200611383 - Laserfiche WebLink

Browse

200611383 TOGETHER with and including all and singular the tenements I heredita- mentsl appurtenances and privileges thereunto belonging or in anywise appertainingl whether now or hereafter acquiredl which shall include I without limiting the generality of the foregoingl the following: All of the rentsl issues and profitsl including all rentsl royaltiesl bonuses and benefits under any existing or future oill gas or mineral or other leases; all easements and rights of way; all rights of homestead and homestead exemption and any surviving spouse/s marital or distribu- tive share I and all other contingent rights in and to said premises; and All fixturesl improvements I buildingsl and the plumbingl heatingl ventilating and lighting systems and equipment thereinl all of which shall be construed and considered as affixed to and part of the real estate. All of the foregoing estatel property and interest hereby conveyed to the said Trustee is hereinafter collectively referred to as the "Property." TO HAVE AND TO HOLD the same unto the said Trusteel Trustee/s successors and assigns foreverl IN TRUST HOWEVER and WITH POWER OF SALE hereby expressly granted unto the said Trusteel Trustee/s successors I and assigns for the purpose of securing: (a) The payment of Trustorls just indebtedness to Beneficiary in the principal sum of Fifty-two Thousand Dollars ($52/000.00) for money borrowed I with interest thereonl all as evidenced by and in strict accordance with the terms of that certain promissory note hereinafter called the "Note"1 bearing even date herewith made payable to the order of BeneficiarYI executed by Wade King Wilsonl a single personl and providing for the payment of said indebtedness in installmentsl subject to acceleration of maturity on default in the payment of any installment of principal or interest or in the performance of any covenantl agreement or warranty contained in this Deed of Trust; (b) The performance of each agreement I covenant and warranty of Trustor herein contained or set forth in the Note or any agreement or instrument executed by Trustor in connection with the indebtedness hereby secured; and (c) The payment of any sum or sums of money with interest thereon which may be hereafter paid or advanced under the terms of this Deed of Trust. NOWI THEREFORE I TO PROTECT THE SECURITY OF THIS DEED OF TRUST I Trustor does for Trustor and for Trustorls heirsl representatives I vendees I successors and assigns I the owners of said Property I hereby expressly covenant I agree and warrant to and with the Trustee and BeneficiarYI and their successors I vendees and assigns: First: That the Trustor hereby covenants and agrees I to the extent permitted by lawl as follows: (a) to pay promptly when due the principal and interest and other sums of money provided for in the Note and in this Deed of Trust; (b) to promptly pay before delinquency all taxes I assessments and other charges imposed by law upon the Property I the Trustorl s interest thereinl or upon this Deed of Trust or the Note; (c) to keep the above- described Property and the improvements thereon in good condition and repair and not to commit or suffer waste thereofl and except as authorized in any schedule annexed hereto and forming a part hereof; (d) to maintain and deliver to Beneficiary policies of insurance against such hazards on the buildings and improvements now or hereafter located on or constituting a part of the Property as the Beneficiary shall require I in such companies and amounts and with such loss payable clauses as shall be satisfactory to the Beneficiary; that in the event of lossl Beneficiary is expressly authorized to settle or compromise claims under said policies and the proceeds thereof shall be paid to the Beneficiary who may apply the same or any part thereof on the indebtedness secured hereby or toward the reconstruction or repair of said buildings and improvements or release same to the Trustor; (e) to pay any lienl claim or charge against the Property which might take precedence over the lien hereof; (f) to pay on demand all legal expenses I title searches I appraisal or attorneys I fees reasonably incurred or paid by Beneficiary to collect the Note or foreclose or protect the lien of this Deed of Trust; (g) that in the event Trustor shall fail to comply with the provisions of (a) through (f) above I the Beneficiary may expend such funds