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202300161
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1/11/2023 4:03:46 PM
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1/11/2023 4:03:46 PM
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DEEDS
Inst Number
202300161
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202300161 <br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate under the terms and <br />conditions set forth in the Note. This Deed of Trust, the Note, and any other instruments <br />given to evidence or further secure the payment and performance of any obligation secured <br />hereby are referred to collectively as the "Loan Instruments". <br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST: <br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal of, and the interest <br />on, the indebtedness evidenced by the note, charges, fees and all other sums as provided in the Loan <br />Instruments. <br />2. TAXES. Trustor shall pay each installment of all taxes and special assessments of every kind, <br />now or hereafter levied against the Trust Estate or any part thereof, before delinquency, without notice or <br />demand, and shall provide Beneficiaries with evidence of the payment of same. <br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended coverage insurance <br />insuring the improvements and buildings constituting part of the Trust Estate for their full insurable value <br />(co-insurance not exceeding 80% permitted). Such insurance policy shall contain a standard mortgage <br />clause in favor of Beneficiaries and shall not be cancelable, terminable or modifiable without ten (10) days <br />prior written notice to Beneficiaries. Trustor shall promptly repair, maintain and replace the Trust Estate <br />or any part thereof so that, except for ordinary wear and tear, the Trust Estate shall not deteriorate. In no <br />event shall the Trustor commit waste on or to the Trust Estate. <br />4. LEASE OF PREMISES. During the term of this Deed of Trust, Trustor shall not lease, rent, or <br />otherwise offer for let the Trust Estate or any portion thereof without first obtaining the express written <br />permission of the Beneficiaries, which permission shall not be unreasonably withheld. <br />5. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest any action or <br />proceeding purporting to affect the security hereof or the rights or powers of Beneficiaries or Trustee, and <br />shall pay all costs and expenses, including cost of evidence of title and attorney fees, in any such action or <br />proceeding in which Beneficiaries or Trustee may appear. Should Trustor fail to make any payment or to <br />do any act as and in the manner provided in any of the Loan Instruments, Beneficiaries and/or Trustee, each <br />in its own discretion, without obligation so to do and without notice to or demand upon Trustor and without <br />releasing Trustor from any obligation, may make or do the same in such manner and to such extent as either <br />may deem necessary to protect the security hereof. Trustor shall, immediately upon demand therefor by <br />Beneficiaries, pay all costs and expenses incurred by Beneficiaries in connection with the exercise by <br />Beneficiaries of the foregoing rights, including without limitation costs of evidence of title, court costs, <br />appraisals, surveys and attorney fees. Any such costs and expenses not paid within ten (10) days of written <br />demand shall draw interest at the default rate provided in the Note. <br />6. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest therein, be taken <br />or damaged by reason of any public improvement or condemnation proceeding, or in any other manner <br />including deed in lieu of Condemnation ("Condemnation"), or should Trustor receive any notice or other <br />information regarding such proceeding, Trustor shall give prompt written notice thereof to Beneficiaries. <br />Beneficiaries shall be entitled to all compensation, awards and other payments or relief therefor, and shall <br />be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings. <br />Beneficiaries shall also be entitled to make any compromise or settlement in connection with such taking <br />or damage. All such compensation, awards, damages, rights of action and proceeds to Trustor (the <br />"Proceeds") are hereby assigned to Beneficiaries and Trustor agrees to execute such further assignments of <br />the proceeds as Beneficiaries or Trustee may require. <br />
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