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<br /> � 6.1I.S5 Filc No. Ei3F3 ---
<br /> �rer;�.
<br /> �6- �0�l�1
<br /> Se�:tion 1.Q2. j�tk of Tr�. Trustnr has, siibject to Permitted Encun�brances se2 forth in
<br /> �xhlbit "A" herEta, in its own right, goad, mark�tablo and indefeasible title in fee simple to the
<br /> Mortgaged praperty,which is free from encum�rai�te su�e�ior t�c��e encumbrance of this L?e�l nf ,
<br /> Trust and�as full right to make this canveyance.
<br /> Section 1.03. . To complete in good and workmanlike manner
<br /> any bufiding or improvement or repair refatfng thereco which may be begun on the Praperty or
<br /> coretemptated!�y the loan sc�:ured hereby,to pay when due all costs and IiabiliEies 9ncurred therefor,
<br /> and not to permit any mach�nic's or materialmen's lien against the Propertyr. Trustor also agrees,
<br /> anything in this Deed of Tru:,Q to the contrary natwithstanding:
<br /> (a) to promptly commence work and to complete the proposed improvemerets
<br /> promptly;
<br /> (b) to complete sarne in accosdance with plans and specificatlons as approv�ci l,y -
<br /> Beneficiary;
<br /> (c) to comply with all of the terms of any Building Loan Agreement between
<br /> Trustor and BenefiGiary;
<br /> (d) to allow 8eneficiary to inspec:t the Prnperty at al)times during construction;and
<br /> (e) to replace any wodc or mat��ials unsaiisfactory to Beneficiary,within fifte.en(15)
<br /> days after written notice fmm Beneficiary of such fact,which notice may be given ta Trustor
<br /> bY registered or certi�ed mail,sent to its iast icnown aciaress,or by F�ei���a���iL��,:t��.,.:or:.
<br /> �i�j,p,q, • ' ' . Trustor shalL• (iy keep the MoiS���d Property
<br /> in good candition and repair,subject to re�sonable and orclinary wear and tear,not remove,demolish
<br /> or substaritiaNy alte.r(exc�pt such alterations as may be requirec+by laws,ardinances or regulatior�s� .
<br /> any of the Im�xo�vements;(ii)rnmplete promp�tly and in good and workcnarnli�Ce manner any buildin�
<br /> or other improvement which may be constructed on the Property and promR�tly resterQ in like manner
<br /> any tmnrnverropnt which may be damaged or destray�!thereon,subject ta the provisions of Section
<br /> 1.07,and to pay when due aIl claims for labor performed and mater+als furrmished thereior,f iii}�umNiy
<br /> with all laws,o�iinances,regulations,covenants,conditions and restrictia�s now or hereafter affecting
<br /> • the Mdngaged Property,or any part thareof, or requiring any alterations or improvements; not tn
<br /> � commit or pecmit any waste or deterir�Nori of the Mortg,agecl Propercy;(iv)keep and tr�a9ntain abutting
<br /> ' gounds,sidewalks,roads,parking and landscape areas in 800d and neat order and rt�a+r;(v)comply
<br /> with the provisi�ans of any lease, if ihis Deed of Trust is on a leasehold;and(vi)nat coitnmit,suffer or
<br /> permit any ac�I;.to be don�e+n or upon the Mortgag�:d Property in violatlon of any law,ordinance or
<br /> regulation. " � , �
<br /> Sectiac��1.05. �,ieou� ire�! �nsu��hce. Trustor shall prov�de, mai�tain and keep at all times in —
<br /> ��orce the follnwing poliei�s of insurance: �
<br /> (a) Insurance ag�snst(oss or damage to the Improvements by fire and any of the
<br /> � ��� risks cover�cl by insuranc�•�'�the type now known as"fire and extended�coverage" in an
<br /> amount not Ies�.i�an the original amount of the Promissory Note or the full reNlacement cost
<br /> of the Improv�:a���e+ats and Persona) Properry,whichever is greater;and with a dedvctible from
<br /> tiee loss�aay�bte for any casua�ty in amaunt,acceptable to Bencfit6ary. The poticics of insur-
<br /> anc���arricd in accordance with this subparagraph (a)shall contafn the "Replacement Cost ,
<br /> Et�cloz5snient";
<br /> �b) �.ass of rent insaranc��c�r�at least slx(6)months; '. �
<br /> •tc1 Commerc'sat;��neral lial�ility insuranee(including coverage�o,�levators and , ,
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<br /> E'SCdldtllt5�if any,On ille Ivfo7Tg-dge[a rrt�rerty as�u,n a�ry a.anav....�,......... ...... ....r•---..__.__ . , _
<br /> oocurs after execution of this Oeed of'Trust,complete8 operations coverage for two years aft�r
<br /> construction o6 the Improvements has been completedl on an"aocurrence basis"against claims
<br /> for"persoreal injury," is�cluding,without limitation,bodfly injuiy,death or prop�rty damag�
<br /> occur�ii�g on, in or about the Mortgaged Pro�erty and th�adjoining streets, sidewalks ar+d
<br /> passageways,such insuraic�to afford immediate minimurn protection to a limit satisfactory td
<br /> Benc�fcia►y and in no event le�s than�1,000,00(1.00 with res�ect:o personal injury or death
<br /> to any one or more persons or damage co properry;
<br /> (d) Worke�s'compensation insurance(including employer's liability insuranee,if.
<br /> required by Beneficiary) fnr all employees of Trustor �r�g:�qed on or with respect to the
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