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'___ . ' �=T--�-_ ._ r . . , . . . . . . �.. _ _ _�'r. _____-_ - - _ . __ ,_'_ _---..
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<br /> � tn the ori�tna! pdndpai Famount of$ 325,080.00 _ . and any and all modificat�ns.extensTons`in�"renewals _. . • �
<br /> the�of or thereto and any end all tuture udvances and roadvances to Borrower(or any o4 ent of other sums advanoed by L�enderato , :' ;��
<br /> to one or mare promissory notes or credit a9msments(herei�called'Note�;(b)the pay . , �����
<br /> protect tha secucity o1 the Note;(c)the peAarmance ot all wvenants and egraemants of Trusiar set forth herein;and(cq al�Present and j
<br /> tuture indebtedness and obligatIons of Barrower(or any of them it more than onej to l.ender whethar dire�t,indirect,ebso�uta or conUn- . '; . �-�: _
<br /> .� gent and whether arising by note,guaranty�overdraft or ot4�enKise.The Nflte,this D�of Trust 8nd any and a1�Cihera�Q��tl . •• t:.
<br /> secure the Note or otherwise executed in conneCttcn therewith, inctudfng without IimiCat lon guaran t e e s, s e c u ri t y 9 f=_
<br /> . asst gnmenis of teases and renb,shalt be referted to herein as the'Loan tnstruments'. • . . �
<br /> Tnistor covenants and agrees vritt�Londer as foliotvs: . : ._
<br /> t. Pay�er�Y of InQebtedneas.Ait indeDtedness sscured hereby shall be paid when due. �d WII���t the lien creat- • . ,
<br /> 2. 'Pitle.Trustor is U►e owner o9 4he Property,has the right and authority to convey the Properry. , • _
<br /> - ed hareby is a Tirst�nd prior Iien on the Property,exteA2 for liens and encumbrances set forth by Trustor in vs�riting and delivered to .L ` �,. -
<br /> , Lender betore exscution of this Deed of Trust.and the exscution arid delivery oi this Oead ot Trust does not vioiate aay contract or ; ;-- : --� "'.
<br /> otherobligatlon to which Trustor is subject , . �
<br /> 3.Taxes./Usessrr�ents.To pay before delinqusncy all taxes.special assessments and ail other charges against the Property . , ,, _
<br /> now or hereafter leviett. . � ` '
<br /> q,�naurante,To kee�the Property insured against clamage by fire,hazards inGuded within the tertn`extended covera9a•and ..-,�--
<br /> m
<br /> such hazards as i.ender may require,in am,ounts and�vith companies a�ePtable to Lender,naming Lender as an addRiona�named - -
<br /> insured,yyith loss payabte to ri�e Lender.in case of toss under such palicies,the Lender is authorized to adjust,cdtecl and comPro- , :. '___,�_a
<br /> n,
<br /> � mise,a11 ctaims thereunder and shall have the opUon of appfying sll or paR of the insurance procesds(�to any indebtedness secured V ;�, 4�
<br /> hereby and in such order as Lender may determine,(�'�to the Trustor to be used for the repair or restoration of ti�e Propsrty or(ii�for �
<br /> '=-"r/1�4Tn.._�
<br /> - any other purpose or objsci satlstactory to�-ender without aftecting the Iien of this Deed of Trust for the full amouni secured here4�y .� ; :}. : a �. . : �
<br /> betore such payment ever took place.Any apPlications of proce�ds to indebtedness sha1�not extend or postpone tha due date of any ,,�i��,,�,_
<br />, paymsnts under the Note,or cure any detauR thereunder or hereunder. -•_ ,—
<br /> 5.Escrow.Upon written dam�nd by Lender,Trustee shall pay to Lsnder,in such manner as Lender may designate,sufNcient �J„y.' •„� �
<br /> sums to enable Lender to pay as theY beoome due one or more of the tollowing:()a��taxes.assessments and o4her charges against • ,�..��,���a
<br /> � the property,(i�the premiums on the property insurance requlred hsreundar,(ii�the premlums on any mortgage insuranoe required by =�
<br /> � Lender. . '..._ �'��;,.�.�
<br /> 6. AAalntenance�Repalrs and Comptlance wfth Lawa.Tnrstor shall keep the PropeRy in good condi�on and repair,shall .':�.
