200401753 - Laserfiche WebLink

Browse

s 200401753 b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at the rate of twelve percent (12 %) per annum. This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and performance of any obligation secured hereby are referred to collectively as the "Loan Instruments." TO PROTECT THE SECUIRTY OF THIS DEED OF TRUST: 1. Payment of Indebtedness. Trustor shall 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. 2. Taxes. Trustor shall pay each installment of all taxes and special assessments of every kind, now or hereafter levied against the Trust Estate or any part thereof, before delinquency, without notice or demand, and shall provide Beneficiary with evidence of the payment of same. Trustor shall pay all taxes and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of Trust or the debt secured thereby, without regard to any law that may be enacted imposing payment of the whole or any part thereof upon the Beneficiary. 3. Insurance and Repairs. Trustor shall maintain fire and extended coverage insurance insuring the improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of the unpaid principal balance of the Note (co- insurance not exceeding 80% permitted). Such insurance policy shall contain a standard mortgage clause in favor of Beneficiary and shall not be cancellable, terminable, or modifiable without ten (10) days' prior written notice to Beneficiary. Trustor shall promptly repair, maintain, and replace the Trust Estate or any part thereof so that, except for ordinary wear and tear, the Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the Trust Estate. 4. Actions Affecting Trust Estate. Trustor shall appear in and contest any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all costs and expenses, including cost of evidence of title and attorneys' fees, in any such action or proceeding in which Beneficiary or Trustee may appear. Should Trustor fail to make any payment or to do any act as and in the manner provided in any of the Loan Instruments, Beneficiary and /or Trustee, each in its own discretion, without obligation to do so and without notice to or 2