|
DEED OF TRUST
<br />Loan No: 34623 (Continued) 200213382 Page
<br />Deed of Trust. The words "Dead of Trust' mean this Deed of Trust among Truster, Lender, and Trustee, and includes without limitation all
<br />assignment and security interest provisions relating to the Personal Property and Rents.
<br />Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances
<br />relating to the protection of human health or the environment, including without limitation the Comprehensive Environments Response,
<br />Compensation, and Liability Act of 1980, as amended, 42 U,SC. Section 9601, at seq. ( "CERCLA 'I, the Superfund Amendments and
<br />Reauthorization Act of 1986, Pub. L. No. 99 499 ( "SARA'), the Hazardous Materials Transportation Act, 49 U.S.C. Section 11 at seq., the
<br />Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, at seq., or other applicable state or federal laws, rules, or regulations
<br />adopted pursuant thereto.
<br />Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in the events of default
<br />section of this Deed of Trust.
<br />Guaranty. The word 'Guaranty' means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including without
<br />limitation a guaranty of all or part of the Note.
<br />Hazardous Substances. The words " Hazarticus Substances" mean materials that, because of their quantity, concentration or physical,
<br />chemical or infectious characteristics, may cause or was a present or potential hazard to human health or the environment when improperly
<br />used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled. The words "Hazardous Substances" are
<br />used in their very broadest sense and include without limitation any and all hazardous or toxic substances, materials or waste as defined by
<br />or listed under the Environmental Laws. The term "Hazardous Substances' also includes, without limitation, petroleum and petroleum
<br />by- products or any fraction thereof and asbestos.
<br />Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed on the
<br />Real Property, facilities, additions, replacements and other construction on the Real Property.
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note or
<br />Related Documents, together with all renewals of, extensions of, mortification of, consolidations of and substitutions for the Note or Related
<br />Documents and any amounts expended or advanced by Lender to discharge Trustor's obligations or expenses incurred by Trustee or
<br />Lender to enforce Trustor s obligations under this Dead of Trust, together with interest on such amounts as provided in this Deed of Trust.
<br />Lender. The word "Lentler' means Bank of Clarks, its successors and assigns. The words "successors or assigns" mean any person or
<br />company that acquires any interest in the Note.
<br />Note. The word "Note" means the promissory note dated November 27, 2002, in the original principal amount of $92,500.00
<br />from Borrower to Lender, together with all renewals of extensions of, modifications of, refinancings of, consolidations of, and substitutions for
<br />the promissory note or agreement.
<br />Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter
<br />awned by Trustor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all
<br />replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance
<br />proceeds and refunds of premiums) from any sale or other disposition of the Property.
<br />Property. The word "Property" means collectively the Real Property and the Personal Property.
<br />Real Property. The words "Real Property' mean the real property, interests and rights, as further described in this Deed of Trust.
<br />Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental
<br />agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments,
<br />agreements and Documents, whether now or hereafter existing, executed in connection with the Indebtedness.
<br />Rents. The word 'Rents' means all present and future rants, revenues, income, issues, royalties, profits, and other benefits derived from the
<br />Property.
<br />Trustee. The word 'Trustee" means Bank of Clarks, whose address is 301 N. Green, P.O. Box 125, Clarks, HE 68628 -0125 and any
<br />substitute or successor trustees.
<br />Trustor. The word "Trustor" means Jose L. Morales and Carta L Morales.
<br />EACH TRUSTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST, AND EACH TRUSTOR AGREES TO
<br />ITS TERMS.
<br />jC4R
<br />I�
<br />J eJ MOra es, Intlividually
<br />z
<br />Carla I. Morales, Individually
<br />q / INDIVIDUAL ACKNOWLEDGMENT
<br />STATE OF ZI
<br />)as
<br />COUNTY OF dl_l � )
<br />On this day before me, the undand ed Notary Public, personally appeared Jose L. Morales and Carla I. Morales, to me known to be the
<br />individuals described in and who executed the Dead of Trust, and acknowledgeXMattMey igne d the Deed of Trust as their free antl voluntary act
<br />and upon for the uses antl purposes therein mention Given untler my hantl antl official seal [his day 0(L�.
<br />B
<br />otary Public i antl for the State of
<br />Residing at
<br />;6�4�:RAL,ffogifgf mle of Nehmaya My commiss'on exo'res pl S ANN WRLIAMS emmiNN ' L a20N
<br />
|