|
DEED OF TRUST
<br />Loan No: 774207 2002064.37 (Continued) Page 2
<br />entitled to a claim far deficiency, before or after Condom commencernant or completion of any foroolosum action, either judesally or by
<br />exam +se of a power of sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Indebtedness
<br />struirsed by this Dad of Trust as it becomes due, and Borrower and Truster shall strictly perform all their respective obliyalions under the
<br />Note, this Deed or Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Truster agree that Rerraweh. and Truelm's possession antl use of
<br />the Property shall be. governed by Lim fallowing provisions:
<br />Possession and Use. Until he occurrence of an Event of Default, Trustor may (1) remain in possession and control of the Property,
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Truster shop maintain the Property In tenantable condition and promptly perform all repoirs, replacements, and
<br />maintenance nwcssary to preserve its value.
<br />Compliance With Environmental Laws. Truster represents and warrants to Lender that (11 During the period of Trustor 's ownership
<br />of the Property, there has been no r e, generation, manufacture, storage, treabaont, disposal, release or threatened release of any
<br />Hazardous Substance by any person, ror under, about or from the Property; (2) Truster has no knowledge of, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, e) any breach or violation of any
<br />Environmental Laws, he 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 prior owners or occupants of the Property, or (is) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters: and (3) Except as prearedly disclosed to and
<br />acknowledged by Lender In writing, (a) norther Trustor nor ony tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, disperse of or release any Hazardous Substance on, under, about or from the Property;
<br />and h) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordimn acs, in luding without limitation all Environmental Laws. Truster authorizes Lender and its agents to enter upon the Property
<br />to make such inspectlans and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust. Any Inspections or tests muds by tender shall be for Lender's Purposes only and shall not be
<br />construct] to create any responsibility or liability an the. part of Lender to Truster or to any other Verson. This representations arid
<br />warrant" remained herein or based on Trustor's due diligence in Investigating the Property for Hazardous Substances. Truster
<br />hereby (t) releases and waives arty future claims against Lender for indemnity or contribution in the event Truster becomes liable for
<br />cleanup or other costs under any soon laws; and 12) agrees to indemnify and hold harmless Leander against any and all claims, lasses,
<br />habllltess, damages, penalties, and expenses which I antler may directly or indirectly manufacture, or suffer resulting n from
<br />t a breach release
<br />action of the Deed of trust or as a consequence of any use, generation, ma efnra disposal
<br />occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have been known to Truster.
<br />The provisions of this section of the Deed of Trust, including the obligation to indemnify, shall survive the payment of the
<br />Indebtedness and the satisfaction and re vcyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition
<br />of any Interest In the Properly, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall nut cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />or to the Property or any portion of the Poperty. Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />any other party the right to remove, any timber, minerals including ail and gas), coal, clay, scoria, soil, gravel er rock products
<br />without Lender's prior written es tsent.
<br />Removal of Improvements. Trustor shall not demolish or remove uny Imprmismants from the Real Property without Lender's prior
<br />written consent As a coral to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory
<br />to Lander to replace such Improvements 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 Truster 'a compliance with the terms and equaltions of
<br />this Deed of Trust.
<br />Compliance with Governmental Requirements. Trustor shall promptly comply witn all laws, ordinances, and regulations, now or
<br />hereafter In effect, of all governmental authorities applicable to the use or occupancy of the Property, including without Il renatmer the
<br />Arearcens Wain Disabilities Act Treater may .defeat in good t TI any such ow, rdina OF g larch and withhold len plance
<br />during any proceed y clud'eg appropriate appeals, so long as h' ' not f' d I d r n wrT g prior to doing . and so long as
<br />in Lender's sole opinion, Lender s interests in the Property an, not jeopardized. La eder may require Trustor to post adequate security
<br />or a surety bond, reasonably satisfactory to Lander, to protect Lenders interest.
<br />Duty to Protect. Trustor agrees neither to abandon or leave unattended the Property. Trustor shall do all other acts, in addition to
<br />those acts set forth above In this section, which from the character and use of the Property are reasonably necessary to protect and
<br />preserve the Property.
<br />TAXES AND LIENS. Tim following provisions relating to the taxes and liens on the Property are part of this Deed of Trust:
<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including
<br />water and sower), fines and Impasigons levied against or an account of the Property, and shall pay wban due all charms for work does
<br />on or for services rendered or material preened To the Property . Trustor shall maintain the Property free of all liens having pnorry
<br />over or equal to the Interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except as
<br />otherwise provided In this David of Trust.
<br />Right to Contest. Truatnr may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the
<br />obligation to pay, so long as Lender's interest In the Property Is not jeopardized. If a lien arises or Is filed as a result of nonpayment,
<br />Trustor shall within fifteen 116) days after the lien a,ads o , if a lien is filed, within fifteen 115) days after Trustor has notice of the
<br />filing, secure this discharge of the lien, m If requested by Lender, deposit with Lender upon or a sufficient corporate surety Hood or
<br />other security satisfactory to Lender in an amount sufficient to discharge this Gen plus any costs and atterneys'fees, or other charges
<br />
|