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9o�-- 104912 <br />of insurance may not be cancelled by said carrier without <br />fifteen llS) days written notice to BENEFICIARIES:. <br />E. In -the event the TRUSToRS fail' or neglect ,.to, pay taxes, and <br />procure .casualty insurance, all, as above,. set' forth, then, <br />BENEFICIARIES may pay•such taxes and procure,such insurance, <br />and . all sums - exuded and advanced by. BENEFICIARIES and <br />TRUSTEE in accordance with the provisions contained herein are <br />secured hereby and, without demand, -shall be immediately due <br />and payable by the TRUSTORS•and - shall bear interest at the <br />rate of eleven percent (11 %) per annum until paid; provided <br />however, that at the .option of the BENEFICIARIES and TRUSTEE, <br />such advancements for payment of taxes and insurance may be <br />added to the principal.• balance of any indebtedness secured <br />- . - - - -heiceby-- and- -shall -bear- interest at the rate of eleven percent <br />(111) per annum until. paid, <br />TRUSTORS covenant and agree that a failure to make any <br />payment, either principal or interest, on the Note secured hereby <br />when due, and. payable, or a failure to comply with any of the <br />covenants and agreements herein made shall cause the whole sum of <br />money hereby secured to 'immediately due and collectible at <br />the option of the BENEFICIARIES, and BENEFICIARIES shall have the <br />right to cause Notice, of Default•to be given and the premises to <br />4 <br />be sold as provided herein. <br />The parties mutually agree as follows: <br />A. At any time and from time to time upon written request of <br />BENEFICIARIES, payment of fees and presentation of this Deed <br />of Trust and the Note for endorsement (in case of full <br />reconveyance, for cancellation and retention)., without <br />affecting the liability of any person for the payment of the <br />indebtedness, TRUSTEE may (a) consent to the making of any map <br />oi; plat of said property; (b) join in granting any easement or <br />creating any restriction thereon; (c) join in any <br />subordination or other agreement affecting this Deed of Trust <br />j or the lien or charge thereof; (d) reconvey, without warranty,,. <br />j <br />all or any part of said property upon request of <br />BENEFICIARIES. <br />B. The grantee in any Deed of Reconveyance may be described as <br />"the person or persons entitled thereto ", and the recitals <br />j therein of any matters or facts shall be conclusive proof of <br />the truthfulness thereof. Reconveyance shall operate as a <br />reassignment of rents and profits assigned to TRUSTEE. <br />C. Upon default by TRUSTORS in the payment of indebtedness <br />secured hereby or in the performance of any agreement <br />hereunder, FI <br />BENECIARIES may declare all sums secured hereby <br />immediately duef and payable by delivery to TRUSTEE "of written <br />declaration of default. If BENEFICIARIES desire said property <br />to be sold, they shall deposit with. TRUSTEE this Deed of <br />Trust and all promissory notes and documents evidencing <br />expenditures secured hereby, and shall deliver to TRUSTEE a <br />written Notice of Default and election to cause said property <br />to be sold in the form required by law, which shall be duly <br />filed for record by TRUSTEE. <br />(1) After the lapse of such time as may be required by law <br />(presently being one '(1) month following the recordation <br />of said Notice of Default), Notice of Default and Notice <br />of Sale having been given as required by law, TRUSTEE, <br />without demand on TRUSTORS, shall sell.said property on <br />the date -a- nd at the time and place 'designated In- said <br />Notice of Sale, at public auction to the highest bidder, <br />the purchase price payable in lawful money of the united <br />States at the time of sale. The person conducting the <br />stile may, for any cause he deems expedient, postpone the <br />sale from tine to time until it shall be completed and in <br />every such case, notice of postponement shall be qi ven by <br />public declaration thereof by such person..at the time and <br />place last appointed for the sale; provided, if the sale <br />is ..pnstl�etitted <br />for J.gng�r than . c)ne (1 ) day beyond tine clay <br />de:; i ��trl4lt r�ti i n t. hr. tJcft ice •of Sale, not ice t hereof � t►a l ] tic- <br />(!E <br />Z <br />11 <br />• �f <br />so <br />P <br />j� <br />i <br />r <br />