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200409861
<br />other leases; all easements and rights of way; all rights of homestead
<br />and homestead exemption and any surviving spouse's marital or distribu-
<br />tive share, and all other contingent rights in and to said premises; and
<br />All fixtures, improvements, buildings, and the plumbing, heating,
<br />ventilating and lighting systems and equipment therein, all of which
<br />shall be construed and considered as affixed to and part of the real
<br />estate.
<br />All of the foregoing estate, property and interest hereby conveyed to the
<br />said Trustee is hereinafter collectively referred to as the "Property."
<br />TO HAVE AND TO HOLD the same unto the said Trustee, Trustee's successors
<br />and assigns forever, IN TRUST HOWEVER and WITH POWER OF SALE hereby expressly
<br />granted unto the said Trustee, Trustee's successors, and assigns for the
<br />purpose of securing:
<br />(a) The payment of Trustor's just indebtedness to Beneficiary in the
<br />principal sum of Two Hundred Fifty Thousand Dollars ($250,000.00) for money
<br />borrowed, with interest thereon, all as evidenced by and in strict accordance
<br />with the terms of that certain promissory note hereinafter called the "Note ",
<br />bearing even date herewith made payable to the order of Beneficiary, executed
<br />by J.J.A. Holdings, L.L.C., and providing for the payment of said indebted-
<br />ness in installments, subject to acceleration of maturity on default in the
<br />payment of any installment of principal or interest or in the performance of
<br />any covenant, agreement or warranty contained in this Deed of Trust;
<br />(b) The performance of each agreement, covenant and warranty of Trustor
<br />herein contained or set forth in the Note or any agreement or instrument
<br />executed by Trustor in connection with the indebtedness hereby secured; and
<br />(c) The payment of any sum or sums of money with interest thereon which
<br />may be hereafter paid or advanced under the terms of this Deed of Trust.
<br />NOW, THEREFORE, TO PROTECT THE SECURITY OF THIS DEED OF TRUST, Trustor
<br />does for Trustor and for Trustor's heirs, representatives, vendees,
<br />successors and assigns, the owners of said Property, hereby expressly
<br />covenant, agree and warrant to and with the Trustee and Beneficiary, and
<br />their successors, vendees and assigns:
<br />First: That the Trustor hereby covenants and agrees, to the extent
<br />permitted by law, as follows: (a) to pay promptly when due the principal and
<br />interest and other sums of money provided for in the Note and in this Deed of
<br />Trust; (b) to promptly pay before delinquency all taxes, assessments and
<br />other charges imposed by law upon the Property, the Trustor's interest
<br />therein, or upon this Deed of Trust or the Note; provided, however, that in
<br />the event of any change of the law providing for the taxation of deeds of
<br />trust or debts thereby secured so as to affect this Deed of Trust, the entire
<br />indebtedness secured hereby shall at the option of the Beneficiary become due
<br />and payable; (c) to keep the above - described Property and the improvements
<br />thereon in good condition and repair and not to commit or suffer waste
<br />thereof, and except as authorized in any schedule annexed hereto and forming
<br />a part hereof; (d) to maintain and deliver to Beneficiary policies of
<br />insurance against such hazards on the buildings and improvements now or
<br />hereafter located on or constituting a part of the Property as the Beneficia-
<br />ry shall require, in such companies and amounts and with such loss payable
<br />clauses as shall be satisfactory to the Beneficiary; that in the event of
<br />loss, Beneficiary is expressly authorized to settle or compromise claims
<br />under said policies and the proceeds thereof shall be paid to the Beneficiary
<br />who may apply the same or any part thereof on the indebtedness secured hereby
<br />or toward the reconstruction or repair of said buildings and improvements or
<br />release same to the Trustor; (e) to pay any lien, claim or charge against the
<br />Property which might take precedence over the lien hereof; (f) to pay on
<br />demand all legal expenses, title searches, appraisal or attorneys' fees
<br />reasonably incurred or paid by Beneficiary to collect the Note or foreclose
<br />or protect the lien of this Deed of Trust; (g) that in the event Trustor
<br />shall fail to comply with the provisions of (a) through (f) above, the
<br />Beneficiary may expend such funds and take such action as is necessary to
<br />remedy such failure and all sums paid by the Beneficiary pursuant hereto with
<br />i�te�est at �e mate tiiereina£ ter ��ovided shall constitute a lien upon the
<br />Property, shall be secured by this Deed of Trust, and shall be immediately
<br />due and repayable to the Beneficiary; (h) not to sell the Property or any
<br />
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