|
201007d95
<br />DEE� �F TRUST
<br />(Continued� page 2
<br />threatened fitigatbn or claims of arry kind by �ny person relating ta sur,h matters; and (3) Except as prevlously discEosed to and
<br />acltrtowlett�ed by Lender in writin�, (a) neither trustor nor any tenent, contr�cfor, agent or other aufhorized user cN the Propet'ty
<br />shall use, generate, manufacture, sEore, tr�at, dispose af or release any Hazardous Substance an, under, about.nr from the F'roperty;
<br />and (b} ar�y suah acthrity shall be conducted tn compliance with a11 appNa�ble federat, state, and Enc�l laws, regutakions and
<br />vrdinancas, inotucting wiq�out limitabion all �nvironmentat Laws. �rustor authorizes Lender and i#s sge�a ta er�ter upnn the Prnperty
<br />to make such inspectfans and tests, �t Trustar's e�ens�, as Lender may deem appmpriate to determine compliance of the Prvperty
<br />with this gection of the Deed of Trust. Any inspect(ons ar testa made by Lender shall he for L�nder's purpasc�s vniy and shall not be
<br />canstrr�d ta areate any responslbilliy ar Ifabfltty on the part of Lender to Trustor ar to a»y otE�sr person. The representations and
<br />warrantles contarined her�in are based on Tru�tot's due dillgenae in in�estiqating the Prap�'ty for Fiazarcious Subs#ances. Trustqr
<br />hereby (1) rel�ases and waivas any future claims aga►n�t Lsnder fnr indemniry nr contrlbutlon in th� �v�nt Trustor becarnes liable for
<br />cle�nup ar vther cpsta under any such laws; artd (2) agrees to indemntfy, defend, and hold harmless Lend�r against any and a11
<br />claims, losses, t��bilitles, damag�s, penaltees, and expsnssa whlch Lender may directly or lndlr�cdy sustain or suffer resulting from a
<br />breach af this sactivn aF the Deed df Trust ar as s conssquence Qf arry use, generatian, manufa�urae, storage, disposal, r�lsasa or
<br />threatened releasEr occurring prior to Trustar's awnarship or Interest in the Property, whether or not the same was or shnuld have
<br />baen kncwn to Trustcr. The prnvisians of this section of the beed aF Trust, induding the ohligatinn tn indemnify and defend, shaN
<br />survive the payrnent of the Indeb6�dnass and the satisfactian and reconvey�noe af the ilen ot' this Deed of Trust and shalE nat be
<br />affected by Lender's acquisitfan of any irrterest in the Property, whether by farealosure or otherwise.
<br />Nulsanoe, Wazte. Trustor shall nat cause, cnnduct or permit any nuisance nar commit, permit, or sufier any slrip�aing aF or waste on
<br />or to the Praperty or any partion of the Property. Without iimiting ihe generality of the foregoing, Trustor wElt not r�mave, or grant to
<br />any other parly the right to remove, any timber, minerals {fnciudfng al� and gas), caai, ctay, scnr3a, soil, gravef or rock products
<br />without Lender's prior writt�n conser�t.
<br />Remavaf of Improvements. Trustor �hal1 nat demaiish or remove any Imprpvementa fram the Real Property wlthout Lender's prior
<br />written cpnsent. As a cvnditian tc the remav�l of �ny ImprovemenEs, Lender may requfrs Trustnr to make arrangements satlsiacFnry
<br />ta Lendar to reptace such tmprovements wlth Imprnvements af at least aqual value.
<br />L.�nder's Rlght to Errter, f.ender and Lende�'s a�ants and repr�e�ent2�tives may en#er upan the I�al Property at ail r�asvnabie times to
<br />attend to LendeP� intereats and ta inspect the Re�l Properiy for purposes af Trusto�'s compliance with the t�rms and aanditlans of
<br />this �ead oF Trust.
<br />Complfance wi� Ciovernmentat Requirements. Tru&tor �hail promptly comply wlth all lavus, ordinanraes, and regulativns, now or
<br />hereafter in ef�act, af ali govemmenta[ autharltles ap�licable ta the use cr occup�ncy af th� Properiy. Trusfor may contest in gaod
<br />faith any such I�w, ordinance, or regufaGo� �nd withhold aompilar►ce du�ing �hy proaaeding, including appropriate eppesls, sa Iong as
<br />Trustor has nvtifled Lender in writing prior to doing so and sn larrg as, Ih L�ndar's sole opintvn, Lender's inberests in the Property are
<br />nat jeop�rdixed. l.ender may requfre Trustor ta post adequat� security ar a surety hond r�,asnnably sa�sfactory to Lender, tn protect
<br />l.ender's int@r�st.
