|
DEED OF TRUST
<br />Loan No: 775915 (Continued) 200213762 Page
<br />Duty to Maintain. Truster shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Truster represents and warrants to Lender that 111 During the period of Truster's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, 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, lal any breach or violation of any
<br />Environmental Laws, be 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 o occupants of the Property, or Itl any actual or
<br />threatened litigation o claims of any kind by any person relating to such matters; and (S) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Truster nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, Including without limitation all Environmental Laws. Truster authorizes Lender and its agents to enter upon the Property
<br />to make such inspections and tests, at Truster's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Degq of Trust. Ady inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility q) liability on the part of Lender to Truster or to any other person. The representations and
<br />warranties contained herein are based on Truster's due diligence in investigating the Property for Hazardous Substances. Truster
<br />hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to Indemnify and hold harmless Lender against any and all claims, losses,
<br />liabilities, damage., penalties, and expenses which Lender may directly or Indirectly sustain or suffer resulting from a breach of this
<br />section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release
<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 indemnity, shall survive the payment of the
<br />Indebtedness and the satisfaction and reconveyance of the Ilan 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. Truster shall not cause, conduct or permit any nuisance nor commit, permit, o suffer any stripping of or waste on
<br />or to the Property or any portion of the Property. Without limiting the generality of the foregoing; Truster will not remove, or grant to
<br />any other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, sail, gravel or rock products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Truster shall not demolish or remove any Improvements from the Real Property without Lender's prior
<br />written consent. As a condition to the removal of any Improvements, Lender may require Truster to make arrangements satisfactory
<br />to Lender 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'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 n effect, of all governmental authorities applicable to the use or occupancy of the Property, including without limitation, the
<br />Americans With Disabilities Act. Truster may contest in good faith any such law, ordinance, or regulation and withhold compliance
<br />during any proceeding, Including appropriate appeals, so long as Truster has notified Lender in writing prior to doing so and so long as,
<br />in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender may require Truster to post adequate security
<br />or a surety bond, reasonably satisfactory to Lender, to protect Lender's interest.
<br />Duty to Protect. Truster agrees neither to abandon or leave unattended the Property. Truster shall de 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. The fallowing provisions relating to the taxes and liens on the Property are part of this Deed of Trust:
<br />Payment. Truster shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including
<br />water and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done
<br />on or for services rendered or material furnished to the Property. Truster shall maintain the Property free of all liens having priority
<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 Deed of Trust.
<br />Right to Contest. Truster may withhold payment of any tax, assessment, or claim in connection with a goad 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 />Truster shall within fifteen It 51 days after the lien arises or, it a lien is filed, within fifteen (15) days after Truster has notice of the
<br />filing, secure the discharge of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or
<br />other security satisfactory to Lender in an amount sufficient to discharge the lien plus any costs and attorneys' fees, or other charges
<br />that could accrue as a result of a foreclosure or sale under the lien. In any contest, Truster shall defend itself and Lender and shall
<br />satisfy any adverse judgment before enforcement against the Property. Truster shall name Lender as an additional obligee under any
<br />surety bend furnished in the contest proceedings.
<br />Evidence of Payment. Truster shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and
<br />shall authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments
<br />against the Property.
<br />Notice of Construction. Truster shall notify Lender at least fifteen (15) days before any work Is commenced, any services are
<br />furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or ether lien could be asserted on
<br />account of the work, services, or materials. Truster will upon request of Lender furnish to Lender advance assurances satisfactory to
<br />Lender that Truster can and will pay the cast of such improvements.
<br />
|