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<br /> � 99 111505
<br /> TOGETHER WITH, all rents, easements, appurtenances, hereditaments,
<br /> interests in adjoining roads, streets and alleys, improvements,
<br /> buildings and any and all irrigation equipment (including but not
<br /> limited to pumps, motors, pipes and pivots) of any kind situated
<br /> thereon and all personal property that may be or hereafter become an
<br /> integral part of such buildings and improvements, all crops raised
<br /> thereon, and all water rights.
<br /> The Property and the entire estate and interest conveyed to the
<br /> Trustee are referred to collectively as the "Trust Estate" .
<br /> FOR THE PURPOSE OF SECURING:
<br /> a. Payment of indebtedness in the total principal amount of
<br /> $305, 000. 00, with interest thereon, as evidenced by that certain
<br /> promissory note of even date (the "Note") with a maturity date of
<br /> December 1, 2011, executed by Trustor, which has been delivered and is
<br /> payable to the order of Beneficiary, and which by this reference is
<br /> hereby made a part hereof, and any and all modifications, extensions
<br /> and renewals thereof, and
<br /> b. Payment of all sums advanced by Beneficiary to protect the
<br /> Trust Estate, with interest thereon at the rate of sixteen percent
<br /> (16. 00�) per annum until all amounts are paid in full.
<br /> This Deed of Trust, the Note, and any other instrument given to
<br /> evidence or further secure the payment and performance of any
<br /> obligation secured hereby are referred to collectively as the "Loan
<br /> Instruments" .
<br /> TO PROTECT THE SECURITY OF THIS DEED OF TRUST
<br /> 1. PAYMENT OF INDEBTEDNESS. The Trustor shall pay when due the
<br /> principal of, and the interest on, the indebtedness evidenced by the
<br /> Note, charges, fees and all other sums as provided in the Loan
<br /> Instruments.
<br /> 2 . TAXES. Trustor shall pay each installment of all taxes and �
<br /> special assessments of every kind, now or hereafter levied against the
<br /> Trust Estate or any part thereof, before delinquency, without notice
<br /> or demand, and shall provide Beneficiary with evidence of the payment
<br /> of same. Trustor shall pay all taxes and assessments which may be
<br /> levied upon Beneficiary's interest herein or upon this Deed of Trust
<br /> or the debt secured hereby, without regard to any law that may be
<br /> enacted imposing payment of the whole or any part thereof upon the
<br /> Beneficiary. The failure to pay such taxes shall be considered a term
<br /> of default hereunder. If said Trustor shall fail to pay such taxes,
<br /> the said Beneficiary may pay such taxes and the sum or sums so
<br /> advanced, together with interest at sixteen percent (16. 00�) per annum,
<br /> shall be repaid by said Trustor, and this Deed of Trust shall stand as
<br /> security for the same.
<br /> 3 . INSURANCE AND REPAIRS. Trustor shall maintain fire and
<br /> extended coverage, windstorm, and other hazard and casualty insurance, ;
<br /> insuring the improvements and buildings constituting part of the Trust
<br /> Estate, for an amount no less than the amount of the unpaid principal
<br /> balance of the Note (co-insurance not exceeding 80� permitted) .
<br /> Further, Trustor shall maintain or purchase and keep at all times
<br /> current, flood insurance for an amount no less than the amount of the
<br /> unpaid principal balance of the note, providing the Trust Estate
<br /> securing this instrument is located in the Flood Plain as may be
<br /> established from time to time. Such insurance policies shall contain
<br /> a standard loss payee clause in favor of the Beneficiary and shall not x
<br /> be cancellable, terminable or modifiable without ten (10) days prior
<br /> written notice to Beneficiary. Trustor shall provide Beneficiary with
<br /> a copy of said insurance policies yearly immediately after payment of
<br /> the premiums. At the option of the Beneficiary, the proceeds of loss
<br /> under any policy, whether endorsed payable to the Beneficiary or not,
<br /> may be applied in payment of the principal, interest, or any other sum
<br /> secured by this instrument whether due or not; or to the restoration
<br /> or replacement of any of the damaged property on said premises without
<br /> in any way affecting the lien of this instrument or the obligation of
<br />. �
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