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<br /> : � � d��a1.-199& DEED 0F T�itJ�T C� .�r ������ Pa�o 2
<br /> , Lo��,P!a a767s (Continued) '°�
<br /> �,._:-...—:... .-_.- -... .----__-�---------=------ -----.�—. ----.—_ - ---__��: --- _. I
<br /> THI'J QF..E[1 OF TRUBT, INCLWI{dQ TFiL ABSItiNMENT OF RENT9 AND THE SECURITY 1MTEREOT IH TPfE RENTB AN�PHR60NA1. I
<br />_ „ PROPERTY,18 t#IVEN TO BECURE (1)PAYMENT OF Ti1�IND�TEqNE89 AND (2)PERFOF7MAHCE OF AHY AHD ALL OBLIQATIOH9 Of •
<br />,�„,: , TRUSTpii UNI�R Tf1E NOTE,7FIE RELATEtf DOCUMENT3,AliD THl9 DEED 0�TRU9T. THIB OEED OF TiiUSY 19�IVEN Arlp ACCEPTEfI
<br /> ;. ON TII�FOLLOWIND TERMB: I '
<br />`: .�F''� PAYMENT AND PERFORMANCE. Excopt ss otherwlse provlded!n Ihts Dood of Trust,Trustor shflll pay to Lendor all amounts SeCwpd 6y thls Daed �
<br /> p1 Tru9f e�tA�y t��cDma duo,and shsll Ntrlctty nnd In a tim�ly manncr poiform all of Trustor'e obliflallons under ihe Note,ttils Deetl ot Trust,end Ine '
<br /> Ralated Oc�curn�nts.
<br /> � � POSSESSION AND MAIHTENANCE tlF TFiE PROPEATY. Trustor egrees thet Trustor's possesslon and use of tho Propery sh�ll tre governod by
<br /> Iho tollOwiny provlslons:
<br /> ' � •l�"', VOeses�lon Yv.l Uss. Until ihe occurrence�f en Event of Default,Trusfor may (&)remain In possesslon flnd control of the Proparly, (b)uso,
<br /> opor8l�a or menage Ihe Property,end (a)collect eny Rents Irom Ihe Property.
<br /> Cuty to M&lntein. Trustor ehall meintaln the Property In tenent8ble conditlon end prompfly pertorm all rapalrs,replacements,flnd m¢IntonnnCO '
<br /> nocessary fo preserva tts value.
<br />; htaz�rdOU�SubstanCes. Trustor represents end warrants Ihat fhe Property never has been,and never will be so lonp es this Deed of Trust
<br /> remains a lien on the Proporl�r, used tor the general'on,manufacture, storage,heatntont, disposal, reloase or threatened releasa of any •%,'
<br />, harardou9 wasto or substance,as those terms are defint+d In the Comprehensive Environmentul Response,Compensation and Llabtlity Act of �`!;`,�'
<br />_ 1980,as emended,42 U.S.C. Sectlon 9601,et seq. ('CERCLA�,tha Superfund Amendments and Reauthorization.Qct{•SARA"),appLCable ��'�
<br /> stata or Federel laws,or reQulaHOns adopted pur6uant to any ot the foregoing. Trustor authorizes Lender gnd Its agenis to enler upon the � ��.'�'
<br /> • � Property to malce such InspecHOns end tests as Lender muy deam appropriate tp determine compllance pf ths Property wiih ihis seciion 01 the �� ;�``
<br /> y, � ,. peed af Trust. 7rustor ht,reby (a)relgase9 and walves any fufure cla�ms aflalnst l.onder fa indemnity u canhibuflon In ihe pveni Trustor � r�� � .
