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<br />89- 103304
<br />1. Payment of Indebtedness. To pay when due, the principal of, and the interest
<br />on, the indebtedness evidenced by. the note, charges, fees and all other sums as pro -
<br />( vided in the loan instruments,
<br />2. Title. Trustor is the owner of the property and has the right and authority
<br />to execute this Deed of Trust in,respect to the property.
<br />3. Taxes and Assessments. To pay, when due, all taxes, special assessments
<br />and all other charges against the property, before the same become delinquent, and,
<br />in the event Beneficiary shall so require, to add to the payments required under
<br />the note secured hereby, such amount as may. be sufficient to enable Beneficiary to
<br />pay such taxes, assessments or other charges as they become due..
<br />4. Insurance. To kEep the ipprovements now or hereafter located on the real
<br />estate described herein insrured against damage by fire and such other hazards as
<br />Beneficiary may require, in amounts and companies acceptable to Beneficiar ,,and
<br />with loss payable to Beneficiary. In case of loss under such policies; BeneAiciary
<br />is authorized to adjust, collect and compromise, in Its discretion, all claims there-
<br />under and, at its sole option, is authorized to either apply the proceeds to the
<br />restoration of the property or upon the indebtedness secured hereby, but payments
<br />required by the note shall continue until ttie sums secured hereby are paid in full.
<br />5. Repair, Maintenance and Use.- ',To: promptly repair, restore or rebuild any
<br />buildings or improvements now or hereafter. on the property;. to keep the property
<br />in good condition and repair, without masts and free from mechanics or other liens
<br />not expressly subordinated to the ,Ren hereof; to not make, suffer or permit any
<br />nuisance to exist nor to diminish or impair the value of the property by any act
<br />or omission to act; and to comply with all requirements of law with respect to the
<br />property.
<br />6. Condemnation. In the event the property, or any part thereof, shall be
<br />taken by em nent domain, deneficiary,is' entitled - to collect and receive'all compensa-
<br />tinn which may, be paid for any property taken or for damages to property not taken,
<br />and Beneficiary shall apply such compensation, at its option, either to a reduction
<br />of the indebtedness secured hereby or to repair and restore the property so taken:
<br />7. Performance by Beneficiary. . Beneficiary may, but shall have no obligation
<br />to, do any .act which Truster •has agreed but failed to do, and Beneficiary may also
<br />do any act: it deems necessary to protect the lien hereof. Trustor agrees to ',repay,
<br />upon dem4rd, any sums so expended by Beneficiary for the above purposes, and any
<br />sum so expended by Beneficiary shall be added to the indebtedness secured hereby
<br />and become secured by the lien hereof. Beneficiary shall not incur any personal
<br />liability because of anything it may do or omit to do hereunder;.:.
<br />. "a. .Assignment of Rents. Beneficiary shall have the right, power and authority
<br />during t a continuance of this Deed of Trust to collect the rents, issues and profits
<br />of; the property and of any personal property located thereon with or without taking
<br />possessicri of the property affected hereby, and Trustor hereby absolutely and uncondi-
<br />tionally assigns all such. rents, issues an profits to`Berieficiary. Beneficiary,
<br />however, hereby consents ta'Trustor's collection and retention of such rents, issues
<br />and profits as they "accrue and becai me payable, so long as Trustor is not, at such
<br />t,irce, in default with respect to paiyment of any indebtedness secured hereby, or in
<br />tins performance of any agree gent hereunder. If any event of default described:. here-
<br />after in respect to this Deed of Trust shall have occurred and be continuing, Benefi-
<br />ciary, as a matter of right and without notice to Trustor or anyone claiming under
<br />Tr•�sstor, and without. regard to the value of the trust estate or the interest of the
<br />Trb'stor therein, shall have the right to apply to any court, � having jurisdiction to
<br />appoint a.'receiver of the property.
<br />9. Transfer of Property. If all or any part pf•the property or any interest
<br />of Trustor therein is sold, transferred or further en'aumbered without the express
<br />or written consent of Beneficiary, Beneficiary may, at its sole option, declare all
<br />sums secured by this Deed of trust to be immediately due and payable and proceed
<br />to the remedies available to it under the default provisions contained herein.
<br />la- Cye; �a of D_ efault. Arty ui the fulluwiily events shall be oeemed an event
<br />of default hereunder:
<br />(a) Trustor shall have failed to make payment of any in-
<br />stallment of interest, principal or principal and interest or
<br />any other sums secured hereby when due;
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