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<br />89-100591
<br />TO PROTECT THE SECURITY OF THIS TRUST DEED, TRUSTOR HEREBY COVENANTS AND AGREES AS FOLLOWS-
<br />1 PAVMANT OF PRINCIPAL AND INTEREST. Trustor shall promptly pay when due the principal Of and interest on Ine indebtedness
<br />evidenced by the Note, and all other charges and fees as provided in the Note, and the principal of and interest on any Futuro Advances secured
<br />by this Trust Deed.
<br />2. WARRANTY OFTITLE. Trustor is lawlullyseized and possessed of good and indefeasible title and estate tothe Property hereby convoyed
<br />and has the right togrant and convey the Properly; the Property is free and clear of all liens and encumbrances except lions now of record
<br />Trustor will warrant and defend the title to the Properly against all claims and demands. : and
<br />3. MAINTENANCE AND COMPLIANCE WITH LAWS. Trustor shall keepthe Property in good repair and cortdrtrrn And shall not commit waste
<br />or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Truf; fJaed rs cn a leasehold. No
<br />j Improvement now or hereafler erected upon the Properly shall be altered, removed or demolished without the pnctr vris( fled is on ileaseh ld. N
<br />Trustor shall comply with all laws, ordinances, regulations, covenants, conditions and restrictionss1feGUngthePrgptt "liynCorrTonl f Be suffer at
<br />permit any act to be done in or upon the Property in violation of any law, ordinance, regulation, covenant, cond(flr.;r)ot r e §(firt,rn. Trustor shall
<br />complete or restore promptly and in good workmanlike manner any improvement on the Property which may be.a�n,ngedo} :dins ,troyed anday,
<br />when due, all claims for labor performed and materials furnished therefor and fur any alterations thereof. p
<br />4. INSURANCE. Trustor, at Its expense, will maintain with Insurors approved by Beneficiary, Insurance with respect to the -mpmvemenis and
<br />Personal property, constituting the Property,, against•loss by fire, lightning, tornado, and other perils and hazards covered by &1•s,tdard extended
<br />coverage indorsement. In an amount.apuAl.I o a1 least.one hundred percent (100 0,0) of the full replacement value thereof and insurance against
<br />suchOlitgr hazards and in such amouunt. aFr4customarily carried by owners and operators of similar properties ClTaS Beneficiary may require for
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<br />its pruF; c�Ction.Trustpr will comply tNiths c, i other requirements As Beneficiary may from time to time request for tjreen otectioribyinsuranceofthe
<br />PnteW> tsof the respective parties. Arr insurance policies maintained pursuantto this Trust Deed shall name Trustor and Rene!; as incur ed, as
<br />their respective interests may appear. and provide that there be no cancellation or modification without at least 15 days prior w;(tten notification to
<br />l Trustee and Beneficiary may procure such insurance in accordance with the provisions of paragraph 6 hereof. Trustor shalldetiverto Beret sciary
<br />the original policies of insurance and renewals thereof or memo copies of such policies and renewals thereof. Failure t3 furnish such insurance by
<br />Trustor, or renewals as required hereunder shall, at the option of Beneficiary, constitute a default.
<br />5, TAXES, ASSESSMENTS AND CHARGES. Trustor shall pay all taxes, assessments and other charges, including, without limitation, fines
<br />and imposiliona attributable to the Property and leasehold payments or grtxund rents. If any, befo';et'e same become delinQoent Trustor shall
<br />promptly furrishtabeneficiary all notices of, a:raunts due under this paragraph, and in the event Trustor shall make payment directly, Trustor shall
<br />prornp, }y furnish to Beneficiary receipts e0dencing such payments. Trustor shall pay all taxes and assessments which may be levied upon
<br />Beneficiary's interest herein or upon this Trust Deed wit houlregard to any law that may be enacted imposing payment of the whole or any part
<br />thereof upon the Beneficiary.
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<br />6. ADDITIONAL LIENS AND PROTECTIONOF BENEFICIARY'S SECURITY, Trustor shall mako all Payments of intorca and i+ri�,crur,i and
<br />paymnnic of any other charges, f&es anti expenses contracted to be paid to any existing or subsequent lienholder or beneficiary, under any
<br />existing or subsequent mortgage or trust deed before the date they are delingent or in default, and Promptly
<br />liens, claims or charges which may jeopardize the security granted herein. If. Trustor fails to make any such paymentorfails to Perform any of the
<br />covenants and agreements contained in this Trust Deed, or the Note referred to herein, or in any prior or subsequent trust deed, or if any action or
<br />proceeding is commenced which materially affects Beneficiary's interest in the Property.
