property situated on or associated with the Property; provided, however, Trustor hereby
<br />agrees to execute and deliver on demand and hereby irrevocably constitutes and
<br />appoints Beneficiary the attorney-in-fact of Trustor, to execute, deliver and, if
<br />appropriate, to file with the appropriate filing officer or office such financing statements
<br />or other instruments as Beneficiary may reasonably request or require in order to
<br />impose or perfect the lien or security interest hereof more specifically thereon.
<br />1.07 Compliance with Laws. Trustor will not commit any waste on or of the
<br />Property or make any change in the use of the Property which will in any way increase
<br />any ordinary fire or other hazard arising out of construction of the Improvements or
<br />operation of the Property, nor will Trustor make any application to any federal, state or
<br />local governmental authority ("Governmental Authority") for a change in zoning or a
<br />change in any other law, ordinance, statute, rule, order, decree, directive or regulation
<br />("Laws") affecting the Property nor will Trustor consent to any such change without the
<br />written consent of the Beneficiary, which consent will not be unreasonably withheld.
<br />Trustor will at all times comply with all Laws of any Governmental Authority having
<br />jurisdiction over construction of the Improvements or otherwise affecting the Property
<br />and maintain and keep, or cause to be maintained and kept, the Improvements in good
<br />operating order and condition. After completion of the Improvements, they shall not be
<br />removed, demolished or substantially altered; nor shall any of the Fixtures be removed,
<br />without the prior written consent of Beneficiary, except where appropriate replacements
<br />free of superior title, liens and claims are immediately made having a value at least equal
<br />to the value of the Fixtures so removed.
<br />1.08 Impositions. Trustor shall pay all reasonable costs, fees and expenses
<br />of Trustee, its agents and legal counsel in connection with the performance of its duties
<br />hereunder; and Trustor shall pay all taxes (except federal and state income taxes) and
<br />4
<br />
|