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' RE-RECOt�DEDy9� 1Q�� �. ��
<br /> 3. Performance, discharge of and compliance with every obligation, covenant, and agreement of Maker or
<br /> Trustor incorporated by reference or contained lierein or in any other security agreement or deed of trust at any time
<br /> given to secure any indebtedness hereby secured,or any part thereof.
<br /> 4. Payment of all fees and charges of Beneficiary,whether or not set forth herein.
<br /> TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR CONVENANTS:
<br /> Title: That it is lawfully seized and possessed of a good and indefeasible title and estate to such property in fee
<br /> simple and will forever warrant and defend the title thereto against the claims and demands of all persons
<br /> whosoever; that it will, at its expense, maintain and preserve the lien of this Deed of Trust as a lien upon such
<br /> property.
<br /> Prior Liens: To pay any interest on and maturing installments of prirtcipaf due on any pFior mortgage or deed
<br /> of trust, and to perform all things required of him under the terms and conditions of any prior mortgage or deed of
<br /> trust. Beneficiary may, but shall not be obligated to, make any payment or perform any other act or obligation
<br /> required of Trustee or Trustor by any such prior mortgage or deed of trust. Any amount so paid or expended by
<br /> Beneficiary shall be immediately repayable to Beneficiary together with interest as herein provided.
<br /> Maintenance: To keep such property in good condition and repair; to complete or restore promptly and in
<br /> good and workmanlike manner any building which may be consiructed, damaged or destroyed thereon and to pay,
<br /> when due, all claims for labor performed and materials furnished therefor and for any alterations thereof; to comply
<br /> with the provisions of all insurance policies covering said premises; to comply with all laws, ordinances, regulations,
<br /> covenants, conditions and restriciions affecting such property; not to remove, demolish or materially alter any
<br /> building, or the character or use thereof at any time thereon; not to drill or extract nor to permit the drilling for or
<br /> extraction of oil, gas or other hydrocarbon substances or any material of any kind unless the written consent of
<br /> Beneficiary is first had and obtained; not to commit or permit any waste thereof or any act upon such property in
<br /> violation of law; to do all other acts in a timely and proper manner which from the character or use of such property
<br /> may be reasonably necessary to protect and preserve said security,the specific enumerations herein not excluding the
<br /> general.
<br /> Construction of Improvements: To complete in good and workmanlike manner any building or improvement
<br /> or repair relating thereto which may be begun on such property or contemplated by the loan secured hereby, to pay
<br /> when due all costs and liabilities incurred therefor, and not to permit any mechanic's lien against such property.
<br /> Trustor also agrees, anything in this Deed of Trust to the contrary notwithstanding, (a) to promptly commence work
<br /> and to complete the proposed improvements promptly, (b) to complete same in accordance with plans and
<br /> specifications as approved by Beneficiary,(c) to comply witl�all of the terms of any building loan agreement between
<br /> Trustor and Beneficiary, (d) to allow Beneficiary to inspect such property at all times during construction, and (e) to
<br /> replace any work or materials unsatisfactory to Beneficiary, within fifteen (15) days after written notice from
<br /> Beneficiary of such fact, which notice may be given to Trustor by registered or certified mail, sent to Trustor's last
<br /> known address,or by personal service of the same.
