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<br /> � In the event of the passaqe of any law deducting irom tha valuQ of real propeRy tor the purposes of taxation
<br /> � C�;;�`^'t':�° � of a�y lien thQreon,or chan in in an way the laws fo�the taxation of deeds of trutt or debts secured by de�ds of _ ^
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<br /> ;`4 t�ust for state or local purposes9or the manner of the tallection of any such taxes,so as to affect this Deed of Trust, ��-��-:•��;,�,_, ._-
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<br /> the holder of this Oeed of Trust and of the obliqations which it secures shall have the right to declare all sums setu►ed �Y__
<br /> � ' h�reby due as of a date to be specified by not less than 30 dayt'written notice to be given to Trustor by Beneficiary; �_
<br /> • � provided,however,that such election shall be ineff�ctive if Trustor is permitted by law to pay the whole of such tax i n �..�°,�,-...�,,,r,T.��,�.,,;
<br /> ' addition to all other payments required hereunder and if,prio�to such specified date, does pay such tax and ag►eQS _
<br /> " i , : � . to pay any such tax when hereahe�IeviQd or assQSS�d aqairnt such property,and such apreement shall co�stituM a (����-� +�
<br /> modification of this Deed of Trust. ,"'� '�'�'•�'�`�'��.`�'
<br /> ' Sue+ns I►dva�cad to Bea►Interest: To pay immediately upon demand any sums advanced or paid by B�aneficfary
<br /> ur Trustee uncler any clause or provision of this Deed of Trust. Any such sums,until so repaid,shall be secured hereby
<br /> ; •,:;,� a�d bear interest from the dake iR was advai+ced a+pa{d at the same rate as such indebtedness and sha��bQ sQwred by r'��a.�l���:
<br /> .•'.�� , � this Deed ot Trust. • . . .
<br /> ':;:;!:.�'�..;. ,
<br /> • ;;r,..,:,..�, Assig�ment oi Deposits: That as further add�tional security rf this be a construction loan. Trustor hereby ' "
<br /> '"�`�' � ' t r dn sfen and assi gns to Benefiva►y during continuance af these Trusts, all right, ti44e a�d interest to any and a!I
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<br /> ;;,t�;•'�-���;!`:' monfes deposited by trustor or deposited on be ha l f o f Trustor wi t h a n y c i t y, c o u n t y,l a u b l i c b o d y o r a g e n c y, s a rn t a ry . :,... ..
<br /> } �;;jtl`.+'; district,gas�nd/or electric tompany, telephone company and any other body or �q�e�cy, for the installation or to ,., � d ,
<br /> �•..-�'`:�!•�.•; . seture the installption oi any utility by Trustor pertainingto this property. .;��, �y,��ct;�fi�� .:���;:
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<br /> ��''I(,k'�:�';:.��t.`�: Fao�ure Of Yrustar tA Cott�ply with Deed of Trust: She+ul�d Maker or Trusto�fail ta make any payment, or to do ,!`i:��,:..�,_._�:_,1..:;� J,�
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<br /> �'-ti S'��'r�':••- • ,• any act as provided in this Deed ai Trust,or fail to perform any obliqation securep by th�s peed of Trust,or do any act �:�.�•. _�::�:..�.':t, �,���
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<br /> �`.''`'�`•�.�� •���' ,'� Makef or Trustor agreed not to do, Trustor shall be i�deiault under this Oeed of Trust B�eneficiary, but without � , ,. �;, ;s � t•..,;_J
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<br /> ' '��'°:,�:+���,:•ir;.:•. obligation so to do an�'without notice to or demand upon 7rustor and without releasing 7rustnr from any obligation ������' ' Y�;•
<br /> : ;';';�''';;.; `',���., hereof and without cantesting the validity or amount of 1he same,may ia)make ur da the savne in such manner and f �. ._.�,:
<br /> ;�>Cy;�'iE;�;�'��:���•� to such extent as it may deem necessary to protect tfie security hereof, Beneficiary being authorized to enter upon �• `.t:_"�
<br /> , '"�' ,°'�°"�° :�•'``! such p�operty for such purposes, and (b) pay, pu+chase, contest or compromise any encumbrance, charge or lien, -�
<br /> '��i�;�. �:' whith in Its judgment is or appea�s to be prior or superior hereta,and(c)in exerasing any such power, pay necessary i =
<br /> � ''� �'�'"'� expenses,employ counsel and pay his reasonable iees. Trustor agrees to repay any amaunt so expended on demand , � �
<br /> , , . �:�
<br /> � of eeneficiary. � '�;'�r
<br /> ' � • ;:,,, , IT 15 MUTUALLY AGREED THAT: ' '
<br /> '� ' ,r :';: � �
<br /> ;�;,., :;. �, fnviranmente!Qisclaime.� 7rustor warrants(and this shall be a continuing warranty which shall wrvive until i ' —
<br /> ,. .. ;; '�.�,� . all the obl�gations of Maker orTrustor to Trustee and Beneficiary have been fully sat�sf�ed) that it is in comNiiar.ta ,_ , , , ,._-
<br /> • "�"��'� with all federal, state and local environmental laws and regulations and has ohtained all environmental permits ,�•,; � . :
<br /> � netessary or appropriate to the conduct of its business. There�s noc pend�ng,nor to the best oi Trustor's knowledge, ':�`•
<br /> �'�.;� �1 � , �, , aher due inquiry, are there any threatened environmenta l en forcemen t actions,suits or proceedings before any , ���,���';
<br /> ' �;�, court, ttibunal or administrativ�body or offival. Trustor, or any respon��ble officer, general partner,or agent of ���'`+',�.�-; , �•
<br /> Trustor,has nOt,nor has any former owner of real property occup�ed by Trustor,stored,used or disposed of any toxic
<br /> ��` or hazardous substance on�ts propert�es or/ransported any such subsiance to or from its properties in violation of
<br /> ,,. �.
