200608869 - Laserfiche WebLink

Browse

11 +�sr� forever warrant and defend the same to the Beneficiary and the Beneficiary's successors and assigns against the claims of all Persons and parties whatsoever. The Trustor shall take no action nor shall it fail to take any action which could result in an impairment of the Lien of this Deed of Trust or which could form the basis for any Person(s) to claim an interest in the Trust Property (including, without limitation, any claim for adverse use or possession or any implied dedication or easement by prescription) other than Permitted Liens related thereto. If any Lien (other than a Permitted Encumbrance related to the Trust Property) is asserted against the Trust Property, the Trustor shall promptly, at its expense: (i) provide the Beneficiary with written notice of such Lien, including information relating to the amount of the Lien asserted; and (ii) pay the Lien in full or take such other action to cause the Lien to be released, or, so long as the lien of this Deed of Trust is not compromised, contest the same in accordance with the provisions of the Credit Agreement. From and after the occurrence of an Event of Default, the Beneficiary may, but shall not be obligated, to pay any such asserted Lien if not timely paid by the Trustor. 1.02 Payment and Performance of Obligations. The Trustor shall pay all of the Obligations when due and payable without offset or counterclaim, and shall observe and comply in all respects with all of the terms, provisions, conditions, covenants and agreements to be observed and performed by it under this Deed of Trust and the other Financing Documents. 1.03 Required Insurance; Use of Proceeds. The Trustor will, at its expense, at all times provide, maintain and keep in full force and effect policies of property, hazard and liability insurance in accordance with Section 5.9 of the Credit Agreement with respect to the Trust Property. The Trustor shall give prompt written notice to the Beneficiary of the occurrence of any damage to or destruction of the Improvements (which term as used in this Section 1.03 shall include Equipment) which constitutes an Event of Loss, to such extent such notice is required pursuant to either Section 5.2(f) or Appendix C of the Credit Agreement. In the event of any damage to or destruction of the Trust Property or any part thereof, all proceeds of property insurance paid to the Trustor or any other Secured Party on account of such damage or destruction shall be applied and/or reinvested as set forth in Sections 5.11 and 6.3(b) of the Credit Agreement or, after the Obligations have been accelerated or otherwise become due and payable, in accordance with the provisions of Article VI of the Account Agreement. In the event of foreclosure of the lien of this Deed of Trust or other transfer of title or assignment of the Trust Property in extinguishment, in whole or in part, of the Obligations, all right, title and interest of the Trustor in and to all proceeds then payable under any policy of insurance required by this Deed of Trust shall inure to the benefit of and pass to the successor in interest of the Trustor, or the purchaser or trustor of the Trust Property. 1.04 Condemnation. All compensation, awards, damages and proceeds paid to the Trustor or any other Secured Party on account of a taking by eminent domain, condemnation or by any proceedings, transfer or purchase in lieu or in anticipation of the exercise of said rights (a "Condemnation ") shall be applied and/or reinvested as set forth in Sections 5.11 or 6.3(b) of the Credit Agreement or, after the Obligations have been accelerated or otherwise become due and payable, in accordance with Article VI of the Account Agreement. 1.05 Transfers. Except as otherwise permitted in accordance with the terms of the Financing Documents, no part of the Trust Property or any legal or beneficial interest in the Trust Property shall be sold, assigned, conveyed, leased, transferred or otherwise disposed of 7