|
�,'�_«` � ,,::�`�- . • _ Ftr, t
<br /> __-:'-��x� - - '� - - •�'� ._L._ -
<br /> :i . . .` -��",i' . _ .'. ._ __ , ... ., _ C. "._Y L._C. -}i� ;.
<br /> • . _" �. " _ . . _ _ � - � . . u'`l _.._t' k .'�-� ` f.r
<br /> r - '� , . . ..." . - - .4 �C2 . ` �.. ' : � .. •" "' 4`' . - �t- - t L.'.. '^_�1G'. _ . R. .
<br /> - �� S �i _r..._ __.�...___ �� 2.� i
<br /> , . �. . .. . ., . .:
<br />. , . . . ' `. ' �.. .-L.. - — � �, ,` .
<br /> ' , �� • .. . . ::4y�� .
<br />� . . . .< � q • � . c�.� � r
<br />�`�. 7'his Deed`of�wt��s�ure(a the payment af the priacipa!sum and interest evidenced by a promissory note(s)or credit � • '� �
<br /> . agreement(s)as follows: � , .
<br /> . . . . Date of Pnnapal Maamry , . , �'
<br /> _.' Note(s) Nlaker(s)af Note(s) Amount(s) Date(s) •�
<br /> , � . ` . - 02/23/98 MIDI.AHD AG SfiRYICE. SNC.. RO(�R L. LUSBHB 161.000_00 12/Ol/03 , � � " } .
<br />.. � ' ._ -. wnvaaoa A. LII�HS . � . .
<br /> , -,e.
<br />` ��` , . < � and any aad all modifications. exu;nsioas and cenewals thereof or thereto and aay and all fuwre advances and readvaaces w � . • •
<br /> ' � � Borrower(or any of them if more than one)hereunder pursaant to one or more promissory notes or credit agreements(herein calted �''_� . •
<br /> `� � - -`"' 'Note", whether one or more); (b)the payment of other sams advanced by Lender to pmtect the security of the Nutc: (c) the , � � .
<br /> ` " ""��` perfoimance of all covenants and agceemenu of Tnutor sec forti�herein;and(�a11 present and future indebtedness and obligations '^ •.'
<br /> �- - - _ of Borrower (or any of them if more than one)w Lender whediet d'uect, inditec�absotute or co�geat aud whether arising by - - �`- -•__
<br /> ` note. goaranty,overdraft or otherwise. 'ilie Note, this Deed of T:ust aud any and all other documenrs tUat secure the Note or _. � . � _
<br /> � othera+ise executed in connection therewid�,includin8 arithout limitation guarantees,security ageements and assignments of leases E
<br /> ;.
<br /> ` aad renis,shali be refened w herein as the°Loaa Insuumeau".
<br /> , ' ��i Tmswr covenanu and agrees with I.ender as follows: . - -' �`� -�,,
<br />- .. � '. . 3 1. Papmeat of Indebtednes9. All iadebtectaess secnred hereby shatl be paid when due. -
<br /> '1. ��,: 2_ 13rie. Tcnstor is the owner of the Properry,has the right and authority to coavey the Praperry.and wartants thac the lien ":` -. ' ,'. _
<br /> ;s ,. , . � �` cceated hereby is a fast and prior lien on the Property, except fir liens and encumbrances set forth by Tnutor in writing and .. r`_ �
<br /> ,� ; " .,`� delivered w Lender before execudon of this Deed of Tnut,and the exew6on and delivery of tius Deed of TnLSt does not violate any �
<br /> :. . conuaa or other obligation m ahich Tn�stor is subjec,t. :�.4:;-_=.-�-
<br /> �;�- _ � � 3. Taaes,Assessmentg. To pay before delinquency all taxes.special asscssments and all otfier charges against the Praperty aaw
<br /> �- . • or hereafter tevied. '',�" ___
<br /> X;` � 4. Insutance. To[ceep the Propeityr insured against damage by fue, hazards included within the tcrm "extended coverage°, �,-,:'"_�,
<br /> .,,�� and such ost�r hazaids as I.ender may reqaire, in amouius and arith companies acceptabte to Lender. naming I.ender as an . , _�
<br /> ` additional named insured,with loss payabte to the Lender. In case of loss under such policies, the Leader is authorized to adjust, ,�.;:,,�, � -.._
<br /> . .. .. �4, collect and compromise.all claims thereundec and sHall have tlte optionof applying all os part of th$in�,*anee proceed9 f7 w any ...�__
<br /> � • indebtedaess seaued hereby and in such order as Lender may determine,r)w the Tcuswr to be u s e d for t 6e repair or r e s wtation '
<br /> ,` • of the Properry or(ii7 for anyr other purpose or abject satisfactory to Lender withaut affecting the lien of this Deed of Tcost for the r . .• �,".<3=-
<br /> � � � fuA amount sec�ued hereby before such payment ever took place. An}r application of proceeas W indebiedaess sha11 not extead ot �:�i.,�T.
