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200408613
<br />TOGETHER with and including all and singular the tenements, hereditaments, appurtenances and
<br />privileges thereunto belonging or in anywise appertaining, whether now or hereafter acquired, which shall
<br />include, without limiting the generality of the foregoing, the following:
<br />All of the rents, issues and profits, including all rents, royalties, bonuses and benefits under any existing or
<br />future oil, gas or mineral or other leases; all easements and rights of way; all rights of homestead and
<br />homestead exemption and any surviving spouse's marital or distributive share, and all other contingent rights
<br />in and to said premises; and
<br />All fixtures, improvements, buildings, and the plumbing, heating, ventilating and lighting systems and
<br />equipment therein; all of which shall be construed and considered as affixed to and part of the real estate.
<br />All of the foregoing estate, property and interest hereby conveyed to the said Trustee is hereinafter
<br />collectively referred to as the "Property ".
<br />TO HAVE AND TO HOLD the same unto the said Trustee, Trustee's successors and assigns,
<br />forever, IN TRUST HOWEVER and WITH POWER OF SALE hereby expressly granted unto the said
<br />Trustee, Trustee's successors, and assigns for the purpose of securing:
<br />(a) The payment of Trustor's just indebtedness to Beneficiary in the principal sum of Twenty -
<br />nine Thousand Five Hundred Dollars ($29,500.00) for money borrowed, with interest thereon, all as
<br />evidenced by and in strict accordance with the terms of that certain promissory note, hereinafter called the
<br />"Note ", bearing even date herewith made payable to the order of Beneficiary, executed by Larry E. Royle,
<br />and providing for the payment of said indebtedness in installments, subject to acceleration of maturity on
<br />default in the payment of any installment of principal or interest or in the performance of any covenant,
<br />agreement or warranty contained in this Deed of Trust;
<br />(b) The performance of each agreement, covenant and warranty of Trustor herein contained or
<br />set forth in the Note or any agreement or instrument executed by Trustor in connection with the indebtedness
<br />hereby secured; and
<br />(c) The payment of any sum or sums of money with interest thereon which may be hereafter paid
<br />or advanced under the terms of the Deed of Trust.
<br />NOW, THEREFORE, TO PROTECT THE SECURITY OF THIS DEED OF TRUST, Trustor does
<br />for Trustor and for Trustor's heirs, representatives, vendees, successors and assigns, the owners of said
<br />Property, hereby expressly covenant, agree and warrant to and with the Trustee and Beneficiary, and their
<br />successors, vendees and assigns:
<br />FIRST: That the Trustor hereby covenants and agrees, to the extent permitted by law, as follows:
<br />(a) to pay promptly when due the principal and interest and other sums of money provided for in the Note
<br />and in this Deed of Trust; (b) to promptly pay before delinquency all taxes, assessments and other charges
<br />imposed by law upon the Property, the Trustor's interest therein, or upon this Deed of Trust or the Note;
<br />provided, however, that in the event of any change of the law providing for the taxation of deeds of trust or
<br />debts thereby secured so as to affect this Deed of Trust, the entire indebtedness secured hereby shall, at the
<br />option of the Beneficiary, become due and payable; (c) to keep the above - described Property and the
<br />improvements thereon in good condition and repair and not to commit or suffer waste thereof, and except
<br />as authorized in any schedule annexed hereto and forming a part hereof, neither to remove nor permit the
<br />removal of any timber, buildings, oil, gas, minerals, stone, rock, clay, fertilizer, gravel or top soil without
<br />the prior written consent of Beneficiary; (d) to maintain and deliver to Beneficiary policies of insurance
<br />against such hazards on the buildings and improvements now or hereafter located on or constituting a part
<br />of the Property as the Beneficiary shall require, in an amount not less than the total outstanding indebtedness
<br />herein and with such loss payable clauses as shall be satisfactory to the Beneficiary; that in the event of loss,
<br />Beneficiary is expressly authorized to settle or compromise claims under said policies and the proceeds
<br />thereof shall be paid to the Beneficiary who may apply the same or any part thereof on the indebtedness
<br />secured hereby or toward the reconstruction or repair of said buildings and improvements or release same
<br />to the Trustor; (e) to pay any lien, claim or charge against the Property which might take precedence over
<br />the lien hereof; (f) to pay on demand all legal expenses, title searches, appraisal or attorneys' fees reasonably
<br />incurred or paid by Beneficiary to collect the Note or foreclose or protect the lien of this Deed of Trust; (g)
<br />that in the event Trustor shall fail to comply with the provisions of (a) through (f) above, the Beneficiary
<br />may expend such funds and take such action as is necessary to remedy such failure and all sums paid by the
<br />Beneficiary pursuant hereto with interest at the rate hereinafter provided shall constitute a lien upon the
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