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<br />I
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<br />88- 102009
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<br />All of the foregoing estate, property and interest hereby conveyed to the
<br />said Trustee is hereinafter collectively referred to as the "Property".
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<br />TO HAVE AND TO HOLD the same unto the said Trustee, his successors and "\
<br />assigns, forever, IN TRUST HOWEVER and WITH POWER OF SALE hereby expressly
<br />granted unto the said Trustee, his successors, and assigns for the purpose
<br />of securing:
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<br />(a) The payment of Trustor's just indebtedness to Beneficiary in the
<br />principal sum of Seventy Thousand Dollars ($70,000.00)) for money borrowed,
<br />with interest thereon, all as evidenced by and in strict accordance with
<br />the terms of that certain promissory note, hereinafter called the "Note",
<br />bearing even date herewith made payahle to the order of Beneficiary,
<br />executed by Douglas E. Harrington and Jolyne A. Harrington, husband and
<br />wife, and providing for the payment of said indebtedness in installments,
<br />the last of which is due and payable 4-20 , 2003, subject to accel-
<br />eration of maturity on default in the payment of any installment of princi-
<br />pal or interest or in the performance of any covenant, agreement or warranty
<br />contained in this Deed of Trust;
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<br />(b) The performance of each agreement, covenant and warranty of
<br />Trustor herein contained or set forth in the Note or any agreement or
<br />instrument executed by Trustor in connection with the indebtedness hereby
<br />secured; and
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<br />(c) The payment of any sum or sums of money with interest thereon
<br />which may be hereafter paid or advanced under the terms of this Deed of
<br />Trust.
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<br />NOW, THEREFORE, TO PROTECT THE SECURITY OF THIS DEED OF TRUST, Trustor
<br />does for himself and for Trustor's heirs, representatives, vendees, succes-
<br />sors and assigns, the owners of said Property, hereby expressly covenant,
<br />agree and warrant to and with the Trustee and Beneficiary, and their
<br />successors, vendees and assigns:
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<br />FIRST: That the Trustor hereby covenants and agrees, to the extent
<br />permitted by law, as follows: (a) to pay promptly when due the principal
<br />and interest and other sums of money provided for in the Note and in this
<br />Deed of Trust; (b) to promptly pay before delinquency all taxes, assess-
<br />ments and other charges imposed by law upon the Property, the Trustor's
<br />interest therein, or upon this Deed of Trust or the Note; provided, how-
<br />ever, that in the event of any change of the law providing for the taxation
<br />of deeds of ~rust or debts thereby secured so as to affect this Deed of
<br />Trust, the entire indebtedness secured hereby shall at the option of the
<br />Beneficiary become due and payable 1 (c) to keep the above-described.
<br />Property and the improvements thereon in good condition and repair and not
<br />to commit or suffer waste thereof, and except as authorized in any schedule
<br />annexed hereto and forming a part hereof, neither to remove nor permit the
<br />removal of any timber, buildings, oil, gas, minerals, stone, rock, clay,
<br />fertilizer, gravel or top soil without the prior written consent of Benefi-
<br />ciary; (d) to maintain and deliver to Beneficiary policies of insurance
<br />against such hazards on the buildings and improvements now or hereafter
<br />located on or constituting a part of the Property as the Beneficiary shall
<br />require, in such companies and amounts and with such loss payable clauses
<br />as shall be satisfactory to the Beneficiary; that in the event of loss,
<br />Beneficiary is expressly authorized to settle or compromise claims under
<br />said policies and the proceeds thereof shall b~~ to the Beneficiary who
<br />may apply the same or any part thereof on th~indebtedness secured hereby
<br />or toward the reconstruction or repair of said buildings and improvements
<br />or release same to the Trustor; (e) to pay any lien, claim or charge
<br />against the Property which 'might take precedence over the lien hereof; (f)
<br />to pay on demand all legal expenses, title searches, appraisal or attor-
<br />neys' fees reasonably incurred or paid by Beneficiary to collect the Note
<br />or foreclose or protect the lien of this Deed of Trust; (g) that in the
<br />event Trustor shall fail to comply with the provisions of (a) through (f)
<br />above, the Beneficiary may expend such funds and take such action as is
<br />necessary to remedy such failure and all sums paid by ~he Beneficiary
<br />pursuant hereto with interest at the rate hereinafter provided shall
<br />constitute a lien upon the Property, shall be secured by this Deed of
<br />Trust, and shall be immediately due and repayable to the Beneficiary;
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