<br /> ,r � . ;� postpone the due date of any payments under the Note.or cure any default thereunder or hereunder. �" ._;;
<br /> - ; �:�_ 5. Eserow. Upoa wciuen demand by I.ender.Tntstor shall pay to Lender,in snch manner as Lender may designate,suf6cient
<br /> ' sums w eaabte Lender w pay as they become due one or more of the foAowing: (�all taaes,ase�ents and ather chaages against , , ��''�'"�
<br /> � the Properry. (ii)the premiums on the propetty insurance required hereunder.and(iii)the premiams on azry mortgage insurance `�''-�'�;
<br /> 5 � required by Lender. '
<br /> ` . � 6. Maintenance,Itepairs and Compfiance wtth I.sws. Tnuwr shall keep the Property in gaod condition and repair;shaU f ��
<br /> .= • � promptly repai�, or replace any improvement w6ich may be damaged or destroyed; shall not commit or permit asry waste or � • st._-�_
<br /> ' � ' deterioration of the Property; shall not[emove,demotish or substantially alter any of the improvements oa the Property;shatl not =�
<br /> ��•,�., ..
<br /> � wmmit,suffer or pecmit any act w be done in or npou ttte Praperry in violation of a�r law,ordinance,or regutadon; and shall pay .
<br /> ' • and prompdy discharge at Trustor's cost and expense all Gens, encumbrances and charges levied imposed or assessed agaiast the , ''�
<br /> �..r . ' Properry or any part thereof. � 'r "''�`=
<br /> '''' • ' . 7. Emfaent Domain. I.ender is hereby assigned all compensauon,awards,damages aad other payments or relief(deseinaftcr ":�'�,'
<br />'�, `... ., ' _... •p�aceeds^) in connection with condemnat�on or other taking of the Property or part thereof, or for conveyance in Geu oP ;��.
<br /> ' `' condemnadon. I.ender shall be enatled at iu opdon ro commence, appear iu and psosecute in its own name any action or Q
<br /> proceedings. and shall also 6e enritled to make any compromise or seatement in connection witb sucb taking or damage. In the +"� :
<br /> ��: event any portion of the Properry is so taken or damaged,Lender shall have the opdon.in lts sole and absolute discretion,W apply '1.�
<br /> all such Pmceeds, after dedacting therefram all costs and expenses iacurred by it in connecdon with such Praceeds,upon any '�+'���
<br /> � •• • • � _ indebtedness secured hereby and in stuh order as I.ender may decermine,or to apply all such Proceeds,after sucb deducdons,oo the �� ..`:.
<br /> �testnration of the Pcoperty upon such conditions as Lender may determine. My applicatioa of Froceeds tn indebtedness s1�a1!not ���.
<br /> � � , ex[end or postpone the due date of any payments under the Noce.or cure any default thereunder or hereuader. My imapplied funds . -��`_
<br />,�;'(': . `,.=:
<br /> r . . shall be paid W Tiustor.
<br /> # ' 8. Pertormance by Lender. llpon the occurrence of an Event of Default hereunder.or if any act is taken or legal proceeding , . ` �
<br /> � , commenced which matetially affects Lender's interest in the Prapecry,Lender may in its oam.discredon,but a+ithout obligation to , .. _
<br /> (-} do so.and without notice to or demand upon Trustor and without releasing Trustor from any obligauon,do any act w�ich TcusWr •
<br /> j has agreed but faiIs to do and may a(so do any o�her act it deems necessary to pratect the securiry hereof. Tnuoar shail,
<br /> �.•'; . � immediately upon demand therefor by Leader,pay to l.ender all cost�and eapenses incurred aud sutas expended by Lender in . ;�,
<br /> : �,� . . ' conuection with the exercise by l.ender of the foregoing rights.togetLer vrith interest thereon at We default rate provided in the � • ,:«
<br /> Note.which shall be added to the indebeedness secured hereby. l.ender shall not incur any liabiliry because of anything it may do or
<br /> ..�`; : , omit m do hereunder. � ' �
<br /> 9. Hazardovs Materiafs. Trustor shall kexp the Property in compliance with all applicable laws, ordinances aad re�ulations ,
<br /> � • celating to industrial bygiene or environmental protecdon(coltectively referred to herein as"Environmental Laws"). TNStor shall .