<br /> � '; ;;,;�'':.ti�. bocomes Na�!e tor cWnnup or oth�r co:it,undor any suct�laws,and (b}agrees lo indemnity and hold harmiess Lender apainst any end all � � •���
<br /> �. ;:,„•,�.'..,�;;,;;: clalms And lossos rwuNing ham a bronch of thfs ppr�eraph o!the Deed of Trust. This obiigation to Indamnity shall servive the payment Of the • • -
<br /> Indebtednesu and the snHSiar,tfon of thls Deed of Trust. �
<br /> '; ;ji��; •�, . �
<br /> ��' ,� ��" NNsanca,Wa9tt. Tru3tor shpll not cause,conducl or permit eny nulsance nor commii,permit,or suHer any stdpping of or waste oy or to the
<br />,;.Y Property or any portion of the Property. Without Ilmiting the peneratlty ot the toregoing,Trustor will not remove,or grsn!to an;e+.he•ra�,�he - '�'.•„y"��'�x'"•'
<br /> riphi lo remove,any timlier,min9rats(Inctuding oil end gfls),soll,gravel or rock products without the prfor wdtten consent o}Lendet, � � �
<br /> DUE ON SALE- COHSEN7 BY LENDER. Londer may,at Its optlon,declare Immedfateiy due and payable all sums secured by thls Deed of Trust s'1',''�'�`
<br /> upon the sale a transter,wlihout fhe Lender's pdor wdtfen consent,of all cu any part of the Real Property,or eny Interest lu the Real Properry. A �;� �
<br /> "�,,alg or fransier mesns fhe conveyanCa of Real Property or any rlpht,tlllo pr Interest thernln;whether lepal,beneNClal a equlttbla;whether vohmtAry ?����
<br /> ' ` or Involuntary;w1�eli�or by outripl�l ealo,deed,Insttliment sale contracl,l8nd conhact,contract tor deed,IeasehWd Intarest with e feim preater than , '
<br /> '��� fhree(3)years,laese-optlon contract,or by e�b,�ssfgnmenf, a trqnsler o}any bdneflClal Interssf In or to my I�nd trust holdinp title lo the Reil '
<br /> PropeAy,or by ony other method o}convsyance of Retl Property Interesf. If�ny Trustor Is a corpor�tlon,ptrtnerohip pr Ilmited Il�bftity Comp�ny, ,J
<br /> fransfer tiso Includes nny chonye In owrwrbhlp of more than fwenty-five percent(26%J of fhe votinp stpck,partnsrship Intare9ts or Ilmited Iltbllity ' �
<br /> compsny Intere�ts,e�the aso mey bo,of Trustor. However,thls opllon ah�l1 not be exerclsed by Lande►if auch exerclse is orohmitAd nv rnno.ai
<br />, ,:�r,r L�t:�r.6�o�:.�. • -- -• ___._ .�,
<br /> TA%H8 AND LI�M9. The tollowiny provislons reletinp to Ihe taxea end Ilens on the Property are a pflrt of thls Doed o1 Trusl. ,j�•
<br /> P�ym�nt. Truetor shall pay when due(nnd In all events pdor to detlnquency)all tares,speclal texes,assessments,charges(Includlny water �e.
<br /> • �nd sewer),flnes end Imposi(lons IAVIed�painst or on aCCOUnt ol the Property, and shall pey whon due all clalms tor�vork done on or for '
<br /> servlces rendered or matenal(urnlshed to the Proporty. Trustor nhall mnlnte�n the Proporty iree of ell Ilens having priorily over or equal to the �
<br /> Int2rest cA lender under this Doed of Trust,except far the Ilen of taxes end sssessments not due and except as othervvise provlded In this Deed ,�.:��'
<br /> ,. o!Trust. ,
<br /> �r� �.�
<br /> , PROPERTY DAMAt3E IWSURANCE. The follow�ng proNSlons relntinfl to Insudng fhe Properly are a p&rt of this Deetl of Trust. �" :�-
<br /> Myntenanee of Insurance. Trustor shall procure end maintaln policles of flre Insuranco wlth standard oxtended coverage endorsaments on a ..+��
<br /> repincement basis(or the full Insurable velue covc+ring all Improvoments on the Real Property In an emaunt suHicient fo avold eppltcatlon of any � ;
<br /> colnsurenCe clause,and with e stendard morfgagee clause In fava of Lender. Grentor shall also procure and malntam comprehenslve generei i'.s�
<br /> I�flbllity Insurance In such caverage amounts ns Lctnder m8y request with trustee snd Lendor being named es additlonal Insureds In such Ilebllity � �,,.:��c�i�
<br /> InsurAnoe pot{cles. Addilionalty,Grentor shall malntntn such other Insurance,Including but not Ilmitod to he7ard,buslness Interrupflon,end "�
<br />� boiler Insurence,as lender may roasonably require. Policles shell be wr(tten In form,amounts,coverages and basis reasonably acceptable to �;�i�"�
<br /> Lender and Issued by a company or campanies�Basonably flcceptable to Lender. Trustor,upon request of Len�er,wul deliver to Lender hom ''=�'���"�-•
<br /> , Hmo to tirtro the pollcios or certl8cates of Insurance In 4orm setisfeClory to Lendor, InCluding stipuiations that coverages will not be Cancelled or �.•n..e��
<br /> „ dlminlshed without et loast ten(10)days'prla written v�ot�e fo Lender. Eech Insurance policy elso shall Include an endorsemont providing that
<br /> Coverege In f8vor of Londer wfll not be Impflired In eny way by eny flCt,oml55ion Or default of(3rantor or uny other person. Shauld the Rpal �
