|
=� � s�� � -
<br /> �� �,�,:� -
<br /> ___ �.: . ' .
<br /> ,Y� , . __ � --- — .�.
<br /> �� - ---__...._...,�
<br /> __�_ y4-l�D�.��,�
<br /> L�nd�►b proMOt th�wcurity of th�NoN;(c)th�pNiam��ot�I�cowruma and a�rNm�nb of Tru�tor sMb�th h�rNn;And(d)dl
<br /> pr�nt�nd IuWr�Ind�btadnMS�ed ob�{p�Gan�of 8o►�owM(or�ny of th�n1 if mon than on�)to L�nd�►wn�r dlt�af,Indir�ct,
<br /> ab�olut�a condnp�nt�nd whNhK��IWn�by naur.puar�nty.owrdr�R a oth�viw.Tf+�NoM.thl�M�d of Ttwt�nd any�nd aH
<br /> otlNr docwnblhst Maun tM Nol�a oth�rwlp�x�eut�d In conn�atlon th��wilh,inciudlrp�ithout IImIt�UOn ywanMw,�urNy
<br /> - - _ - rprM�nb�nd awlpnrywnis ot laasas�snd rsnb,sh�ll bs rH�rnd!o h�nNn u M►�°Loan InN�um�nb". �.
<br /> Trwta cown�nb�nd oprs�s with L�ndK��followr.
<br /> 1. h�t d Ind�bMdn�.All Ind�bt�dnNa f�cund h�nby ahali b�paid wh�n dw.
<br /> � 2. TNN.Tru�tor I�th�own�r of th�Prop�rty,hae th�ripht�nd�uthorlty to conv�y ths P►op�rty,R�d warranb that th�Ilm
<br /> '� cr�st�d h�r�by is a 8rat and prlor If�n on the Prop�Ay,txcept lor Ileno and encumbranca4 cat forth by Truator tn wrlGnp and -- -
<br /> - — - dNiv�r�d to L�ndK Wfon�xacutlon of thi�ONd of Trust,�nd th��x�oution and d�liv�ry of thls DNd of Trwt do�s not violat�any
<br /> _ -__�- _ _ oont►�ct or olher obNpatlon to wh►ch Trustor is wbjsc4 _ _
<br /> - -- --�-= 3. T�xN�MN�m�nb.To p�y belon d��inqu�ncy�tl Wx��,apscial�tssamenu and all othor aha�yes ap�i�ot th�Property
<br /> � �ow or hsr�fter IevNd.
<br /> ___— 4. Insur�nu.To k�+ep the Property tneured apatnet dam�pe by tire,hazerda included within the tarm"extended coveraqs",end
<br /> -------T'� �uch oth�r hasarda a Lender may require,in emounq and with companiea acceptable to Lend�r,naminp Lender as an additionat
<br /> - -_--_.__�= named insur4d,with loas payable to the Lende�.in caes ot lo�s under euch poticles,the Lender ld authorized to tdjust,coitect and _
<br /> ����� compromiae,ail ciaima thereunder and shell have the option of applyinp alt or paR ot the ineurance prxeed�(I)to a�y Indebtedne�s
<br /> , aecured hereby and In such order aa Lendar may determine,(if)to the Trustor to be used tor the repair ar reuo�alio�.of the Property
<br /> — =;4�._� or(111)for any Ather purpose or obJect aatialactory to Lender without aHectlny the ilen of this Deed ot T�ust for the lull amount secured
<br /> hereby batore auah payment ever took piace.Any app�ication o1 proceeds to indebtedness ehell not eztend or postpone the due —
<br /> 'e ' dat�of any paymenta under the Note,or cure any defauit thereunder or hereunder.
<br /> 5. Escrow.tfpon written demand by Lender,Truato�shall pay to Lender,in such manner as Lender may deai9nate,aufficient —
<br /> ,,�:�M{�`�•;�'�'�t eums to eneble Lender to pay as they become due one or more of the tollowing:(f)all taxes,easessmenta and other charfles apalnat
<br /> =•r�-;'`�'• '.;= •• the Property,(li)the premfums on the property insurance requlred hereundsr,end(111}the prerniums on any mortpape insurance �_
<br /> �.��; ' requfred by Lender.
