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<br /> �I �(„�`�-..j:. % --.._. _ _—_ "_�
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<br /> ' 9$— 1t)4s►43
<br /> D. Procur� and ma�intain policias o! all-risk ineuxance on sei.d
<br /> i,mprav�m�nt�, in sum■ s�d und�rwxitt�n by companie� mcceptable
<br /> ta �ha B�NR�'iCIARIE9, in en nmaun� a! at leaet SixtX-Four
<br /> Thousand Dollar� ($64,000.00) , whiah policia� eha�ll na�me the
<br /> BLN�FZCIARIL9 as ddditionm� ineurqds, with tha �.oes proceade
<br /> p�►yak�le ta th� par�ias a� their intere�ta mrsy appe�r
<br /> hor�und�r. TRU8TOI2 agr�pa �o provido BBNEFICIII,RIEB with
<br /> aopl.�e of such poliaies ar certi.ficet�e of inauxa►nce during
<br /> th� torm of thie indobtodnose, which poli�iee of ineurance mr�y
<br /> not ba cancelad by ea�id caxrier witt�out �ifteen (15) daya
<br /> written notice to HENEY�iCIARIE9.
<br /> TRU9TOR covenante and egreea thet a f ail.ure to make any
<br /> payment, either principal or intereat, on the No�e secured hereby
<br /> when ciue and �ayn�l�, vi a fail�rn �cs car�ply with 3ny af the
<br /> coven�nts nnd agreemente here3.n made ahall cause the whols aum o£
<br /> �eionay hereby secured to become immediate ly due and aollea�ihle at
<br /> tihe option of� the BENEFICI]1RIES, and BENEFICIl�►RIE3 shall have the
<br /> right to cause Notice of De�au�t to lae qiven erad the pre�ises to be
<br /> sold as provided herein,
<br /> The pa�rties rautually agree as folla�sc
<br /> �� �.. ; �;
<br /> A. At any tin�e and f���:�m t�m�:• �o taaa�: upon written Y��quea�'. ��.� � � • r
<br /> � � BLNEFiCxl►RIES, paymetst af. �:-e�S x►rit�,�'�ixesentr�tion of thi�.�����1 � '
<br /> � . o� Trust aad the Note '�ca� l�endox�aeaient (in case o� -��ca;lJl , ,
<br /> ''' reconveyance, for cance112�`tion' .��nd ratet�tian), with�+a����
<br /> affectinq the liability a�.��tny p�x�.on fox the payment of t��a�;•;;, ��� '•; '
<br /> , ' indebtednes�, TRUST�� mdg,•6;3s�� consent to the•.�aking �� .butiy,��+?p •�. : ,
<br /> � a 2...... nwM"t��.^ �
<br /> ' . or pla�t o� seid propercyy QIC�� �Olii .Lit y;diaaxsi+�•�ailr c8$+�:.+.�..,•, ��•._.; .
<br /> ' c�eating ..� �;a� re�tra.ct�.v,� � therean; (C) joi� iri� . .�a�y�� �
<br /> � ' '� • �ubardinntion or a�}n�er ar�La�ent affectinq �his L+�s� df Tr!�!�t
<br /> ` � '�� rche lien or charqe thereof; (d) reconvsy thfs Deed of Truat
<br /> or the lien or charqe thereof; (d) rsconvsy, withputi warranty,
<br /> all or any part of sa�id property.
<br /> B. The graatae in sny Deed of Reconvsyance nay bs dQSCribed ae
<br /> "�he person or perscns entitled ther�ta", and the recitels
<br /> therein of eny mnt�ers or facts ahall be concluaivo proof af
<br /> the truthfulnese ther•e�of.
<br /> . C. Upon� defaalt l�y TRUSTOR in the payment of indeb�ednegs seauXed
<br /> hereby or in the performance of any aigreement haraundsr,
<br /> BENEFICIARI83 may declare all eums secured hsreby immediately
<br /> due and payaaale by delivery to TRUSTEL of written declaration
<br /> of default. rf BENEFICIARIE3 desir@ eaid property t� ba soldf
<br /> the�r ehell deposit with TRUBTEE thie DeQd of �rust end all
<br /> promissory notes and docuuents evidenciaq ezpenditures sacurQd
<br /> hereby, �uad shnll deliver to TRUSTLE a written Not;ice o#
<br /> Defsult and el.ec�fon to cause said property to be sold in the
<br /> form requ3red bg law, which shall be duly �iled for record by
<br /> TRU3TEE.
<br /> (1) After the lapse of sur.h time ao mey be required #ry I�.++
<br /> (pr��ently being one (1) month fc�llawinQ the r�cn�t-�:aia.
<br /> o� said Notice of Def�ult), Notice of Default antii' �L:i��Le
<br /> of Sale heving been given as required by lawr, TRU���,
<br /> without demnnd on TRUSTOR, shall aell said �►roperty on
<br /> the date and at the time and pldce desiqnated in s�id
<br /> Notice of Snle, at public auctiocs to the hiqhest biddsx,
<br /> .; the purchase price payable in lawful money of the United
<br /> � StaCea at the time of sale. The person cenducting the
<br /> , sale may, for. any cause he deems exPedient,, peastpone the
<br /> �J 4 1.� �i�1 7 L� wl w�Aa !f►/� ;T
<br /> saie Lr011l L.Ime La. Li.me iinttt .ca. osia�s w.�. Cv,oZ.+o...... .�-
<br /> � e�rrer� such cgs�, na�.f:rxn of pos�tpoaiem.�n.t shall be given by
<br /> puT�Y,fc declarati�xs �i�c�reof by �su�h p�erson at the time attd
<br /> place last ap�ioin�ed fnr the �tale; provided, if the sale
<br /> is p�ostpoa�3 �or lonqer th�n rone (1) day beyond the dny
<br /> c3esiq�aated fn �he K���ace a� S'al:e, notice thereof shall be
<br /> q�ven i�n the same manner �� th�e�rariginal Notice of Snle.
<br /> TRT�S'TEE shall ex�QUte and deliv�r to the purchaser hie
<br /> Deed conveying said property so sold, but w3thoux nny
<br /> covenant or warranty, express or implied. The recitals
<br /> in the Deed of any matters or facts sha�ll be conclusive
<br /> proof of the truthfulness thereof . Any person, including
<br /> HEHEFICIARIES, may purch�►se at the sale. TRUS�'OR hera�by
<br />
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