202502509 - Laserfiche WebLink

Browse

2O25025O9 together with all improvements, fixtures and appurtenances located thereon or in any way pertaining thereto, and the rents, issues, profits, reversions and the remainders thereof, including all such personal property that is attached to the improvements so as to constitute a fixture, all of which, including replacements and additions thereto, are hereby declared to be a part of the real estate conveyed in trust hereby, it being agreed that all of the foregoing shall be hereinafter referred to as the "Property". FOR THE PURPOSE OF SECURING: (a) the payment of indebtedness evidenced by Trustor's note of even date herewith in the principal sum of Two Hundred Forty -Three Thousand and No/100 Dollars ($243,000.00), together with interest at the rate provided therein, or the principal and interest on any future advance not to exceed the total principal sum initially secured hereby as evidenced by promissory notes, or deed of trust notes stating they are secured hereby, and any and all renewals, modifications and extensions of such notes, both principal and interest on the notes being payable in accordance with the terms set forth therein, which by this reference is hereby made a part hereof; (b) the performance of each agreement and covenant of Trustor herein contained; and (c) the payment of any sum or sums of money which may be hereafter paid or advanced by Beneficiary under the terms of this Deed of Trust, together with interest thereon at the rate provided in the note. To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as follows: 1. Payment of Indebtedness. To pay when due, the principal of, and the interest on, the indebtedness evidenced by the note, charges, fees and all other sums as provided in the loan instruments. The maturity date of the note is August 7, 2025. 2. Title. Trustor is the owner of the Property and has the right and authority to convey the Property and warrants that the lien created hereby is a first and prior lien on the Property and the execution and delivery of the Deed of Trust does not violate any contract or other obligation to which Trustor is subject. 3. Taxes and Assessments. To pay, when due, all taxes, special assessments and all other charges against the Property, before the same become delinquent, and, in the event Beneficiary shall so require, to add to the payments required under the note secured hereby, such amount as may be sufficient to enable Beneficiary to pay such taxes, assessments or other charges as they become due. 4. Repair, Maintenance and Use. To not commit waste on or damage to the Property and to use due care to prevent others from so doing; to keep the Property in good condition and repair; to keep the Property free from mechanics or other liens not expressly subordinated to the lien hereof; to not make, suffer or permit any nuisance to exist nor to diminish or impair the value of the Property by any act or omission to act; and to comply with all requirements of law with respect to the Property. 5. Insurance. At all times during the term hereof to keep the Property insured against damage by fire, hazards included within the term "extended coverage", and such other hazards as Beneficiary may require, in an amount of not less than the replacement value thereof and with companies acceptable to Beneficiary, including a standard mortgagee clause with loss payable to the Beneficiary and containing an additional provision that the policy cannot be canceled without prior written notice to the Beneficiary. In case of loss under such policies, the Beneficiary is authorized to adjust, collect and compromise all claims thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any Page 2 of 7