|
To protect the security or rums mcwu wi. - -a - •
<br />hereby covenants and agrees as'follows..
<br />1. Pa went of indebtedness. To pay when due, the princi-
<br />pal of and the In terest on, the indebtedness evidenced by- the
<br />note, charges, fees and all other sums as provided in the loan
<br />instruments.
<br />2. Title. Trustor is the owner of the property and has
<br />the right 'and authority. to execute this Deed of Trust in respect
<br />to the property. - -- -- —
<br />3. Taxes and Assessments.. To pay, when due, all taxes,
<br />special assessments.an all other charges against the.property,
<br />before the same become delinquent, and, in the event Beneficiary
<br />shall so require, to add to the payments required under -the note
<br />secured hereby, such, amount as may be sufficient to enable
<br />Beneficiary to pay such taxes, assessments or other charges as
<br />they become due.
<br />4. Repair, Maintenance and Use. To not commit waste on or
<br />damage to_the property and -to use due care to prevent others from
<br />so doing; to keep the house and irrigation equipment situated ,
<br />upon the a €oredescribed real estate in good condition and repair;
<br />to keep the'property free 'from_ mechanics or other liens not
<br />expressly subordinated to the lien hereof; to not make; suffer or
<br />permit any nuisance to exist nor to diminish or impair the value
<br />of the property by any act or omission to act; and to comply with
<br />all requirements of law with respect to the property.
<br />5. Condemnation. In the event the property, or any part
<br />thereof, shall be to en by eminent domain, Beneficiary is
<br />entitled to collect and receive all compensation which may be
<br />paid for any property taken or for damages to property not taken,
<br />and Beneficiary shall apply such compensation, at its option,
<br />either to a reduction of the indebtedness secured hereby or to
<br />repair and -restore the property so taken.
<br />6. Performance by Beneficiary. Beneficiary may, but shall
<br />have no obi gatlon to, do any act which Trustor has agreed but
<br />failed to do, and Beneficiary may also do any act it. deems
<br />necessary to protect the lien hereof. Trustor agrees to repay,
<br />upon demand, any sums so expended by Beneficiary for the above
<br />purposes, and any sum so expended by Beneficiary shall be added
<br />to the indebtedness - secured hereby and become secured by the lien
<br />hereof. Beneficiary shall not incur any personal liability
<br />because of anything it may do or omit to do hereunder.
<br />7.
<br />Assignment of Rents. Beneficiary shall have the right,
<br />power and authgrity during the continuance of this Deed of Trust
<br />to collect the rents, issues and profits of the property and of
<br />any personal property located thereon 'with or without taking
<br />possession of the property affected hereby, and Trustor hereby.
<br />absolutely and.unconditionally assigns all such rents, issues and
<br />profits to Beneficiary. Beneficiary, however, hereby consents to
<br />Trustor's collection and retention of such rents, issues and
<br />profits as they accrue and become payable, so long as Trustor is
<br />not, at such time, in default with respect to payment of any
<br />indebtedness secured hereby, or in the performance of any agree-
<br />- n f s:.,r..ul� da —scri l ed hero _fiRt...t�t, - --
<br />ment hereunu-6r, Fr ar�j� eve „�. :, ..�:.�.p ..���_ - - - -- -�
<br />respect to this Deed of Trust shall. have occurred and be con-
<br />tinuing, Beneficiary, as a matter of right and without notice to
<br />Trustor.or ' anyone claiming under Trustor, and without regard to
<br />the value of the trust estate or the interest of the Trustor
<br />therein, shall have the right to apply to any court having juris-
<br />diction to appoint a receiver of the property.
<br />-2-
<br />A
<br />
|