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� 201108095
<br /> DEED OF TRUST
<br /> Loan No: 10000312 (Continuedl Page 2
<br /> all applicable federal, state, and local laws, regulations and ordinances, including without limitation all
<br /> Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property to make such
<br /> inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the
<br /> Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br /> purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Trustor or
<br /> to any other person. The representations and warranties contained herein are based on Trustor's due diligence in
<br /> investigating the Property for Hazardous Substances. Trustor hereby (1) releases and waives any future daims
<br /> against Lender for indemnity or contribotion in the event Trustor becomes liable for cleanup or other costs under
<br /> any such laws;and �2) agrees to indemnify,defend,and hold harmless Lender against any and all claims,losses,
<br /> liabilities,damages,penalties,and expenses which L@nder may directly or indirectly sustain or suffer resulting from
<br /> a breach of this section of the Deed of Trust or as a consequence of any use,generation, manufacture,storege,
<br /> disposal,release or threate�ed release occurring prior to Trustor's ownership or interest in the Property,whether or
<br /> not the same was or should have been known to Trustor. The provisions of this section of the Deed of Trust,
<br /> including the obligation to indemnify and defend,shall survive tFie payment of the tnde6ted.ness and the satisfaction
<br /> and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any interest
<br /> in the Property,whether by foreclosure or otherwise.
<br /> Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permii, or suffer any
<br /> stripping of or waste on or to tlie Property or any portion of the Property. Without limiting the generality of the
<br /> foregoing,Trustor will not remove,or grant to any other party the right to remove;any timber,minerals(incJuding
<br /> oil and gas),coal,clay,scoria,soil,gravel or rock producYS without Lender's prior written consent:
<br /> Remo�al of Improvements. Trustor shail not demolish or remove any Improvements from the Real Property without
<br /> Lender's prior written consent. As a condition to the removal ofi any Improvements,Lender may require Trustor to
<br /> make arrangements satisfactory to Lender to replace such Improvements with Improvemenis of at least equsl
<br /> value.
<br /> Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all
<br /> reasonable times to attend to Lender's interests and to inspect the Reai Property for purposes of Trustor's
<br /> compliance with the terms and conditions of this Deed of Trust.
<br /> Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and
<br /> regulations, now or hereafter in effect,of all governmental authorities appiica6le to the use or occupa�cy of the
<br /> Property. Trustor may contest in good faith any such law,ordinance,or regulation and withhold compliance during
<br /> any proceeding, induding appropriate appeals,so long as Trustor has notified Lender in writing prior to doing so
<br /> and so long as,in Lender's sole opinion,Lender's interests in the Property are not jeopardized. Lender may require
<br /> Trustor to post adequate securiry or a sureiy 6ond,reasonably satisfaciory to Lender,to proiect Lender's interest.
<br /> Duty to Protect. Trustor agrees neither to abandon or leave unattendetl the Property. Trustor shall do all other
<br /> acts,in addition to those acts set forth above in this section,which from the character and use of the Property are
<br /> reasonably necessary to protect and preserve the Property.
<br /> TAXES AND LIENS. The following provisions relating to Yhe taxes and liens on the Property are part of this Deed of
<br /> Trust:
<br /> Payment. Trustor shall pay when due(and in all events prior to delinquency)all taxes,special taxes,assessments,
<br /> charges(including water and sewer),fines and imposi'tio-ns levied against¢r on account of the Property,and shall
<br /> pay when due all claims for work done on or for services rendered or materiai fumished to the Property. Trustor
<br /> shall maintain the Property free of all liens having prio�ity over or equal to the interest of Lender under this Deed of
<br /> Trust, except for the lien of taxes and assessments not due and except as otherwise provided in this Deed of
<br /> Trust.
<br /> Right to Contest. Trustor may withhold payment of any tax,assessment,or ciaim in connection with a good faith
<br /> dispute over the obligation to pay,so long.as Lender's interest in the Property is not jeopardized. If a lien arises or
<br /> is filed as a result of nonpayment,Trustor shall within fifteen (15) days after The lien arises or, if a lien is filed,
<br /> within fifteen (15) days after Trustor has notice of the filing,secure the discharge of the lien,or if requested by
<br /> Lender,deposit�vith Lender cash or a sufficient corporate surety 6ond or other security satisfactory to Lender in an
<br /> amount sufficient to discharge the lien plus any costs and attorneys'fees,or other charges that could acerue as a
<br /> result of a forecbsure or sale under the lien. In any contesY,Trustor shall defend itself and Lender and shall satisfy
<br /> any adverse judgment before enforcement against the Property. Trustor shall name Lender as an additional obligee
<br /> under any surety bond furnished in the contest p�oceedi:ngs.
<br /> Evidence of Payment. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes
<br /> or assessments and shall authorize the appropriate governmental afficial to deliver to Lender at any time a written
<br /> statement of the taxes and assessments against the Property.
<br /> Notice of Construc4ion. Trustor shall notify Lender at least fifteen (15) days before any work is commenced,any
<br /> services are furnished,or any materials are supplietl to Yhe Property,if any mechanic's lien,materialmen's lien,or
<br /> otherlien could be asserted on account of the work,services,or materials. Trustor will upon request of Lender
<br /> fumish to Lender advance assurances satisfactory to Lender that Trustor can and will pay the cost of such
<br /> improvements.
<br /> PROPERTY DAMAGE INSURANCE. The foliowing provisions relating to insuring the P�operty are a part of this Deed ofi
<br /> Trust.
<br /> Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended
<br /> coverage endorsements on a replacement basis for the full insurable value covering all Improvements on the Real
<br /> Property in an a.mount suffiicient to avoid application of any coinsurance clause, and with a standard mortgagee
<br /> clause in favor of Lender,together with such other hazard and liability insurance as Lender may reasonably require.
<br /> Policies shall be written in form,amounts,coverages and basis reasonably acceptable to Lender and issued 6y a
<br /> company or companies reasonably acceptable to Lender. Trustor, upon request of Lender,will deliver to Lender
<br /> from time to time the policies or certificates of insurance in form satisiactory to Lender,including stipulations that
<br /> coverages will not be cancelled or diminished without at least ten(70)days prior�n�ritten notice to Lender. Each
<br /> �insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired
<br /> in any way by any act,omission or default of Trustor or any other person. Should the Real Property be located in
<br /> an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area,
<br /> Trustor agrees to obtain and maintain Federal Flood Insurance, if available,for the full unpaid principal 6alance of
<br /> the loan and any prior liens on the property securing fhe loan, up to the maximum policy limits set under the
<br /> National Flood Insurance Program,or as otherwise required by Lender,and to maintain such insurance for the term
<br /> of the loan.
<br /> Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may
<br /> make proof of loss if Trusto�fails to do so within fifteen (15) days of the casualty. Whether or not Lender's
<br /> security is impaired, Lender may,aY Lender's election,receive and retain the proceeds of any insurance and apply
<br /> the proceeds to[he reduction of the Indebtedness,payment of any lien affecting the Property, or the restoration
<br /> and repair of the Property. If Lender elects to apply the proceetls to restoration and repair,TrusYOr shall repair or
<br /> replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
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