<br />Duty tv Protect Trustar agrees neither to ab�ndon or leave �nattendAd the Pro��rty. 7rustor shall da all other �;ats, fn addition t�
<br />lhose acts set torth �bave in this sectlon, which from the characFer and use af the Prvperty are r@asonably n�oessary to protect and
<br />preserve the Property.
<br />tAX�S AND LIEN$. `�he totiawing provisipns relating to tt�e taxes and liens on f�e Property are part pf this Deed of Trust:
<br />Payment. Trustor shalE pay when due (and In all events prinr to deltnquency) all taxes, spacia] taxes, �ssessments, charges (;ncluding
<br />water and sewer), fines end Impositipns levled against ar on acsourrt of the Property, and shall pay when due all claims far work done
<br />an or for services rendered or material furnished to the Property. 7'rustnr shall maintain the property free vf aIl Gens havi�� priority
<br />aver or equa) to the Irtter�st of Lendet under this peed a�f 7rust, exoept for the lien of taxea and assessmenYs na! due and except as
<br />othervvise pravided in thia Deed af Trust,
<br />Right tio ContesL Trustor may withhnld paym�nt of any tax, assessmant, or clalm in aonnectlon with a good faith dispute over the
<br />obligaHon to pay, so long as Lender's ir�ber+�st in the Rroperly is not jeop�rdfaed. If s If�n arises or is fil�sd as a result of nonpayment,
<br />Trusbar sha11 within fiftBen (15) days after the lien arisea or, if a lien is filed, within fifteen (15) days after �"rustpr hes notice of the
<br />flling, secure the discharge of th� It�n, or if requested by Lender, deposit witl� I.endar cash vr a sufFcient corporate surety bond or
<br />other security satisfactory to Lender in �n emount sufficien# tn discharpe tha fien pfus any c�osts and attnrneys' f�ees, or ofher charges
<br />that could accrue as a result trP a forecldsure or sale under the lien. In any oor�test, Trustor sh�li defend Itself and Land�r artd shall
<br />satEsfy any adverae judgment befare enforcement against the Property. Trustor shall narne l.endar as an additional obligee under any
<br />surety bond furnlshed in the cantest prot�edings.
<br />Evidence of Payment. Trustnr shall upqn demand furnlah ta t,ender satisfactary avidence a1 payrn�nt of #h� taxes pr assessmer�ts and
<br />shail autharize tha apprapriate qpvernmentaf t�fficial to deliver ta Lend�r at any tima a written statement af the taxes and assessments
<br />against the Prop�rty. .
<br />Notice af Canstruckian. Trusbvr shaEl �vtify Lsnder at teest fifte�n (15) days befar� any wark is commenced, any services �re
<br />furniahed, or any materlals are supplled ta t17e Property, tf eny mechanics Ifen, materlalman's lien, or other lien caul�f be asserted on
<br />account of the warit, services, or materlals. i'nratvr wilE upon requeat � Lender Furhish to Lender ad�ance assurances sati��actqry ta
<br />l.ender ihat 7rustor can and will pay the aast af cuch improvaments,
<br />F'RQP�It"I'Y DAMAGE INSE]f�tANCE. The lallowing pt�a�isicns relating to insuring the Property are a part of thls Deed of Trust.
<br />Malntenan� of insurance. 7rustor shall procure and malrstain poEinles of fire insuranoe wlth standard extvncfed coverag�
<br />endvrsemer�ts an � repiacemant basis for the full insurable vatue cpverin� ail Improvemants pn the Real Property In an amount
<br />suff�cient to evoid appfication of any coinsurance Gause, and wlth a standard marfpagee cl�use in favor nf l.ereder, together wtth such
<br />other hazart! and liabllity insurar�e as Lander may reasonabiy requira. Policies sh�tl be written in form, amour�ts, sanverages and basis
<br />rea�anably acceptable to Lender and issued by a r,ompany or companfes reasanably accept�ble to Lender. Trustor, upo� request oP
<br />Lender, wilf del[�er to (.ender from time to time the poiic�es or certificates af insurance in form satisf�ctory ta Lender, including
<br />stipula�vns that cov�ra�es will not be cancelled or diminished without at leaat ten (10) days prlar wr{t#en natice to Lender. Each
<br />
|