<br /> pmmptfy repair,or reptace any improvement which may be damaged or destroy9d;shat�not commit or pertnit any waste or detedora- : ;�_
<br />' tlon of the Propedy:shall not remove,demotish or substantial�Y alter any of the improvemems on the Properry;shalf not oommit,sufter j:%�.::_�
<br /> - or permit any ad tn be done in or upon the Property in violation of any taw,ordlnar+ce,or regulation;and shaH Ray end promptty dis- �,� _
<br /> - charge at Trustnts cost and expense all liens.encumbrances and charges levied,imposed or axessed a9ainst the Pr°Pert�►or any _
<br /> _.��.
<br /> part thereoi. .
<br /> ` , 7.Eminent Domaln.Lender is hereby assigne�all compensation,awards,dama9es and other payments or retlef(hereinafter ,.: �; ;:,
<br /> °Proceeds�in connec4ion with condemnatlon or other tal6ng of the PropeAy or part thereof,or for conveyance in lieu of candemna6on. , ���,� ,� . . �,.
<br /> � Lender shall be entitled at its opiion to commenca,appsar in and prosecute in its oivn name any action or proceedings,and shaU also ,;;.;;,,,� .. :��- •� .-_
<br /> . be entiUed to make any oompromise or setttement In connection with such tal�ng or damage.In the event any portion ot the Properly is s�..�� � .
<br /> so taken or damaged, Lender shalt have the option in its sote and absolute discreUon,to apply all such Proceeds� ane�dedu�°9 "`�'"?'�'
<br /> n vrith such Proceeds,upon any indebtedness secured hereby and in such ���': .�'
<br /> therefrom a11 costs and expenses incurred by ii in connecdo u on such con- �'�`'�`�' ' �
<br /> • order as Lender may c9etermine,or to apply a11 suc�Proceeds,after such deductions,to ths restora6on of tfie Properry p • � ,.� ;� _
<br /> d'iU'pns as Lender may detem►ine.My application of Proceeds to indebtednass shafl noi eMend or postpone the due date of any pay- �_: `j` :, ,�
<br /> _ menis undsr�e Note,or cure any detault thereunder or hsreunder.My unapptied fimds shall be paid to Tnistor. _a��. .
<br /> g,p�rmanco by Lender.Upon the oa:urrence of an Event of Defauft hereunder.or'rf any ac4 is taker�or legal p'�s�ng _ � �+ t'.. —
<br /> commenced tivhlch matedally affects Lenders interest in the PropeAy,Lender may in its own discreUon,but witl�out obligadon t�do so. � .�`• �.n _
<br /> � and without notice to or demand upon Trustor and without releasing Trustor trom any obligation,do eny act xfiiCh Trustor has agreed • =-,��a
<br /> to rotect the securfty hereof. Trustor shall, immed'iatety upon --
<br /> but faited to do end may also du any other act it deems necessary P
<br /> demand therefor by Lendar,pay to Lender all oosts and eupenses incurred and sums expended by Lender in connecUon witl�the exer- �r.
<br /> •• � f the to oin d ts,together with interest thereon at the datault rate provided in the Note,whtch shaD be added to � -"�-�� _
<br /> cdse by Lender o re9 9 9h �
<br /> ihe lndebi�fiess secured heraby.Lender shall no2 incur any Iiability because ot arrything it may do or omit to do hereunder. ---
<br /> . 9.������riala.Trustor shaU keep the Property in oompliance wlth all appticable laws.ordlnances and regutat�ons �.��'-:-.:
<br /> � relaUng to industrial hy�i�e or envtronmental protectton(collecthrely refeaed to herein as'Environmemal Laws'�•T�ustor shall keep _ _ _ ,
<br /> � the PropeRy hee from�Jt substencas deemed to be hazardous or toxic under any Emlronmental Laws(cotlec2i+rety�efened to herein � �--�r.��,
<br /> as'Hazardous Materlats�.Trustot hereby warrants and represents to Lender that the[e are no Hazardous Ma2erlals an or under the = •:;�•�...
