|
202402891
<br />compliance of the Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall
<br />be for Lender's purposes only and shall not be construed to create any responsibility or liability on the part of
<br />Lender to Trustor or to any other person. The representations and warranties contained herein are based on
<br />Trustor's due diligence in investigating the Property for Hazardous Substances, Trustor hereby (1) releases and
<br />waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender
<br />against any and all claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or
<br />indirectly sustain or suffer resulting from a breach of this section of the Deed of Trust or as a consequence of
<br />any use, generation, manufacture, storage, disposal, release or threatened release occurring prior to Trustor's
<br />ownership or interest in the Property, whether or not the same was or should have been known to Trustor. The
<br />provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall survive
<br />the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and
<br />shall not be affected by Lender's acquisition of any interest in the Property, whether by foreclosure or
<br />otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any
<br />stripping of or waste on or to the Property or any portion of the Property. Without limiting the generality of the
<br />foregoing, Trustor will not remove, or grant to any other party the right to remove, any timber, minerals
<br />(including oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior written consent,
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property
<br />without Lender's prior written consent. As a condition to the removal of any Improvements, Lender may require
<br />Trustor to make arrangements satisfactory to Lender to replace such Improvements with Improvements of at
<br />least equal value.
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at
<br />all reasonable times to attend to Lender's interests and to inspect the Real Property for purposes of Trustor's
<br />compliance with the terms and conditions of this Deed of Trust.
<br />Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and
<br />regulations, now or hereafter in effect, of all governmental authorities applicable to the use or occupancy of the
<br />Property, including without limitation, the Americans With Disabilities Act. Trustor may contest in good faith
<br />any such law, ordinance, or regulation and withhold compliance during any proceeding, including appropriate
<br />appeals, so long as Trustor has notified Lender in writing prior to doing so and so long as, in Lender's sole
<br />opinion, Lender's interests in the Property are not jeopardized. Lender may require Trustor to post adequate
<br />security or a surety bond, reasonably satisfactory to Lender, to protect Lender's interest.
<br />Duty to Protect. Trustor agrees neither to abandon or leave unattended the Property. Trustor shall do all other
<br />acts, in addition to those acts set forth above in this section, which from the character and use of the Property
<br />are reasonably necessary to protect and preserve the Property.
<br />Construction Loan. If some or all of the proceeds of the loans creating the Indebtedness are to be used to
<br />construct or complete construction of any Improvements on the Property, the Improvements shall be completed
<br />no later than the completion date set forth in the Notes or any loan agreement related to the Notes (or such
<br />earlier date as Lender may reasonably establish) and Trustor shall pay in full all costs and expenses in
<br />connection with the work. Lender will disburse loan proceeds under such terms and conditions as Lender may
<br />deem reasonably necessary to insure that the interest created by this Deed of Trust shall have priority over all
<br />possible liens, including those of material suppliers and workmen. Lender may require, among other things, that
<br />disbursement requests be supported by receipted bills, expense affidavits, waivers of liens, construction
<br />progress reports, and such other documentation as Lender may reasonably request.
<br />DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and
<br />payable all sums secured by this Deed of Trust upon the sale or transfer, without Lender's prior written consent, of
<br />all or any part of the Real Property, or any interest in the Real Property. A "sale or transfer" means the conveyance
<br />of Real Property or any right, title or interest in the Real Property; whether legal, beneficial or equitable; whether
<br />voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract for deed,
<br />3
<br />
|