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202204759
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Last modified
6/28/2022 3:56:45 PM
Creation date
6/28/2022 3:56:44 PM
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DEEDS
Inst Number
202204759
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202204759 <br />endorsements which confirms the coverages required in this paragraph. Such insurance policy <br />cannot be cancelled, terminated, or modified without thirty (30) days' written notice to Beneficiary. <br />Insurance proceeds shall be applied to restoration or repair of the Property damaged, unless both <br />parties otherwise agree; except if restoration or repair is not economically feasible, then said <br />proceeds shall be paid over to Beneficiary to apply upon obligations that are the subject of the Note, <br />whether or not then due, and the excess (if any) shall be paid to Trustor. Unless Beneficiary and <br />Trustor otherwise agree in writing, any payments or proceeds from insurance shall not extend or <br />postpone the due date of the monthly payments provided in said Note or change the amount of the <br />payments. <br />5. MAINTENANCE. Trustor covenants and agrees to keep the Property in good <br />condition and repair; to restore promptly and in good and workmanlike manner any improvement <br />which may be damaged or destroyed thereon and to pay, when due, all claims for labor performed <br />and materials furnished therefor and for any alterations thereof; to comply with the provisions of <br />restrictions affecting the Property; not to remove, demolish or materially alter any improvement, or <br />the character or use thereof at any time thereon that will materially reduce the value of the Property; <br />not to commit or permit any waste thereof or any act upon the Property in violation of law; to do all <br />other acts in a timely and proper manner which from the character or use of the Property may be <br />reasonably necessary to protect and preserve said security; to promptly discharge, at Trustor's cost <br />and expense all liens, encumbrances, and charges levied, imposed, or assessed against the Property <br />or any part thereof. <br />6. ENVIRONMENTAL CONDITIONS. Trustor shall keep the Property in compliance <br />with all applicable laws, ordinances, and regulations relating to industrial hygiene or environmental <br />protection (collectively referred to herein as "Environmental Laws"). Trustor hereby agrees to <br />indemnify and hold harmless Beneficiary and any successors to Beneficiary's interest, from and <br />against any and all claims, damages, losses, and liabilities arising in connection with the presence, <br />use, disposal, or transport of any hazardous or toxic materials on, under, from, or about the Property. <br />THE FOREGOING WARRANTIES AND REPRESENTATIONS, AND TRUSTOR'S <br />OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL SURVIVE <br />RECONVEYANCE OF THIS DEED OF TRUST. <br />7. CONSTRUCTION OF IMPROVEMENTS. Trustor covenants and agrees to <br />complete in good and workmanlike manner any improvement which may be begun on the Property, <br />to pay when due all costs and liabilities incurred therefor, which are not to be specially assessed, and <br />not to permit any construction lien against the Property. <br />8. ACTIONS AFFECTING TRUST ESTATE. If Trustor or Maker fail to perform the <br />covenants and agreements contained in the Security Instruments, or if any action or proceeding is <br />commenced which affects Beneficiary's interest in the Trust Estate, then Beneficiary, at Beneficiary's <br />option, upon notice to Trustor, may make such appearances, disburse such sums, including <br />reasonable attorneys' fees, and take such action as is necessary to protect Beneficiary's interest. Any <br />amounts disbursed by Beneficiary pursuant to this Paragraph 8, with interest thereon, at the Note <br />Rate (as defined in the Note), shall become additional indebtedness of Maker secured by this Deed <br />of Trust. Unless Trustor, Maker and Beneficiary agree to other terms of payment, such amounts <br />shall be payable upon notice from Beneficiary to Trustor and Maker requesting payment thereof. <br />3 <br />
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