<br /> � , any presently existing or previous�y existing laws,regulations or polir.ies The Trustor wdl not store,use or dispose of r {
<br /> ' such substances on th�s property.
<br /> ; � • ., �
<br /> • Litigation: Trustor shall defend this 7rust m any act�on or proceed�ng purpo►ting to affect such property,
<br /> whether a not it affects the secur�ty hereof, or purporting to affect the r�ghts or powers of Beneficiary or Trustee, :
<br /> and shall file and prosecute all necessary da�ms and act�ons to prevent nr recover tor any damage to o�destruction of 1, � ,
<br /> � �". ��, such property; and either Trustee or eeneficiary �s hereby authorized, w�thout obl�gation so to do, to comrr�oncQ, , . , .
<br /> . �,'�,.�'�,' . . appear in or defend any such attion, whether brought by or aga+nst Trus:or, Beneficiary or Trustee, or with or .
<br /> ' without suit,to exercise or enfo+ce any other r�ght,remedy or power avaitable or conierred hereunder,whether or
<br />� not judgment be entered in any action or proceeding; and Trustee or 8enef�uary may appear or intervene in any .
<br /> � attion or proteeding, and retain counsel there�n; and take such action therein, as e�ther may be advised and may
<br /> •��'. �;�. settle,compromise or pay the same or any other claims and,i n that behalf and for any of said purposes,may expend
<br /> ���' : ' and advance such sums of money as either may deem necessary Whetl�er or not Trustor so appears or defends, ';:
<br /> ''�' Trustor on demand shall pay all costs and expenses of eeneficiary and Trustee,incl uding costs of ev�dence of title and , �
<br /> ' attorney's fees in a reasonable sum, in any such act�on or proceed�ng in which 6eneiiciary or 7rustee may appear by . � '•�,:
<br /> ' ' vinue of being made a party defendant or otherwise and irrespectrve of wneiher the interest of Benefitiary or ,:.
<br /> �. `•, . '.i ' Trustee in such property is dir�ectly quest�oned by such action, �ndud�ng but noi limited to any attion for the ,ti,
<br /> � `^�• 1 condemnation o►partit�on of suc�e p►operty and any su�t brought by Benefivary to foreclose this Deed of Trust. , , .
<br /> • ..�:
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<br /> Con demnation: All sums due, pa�d or payable to Trustor, or any�successor m interest of Trustor, whether by �.
<br /> .,�:��.;
<br /> , : _.•,.� `;;•:, way oi}udgment,settlement or othervv�se,(a) for�njury or damagu to such proQerty,or(b)in connettion with any
<br /> � .ip, :, condemnation for public use or��;ury to such property or any part the•eo�, ca�tu �n connection with the t�ansattion
<br /> ; , financed by the loan secured hereby, or(d)ans�ng out of all causes of ac:+or, w�hether accruing before or p�fter ihe
<br /> date of this Dee�+�f Trust, soundmg m tort or contract, �nclud�ng sawges a� act�on for fraud ot contealment of a
<br /> !`� � material fact togecner with the settlements,proceeds,awards and dan^as�es.d.�ect and consequential,in connettion •
<br /> ,�;• therewith, are hereby absolutely and irrevocably assigned and shaP� te pa�d' *.a�eneficiary,subject howevQr to the
<br /> �,
<br /> � , rights of the holder oi any p•�o�'�en Benef�c�ary 5halt 5p ent�tled,at �ts op:�cn :�•commence,�ntervene�n,appear in
<br /> , and prosecute in �ts ewn narne, any �ct�on or�rocee•9���,or to make any cornpr,�ti*�se or settlement, ��r connect�on
<br /> , with any such taking or damags Trustor agrees to execute such (urther ass�gnrr�ents of any compens�timn, award,
<br /> demages,rights of action and proceeds as @enef�c�ary may►eqw�e
<br /> .._.,....o..,e�,.��.,..,��.��,ant rn th�c Deed of Trust unde�any fire or other insurante polity,iR
<br /> IIIC dItlVUlli i�c�,ti�cu vr ..�..�....�'! r-"-' -
<br /> tonnection with any tondemnat�on for publit use o� or �njury to such property, for injury or damage to sutn
<br /> property,or in connection w�tl,the transaction f�nanced by the loan secured hereby are to be applied at the option
<br /> of Benefiaary upon any�ndebtedness secured hereby. No such applicat�o�. use or release shall cure or waive any
<br /> defau�t or notice of default hereunder or mval�date any act done pursuant to such notice.
<br /> Consent.Partial Reconveyance,Etc.: At any:�me,or lrom t�me to t�me,without I�ab�I�ty therefor, and w�thout
<br /> notice,upon wntten request ot Benef�uary,and w�thout affect�ng the personal I�ab�lity of any person for paymentof
<br /> the �ndebtedness secured hereby,or the I�en of th�s Deed of Trust upon the rema�nder of such property for the ful)
<br /> amount af the indebtedness then or thereaher, secu►ed hereby or the r�ghts or ppwers of the genef�uary of the
<br /> Trustee w�th respect to the rema�nde► pt such pr�perty, Trustee ►nay (al ►econvey any part o( Such property, (b)
<br /> � consent to the maY.inq of any map or plat thereof, (c) �oin �n granting anv easement thereon, or (d) �o�n m any
<br /> extension agreement or any agreement subordinat�ng the I�en or charge he�eof
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