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200315697
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Last modified
10/16/2011 9:52:02 AM
Creation date
10/28/2005 4:36:38 PM
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DEEDS
Inst Number
200315697
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200315697 <br />discharge the indebtedness evidenced by said promissory note, and shall pay such sums and shall discharge all <br />taxes and liens and costs, fees, and expenses of making, enforcing and executing this Deed of Trust, then upon <br />written request of the Beneficiary and the surrender of the Deed of Trust and the note to the Trustee, the trustee <br />shall, after payment by Trustor of the Trustee's fees, reconvey the property to the Trustor or to the person or <br />persons legally entitled thereto. <br />10. The Trustor covenants that he is lawfully seized and possessed of and has the right to sell and <br />convey said property; that the same is free from all encumbrances except liens and encumbrances now of <br />record; and that he hereby binds himself and his successors in interest to warrant and defend the title aforesaid <br />thereto and every part thereof against the lawful claims of all persons whomsoever. <br />11. For better security of the indebtedness hereby secured, the Trustor upon the request of the <br />Beneficiary, its successors or assigns, shall execute and deliver a supplemental mortgage or mortgages covering <br />any additions, improvements, or betterments made to the property hereinabove described and all property <br />acquired after the date hereof. Furthermore, should Trustor fail to cure any default in the payment of a prior or <br />inferior encumbrance on the property described by this instrument, Trustor hereby agrees to permit Beneficiary <br />to cure such 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 of or injury to <br />any of said property are hereby assigned and shall be paid to Beneficiary, who may apply the same to payment <br />of the installments last due under said note, and the beneficiary is hereby authorized, in the name of the Trustor <br />to execute and deliver valid acquittances thereof and to appeal from any such award. <br />13. The irrevocable right to appoint a substitute Trustee or Trustees in hereby expressly granted to <br />the Beneficiary, his successors or assigns, to be exercised at any time hereafter without specifying any reason <br />therefor, by filing for record in the office where this instrument is recorded a substitution of Trustee. Prior to <br />recording the substitution of Trustee, a copy of the instrument of the substitution of the successor Trustee shall <br />be mailed to the Trustor and all persons who have requested notice of default and notice of sale by filing such <br />request with the office of Register of Deeds where this Deed of Trust is recorded. <br />14. If more than one person joins in the execution of this instrument as Trustor, of if anyone so <br />joined be of the feminine sex, the pronouns and relative words used herein shall be read as if written in the <br />plural or feminine, respectively, and the term "Beneficiary" shall include any payee of the indebtedness hereby <br />secured or any assignee or transferee thereof whether by operation of law or otherwise. The covenants herein <br />contained shall bind and the rights herein granted or conveyed shall inure to the respective heirs, executors, <br />administrators, successors, and assigns of the parties hereto. <br />15. In compliance with section 101.1(d) of the Rules and Regulations of the Small Business <br />Administration (13 C.F.R. 101.1(d)), this instrument is to be construed and enforced in accordance with <br />applicable Federal law. <br />16. A judicial decree, order, or judgment holding any provision or portion of this instrument invalid <br />or unenforceable shall not in any way impair or preclude the enforcement of the remaining provisions or <br />portions of this instrument. <br />
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