<br /> Fire and Casualty Insurance: To keep such property insured against loss or damage by fire and other risk or
<br /> risks which, in the opinion of Beneficiary should be insured against, under policies of insurance with loss payable to
<br /> Beneficiary and the holder of any prior lien in form, amount, and companies acceptable to Beneficiary. Said policies
<br /> shall be delivered to and remain in possession of Beneficiary as further security for the faithful performance of these
<br /> obligations, which delivery shall constitute as assignment by Trustor to Beneficiary to all rights thereunder, including
<br /> all return premiums; to deliver to Beneficiary a policy or policies renewing or extending any expiring insurance with a
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<br /> policies, Beneficiary may procure such insurance as it may elect and may make payment of premiumi thereon, which
<br /> payment is repayable on demand. Neither Trustee nor Beneficiary shall be responsible for obtaining or maintaining
<br /> such insurance. Beneficiary, from time to time, may furnish to any insurance agency or company, or any other
<br /> person, any information contained in or extracted from any insurance policy theretofore delivered to Beneficiary
<br /> pursuant hereto, and any information concerning ihe loan secured hereby. In no event and whether or not default
<br /> hereunder has occurred shall Beneficiary, by ihe fact of approving, accepting or obtaining such insurance, incur any
<br /> liability for the amount of such insurance, the form or legal sufficiency of insurance contracts, solvency of insurers, or
<br /> payment of losses by insurers, and Trustor hereby expressly assumes full responsibility therefor and liability, if any,
<br /> thereunder. In the event of loss, Trustor shall give immediate written notice t� Beneficiary, and Beneficiary may, but
<br /> is not obligated to, make proof of loss if not made promptly by Trustor. In case of any loss the amount collected
<br /> under any policy of insurance on such property may, at the option of the Beneficiary, be applied by Beneficiary upon
<br /> any indebiedness and/or obligation secured hereby and in such order and amount as Beneficiary may determine; or
<br /> said amount or any portion thereof may, at the opiion of the Beneficiary, either be used in replacing or restoring the
<br /> improvements partially or totally destroyed to a condition satisfactory to said Beneficiary, or said amount or any
<br /> portion thereof may be released to the Trustor. In any such event neither the Trustee nor the Beneficiary shall be
<br /> obligated to see to the praper application thereof; nor shall the amouni so released or used be deemed a payment
<br /> on any indebtedness secured hereby. Such application, use, and/or release shall not cure or waive any default or
<br /> notice of default hereunder or invalidate any act done pursuant to such notice. Any unexpired insurance and all
<br /> returnable insurance premiums shall inure to the benefit of, and pass to, the purchaser of the property covered
<br /> thereby at any Trustee's sale held hereunder. If said property is sold pursuant to the power of sale contained herein
<br /> or pursuant to any decree of foreclosure, all right, title and interest of Trustor in and to the proceeds of fire and other
<br /> insurance policies for damage prior to the sale, which proceeds are not received prior to the dafe of said sale, shall
<br /> belong to Beneficiary.
<br /> Taxes and Other Sums Due: To pay,satisfy and discharge, at least ten(10)days before delinquency, all general
<br /> and special taxes and assessments affecting such property, and in no event later than th date suCh..amounts become
<br /> due, (1) all encumbrances, charges and liens, with interest, on such property, or any��i^�''tla�r�Qf.; which are, or
<br /> appear to Beneficiary to be prior to or superior hereto, (2) all costs, fees and expenses of this trust, whether or not
<br /> described herein, (3) fees or charges for any statement regarding the obligation secured hereby in a�iy amount
<br /> demanded by Beneficiary, not to exceed the maximum amount allowed by law therefor at the time when such
<br /> request is made, (4) such other charges as the Beneficiary may deem reasonable for services rendered•by Benefici�r�y,
<br /> and furnished at the request of Trustor or any successor in interest to Trustor, (5) if such pro�ty indude.s a leaseho'Td
<br /> estate, all payments and obligations required of the Trustor or his successor in in�erest under the terms of t�"i'�
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<br /> instrument or instruments creating such leasehold, Trustor hereby agreeing not;to amen�;,change, o`r modify !4'rs''
<br /> leasehold interest or the terms on which he has such leasehold interest, or to agree to do--sp, without�the writte�:
<br /> consent of Beneficiary being first obtained, and (6) all payments and monetary oi�Cigationsxex�uired of the owner,of
<br /> such property under any declaration or covenants, conditions and restrictions pertaining to such property or any,
<br /> modification thereof. Should Trustor fail to make any such payment, Beneficiary,;without c4ntesting the validity or
<br /> amount, may elect to make or advance such payment togeiher with any costs, expenses, ��es or charges relating
<br /> thereto, including employing counsel and paying his reasonable fees. Trustor agrees;to notify Beneficiary
<br /> immediately upon receipt by Trustor of notice of any increase in the assessed value of such property and agrees that
<br /> Beneficiary, in the name of Trustor may contest by appropriate proceedings such increase in ags�ssment.
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