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99108068
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99108068
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Last modified
3/13/2012 6:56:09 PM
Creation date
10/21/2005 12:21:42 AM
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DEEDS
Inst Number
99108068
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�9 �� 8068 <br /> 3 <br /> free from mechanic' s or other liens not expressly subordinated to <br /> the lien hereof; not to make, suffer or permit any nuisance to <br /> exist, nor to diminish or impair the value of the Property by any <br /> act or omission to act; and to comply with all requirements of law <br /> with respect to the Property. <br /> 6 . Condemnation. That in the event the Property, or any <br /> part thereof, shall be taken by eminent domain, the Borrower is <br /> empowered to collect and receive all compensation which may be paid <br /> for any property taken or for damages to property not taken, and <br /> shall apply such compensation, at Borrower' s option, either to a <br /> reduction of the indebtedness secured hereby or to repair and <br /> restore the property so damaged; provided, however, that Borrower <br /> shall not be required to apply such funds against the indebtedness <br /> if the amount then owing is less than the remaining fair market <br /> value of the security. <br /> 7 . Performance by Lenders . That Lenders may, but shall have <br /> no obligation, to do any act which the Borrower has agreed but fail <br /> to do, and Lenders may also do any act they deem necessary to <br /> protect the lien hereof . Borrower agrees to repay, upon demand, <br /> any sums so expended by the Lenders for the above purposes, and any <br /> sums so expended by the Lenders shall be added to the indebtedness <br /> secured hereby and become subject to the lien hereof . Lenders <br /> shall not incur any personal liability because of anything they may <br /> do or omit to do hereunder. <br /> 8 . Notice. Any notice to Borrower provided for in this Deed <br /> of Trust or by applicable law shall be given by mailing by <br /> certified mail, return-receipt requested, addressed to Borrower at <br /> the address as set out on the first page hereof, or at such other <br /> address as the Borrower shall designate by notice to Lenders in <br /> writing; any notice to Lenders or Trustee shall be given by <br /> certified mail, return-receipt requested, to Lenders ' or Trustee ' s <br /> address, respectively, as set out in the first page hereof or to <br /> such other address as the Lenders or Trustee may designate by <br /> notice to Borrower . Notice shall be deemed to be given when <br /> mailed. Al1 parties hereby request that any notice of default and <br /> any notice of sale be mailed to them at the addresses set out <br /> herein. <br /> 9 . Assignment of Rents . As additional security hereunder, <br /> Borrower hereby grants Lenders a security interest in and assigns <br /> Lenders the rents of the property, provided that Borrower shall <br /> have the right to collect and retain such rents prior to default <br /> hereunder. Upon default and acceleration, Lenders shall be <br /> entitled to enter upon, take possession of, and manage the property <br /> and collect rents and apply the same to the indebtedness . Such <br /> collection may be in person, by agent or duly appointed receiver. <br /> 10 . Transfer of Property. If all or any part of the Property <br /> or any interest therein is sold or transferred without the express <br />
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