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<br />88-
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<br />102644
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<br />Trustors' note of even date herewith in the principal
<br />sum of Seventeen Thousand Five Hundred Dollars
<br />($17,500.00;, together with interest at the rate or
<br />rates provided therein, or the principal and interest
<br />on any future advance as evidenced by promissory notes
<br />stating they are secured hereby, and any and all
<br />renewals, modifications, and extensions of such notes,
<br />both principal and interest on the notes being payable
<br />in accordance with the terms set forth therein, which
<br />by this reference is hereby made a part hereof;
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<br />(b) the performance ,of each agreement and cove-
<br />nant of Trustors herein contained; and
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<br />(c) the payment of any sum or sums of money which
<br />may be hereafter paid or advanced by Beneficiary under
<br />the terms of this Deed of Trust, together with interest
<br />thereon at the rate provided in the note.
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<br />To protect the security of this Deed of Trust, Trustors
<br />hereby covenant and agree as follows:
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<br />1. Payment of Indebtedness. To pay when due, the prin-
<br />cipal of, and the interest on, the indebtedness evidenced by the
<br />note, charges, fees and all other sums as provided in the loan
<br />instruments.
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<br />2. Title. Trustors are the owners of the property and
<br />have the right and authority to execute this Deed of Trust in
<br />respect to the property.
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<br />3. Taxes and Assessments. To pay, when due, all taxes,
<br />special assessments and all other charges against the property,
<br />before the same become delinquent, and, in the event Beneficiary
<br />shall so require, to add to the payments required under the note
<br />secured hereby, such amount as may be sufficient to enable
<br />Beneficiary to pay such taxes, assessments or other charges as
<br />they become due.
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<br />4. Insurance. To keep the improvements now or hereafter
<br />located on the real estate described herein insured against
<br />damage by fire and such other hazards as Beneficiary may require,
<br />in amounts and companies acceptable to Beneficiary, and with loss
<br />payable to Beneficiary. In case of loss under such policies,
<br />Beneficiary is authorized to adjust, collect and compromise, in
<br />its discretion, all claims thereunder and, at its sole option, is
<br />authorized to either apply the proceeds to the restoration of the
<br />property or upon the indebtedness secured hereby, but payments
<br />required by the note shall continue until the sums secured hereby
<br />are paid in full.
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<br />5. Repa~r, Maintenance and Use. To promptly repair,
<br />restore or r~build any buildings or improvements now or hereafter
<br />on the property; to keep the property in good condition and
<br />repair, without waste and free from mechanics or other liens not
<br />expressly subordinated to the lien hereof; to not make, suffer or
<br />permit any nuisance to exist nor to diminish or impair the value
<br />of the property by any act or omission to act; and to comply with
<br />all requirements of law with respect to the property.
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<br />6. Condemnation. In the event the property, or any part
<br />thereof, shall be taken by eminent domain, Beneficiary is entitled
<br />to collect and receive all compensation which may be paid for any
<br />property taken or for damages to property not taken, and Bene-
<br />ficiary shall apply such compensation, at its option, either to a
<br />reduction of the iudebtedness secured hereby or to repair and
<br />restore the property so taken.
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<br />7. Performance by Beneficiary. Beneficiary may, but shall
<br />have no obligat~on to, do any act which Trustors have agreed but
<br />failed to do, and Beneficiary may also do any act it deems
<br />necessary to protect the lien hereof. Trustor5 agree to repay,
<br />upon demand, any sums 50 expended by Beneficiary for the above
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