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99-1C 3638
<br /> Trustor covenants and agrees with Lender as follows:
<br /> 1. Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br /> 2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property, and warrants that the
<br /> tien created hereby is a first and prior lien on the Property,except for liens and encumbrances set forth by Trustor in writing
<br /> and delivered to Lender before execution of this Deed of Trust,and the execution and delivery of this Deed of Trust dces not
<br /> violate any contract or other obligation to which Trustor is subject.
<br /> 3. Taxes, Assessments. To pay before delinquency all taxes, special assessments and all other charges against the
<br /> Property now or hereafter levied.
<br /> 4. Insurance.To keep the Property insured against damage by fire, hazards included within the term "extended cover-
<br /> age",and such other hazards as Lender may require, in amounts and with companies acceptable to Lender, naming Lender
<br /> as an additional named insured,with loss payable to the Lender. In case of loss under such policies,the Lender is authorized
<br /> to adjust,collect and compromise,all claims thereunder and shall have the option of applying all or part of the insurance pro-
<br /> ceeds(i)to any indebtedness secured hereby and in such order as Lender may determine,(ii)to the Trustor to be used for the
<br /> repair or restoration of the Property or(iii)for any other purpose or object satisfactory to Lender without affecting the lien of
<br /> this Deed of Trust for the full amount secured hereby before such payment ever took place.Any application of proceeds to in-
<br /> debtedness shall not extend or postpone the due date of any payments under the Note, or cure any default thereunder or
<br /> hereunder.
<br /> 5. Escrow. Upon written demand by Lender,Trustor shall pay to Lender, in such manner as Lender may designate,suf-
<br /> ficient sums to enable Lender to pay as they become due one or more of the following: (i)all taxes, assessments and other
<br /> charges against the Property, (ii)the premiums on the property insurance required hereunder, and (iii)the premiums on any
<br /> mortgage insurance required by Lender.
<br /> 6. Maintenance, Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair;
<br /> shall promptly repair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any
<br /> waste or deterioration of the Property; shall not remove, demolish or substantially alter any of the improvements on the Prop-
<br /> erty; shall not commit,sufferor permit any act to be done in or upon the Property in violation of any law,ordinance,or regula-
<br /> tion; and shall pay and promptly discharge at Trustor's cost and expense all liens, encumbrances and charges levied, im-
<br /> posed or assessed against the Property or any part thereof.
<br /> 7.Eminent Domain. Lender is hereby assigned all compensation,awards,damages and other payments or relief(here-
<br /> inafter"Proceeds")in connectior with condemnation or other taking of the Property or part thereof, or for conveyance in lieu
<br /> of condemnation. Lender shall be entitled at its option to commence, appear in and prosecute in its own name any action or
<br /> proceedings,and shall also be entitled to make any compromise or settlement in connection with such taking or damage. In
<br /> the event any portion of the Property is so taken or damaged, Lender shall have the option, in its sole and absolute discretion,
<br /> to apply all such Proceeds, after deducting therefrom all costs and expenses incurred by it in connection with such Pro-
<br /> ceeds, upon any indebtedness secured hereby and in such order as Lender may determine, or to apply all such Proceeds,
<br /> after such deductions, to the restoration of the Property upon such conditions as Lender may determine. Any application of
<br /> Proceeds to indebtedness shall not extend or postpone the due date of any payments under the Note, or cure any default
<br /> thereunder or hereunder. Any unapplied funds shall be paid to Trustor.
<br /> 8. Performance by Lender. Upon the occurrence of an Event of Default hereunder, or if any act is taken or legal pro-
<br /> ceeding commenced which materially affects Lender's interest in the Property, Lender may in its own discretion,but without
<br /> obligation to do so,and without notice to or demand upon Trustor and without releasing Trustor from any obligation, do any
<br /> act which Trustor has agreed but fails to do and may also do any other act it deems necessary to protect the security hereof.
<br /> Trustor shall, immediately upon demand therefor by Lender, pay to Lender all costs and expenses incurred and sums ex-
<br /> pended by Lender in connection with the exercise by Lender of the foregoing rights,together with interest thereon at the de-
<br /> fault rate provided in the Note,which shall be added to the indebtedness secured hereby. Lender shall not incur any liability
<br /> because of anything it may do or omit to do hereunder.
