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<br /> situated thereon and all personal property that may be or hereafter become an
<br /> integral part of such buildings and improvements.
<br /> The property and the entire estate and interest conveyed to the Truatee are
<br /> referred to collectively as the "Trust Estate".
<br /> FOR THE PURPOSE OF SECURING:
<br /> a. Payment of indebtedness in the total principal amount of $200,000.00,
<br /> with interest thereon, as evidenced by that certain Promissory Note of even date
<br /> (the "Note") with a maturity date of April 1, 2014, executed by Trustors, which
<br /> has been delivered and is payable to the order of Beneficiary, and which by this
<br /> reference is hereby made a part hereof, and any and all modifications, extensions
<br /> and renewals thereof, and,
<br /> b. Payment of all sums advanced by Beneficiary to protect the Trust
<br /> Estate, with interest thereon at the rate of sixteen (16�y percent per annum.
<br /> This Deed of Trust, the Note, and any other instrument given to evidence
<br /> or further secure the payment and performance of any obligation secured hereby
<br /> are referred to collectively as the "Loan Instruments".
<br /> TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br /> 1. PAYMENT OF INDEBTEDNESS. Trustors shall pay when due the principal of,
<br /> and the interest on, the indebtedness evidenced by the Note, charges, fees and
<br /> all other sums as provided in the Loan Instruments.
<br /> 2. REAL ESTATE TAXES. Trustors shall pay the annual real estate taxes to
<br /> the Hall County Treasurer before the taxes become delinquent and shall furnish
<br /> tax receipts to Beneficiary on or before May 1 and September 1 each year. In the
<br /> event that special assessments are levied against the property, the Trustors
<br /> shall make the annual payments before the same become delinquent and provide
<br /> Beneficiary with a receipt for payment.
<br /> 3. INSURANCE AND REPAIRS. Upon cloeing, Trustore ehall provide
<br /> Beneficiary with a Certificate of Insurance showing the building on the premises
<br /> to be insured for fire and extended coverage in an amount of at least
<br /> $200,000.00. Trustors shall pay the premiums for maintaining such policy and
<br /> shall provide Beneficiary with evidence of insurance premium payments each year.
<br /> Such insurance policy shall contain a atandard mortgage clause in favor of
<br /> Beneficiary and shall not be cancelable, terminable, or modifiable without thirty
<br /> (30) days prior written notice to Beneficiary. Trustors shall promptly repair,
<br /> maintain and replace the Trust Estate or any part thereof so that, except for
<br /> ordinary wear and tear, the Trust Estate shall not deteriorate. In no event
<br /> shall the Trustors commit waste on or to the Trust Estate.
<br /> In addition to casualty insurance, Trustors shall provide and pay the
<br /> premiums on comprehensive general liability insurance covering the premises and
<br /> protecting the Beneficiary and Trustors from all claims, demands, lawsuita, and
<br /> judgments arising out of injury to persons or damage to property occurring on
<br /> each property. The coverage shall be in an amount of at least $500,000.00 single
<br /> limit, $500,000 aggregate for bodily injury and property damage. The liability
<br /> insurance and casualty insurance may be procured in a single policy or may be
<br /> obtained in separate policies. In any event, such policy or policies shall name
<br /> Beneficiary as an additional insured, and Beneficiary shall be provided with a
<br /> Certificate of Insurance or duplicate copy containing a thirty (30) day
<br /> cancellation notice to Beneficiary, showing the insurance to be in full force and
<br /> effect at all times during the term of this Deed of Trust.
<br /> 4. ACTIONS AFFECTING TRUST ESTATE. Trustors shall appear in and contest
<br /> any action or proceeding purporting to affect the security hereof or the rights
<br /> or powers of Beneficiary or Trustee, and ahall pay all costs and expenses,
<br /> including cost of evidence of title and attorney's fees, in any such action or
<br /> proceeding in which Beneficiary or Trustee may appear. Should Trustors fail to
<br /> make any payment or to do any act as and in the manner provided in any of the
<br /> Loan Instruments, Beneficiary and/or Trustee, each in its own discretion, without
<br /> 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. Trustors shall, immediately
<br /> upon demand therefor by Beneficiary, pay all costs and expenses incurred by
<br /> Beneficiary in connection with the exercise by Beneficiary of the foregoing
<br /> rights, including, without limitation, costs of evidence of title, court costs,
<br /> appraisals, surveys and attorney's fees. Any such costs and expenses not paid
<br /> within ten (10) days of written demand shall draw interest at the default rate
<br /> provided in the Note.
<br /> 5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or
<br /> interest therein, be taken or damaged by reason of any public improvement or
<br /> condemnation proceeding, or in any other manner including deed in lieu of
<br /> Condemnation ("Condemnation") , or should Trustors receive any notice or other
<br /> information regarding such proceeding, Trustors shall give prompt written notice
<br /> thereof to Beneficiary. Beneficiary shall be entitl.ed to all compensation and
<br /> condemnation awards and other payments or relief therefor, and shall be entitled
<br /> to make any compromise or settlement in connection with such taking or damage.
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