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<br />'1..._,1..
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<br />200702292
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<br />Grantor(s) agrees to pay all expenses incurred by Beneficiary in collecting, enforcing or protecting Beneficiary's
<br />rights and remedies, such as attorney's fees, eourt costs and other legal expenses. This Security Instrument shall
<br />remain in effect until released. Grantor(s) agrees to pay for any recordation costs of such release.
<br />INSURANCE. Grantor(s) shall keep all improvements on said land insured for the benefit of Beneficiary against
<br />loss by fire, windstorm and such other casualties, in such manner and for such amounts, not exceeding that amount
<br />necessary to pay the sum secured by this Deed of Trust, as may be satisfactory to the Beneficiary. Grantor(s) shall
<br />purchase such insurance, pay all premiums therefor, and deliver to Beneficiary such policies along with evidence of
<br />premium payment as long as the Contract secured hereby remains unpaid. If Grantor(s) fails to do so, then
<br />Beneficiary, at his option, may purchase such insurance. Such amounts paid by Beneficiary shall be added to the
<br />Contract secured by this Deed of Trust, and shall be due and payable upon demand by Grantor(s) to Beneficiary.
<br />TAXES, ASSESSMENTS, CHARGES. Grantor(s) shall pay all taxes, assessments and charges as may be
<br />lawfully levied against said premises within thirty (30) days after the same shall become due. In the event
<br />Grantor(s) fails to do so, the Beneficiary, at his option, may pay the same and the amounts so paid shall be added
<br />to the Contract secured by this Deed of Trust, and shall be due and payable upon demand by Grantor(s) to
<br />Beneficiary.
<br />PARTIAL RELEASE. Grantor(s) shall not be entitled to the partial release of any of the above described
<br />property unless a specific provision is included in this Deed of Trust. In such event, Grantor(s) must strictly
<br />comply with the terms thereof. Notwithstanding anything herein contained, Grantor(s) shall not be entitled to any
<br />release of property unless Grantor(s) is not in default and is in full compliance with all of the terms and provisions
<br />of the Contract, this Deed of Trust and any other instrument that may be securing said Contract.
<br />WASTE. The Grantor(s) covenants to keep the premises herein conveyed in as good order, repair and condition
<br />as they are now, reasonable wear and tear excepted, and not to commit or permit any waste.
<br />TRANSFER OF THE PROPERTY: DUE ON SALE. Any person to whom the Grantor(s) sells or transfers all
<br />or part of the land or any rights in the land, transfers the land may take over the Grantor(s)'s rights and
<br />obligations under this Deed of Trust (known as an "assumption of the Deed of Trust") if certain conditions arc met.
<br />Those conditions are:
<br />(A) Grantor(s) gives Beneficiary notice of sale or transfer;
<br />(B) Beneficiary agrees that the person qualifies under its then usual credit criteria;
<br />(C) The person agrees to pay interest on the amount owed to Beneficiary under the Contract and under
<br />this Deed of Trust at whatever rate Beneficiary requires; and
<br />(D) The person signs an assumption agreement that is acceptable to Beneficiary and that obligates the
<br />person to keep all of the promises and agreements made in the Contract and in this Deed of Trust.
<br />If the Grantor(s) sells or transfers the land and the conditions in A, B, C & D above are not satisfied, Beneficiary
<br />may require immediate payment in full of the Contract, foreclose on the Deed of Trust and seek any other remedy
<br />allowed by law. However, Beneficiary will not have the right to require immediate payment in full or any other
<br />legal remedy as a result of certain transfers. Those transfers are:
<br />(A) The creation of liens or other claims against the land that are inferior to this Deed of Trust, such as
<br />other Deeds of Trust, materialman's liens, etc.;
<br />(B) A transfer of rights in household appliances to a person who provides the Grantor(s) with the money
<br />buy these appliances in order to protect that person against possible losses;
<br />(C) A transfer of the land to surviving cOMowners, following the death of a co-owner, when the transfer is
<br />automatic according to law; and
<br />(D) Leasing the land for a term of three years or less provided the lease does not include an option to buy.
<br />WARRANTIES. Grantor(s) covenants with Trustee and Beneficiary that he is seized of the premises in fee
<br />simple, has the right to convey the same in fee simple, that title is marketable and free and clear of encumbrances,
<br />and that he will warrant and defend the title against the lawful claims of all persons whomsoever, except for the
<br />exceptions of record on the date hereof.
<br />SUBSTITUTION OF TRUSTEE. Grantor(s) and Trustee covenant and agree to and with Beneficiary that in
<br />case the said Trustee or any successor Trustee shall die, become incapable of acting, renounce his trust, or for other
<br />similar or dissimilar reason become unacceptable to the holder of the Contract, then the holder of the Contract may
<br />appoint, in writing, a successor Trustee; and upon the probate and registration of the same, the successor Trustee
<br />thus appointed shall succeed to all the rights, powers and duties of the Trustee. ~ ft ,/
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<br />Grantor(s) Initial;fp _
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<br />Form RTL 3146 NEDOT 6-29-2004
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