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200107251
<br />other leases; all easements and rights of way; all rights of homestead
<br />and homestead exemption and any surviving spouse's marital or distribu-
<br />tive share, and all other contingent rights in and to said premises; and
<br />All fixtures, improvements, buildings, and the plumbing, heating,
<br />ventilating and lighting systems and equipment therein, all of which
<br />shall be construed and considered as affixed to and part of the real
<br />estate.
<br />All of the foregoing estate, property and interest hereby conveyed to the
<br />said Trustee is hereinafter collectively referred to as the "Property."
<br />TO HAVE AND TO HOLD the same unto the said Trustee, Trustee's successors
<br />and assigns forever, IN TRUST HOWEVER and WITH POWER OF SALE hereby expressly
<br />granted unto the said Trustee, Trustee's successors, and assigns for the
<br />purpose of securing:
<br />(a) The payment of Trustor's just indebtedness to Beneficiary in the
<br />principal sum of One Hundred Thirty -five Thousand Five Hundred Dollars
<br />($135,500.00) for money borrowed, with interest thereon, all as evidenced by
<br />and in strict accordance with the terms of that certain promissory note
<br />hereinafter called the "Note ", bearing even date herewith made payable to the
<br />order of Beneficiary, executed by Darrell Stuart Hiltzman, and providing for
<br />the payment of said indebtedness in installments, subject to acceleration of
<br />maturity on default in the payment of any installment of principal or
<br />interest or in the performance of any covenant, agreement or warranty
<br />contained in this Deed of Trust;
<br />(b) The performance of each agreement, covenant and warranty of Trustor
<br />herein contained or set forth in the Note or any agreement or instrument
<br />executed by Trustor in connection with the indebtedness hereby secured; and
<br />(c) The payment of any sum or sums of money with interest thereon which
<br />may be hereafter paid or advanced under the terms of this Deed of Trust.
<br />NOW, THEREFORE, TO PROTECT THE SECURITY OF THIS DEED OF TRUST, Trustor
<br />does for Trustor and for Trustor's heirs, representatives, vendees,
<br />successors and assigns, the owners of said Property, hereby expressly
<br />covenant, agree and warrant to and with the Trustee and Beneficiary, and
<br />their successors, vendees and assigns:
<br />First: That the Trustor hereby covenants and agrees, to the extent
<br />permitted by law, as follows: (a) to pay promptly when due the principal and
<br />interest and other sums of money provided for in the Note and in this Deed of
<br />Trust; (b) to promptly pay before delinquency all taxes, assessments and
<br />other charges imposed by law upon the Property, the Trustor's interest
<br />therein, or upon this Deed of Trust or the Note; insurance and taxes shall be
<br />paid to Beneficiary on a monthly basis and placed in escrow. The initial
<br />payment shall be $291.67 per month for taxes and $63.75 for insurance which
<br />shall be adjusted as needed; provided, however, that in the event of any
<br />change of the law providing for the taxation of deeds of trust or debts
<br />thereby secured so as to affect this Deed of Trust, the entire indebtedness
<br />secured hereby shall at the option of the Beneficiary become due and payable;
<br />(c) to keep the above - described Property and the improvements thereon in good
<br />condition and repair and not to commit or suffer waste thereof, and except as
<br />authorized in any schedule annexed hereto and forming a part hereof; (d) to
<br />maintain and deliver to Beneficiary policies of insurance against such
<br />hazards on the buildings and improvements now or hereafter located on or
<br />constituting a part of the Property as the Beneficiary shall require, in such
<br />companies and amounts and with such loss payable clauses as shall be
<br />satisfactory to the Beneficiary; that in the event of loss, Beneficiary is
<br />expressly authorized to settle or compromise claims under said policies and
<br />the proceeds thereof shall be paid to the Beneficiary who may apply the same
<br />or any part thereof on the indebtedness secured hereby or toward the
<br />reconstruction or repair of said buildings and improvements or release same
<br />to the Trustor; (e) to pay any lien, claim or charge against the Property
<br />which might take precedence over the lien hereof; (f) to pay on demand all
<br />legal expenses, title searches, appraisal or attorneys' fees reasonably
<br />incurred or paid by Beneficiary to collect the Note or foreclose or protect
<br />the lien of this Deed of Trust; (g) that in the event Trustor shall fail to
<br />comply with the provisions of (a) through (f) above, the Beneficiary may
<br />expend such funds and take such action as is necessary to remedy such failure
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