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<br /> • 3. Performance, discharge of and tompliance with every obligation, covenanR, and agreement of Maker or"v -
<br /> Trustor incorporated by reference or contained herein or in any�ther secutity agreement or deed of trust at any timQ � C:=
<br /> given to securo any indebtedness hereby secured,or any part thereof. r �:__
<br /> 4. Payment oi all fees and charges of Bene(iciary,whether or not set(orth herein ``
<br /> ' TO PROTECT THE SECURITY OF THIS QEEO OF TRUST,TRUSTOtI CONVENANTS:
<br /> Title: That it is lawfully seized and possessetl ol a qood and indeleasible uUe and estate to such property in lee `_
<br /> � � sfmple and wlll forever warrant and deirnd the tiUe thereto against the elaims �nd demands of all persons `"
<br /> ' whosoever; that it will, at fts expPnse, maintain and preserve the lien of tliis Ueed ol Trust as a lien upon such
<br /> � property. �:..
<br /> � Pr(or Llens: To pay any inlerest on and maturing installments of principal due on any prior mortgage or deed -+_°
<br /> of trust,and to perform all thirigs required oi him unde� the terrns and conditions of any pnor rnortgage or deed oi �_?'-
<br /> .d+�"""l' ; trust. eeneficiary may, but shall not be obligated to, make any payment or perform any other act or obligation =_
<br /> +ti--• j""�'� required of Trustee or Trustu;•by any such prior mortgage or deed of trust. Any amount so paid or expended by °"
<br />' : � eeneficia►y shall be immediately repayable to eeneficiary together with interest as herein provided. ��=•-
<br /> , ; Maintenance: To keep such property in good c�ndition and repair; to comptete or restore promptly and in �«�
<br /> good and workmanlike manner any building wFiich may be constructed,damaged or destroyed thereon and to pay, �-.
<br /> � � when due,all tlaims for labor performed and materials fiurnished therefor and for any alterations thereof;to comply �+'_
<br /> . � with the provisions of all insurance policies covering said premises; to comply with all laws,ordinances, regulations. �;_-�:
<br /> i covenants, conditions and restrictions affecting such property; not to remove, demolish or materially alter any ��-.
<br /> :s 1 building,or the character or use thereoi at any time thereon;not to drill or extract nor to permit the drilling for or °�
<br /> � extraction of oil, gas or other hydrocarbon substances or any material of any kind unless the written consent of
<br /> Beneficiary is first had and abtained; not to cornmit or perrnit any waste thereof or any act upon such property in �,_
<br /> x' violation of law; to da all other acts in a timely and proper manner which from the character or use of such property s+is'::�
<br /> � may be reasonably necessary to protect and preserve said security,the specific enumerations herein not excluding the �'
<br /> general. f�,�
<br /> �Y�
<br /> � Construction of Improvements: To complete in good and workmanlike manner any building or improvement =—_
<br /> '.� � or repair relating there4o which may be begun on such property or contemplated by the loan secured hereby,to pay e����;'
<br /> when due atl costs and liabilities incurred therefor, and not to permit any mech�nic's lien against such property. �;-=+
<br /> . Trustor also agrees,anything in this Oeed of Trust to the contrary notwithstanding,(ay to promptly commence work ��•-
<br /> and to complete the proposed improvements promptly, (b) to complete same in accorda�ce with plans and ���
<br /> , specifications as approved by eeneficiary,(c) to comply with all of the terms of any building loan agreement between
<br /> � Trustor and eeneficiary, (d)to allow Beneficiary to inspect such property at all times during<onstruction,and(e)ta
<br /> replace any work or materials unsatisfactary to eeneficiary,within fifteen (15) days after written notice from
<br /> -- ==- 9enafici�r;of suth fatt, :�hi�h notice may be girest to Tsusier�y s�gistered or�ertifi�d mai!, sent Lo Trustor's lasi
<br /> ' known address,or by personal service of the same. -
<br />- Fire and Cesualty Insurance: To keep such property insured against loss or damage by fire and other risk or
<br /> risks which, in the opinion of Beneficiary should be insured against, under policies of insurance with loss payable to
<br /> - 8eneficiary and the holder of any prior lien in form, amount,and companies acceptable to eeneficiary. Said policies
<br />- • shall be delivered to and remain in possession of Beneficiary as further security for the faithful�erformance of these
<br /> _ � obligations,whith delivery shall constitute as assignment by Trustor to Beneficiary to all rights thereunder,including
<br />��-•-��' all return premiums; to deliver to Beneficiary a policy or policies renewing or extending any expiring insurance with a
<br />-..;:.:. �f� receipt showing premiums paid at Ieast thi�ty(30)days before expi�atian. If Trustor fails to so deliver any renewal
<br />�;.;:� ., •:,� policies,Beneficiary may procure suth insurance as it may elect and may make payment of premiums thereon,which
