200805276 - Laserfiche WebLink

Browse

200805276 (HEREINAFTER REFERRED TO IN THE AGGREGATE AS "FUTURE ADVANCES"), (2) LOANS THAT MATURE AFTER A TERM OF YEARS, INCLUDING A TERM OF YEARS THAT MAY BE SUBJECT TO EXTENSION, AND/OR (3) LOANS THAT MAY CONVERT FROM SHORT TERM LINES OF CREDIT TO ONE OR MORE AMORTIZING LONG TERM LOANS WITH DIFFERENT MATURITY DATES, IN EACH CASE TO THE FULL EXTENT PERMITTED UNDER APPLICABLE LAW. 1.2 Duration of Deed of Trust. This Deed of Trust and all of the terms, conditions, and obligations contained in this Deed of Trust shall continue in full force and effect until such time as all indebtedness under the Note and all other Obligations have been fully and finally paid and performed, at which time this Deed of Trust shall be void, and Lender agrees to execute an instrument evidencing the satisfaction of all obligations under this Deed of Trust and releasing this Deed of Trust. 1.3 Future Advances. This Deed of Trust shall secure the Note and any and all future advances made to Trustor, by Lender. At no time during the term of this Deed of Trust or any extension thereof shall the unpaid and outstanding secured principal future advances, not including sums advanced by Lender to protect the security of this Deed of Trust, exceed the following amount: $200,000. This provision shall not constitute an obligation upon or commitment of Lender to make additional advances or loans to Trustor. ARTICLE 2 TRUSTOR COVENANTS Trustor covenants and agrees as follows: 2.1 Maintenance and Repair. Trustor shall: (a) maintain the Trust Estate and, to the extent allowed by law, abutting grounds, sidewalks, roads, parking, and landscape areas in good condition and repair, subject to reasonable and ordinary wear and tear, and free from actual or constructive waste; (b) pay all operating costs of the Trust Estate in the ordinary course of business, including utility costs; and (c) not do or allow any tenant or other user of the Trust Estate to do any act that materially increases the dangers to human health or the environment, poses an unreasonable risk of harm to any Person (whether on or off the Premises), impairs or is reasonably likely to impair in any material respect the value of the Trust Estate, is contrary to any law, or violates in any material respect any covenant, condition, agreement or easement applicable to the Trust Estate. 2.2 Alterations and Improvements. Trustor shall not make nor permit to be made any alterations to the Trust Estate without the prior written consent of Lender, which consent shall not be unreasonably withheld or conditioned. All alterations and additions shall be undertaken and completed at Trustor's sole expense. 2.3 Condemnation. All judgments, decrees and awards for injury or damage to the Trust Estate, and all awards pursuant to proceedings for condemnation thereof, are hereby assigned in their entirety to Lender, who may apply the same to the Obligations in such manner as it may elect; and Lender is hereby authorized, in the name of Trustor, to execute and deliver valid acquittances for, and to appeal from, any such award, judgment or decree. Immediately 4820-8559-3602.1 4