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200508992
<br />1. This conveyance is made upon and subject to the further trust that the said Trustor
<br />shall remain in quiet and peaceable possession of the above granted and described premises and
<br />take the profits thereof to his own use until the default be made in any payment of an installment
<br />due on said note or in the performance of any of the covenants or conditions contained therein or
<br />in this Deed of Trust; and, also to secure the reimbursement of the Beneficiary or any other
<br />holder of said note, the Trustee or any substitute trustee of any and all costs and expenses
<br />incurred, including reasonable attorney's fees on account of any litigation which may arise with
<br />respect to this Trust or with respect to the indebtedness evidenced by said note, the protection
<br />and maintenance of the property hereinabove described or in obtaining possession of said
<br />property after any sale which may be made as hereinafter provided.
<br />2. Upon the full payment of the indebtedness evidenced by said note and the interest
<br />thereon, the payment of all other sums herein provided for, the repayment of all monies
<br />advanced or expended pursuant to said note or this instrument, and upon the payment of all other
<br />proper costs, charges, commissions, and expenses, the above - described property shall be released
<br />and reconveyed to and at the cost of the Trustor.
<br />3. Upon default in any of the covenants or conditions of this instrument or of the
<br />note or loan agreement secured hereby, the Beneficiary or his assigns may without notice and
<br />without regard to the adequacy of security for the indebtedness secured, either personally or by
<br />attorney or agent without bringing any action or proceeding, or by a receiver to be appointed by
<br />the court, enter upon and take possession of said property or any part thereof, and do any acts
<br />which Beneficiary deems proper to protect the security hereof, and either with or without taking
<br />possession of said property, collect and receive the rents, royalties, issues, and profits thereof,
<br />including rents accrued and unpaid, and apply the same, less costs of operation and collection,
<br />upon the indebtedness secured by this Deed of Trust, said rents, royalties, issues, and profits
<br />being hereby assigned to the Beneficiary as further security for the payment of such
<br />indebtedness. Exercise of rights under this paragraph shall not cure or waive any default or
<br />notice of default hereunder or invalidate any act done pursuant to such notice but shall be
<br />cumulative to any right and remedy to declare a default and cause notice of default to be
<br />recorded as hereinafter provided, and cumulative to any other right and/or remedy hereunder, or
<br />provided by law, and may be exercised concurrently or independently. Expenses incurred by
<br />Beneficiary hereunder including reasonable attorney's fees shall be secured hereby.
<br />4. The Trustor covenants and agrees that if he shall fail to pay said indebtedness, or
<br />any part thereof, when due, or shall fail to perform any covenant or agreement of this instrument
<br />or of the promissory note secured hereby, the entire indebtedness hereby secured shall
<br />immediately become due, payable, and collectible at the option of the Beneficiary or assigns,
<br />regardless of maturity, and the Beneficiary or assigns may enter upon said property and collect
<br />the rents and profits thereof. Upon such default in payment or performance, and before or after
<br />such entry, the Trustee, acting in the execution of this Trust after the notice of default has been
<br />recorded, shall mail a copy of the default to each person who is a party to this instrument, at the
<br />address set out in this instrument, as well as to any person who has requested any notice of
<br />default and notice of sale by recording said request for notice with the register of deeds in the
<br />county in which this instrument is recorded, and after the lapse of time which is required by law
<br />after mailing the notice, the Trustee shall have the power to sell said property, and it shall be the
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