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201501277
<br />insurance proceeds or any part thereof, may be applied by Beneficiary at its option either to the reduction of
<br />the indebtedness hereby secured or to the restoration or repair of the property damaged. In the event of a
<br />Trustee's sale or other transfer of title to said property in extinguishment of the indebtedness secured
<br />hereby, all right, title, and interest of the Trustor in and to any insurance policies then in force shall pass at
<br />the option of the Beneficiary to the purchaser or Beneficiary.
<br />f. He will keep the said premises in as good order and condition as they are now and will not commit
<br />or permit any waste thereof, reasonable wear and tear excepted, and in the event of the failure of the
<br />Trustor to keep the buildings on said premises and those to be erected on said premises, or improvements
<br />thereon, in good repair, the Beneficiary may make such repairs as in the Beneficiary's discretion it may
<br />deem necessary for the proper preservation thereof, and any sums paid for such repairs shall bear interest
<br />from the date of payment at the rate specified in the note, shall be due and payable on demand and shall be
<br />fully secured by this Deed of Trust.
<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 of this
<br />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
<br />substantially alter any building without the written consent of the Beneficiary.
<br />9. In the event the Trustor fails to pay any federal, state or Local tax assessment, income tax or other
<br />tax 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 Trustor shall pay and discharge the
<br />indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge all taxes and liens and
<br />costs, fees, and expenses of making, enforcing and executing this Deed of Trust, then upon written request of the
<br />Beneficiary and the surrender of the Deed of Trust and the note to the Trustee, the Trustee shall, after payment by
<br />Trustor of the Trustee's fees, reconvey the property to the Trustor or to the person or persons legally entitled thereto.
<br />10. The Trustor covenants that he is lawfully seized and possessed of and has the right to sell and
<br />convey said property; that the same is free from all encumbrances except liens and encumbrances now of record;
<br />and that he hereby binds himself and his successors in interest to warrant and defend the title aforesaid thereto and
<br />every part thereof against the lawful claims of all persons whomsoever.
<br />11. For better security of the indebtedness hereby secured, the Trustor upon the request of the
<br />Beneficiary, its successors or assigns, shall execute and deliver a supplemental mortgage or mortgages covering any
<br />additions, improvements, or betterments made to the property hereinabove described and all property acquired after
<br />the date hereof. Furthermore, should Trustor fail to cure any default in the payment of a prior or inferior
<br />encumbrance on the property described by this instrument, Trustor hereby agrees to permit Beneficiary to cure such
<br />default, but Beneficiary is not obligated to do so; and such advances shall become part of the indebtedness secured
<br />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
<br />of 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 Trustor to execute
<br />and deliver valid acquittances thereof and to appeal from any such award.
<br />13. The irrevocable right to appoint a substitute Trustee or Trustees in hereby expressly granted to the
<br />Beneficiary, his successors or assigns, to be exercised at any time hereafter without specifying any reason therefore,
<br />by filing for record in the office where this instrument is recorded a substitution of Trustee. Prior to recording the
<br />substitution of Trustee, a copy of the instrument of the substitution of the successor Trustee shall be mailed to the
<br />Trustor and all persons who have requested notice of default and notice of sale by filing such request with the office
<br />of Register of Deeds where this Deed of Trust is recorded.
<br />14. If more than one person joins in the execution of this instrument as Trustor, or if anyone so joined
<br />be of the feminine sex, the pronouns and relative words used herein shall be read as if written in the plural or
<br />feminine, respectively, and the term "Beneficiary" shall include any payee of the indebtedness hereby secured or
<br />any assignee or transferee thereof whether by operation of law or otherwise. The covenants herein contained shall
<br />bind and the rights herein granted or conveyed shall inure to the respective heirs, executors, administrators,
<br />successors, and assigns of the parties hereto.
<br />15. In compliance with section 101.1(d) of the Rules and Regulations of the Small Business
<br />Administration (13 C.F.R. 101.1(d)), this instrument is to be construed and enforced in accordance with applicable
<br />Federal law.
<br />16. 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 of
<br />this instrument.
<br />17. The sale of the real estate, which is the subject of this Deed of Trust, without the prior written
<br />consent of the Beneficiary is agreed to be a material default by the Trustor, and the Beneficiary shall have the option
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