201701707 - Laserfiche WebLink

Browse

201701707 Prepayment Privileges 9. When not in default, the Trustor may prepay the full outstanding balance at any time during the year without any penalty or charge. Discharge 10. When the Trustor pays the Principal Amount in full the Beneficiary will execute a Deed of Reconveyance and record it to clear the title to the Property. Covenants and Warranties 11. The Trustor warrants and agrees that: a. the Trustor has good title to the Property; b. the Trustor has the authority to trust the Property; c. on default, the Beneficiary will have quiet possession of the Property; d. the Property is free from all encumbrances except bank loan on this secured property e. the Trustor will execute further assurance of the Property as will be required; and f. the Trustor has not done any act to encumber the Property.. Fixtures and Additions 12. The Trustor agrees that the Property includes all property of any kind that is now or at any time in the future attached or fixed to the land or buildings or placed on and used in connection with them, as well as all alterations, additions and improvements to the buildings. Payment of Taxes and Other Encumbrances 13. The Trustor will pay all taxes and other rates levied on the Property and all accounts for utilities supplied to the Property and all charges, trusts, liens and other encumbrances on the Property when they are due and comply with his other obligations under them. Upon the Beneficiary's request, the Trustor will immediately give receipts showing that the taxes and other accounts have been paid. No Sale Without Consent 14. The Trustee will not sell, transfer, lease or otherwise dispose of all or any part of the Property or any interest in the Property, or if a corporation, permit a change in control, without the Trustor's and Beneficiary's prior written approval and if approved, without such approved purchaser, transferee or lessee entering an assumption agreement in form satisfactory to the Beneficiary. Acceptance of any payments from a purchaser, transferee or lessee or after a change in control not approved in writing, will not constitute an approval or waiver by the Beneficiary.