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201106479
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201106479
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Last modified
8/31/2011 9:30:17 AM
Creation date
8/31/2011 9:30:17 AM
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DEEDS
Inst Number
201106479
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�01106479 <br />H. Trustor will permit, or cause any tenant to pernut, Beneficiary or Beneficiary's agent to <br />enter and inspect the Property and review all records at any reasonable time to determine (1) the <br />existence, location and nature of any Hazardous Substance on, under or about the Property; (2) <br />the existence, location, nature, and magnitude of any Hazardous Substance that has been released <br />on, under or about the Property; or (3) whether or not Trustor and any tenant are in compliance <br />with applicable Environmental Law. <br />I. Upon Beneficiary's request and at any time, Trustor agrees, at Trustor's expense, to <br />engage a qualified environmental engineer to prepare an environmental audit of the Property and <br />to submit the results of such audit to Beneficiary. The choice of the environmental engineer who <br />will perform such audit is subject to Beneficiary's approval. <br />J. Beneficiary has the right, but not the obligation, to perform any of Trustor's obligations <br />under this section at Trustor's expense. <br />K. As a consequence of any breach of any representation, warranty or promise made in this <br />section, (1) Trustor will indemnify and hold Beneficiary and Beneficiary's successors or assigns <br />harmless from and against all losses, claims, demands, liabilities, damages, cleanup, response and <br />remediation costs, penalties and expenses, including without limitation all costs of litigation and <br />attorneys' fees, which Beneficiary and Beneficiary's successors or assigns may sustain; and (2) at <br />Beneficiary's discretion, Beneficiary rnay release this Deed of Trust and in return Trustor will <br />provide Beneficiary with collateral of at least equal value to the Property secured by this Deed of <br />Trust without prejudice to any of Beneficiary's rights under this Deed of Trust. <br />L. Notwithstanding any of the language contained in this Deed of Trust to the contrazy, the <br />terms of this section sha11 survive any foreclosure or satisfaction of this Deed of Trust regardless <br />of any passage of title to Beneficiary or any disposition by Beneficiary of any or a11 of the <br />Property. Any claims and defenses to the contrary are hereby waived. <br />20. CONDEMNATION. Trustor will give Beneficiary prompt notice of any action, real or <br />threatened, by private or public entities to purchase or take any or a11 of the Property, including <br />any easements, through condemnation, eminent domain, or any other means. Trustor further <br />agrees to notify Beneficiary of any proceedings instituted for the establishment of any sewer, <br />water, conservation, ditch, drainage, or other district relating to or binding upon the Property or <br />any part of it. Trustor authorizes Beneficiary to intervene in Trustor's name in any of the above <br />described actions or claims and to collect and receive all sums resulting from the action or claim. <br />Trustor assigns to Beneficiary the proceeds of any award or claim for damages connected. with a <br />condemnation or other taking of all or any part of the Property. Such proceeds shall be <br />considered payments and will be applied as provided in this Deed of Trust. This assignment of <br />proceeds is subject to the terms of any prior security agreement. <br />21. INSURANCE. Trustor agrees to maintain insurance as follows: <br />A. Trustor sha11 keep the Property insured against loss by fire, theft and other hazards and <br />risks reasonably associated with the Property due to its type and location. Other hazards and risks <br />Page 9 of 12 <br />
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