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<br />any department, bureau, instrumentality, or agency thereof. The foregoing is collectively referred to in
<br />this document as the "property."
<br />It is understood and agreed between Trustor(s) and Beneficiary that this Trust Deed is given to secure
<br />the repayments in full of the following described obligations, regardless of whether Trustor(s) is(are)
<br />liable thereon, and all future and additional loans or advances, protective or otherwise, which may be
<br />made by Beneficiary, at its option, at the request of, and to or for the account of Trustor(s), the parties
<br />liable under the note(s) or credit agreement(s), or any of them, for any purpose, plus interest thereon,
<br />all payable according to the terms of the note(s), credit agreement(s), or other instrument(s) modifying
<br />the same.
<br />Date of Note(s) or Credit Aareement(s) Principal Amount
<br />04/08/2011 $295,800.00
<br />Provided, however, that the total principal indebtedness outstanding and secured hereby at any one
<br />time will not exceed the sum of TWO HUNDRED NINETY-FIVE THOUSAND EIGHT HUNDRED,
<br />($295,800), exclusive of interest and protective advances authorized herein or in the loan agreement(s);
<br />provided further, that THIS PARAGRAPH SHALL NOT CONSTITUTE A COMMITMENT TO MAKE
<br />FURTHER OR ADDITIONAL ADVANCES IN ANY AMOUNT AT ANY TIME, WHETHER OR NOT THE
<br />TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED.
<br />This Trust Deed will be due April 1. 2031.
<br />Trustor(s) hereby warrants that Trustor(s) holds fee simple title to the above described property, that
<br />Trustor(s) has good and lawful authority to deed and encumber the same, that the property is free and
<br />clear of all liens and encumbrances, except encumbrances of record, and that Trustor(s) will warrant
<br />and defend the property, at Trustor(s) expense, against all claimants whomsoever. Trustor(s) also
<br />hereby waives and relinquishes all rights of dower, homestead, distributive share, and exemption in and
<br />to the above described property.
<br />Trustor(s) and each of them further covenants and agrees with, or certifies to, Beneficiary as
<br />follows:
<br />1. To pay all liens, judgments, or other assessments against the property, and to pay when due all
<br />assessments, taxes, rents, fees, or charges upon the property or under any lease, �ermit, license, or
<br />privilege assigned to Beneficiary as additional security to this Trust Deed, including those in or on public
<br />domain.
<br />2. To insure and keep insured buildings and other improvements including fixtures and attachments
<br />now on or hereafter placed on the properly to the satisfaction of Beneficiary, will on demand furnish
<br />said policies or furnish proof of insurance to Beneficiary. Any sums so received by Beneficiary may be
<br />used to pay for reconstruction of the destroyed improvements or if not so applied may be applied, at the
<br />option of Beneficiary, in payment of any indebtedness matured or unmatured secured by this Trust
<br />Deed. Such insurance will be in an amount at least equal to the lesser of the loan balance, the actual
<br />cash value of the collateral, or the replacement cost of the property, and will at a minimum, cover losses
<br />caused by fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke,
<br />windstorm, and hail. Trustor(s) will obtain and keep flood insurance in force to cover losses by flood as
<br />required by Beneficiary and by the National Flood Insurance Act of 1968, as amended, and by
<br />regulations implementing the same. Trustor(s) further agree that Beneficiary is not and will not be liable
<br />for any failure by Trustor(s) or by any insurer, for whatever reason, to obtain and keep this insurance in
<br />force.
<br />3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on
<br />the property occupied and in good repair, maintenance, and condition and to neither commit nor permit
<br />any acts of waste or any impairment of the value of the property. Beneficiary may enter upon the
<br />property to inspect the same or to perform any acts authorized herein or in the credit agreement(s).
<br />4. In the event Trustor(s) fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges
<br />or maintain any insurance on the property, buildings, fixtures, attachments, or improvements as
<br />provided herein or in the loan agreement(s), Beneficiary, at its option, may make such payments or
<br />provide insurance, maintenance, or repairs and any amounts paid therefor will become part of the
<br />principal indebtedness secured hereby, be immediately due and payable and bear interest at the
<br />default rate provided in the note(s) or credit agreement(s) from the date of payment until paid. The
<br />advancement by Beneficiary of any such amounts will in no manner limit the right of Beneficiary to
<br />declare Trustor(s) in default or exercise any of Beneficiary's other rights and remedies.
<br />5. In the event Beneficiary is a party to any litigation affecting the property or the lien of this Trust
<br />Deed, including any action by Beneficiary to enforce this Trust Deed or any suit in which Beneficiary is
<br />named a defendant (including condemnation and bankruptcy proceedings) Beneficiary may incur
<br />expenses and advance payments for abstract fees, attorneys fees (to the extent allowed by law), costs,
<br />expenses, appraisal fees, and other charges and any amounts so advanced will become part of the
<br />principal indebtedness secured hereby, be immediately due and payable and bear interest at the
<br />default rate provided in the note(s) or credit agreement(s) from the date of advance until paid.
<br />App #: 5116931; CIF #: 171224; Note #: 201 101 FK Legal Doc. Date: December 23, 2011
<br />FORM 5011, Trust Deed and Assignment of Rents Page 2
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