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202203259
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Last modified
5/3/2022 3:53:08 PM
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5/3/2022 3:53:08 PM
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DEEDS
Inst Number
202203259
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2O22O325Q <br />BORROWER AND LENDER AGREE AS FOLLOWS: <br />1. Borrower shall pay when due, the principal and interest as provided in said Note. <br />2. All payments received by Lender shall be first applied to advances which may have <br />been made by Lender and then to interest due and last to principal due. <br />3. Borrower shall reimburse Lender for payment of all general real estate taxes, special <br />assessments, and property insurance payments against the Property before the same become <br />delinquent. <br />4. Borrower shall keep the described Property in good condition and repair; shall <br />promptly repair, or replace, any improvement which may be damaged or destroyed; shall not <br />commit or permit any waste or deterioration of the real estate hereinabove described, shall not <br />remove, demolish or substantially alter any of the improvements on the Property; shall not <br />commit, suffer or permit any act to be done in or upon the Property in violation of any law, <br />ordinance or regulation; and shall promptly discharge at Borrower's cost and expense all liens, <br />encumbrances and charges levied, imposed or assessed against the described real estate or any <br />part thereof. <br />5. Borrower shall keep the Property in compliance with all applicable laws, ordinances <br />and regulations relating to industrial hygiene or environmental protection (collectively referred <br />to herein as "Environmental Laws"). Borrower shall keep the Property free from all substances <br />deemed to be hazardous or toxic under any Environmental Laws (collectively referred to herein <br />as "Hazardous Materials"). Borrower hereby warrants and represents to Lender that there are no <br />Hazardous Materials on or under the Property. Borrower hereby agrees to indemnify and hold <br />harmless Lender, its directors, officers, employees and agents, and any successors to Lender's <br />interest, from and against any and all claims, damages, losses and liabilities arising in connection <br />with the presence, use disposal or transport of any Hazardous Materials on, under, from or about <br />the Property. THE FOREGOING WARRANTIES AND REPRESENTATION, AND <br />BORROWER'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL <br />SURVIVE RECONVEYANCE OF THIS DEED OF TRUST. <br />6. Borrower shall not sell, transfer, assign, convey or further encumber all or any part of <br />or any interest in the Property hereinabove described, either voluntarily or involuntarily, without <br />the express prior written consent of Lender or as otherwise herein permitted, and in the event of <br />any such sale, transfer, assignment, conveyance or transfer in violation of this provision, Lender <br />shall have the option to declare all sums secured hereby immediately due and payable. <br />7. If Borrower fails to perform the covenants and agreements herein contained, Lender <br />may do and pay for whatever is necessary to protect the value of the property and Lender's rights <br />in the Property, including the paying of any sum secured by a lien which has priority over this <br />Deed of Trust, appearing in Court, paying reasonable attorney fees and entering the Property to <br />make repairs. Any amount disbursed by Lender under this paragraph shall become an additional <br />debt of Borrower secured by this Deed of Trust, to bear interest from the date of disbursement <br />and said amount, together with the then unpaid principal amount, shall bear interest at the <br />highest lawful rate until refunded by Borrower. <br />8. The proceeds of a condemnation award are hereby assigned and shall be paid to <br />Lender and shall be applied to the sum secured by this Deed of Trust, whether or not then due, <br />with any excess to be paid to Borrower. <br />
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