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200411760
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Last modified
10/16/2011 11:51:26 PM
Creation date
10/21/2005 6:21:45 AM
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DEEDS
Inst Number
200411760
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200411760 <br />systems and equipment therein, all of which shall be construed and considered as affixed to and part of <br />the real estate. <br />All of the foregoing estate, property and interest hereby conveyed to the said Trustee is <br />hereinafter 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 Seventy Thousand <br />Dollars ($70,000.00) for money borrowed, with interest thereon, all as evidenced by and in strict <br />accordance with the terms of that certain promissory note hereinafter called the "Note ", bearing even <br />date herewith made payable to the order of Beneficiary, executed by CRAIG A. WETZEL and <br />MICHAEL R. WETZEL, and providing for the payment of said indebtedness in installments, subject to <br />acceleration of maturity on default in the payment of any installment of principal or interest or in the <br />performance of any covenant, agreement or warranty contained in this Deed of Trust; <br />(b) The performance of each agreement, covenant and warranty of Trustor herein contained or set forth in <br />the Note or any agreement or instrument executed by Trustor in connection with the indebtedness hereby <br />secured; and <br />(c) The payment of any sum or sums of money with interest thereon which may be hereafter paid or <br />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, successors and assigns, the owners of <br />said Property, hereby expressly 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 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 <br />charges imposed by law upon the Property, the Trustor's interest therein, or upon this Deed of Trust or <br />the Note; provided, however, that in the event of any change of the law providing for the taxation of <br />deeds of trust or debts thereby secured so as to affect this Deed of Trust, the entire indebtedness secured <br />hereby shall at the option of the Beneficiary become due and payable; (0) to keep the above - described <br />Property and the improvements 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 a part hereof; (d) to <br />maintain and deliver to Beneficiary policies of insurance against such hazards on the buildings and <br />improvements now or hereafter located on or constituting a part of the Property as the Beneficiary shall <br />require, in such companies and amounts and with such loss payable clauses as shall be satisfactory to the <br />Beneficiary; that in the event of loss, Beneficiary is expressly authorized to settle or compromise claims <br />under said policies and the proceeds thereof shall be paid to the Beneficiary who may apply the same or <br />any part thereof on the indebtedness secured hereby or toward the reconstruction or repair of said <br />-3- <br />
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