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99 106672
<br /> This Deed of Trust sl�all secure (a) tl�e payment of tl�e principal sum and interest evidenced by a promissory note(s) or credit
<br /> agreement(s)as follows:
<br /> Original
<br /> Date of Ptincipal Maturity
<br /> Note(s) Maker(s)of Note(s) Amount(s) Date(s)
<br /> 6-30-99 Gordon D Graf � Sally M Graf $ 295,000.00 2-1-06
<br /> 6-30-99 .Gordon D Graf � Sally M G�f r,�, � ,,J,r25#000.00 2-1-04
<br /> and any and all modifications, extensions and renewals thereof or tliereto and any and all future advances and readvances to �
<br /> Borrower(or any of them if more than one)hereunder pursuant to one or more promissory notes ot credit agreements(herein calted
<br /> "Note", whether one or more); (b) the payment of other sums advanced by Lender to protect the 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 any of them if more than one) to Lender whether direct, indirect, absolute or condngent 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 eaecuted in connection thetewith, including without limitation guarantees, security agreements and assignments of leases
<br /> and rents, ahall be referred 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 the owner of the Property, has the right and authoriry to convey the Property� and 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 ezecution of this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any '
<br /> conuact 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 Property now �
<br /> or hereaRer levied. � � �
<br /> 4. Insurance. To keep the Property insured against damage by fire, hazards included within the term "extended coverage", � ;
<br /> and such oUier hazards as I.ender may reyuire, in amounts and with companies�acceptable to Lender, naming L,ender 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 L.ender may determine, (ii) to die Trustor to be used for thc tepair or restoradon
<br /> of the Property or (iii) for any other purpose or object satisfactory to Lender without affecting die 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 I.ender, Trustor shall pay to Lender, in such manner as I.ender may designate, sufficient
<br /> sums to enable Lender to pay as they become due one or more of the following: (i)all tazes,,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 /> re uired b Lender. '
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<br /> Re airs and Com liance with Laws. Trustor shall keep the Property in good condition and repair; shall
<br /> 6. Ma[ntenance, p p
<br /> promptly repair, or replace any improvement 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 reguladon; and shall pay ,+ �
<br /> and promptly discharge at Trustor's cost and expense all liens, encumbrances and cliarges 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 condemnation or other taking of the Property or part thereof, or for conveyance in lieu of �
<br /> condemnation. Lender shall be entitled at its option to commence, appear in and prosecute in its own name any acdon 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 disctetion, 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 y
<br /> eztend or postpone the due date of any payments under the Note, or cure any defauit tliereunder or hereunder. Any uaapplied 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 discredon, but without obligation to
<br /> do so, and without notice to or demand upon Trustor and witl�out 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 fotegoing rights, together with interest diereon at the default rate provided in the '�'
<br /> Note, which sl�all be added to tlie indebtedness secured hereby. LenJer shall not incur any liability because of anything it may do or
<br /> omit to do hereunder. .' . �. ."._..` . .:` ��� -� �
<br /> 9. liazardous Materials. Trustor al�all 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�"$nvlronmental 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 "Hazardoua 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 directora, officera, employees and agents,�,
<br /> and any successors to I,ender's lnterest, from and against any and all claims, damages, losses and liabilides arising in connecdon
<br /> with the presence.use,disposal or transport of any Hazardous Materials on, under, from or about the Property. THE FOREGOINCi .
<br /> WARRANTIES AND REPRESENTATIONS, AND TRUSTOR'S OBLIGATIONS PURSUANT TO �THB FOREGOIN(3
<br /> INDEMNITY, SHALL SURVIVE RECONVEYANCE OF THIS DEED OF TRUST. ,, ,,,,,�,i,:. ,�.,:�;,...• ,:.;,,+ '
<br /> 10.Asslgnment of Rents. Trustor hereby assigns to I.ender, and grants Lender a security interest in, all present, future and
<br /> after-azising 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 presecve
<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. L.ender may apply rents,
<br /> issues and profits, less costs and ezpenses 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 condnuance in
<br /> possession of the Property or the collection, receipt and application of rents, issues or profits, Trustee and Lender shall be endtled to
<br /> exercise every right provided fot 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 tights and remedies under thla paragraph shall be:'.
<br /> cUmulative wid�, and in no way a limitation on, Lender's rlghts 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 actualiy recelved. � : ' `
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