|
: .; p� � .� s. 9��, 109997
<br /> 71: COLLECTION COS'TS. To the extent permitted by law,Grantor agrees to pay Lender's reasonabie fees and costs,including,but not limited to,
<br /> fees and costs of attorneys and other agents(including without limitation paralegals,clerks and consultants),whether or not such attorney or agent is
<br /> an employee of Lender, which are incurred by Lender in collecting any amount due or enforcing any right or remedy under this Deed of Trust,
<br /> whether or not suit is brought, including, but not Hmited to,all fees and costs incurred on appeal, in bankruptcy,and tor post Judgment collection
<br /> actions.
<br /> 28. PARTIAL RELEASE. Lender may release its interest in a poftion of the Property by executing and recording one or more Partial Deed of
<br /> Reconveyance without affecting its interest in the remaining poRion of the Property Nothing herein shall be deemed to obligate Lender to release
<br /> any oi its interest in the Pro�erty(except as required under Paragraph 37),nor shalf Lender be obligated to refease any part oi the Properry if Grantor
<br /> is in default under this Dee��of Trust. The Ilen and securi interest created by the Deed of Trust remafn in effect with respect to that port(on of the
<br /> property,as defined in the Ceed of Trust,that is not the sub�ect of thls or any Partial Deed of Reconveyance.
<br /> 29. MODIFICATION ANO HVAIVER. The modification or waiver of any of Grantor's Obligations or Lender's rights under this Deed of Trust must be
<br /> contained in a writing signsd by Lende�. Lender may perform any of Borrower's or Grantor's Obligations,delay or fail to exercise any of its rights or
<br /> axept paymenta from Grar:tor or anyane other than Grantor without causing a waiver of those Obligations or righta. A waiver on one occasion ahall
<br /> not constitute a waiver on any other occasion. Grantor's Obligations under thfs Deed of Trust shall not be affected if Lender amends,compromfses,
<br /> exchanges,fails to exercise,impairs or releases any of the Obligations belonging to any Grantor, Borrower or third party or nny of its rights against
<br /> any Grantor, Borrower or third party or any of the Property. Lender's failure to insiat upon strict performance of any of the C)bligations shall not be
<br /> deemed a waiver,and Lender shall have the right at any time thereafter to insist upon atrict performance.
<br /> 30. SUBSTITUTE TRUSTEE. In case of the death,inabflity,refusal to act or absence of the Trustee from the state where the I'roperty is located or in
<br /> case the holder of the Obligations shall desire for any reason to remove the Trustee or any substitute trustee as trustee hereunder and to appoint a
<br /> new trustee in his place and stead,the holder of the Obligations is hereby granted full power to appoint in writing a substitute•trustee for said Trustee,
<br /> and the substitute trustee shall,when appointed,become successor to all rights of Trustee hereunder and the same shall become vested in him for
<br /> the purposes and objects of this Deed of Trust with all the power,dutles and obligations herein conferred on the Trustee.
<br /> 31. SUCCESSORS AND ASSIGNS. This Deed of Trust shall be binding upon and inure to the benefit of Grantor and Lender and their�espective
<br /> successors,assigns,trustees,receivers,administrators,personal representatives,legatees and devisees.
<br /> 32. NOTICES. Except as ctherwise required by law,any notice or other communication to be provided under this Deed of Trust shall be in writing
<br /> and sent to the parties at 3he addresses described in this Deed of Trust or such other address as the parties may desi�nate in writing from time to
<br /> time. Any such notice so g�ven and sent by first class mail,postage prepaid,shall be deemed given the earlier of three (3)days after such notice is
<br /> sent or when received by the person to whom such notice is being given.
<br /> 33. SEVERABILITY. Whenever possible,each provision of this Deed of Trust shall be interpreted so as to be effective and valid under applicable
<br /> state law. If any provision of this Deed of Trust violates the law or is unenforceable,the rest of this Deed of Trust shall cantinue to be valid and
<br /> enforceable.
