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200508994
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200508994
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Last modified
10/17/2011 12:42:33 PM
Creation date
10/28/2005 12:18:23 PM
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DEEDS
Inst Number
200508994
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200508994 <br />the date of payment at the rate specified in the note, shall be due and payable on demand <br />and shall be fully secured by this Deed of Trust. <br />g. He will not without the prior written consent of the Beneficiary voluntarily create <br />or permit to be created against the property subject to this Deed of Trust any liens inferior <br />or superior to the lien of this Deed of Trust and further that he will keep and maintain the <br />same free from the claim of all persons supplying labor or materials which will enter into <br />the construction of any and all buildings now being erected or to be erected on said <br />premises. <br />h. He will not rent or assign any part of the rent of said property or demolish, <br />remove, or substantially alter any building without the written consent of the Beneficiary. <br />9. In the event the Trustor fails to pay any federal, state, or local tax assessment, <br />income tax or other tax lien, charge, fee, or other expense charged to the property hereinabove <br />described, the Beneficiary is hereby authorized to pay the same and any sum so paid by the <br />Beneficiary shall be added to and become a part of the principal amount of the indebtedness <br />evidenced by said promissory note. If the Trustor shall pay and discharge the indebtedness <br />evidenced by said promissory note, and shall pay such sums and shall discharge all taxes and <br />liens and costs, fees, and expenses of making, enforcing and executing this Deed of Trust, then <br />upon written request of the Beneficiary and the surrender of the Deed of Trust and the note to the <br />Trustee, the trustee shall, after payment by Trustor of the Trustee's fees, reconvey the property to <br />the Trustor or to the person or persons legally entitled thereto. <br />10. The Trustor covenants that he is lawfully seized and possessed of and has the <br />right to sell and convey said property; that the same is free from all encumbrances except liens <br />and encumbrances now of record; and that he hereby binds himself and his successors in interest <br />to warrant and defend the title aforesaid thereto and every part thereof against the lawful claims <br />of all persons whomsoever. <br />11. For better security of the indebtedness hereby secured, the Trustor upon the <br />request of the Beneficiary, its successors or assigns, shall execute and deliver a supplemental <br />mortgage or mortgages covering any additions, improvements, or betterments made to the <br />property hereinabove described and all property acquired after the date hereof. Furthermore, <br />should Trustor fail to cure any default in the payment of a prior or inferior encumbrance on the <br />property described by this instrument, Trustor hereby agrees to permit Beneficiary to cure such <br />default, but Beneficiary is not obligated to do so; and such advances shall become part of the <br />indebtedness secured by this instrument, subject to the same terms and conditions. <br />12. That all awards of damages in connection with any condemnation for public use <br />of or injury to any of said property are hereby assigned and shall be paid to Beneficiary, who <br />may apply the same to payment of the installments last due under said note, and the beneficiary <br />is hereby authorized, in the name of the Trustor to execute and deliver valid acquittances thereof <br />and to appeal from any such award. <br />190242.doe <br />
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