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201508136
<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 Agreements) Principal Amount
<br />11/30/2015 267,750.00
<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 Sixty -Seven Thousand Seven Hundred Fifty Dollars and
<br />Zero Cents, ($267,750.00), exclusive of interest and protective advances authorized herein or in the
<br />loan agreement(s); provided further, that THIS PARAGRAPH SHALL NOT CONSTITUTE A
<br />COMMITMENT TO MAKE FURTHER OR ADDITIONAL ADVANCES IN ANY AMOUNT AT ANY
<br />TIME, WHETHER OR NOT THE TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN
<br />ADVANCED.
<br />This Trust Deed will be due 12/01/2030.
<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
<br />and to the above described property.
<br />This is a purchase money trust deed.
<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, permit, license, or
<br />privilege assigned to Beneficiary as additional security to this Trust Deed, including those in or on
<br />public domain.
<br />2. To insure and keep insured buildings and other improvements including fixtures and attachments
<br />now on or hereafter placed on the property to the satisfaction of Beneficiary. Such insurance will be
<br />endorsed with a loss payable clause to Beneficiary. On demand, Trustor will furnish said policies or
<br />proof of insurance to Beneficiary. Any sums so received by Beneficiary may be used to pay for
<br />reconstruction of the destroyed improvements or if not so applied may be applied, at the option of
<br />Beneficiary, in payment of any indebtedness matured or unmatured secured by this Trust Deed. Such
<br />insurance will be in an amount at least equal to the lesser of the loan balance, the actual cash value of
<br />the collateral, or the replacement cost of the property, and will at a minimum, cover losses caused by
<br />fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and
<br />hail. Trustor(s) will obtain and keep flood insurance in force to cover losses by flood as required by
<br />Beneficiary and by the National Flood Insurance Act of 1968, as amended, and by regulations
<br />implementing the same. Trustor(s) further agree that Beneficiary is not and will not be liable for any
<br />failure by Trustor(s) or by any insurer, for whatever reason, to obtain and keep this insurance in force.
<br />3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed
<br />on the property occupied and in good repair, maintenance, and condition and to neither commit nor
<br />permit any acts of waste or any impairment of the value of the property. Beneficiary may enter upon
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