<br /> . � f'roperty at any time become located In an area deslgnated by the Dtrector of ths Federal Emergency Management Agency as a speclal Bood
<br /> hezard eree, Trustor agrges to obfaln Qnd malntefn Federel FlOOd InsuranCe to the extent suCh Insurance IS required by Lender and Is or
<br /> beCOmes evallable,for the term of the loun and ta the full unpeld principal batance of the loan,or the mnximum Ilmit of coverage that is '
<br /> = evelleble,whlChever IS less. i � :,� '"
<br /> E%PENDITURE$BY LENDER. I}Trustor(alls to comply witt�eny provislon of this Deed of Trust,or if any action or proceeding Is commenced thnt ���'
<br /> . � � wouid matorlally aNeCt Lendar's Interests In the Property,Lender on Trustor's behalf rnay,but shall not be required to,teke eny actlon that Lender '
<br /> deems approprlata. Any nmount that Lendor expends in so ddng wiil bear Interest st the rate charged under fhe Note irOm Iho dnto Incurred or ald I e.- %
<br /> . by Le��dor to Ihe date of repaymont by Trustor. All such expen:es,at Lenders option,wlll (a)be pflyable on demund, (b)be added to the bnlence �
<br /> of iho Noto end be epportlonod among and be payable wlth eny installment payments to become due during either (I)tha term of any eppllcable ( '
<br /> • Insurence pollcy or (II)the remalninp term of fho Note,or(c)be troated as a bnlioon paymsnt whlch wlll be due snd payabla at the Noto's mnturity. � �
<br /> � Thls Deed of T►ust elso will socure payrent of these amounts. The rights provlded for In this paragraph shall bo In addition to any other riphts or any I
<br />_ . • remedles to whlch Londer may bo enNfled on account of the defaull, Any such actlon by Lender shall not be construed as cudng the detaull so e9 to ;
<br /> � `' � bar Londer trom eny remady thnt It othorvviso would have had.
<br /> �. WARRANTY;DEFENSE OF TIT1.E. The following provlslons relating to ownership ot the Property are a part of thls Dund of Trust.
<br />= TIt1e. Trustor warrants that: (a)Trustor holds good ertd marketable title af record ta the Property In fee simple,lree and clear of all Ilons and I
<br /> .: oncumbranst+ss other Ihan thoSO Set forfh In the Real Property descdpllon Or In nny tHlo Insurence poi�y,title report,or final title opinfon issuad In ;
<br /> , fIIVOr ot,and accoptod by,Lendor In conneclion wifh thlS Deed of Trust,nnd (b)Trustor has the full ripht,power,nnd uuthonty to oxocufo und '
<br />- daliver ihts Deed of Trust to Landar.
<br />' �eten8e Of Tltle. SubJect fo Iho excttption In the perflgraph abovo,Trustor warcflnts and wili forever dotend tho titlu fo t7e Properiy npalnst iha �
<br /> :' Iuwlui clnlms af all persons. ;
<br /> DEFAU.T. Earh of ihe followlnp,ef the option of Lendor,shall constltute an evenf of default('fvant of DefnWt")under thls Deed of Trust:
<br />- Deteult On Indebtednes�. Fallure of Trustor tu make any p�ymont when due on the Indebtednoss.
<br />_ - - - �� - - vc�aia on uinbr rqmarrts. raiiure oi irusior witnm tfle tirne reqWred by thls Deed o(Trust to make any payment for ttixes or Insuranco,or �
<br />_ uny olhor peymont nacessary to provent liling ot or to aHect dtscharpe of any Ilen. i
<br />_ � � CnmpdaaCe UelBUit. Fallure to comply with Any other term,obit8flflon,covenunt or condlfion Contalned In thls Deed of Trust,Ihe Noto ar In �
<br />- nny of tho Related Docum¢nts. '
<br />--- , Dealh ot In101VenCy. Tho deuth of Trustor or the dissolutlon or terminatfon of Trustor's oxislonco as a gatng business. ihe insolvoncy ot �
<br /> _ = Trusror.thn annnirAma�f r,�e^�elvor for uny pnrt o}Trustor's propody,any nssipnment for Ihe benen►or creairors,any rype of creditor workout.
<br /> or tho commonaomont ot any proCeeding under any benkruptcy or Insolvency laws by or eppinst Trustor.
<br /> Evanis Affectinp Guarentor. Any of the proceding events occurs with respect to any Guarantor of any ot the Indobtodness or such GunrAnlor
<br />_ . �� • dlos or becomos Incompetant, Lender,at Its optfon,may,but shall not bo requlred to,permit tho Guarantor's ostuto to essumo uncontlitloneily
<br />• the obllgutlor�arlsing undor tho guarnnty In a manner satlslactory to Lender,and,In doing so,curo the�vent of Dotault. !
<br />- Ii�sECUrlty. londor In good talth doems Itself Insecure.
<br />•— • RIG{HTS AND REMEDIES ON DEFAUI.T. Upon the occurcence of any Event of Delault and at eny tima therett(ter,Trustee or Lentler,ot ils opUon,
<br />,— may oxarcise eny one o�moro of tha lotlowtng rlghts and remedles.In additlon to any other Hghts or remedles provided by law:
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