200011126 - Laserfiche WebLink

Browse

11. Condenrrno*n. The proceeds of any awared or payment or claim for damages, direct or consequential, in connection with any condemnation or other raking of the Trust Property, or any part thereof, either temporatily or permanently, or for conveyance in lieu of or in anticipation of condemnation, are hereby assigned to and shalt be paid to Beneficiary: Trustor nip file and prosecute, in good faith and with due diligence, its claim for any such award or payment and will cause the some to be collected and paid to Beneficiary, and shot ky it fail to do so, Trustor irrevocably author. ces and empowers Beneficiary, in the name of Truster or otherwise, to file, prosecute, settle or compromise any such claim and to collect, receive for and retain the proceeds. If the Trust Property is abandoned by Trustor" or, after notice by Beneficiary to Trustor that the condemnor offers to make an award or settle a claim for damages, Truster fails to respond to Beneficiary within thirty 001 days after the date such notice is mailed, Beneficiary is authorized to collecr and apply the proceeds in the manner indicated herein. The proceeds of any award or claim may, alter deducting air reasonable costs and expenses, including attorneys' fees, which may have been incurred by Benefick?ry in the coflection thereof, at the sole discretion of Beneficiary, be released to Truster, applied to restoration of the Trust Property, or applied to the payment of the Obligations. Unless Beneficiary and Trustor otherwise agree in writing, any such application of proceeds to the Note or Guaranty, as applicable, shall not extend or postpone the due date of any regular instalments called for thereunder or change the amount of any such inst.J/ments. 12. Environmental Representations and Warrantia , indemnification; Inspection and Testing. Trustor represents and warrants that, except as disclosed in writing to Beneficiary and except waere Trustor has obtained the requisite lace/, state, and/or Aidera/ permits and approvals, Trustor does not and will not generate nor have to its possession any hazardous or toxic wastes, chemicals or other substances, rho generation or possession of which are govemed by lots, state andlor environmental laws, ordinances, decrees, regulations and statutes (hereinafter ',Environmental Wastes '1. Trustor further represents and warrants that it is not presently the subject of any environmental inquiry, litigation, administrative proceeding or threat thereof by a governmental authority, and that Trustor sna/l promptly notify Beneficiary of same if any of the foregoing does occur. Trustor also represents and warrants to Beneficiary that it is not subject to anyiudgmert, decree, order or citation relating to or arising out of a violation of local, state or federal environmental laws or regulations. Trusror shall also provide Sene.'7c:'a: ; when applicable with copies of all appropriate environmental permits and approvals. Trustor warrants and represents that there are nor now, nor to the Trustor s knowledge after reasonable investigation have there ever been environmental Wastes stored, deposited, treated, recycled or disposed of on, under, or at the Trust Property (including tanks or other facilities thereon containing such materials), which materials or containea materials, if kniwn to be present on the property or present in soils or ground ware,-, would require clean up, removal, or other remedial action under environmental laws. Trustor will indemnify and hold harmless Beneficiary, its successors, assigns, employees, agents, parent, affiliates and subsidiaries. and each of them, from any and all claims, suits, damages, liabilities and expenses arising out of or in connection with any alleged or actual pollution or contamination of the ground, water or air of, on or near the Trust Property. Beneficiary may at any Time hire the services of an environmental consulting and/or testing company to inspect the Trust Property with the costs thereof to be charged to Trustor. Trustor shall not rely on such inspection no., shall Trustor be relieved thereby of conducting its own environniental audit or taking such other steps as are necessary to comply with environmental laws and regulations. 13. Trustor Not ne/eased. Extension of the trine (or payment or modification of any amortization of the Obligations granted by Beneficiary to any successor ir interest of Trustor shall not operate to release, in any manner, the liability of Trustor and Trustor's si )ccessors in interest. 9cne,fi~-irry shall rot be required to commence proceedings against such successor or refuse to extend time for payme,,t or otherwise modify amortization of the Obligations by reason of eny demand made by Trustor and Trustor's successors in interest. 14. Additional Covenants. In addition to any other covenants of Trustor made in any other agreement, instrument or document, Trustor shall comply with the covenants set forth in any Rider attached and made a part of this Deer of Trust. 15. Schedule of Leases. Within ten (10) days after demand, Trustor shall fumish to Beneficiary a schedule, certified to by Trustor. setting forth all leases of the Trust Property, or onyportion thereof, including in each case, the name of the tenants or occupants, a description of the space occupied by such tenant or occupant, the rental payable for such space, and such other information and documants with respect to such lenses and tenancies as Beneficiary may reasonably request, 16. Covenants of Trustor with Respect to Leases. Wrfhout the prior written consent of Beneficiary, Trustor shall not, directly or indirectly, with respect to any lease of space in the Trust Property, or any portion thereof, whether such lease is now or hereafter in existence. (a) Accept or permit any prepayment, discount or advance payment of rent hereunder in excess of one month, (bl Ce,^cel or terminate, the some, or accept any cancellation, termination or surrender thereof, or permit any event ro occur which would occur thereunder to terminate or cancel the same, other than termination for nonpa,ment of rent, (r.) Amend or modify the some so as to reduce the term thereof, the rental payable thereunder, or to c.'iange any renewal provisions therein contained, Jd/ Waive any default thereunder or breach, thereof, +r) Give any consenr, waives or 9pproval thereunder or take any other action in Connection therewith, or with a lessee thereunder, which world have the effect of impairing the value of the lessor's interest thereunder or the property subject thereto, or of impairing the position of interest of Beneficiary therein,, or (I) Sell, assign, pledg^' mortgage or otherwise dispose of, or encumuer its interest in any said /tease or any rents, issues, profits issuing or arising thrreundrrr. 