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• ra t T g.� 101918
<br />secured hereby. In no event and whether or not default hereunder has occurred, shall Senalicrary, by the fact of approving, accepting or
<br />obtainingsuch insurance. incur anyliabilityfortheamountofsuchinsurance , the fornr cr legal sufficiency of insurance contracts. solvency
<br />of insurers, or payment of tosses by insurers, and Truster hereby expressly assumes full responsibility therefore and liability, if any
<br />thereunder. In the event of loss. Trustor shall giveimmediato written notice to Benefiday, and Beneficiary may, but is not obligatedto, make
<br />proof of toss if not made promptly by Trustor: In caseof any loss, the amountcollectedurderany policy of insurance on such property may. at
<br />the option of the Beneficiary, be applied by Beneficiary upon any indebtedness and /ar obligation secured hereby and in such order and
<br />amount as Beneficiary maydetemrine; or said amount oranyportion thereof may, attheoptIon of the Beneficiary, either be usedin replacing
<br />or restoring the improvements partially or totally destroyed to a condition satisfactory to said Beneficiary, or said amount or any portion
<br />thereof may be released to:the Trustor. In any such event; neither the Trustee nor the Beneficiary shall be obligated to see to the proor
<br />application thereof, nor shall the amount so released or used be deemed a payment on any indebtedness secured hereby. Such application,
<br />use and /or release shah not cure or waive any default or notice of default hereunder orjttvalidate any act done pursuant to such notice. Any
<br />unexpired insurance andall.retumable insurance premiumsshail insure to the benefit OIL and pass to, the purchaserofthe property covered
<br />thereby atany Trustee's sale hold hereunder. If said proper[yissold pursuantto the pow6r of sale containedherein or pursuant to any decree
<br />cf foreclosure, all right, title and interest of Trustor in and tothe proceeds of fire and ott`ar insurance policies for damage prior to the safe.
<br />Rf7 ch proceeds are not received priorto the date of said sale, shall belong to Beriefic4lr . Truslw w;,`.1 Corrzptx with such other requirements
<br />and provide such other type of insurance as Beneficiary may require from time ra.t;;"afb r the prDCeG_;On b}r ,z —ranee of the interQsta; fpre
<br />Te.sPective pauses hereto. The provisions cF Ois paragraph, however, are su>z;'eal:ta th- -terns a-r , ir- any, of the First tti?orrt . •
<br />•Tc, ejf:5e dischargeat 1:0)daysbeforede, :TAXESAeiO7H S sQtp
<br />And asses- a^",.° .�ed�Zd � ��e �nt later than il,e da,s S:C aTeounts
<br />become due�r.�� �� f�.',� -r {��� w i:gn �.r•r,�- ..
<br />�aaues (t)afi t,colt^ra�r$,gayrnenl,, - o�rertt~ a- r�styahllgationsrequiredwrdueunderthe First Morigiaor any ob6gationsec ra
<br />' = b'Wh eart.Es sa--abecomedueandpayabi- ( 2) allotherencumbrrrrcas,. oharges and liens. wiihir"Gerest,on such property.tr,
<br />Z?t y. partthereof, which are. crappearto Beneficiary. initssolediscretan ,tobepriortootsuperiorhereto; (3) a%costs. fees and expenses of
<br />ONa trust, whether or not described herein; (4) fees or charges for any statement regarding the obligation secured hereby in any amount
<br />demanded by Beneficiary, not to exceed the maximum amount allowed by law therefore at the time when such request is made; (5) such
<br />other charges as the Beneficiary maydeem reasonable for services rendered by Beneficiary and furnished atthe request of Trustor or any
<br />successor in interest to Trustor, (6) if such property includes a leasehold estate, all payments and obligations required of the Trustor of his
<br />successor in interest under the terms of the instrument or instruments creating such leasehold; (7) all payments and monetary obligations
<br />required of the owner of such:property under any declaration of covenants, conditions and restrictions pertaining to such property or any
<br />modification thereof; (8) all mortgage insurance or guaranty tees, premiums, or charges of any nature pertaining to such property. Trustor
<br />agrees to notify Beneficiary immediately upon receipt by Trustor of notice of any increa"s in the assessed value of such property and agrees
<br />that Beneficiary. in the name of Trustor, may contest by appropriate proceedings such increase in assessment.
<br />In the event of the passage of any law deducting from the value of real property for Ito purposes of taxation any lien thereon or changing
<br />in any way the laws for the taxation of deeds of trust or debts secured by deeds of trust for state or local purposes. or the manner of the
<br />collection of any such taxes, so as to affect this Deed of Trust, the holder of this Deed of Trust and of the obligations which it secures shall
<br />have the right to declare all sums secured hereby due as of a date to be specified by not less than 30 days' written notice to be given to
<br />Trustor by Beneficiary; provided, however, that such election shall be ineffective if Trustor is permitted by law to pay the whole of such tax in
<br />addition to all other payments required hereunderand iit. prior to such specifieddate, does pay such tax and agrees to pay any such tax when
<br />hereafter levied or assessed against such property, and such agreement shall constitute a modification of this Deed of Trust.
<br />FUNDS FOR TAXES AND INSURANCE: If Beneficiary shall so request Trustor.agrees that there shall be added to the periodical
<br />payment required to be made hereunderan amountestimated by Trustee to suffiicienitu enableTrustorto pay, at leastthirty(301 daysbefore
<br />delinquency, all general and special taxes, assessments, or other public chargesagainsi such property, the Promissory No4e,or upon Cron
<br />account of the debtor the lien of this Deed of Trust, together with premiums for insurame required to be provided under this Deed of Trust
<br />and wl: mortgage insurance or guaranty fees, premiums or similar charges and rro interest shall be payable to Trustor in respect theeof?