<br /> • ,� ;��`�^ B. Msinbnana,R�paln and Compiisna�with Law�.Truator sha�f keep the Property in yood condition and repalr, shell "'_'
<br /> , promptly repalr,or replace any improvement which may be demaged or dealroyed; shali not commit or permit any waste or
<br /> deterioration ot the Property;shali not remove,demolish or substantialiy aiter any of the improvements on the Property:shall not �_�
<br /> � � commit,BuHer or permit any act to be done in or upon the Praperty tn violation of any law,ordinance,or reguleti on;and shall pay and ---�
<br /> promptly discharye at Trustor's cost and expense ali Iiens,encumbrences and charges levled,impoaed a asaessed ayainst the
<br /> � Property or any part thereof. �
<br /> 7. Emin�nt Dom�in.Lender is hereby assigned ali co�npeoeation,awards,damafles and other payments or rellet(hereinafter "�=�
<br /> "Proceeds"► in connectlon with condemnatfun or other takinp of the Property or part the�eaf, or for c�nveyance in Ileu ot
<br /> •••� � � condemnatlon. Lendar ahatl be entitled at its optfon to cammence,appear fn and prosecute in it9 own neme any actfon or
<br /> proceedinpa,and ahall atso be entltied to make any compromise or settlement in connection with such takinp or damape.In the �...•
<br /> event any ponlon of the Property Is so taken or damaged,Lender shall have the option,fn its eole and absWute dlacretion,to apply
<br /> ali such Proceeds,after deductfng therefrom eil costs and axpenses incurred by it In connection with such Proceeds,upon any
<br /> Indebtedness secured hersby and in such order as Lender may determine,or to appiy an such Proceeds,aHer iuch deduciions,to °
<br /> the restoration ot the Property upon such conditions as Lender may determine.Any application ot Proceede to indebtedness shali
<br /> � not extend or postpone the due date of any payments under the Note,or cure any default thereunder or hereunder.Any unapplled
<br /> tunds shall be paid to Trustor.
<br /> 8. P��tormanc�by L�nd�r.Upon the occurrence of an Event ot Oefauit hereunder,or i(any act Is taken a Iegai proceoding �.;,;_..
<br /> � commenced which materiatly aftects Lender's interest In the Property,Lender may in its own discretion,butwithout obliyallon to do --_
<br /> so,and wlthout notice to or demand upon Trustor and without releasfng Trustor trom any obiigation.do any act which Trustor has =�:
<br /> � agreed but faits to do and may aiso do any other act it deems necessary to protect ihe security hereof.Truator shall,Immediateiy o„:_
<br /> • " upon demend theretor by Lender,pay to Lender aIi costs and Rxpenses incurred and sums expended by Lender in connection with �_=
<br /> i' � the exercise by Lender of the foregoing rights,together with interest thereon at the default rate provided in Ihe Note,which eheti be �:.•-
<br /> y'r � � added to the indebtedness secured hereby. Lender shali not tncur any liabil�ty because of anythlnp it mey do or omit to do _
<br /> , a hereundec �_=-
<br /> 9. Hasa�daus Mat�ri�is.Trustor shali keep the Properry in compifance w�th aIi applfcable taws,ordfnances and regulations `� �
<br /> � relating to Industriel hyylene or environmental protection(coliectively referred to herein as"Environmental Lews").Trustor shatl
<br /> keep the Property lree frort�all substances deemed to be hazardous or toxic under any Environrnentai Lawe(collectively referred to �•
<br /> hereln as"Hazardous Materia�s").Trustor here by warran ts an d represents to Lender that there are no Hazardous Materials on or �"�
<br /> under the Property.Trustor hereby ayrees to indamnity and hoid harmiess Lender,fts d�rectors,cHicers,emWoyees and agents,and ��
<br /> any succeasors to Lender's fnterest,from and agai�st any and all cleims,damages,losses and liabilities arising in connectlon with �'_.
<br /> f , the presence, use,disposal or transport oi•any Hazardous Materials on,under, from or about the Property.THE FOREGOING �
<br /> WARRANTIES ANO REPRESENTATIONS.AND TRUSTOR'S 08LIGATIONS PURSUANT TO TH E FOREG�INC3INDEMNITY,SHALL
<br /> 9URVIVE RECONVEI'ANCE OF THIS OEED OF TRUST.
