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202000714
<br />(b) The performance of each agreement, covenant and warranty of Trustor herein contained or
<br />set forth in the Note or any agreement or instrument executed by Trustor in connection with the indebtedness
<br />hereby secured; and
<br />(c) The payment of any sum or sums of money with interest thereon which may be hereafter paid
<br />or advanced under the terms of the Deed of Trust.
<br />NOW, THEREFORE, TO PROTECT THE SECURITY OF THIS DEED OF TRUST, Trustor does
<br />for Trustor and for Trustor's heirs, representatives, vendees, successors and assigns, the owners of said
<br />Property, hereby expressly covenant, agree and warrant to and with the Trustee and Beneficiary, and their
<br />successors, vendees and assigns:
<br />FIRST: That the Trustor hereby covenants and agrees, to the extent permitted by law, as follows:
<br />(a) to pay promptly when due the principal and interest and other sums of money provided for in the Note
<br />and in this Deed of Trust; (b) to promptly pay before delinquency all taxes, assessments and other charges
<br />imposed by law upon the Property, the Trustor's interest therein, or upon this Deed of Trust or the Note;
<br />provided, however, that in the event of any change of the law providing for the taxation of deeds of trust or
<br />debts thereby secured so as to affect this Deed of Trust, the entire indebtedness secured hereby shall, at the
<br />option of the Beneficiary, become due and payable; (c) to keep the above-described Property and the
<br />improvements thereon in good condition and repair and not to commit or suffer waste thereof, and except
<br />as authorized in any schedule annexed hereto and forming a part hereof, neither to remove nor permit the
<br />removal of any timber, buildings, oil, gas, minerals, stone, rock, clay, fertilizer, gravel or top soil without
<br />the prior written consent of Beneficiary; (d) to maintain and deliver to Beneficiary policies of insurance
<br />against such hazards on the buildings and improvements now or hereafter located on or constituting a part
<br />of the Property as the Beneficiary shall require, in an amount not less than the total outstanding indebtedness
<br />herein and with such loss payable clauses as shall be satisfactory to the Beneficiary; that in the event of loss,
<br />Beneficiary is expressly authorized to settle or compromise claims under said policies and the proceeds
<br />thereof shall be paid to the Beneficiary who may apply the same or any part thereof on the indebtedness
<br />secured hereby or toward the 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 which might take precedence over
<br />the lien hereof; (f) to pay on demand all legal expenses, title searches, appraisal or attorneys' fees reasonably
<br />incurred or paid by Beneficiary to collect the Note or foreclose or protect the lien of this Deed of Trust; (g)
<br />that in the event Trustor shall fail to comply with the provisions of (a) through (f) above, the Beneficiary
<br />may expend such funds and take such action as is necessary to remedy such failure and all sums paid by the
<br />Beneficiary pursuant hereto with interest at the rate hereinafter provided shall constitute a lien upon the
<br />Property, shall be secured by this Deed of Trust, and shall be immediately due and repayable to the
<br />Beneficiary; (h) not to sell the Property or any portion thereof without the approval of the Beneficiary in
<br />writing; and in the event of any sale herein prohibited, then the entire indebtedness secured by this Deed of
<br />Trust shall, at the option of the Beneficiary, become due and payable; and in the event of any sale herein
<br />prohibited, then the entire indebtedness secured by this Deed of Trust shall, at the option of the Beneficiary,
<br />become due and payable; (I) that if the Property or any part or parcel thereof shall be taken or damaged
<br />under the power of eminent domain, the award for any Property so taken or damaged (including severance
<br />damages to the remaining premises) shall be paid to the Beneficiary and applied in full or in part at the
<br />option of the Beneficiary in reduction of the indebtedness hereby secured; (j) that the Beneficiary shall have
<br />the right to inspect the Property at such reasonable times as the Beneficiary may desire to determine Trustor's
<br />compliance with the covenants contained in this Deed of Trust; (k) that the Beneficiary may release from
<br />the lien hereof any part or parcel of the Property without requiring any consideration therefor, and (1) that
<br />Trustor is lawfully seized of said premises and Property in fee simple, that the same are free from all liens
<br />and encumbrances except as may otherwise be specifically noted herein or waived in writing by the
<br />Beneficiary; that Trustor will execute or procure any further necessary assurances of title and does hereby
<br />warrant generally the title to said Property and will forever defend the same against the claims and demands
<br />of all persons whomsoever, and that Trustor's separate estate, whether vested, contingent or in expectancy,
<br />is hereby conveyed and Trustor does hereby expressly waive, release all rights and benefits of any
<br />homestead, dower, curtesy, appraisement, exemption and stay laws of this state. It is agreed that the interest
<br />provided for in subsection (g) above shall be at the same rate as specified in the Note secured hereby on the
<br />principal thereof after default and maturity.
<br />SECOND: In the event Trustor, without the prior written consent of Beneficiary, shall sell, transfer
<br />or convey or contract to sell, transfer or convey the Property, or any part thereof or any interest therein, the
<br />entire balance of the indebtedness hereby secured shall become and be immediately due and payable at the
<br />option of Beneficiary; provided, however, Beneficiary may waive such option to accelerate if, prior to such
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