|
�_.:`�:,:':� . _ ;.G _�_,
<br /> .:.E-._
<br /> .. .. . . . _ . - - - - -
<br /> - --- -� ----— -___ _ � - - --
<br /> �-.,. , � . , . ,,._, : T
<br /> . - . � � ' ' . ::�.-.::_�' _.___. _ .. ._ �._...___"'. :� -;�
<br /> : �� �`.. 9� � - J �� ���
<br /> � ��le�o`��J nnte(s)or cred'et�
<br /> ` � This Deed of Tt�st st�all secure(a)the PaYment af the principal su�►and intecest evidenced by a promissocp . ' �.
<br /> � ', agreemeat(s)as fvllows: Original _ . .. � "-
<br /> � Date of �a s) D� ( 'i c�.`,
<br /> � ` Piote(s) Makerts)of Nio�(s) `• . �.
<br /> 38.680.27 oa/oz/o3 -, < �
<br /> � � � E. 03/13/98 �ANIB.4 D. RIL6Y, SF�iRO1Q J. RZLEY . .
<br /> 33.119.73 09/15/00 �F, �
<br /> . ` ' 03/13/98 ROBSAY PADGE'1T. JIILffi P1IDGBTP. Z1t�S RILH7t. SBAFtOR RII.BY . ' . . ..
<br /> 4 •
<br /> � ' , .. and any and all modifccatioas. extensions and renewals�to ne or�more pramissory�otes�����red�� • . Y�
<br /> ` , � Boaower(or suy of them if more than one)bereunder Pui ��� � �rity of the Note; (c) tS�e ' '
<br /> � °DIote'. whether one or more); (b)the PaY�t of other sums advanced by I.eader to p ,
<br /> t . , • resent and futiue indebtedness and obligations `- ` . `�
<br /> ' pe��of all covenants and ag[eements of Tcustor set fot�here'sn;and(�all p .
<br /> ` �_ �{ of Bonower{or aay af t6em if more than one)tn Iender whether direc�indirect, �bsotute or conringent aad whether azising by . ... .... •
<br /> � ` ; ; note.gaarantY•overdraft or otheccvise. The Piote. d�is Ueed of Tn�st and a�r and a11 other dacumegts that secure the Note or � ,.._��, i.,._-`-
<br /> � otherwise executed in connection therewith, including arithout limitatioa guarantees, securitY a8reements and assiguments of leases
<br /> ` i and rents,shall be refecred m herein as t6e'Loan Insm�meuts'•
<br /> � ' ' .� Trusmr covenaau and agrees with Lender as follows: , . - .
<br /> . ' 1. Paymeut oi Indehtedness. All indehtedness s��hri e t and authon'ty afien due.ffie Properry,and warrants t6at the lisn . '� .
<br /> • 2. 1YtIe. Tcustor is the oa+ner of the PropenY. � {� liens and encQmbrances set forth by Trasoor ia writmS and • •• '
<br /> ' created heteby is a fust and prior lien on the PmpectY, eacep� of this Deed of ltast does not violate any . `.:G;:��:.
<br /> � delivered to I.eader before execution of this Deed of Tnut.and the execudon and delivery .. ��;,;.
<br /> . `: � coutract or other obliga�. T�h befar�e delinqu ncY all taxes,sPecial assessments aad atl other charges against the Property now ,'_
<br /> ��� 1 3. Tas�A�e P Y • ..Y-�..
<br /> or flereafter levied. p wsured a ainst dama8 bY ���.
<br /> . � � -' � e fire,1�azards inctuded within the term°extended covera . , --
<br /> 4. Insarance. To keep the Pro erty' S (e to I.eader. naming 1.endsr as az► •. ' ----
<br /> m amounss and with cotupanies acceptab ;-� .----
<br /> } and such other ha7ards as Lender may require. �
<br /> ,_� ..•, 1 additional named insured,aith loss payable to the Lender. Ia case of loss uader such policies.the ;L�nd��ce ro�ceeds r)W anY ` `.�`
<br /> i coltect and compromise,all claims thereunder aud shall have the opiion of aPP�B�or part of the p 4=• �,.
