87101503 - Laserfiche WebLink

Browse

I L M 87-- 101503 (c) The payment of any additional sum or sums of money with interest thereon which may be hereafter paid or advanced under the terms of this Deed of Trust; and (d) The payment of any future advances necessary to protect the security; and (e) The payment of any future advance made at the option of the parties; and (f) The performance of an obligation of any other person named in this Trust Deed to a beneficiary. TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR HEREBY COVENANTS AND AGREES AS FOLLOWS: 1. Payment of Principal and Interest. Trustor shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Note, and all other charges and fees as provided in the Note, and the principal of and interest on any Future Advances secured by this Deed of Trust. 2. Warranty of Title. Trustor is lawfully seized and possessed of good and indefeasible title and estate to the Property hereby conveyed and has the right to grant and convey the Property; the Property is free and clear of all liens and encumbrances except liens now of record; and Trustor will warrant and defend the title to the Property against all claims and demands. 3. Maintenance. Trustor shall keep the Property in good condition and repair and shall not commnit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. No improvement now or hereafter erected upon the Property shall be altered, removed or demolished without the prior written consent of Beneficiary. Trustor shall complete or restore promptly and in good workmanlike manner any improvement on the Property which may be damaged or destroyed and pay, when due, all claims for labor performed and materials furnished therefore and for any alterations thereof. 4. Compliance with Laws. Trustor shall comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the Property and not commit, suffer, or permit any act to be done in or upon the Property in violation of any law, ordinance, regulation, covenant, condition or restriction. 5. Insurance. Trustor, at its expense, will maintain with insurors approved by Beneficiary, insurance with respect to the Improvements and personal property, constituting the Property, against loss by fire, lightning, tornado, and other perils and hazards covered by standard extended coverage endorsement, in an amount equal to at least one hundred percent (100 %) of the full replacement value thereof and insurance against such other hazards and in such amounts as is customarily carried by owners and operators of similar properties es n Ben F... �_��.�._ ....� a.��. =i iary iFay requite for its protection. -°-° Trustor will comply with such other requirements as Beneficiary may from time to time request for the protection by insurance of the interests of the respective parties. All insurance policies maintained pursuant to this Deed of Trust shall name Trustor and Beneficiary as insureds, as their respective interests may appear, and provide that there shall be no cancellation or modification unless at least fifteen (15) days prior written notification thereof is actually delivered a to Trustee and Beneficiary. In the event any policy hereunder is not renewed on or before fifteen (.15) days prior to its -2-