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201202783
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Last modified
6/5/2012 4:36:39 PM
Creation date
4/10/2012 8:51:28 AM
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DEEDS
Inst Number
201202783
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�01�0� r�; <br />*g. He will not without the prior written consent of the Beneficiary voluntarily create or permit to be <br />created against the property subject to this Deed of Trust any liens inferior or superior to the lien <br />of thls Deed of Trust and further that he will keep and maintain the same free from the claim of all persons <br />supplying labor or materials which will enter into the construction of any and all buildings now being <br />erected or to be erected on said premises. <br />h. He will not rent or assign any part of the rent of said property or demolish, remove, or substantially <br />alter any building without the written consent of the Beneficiary. <br />9. In the event the Grantor fails to pay any Federal, state, o� local tax assessment, income tax or other tax <br />lien, charge, fee, or other expense charged to the property hereinabove described, the Beneficiary is hereby <br />authorized to pay the same and any sum so paid by the Beneficiary shall be added to and become a part of the <br />principal amount of the indebtedness evidenced by said promissory note. If the Grantor shall pay and discharge <br />the indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge all taxes and <br />liens and the costs, fees, and expenses of making, enforcing and executing this Deed of Trust, then this Deed of <br />Trust shall be canceled and surrendered. <br />10. The Grantor covenants that he is lawfully seized and possessed of and has the right to sell and convey <br />said property; that the same is free from all encumbrances except as hereinabove recited; and that he hereby <br />binds himself and his successors in interest to warrant and defend the title aforesaid thereto and every part <br />thereof against the lawful claims of all persons whomsoever. <br />11. For better security of the indebtedness hereby secured the Grantor, upon the request of the Beneficiary, <br />its successors or assigns, shall execute and deliver a supplemental mortgage or mortgages covering any additions, <br />improvements, or betterments made to the property hereinabove described and all property acquired after the <br />date hereof (all in form satisfactory to Grantee). Furthermore, should Grantor fail to cure any default in the <br />payment of a prior or inferior encumbrance on the property described by this instrument, Grantor hereby agrees <br />to permit Beneficiary to cure such default, but Beneficiary is not obligated to do so; and such advances shall <br />become part of the indebtedness secured by this instrument, subject to the same terms and conditions. <br />12. That all awards of damages in connection with any condemnation for public use of or injury to any of <br />said property are hereby assigned and shall be paid to Beneficiary, who may apply the same to payment of the <br />installments last due under said note, and the Beneficiary is hereby authorized, in the name of the Grantor, to <br />execute and deliver valid acquittances thereof and to appeal from any such award. <br />13. The irrevocable right to appoint a substitute trustee or trustees is hereby expressly granted to the <br />Beneficiary, his successors or assigns, to be exercised at any time hereafter without notice and without specifying <br />any reason therefor, by filing for record in the office where this instrument is recorded an instrument of appoint- <br />ment. The Grantor and the Trustee herein named or that may hereinafter be subsUtuted hereunder expressly <br />waive notice of the exercise of this right as well as any requirement or application to any court for the removal, <br />appointment or substitution of any trustee hereunder. <br />14. Notice of the exercfse of any option granted herein to the Beneficiary or to the holder of the note secured <br />hereby is not required to be given the Grantor, the Grantor having hereby waived such notice. <br />15. If more than one person joins in the execuUon of this instrument as Grantor or if anyone so joined be of <br />the feminine sex, the pronouns and relative words used herein shall be read as ff written in the plural or feminine, <br />respectively, and the term "Beneficiary" shall include any payee of the indebtedness hereby secured or any assignee <br />or transferee thereof whether by operation of law or otherwise. The covenants herein contained shall bind and <br />the rights herein granted or conveyed shall inure to the respective heirs, executors, administrators, successors, <br />and assigns of the parties hereto. <br />16. In compliance with section 101.1(d) of the Rules and Regulations of the Small Business Administration <br />[13 C.F.R. 101.1(d)], this instrument is to be construed and enforced in accordance with applicable Federal law. <br />17. A judicial decree, order, or judgment holding any provision or portion of this instrument invalid or <br />unenforceable shall not in any way impair or preclude the enforcement of the remaining provisions or portions <br />of this instrument. <br />SBA Form 930 (387) <br />-4- <br />
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