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<br />200700926 <br /> <br />C. <br /> <br />Pay all general and special taxes and all <br />every kind levied or assessed against or <br />before delinquency, and to deliver to <br />receipts showing payment of such taxes each <br /> <br />special assessments of <br />due upon said property <br />BENEFICIARY copies of <br />year. <br /> <br />D. Procure and maintain policies of all-risk insurance on said <br />improvements, in sums and underwritten by companies acceptable to <br />the BENEFICIARY, in an amount at least equal to the property's full <br />insurable value, which policies shall name the BENEFICIARY as <br />additional insured, with the proceeds payable to the parties as <br />their interests may appear hereunder. TRUSTORS agree to provide <br />BENEFICIARY with copies of such policies or certificates of <br />insurance during the term of this indebtedness, which pOlicies of <br />insurance may not be cancelled by said carrier without Fifteen (15) <br />days written notice to BENEFICIARY. <br /> <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 <br />pay such taxes and procure such insurance, and all sums expended <br />and advanced by BENEFICIARY and TRUSTEE in accordance wi th the <br />provisions contained herein are secured hereby and, without demand, <br />shall be immediately due and payable by the TRUSTORS and shall bear <br />interest at the rate of Ten Percent (10%) per annum until paid; <br />provided however, that at the option of the BENEFICIARY and <br />TRUSTEE, such advancements for payment of taxes and insurance may <br />be added to the principal balance of any indebtedness secured <br />her~by and shall bear interest at the rate of Ten Percent (10%) per <br />annum until paid. <br /> <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 BENEFICIARY shall have the <br />right to cause Notice of Default to be given and the premises to be sold as <br />provided herein. <br /> <br />The parties mutually agree as follows: <br /> <br />A. At any time and from time to time upon written request of <br />BENEFICIARY, payment of fees and presentation of this Deed of Trust <br />and the Note for endorsement (in case of full reconveyance, for <br />cancellation and retention), without affecting the liability of any <br />person for the payment of the indebtedness, TRUSTEE may (a) consent <br />to the making of any map or plat of said property; (b) join in <br />granting any easement or creating any restriction thereon; (c) join <br />in any subordination or other agreement affecting this Deed of <br />Trust or the lien or charge thereof; (d) reconvey this Deed of <br />Trust or the lien or charge thereof; (d) reconvey, without <br />warranty, all or any part of said property upon request of <br />BENEFICIARY. <br /> <br />B. The grantee in any Deed of Reconveyance may be described as "the <br />person or persons entitled thereto", and the recitals therein of <br />any matters or facts shall be conclusive proof of the truthfulness <br />thereof. Reconveyance shall operate as a reassignment of rents and <br />profits assigned to TRUSTEE. <br /> <br />C. Upon default by TRUSTORS in the payment of indebtedness secured <br />hereby or in the performance of any agreement hereunder, <br />BENEFICIARY may accelerate payment and declare all sums secured <br />hereby immediately due and payable by delivery to TRUSTEE of <br />written declaration of default. If BENEFICIARY desires said <br />property to be sold, she shall deposit with TRUSTEE this Deed of <br />Trust and all promissory notes and documents evidencing <br />expenditures secured hereby, and shall deliver to TRUSTEE a written <br />Notice of Default and election to cause said property to be sold in <br />the' form required by law, which shall be duly filed for record by <br />TRUSTEE. <br /> <br />-2- <br />