<br /> PropeRy.Trustor hereby agrees to ind�anityr and hotd hermtess Lender,its dlrectora,offlcera.employees end agents,and any suxes- � � �.,4-.�-�-- _
<br /> •��r
<br /> ., sors to Lenders interest,trom and���t any and all claims.damages.losses and Iiab3liUes adsing 1n connectlon witl�the presence. ��:. . ' '=: __
<br /> h.-S.�i�1L�°�.�
<br /> use,disposal or transport of any Ha�6ous Materials on,under,from or about the Property.THE FOREGOlN6 WARRANTIES AN . __,�=_-_
<br /> REPFiESENTATtONS,ANQ TRUSTOR'S OBUGATION3 PURSUANT TO THE FOREGOINti INOEMNITY, SHALL SURVIVE � `"�' ^•�-�• =
<br /> RECONVEYANCE Oi�i1S DEEO OF THUST. '"L � �_��,,,�,�F�
<br /> 10.Asst�nme;�01 Renta.Trustor hereby assigns W Lendet,and gra�ts Lender a security interest in,ali presen�tuture and •, .� :��_y
<br /> after arising rents,issues and profits of the PropeAy;provided that�custor shatl,untit the occurcence of en Event o!Detau1t,hareunder. ��..,�,_.ti
<br /> - hava the dght to oollect and retain such rents,issues and profits as they become due and payable.Upon the oxurrence mi�n Event o1 f`��,��n �--� �
<br /> "°"',sSc�,; • ��� _ .
<br /> pe}ault,Lender may,e�ar in person or by agenL with or without bdnging any action or proceeding,or by e receiver appolnted by a ,::�.�, .���._;
<br /> couR and without regard to the adeQuacy of Its securfry,enter upon and take possess�on o}the Property,or any part thereo1,in its own . ; �_..
<br /> name or in the name of the Trustee,end do eny acts whlch it deems necessary or desirable to preserve t�oe vatue,marketebiliry or _'.��,. ,;�,;�.� ,.
<br /> . ,;;.;,...,,. ,
<br /> � �� rentabiliry of the PropeRy,or any paR fhereol or interest the�eln.or to increase the inoome therefrom or protect the securiry hereof and, , �
<br /> with or without taking passession of the PropeRy,sue for or other,�se ooQect the rents,issues and proflts thereof,indudiRg those past - : '
<br /> due and unpaid,by noUtying tenants to make payments to Lender.Lender may apply rents,issues and profits.less oosts 2nd expens-
<br /> es of operaUon and callection induding attomeys tees,to any indebtedness secvred hereby.all in such order as Lender may'�Uon � -
<br /> mine.The entedng upon and taking possesslon of the PropeRy.the wllection of such rents.issues and profits,and the aPp' �
<br /> thereof as afore^aaid shatl not cure or waive any default or no8ce o1 detault hareunder or invalidate any act done in response to such • �::;
<br /> � defautt or pursuant to such noUce of default and, notwithstanding the conUnuance in passession of the property or the co8ectlon, � .-�
<br /> � reoeipt and applicaUon o!renis,Issues or profib,Tnistee and Lender shall be entiUed to exercise every dght provlded far in any ot the �
<br /> Loan Instruments or by Iaw upon oocurrence of any Event of Default,including without IimitaUon the right to exercise the power ot sa1e.
<br /> Further,Lendefs rigfits and remedies under this paragraph shall be cumulaUve with,and in no way a flmitaUon on,Lender's rights and �'
<br /> remedies under any assignment of leases and rents recorded agalnst tfie PropeRy.Lender.Tnistae and the receiver shall be liable to -
<br /> ' account onty for those rents actually received. . �
<br /> � 11.Evants o!DefaulL The toltowing shall constitute an Event ot Default under this Deed of Trusx •
<br /> � (a)Failure to pay any installment of pdncipal or interest ot any other sum secured hereby when due; _ �
<br /> ' (b)A breach of or detault under any provlslon corrtalned in the Note,this Oeed of Trust,any o}ttie Loan instruments,or any _
<br /> other tien or encumbrance upon the Property: � � .
<br /> � (c)A wrtt of execution or attachment or any similar process shall be entered against Trustor whlch shall bc�oome a lien on � �;�,.
<br /> • the Property or any portion thereo}or interest Merein; ��,
<br /> • (�Thare sP�all be fited by or against Trustor or 8orrower an action under any present or tuture ten��t������vertor - � . �
<br /> � taur es rt�;:laNan rr�i�ng ta 4Ankn'9tcY,insatven�r or otfier retief for debtors:or there si►ati be appa Y f ,
<br /> � liquidator of Trustor or Boaovrar or oi all or any paR ot tho Pr�perty.or the rents,lssues or prafits tiiereai,or Trus�or or�assu.�c -------�-E:
<br /> sha11 make any general assignment tor the benetd of creditors: �` ��
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