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200206320
<br />DEED OF TRUST
<br />Loan No: 773570 (Continued) Page 2
<br />secured by this Deed of Trust as it becomes due, and Borrower mud Truster shall strictly perform all their respective obligations under the
<br />Note, this Dead of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE Of THE PROPERTY. Borrower and Truster agree that Borrower's and Truslor's possession and use of
<br />the Property shall be governed by the following provisions:
<br />Possession and Use. Until the o m "
<br />of an Event of Default, Truster may (1) remain a n possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Out, to Maintain. Trustor shall maintain the Property In tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance nocessary to preserve its value.
<br />Compliance With Environmental Laws_ Trustor represents and warrants to Lender that: (1) During the perind of Truster's ownership
<br />of the Property, there has been no Ma, generation, n nufacttae, storage, treatment, disposal, release or truculened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, o r reason to believe
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<br />that there has been, c cart as previnusly disclosed to and acknowledged by Lander it writing, (a) any breach or violation of any
<br />Environmental Laws, (bl any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prim o occupants of the Properly, or c) any actual or
<br />threatened litigation o claims of any kind by any parson relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender In writing, (a) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, ac ".facture, .store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and bs any such activity shall be .."ducted in compliance with all applicable federal, slate, and local laws, regulations and
<br />ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender agdMa agents to m ese upon the Property
<br />to "rake such inspections and tests, at Trustor'e ,.Pont. as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Dead of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and
<br />warranties contained herein are based on Truetor's due diligence in investigating the Property for Hazardous Substances. Trustor
<br />hereby (t) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cloareup or other costs under any such laws; and (2) agrees to hWemnify and hold harmless Lender against any and all cluinns, losses,
<br />liabilities, damaged, Vormin. , and expenses which Lender may directly or Indirectly sustain o suffer resulting from a breach of this
<br />action of the Deed of Trust or a se,pirri of any use, generation, manufacture, storage, disposal, release or threatened release
<br />occurring prior to Trustor's ownership or l
<br />Interest in the PrcPcrtV, whether o not the same was o should have been known to Trustor.
<br />The provision, of this section of the Dead of Trust including the obligation to indemnify` shall survive the payment of the
<br />Indebtedness and the saaefactine and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition
<br />of any interest in the Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any n commit, permit, or suffer any stripping of or waste on
<br />coo ern; eom
<br />a toad u Property a any portion a the Property. Without limiting they it and of the foregoing, Trustor will not remove, or grant to
<br />any other party the right to r any richer, minerals (including oil and gov), veal, clay, snnria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Trustor shall not demolish or any Improvements from the Real Property without Lender's print
<br />written consent, Asa cundition in the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory
<br />to Lender to replace such h"provements with Improvements of at least equal value.
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to
<br />attend to Lender's interests and to Inspect the Real Property for purposes of Trustor's compliance with the terms and conditions of
<br />this Deed of Trust.
<br />Compliance with Governmental Requirements. Truster shall promptly comply with all laws, ordinances, and regulations, now or
<br />hereafter in effect, of all governmental authorities am icali to the use or occupancy of the Property. 'meludiny without limitation, the
<br />Americans With Disabilities Act. Trustor may contest in goad forth any such law, ordinance, or regulation and withhold compliance
<br />during any proceeding, including appropriate appeals, so long as Trustor has notified Lender In writing Prior to delta, se and so long as,
<br />in Lender's sole opinion, Lender's in prests in the Property are not jeopardized Lender may require Truster to post adequate security
<br />or a carets bond, reasonably saislau Wry to Lender, to protect Landor's Interest.
<br />Duty to Protect Trustor agrees neither to abandon or leave unattended the Property. Trustor shall do all other acts, addition to
<br />those acts set forth phew, in this section, which from the character ad use of the Property are reasonably necessary to protect and
<br />preserve the Property
<br />Construction Loan. If some or all of the protects of the loan creating the Indebtedness are to be ased,.tu construct or mplete
<br />miruction of any Improvements on the Property, the Imprueumenls shall be completed no later than the maturity date of the Note
<br />(or such earlier date as Lender may reasonably establish) and Trustor shall pay in full all costs and expenses In connection with the
<br />ark. Lender will disburse loan proceeds under such terms and conditions as Lender may deem reasonably necessary to Moore that
<br />the interest created by this Deed of Trust shall have priority over all possible liens, including those of material suppliers and wnrkman.
<br />Lender may require, among other things, that disbursement requests be supported by receipted bills, expense affidavits, waivers of
<br />liens, construction progress reports, and such other documentation as Lender may reasonably request
<br />TAXES AND LIENS. The following provisions relating to the taxes and (lens on the Property are part of this Deed of Trust:
<br />Payment. Trustor shall pay when due (and In all events prior to inisa aencyl all taxes, special taxes, assessments, charges (Including
<br />water and s er), fines and imposdince levied against or on account of the Properly, and shall pay when due all claims for work done
<br />on or for services rendered or noturial furnished to the Property. Trustor shall maintain the Property free of all liens having priority
<br />equal to the interest of Lender under t m
<br />Top Dead of Trust, except far the lien of taxes and assessments riot doe and a eeP[ as
<br />mlrnerwise pmvided in this Deed of Trust.
<br />Right to Contest. Trustor may wuhhold payment of any tax, assessment, or alone in vonnoreirnn with a good faith dispute over the
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