202304031 - Laserfiche WebLink

Browse

202304031 modifications, extensions, and renewals thereof or thereto, and any and all future advances and re - advances to Borrower hereunder pursuant to one or more promissory notes or credit agreements (herein called the "Note"); (b) the payment of other sums advanced by Lender to protect the security of the Note; (c) the performance of all covenants and agreements of Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower to Lender, whether direct, indirect, absolute, or contingent and whether arising by note, guaranty, overdraft, or otherwise. The Note, this Deed of Trust, and any and all other documents securing the Note or otherwise executed in connection therewith, including without limitation guarantees, security agreements, and assignments of leases and rents, shall be referred to herein as the "Loan Instruments". TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS: 1. Payment of Indebtedness. All indebtedness secured hereby shall be paid when due. 2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property, and warrants that the lien created hereby is a first and prior lien on the Property and that the execution and delivery of this Deed of Trust does not violate any contract or other obligation to which Trustor is subject. 3. Taxes, Assessments. Trustor shall pay, before delinquent, all taxes, special assessments, and all other charges against the Property now or hereafter levied. 4. Insurance. Trustor shall keep the Property insured against damage by fire hazards included with the term "extended coverage" and such other hazards as Lender may require, with companies and in amounts acceptable to Lender, naming Lender as an additional named insured with loss payable to the Lender. In case of loss under such policies, Lender is authorized to adjust, collect, and compromise all claims thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby and in such order as Lender may determine, (ii) to the Trustor to be used for the repair or restoration of the Property, or (iii) for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured hereby before such payment ever took place. Any application of proceeds to indebtedness shall not extend or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder. 5. Escrow. If required by Lender, Trustor shall pay to Lender, in such manner as Lender may designate, sufficient sums to enable Lender to pay all taxes, assessments, and other charges against the Property as they become due. Further, upon written demand by Lender, Trustor shall pay to Lender, in such manner as Lender may designate, sufficient sums to enable Lender to pay as they become due, one or more of the following: (i) the premiums on the property insurance required hereunder, and (ii) the premiums on any mortgage insurance required by Lender. 6. Maintenance, Repairs, and Compliance with Laws. Trustor shall keep the Property in good condition and repair; shall promptly repair or replace any improvement that may be damaged or destroyed; shall not commit or permit any waste or deterioration of the Property; shall not remove, demolish, or substantially alter any of the improvements on the Property; shall not Page 2 of 9