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201601967
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Last modified
4/4/2016 11:50:28 AM
Creation date
4/4/2016 11:50:27 AM
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DEEDS
Inst Number
201601967
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201601967 <br />said real property being hereinafter referred to as "the <br />Property," the intention hereof being to convey absolute title in <br />fee simple. <br />FOR THE PURPOSE OF SECURING the performance of each agreement and <br />covenant of Trustor herein contained and the payment of the <br />principal sum of Sixty Thousand Dollars ($60,000.00), as <br />evidenced by a promissory note bearing even date (hereinafter <br />called "the note "), at the rate(s) of interest thereon, and other <br />amounts which may hereafter be paid or advanced under the terms <br />of this Deed of Trust; both the principal sum and interest <br />thereon being payable according to terms set forth in the note, <br />reference to which is hereby made, at the address of the <br />Beneficiary or at such other place as the holder of the note may <br />designate in writing; the final payment of principal and interest <br />payable under the note, if not sooner paid, is due and payable on <br />the 1st day of March, 2021. <br />Trustor and Beneficiary covenant and agree as follows: <br />1. Warranty of Title - Trustor is lawfully seized of the Property, and <br />has good right and lawful authority to sell and convey the Property; the <br />Property is free and clear of all liens and encumbrances except liens now of <br />record; and Trustor will warrant and defend the title to the Property unto the <br />Trustee and its successors and assigns forever, against the claims of all <br />persons. Trustor, at Trustor's expense, will maintain and preserve the lien <br />of this Deed of Trust as a lien upon the Property subject only to encumbrances <br />existing as of the date hereof, will cause this Deed of Trust, and each <br />amendment or supplement thereto, to be filed and recorded as a conveyance of <br />the Property in such manner and in such place, and will take such other action <br />as in the opinion of Beneficiary may be required by any present or future law <br />in order to perfect, maintain and protect the lien of this Deed of Trust, as <br />the same may be from time to time amended or supplemented. <br />2. Payment of Principal and Interest - Trustor shall punctually pay the <br />principal of, and interest on, the note, including any advances thereto as <br />provided herein, on the dates, at the place and in the manner provided therein <br />and will punctually perform all agreements, conditions and provisions of any <br />and all other security instruments given in connection with this transaction. <br />3. Preservation and Maintenance of Property - Trustor will not commit <br />or allow any waste upon the Property and will, at all times, maintain the same <br />in good order and condition and will make, from time to time, all repairs, <br />renewals, replacements, additions and improvements which are reasonably <br />required to prevent waste, impairment or deterioration of the Property. No <br />building or improvements now or hereafter erected upon the Property shall be <br />altered, removed or demolished without the prior written consent of the <br />Beneficiary. Beneficiary, or Beneficiary's agent(s), shall have the right, at <br />all reasonable times, to enter upon the Property for the purposes of <br />inspection thereof without thereby becoming liable to Trustor or any person in <br />possession holding under Trustor, provided, however, Beneficiary shall give <br />Trustor notice prior to any such inspection. <br />Page 2 of 9 Pages <br />
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