17. Waiver of Statute of Limitations, Time is of the essence in all of Trustor's obligations and duties hereunder; and to the extent permitted b✓ law, Trustor waives all present or fixture statutes of limitation with respect to any debt, demand or obligation secured hereby and anv action or proceeding for the purpose of enforcing this Deed of Trust or any rights or remedies contained herein, 18, Assignment of Deposits. In the event construction of improvements is contemplated by the Obligations secured hereby. as addirionel sracurity therefor, Tnrsror hereby transfers end assigns to Beneficiary, all right, title and interest to any and all monies deposited by or on behalf of Trustor with any city, county, public body or agency, sanitary district, utility company, and any other Lody or agency, for the installotion or to xecure the installation of any utility by Trustor, perfain/ng to the Trust Property. 19. Organizational Existence. H Trustor is an organisation organized under the laws of a were, it will do all things necessary to preserve irs existence and :iii lights and privileges under the laws of the state of its organization. 20. Forbearance by Baneflc/ary Not a Wolvar. Any delay by Beneficiary in exercising any right or remedy hereunder, or otherwise afforded by applicable law or equity, shall not be a waiver of or preclude the exercise of such right or remedy or of any other right or remedy granted hi•reundor Or at low or equity, The failure of the Beneficiary to exercise any option to accelerate maturity of the Obligations secured by this peed of Trust, the /nrbesranre by the Beneficiary before of offer the exercise of such option, or rho withdrawal or abandonment of procredings provided for by this deed of Trust shall not be a weivr.r of the right to exercise such option or to accelerate the maturity of ,ouch obligations by reason of any past, present or future event which would permit acceleration under the Section entitled 'Acceleration of Debt; Foreclosure' herein. The procurement of insurance, the payment of faxes or the discharge of liens or charpas by Benef/clarv shall nor be r waiver of Reneficiary's right to eccalerafe the maturity of the Obligations hereby secured. The Beneficiary s receipr of any swords, prore>ed:g of damages under the Section entitled 'Hazard Insurance' and the Section entitled "Condemnation" herein shall not operate to cure or waive default by the Trustor under the Serrion en;iNed "Events of Default" herein, 21, Remedies Cumulative. All remedies provided in this Deed of Trust ore distinct and cumulative to any other right or remedy under this Deed of mist or afforded by !sw or equity, and may he exetr,ised concurrently, indepondently or Ytit C'nssively, and as often es the ucra.vor? rhr'rnfor arise.9, " 22. Successors and Assigns Bound' Number; Gander; Joint and Several UabNfty, Captions. The covenants and agrnernentr herein rontained nhil!: bind, and the righfa hrrreundre shrill inure to, the respective heirs, toga/ represnntolives, successors and as.rr,r/rr.r of Beneficiary, Trustee. anif rru.S rnr. Whoirvnr uxad, the singular number .hall include the plurol, the plural Nre sinrlriter, and die use Of any gender shall he applicable to all gnnrdr^r,;, All rovewont5 and agrfrr, n)nnl.". of rtw:ppor shall be joint and several; prov;,M(l. rir>rvevee. that rf the I mstor is an iodrvrdu,rl, nf7filwj conre,ricrd err This Orod of Crust .shall in tiny way obiigsto a spouse of the fiuxtt)1 to pay rho Ot)legatiurr.t rnrlo't's Itech spouse :r/.ro ,rrvr)x the Note or flrn Gii,)rnrrty, Thn captlofm and hnAdxngs of rlrn Seehoos of this Dend L I Trutt era her convenionce only ante are not to he t sad ft) interprer or dnftm? the peo) *ons hereof. 2.1. Notice. rwrrpr 1•7r any nonce regerrrnrl undo-r aplrliGgh)o law to be g/van in another manner, ra/ airy nodCe ra true err I:rn vruiud f,»' iii thiX Drrd of Trusf shall he given by Moiling surh notice by cartiflad rfla/l, return receipt regeiralnd addrelsrd to riu.+tor at its rnorlinp address .rot forth above of at such Other address as trutfor may dovignato by norice Ire Nonorticiarv art provided /rennin, arid /hl any natioe to Brine/n;iriry of TrWen shall lira uivro by crrtiherd inad, mefirrr rocelpt rrigrierred, to Soneficiary's and rtuslra',r rnailinq oddrtta.t stafnrt harem ei ru atich uflre>r ,rd4+ro..1x as ttorreffo.7'y or Trustee may de.,Ugnare by notion to Trusror es pruvirlod herein Any ounce provided for ire fine 00'ed of wrist shell be dervnn,l to h,nve been given to rruvror, l4riefici4ry or roistne whorl given in the manner designated herein 24, Governing Lew; Sevotobility. Thin need of rrusr shrill he governed by the Iowa of the Slirte of Nehra,nks. In rho event any provision or r,/cruse n1 this need of TniS( Conflicts with applirable law, such conflict shell not affect other provisions of this Peetd of trust which edit he given effect wifh!)ur tdea conflicting provisions and to this end the provision of this fiend of ]rust arr. deriatrd to be anvnnnhla. In tho event that any P.,9plicablit Inw in fffect On the (fire of the execution of this Deerl of Trintf limits the OrnOW4 of inferdst Or OfthIr ifanrs which n)trv be. lawful;' tharoed and is iotrrofoterl in a manner such that any petyrnent provided fur in this Deed of riust or if, the Note or the Gua,enty (whether ronxidared separately or together with other payments that are considarod a port of this Piped ill Trust and this frarraactrar,l violdrns such leiw, .ouch lea mfrnt is hereby reduced to the extent necessary to alin)inato such violation it the rruafnr i,a wrfitlt+d to rho hrnallt nl such law, f',r t^ 3 of