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<br /> This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a promissory note(s) or credit
<br /> agreement(s)as follows:
<br /> Date of Original
<br /> Principal Maturity
<br /> Note(s) Maker(s)of Note(s) Amount(s) Date(s)
<br /> 04/06/99 DONALD L IRVINE, PATRICIA A IRVINE 73,270.00 03/O1/09
<br /> 3
<br /> and any and all modifications, extensions and renewals thereof or thereto and any and `all future advances and readvances to
<br /> Borrower(or any of them if inore than one)hereunder pursuant to one or more promissory notes or r�redit agreements (herein called
<br /> "Note", whether one or more); (b) the payment of other sums advanceil by Lender to protect th� security of the Note; (c) the
<br /> : performance of all covenants and agreements of Trustor set forth herein; and (d) all present and future indebtedness and obligations
<br /> of Borrower (or anqAdf'Sheft�,ig�bre than one) to Lender whether direct, indirect, absolute or contingent and whether arising by
<br /> note, guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that secure the Note or
<br /> otherwise executed in connecrion therewith, including without limitation guarantees, security agreements and assignments of leases
<br /> and rents, shall be refened to herein as the "Loan Instruments".
<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 t�e owner of the Property, has the right and authorit��_to con�ey the Property�, aad warrants that the lien
<br /> � created hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trustor in writing and
<br /> � delivered to Lender before execution of this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any
<br /> Q contract or other obligation to which Trustor is subject.
<br /> 3. Taaces, Assessments. To pay before delinquency all taxes, special assessments and all other charges against the Property now
<br /> � or hereafter levied.
<br /> 4. Insurance. To keep the Property insured against damage by fire, hazards included within the term "extended coverage",
<br /> � and such other hazards as Lender may require, in amounts and with companies acceptable to Lender, naming Lender as an
<br /> � additional named insured, with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust,
<br /> � collect and compromise, all claims thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any
<br /> indebtedness secured hereby and in such order as Lender may determine, (ii) to the Trustor to be used for the repair or restoration
<br /> 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
<br /> full amount secured hereby before such payment ever took place. Any application of proceeds to indebtedness shall not extend or
<br /> postpone the due date of any payments under the Note, or cure any default thereunder or hereunder.
<br /> 5. Escrow. Upon written demand by Lender, Trustor shall pay to Lender, in such manner as Lender may designate, sufficient
<br /> sums to enable Lender to pay as they become due one or more of the following: (i)all taxes, assessments and other charges against
<br /> the Property, (ii) the premiums on the property insurance required hereunder, and (iii) the premiums on any mortgage insurance
<br /> required by Lender.
<br /> 6. Maintenance, Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair; shall
<br /> prompdy repair, or replace any unprovement which may be damaged or destroyed; shall not commit or permit any waste or
<br /> deterioration of the Property; shall not 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, ordinance, or regulation; and shall pay
<br /> and promptly discharge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the
<br /> Property or any part thereof.
<br /> 7. Eminent Domain. Lender is hereby assigned all compensation, awards, damages and other payments or relief(hereinafter
<br /> "Proceeds") in connection with candem:iation or otl�r taking of the Property or part t��re�f, or fer-coztveyanee in lieu of
<br /> condemnation. Lender shall be entided 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 the
<br /> event any portion of the Property is so taken or damaged, Lender shall have the option, in its sole and absolute discretion, to apply
<br /> all such Proceeds, after deducting therefrom all costs and expenses incurred by it in connection with such Proceeds, upon any
<br /> indebtedness secured hereby and in such order as Lender may determine, or to apply all such Proceeds, after such deductions, to the
<br /> restoration of the Property upon such conditions as Lender may determine. Any application of Proceeds to indebtedness shall not
<br /> extend or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder. Any unapplied funds
<br /> 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 proceeding
<br /> commenced which materially affects Lender's interest in the Property, Lender may in its own discretion, but without obligation to
<br /> do so, and without nodce to or demand upon Trustor and without releasing Trustor from any obligation, do any act which Trustor
<br /> has agreed but fails to do and may also do any other act it deems necessary to protect the security hereof. Trustor shall,
<br /> immediately upon demand therefor by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender in
<br /> connection with the exercise by Lender of the foregoing rights, together with interest thereon at the default rate provided in the
<br /> Note, which shall be added to the indebtedness secured hereby. Lender shall not incur any liability because of anything it may do or
<br /> omit to do hereunder.
<br /> 9. Hazardous Materials. Trustor shall keep the Property in compliance with all applicable laws, ordinances and regulations
<br /> relating to industrial hygiene or environmental protection (collectively referred to herein as "Environmental Laws"). Trustor shall
<br /> keep the Property free from all substances deemed to be hazardous or toxic under any Environmental Laws (collectively referred to
<br /> herein as "Hazardous Materials"). Trustor hereby warrants and represents to Lender that there are no Hazardous Materials on or
<br /> under the Property. Trustor hereby agrees to indemnify and hold harmless Lender, its directors, officers, employees and agents,
<br /> and any successors to Lender's 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 the Properly. THE FOREGOING
<br /> WARRANTIES AND REPRESENTATIONS, AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING
<br /> INDEMNITY, SHALL SURVIVE RECONVEYANCE OF THIS DEED OF TRUST.
<br /> 10.Assignment of Rents. Trustor hereby assigns to Lender, and grants Lender a security interest in, all present, future and
<br /> after-arising rents, issues and profits of the Property; provided that Trustor shall, until the occurrence of an Event of Default
<br /> hereunder, have the right to collect and retain such rents, issues and profits as they become due and payable. Upon the occurrence
<br /> of an Event of Default, Lender may, either in person or by agent, with or without bringing any action or proceeding, or by a
<br /> receiver appointed by a court and without regard to the adequacy of its security, enter upon and take possession of the Property, or
<br /> any part thereof, in its own name or in the name of the Trustee, and do any acts which it deems necessary or desirable to preserve
<br /> the value, marketability or rentability of the Property, or any part thereof or interest therein, or to increase the income therefrom or
<br /> protect the security hereof and, with or without taking possession of the Property, sue for or otherwise collect the rents, issues and
<br /> profits thereof, including those past due and unpaid, by notifying tenants to make payments to Lender. Lender may apply rents,
<br /> issues and profits, less costs and expenses of operation and collection including attorneys' fees, to any indebtedness secured hereby,
<br /> all in such order as Lender may determine. The entering upon and taking possession of the Property, the collection of such rents,
<br /> issues and profits, and the application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or
<br /> invalidate any act done in response to such default or pursuant to such notice of default and, notwithstanding the continuance in
<br /> possession of the Property or the collection, receipt and application of rents, issues or profits, Trustee and Lender shall be entitled to
<br /> exercise every right provided for in any of the Loan Instruments or by law upon occurrence of any Event of Default, including
<br /> without limitation the right to exercise the power of sale. Further, Lender's rights and remedies under this paragraph shall be
<br /> cumulative with, and in no way a limitation on, Lender's rights and remedies under any assignment of leases and rents recorded
<br /> against the Property. Lender, Trustee and the receiver shall be liable to account only for those rents actually received.
<br /> NBp457G(Agricdturil Deed)Rev.01/96
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