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200211562
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Last modified
10/15/2011 8:33:40 AM
Creation date
10/22/2005 10:14:42 PM
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DEEDS
Inst Number
200211562
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200211562 <br />hereto. All payments due hereunder shall be paid at the residence <br />of the BENEFICIARIES or as the holder of said security shall <br />designate in writing. <br />It is agreed by and between the parties hereto that while <br />title is vested in the TRUSTEE and until filing of Notice of <br />Default, the TRUSTOR shall: <br />A. Retain possession of the property at all times, except as may <br />be otherwise agreed by the parties in writing. <br />B. Maintain the building and its improvements and all personal <br />property sold under the parties' Agreement for Sale of Real <br />Estate, in good condition and repair. <br />C. Pay all general and special taxes and all special assessments <br />of every kind levied or assessed against or due upon said <br />property before delinquency, and comply with the provisions of <br />Paragraph E as hereinafter set forth. <br />D. Fire and Casualty Insurance. TRUSTOR will keep the property <br />insured against loss or damage by fire and other risk or risks <br />that, in the opinion of the BENEFICIARIES, should be insured <br />against, under policies of insurance with loss payable jointly <br />to the TRUSTOR and the BENEFICIARIES, in form and amount and <br />with companies acceptable to the BENEFICIARIES; will deliver <br />to the BENEFICIARIES a policy or policies renewing or <br />extending any expiring insurance, with a receipt showing <br />premiums paid at least 30 days before expiration. If the <br />TRUSTOR fails to so deliver any renewal policies, the <br />BENEFICIARIES may procure such insurance as it may elect and <br />may make payment of premiums thereon, which payment is <br />repayable on demand. Neither the TRUSTEE nor the <br />BENEFICIARIES will be responsible for obtaining or maintaining <br />such insurance. The BENEFICIARIES, from time to time, may <br />furnish to any insurance agency or company, or any other <br />person, any information contained in or extracted from any <br />insurance policy theretofore delivered to the BENEFICIARIES <br />pursuant hereto and any information concerning the loan <br />secured hereby. In no event and whether or not default <br />hereunder has occurred will the BENEFICIARIES, by approving, <br />accepting, or obtaining such insurance, incur any liability <br />for the amount of such insurance, the form or legal <br />sufficiency of insurance contracts, solvency of insurers, or <br />payment of losses by insurers; and the TRUSTOR hereby <br />expressly assumes full responsibility therefor and liability, <br />if any, thereunder. In the event of loss, the TRUSTOR will <br />give immediate written notice to the BENEFICIARIES; and the <br />BENEFICIARIES may, but are not obligated to, make proof of <br />loss if not made promptly by the TRUSTOR. In case of any <br />loss, the amount collected under any policy of insurance on <br />the property may, at the BENEFICIARIES' option, be applied by <br />the BENEFICIARIES on any indebtedness or obligation secured <br />hereby and in such order and amount as the BENEFICIARIES may <br />determine; or said amount or any portion thereof may, at the <br />BENEFICIARIES' option, be used in either replacing or <br />restoring the improvements partially or totally destroyed to <br />a condition satisfactory to the BENEFICIARIES; or said amount <br />or any portion thereof may be released to the TRUSTOR. In any <br />such event, neither the TRUSTEE nor the BENEFICIARIES will be <br />obligated to see the property application thereof; nor will <br />the amount so released or used be deemed a payment on any <br />indebtedness secured hereby. Such application, use, or <br />release will not cure or waive any default or notice of <br />default hereunder or invalidate any act done pursuant to such <br />notice. Any unexpired insurance and all returnable insurance <br />premiums will inure to the benefit of, and pass to, the <br />purchaser of the property covered thereby at any TRUSTEE'S <br />sale held hereunder. If the property is sold pursuant to the <br />power of sale contained herein or pursuant to any decree of <br />-2- <br />
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