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99 110292
<br /> 1. Pa}�ment 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 authority to convey the Property and
<br /> warrants that the lien created hereby is a first and prior lien on the Property and the execution and delivery of the
<br /> Deed of Trust does not violate any contract or other obligation to which Trustor is subject.
<br /> 3. Taxes.Assessments. To pay,before delinquent, all taxes, special assessments and a11 other charges
<br /> against the Property now or hereafter levied.
<br /> 4. Insurance. To keep the Property insured against damage by fire hazards included with the term
<br /> "extended coverage"and such other hazards as Lender may require in amounts and with companies acceptable to
<br /> Lender,naming Lender as an additional named insured with loss payable to the Lender. In case of loss under such
<br /> policies,the Lender is authorized to adjust,collect and compromise all claims thereunder and shall have the option of
<br /> applying a11 or part of the insurance proceeds(i)to any indebtedness secured hereby and in such order as Lender may
<br /> deternune, (ii)to the Trustor to be used for the repair or restoration of the Property,or(iii)for any other purpose or
<br /> object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured hereby before
<br /> such payment ever took place. Any application of proceeds to indebtedness sha11 not e�ctend or postpone the due date
<br /> of any payments under the Note,or cure any default thereunder or hereunder.
<br /> 5. Escrow. Upon written demand by Lender,Trustor sha11 pay to Lender,in such manner as Lender may
<br /> designate, sufficient sums to enable Lender to pay as they become due one or more of the following. (i)all t�es,
<br /> assessments and other charges against the Property: (ri)the premiums on the property insurance required hereunder,
<br /> and(iii)the premiums on any mortgage insurance required by Lender.
<br /> 6. Maintenance.Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and
<br /> repair;shall promptly repair, or replace, any improvement which may be damaged or destroyed;shall not commit or
<br /> permit any waste or deterioration of the Property;sha11 not remove,demolish or substantially alter any of the
<br /> improvements on the Property;shall not commit, suffer or pernut any act to be done in or upon the Property in
<br /> violation of any law,ordinance or regulation;and sha11 promptly discharge at Trustor's cost and expense a111iens,
<br /> encumbrances and charges levied,imposed or assessed against the Property or any part thereof.
<br /> 7. Eminent Domain. Lender is hereby assigned a11 compensation,awards,damages and other payments or
<br /> relief(hereinafter"Proceeds")in connection with condemnation or other taking of the Property or part thereof, or for
<br /> conveyance in lieu of condemnation. Lender sha11 be entitled at its option to commence,appear in and prosecute in
<br /> its own name any action or proceedings,and sha11 also be entitled to make any compromise or settlement in
<br /> connection with such taking or damage. In the event any portion of the Property is so taken or damaged,Lender
<br /> sha11 have the option,it its sole and absolute discretion,to apply all such Proceeds, after deducting therefrom all costs
<br /> and expenses incurred by it in connection with such Proceeds,upon any indebtedness secured hereby and in such
<br /> order as Lender may determine, or to apply all such Proceeds,after such deductions,to the restoration of the
<br /> Property upon such conditions as Lender may deternune. 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
<br /> unapplied funds shall be paid to Trustor.
<br /> 8. PerFormance b,y Lender. Upon the occurrence of an Event of Default hereunder,or if any act is taken or
<br /> legal proceeding commenced,which materially affects Lender's interest in the Property,Lender may in its own
<br /> discretion,but without obligation to do so, and without notice to or demand upon Trustor and without releasing
<br /> Trustor from any obligation,do any act which Trustor has agreed but fails to do and may also do any other act it
<br /> deems necessary to protect the security hereof. Trustor shall,immediately upon demand therefor by Lender,pay to
<br /> Lender all costs and expenses incurred and sums expended by Lender in connection with the exercise by Lender of
<br /> the foregoing rights,together with interest thereon at the default rate provided in the Note,which sha11 be added to
<br /> the indebtedness secured hereby. Lender sha11 not incur any liability because of anything it may do or omit to do
<br /> hereunder.
<br /> 9. Hazardous Materials. Trustor shall keep the Property in compliance with all applicable laws,ordinances
<br /> and regulations relating to industrial hygiene or environmental protection(collectively.referred to herein as
<br /> "Environmental Laws"). Trustor sha11 keep the Property free from a11 substances deemed to be hazardous or toxic
<br /> under any Environmental Laws(collectively referred to herein as"Hazardous Materials"). Trustor hereby warrants
<br /> and represents to Lender that there are no Hazardous Materials on or under the Properiy. Trustor hereby agrees to
<br /> indemnify and hold harmless Lender,its directors,officers, employees and agents, and any successors to Lender's
<br /> interest,from and against any and all claims,damages,losses and liabilities arising in connection with the presence,
<br /> use disposal or transport of any Hazardous Materials on,under,from or about the Property. THE FOREGOING
<br /> WARRANTIES AND REPRESENTATIONS,AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE
<br /> FOREGOING INDENINITY, SHALL SURVIVE RECONVEYANCE OF THIS DEED OF TRUST.
<br /> 10. Assig�,nment of Rents. Trustor hereby assigns to Lender the rents,issues and profits of the Property,
<br /> provided that Trustor sha11,until the occurrence of an Event of Default hereunder,have the right to collect and retain
<br /> such rents,issues and profits as they become due and payable. Upon the occunence of an Event of Default,Lender
<br /> may,either in person or by agent,with or without bringing any action or proceeding,or by a receiver appointed by a
<br /> court and without regard to the adequacy of its security,enter upon and take possession of the Property,or any part
<br /> thereof, in its own name or in the name of the Trustee,and do any acts which it deems necessary or desirable to
<br /> preserve the value,marketability or rentability of the Property,or any part thereof, or interest therein,increase the
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