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<br />r.E.RECORDED
<br />88-105262
<br />
<br />88-
<br />
<br />105141
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<br />1. Payment of Indebtedness. To pay when due, the principa. of, and the interest
<br />on, the indebtedness evidenced by the note, charges, fees and all other sums a~ pro-
<br />vided in the loan instruments.
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<br />2. Title. Trustor is the owner of the propedy and has the right and authority
<br />to execute-thIS Deed of Trust in respect to the property.
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<br />3. Taxes and Assessments. To pay, when due, all taxes, special assessments
<br />and all other charges against the property, before the same become delinquent, and,
<br />in the event Beneficiary shall 50 require, to add to the payments required under
<br />the note secured hereby, such amount as may be sufficient to enable Beneficiary to
<br />pay such taxes, assessments or other charges 85 they become due.
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<br />4. Insurance. To keep the improvements now or hereafter located on the real
<br />estate described herein insured against damage by fire and such either hazards as
<br />Beneficiary may require, in amounts and companies acceptable to Beneficiary, and
<br />with loss payable to Beneficiary. In case of loss under such policies, Beneficiary
<br />is authorized to adjust, collect and compromise, in its discretion, all claims there-
<br />under and, at its sole option, is authorized to either apply the proceeds to the
<br />restoration of the property or upon the indebtedness secured hereby, but payments
<br />required by the note shall continue until the sums secured hereby are paid in full.
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<br />5. Reoair, Maintenance and Use. To promptly repair, restorE! or rebuild any
<br />buildings or improvements now or hereafter on the property; to keep the property
<br />in good condition and repair, without waste and free from mechanics or other liens
<br />not expressly subordinated to the lien hereof; to, not make, suffer or permit any
<br />nuisance to exist nor to diminish or impair the value of the property by any act
<br />or omission to act; and to comply with all requirements of law with respect to the
<br />property.
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<br />6. Condemnation. In the event the property, or any part thereof, shall be
<br />taken by eminent domain, Beneficiary is entitled to collect and receive all compensa-
<br />tion which may be paid for any property tak~ or for damages to property not taken,
<br />and Beneficiary shall apply such compensation, at its option, either to a reduction
<br />of the indebtedness secured hereby or to repair and restore the property 50 taken.
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<br />7 ~ Performance bv Beneficiarv. Beneficiary may, but shall have no obligation
<br />to, do any act which Trustor has agreed but failed to do, and Beneficiary may also
<br />do any act it deems necessary to protect the lien hereof. Trustor agrees to repay,
<br />upon demand, any sums 50 expended by Beneficiary for the above purposes, and any
<br />sum 50 expended by Beneficiary shall be added to the indebtedness secured hereby
<br />and become secured by the lien hereof. B~nef iciary shall not incur any personal
<br />liabili ty because of anything it may do or anit to do hereunder.
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<br />B. Assiqnment of Rents. Beneficiary shall have the right, power and authority
<br />during the continuance of this Deed of Trust to collect the rents, issues and profits
<br />of the property and of any personal property located thereon with or without taking
<br />possession of the property affected hereby, and Trustor hereby absolutely and uncondi-
<br />tionally assigns all such rents, issues and profits to Beneficiary. Beneficiary,
<br />however, hereby consents to Trustorls collection and retention of such rents, issues
<br />and profits as they accrue and become payable, so long as Trustor is not, at such
<br />time, in default with respect to payment of any indebtedness secured hereby, or in
<br />the performance of any agreement hereunder. If any event of default described here-
<br />after in respect to this Deed of Trust shall have occurred and be continuing, Benefi-
<br />ciary. as a matter of right and without notice to Trustor or anyone claiming under
<br />Trustor, and without regard to the value of the trust estate or the interest of the
<br />Trustor therein, shall have the right to apply to any court having juriSdiction to
<br />appoint a receiver of the property.
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<br />9. Transfer of Property. If all or any part of the property or any interest
<br />of Trustor therein is sold, transferred or further encumbered without the express
<br />Dr written consent of Beneficiary, Beneficiary may, at its sole option, declare all
<br />sums secured by this Deed of trust to be immediately due and payable and proceed
<br />to the remedies available to it under the default provisions contained herein.
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<br />10. Events of Default. Any of the following events shall be deemed an event
<br />of def aul thereunder:
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<br />(a) Trustor shall have failed to make payment uf any in-
<br />stallment of interest., principal or principal and irlten:?st u!
<br />any other sums secured hereby when due;
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