Agenda - 06-24-1986 - Laserfiche WebLink

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that until Payment of the Bond (as defined in the Loan Agreement ) shall be made it will at its own expense ( i ) keep the Trust Estate in as reasonably safe condition as its operations shall permit, ( ii ) keep the Trust Estate in good repair and in good operating condition, and ( iii ) make from time to time all necessary repairs thereto and renewals and replacements thereof . The Company shall not permit or suffer others to commit a nuisance in or about the Trust Estate or itself commit a nuisance in connection with its use or occupancy of the Trust Estate. The Company may, also at its own expense, make from time to time any additions, modifications or improvements to the Trust Estate that it may deem desirable for its business purposes and that do not materially impair the effective use, nor materially decrease the value, of the Trust Estate. All such additions, modifications and improvements made by the Company shall become part of the Trust Estate. The Company agrees to pay when due the purchase price of and all costs and expenses with respect to the acquisition, construction or installation of any such addition, modification and improvement. Section 2 . Remedies of the Trustee Upon Default: (a) The following events shall constitute events of default hereunder : ( i ) default in the payment or any of the other terms or conditions of the Note secured hereby and the expiration of any applicable grace or notice periods provided thereby; ( ii ) failure by the Company to observe and perform any covenant, condition or agreement on the part of the Company under this Deed of Trust (except if such fail- ure results in an event of default under clause ( i ) above) for a period of 30 days after written notice specifying such failure and requesting that it be • remedied is given to the Company by the Beneficiary unless the Beneficiary shall agree in writing to an extension of such time prior to its expiration; provided, however, that if the failure stated in the notice cannot be reasonably corrected within the applicable period, such period shall be extended for the period of time reasonably required to correct such failure provided the Company promptly commences and diligently pursues the curing thereof; ( iii ) default in any of the terms, conditions or covenants contained in the Bond Purchase Agreement, the Loan Agreement, the Security Agreement, the Assignment, 4 .