FIELD DOCUMENTS - Laserfiche WebLink

Home Browse Search

tt-o5-toot DEED OF TRUST Page 2 (Continued) whether heretofore or hereafter Issued, prepared, or executed, including without limitation all permits,licenses,authorizations and approvals, otherrightsrights or apadenames. and provals relating to ordautho authorizing g thuse e entitlements, olopment rr occupancy of Ther Property, plus approvals, utillity density allocations and other deposits, reimbursement rights,studies,tests,contracts,plans and speoltoelions,relating to the Property and Improvements. ---- Property.—The word"Property-means-collectively-Ihe-Real-Property-and-the-Personal-Property-- Real Property. The words"Real Properly'mean the property,Interests and rights described above In the"Conveyance and Grant"section. Related Documents. The words "Related Documents" mean and Include without limitation all promissory notes, credit agreements, loan agreements,environmental agreements,guaranties,security agreements,mortgages,deeds of trust,and all other Instruments,agreements and documents,whether now or hereafter existing,executed In connection with the Indebtedness. Rents. The word"Rens"means all present and future leases, rents, revenues,Income,issues, royalties, profits, and other benefits derived from the Property together wlth the cash proceeds of the Renis. Trustee. The word"Trustee"means Chicago Title Company and any substitute or successor trustees. Trustor. The word "Trustor means any and all persons and entities executing this Deed of Trust, including without limitation all Trustors. named above. THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY,IS GIVEN TO SECURE (1)PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL OBLIGATIONS OF TRUTOR UNDER THE NOTEOF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND�T E SDOCUMENTS, SECURITY INTEREST THE RENTS IAND PERSONAL PROPERTY,S DEED OF TRUST. THIS DEE DALSO GIVEN TO SECURE ANY AND ALL OBLIGATIONS OF TRUSTOR UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN TRUSTOR AND LENDER OF EVEN DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT,OR ANY OF THE RELATED DOCUMENTS REFERRED TO THEREIN, SHALL ALSO BE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUST. THE NOTE AND THIS I DEED OF TRUST ARE GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: PAYMENT AND PERFORMANCE. Except as otherwise provided In this Deed of Trust,Trustor shall pay to Lender all amounts secured by this Deed of Trust as they become due,and shall sMotly and In a timely manner perform all of Trustoes obligations under the Note,this Deed of Trust, - and the Related Documents. - POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees[hat Truslor's possession and use of the Property shall be governed by the following provisions: Possession and Use. Until the occurrence of an Event of Default,Trustor may (a)remain In possession and control of the Property, (b)use, l operate or manage the Property,and (c)collect any Rents from the Property. Duty to Maintain. Trustor shall maintain the Property In tenantable condition and promptly perform all repairs, replacements, and maintenance necessary to preserve Its value. Hazardous Substances. The terms"hazardous waste,""hazardous substance,""disposal,""release,"and"threatened release,"as used In this Deed of Trust,shall have the same meanings as set forth In the Comprehensive Environmental Response, Compensation,and Liability Act of 1980,as amended,42 U.S.C:Section 9601, at seq. CCERCLA"), the Supedund Amendments and Reau[horizallon Act of 1986, Pub. L. No. 99-499("SARA"),the Hazardous Materiels Transporialion Act,49 U.S.C.Section 1801,at seq.,the Resource Conservation and Recovery Act, 42 U.S.C.Section 6901,at seq.,Chapters 6.6 through 7.7 of Division 20 of[he California Health and Safely Code, Section 26100,at seq., or other applicable state or Federal laws, rules, or regulations adopted pursuant to any of the foregoing. The terms "hazardous waste" and "hazardous substance" shall also Include, without limitation, petroleum and petroleum by-products or any fraction thereof and asbestos. Trustor represents and warrants to Lender that: (a) During the period of Trustor', ownership of the Property, there has been no use, generation, manufacture,storage,treatment,disposal,release or threatened release of any hazardous waste or substance by any person on, under,about or from the Property; (b)Trustor has no knowledge of,or reason to believe that there has been, except as previously disclosed to and acknowledged by Lender in writing, (1)any use,generation, manufacture,storage,treatment,disposal,release,or threatened release of any hazardous waste or substance on,under,about or from the Property by any prior owners or occupants of the Property or (II)any actual or threatened litigation or claims of any kind by any person relating to such matters;and (c)Except as previously disclosed to and acknowledged by Lender In writing, (1) neither Truslor nor any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture,store, treat,dispose of,or release any hazardous waste or substance on, under,about or from the Property and (II)any such activity shall be conducted In compliance with all applicable federal, slate, and local laws, regulations and ordinances, Including without limitation those laws, regulations,and ordinances described above. Trustor authorizes Lender and Its agents to enter upon the Property to make such Inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property with this section of the Deed of Trust. Any Inspections or tests made by Lender shall be for Lender's purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and warranties contained hereln are based on Trustoris due diligence In Investigating the Property for hazardous waste and hazardous substances. Trustor hereby (a) releases and waives any future claims against Lender for Indemnity or contribution In the event Trustor becomes liable for cleanup or other costs under any such laws,and (b)agrees to indemnify and hold harmless Lender againsty and all claims, losses, liabilities, damages, an penalties,and expenses which Lender may directly or indireclly susialn or suffer resulting from a breach of this section of the Deed of Trust or as a consequence of any use,generation,manufacture,storage,disposal,release or threatened release of a hazardous waste or substance on the properties. The provisions of this section of the Dead of Trust, Including the obligation to Indemnity, shall survive the payment of the Indebtedness and the satisfaction and reconveyance of the Ilan of this Deed'of Trust and shall not be affected by Lender's acquisition of any Interest In the Property,whether by foreclosure or otherwise. Nuisance,Waste. Trustor shall not cause,conduct or permit any nuisance nor commit,permit,or suffer any stripping of or waste on or to the Property or any portion of the Properly. Without limiting Ihe generality of the foregoing,Trustor will not remove,or grant to any other party the right to remove,any timber,minerals(Including oil and gas),soil,gravel or rock products without the prior written consent of Lender. Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without the prior written consent of Lender. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory to Lender to replace such Improvements with Improvements of at least equal value. Lender's Right to Enter. Lender and its gents and representatives may enter upon the Real Property at all reasonable times to attend to Lenders interests and to inspect the Property for purposes of Truslor's compliance with the terms and conditions of this Deed of Trust.