<br />-•� -- indebtedness secured hereby and in suc h or d er as L e n d e r m a y d e t e r m i n e,C u�t o t h e T rn s Wr to be ased for the repair or r�srorarion .._,..�i -
<br /> -. . • . of the 3�ropenY or C�m7 for any other purpose or object satisPsctory w Lender without affecting the lien of this Deed of Trast f or t h e . �''.�:_
<br /> ' fnll amonnt secured hereby before such payment ever mok place. AnY aPPlication of proceeds to indebtedness st�a11 not extend or , ,',. �;��
<br /> . . postpone the due date of any payments under the Note,or cure aay default thereander or hereaader. _.,�,;,-_
<br /> 5. Fscrow. Upon wriaen demand by I.ender,Tcuswr shall pay w I.ender,in such marmer as I.ender may designate, sufficiem � y.--;,`„-_:
<br /> ,.. - sums w enabte Lender w pay as they become due one or mon of the foUowing. (�all taxes,assessments and o�charges a� -,.. (s:.3�-
<br /> . - the Property,Cu)the premiums on the property ins�rance requued hereunder.and fw'�the preminms on aay rt8 S '.=.a�;.
<br /> „ , < � required by I.ender. ''�1.
<br /> � 6. Maintemnce, RePatrs and Compliance wiW laws. Tn�stor shall l�eep the I�ropesry in good condition and repair;shall �.�
<br /> pmmptiy repair. or reptace auy improvemenc which may be damaged or desarayed; s1�aU not commic or pe:mic any waste or '' _
<br /> .. � � deteriontion of the Property:shall not remove.demolish or substaatially altcr an3+of the imptovements on ihe Property; shall not _.r,,'_�•
<br /> � � � commit,suffer or permit any act to be done in or upon the Praperty in violation of any iaw.ordinance,or regulation;aad sLall pay ;tiy t:_��
<br /> ' � and promptiy discharge at Trustor's cost and er.pense all liens,encumbrances ai►d charges levied.imposed or assessed agaiast the . `',"�,�:
<br /> property or any part t hereof. y p es and othet a nts or re l ief(h ereinafter _ • ., ur:
<br />='t 7. Eminent Domain. I.ender is hereb assigned ali com ensauon,awards,damag P Y� � ,�•.. 4
<br /> � ' *proceeds°) in connecaon with condemnation or other taking of the Property or part thereof. or for comeYaace in lieu of ::...'�
<br /> ' . _ coademnation. Lendec shall 6e emitled at its option to ccmmence, aPPear in aad prosecute in its own aame aaY action or ?-•�
<br /> :`:��;
<br /> • . ploceedings.and shall also be entifled to make any compromise or seutement iu connection witb s��1��g O1�ge. In the . ;.,. .
<br /> : ' . event any portion of the Pcoperty is so taken or damaged.Lender shaU i�ave the opdon,in its sole and absotute discretion,to app1Y -+�
<br /> s
<br /> all such Proceeds.af[er deducting therefrom all costs and expenses incurred by it in cannection witb such Proceeds. uPoII anY •:... y ..,..--
<br /> � . indebtedness secured hereby and in such order as I.ender may determiae.or to appla allcauo�f Pr�ed�s to�ind btednes�s�sh l�l not • • ` �`c'�..
<br /> restoratioa of the Properry upon such conditions as lxnder may deter[nine. A�ry PP li��n� �tr=
<br /> � ' . extend or postpone t�e due date of azry paymenca under the Note.or cure aay default thereunder or hereunder. My unaPP� ��:_
<br /> � shall be paid w Tn�stor.
<br /> - , , j g, �erformance by Lendea lJpon the occunence of aa Event of Default hereunder,or if any act is taken or tegal proceeding ..;l.rt
<br /> . . commenced ahich matetiallYor demandAa on Tnuto�and wtthout releasinB Tn�star from anay o6�tion,�do any act wluch Tmstor
<br /> do so,and without nodce to uP rotect the securiry heceof. Trustor shaU. .
<br /> � ' has agreed but fails to do and may also do any other act it deems necessarY W P
<br /> Immediately upon demand therefor by Lender. pay to I.ender all costs and expenses mcurred and sums eapended by l.ender in , ,.
<br /> • � connectIon with We exercisto the�indebtedness securg.diher by.�Leader shal�l ot�incur any liabiliry b eausee of az►ythin$it me yido or .
<br /> . • Note,cvbich shall be added .
