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202300037
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Last modified
1/4/2023 1:58:20 PM
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1/4/2023 1:58:20 PM
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DEEDS
Inst Number
202300037
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202300037 <br />January 3, 2027. This Debt shall include any and all modifications, extensions, and renewals <br />thereof or thereto, and any and all future advances and re -advances to Borrower (or any of them <br />if more than one) hereunder pursuant to one or more promissory notes or credit agreements. <br />This Deed of Trust secures to Lender: (i) the Debt evidenced by said Note; (ii) the <br />payment of all other sums, with interest, advanced under the provisions hereafter to protect the <br />security; and (iii) the performance of Borrower's covenants and agreements. <br />Borrower covenants that Borrower is lawfully seised of such real estate and has the legal <br />power and lawful authority to convey the same, and warrants and will defend title to the real <br />estate against the lawful claims of all persons. <br />BORROWER AND LENDER AGREE AS FOLLOWS: <br />1. Borrower shall pay when due the principal and interest as provided in said Note. <br />2. All payments received by Lender shall be first applied to advances that may have <br />been made by Lender, and then to principal due. <br />3. Borrower shall pay all general real estate taxes and special assessments against <br />the Property before the same become delinquent. <br />4. Borrower shall keep the improvements on said Property insured for their insurable <br />value against loss by fire and hazards included with the term "extended coverage", and policies <br />for the same shall include a standard mortgage clause showing Lender herein. In event of loss, <br />Lender may make proof of loss if not promptly made by Borrower. Insurance proceeds shall be <br />applied to restoration or repair of the Property damaged, unless both parties otherwise agree, <br />except if restoration or repair is not economically feasible, or if Lender's security is not lessened; <br />otherwise, said proceeds shall be paid on the Debt herein, whether or not then due. <br />Unless Lender and Borrower otherwise agree in writing, any payments or proceeds from <br />insurance shall not extend or postpone the due date of the payments provided in said Note, or <br />change the amount of the payments. <br />5. Upon written demand by Lender, Borrower shall pay to Lender, in such manner <br />as Lender may designate, sufficient sums to enable Lender to pay as they become due one or <br />more of the following: (i) all taxes, assessments, and other charges against the Property; (ii) the <br />premiums on the property insurance required hereunder, and (iii) the premiums on any mortgage <br />insurance required by Lender. <br />6. Borrower shall keep the described Property in good condition and repair; shall <br />promptly repair or replace any improvement which may be damaged or destroyed; shall be <br />permitted to repair or replace any improvement(s) situated on the Property and shall be permitted <br />to construct additional improvement(s) on the Property in Borrower's discretion; shall not <br />commit or permit any waste or deterioration of the real estate hereinabove described;; shall not <br />commit, suffer, or permit any act to be done in or upon the Property in violation of any law, <br />ordinance, or regulation; and shall promptly discharge at Borrower's cost and expense all liens, <br />encumbrances, and charges levied, imposed, or assessed against the described real estate or any <br />part thereof. <br />7. Borrower shall keep the Property in compliance with all applicable laws, <br />ordinances, and regulations relating to industrial hygiene or environmental protection <br />(collectively referred to herein as "Environmental Laws"). Borrower shall keep the Property free <br />from all substances deemed to be hazardous or toxic under any Environmental Laws <br />(collectively referred to herein as "Hazardous Materials"). Borrower hereby warrants and <br />represents to Lender that there are no Hazardous Materials on or under the Property. THE <br />BORROWER'S FOREGOING WARRANTIES AND REPRESENTATION, SHALL <br />SURVIVE RECONVEYANCE OF THIS DEED OF TRUST. <br />8. Borrower shall not sell, transfer, assign, convey, or further encumber all or any <br />part of or any interest in the Property hereinabove described, either voluntarily or involuntarily, <br />without the express prior written consent of Lender, or as otherwise herein permitted; and in the <br />event of any such sale, transfer, assignment, conveyance, or transfer in violation of this <br />Page 2 of 4 <br />
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