|
200503788
<br />permitted by law, and Grantor or any other holder of this Deed of Trust shall ever receive as interest on the
<br />Loan an amount which exceeds the maximum amount of interest permitted by applicable law, such excess
<br />amount shall be applied to reduction of the principal amount owing on the Loan so as to fully and strictly
<br />comply with such law. All sums paid or agreed to be paid to Beneficiary for the use, forbearance or
<br />detention of the indebtedness secured hereby shall, to the extent permitted by law, be amortized,
<br />allocated, prorated and spread throughout the term of the Loan so that the actual rate of interest is
<br />uniform throughout said term and does not exceed the maximum rate permitted by applicable law.
<br />37. Evasion of the Prepayment Penalty. If Grantor is in default, any tender of payment sufficient
<br />to satisfy all sums due under the Loan Documents made at any time prior to foreclosure sale shall constitute
<br />an evasion of the prepayment terms contained in the Note, if any, and shall be deemed a voluntary
<br />prepayment.
<br />38. Payment of New Taxes. If any federal, state or local law is passed subsequent to the date of
<br />this Deed of Trust which requires Beneficiary to pay any tax because of this Deed of Trust or the sums due
<br />under the Loan Documents, then Grantor shall pay to Beneficiary on demand any such taxes if it is lawful
<br />for Grantor to pay them. If it is not lawful for Grantor to pay such taxes, then at its option Beneficiary may
<br />declare a default under the Loan Documents.
<br />39. Acceptance By Trustee. Trustee accepts this Trust when this Deed of Trust, duly executed and
<br />acknowledged, is made a public record as provided by law. Trustee is not obligated to notify any party
<br />hereto of any pending sale under any other deed of trust or of any action or proceeding in which Grantor,
<br />Beneficiary, or Trustee shall be a party, unless brought by the Trustee.
<br />40. Substitution of Trustee. Beneficiary may at any time discharge the Trustee and appoint a
<br />successor Trustee who shall have all of the powers, duties, authority and title of the original Trustee.
<br />Appointment of a successor Trustee shall become effective upon filing for record in the office of the County
<br />Recorder of each county in which said Real Property is situated a Substitution of Trustee. Each such
<br />substitution shall be executed and acknowledged, and notice thereof shall be given and proof thereof made,
<br />in the manner provided by law.
<br />41. Environmental Compliance and Indemni . Grantor represents and warrants to Beneficiary
<br />that to the best of Grantor's knowledge after due and diligent inquiry, which inquiry consists of, and
<br />except as disclosed by, the Environmental Site Assessment provided to Beneficiary in writing prior to
<br />closing the Loan, neither the Real Property nor any improvements thereon presently contain asbestos, or
<br />signs of water damage or mold in any form and, no hazardous or toxic waste or substances are present or
<br />being stored on (or located in the soil, groundwater, surface water or waterways) at or under the Real
<br />Property or any adjacent property in quantities or concentrations sufficient to require investigation,
<br />removal or remediation under the Environmental Laws (as hereinafter defined), nor have any such
<br />quantities or concentrations of waste or substances been stored or used on the Real Property or any
<br />adjacent property prior to Grantor's ownership, possession or control of the Real Property, nor are any
<br />underground storage tanks (whether or not in use) located in, on or under any part of the Real Property.
<br />Grantor agrees to provide written notice to Beneficiary immediately upon Grantor becoming aware of
<br />any underground storage tanks on the Real Property, or that the Real Property or any adjacent property is
<br />being or has been contaminated with hazardous or toxic waste or substances. Grantor will not cause nor
<br />permit any activities on the Real Property which directly or indirectly could result in the Real Property or
<br />any adjoining property becoming contaminated with hazardous or toxic waste or substances. For
<br />purposes of this Deed of Trust, the term "hazardous or toxic waste or substances" means asbestos, urea
<br />formaldehyde foam insulation, flammable explosives, radioactive materials, hazardous materials and
<br />petroleum and its refined products, and any substance or material defined, regulated, controlled, limited,
<br />prohibited or classified as hazardous or toxic wastes, hazardous or toxic material, a hazardous, toxic or
<br />Dofr- Nebraska -12/04 NC LGL 11 Symetra Loan No, SBOIA 508
<br />
|