<br /> 34. APPLICABLE LAW. This Deed of Trust shall be governed by the laws of the state where the Property is located. Unleas applicable law provides
<br /> otherwise,Grantor consents to the jurisdictfon and venue of any court selected by lender,In ita sole discretion,located in that state.
<br /> 35. NO THIRD-PARTY RIGHTS. No person is or shall be a third-party beneflciary of any provision of this Deed of Trust. NI provisions of this Deed of
<br /> Trust in favor of Lender are intended solely for the benefit of Lender,and no thlyd party shall be entitled to assume or expect that Lender will waive or
<br /> consent to the modification of any provision of thia Deed of Truat,in Lender's sole disoretion.
<br /> 36. PRESERVATION OF�3ABILITY AND PRIORITY. Wthout affecting the Iiability of Borrower,Grantor,or any guarantor of the Obligations,or any
<br /> other person (except a person expressly released in writing)for the payment snd performance of the Obligations,and without affecting the rights of
<br /> Lender with respect to any Property not expressly released in writing, and without impairing in any way the priority of this Deed of Trust over the
<br /> interest of any person acquired or first evidenced by recording subsequent to the recording of thfs Deed of Trust, Lender mey,either before or after
<br /> the maturiry of the Obligations, and without notice or consent: release any person tiable for payment or performance of all or any part of the
<br /> Ob�igations; make any agreement altering the terms of payment or performance of atl or any part of the Obligations; exercise or refrain from
<br /> exercising or waive any right or remedy that Lender may have under thia Deed of Trust; accept additional security of any kind for any of the
<br /> Obli�ations;or release or otherwise deal with sny real or personal property securing the Obligations. Any person acqwring or recording evidence of
<br /> any mterest of any nature in the Property shall be deemed,by acquiring such interest or recording any evidence thereof,to have consented to all or
<br /> any such actions by Lender.
<br /> 37. DEFEASANCE. Upon the payment and performance in full of ali of the Obligations,Lender will execute and deliver to Grantor those documents
<br /> that may be required to release this Deed of Trust of record. Grantor shall be responsible to pay any costs of recordation.
<br /> 38. CONSTRUCTION LOAN. ❑ This Deed of Trust is a construction mortgage under the Uniform Commercfal Code, to secure an obligation
<br /> incurred for the construction of an improvement on land,Including the acquisition costs of land. This Deed of Trust secures a construction loan,and
<br /> it will be subject to the terms of a construction loan agreement between Grantor and Lender. My materials,equipment or supplies used or intended
<br /> for use in the construction,development,or operation of the Property,whether atored on or off the Property,shall also be subject to the Iien of this
<br /> Deed of Trust.
<br /> 39. WAIVER OF HOMEST�AD AND OTHER EXEMPTIONS. Grantor hereby waives all homestead and other exemptians in the Property to which
<br /> Grantor would otherwise be entitled under any applicable law.
<br /> 40. MISCELLANEOUS. Grantor and Lender agree that time is of!he essence. Grantor waives presentment,demand for payment,notice of dishonor
<br /> and protest except as required by law. All references to Grantor in this Deed of Trust shall include all persons signing below. H there is more than one
<br /> Grantor, their Obligations shall be joint and several. This Deed of Trust represents the complete integrated understandin{� between Grantor and
<br /> Lender pertaining to the terms and conditions hereof.
<br /> 41. JURY TRIAL WAIVER. LENDER AND GRANTOR HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY CIVIL ACTION ARISING OUT OF,
<br /> OR BASED UPON,THIS DEED OF TRUST.
<br /> 42. ADDITIONAL TERMS: �
<br /> Grantor acknowledges that Grantor has read,understands,and agrees to the terms and conditions of this Deed of Trust,and acknowledges receipt of
<br /> an exact copy of same.
<br /> Datedthis 6th o�yof October, 1999 .
<br /> GHANTOR: AAgg1A KO�1tZ GRANTOR: �
<br /> Aage Ro tz - _ —
<br /> GRANTOR: GWWTOR:
<br /> GRANTOR: GHANTOR:
<br /> GRANTOR: GRANTOR:
<br />
|