eTrade 2000 Annual Report Download - page 245

THIS DEED OF TRUST WITH ASSIGNMENT OF RENTS (this "Deed of Trust") is made as of this day of February, 2000, by
Dennis Lundien and , husband and wife (collectively, “Trustor”), whose address is , to CHICAGO TITLE COMPANY, a California
corporation ("Trustee"), for the benefit of E*TRADE GROUP, INC., a Delaware corporation ("Beneficiary").
Trustor irrevocably grants, transfers and assigns to Trustee in trust, with power of sale that certain property located in , California,
more particularly described in Exhibit 1 attached hereto, together with all improvements thereon, rights appurtenant thereto and the
rents, issues and profits thereof (collectively, the “Property”), subject, however, to the right, power and authority hereinafter given to
and conferred upon Beneficiary to collect and apply such rents, issues and profits, for the purpose of securing: (i) payment of the sum
of One Million Six Hundred Thousand and No/100 Dollars ($1,600,000.00) together with all interest thereon according to the terms of
that certain Note Secured by D eed of Trust dated as of February , 2000 (“Note”) made by Dennis Lundien and payable to the order of
Beneficiary, and extensions or renewals thereof; (ii) the performance of each agreement of Trustor incorporated by reference or
contained herein or reciting it is so secured; and (iii) payment of additional sums and interest thereon which may hereafter be loaned to
Trustor, or their successors or assigns, when evidenced by a promissory note or notes reciting that they are secured by this Deed of
Trust. The Property and any and all other collateral pledged as security to Beneficiary are collectively referred to herein as the
“Collateral.”
A.To protect the security of this Deed of Trust, and with respect to the Property, Trustor agrees:
(1)To keep the Property in good condition and repair; not to remove or demolish any building thereon; to complete or restore promptly
and in good and workmanlike manner any building which may be constructed, damaged or destroyed thereon and to pay when due all
claims for labor performed and materials furnished therefor; to comply with all laws affecting the Property or requiring any alterations
or improvements to be made thereon; not to commit or permit waste thereof; not to commit, suffer or permit any act upon the Property
in violation of law; to cultivate, irrigate, fertilize, fumigate, prune and do all other acts which from the character or use of the Property
may be reasonably necessary, the specific enumerations herein not excluding the general.
(2)To provide, maintain and deliver to Beneficiary insurance policies satisfactory to and with loss payable to Beneficiary. The amount
collected under any earthquake, fire or other insurance policy may be applied by Beneficiary to any indebtedness secured hereby and
in such order as Beneficiary may determine, or at option of Beneficiary the entire amount so collected or any part thereof may be
released to Trustor. Such application or release shall not cure or waive any default or notice of default hereunder or invalidate any act
done pursuant to the Note or otherwise.
(3)To appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or
Trustee; and to pay all costs and expenses, including cost of evidence of title and attorney’ s fees in a reasonable sum, in any action or
proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary or Trustee to foreclose this Deed of
Trust.
(4)To pay, at least ten days before delinquency, all taxes and assessments affecting the Property, including assessments on appurtenant
water stock; and to pay, when due, all encumbrances, charges and
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liens, with interest, on the Property or any part thereof, which appear to be prior or superior hereto and all costs, fees and expenses
incurred by Beneficiary or Trustee in connection with this Deed of Trust.
Should Trustor fail to make any payment or to do any act as herein provided, then Beneficiary or Trustee, but without obligation so to
do and without notice to or demand upon Trustor and without releasing Trustor from any obligation hereof, may make or do the same
in such manner and to such extent as either may deem necessary to protect the security hereof, Beneficiary or Trustee being authorized
to enter upon the Property for such purposes; appear in and defend any action or proceeding purporting to affect the security hereof or
the rights or powers of Beneficiary or Trustee; pay, purchase, contest or compromise any encumbrance, charge, or lien which in the
judgment of either appears to be prior or superior hereto and, in exercising any such powers, pay necessary expenses, employ counsel
and pay his or her reasonable fees.
(5)To pay immediately and without demand all sums so expended by Beneficiary or Trustee, with interest from date of expenditure at
the amount then applicable under the Note, and to pay for any statement provided for by law in effect at the date hereof regarding the
obligation secured hereby, any amount demanded by Beneficiary or Trustee not to exceed the maximum allowed by law at the time
when said statement is demanded.
B.It is further agreed:
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