<br /> - . payment is repayable on demand. Neither Trustee nor Beneficiary shall be responsible for obtaining or maintaining
<br /> ��� �'• ,y such insurance. Beneficiary, from time to time,may furnish to any insurance agency or company, or any other
<br />-;;,�;,;;,�; f person, any information contained in or extrected from any insurance policy theretofore delivered to Beneficiary
<br /> ���•= pursuant hereto,and any information concerning the loan secured hereby. In no event and whether or not default
<br /> -,�``' hereunder has occurred shall Beneficiary,by the tact of app�oving,accepting or obtaining such insurance,incur any
<br />�`� �.,:� liability for the amount of such insurance,the form or legal sufficiency of insurance contracts,solvency of insurers,or
<br /> i��-1�' payment of losses by insurers,and Trustor hereby expressly assumes full responsil,ility therefor and Gability, if any,
<br />_.;;_.�•r;
<br /> .tK:.� thereunder. In the event of loss,Trustor shall give immediate written notice to Beneficiary, and Beneficiary may, but
<br />-�` r is not obligated to, make proof of loss if not made promptly by Trustor. In case of any loss the amount collected
<br />''' "•"'""'" under any polity of insurance on such property may,at the option of the Beneficiary,be applied by Beneficiary upon -
<br />- �"��� an in
<br />_��;�r�,... y debtedness and/or obligadan secured hereby and in such order and amount as Beneficiar.y may determine; or
<br /> ,�_-�,�_�„ saic!amount or any portion thereof may,at the optian of the Beneficiary,either be used in replacing or restoring the _
<br /> r�2i.,,;.: improvements partially or totally destroyed to a condition satisfactory to said Beneficiary,or said amount or any
<br /> - °•���-*,*�^, . portion thereof may be released to the Trustor. In any such event neither the Trustee nor the Beneficiary shall be =
<br />�'°'`""�"" obligated to see to the proper application thereof; nor shall the amount so released or used be deemed a payment
<br />�?���'�• • on any indebtedness secured hereby. Such application, use,and/or release shall not cure or waive any default or -
<br />_ ,:w•�F•Y'�r . `..
<br />_ � �.a,,, notice of default hereunder or invalidate any a<t done pursuant to such notice. Any unexpired insurance and all �;-
<br />_ � .. returnable insurance premiums shall inure to the benefit of,and pass to, the purchaser of the property covered �;.
<br /> - thereby at any Trustee's sale held hereunder. If said property is sold pursuant to the power of sale contained herein
<br />= or pursuant to any decree of foreclosure,all right,title and intl�es��Tru�,tor in and to the proceeds of fire and other
<br />_ insurance policies for damage prior to the sale, which proreed!ar ^ri'o�'rec�eived prior to the date of said sale,shall -
<br /> belong to Beneficiary. ,•,'•�:_
<br /> �;� Taxes and Other Sums Due: To pay,satisfy and discharge,at least ten(10)days before deli nquency,all general �1:t��'�
<br /> and special taxes and assessments affetting such property,and in no event later than the date such amounts become �
<br /> �. due, (1) atl encumbrances, charges and liens, with interest, on such property, or any par�thereof, which are, w. ��_
<br /> j appear to Beneficiary to be prior to or superior hereto, �2)all costs, fees and expenses of this trust, whether or nqt � _;-
<br /> described herein, (3) fees or charges for any statement regarding the obligation secured hereby in any amount �-<
<br /> 1_ demanded bv Beneficiarv, not to exceed the maximum amount allowed bv law therefor ar the time wh�n c�,rh ' '
<br /> request is mede,(4)such other chargrs as the BeneFiciary may deem reasonable for services rendered by Beneficiary'
<br /> and furnished at the request of Trustor or any successor in interest to Trustor,(5)i F such property includes a leasehold �
<br /> estate, all payments and obligations required of the Trustor o� his successor ir� interest under the terms of the •
<br /> instrument or instruments<reating such leasehold, Trustor hereby agreeing not to amend,change, or modify his
<br /> leasehold interest or the terms on which he has such leasehold interest, or to agree to do so, without the written
<br /> tonsent of Beneficiary being first obtained, and (6)all payments and monetary obligations �equired of the owner of
<br /> suth property under any declaration or covenants, condit�ons and restrictions pertaining to such property or any
<br /> modification thereof. Should Trustor fail to make any such payment,deneficiary,w�thout cuntesting the validity or
<br /> amount, may elect to make or advance such payment together with any costs, expenses, fees or charges relating
<br /> � thereto, including employing counsel and paying his reasonable fees. 7rustor agrees to notify Beneficiary
<br /> immediately upon receipt by Trustor of not�ce of any increase m the assessed value of such property and agrees that
<br /> Beneficiary,in the name of Trustor may contest by appropriate proceedings such�ncrease in assessrnent.
<br /> � tOtOtOCTt 11EV.y9{�p�A of 6
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