<br />UI, demand by Trustee. Tnastorshall deliverto Trusl% a1 :h additional sums of money as are necessary to snake up any deficiency ,,n, +t-
<br />amounts necessary tQ enable Trustee to pay any of t)'w �Jrego!ng items.
<br />COMPLIANCE WITH FIRST MORTGAGE: To comply with all of the requiremwt :, of the First Mortgage and keep the same in g,aoil4
<br />standing and free of default It payment of the principai re interest or any part of the Ptinoipat or interest seCiTed by the First Mortgage SIVII
<br />M. be madeatthatime specified In said First MortgagE; tt "n, regardless of any po:.fpsmement, extension, indualigenceorforgivenessthereof
<br />which may be agreed to or acquiesced in by the First Mortgagee, a sum equal tq the amount of such principal or part thereof shall
<br />immediately become due and payable In reduction of this Deedof Trust; provided, however, that nothing herein contained shall be deemed
<br />Or construed to entitle the owner or holder of this Deed of Trust to any payment in ezCess of the sum hereby secured and interest thereon.
<br />if the principal amount of the First Mortgage is increased over the amount of floe then unpaid principal thereof, then a sum equal to the
<br />arneunt of suet: increase shall immediately become due and payable in reduction of this trust,
<br />If there shall ce a default under the First Mortgage, Trustor or Beneficiary may, at their option, take such action or advance such funds as
<br />may be necessary to secure such default.
<br />Wherever used in this Deed of Trust, unless the context clearly indicates a contrary intent or unless otherwise specifically approved
<br />herein (a) the term "First Mortgage" shall be deemed to mean any mortgage(s) or Deed of Trust(s) specifically set forth herein above; (b)
<br />the word "First Mortgagee" shall be deemed to mean the Mortgagee(s) or beneficiary(s) name in the First Mortgage.
<br />SUMS ADVANCED TO BEAR INTEREST: To pay immediately upon demand any sums advanced or paid by Beneficiary or Trustee
<br />under any clause or provision of this Deed of Trust. Any such sums, until so repaid, shall bear interest at the rate set forth in the Promissory
<br />Note and shell be secured by this Deed of Trust.
<br />ASSIGNMENT OF DEPOSITS: That as additional security it this be a construction loan. Trustor hereby transfers and assigns to
<br />Beneficiary duringcontinuenceof these Trusts,all right, title andinierestto anyand ellowies deposited by Trustor ordepositedon behalf of
<br />Trustor with any city, county, public body or agency, sanitary district gas and /orelectric company. telephone company andany other body
<br />Of agency, for the Installation or to secure the installation of any utility by Trustor, pertaining to this property.
<br />FAILURE OF TRUSTORT ©COMPLY WITH DEED CIFTRUST; In the event Trustor should fail to Make any payment. or to do any act e
<br />provided in this Deed of Trust, of fail or perform an;r e&'Wion secured by th•:s Deed of Trust, or do any act Trustor agreed not to
<br />Beneficiary, but without obligation So to do Se,4 was= notice to or demand upon trrustor and without releasing Trustor from any ob!igv!cri
<br />hereof and widt! =: ontee "irgthe validity vrai±- durgckt. esame,may (a) pay, ma- esordothesame in such manner and tosuchexte�tas;t
<br />may deem necessary to pi t the Security hereof, Ser;eficiary being authorized is enter upon such property for such purposes, and i,1i{
<br />M.. purchase, contest Of &Ar.�?promise any encurnbra =;change or lien, which oi. its judgment is or appears t+ t)a prior orsumir -1
<br />and. (c) In ex melshig anv lush power, pay neees�ar/ costs, fees and expenses, employ coursel and pej -.ounsel's rrsscnat L :yaps.
<br />Trustor agrees to repay any amount expended on, (*t —,and of Beneficiary.
<br />IT IS MUTL6kLY AGREED THAT:
<br />;_iT!GA''Z4.I Trustor1raP; defend this Trust inanya&. IOnorptoceed' ngpurpo * tr. jgto affect such properly whether or not it affects tr•
<br />W.t r,t'y ra' ?,r r pUtpottrna'Zd affect the rights or powers of Beneficiary of Trustee, and shall file and prosecute all necessary clams and
<br />a.ir%.:; aT ts';ti ,kov ? or recover for any damage to or destruction of st?Zh property, and either Trustee or Beneficiary is hereby authorized.
<br />withvu ploy'' �Mv, Soto do. toCOmmence, appearinordefendanysuehaction, whetherbroughtbyor against Truster, Beneficiary orTrustee
<br />or witbor wtlhoul suit, td exerCil:e Or enforce any other right, remgdyor power evailabteor conferred hereunder, whether or not judgment be
<br />ontorod in any action or proceeding; and Trustur or Beneficiary may appear or intervene in any action or proceeding, and retain counsel
<br />th©racn_ and take goPh ar turn there,n;,•g e,thgr may to advised andamy Cottle. comptumrse or pay the same or any other claims and. in mat
<br />behalf and for any of said purposes. may expand and advant; osutl isumsorMonoyaselther may deamnecessary VYhrtherornotTruste,r
<br />�e�p< s�rgitrilptend9 ,Trr�;torandemand Shall Pay 811CO lsart9OXII)O 08ofHnnef,Ciary andTrusteE mr. t,, dryta,turcv;lrh,.eruthttc'an�f
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