|
OCT-05-2010 12:54 WESTERN NATIONAL BANK 785 244 6256 P.005i0a9
<br />2oioo�5s�
<br />Secured Debt is fully and finelly peid, Benaficiary agrees to release this peed of Trust end Trustor egrees to pay for
<br />any �ecordation costs. All such amounts are due on demand and will bear interest frnm the time of the advance at the
<br />highest rate in effsct, from time to time, as provided in the Evidence of bebt and as perrnitted by law.
<br />19_ ENVIRONMENTAL LAWS AND HAZARaDUS SUBSTANCES. As used in this section, (1) "Environmental Law" means,
<br />without limitation, the Comprehensive Enviranmental Response, Compensation and Liability Act (CEFiCI.A, 42 U.S.C.
<br />9801 et seq.), all other federal, state and locel laws, regulations, ordinances, court orders, attorney general opinions or
<br />interpretive lettsrs concerning the public health, safety, welfare, environment or a hazardous substance; and (2)
<br />"Hazardous 5ubstance" means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which
<br />has characteristics which render tha substance dangerous or potentially dangerous to the public health, satety, welfare
<br />or envirom�ent. The term includes, without limitation, any substance5 defined as "hazardous material," "toxic
<br />substances," "hazardous waste" or '"hazardnus substance"" under any Environmental Law, Trustor represents,
<br />warrants end agrees that, except as previously disclosed and acknowledged in writin�:
<br />A. Nn Hazardnus Sulastance has been, is, or will be located, transpnrted, manufactured, treated, refined, or handled
<br />by any person on, under or about the property, except in the ordinary course of business snd in strict
<br />compliance with ell applicable Environmental l.aw,
<br />B. Trustor hes not and will not cause, contribute to, or permit the release of any Hazardous Substance on the
<br />Praparty.
<br />C, Trustor will immedietely notify Beneficiary if (1► a relsase or threatened release of Hezerdous Substance occurs
<br />on, under or abnut the C'roperty or migrates or threatens to migrate from nearby prnperty; nr (2► there is a
<br />violation ofi any Environmental Lew conceming the Property. In such an event, Trustor will take all necessary
<br />remedial action in accordance with Environmental Law.
<br />D. Trustor has no knowledge of or resson to believe there is any pendin� or threatened investigation, claim, or
<br />proceeding of any kind relating to (1) any Hazardous Substence Incated nn, under ar about the Praparty; ar (2)
<br />any violetion by Trustor or any tenant of any Environmental Law. Trustor will immedietely notify Beneficiary in
<br />writing as snnn as 7rustor has reason to belisve there is any such pertding nr threatened investigation, claim, or
<br />proceeding. In such en event, Beneficiary has the right, but not the ohligation, to perticipate in any such
<br />proceeding including the right to receive copies af any dacuments relaTing to such prnceedings.
<br />E. Trustor and every tenant have 6een, are and shall remain in full compliance with any applicable Environrnental
<br />Law,
<br />F. There are no undergrounc! storage tanks, private dumps or open wells located on or under the Property and no
<br />such tank, dump or well will he added unless Beneficiary first consenis in writing.
<br />G. Trustor will regularly inspect the Property, monitor the ectivities end operations on the Property, and confirm
<br />that all permits, licenses or apprnvals required by any applicable Environmental Law are obtained and complied
<br />with.
<br />H. 7rustnr will permit, or cause any tenant to pe�mit, Beneficiary or Beneficiary's agant to enter and inspect the
<br />Property and review all records at any reasoneble time to determine (1) the existence, location and nature of any
<br />Hazardnus 5u6stanca an, under or about the Praperty; (2) the existence, lonatinn, nature, end megnitude nf any
<br />Hazardous Substance that has been released on, undsr or about the Property; or (3) whether or not Trustor and
<br />any tenant are in camplianca with applicable �nviranmental Law.
<br />I. Upon Beneficiary's request and at any time, Trustor agrees, at Trustor's expense, to engage a qualified
<br />environmental engineer tn prepare an environmental audit of the Praperty and to submit the resulcs of such audit
<br />to Beneficiary. The choice ofi the environmental engineer who will perform such audit is subject to Beneficiary's
<br />approval.
<br />J. Beneficiary has the right, but not the obligetion, to perform any of Trustor's o6ligations under this section et
<br />Trustor's expense.
<br />K. As a consequence of eny breach of eny representation, warranty or �rornise made in this section, (1) Trustor
<br />will indemnify and hold Beneficiary and Beneficiary's successars or assigns harmless from and against all losses,
<br />cleims, demands, liabilities, damages, cleanup, response and remediation costs, penalties and expenses,
<br />including without limitation all costs of litigation and attorneys' fees, which Beneficiary and Beneficiary's
<br />successors or assigns may sustain; and 12) at Beneficiary's discretion, Beneficiary may release this beed of
<br />7rust and in return Trustor will provide Beneficiary with collatersl nf at least equal value to the Property secured
<br />by this Deed of Trust withaut prejudice to any of Beneficiary's rights under this �eed of Trust.
<br />L. Nntwithstanding any of the language contained in this peed of Trust to the cnntrary, the terms nf this section
<br />shall survive any foreclosure or satisfaction of this Deed of Trust regardless of any passage of title to
<br />Beneficiary or any dispnsition by Beneficiery of any or all af the Property, Any claims and defenses tn the
<br />contrary are hereby waived.
<br />20. CONDEMNATION. Trustor will give Beneficiary prompt notice of any action, real or threatened, by private or public
<br />entities to purchase ar take any or all of the Property, including any easements, through candemnation, eminent
<br />domain, or any other means. 7rustor further agrees to notify Beneficiary of any proceedings instituted for the
<br />establishment of any sewer, water, canservation, ditch, drainage, or other district relating tn nr hinding upnn the
<br />Property or any part of it. Trustor authorizes Beneficiary to intervene in 7rustor's name in any of the above described
<br />actians or claims and to cnllect and receive all sums resulting from the action or claim. Trustor assigns to Beneficiary
<br />the praceeds of any award or claim fo� damages connected with a condemnetian or other taking af all or any part of
<br />the Prnperty. Such praceeds shall he considered payments and will be applied as pravided in this Desd af 7rust. This
<br />assignment of proceeds is subject to the terms ofi any prior security agreement.
<br />29. (NSURANCE. Trustor agrees to maintain insurance as follows:
<br />A. Trustor shall keep the I'roperty insured against (oss by fire, theft and other hazerds and risks reasnnably
<br />essociated with the Property due to its type and locetion. Qther hezerds and risks may include, fpr example,
<br />coverage against loss due tn flnnds nr flnnding. This insurance shall be maintained in the amounts and for the
<br />periods that Beneficiary requires. What Beneficiary requires pursuant to the preceding three sentences can
<br />change during the term of the Secured Debt. The insurence carrier providing the insurance shall be chosen by
<br />(pa,ye 6 of Bl
<br />
|