Orange County NC Website
Browse       Search
Rev August 8, 2018 <br />Premises was intended at the time this Deed of Trust was executed. Grantor shall not allow <br />changes in the use for which all or any part of the, Premises was intended at the time this Deed of <br />Trust was executed. Grantor shall not initiate or acquiesce in a change in the zoning <br />classification of the Premises without Beneficiary's prior written consent. <br /> <br />24. Books and Records. Grantor shall keep and maintain at all times a Grantor's address <br />stated above, or such other place as Beneficiary may approve in writing, complete and accurate <br />books of accounts and records adequate to reflect correctly Grantor's financial condition and <br />copies of all the written contracts, leases and other instruments which may affect the Premises. <br />Such books, records, contracts, leases and other instruments shall be subject to examination and <br />inspection at any reasonable time by Beneficiary. Upon Beneficiary's request, Grantor shall <br />furnish to Beneficiary within 120 days after the end of each fiscal year of Grantor, a balance <br />sheet, a statement of income and expenses and a statement of changes in financial position, each <br />in reasonable detail and certified by, Grantor and, if Beneficiary shall require, by an independent <br />certified public accountant. <br /> <br />25. Inspection. Beneficiary may make or cause to be made reasonable entries upon and <br />inspection of the Premises, provided that Beneficiary shall give Grantor notice prior to any such <br />inspection specifying reasonable cause therefore related to Beneficiary's interest in the <br />premises. <br /> <br />26. Application of Payments. All payments and other sums of money received by <br />Beneficiary shall be applied by Beneficiary first to amounts due Beneficiary pursuant to <br />paragraph 8 hereof, then to interest payable on the Note, then to the principal of the Note. <br /> <br />27. Environmental Issues. Grantor for itself, its successors and assigns <br />represents, warrants and agrees that (a) neither Grantor nor any other person has used or <br />installed any Hazardous Material (as hereinafter defined) on the Premises or received any <br />notice from any governmental agency, entity or other person with regard to Hazardous <br />Materials on, from or affecting the Premises; (b) neither Grantor or any other person has <br />violated any applicable Environmental Laws (as hereinafter defined) relating to or affecting the <br />Premises; (c) the Premises are presently in compliance with all Environmental Laws; there are <br />no circumstances presently existing upon or under the Premises, or relating to the Premises <br />which may violate any applicable Environmental Laws, and there is not now pending, or <br />threatened, any action, suit, investigation or proceeding against Grantor relating to the <br />Premises (or against any other party relating to the Premises) seeking to enforce any right or <br />remedy under any of the Environmental Laws; (d) the Premises shall be kept free of Hazardous <br />Materials, and shall not be used to generate, manufacture, transport, treat, store, handle, <br />dispose or process Hazardous Materials; (e) Grantor shall not cause nor permit the installation <br />of Hazardous Materials in the Premises nor a release of Hazardous Materials on the Premises; <br />(f) Grantor shall at all times comply with and ensure compliance by all other parties with all <br />applicable Environmental Laws relating to or affecting - the Premises and shall keep the <br />Premises free and clear of any liens imposed pursuant to any applicable Environmental Laws; <br />(g) the Grantor has obtained and will at all times continue to obtain and/or maintain all <br />licenses, permits, and/or other governmental or regulatory actions necessary to comply with <br />Environmental Laws (the "Permits") and Grantor is in full compliance with the terms and <br />DocuSign Envelope ID: 62EC95C2-2AA8-49D7-B576-F94193C9DB65