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87100603
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87100603
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Last modified
10/19/2011 12:20:51 AM
Creation date
3/27/2008 1:54:46 PM
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DEEDS
Inst Number
87100603
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1, 2'i 8Z /8C <br />87_.... 100603 <br />(i) All of its right, title, interest or claim, if any, in <br />and to the proceeds of all policies of insurance covering the mortgaged <br />premises for application upon the indebtedness Secured by or other <br />disposition thereof in accordance with the provisions, of the Coldome Deed <br />of Trust; and <br />Oil Ali of its right,, title and interest or claim, if any, <br />in and to all awards or other compensation made for any taming of any <br />part of the mortgaged premises to be applied capon the indebtedness by <br />or disposed of in accordance with the provisions of the Gotdome Deed of <br />Trust; <br />In the event that following any such application and disposition of the <br />insurance proceeds and condemnation award and other compensation, any <br />- <br />- -. balance remains. then such excess shall be "made payable to - the joint . <br />' <br />order of the holder of the Second Mortgage and the then owner of the <br />real estate 'therein described. <br />(e) That if the legal holder of the t,ofif+ome need of Trust <br />shall at any time release to the srustor thereunder any such insurance <br />proceeds or condemnation award for the purposes of restoration of the <br />mortgaged premises, such releases shaft not be deemed to be an <br />additional advance under- the Gore Deed of "'rust,; nor saran it <br />- - <br />-- otherwise- be deemed to be in violation of an'#' restriction of the within <br />_ <br />Deed of Trust upon the amount peraarittet7 to ibe secured by the Goldome <br />. <br />Deed of Trust and to which the Second 101ortgage =s subordirate. <br />.. <br />if`l That the .Second Mores and the liev thereof shan be, <br />and the same are hereby" arcade and Shaft continue, subject and <br />subordinate to any and all. Wises ups all or any part of the m1rtgaqed <br />-. <br />Premises to which the t of the� Deed of Trust she#! now be - <br />l: <br />or shall hereafter have been evade, subject and Subordinate- <br />That, so for g as the Galldlome, Deed of Trust shall remain <br />4 <br />upon the mortgaged premises or any part the f, ttue 1� of the <br />Second Mortgage, its Successors or asstqtts or any other fe -dal_ holder - - <br />. <br />hereof shall <br />ri <br />tin execute. acknowledge and waver, caper; demand, at <br />` <br />any time or tines, any and all further sub ordinations or other <br />.. instruments in reco rdab4e foa-= reasonably sufficient -to,- that purpose or, - - -: <br />.Ai <br />that the Beneficiary, its successors or assigns, cir other- legal holder of <br />the Cotdome Deed. of ?rust, may hereafter reasonably, require for <br />c tart the true purpose and intent of the foregoing covenants- <br />and <br />l;il conterq>oraneously send to CoOldome a copy of any <br />notice of default served upon. the mortgagor . of the Sec nd " 5tortgare. <br />23 . Remedies: No remedy herein provided shall be exclusive of <br />. <br />any -other remedy herein or now or - hereafter exist ing by - law; tXYB shall - <br />be . cummuiative. Every power or remedy hereby given to Trustee or <br />Beneficiary, or to which either o€ them may be 'etherwise entitled, <br />may <br />be exercised from time to time and as often as may be deemed expedient a <br />
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