<br /> 9. Hazardous Materials.�rustor shall keep the Property in compliance with all applicable laws,ordinances and regula-
<br /> tions relating to industrial hygiene or environmental protection (collectively referred to herein as "Environmental Laws").
<br /> Trustor shall keep the Property free from all substances deemed to be hazardous or toxic under any Environmental Laws
<br /> (collectively referred to herein as"Hazardous Materials").Trustor hereby warrants and represents to Lender that there are no
<br /> Hazardous Materials on or under the Property. Trustor hereby agrees to indemnify and hold harmless Lender, its directors,
<br /> officers, employees and agents, and any successors to Lender's interest, from and against any and all claims, damages,
<br /> losses and liabilities arising in connection with the presence,use,disposal or transport of any Hazardous Materials on,under,
<br /> from or about the Property . THE FOREGOING WARRANTIES AND REPRESENTATIONS, AND TRUSTOR'S OBLIGA-
<br /> TIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL SURVIVE RECONVEYANCE OF THIS DEED OF TRUST.
<br /> 10.Assignment of Rents.Trustor hereby assigns to Lender the rents, issues and profits of the Property; provided that
<br /> Trustor shall, until the occurrence of an Event of Default hereunder, have the right to collect and retain such rents, issues and
<br /> profits as they become due and payable. Upon the occurrence of an Event of Default, Lender may, either in person or by
<br /> agent,with or without bringing any action or proceeding,or by a receiver appointed by a court and without regard to the ade-
<br /> quacy of its security, enter upon and take possession of the Property, or any part thereof, in its own name or in the name of
<br /> the Trustee, and do any acts which it deems necessary or desirable to preserve the value, marketability or rentability of the
<br /> Property,or any part thereof or interest therein, increase the income therefrom or protect the security hereof and,with or with-
<br /> out taking possession of the Property, sue for or otherwise collect the rents, issues and profits thereof, including those past
<br /> due and unpaid,and apply the same, less costs and expenses of operation and collection including attorney's fees,upon any
<br /> indebtedness secured hereby, all in such order as Lender may determine. The entering upon and taking possession of the
<br /> Property,the collection of such rents, issues and profits and the application thereof as aforesaid,shall not cure or waive any
<br /> default or notice of default hereunder or invalidate any act done in response to such default or pursuant to such notice of de-
<br /> fault and, notwithstanding the continuance in possession of the Property or the collection, receipt and application of rents.is-
<br /> sues or profits,and Trustee and Lender shall be entitled to exercise every right provided for in any of the Loan Instruments or
<br /> by law upon occurrence of any Event of Default, including without limitation the right to exercise the power of sale. Further,
<br /> Lender's rights and remedies under this paragraph shall be cumulative with, and in no way a limitation on, Lender's rights
<br /> and remedies under any assignment of leases and rents recorded against the Property. Lender, Trustee and the receiver
<br /> shall be liable to account only for those rents actually received.
<br /> 11. Events of Default. The following shall constitute an Event of Default under this Deed of Trust:
<br /> (a) Failure to pay any installment of principal or interest of any other sum secured hereby when due;
<br /> (b) A breach of or default under any provision contained in the Note,this Deed of Trust,any of the Loan Instruments,or
<br /> any other lien or encumbrance upon the Property;
<br /> (c) A writ of execution or attachment or any similar process shall be entered against Trustor which shall become a lien
<br /> on the Property or any portion thereof or interest therein;
<br /> (d) There shall be filed by or against Trustor or Borrower an action under any present or future federal, state or other
<br /> statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors; or there shall be appointed
<br /> any trustee, receiver or liquidator of Trustor or Borrower or of all or any part of the Property, or the rents, issues or
<br /> profits thereof, or Trustor or Borrower shall make any general assignment for the benefit of creditors;
<br /> (e) The sale, transfer, lease, assignment, conveyance or further encumbrance of all or any part of or any interest in the
<br /> Property, either voluntarily or involuntarily, without the express written consent of Lender; provided that Trustor shall
<br /> be permitted to execute a lease of the Property that does not contain an option to purchase and the term of which
<br /> � � does not exceed one year;
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