<br /> 10. A�siqnm�nt of q�nts.Trustor hereby assigns to Lender the rents.�ssues and profits of the Property; provided that Truator
<br /> shall,untll tho occurrenCe of an Event of Default hereunder,have the right to collect and retam such rents,issuea end proffts as they
<br /> , ,: become due and payable.Upon the accurrence of an Event ot Defauit.Lender may,oither�n persun or by ayent,with o�wfthout '
<br /> ,,:,,_ brinpiny any actfon or proceeding,or by a rece�ver appointed by a court and without regard to the adequacy ot fts securfty,enter �
<br /> � . upon end take possession ot the Property,or any part thereot,in its own name or m the name of the Trustee.anddo any acts which ii �
<br /> . deems necessary or desirabie to preserve the vaiue,marketab�iity or rentabil�ry of the Prope►ty.or eny part thereuf or interest therein,
<br /> -- • t Increase the Income therofrom or protect the secunty hereof and,with or without taking possess�on ol the Property,sue for or .
<br />� , � otherwise collect the rents,issues and profits thereof. including those past due and unpa�d,and apply the Same,less Costs and �
<br /> expenses of operation and coliection�ncluding attorneys'fees,upon any indebtedness secured hereby.all m such order as Lendor �
<br /> . may determine.The entering upon and taking possess�on of the Property,the collection of s�ch rents, issuesand prqiits and the
<br /> � application thereo(as aforesaid,shatl not cure or waive any detault or not�ce ot default hereuntler or �nval�date any act done in �
<br /> ; response lo such de(sult or pursuant to such not�ce ol default and,notw�thstandmg the cont�nuance�n possess�on of the Properry or
<br /> + the collection,receipt&nd application of rents,issues or protits,and Trustee and Lender shail be entitled to exercise every right '
<br /> . - provided for In any of the Loan Instruments or by�aw upon occurrence of any Event of Oefault, includmg w�ih out I�mdation the right
<br /> to exerciae the power of sale.Further.Lender's rights and remedies under th�s paragraph shall be cumulative with.and in no way a
<br /> . • � Ifmitation on,Lender's rights and remedies under any assignment of ieases and rents recorded against the Properiy.Lender,Trustee
<br /> .. and the receiver Shali be liable to account only for those rents actually rece�vod. '
<br /> �',_ 11. Ev�nb of D�tault.The following shall constitute en Event of Defauit under this Deed of Trusk '
<br /> ` (e) Failute to pay any fnstailment ot pnnc�pal or �nterest ot any other sum secured he�eby when due;
<br /> - �, (b) A breaCh ot or detault under any prov�sion contained��the Note,this Oeed of Trust.any of Ihe Loan Instruments,or any
<br /> ' , "' ' omQr Uen or encumorance upvn ine rropn�iy.
<br /> (c) A writ of execution or attachment or any s�m�lar process Shali be entered aga�nst Trustor wh�ch sh81i become a lien on
<br /> , � the Property or any portlon thereof or interest:here�rr
<br /> �' (d) There shali be ttled by or agamst Trustor or Borrower an act�on under any present o�future tederal,state or other
<br /> R 1 statute,law or reguiation relating to bankruptcy,msoivency or other rel�ef tor debtors:or there shatl be appomted any trustee,
<br /> F reCefver or Ifquidator of Trustor or BorrOwer or ol ai1 or any part of the Property,or the rents,�ssues or prot�ls thereot.or Trustor
<br /> r• or Sorrower shalt make any generai assignment fcr the benef�t of cred�tors;
<br /> (e) The sale,tr8nsler,lease,assignment,Conveyance or further encumbrance of ali ar any part of or any interest �n ihe
<br /> R� Property, either voluntarfly or involuntariiy, without the express wntten consent of Lender: prov�ded Ihat Trustor shall be
<br /> � permitted to execute a Iease of the Property that does not conta�n an option to purchasa and the term ot wh�ch does not exceed
<br /> ono year.
<br /> • • � (Q Abandonment of the Property:or
<br /> � }
<br /> 1
<br />
|