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99108284
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99108284
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Last modified
3/13/2012 7:01:47 PM
Creation date
10/21/2005 12:26:31 AM
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DEEDS
Inst Number
99108284
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� • RE-RECORDED <br /> . gg_ sas;�sa: 99_ i(�5193 <br /> Property or any portion thereof; or, if the Trustor is a corporation, not more than 0%% of its <br /> corporate stock shall be sold, traded, or disposed of to persons other than the present owners <br /> of such stock prior to the time the indebtedness secured hereby shall have been reduced <br /> (exclusive of prepayments other than as provided in the said Note) to $-0-, and in the event of <br /> any sale herein prohibited, then the entire indebtedness secured by the Deed of Trust shall, at <br /> the option of the Beneficiary become due and payable; (i) that if the Property or any part or <br /> parcel thereof shall be taken or damaged under the power of eminent domain, the award for <br /> any Property so taken or damaged (including severance damages to the remaining premises) <br /> shall be paid to the Beneficiary and applied in full or in part at the option of the Beneficiary in <br /> reduction of the indebtedness hereby secured; (j) that the Beneficiary shall have the right to <br /> inspect the Property at such reasonable times as the Beneficiary may desire to determin� <br /> Trustor's compliance with the covenants contained in this Deed of Trust; (k) that the Beneficiary <br /> may release from the lien hereof any part or parcel of the Property without requiring any <br /> consideration therefor, and (I) that Trustor is lawfully seized of said premises and Property in <br /> fee simple, that 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 Trustor will execute or <br /> procure any further necessary assurances of title and does hereby warrant generally the title to <br /> said Property and will forever defend the same against the claims and demands of all persons <br /> whomsoever, and that Trustor's separate estate, whether vested, contingent or in expectancy, <br /> is hereby conveyed and Trustor does hereby expressly waive, release all rights and benefits of <br /> any homestead, dower, courtesy, appraisement, exemption and stay laws of this state. It is <br /> agreed that the interest provided for in subsection (g) above shall be at the same rate as <br /> specified in the Note secured hereby on the principal thereof after default and maturity. <br /> 2. In the event Trustor, without the prior written consent of Beneficiary shall <br /> sell, transfer or convey or contract to sell, transfer or convey the Property, or any part thereof or <br /> any interest therein, the entire balance of the indebtedness hereby secured shall become and <br /> be immediately 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 conveyance or contract <br /> therefor, Beneficiary and the person to whom the Property is to be sold or transferred reach an <br /> agreement in writing that the credit of such person is satisfactory to Beneficiary and that the <br /> interest payable on the sums secured by this Deed of Trust shall be at such rate as Beneficiary <br /> shall request. <br /> 3. That as further security for the payment of the Note and the indebtedness <br /> thereby evidenced and the performance of all of the terms, covenants and conditions hereof, <br /> Trustor agrees that Beneficiary shall and does hereby have the right, power and authority <br /> during the continuance of this Deed of Trust to collect the rents, issues and profits of the <br /> Property and of any personal property located thereon with or without taking possession of the <br /> property affected thereby; and Trustor hereby absolutely and unconditionally assigns all such <br /> rents, issues and profits to Beneficiary. Beneficiary, however, hereby consents to Trustor's <br /> collection and retention of such rents, issues and profits as they accrue and become payable so <br /> long as Trustor is not at such time in default with respect to payment of any indebtedness <br /> secured hereby or in the performance of any agreement hereunder. Upon any such default, <br /> Beneficiary may at any time, either in person, by agent, or by receiver to be appointed by a <br /> court, without notice and without regard to the adequacy of any security for the indebtedness <br /> Initials: ��, � <br /> 6 ��'. � . <br />
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