<br /> omit to do hereunder. •
<br /> • 9. H�zasdons Materials. Trustor shali keep the Property in wmpliance wlth all applicable laas,ordinances and regulationa
<br /> ' relating to indusuial hYPene or environmental protecdon(coltectivety refecred to herein as"Envlronmenial Laws"). Tn�stor shall , ,
<br /> �� . keep the Property free from all substances deemed to be hazardous o•r toxic under any Environmental Iaws(coltectively cefer[ed to
<br /> herein as'Hazardous Materials"). Trostor hereby warrants and reptesents to Lender tt�at there are no Hazardous IV�teriais on or
<br /> . � . � under the Property. Trnstor hereby agrees to indemnify and hold harmless Lender,iu dicectors, officers,emptoyees a�agents.
<br /> and any successors to Lender's interest, from and against any and all claims,damages. lasses and liabilities arising in comiecuoa
<br /> • � with the presence,use,disposal or uanspon of any Hazardous Materials on.under.from or about the Property. THE FOREGOTNG
<br /> �y�TIES p1VD REPRESENTATIONS. AND TRUSTOR'S OBLIt3ATI0N5 PURSUANT TO THE FOREGOINti
<br /> � � ; INDEMMTY.SHALL SIJRVII�E RECONVEYANCE OF TH1S DEED OF TRIJST.
<br /> .. � 10.Assigament of Rents. Trustor hereby assigns to I.ender, and grants Leader a secnrity interest in.all present, fuwre and
<br /> '• after-arising tents, issues and profits of the Pruperty; prov i d e d t hat Tcus t or s h a l l, until the oceurrence of an Event of Default
<br /> • � hereunder.have the right to eollect and retain such rents,issues and profits as they become due and payabte. Upon the occurrente
<br /> ' of an Event of Default. Lender may, either in person or by agent, with ot without bringing any acdon or proceeding, ot by a
<br /> � receiver appointed by a court and aithout regard ta the adequacy of its security.enter upon and take possession of the 1'ropetty,or
<br /> • � any part thereof,in its own name or in the name of the Trustee,and do aay acts ahich it deems ne►:essary or desirable to preserve
<br /> � � the va(ue.markeutbiliry ot rentabiliry of the Properry,or any part thereof or interest therein.ot to increase the income therefrom or
<br /> - � '. proteet the securiry hereof and,with or without taking possession of the Pcoperry,sue for or otherwise c�llect the rey.pps�es and
<br /> profits thereof, inctuding those past due and unpaid,by noafying tenants to makc payments to Lender. l.endet ma a 1 rents.
<br /> ' • issues and profits,less costs and expenses of operation and collection including atrorneys'fees.to any indebtedness secuted hereby.
<br /> � all in such order as lxnder may determine. The entering upnn and taking possession of the Property,the collection of such rents.
<br /> ' _ issues and prof►ts. and the appllcation thereof as afuresaid, shall not���noi ce of defaultdand�notwithstandingethe conrinuance n � ' �.
<br /> �� invalidate any act done in responsc tu su�h default or pursuant to such � ,
<br /> � ' possession of the Properry or the collection,teceipt and applicatian of rents.issues ot profits.Ttustee and l.ender shall be enrided to
<br /> �� ` exercise every right provided for in any uf the Loan Instruments or hy law upon accurrence of any Event of Default, including
<br /> without limitation the right to cxercise the power of sale. Further. Lender's rights and remedies under this paragraph shall bc t
<br /> aua nsctthe Pro er nd Lender Trustee anJ�ihe receiver shaU he 1 ble t ea coun[only f�rnt va e�r�s acmalty receivedrents recurded
<br /> S P tY� .
<br /> ___.. - tiB1'y�t/'��Ap�clv�Ottui Fr OIWi _"'.""'�—�
<br /> ' � � ICUti�udQa3�LC.e•^xr.elruVdan..-,e��a�aud¢Im.In�.I...V
<br /> . O .
<br /> ' ` . � � � . . �'_
<br /> � . , .. � . —�.^"s""'+,._ . ,•. ., � '`' ..
<br /> . ... . . .
<br /> . .
<br /> .,
<br /> , ..
<br /> .
<br /> ' -.. �•-. ,..•.. . ...� . .� .. y�i._..�-_'•i• '. _ ._ . ".e�_ _'"' __ ' . "__ _y____�_r...r _ �.�� � \
<br /> . .
<br /> "1'��..I _ '_t��., . . . _ _ __ . . __ ..._,. __v__�_.u—v_..L ._ __'_ _" .. _ ... . ._.
<br />
|