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201905536
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Last modified
12/9/2019 6:26:19 PM
Creation date
9/10/2019 8:33:49 AM
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DEEDS
Inst Number
201905536
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201905536 <br />2000031513-Modl / DLH 3710787003 <br />on said premises, or improvements thereon, in good repair, the Beneficiary may make such <br />repairs as in the Beneficiary's discretion it may deem necessary for the proper preservation <br />thereof, and any sums paid for such repairs shall bear interest from date of payment at the rate <br />specified in the note, shall be due and payable on demand and shall be fully secured by this Deed <br />of Trust. <br />g. He will not' without the prior written consent of the Beneficiary voluntarily create or <br />permit to be created against the property subject to this Deed of Trust any lien or liens inferior or <br />superior to the lien of this Deed of Trust and further that he will keep and maintain the same free <br />from the claim of all persons supplying labor or materials which will enter into the construction <br />of any and all buildings now being erected or to be erected on said premises. <br />h. He will not rent or assign any part of the rent of said property or demolish, remove, or <br />substantially alter any building without the written consent of the Beneficiary. <br />9. In the event the Trustor/Grantor fails to pay any Federal, state, or local tax assessment, <br />income tax or other tax lien, charge, fee, or other expense charged to the property hereinabove described, <br />the Beneficiary is hereby authorized to pay the same and any sum so paid by the Beneficiary shall be <br />added to and become a part of the principal amount of the indebtedness evidenced by said promissory <br />note. If the Trustor/Grantor shall pay and discharge the indebtedness evidenced by said promissory note, <br />and shall pay such sums and shall discharge all taxes and liens and the costs, fees, and expenses of <br />making, enforcing, and executing this Deed of Trust, then this Deed of Trust shall be canceled and <br />surrendered. <br />10. The Trustor/Grantor covenants that he is lawfully seized and possessed of and has the right <br />to sell and convey said property; that the same is free from all encumbrances except as hereinabove <br />recited; and that he hereby binds himself and his successors in interest to warrant and defend the title <br />aforesaid thereto and every part thereof against the lawful claims of all persons whomsoever. <br />11. For better security of the indebtedness hereby secured, the Trustor/Grantor, upon the request <br />of the Beneficiary, its successors or assigns, shall execute and deliver a supplemental mortgage or <br />mortgages covering any additions, improvements, or betterments made to the property hereinabove <br />described and all property acquired after the date hereof (all in form satisfactory to Grantee). <br />Furthermore, should Trustor/Grantor fail to cure any default in the payment of a prior or inferior <br />encumbrance on the property described by this instrument, Trustor/Grantor hereby agrees to permit <br />Beneficiary to cure such default, but Beneficiary is not obligated to do so; and such advances shall <br />become part of the indebtedness secured by this instrument, subject to the same terms and conditions. <br />12. That all awards of damages in connection with any condemnation for public use of or injury <br />to any of said property are hereby assigned and shall be paid to Beneficiary, who may apply the same to <br />payment of the installments last due under said note, and the Beneficiary is hereby authorized, in the <br />name of the Trustor/Grantor, to execute and deliver valid acquittances thereof and to appeal from any <br />such award. <br />13. The irrevocable right to appoint a substitute trustee or trustees is hereby expressly granted to <br />the Beneficiary, his successors or assigns, to be exercised at any time hereafter without notice and without <br />specifying any reason therefor, by filing for record in the office where this instrument is recorded an <br />Page 5 <br />
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