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99104545
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Last modified
3/13/2012 5:29:35 PM
Creation date
10/20/2005 11:13:07 PM
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DEEDS
Inst Number
99104545
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� � 99, 1C�4545 <br /> and payable; (c) to keep the above-described Property and the improvements <br /> thereon in good condition and repair and not to commit or suffer waste <br /> thereof, and except as authorized in any schedule annexed hereto and forming <br /> a part hereof; (d) to maintain and deliver to Beneficiary policies of <br /> insurance against such hazards on the buildings and improvements now or <br /> hereafter located on or constituting a part of the Property as the Beneficia- <br /> ry shall require, in such companies and amounts. and with such loss payable <br /> clauses as shall be satisfactory to the Beneficiary; that in the event of <br /> loss, Beneficiary is expressly authorized to settle or compromise claims <br /> under said policies and the proceeds thereof shall be paid to the Beneficiary <br /> who may apply the same or any part thereof on the indebtedness secured hereby <br /> or toward the reconstruction or repair of said buildings and improvements or <br /> release same to the Trustor; (e) to pay any lien, claim or charge against the <br /> Property which might take precedence over the lien hereof; (f) to pay on <br /> demand all legal expenses, title searches, appraisal or attorneys' fees <br /> reasonably incurred or paid by Beneficiary to collect the Note or foreclose <br /> or protect the lien of this Deed of Trust; (g) that in the event Trustor <br /> shall fail to comply with the provisions of (a) through (f) above, the <br /> Beneficiary may expend such funds and take such action as is necessary to <br /> remedy such failure and all sums paid by the Beneficiary pursuant hereto with <br /> 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 <br /> due and repayable to the Beneficiary; (h) not to sell the Property or any <br /> portion thereof without the approval of the Beneficiary in writing; and in <br /> the event of any sale herein prohibited, then the entire indebtedness secured <br /> by this Deed of Trust shall, at the option of the Beneficiary, become due and <br /> payable; (i) that if the Property or any part or parcel thereof shall be <br /> taken or damaged under the power of eminent domain, the award for any <br /> Property so taken or damaged (including severance damages to the remaining <br /> premises) shall be paid to the Beneficiary and applied in full or in part at <br /> the option of the Beneficiary in reduction of the indebtedness hereby <br /> secured; (j ) that the Beneficiary shall have the right to inspect the <br /> Property at such reasonable times as the Beneficiary may desire to determine <br /> Trustor' s compliance with the covenants contained in this Deed of Trust; (k) <br /> that the Beneficiary may release from the lien hereof any part or parcel of <br /> the Property without requiring any consideration therefor, and (1) that <br /> Trustor is lawfully seized of said premises and Property in fee simple, that <br /> the same are free from all liens and encumbrances except as may otherwise be <br /> specifically noted herein or waived in writing by the Beneficiary; that <br /> Trustor will execute or procure any further necessary assurances of title and <br /> does hereby warrant generally the title to said Property and will forever <br /> defend the same against the claims and. demands of all persons whomsoever, and li <br /> that Trustor' s separate estate, whether vested, contingent or in expectancy, <br /> is hereby conveyed and Trustor does hereby expressly waive, release all <br /> rights and benefits of any homestead, dower, curtesy, appraisement, exemption <br /> and stay laws of this state . It is agreed that the interest provided for in <br /> subsection (g) above shall be at the same rate as specified in the Note <br /> secured hereby on the principal thereof after default and maturity. <br /> SECOND. In the event Trustor, without the prior written consent of <br /> Beneficiary, shall sell, transfer or convey or contract to sell, transfer or <br /> convey the Property, or any part thereof or any interest therein, the entire <br /> balance of the indebtedness hereby secured shall become and be immediately <br /> due and payable at the option of Beneficiary; provided, however, Beneficiary <br /> may waive such option to accelerate if, prior to such sale, transfer or <br /> conveyance or contract therefor, Beneficiary and the person to whom the <br /> property is to be sold or transferred reach an agreement in writing that the <br /> credit of such person is satisfactory to Beneficiary and that the interest <br /> payable on the sums secured by this Deed of Trust shall be at such rate as <br /> Beneficiary shall request . <br /> THIRD. That as further security for the payment of the Note and the <br /> indebtedness thereby evidenced and the performance of all of the terms, <br /> covenants and conditions hereof, Trustor agrees that Beneficiary shall and <br /> does hereby have the right, power and authority during the continuance of <br /> this Deed of Trust to collect the rents, issues and profits of the Property <br /> and of any personal property located thereon with or without taking <br /> possession of the property affected thereby; and Trustor hereby absolutely <br /> and unconditionally assigns all such rents, issues and profits to Beneficia- <br /> ry. Beneficiary, however, hereby consents to Trustor' s collection and <br /> retention of such rents, issues and profits as they accrue and become payable <br /> so long as Trustor is not at such time in default with respect to payment of i <br /> I <br />
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