<br />Inge, proceedings involving a decedent, notice of sale by Trustee, notice�cftfefault by Trustee. mortgage foreclosute action. ord :f Traustor faille to
<br />pay Trustor's debts generally as they become due, then Beneficiary, at Sen, ficiary's option and without notice to.or demand upon Trustor and
<br />without releasing Trustor from anyobligation hereunder, may make such appearances, disburse such sums and ti�kesuch action as is necessary
<br />to protect Beneficiary's interest, including, but not limited to, disbursement of reasonable attorney's fees. payment, purchase, contest or
<br />compromise of any encumbrance, charge or'Neo, entry upon the Propertylo make repairs, or declaration of default under this Irtust Deed. In the
<br />event that Trustor shall fail to procure insurance or to pay taxes, assessments, or any other charges or to make any payments ta'any existing or
<br />subsequent lienholders or existing or subseauent.beneficiaries, Beneficiary may procure such insurance and make such payment, but shall not
<br />be obligated to do so. Any amounts disbursed by Beneficiary pursuant to this Paragraph 6 shall become additional indebtedness of Trustor
<br />securedby this Trust Deed, :Such amounts shall be payable upon notice from Beneficiary to Trustor requesting payment thereof, and shall bear
<br />interest ram the date of disbursement at the rate payable fraxm:;'me IQ' MO on outstanding principal under the Note unless payment of intetestat
<br />such rate would be contrary tin applicable law, jn which event sucp emounrs shall bear interest at the highest rate permissible under applicable
<br />law. Nothing contained in this Paragraph 6 shalt require Beneficiary to incur any expense or take any action hereunder.
<br />j 7. ASSIGNMENT OF RENTS, Beneficiary shall have the right, power and authority during the continuance oll this Trust Deed to collect the
<br />rents, issues and profits of the Property and of any personal Property located thereon with or without taking possession of the property affected
<br />hereby, and Trustor hereby absolutely and unconditionally assigns all such rents, issues and profitsto Beneficiary. Beneficiary, however, hereby
<br />consents to the Trustor's collection and retention of such rents, issues and profits as they accrue and became payable so long as Trustor is not, at
<br />such time, in default with respect to payment afany indebtedness secured, hereby. Orin the performance of any agreement hereunder. Upon any
<br />such default, Beneficiary may at any time, eithe6h person, by agent, or bl? a«ecerver to be appointed by arcourt. without notice and without regard
<br />to the adequacy of any security for the indebtedness hereby 'secured. (a► enter upon and take possessron of the PfOPerty or an y'part thereof, and irr
<br />itsownnamesuefororotherwiil collect cludrents, issuesa: ndprofits, includingthosepastdueandunpaid, andapplythesari tr•;lesscostsand.
<br />expenses of operation and cotil¢rlian, including reasonable attorney's fees, upon any lndebtodrress; secured hereby, and ,ri such order as
<br />Beneficiary may determine; (bl perform such acisof repair or protection as maybe necessary or proper t.o conserve the value of the Property; (cl
<br />leasethe same or any partthereof for such rentaj�f:erm, and upon such conditions as its judgment tra ydictate. or terminate or adjust the termsarrd
<br />conditions of existing leases. Unless Trustor and Beneficiary thereof agree otherwise in writing, a:iyt application of rents. issues or profits to any
<br />indebtedness secured hereby shall not extend or postpone the due date of the installment payments as provided in said promissory note
<br />change file amount of such installments. The entering upon and taking possession of the Property, the collection of such rents, issues and r
<br />protI o O
<br />and the application thereof as aforesaid, shall not waive or cure any default or notice of default hereunder or invalidate any act done pursuant to
<br />such notice. Trustor also assigns to Beneficiary, asfurther security for the performance of the obligations secured hereby, all prepaid rents and all
<br />monies which may have been ormay hereafter be deposited with said Trustor by any lessee of the Property, to secure the payment o! any rent or
<br />damages, or upon default in the performance of any of the provisions hereof. Trustor agrees to deliver such rents and deposits to Beneficiary
<br />Delivery of written notrceof Beneficiary's exercise of the rights granted herein, to any tenant Occupying said premises shall be suffrcrentto require
<br />said tenant to pay rent to the Beneficiary until further notice.
<br />8. CONDEMNATION. If title to any part of the Property shall be taken in condemnation proceedings. by right of eminent domain or similar
<br />action, or shall be sold under threat of condemnation, all awards, damages and proceeds are hereby assigned aner shall be paid to Beneficiary
<br />who shall apply such awards, damages and proceeds to the sum secured by this Trust Deed, with the excess. it any, paid to Trustor 11 Trustor
<br />receives any notice or other information regarding such actions or proceedings. Trustor shall give prompt written notice thereof to Benefrcrary
<br />Beneficiary shall be entitled, at its option, to commence, appear in and prosecute in its own name any su ch action or proceedings and shall be
<br />entitled to make any compromise or settlement in connection with any such action or proceedings
<br />9. FUTURE ADVANCES. Upon requestolTrustor, Beneficiary at Beneficiary option, prior to reconveyance of the Property!o Trustor may
<br />make future advances to Trustor. Such future advances, with interest thereon. shall be secured byth:eTrustDEQd when evrocr. -Pd byP:or,, �r ;•w•
<br />noles sta!trg that said notes arO secured hereby. provided that at no time shall the secured pnrc ;pal ac:f !ut ;,re advances
<br />advanced to protect the security, exceed two hundred percent 1200 %) of the original pr,r :c,pal amounts secured hereb,r ^
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