|
2021©8974
<br />represents and warrants that Trustor has full power and lawful authority to grant,
<br />assign, transfer and mortgage its interest in the Property in the manner and form hereby
<br />done or intended. Trustor will preserve its interest in and title to the Property and will
<br />forever warrant and defend the same to Trustee and will forever warrant and defend the
<br />validity and priority of the lien hereof against the claims of all persons and parties
<br />whomsoever. Trustor shall promptly and completely observe, perform, and discharge
<br />as and when due each and every obligation, covenant and agreement affecting the
<br />Property whether the same is prior and superior or subject and subordinate hereto.
<br />1.03 Further Assurances. Trustor shall, at its own cost and without expense to
<br />Trustee or Beneficiary, promptly execute, acknowledge and deliver, or cause to be
<br />executed, acknowledged and delivered, any and all such further conveyances,
<br />confirmations, instruments or further assurances and consents as Beneficiary may
<br />deem reasonably necessary or proper in order to effectuate, perfect, evidence or protect
<br />the liens, covenants and agreements created by or contained in this Deed of Trust and
<br />shall cause to be timely and properly filed, registered or recorded any existing
<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 property taxes,
<br />special assessments, assessments, charges, fines and impositions imposed upon,
<br />assessed against or otherwise relating to the Property or any part thereof, and any
<br />leasehold payments or ground rents, if any, except no such tax, assessment, charge,
<br />fine or imposition need be paid which is being contested in good faith and by appropriate
<br />legal proceedings and as to which adequate reserves shall have been established, and
<br />as to which no foreclosure, distraint, sale or similar proceedings have commenced.
<br />Trustor will, upon the request of Beneficiary, deliver to Beneficiary receipts evidencing
<br />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 the
<br />Property unless contested in good faith and by appropriate legal proceedings, and as to
<br />which adequate reserves shall have been established
<br />1.05 Conversion of Security. All right, title and interest of Trustor in and to all
<br />extensions, improvements, betterments, renewals, substitutions and replacements of,
<br />and all additions and appurtenances to the Property, hereafter acquired by, or released
<br />to, Trustor or constructed, assembled or placed by Trustor on the Property, and all
<br />conversions of the security constituted thereby, immediately upon such acquisition,
<br />release, construction, assembling, placement or conversion, as the case may be, and in
<br />each such case, without any further deed of trust, conveyance, assignment or other act
<br />by Trustor, shall become subject to the lien of this Deed of Trust as fully and completely,
<br />and with the same effect, as though now owned by Trustor and specifically described in
<br />the granting clause hereof, but at any and all times Trustor will execute and deliver to
<br />Trustee any and all such further assurances, deeds of trust, conveyances or
<br />assignments thereof as Trustee or Beneficiary may reasonably require for the purpose
<br />of expressly and specifically subjecting the same to the lien of this Deed of Trust.
<br />-4-
<br />
|