<br /> � � keep the Properry free from all substances deemed to be hazardous or toxic under any Environtneatal Laws(wltectively referred to : �•
<br /> ' herein as"Hazardous Materials"). Trustor hereby warrants and represcnts to Lender that there are no Hazardous Maceriala on or
<br /> : :• � under the Property. Tcustor hereby agrees to indemnify and hold harmless l.ender.its directors, officera,employees and agents, . �
<br /> and aay successors to Lender's interest, from and against any and all claims.damages, losses and liabilities arismg in co�ection
<br /> . � arith the presence,use,disposal or transport of any Hazardous Materials on.under.from or about the Properry. THE FOREGOING
<br /> WARRANTIES AND REPRESENTATIONS, AND TRllSTOR'S OBLIGATIONS PIJRSUANT TO THE FOREGOING
<br /> ` ' � INDEMNITY.5HALL SURV(VE RECONVEYANCE OF THIS DEED OF TRl1ST. •
<br /> 10.Asslgnment of Rents. Trustor hereby assiy,ns to Leivler,aad grants Lender a sccurity interest in. all present,futnre and
<br />• ' afrer-adsing tents. issues and profits of the Property: provided that Trustor sha11, until the �ccurrence of an Event of Default
<br /> � hereunder,have the right to collect and retain such rents.issues and profits as they become due and payable. Upon the occuaence • �
<br /> ' of an Event of Default. I.ender may.either in person or by agent, witb or without bringing a�ry action or proceeding. or by a �
<br /> receiver appointed by a court and aithout regud to the adequacy of its security.enter upon and take possession of the Ptopetty.ot �
<br /> �� .� any pan thereof, in its own name or in the name of the Trustee.and do any acts wh�ch it deems necessary or desirable to preserve
<br /> � ; the value,markc[ability or rentability of the Properry,or any part ihereof or interest therein,or to increase the income therefrom or
<br /> . :: � , protect the secwity hereof and.with or without taking possession of the Properry.sue for or otherwise collect the rents,issues and ,
<br /> • . � profiu thcreof, inctuding those past due and unpaid,by notifying tenanGS to make payments to Lender. Lender may apply rents. . .
<br /> issues and profits,less costs and eapenses of operation and collection inctuding attomeys'fees. [o any indebted�ess secured hereby.
<br /> - . ali in such order as Lend��r may detecmine. The entering upan and talcing posu:sslon oF the Property,the colteetion of such rents. . . .
<br /> . � issues and pmfits, and the application thereof as aforesaid,shall not cure or waive any default or notice of default hereunder or .
<br /> invalidate any act done in response tu such defautt or pursuant to such notice of default and. notwithstanding the cunqnuance in �
<br /> ' � p��ssessiun of the Properry or the wllection,receipt and application of cents,issues or profits,Trusree and l.ender shall be enritled ro � .
<br /> ������ • cxercise every right pruvided fi�r in any of the Loan Inswments or by law upon occuttence of any Event of befault, including .
<br /> ' ; �vithout limitation the right to exercise the power of sale. Further. Lcnder's rights and remedies under this paragraph shall be �
<br /> . : cumulative with, and in nu way a limitatiun �m, Lender's righu and remeJies under any assignment uf leases and rents recorded i
<br /> . - --- against Shc Prope:s:y. lxude:r.Tructee an�!the receivet shall be IiaFte to acconnt�miy fnr thnee rentc acmally received. .___ ____ _
<br /> • i
<br /> - - .m ua,r.,.p,�i��r�it..��a..�.i•n I ' � .
<br /> .•C � 1'M�VCi��u111u1.I�.nmcr.�Ir�.1uJt�.��.A..a�a��n.ira.�nfichM,r f .. . .
<br />- S � .
<br /> :� �_ _ _ _ _
<br /> x , . _ -
<br /> . .
<br /> ,�.�- ' - � ,. . . . . :.,�•, �� . . . . _ . . ,.,_ _�.---,
<br />
|