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delinquency, and to deliver to BENEFICIARY copies of receipts showing <br />payment of such taxes each year. <br />D. Procure and maintain policies of all -risk insurance on said improvements, <br />in an <br />in sums and underwritten by companies acceptable <br />full i the BENEFICIARY, which <br />amount at least equal to the property's <br />policies shall name the BENEFICIARY as additional insured,hereh the <br />proceeds payable to the parties as their interests may appear <br />TRUSTORS agree to provide BENEFICIARY with copies of such policies or <br />certificates of insurance during the term of this indebtedness, which <br />policies of insurance may not be cancelled by said carrier without fifteen <br />(15) days written notice to BENEFICIARY. <br />E. In the event the TRUSTORS fail or neglect to pay taxes and procure <br />casualty insurance, all as above set forth, then BENEFICIARY may pay such <br />taxes and procure such insurance, and all sums expended and advanced by <br />BENEFICIARY and TRUSTEE in accordance with the provisions contained herein <br />are secured hereby and, without demand, shall be immediately due and <br />payable by the TRUSTORS and shall bear interest at the rate of five <br />percent (5 %) per annum until paid; provided however, that at the option of <br />the BENEFICIARY and TRUSTEE, such advancements balan�e opayment ny of <br />ndebtedness <br />insurance may be added to the principal <br />secured hereby and shall bear interest at the rate of ten percent (10 %) <br />per annum until paid. <br />TRUSTORS covenant and agree that a failure to make any payment, either <br />principal or interest, on the Note secured hereby when due and payable, or a <br />failure to comply with any of the covenants and agreements herein made shall <br />cause the whole sum of money hereby secured to become immediately due and <br />collectible at the option of the BENEFICIARY, and the premises shall have the <br />right to cause Notice of Default to be given as <br />provided herein. <br />The parties mutually agree as follows: <br />time to time upon written request of BENEFICIARY, <br />A. At any time and from <br />payment of fees and presentation of this Deed of for Trust <br />cancellation on and <br />endorsement (in case of full reconveyance, person for the payment <br />retention), without affecting the liability of any p <br />of the indebtedness, TRUSTEE may (a) consent to the making of any map or <br />plat of said property; (b) join in granting any easement or creating any <br />restriction thereon; (c) join in any subordination or other agreement <br />affecting this Deed of Trust or the lien or charge thereof; (d) reconvey <br />this ee of warranty, all Trust any part of said property upon requestrofo <br />or BENEFICIARY. <br />B. The grantee in any Deed of Reconveyance may be described as "the person or <br />persons entitled thereto ", and the recitals therein of any matters or <br />facts shall be conclusive of the <br />shall operate as a reassignment ofrentsu thereof. <br />and profits assigned to TRUSTEE• <br />C. Upon default by TRUSTORS in the payment of indebtedness secured hereby or <br />in the performance of any agreement hereunder, BENEFICIARY may accelerate <br />payment and declare all sums secured hereby immediately due and payable by <br />delivery to TRUSTEE of written declaration of default. If BENEFICIARY <br />desires said property to be sold, she shall deposit with TRUSTEE this Deed <br />of Trust and all promissory notes and documents evidencing expenditures <br />secured hereby, and shall deliver to TRUSTEE a written Notice of Default <br />and election to cause said property to be sold in the form required by <br />law, which shall be duly filed for record by TRUSTEE. <br />(1) After the lapse of such time as may be required by law (presently <br />being two (2) months following the recordation of said Notice of <br />Default), Notice of Default and Notice of Sale having been given as <br />required by law, TRUSTEE, without demand on TRUSTORS, shall sell <br />said property on the date and at the time and place designated in <br />said Notice of Sale, at public auction to the highest bidder, the <br />purchase price payable in lawful money of the United States at the <br />time of sale. The person conducting the sale may, for any cause he <br />deems expedient, postpone the sale from time to time until it shall <br />be completed and in every such case, notice of postponement shall be <br />given by public declaration thereof by such person at the time and <br />place last appointed for the sale; p <br />rovided, if the sale is <br />postponed for longer than one (1) day beyond the day designated in <br />the Notice of Sale, notice thereof shall be given in the same manner <br />as the original Notice of Sale. TRUSTEE shall executsoans dliver <br />to the purchaser his Deed conveying said property <br />without any covenant or warranty, express or implied. The recitals <br />in the Deed of any matters or facts shall be conclusive proof of the <br />truthfulness thereof. Any person, including BENEFICIARY, may <br />at the defends sale. <br />the tit e ofthe above property hereby <br />roperty to the purchaser at sale. <br />-2- <br />