|
DEED OF TRUST 2 O 1 O O H s� c�
<br />Loan No: 101236207 (Continued) Page 2
<br />FOLLOWING 7ERMS:
<br />7RUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants thet: (a) this Deed of Trust is executed at Borrower's reqwest and
<br />nnt et tha raquest of Lender; (b) Trustor has the full power, right, and authority to enter into this Deed of Trust and to hypothecate the
<br />Property; (c) the provisipns af this Daed af Trust da not conflict with, or result in a default under any agreement or other instrument
<br />binding upon Trustor and do not result in a violation of any law, regulation, court decree or nrder applicable to Trustnr; (d) Trustnr hes
<br />established adequate means of obtaining from 8orrower on a continuing basis information about Borrower's financial condition; and (e)
<br />Lender has made no representation to Trustor about �arrower (including without limitation the creditworthiness of Borrowerl.
<br />TRUS7pR'S WAIVEFtS. Trustor waives all rights ar defenses erising by reason of any "one action" or "anti-deficiency" law, or any other
<br />law which may prevent Lender from bringing any action against Trustor, including e cleim fpr deficiancy ta the axtent Lender is otharwise
<br />entitled to a claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially nr by
<br />exercise of a power of sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, 8orrnwer and Trustor shell psy to Lender all
<br />Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective
<br />abligations under the Note, this Deed nf Trust, and the Related Documents.
<br />POSSESSION AND MAIN7ENANCE OF THE PRpPERTY. Borrnwer and Trustor agrae thst Borrowar's and Trustqr's ppssession and use of
<br />the Property shall be gnverned by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of befault, Trustor may (1) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threataned release of any
<br />Hezsrdnus Substance by any person nn, under, about or from the Property; (2) Trustor has no knowledge of, or reason to 6elieve
<br />thet there has been, except as previnusly disclosed to and acknowledged by Lender in writing, (a) any 6reach or violation of any
<br />Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about ar from the Property by eny prior owners or occupsnts nf tha Property, or (c) any actual or
<br />threatened litigation or claims nf �ny kind by any person relating to such metters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither ?rustor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous 5ubstance on, under, about or from the Property;
<br />and (b) any such activity shall be cnnduct�d in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitatiqn all Environmental Laws. Trustor authorizes Lender end its agents to enYer upon the Property
<br />to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of 1'rust. Any inspections or tests made by Lender shall be far Lender's purposes nnly and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. 7he representations and
<br />warranties contained herein are based on Trustnr's due diligence in investigsting tha Property for Hazard4us Sulas#ances. Trustor
<br />hereby (1) releases and waives any future claims against Lender for indemnity or contributian in the event Truator becomes lisble far
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender against any and all
<br />claims, losses, lie6ilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a
<br />breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, diSpasal, release vr
<br />threatened release occurring prior tp Trustnr's ownership pr interast in the Prpparty, whether pr not the same wes pr should have
<br />been known to Trustor. The provisinns nf this section of the Deed of Trust, including the obligation to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be
<br />affected by Lender's acquisition of any interest in the Property, whether by foreclnsure or otherwise.
<br />N�isunce, Waste. Trustor shall not cause, conduct or permit eny nuisance npr cammit, permit, nr suffer any stripping qf nr waste on
<br />or to the Property or eny portinn of the Property. Withnut limiting the generality of the foregping, Trustor will not remove, or grant tn
<br />any other party the right to remove, any timber, minarals (including oil and gas), coal, clay, scoria, sail, gravel or rock products
<br />without Lender's prinr written consent.
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property withou# Lender's prior
<br />written consent. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfectory
<br />to Lender to replace such Improvements with Imprnvaments of at least aqual value.
<br />Lender's Righ# to Enter. Lender and Lender's agants and representgtives may enter upon the Real property at all reasonable times t0
<br />attend to Lender's interests and to inspect the Real Property for purposes of Trustor's cnmpliance with the terms and conditinns of
<br />this Deed of 7rust.
<br />Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and regulations, now or
<br />hereafter in effect, of all governmental authorities applicable to the use or occupancy of the Property, including without IimitaYion, the
<br />Americans With Dissbilities Act. Trustor may contest in gnod faith any such law, nrdinance, or regulation and withhold campliance
<br />during any proceeding, including appropriate appeals, so long as Trustor has nntified Lender in writing prinr to doing so and so long as,
<br />in Lsnder's sole opinian, Lender's in#arests in the froperty are not jeopardized. Lender may require Trustor to post adequate security
<br />or a surety bond, reasonably satisfactory tn Lender, to protect Lender's interast.
<br />Duty to Protect. Trustor agrees neither to abandon or leave unattended the Prnparty. Trustor shall do all athar acts, in additipn tn
<br />those acts set forth above in this section, which from the character and use of the Property gre ressonahly necessary to pro#ect and
<br />preserve the Property.
<br />bUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declere immediately due and payable all sums secured by this
<br />peed of Trust upon the sale or transfer, without Lender's prior written consent, of all or any part of the Real Property, or any interest in the
<br />
|