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105L -3 7 (a) The payment of Trustees just Indebtedness to Beneficiary In the principal sum of Three flundrad 1WQQL ThOu6wp nd no. (1 Op-- __—_ -- DoNare lS 320.000.00 j for money borrowed, with Interest thereon, all as evidence by and in strict accordance with the terms of that certain promissory note, hereinafter called the "Note ", bearing even date herewith made payable to the order of Beneficiaryi executed by and providing forther payintsittof said Indebtedness In Installments, the lost of which Is due and payable Felar(Ia ry x..1.2$% subject to acceleration of maturity on default in the payment of any Installment of principal or Interest or In the performance of any covenant, agreement or warranty contained In the Deed of Trust (b) The performance of each agreement covenant and warranty of Trustor herein contained or set forth in the Note or any agreement or instrument executed by Trustor in connection with the indebtedness hereby secured; and (c) The payment of any sum or sums of money with interest thereon which may be hereafter paid or advanced under the forms of this Deed of Trust NOW, THEREFORE, TO PROTECT THE SECURITY OF THIS DEED OR TRUST, Trustor does for himself and for Trustors heirs, representatives, vendees, successors and assigns, the owners of said Property. hereby expressly covenant agree and warrant to and with the Trustee and Bene• ficiary, and their successors, vendees and assigns: FIRST: That the Trustor hereby covenants and agrees, to the extent permitted by law, as follows; (a) to pay promptly when due the principal and interests and other sums of money provided for in the Note and in this Deed of Trust; (b) to promptly pay before delinquency all taxes, assess- ments and other charges imposed by law, upon the Property, the Trustors interest therein, or upon this Deed of Trust or the Note; provided, however, that in the event of any change of the law providing for the taxation of deeds of trust or debts thereby secured so as to affect this Deed of Trust the entire indebtedness secured hereby shall at the option of the Beneficiary become due and payable; (c) to keep the above - described Property and the Improvements thereon in good condition and repair and not to commit or suffer waste thereof, and except as authorized in any schedule annexed hereto and forming apart hereof, neither to remove nor permit the removal of any timber, buildings, oil, gas, minerals, stone, rock clay, fertilizer, gravel or top soil without the prior written consent of Beneficiary, (d) to maintain and deliver to Beneficiary policies of insurance against such hazards on the buildings and improvements now or hereafter located on or constituting a part of the Property as the Beneficiary shall require, in such companies and amounts and with such loss payable clauses as shall be satisfactory to the Beneficiary, that in the event of loss, Beneficiary is expressly authorized to settle or compromise claims under said policies and the proceeds thereof shall be paid to the Beneficiary who may apply the same or any part thereof on the indebtedness secured hereby or toward the reconstruction or repair of said buildings and improvements or release same to the Trustor, (e) To pay any lien, claim or charge against the Property which might take precedence over the lien hereof; (1) to pay on demand all legal expenses, title searches, appraisal or attorneys' fees reasonably incurred or paid by Bene- ficiary to collect the Note or foreclose or protect the lien of the Deed of Trust; (g) That in the event Trustor shall fail to comply with the provisions of (a) through (f) above, the Beneficiary may expend such funds and take such action as is necessary to remedy such failure and all sums paid by the Beneficiary pursuant hereto with interest at the rate hereinafter provided shall constitute a lien upon the Property, shall be secured by this Deed of Trust and shall be immediately due and repayable to the Beneficiary, (h) not to sell the property or any portion thereof; or,if the Trustor is a corporation, not more than -- % of its corporate stock shall be sold, traded, or disposed of to persons other than the present owners of such stock prior to the time the indebtedness secured hereby shall have been reduced (exclusive of prepayments other than as pro- vided in the said Note) to $ —n— ; and in the event of any sale herein prohibited, then the entire indebtedness secured by the Deed of Trust shall, at the option of the Beneficiary become due and payable; (i) that if the Property or any part or parcel thereof shall be taken or damaged under the power of eminent domain, the award for any Property so taken or damaged (including severance damages to the re- maining premises) shall be paid to the Beneficiary and applied in full or in part at the option of the Beneficiary in reduction of the indebtedness hereby secured; () that the Beneficiary shall have the right to inspect the Property at such reasonable times as the Beneficiary may desire to determine Trustors compliance with the covenants contained in this Deed of Trust; (k) that the Beneficiary may release from the lien hereof any part or parcel of the Property without requiring any consideration therefor, and (1) that Trustor is lawfully seized of said premises and Property in fee simple, that the swine are free from all liens and encumbrances except as may otherwise be specifically noted herein or waived in writing by the Beneficiary, that Trustor will execute or procure any further necessary assurances of title and does hereby warrant generally the title to said Property and will forever defend the same against the claims and demands of all persons whomsoever, and that Trustors separate estate whether vested, contingent or in expectancy, is hereby conveyed and Trustor does hereby expressly waive, release all rights and benefits of any homestad dower, courtesy, appraisement exemption and stay laws of this state. It is agreed that the interest provided for in subsection (g) above shall be at the some rate as specified in the Note secured hereby on the principal thereof after default and maturity. SECOND: In the event Trustor, without the prior written consent of Beneficiary shall sell, transfer or convey or contract to sell, transfer or convey the property, or any part thereof or any interest therein, the entire balance of the indebtedness hereby secured shall become and be im- mediately due and payable at the option of Beneficiary, provided, however, Beneficiary may waive such option to accelerate if, prior to such sale, transfer or conveyance or contract therefor, Beneficiary and the person to whom the property is to be sold or transferred reach an agreement in writing that the credit of such person Is satisfactory to Beneficiary and that the interest payable on the sums secured by this Deed of Trust shall be at such rate as Beneficiary shall request THIRD: That as further security for the payment of the Note and the indebtedness thereby evidence and the performance of all of the terms. covenan sand conditions hereof. Trustor agrees that Beneficiary shall and does hereby have the right power and authority during the con- tinuance of this Deed of Trust to collect the rents Issues and profits of the Property and of any personal property located thereon with or without taking possession of the property affected thereby, and Trustor hereby absolutely and unconditionally assigns all such rents, issues and profits to Beneficiary. Beneliciary, however, hereby consents to Trustors collection and retention of such rents issues and profits as they accrue and become payable so long as Trustor is not at such time In default with respect to payment of any indebtedness secured hereby or in the perfor- mance of any agreement hereunder Upon any such default, Beneficiary may at any time, either In person, by agent or by receiver to be appointed by a court, without notice and without regard to the adequacy of any security for the indebtedness hereby secured (a) enter upon and take possession of the Property or any part thereof and In Its own name sue for or otherwise collect such rents issues and profits including those past due and unpaid, and apply the same. less costs, and expense of operation and collection, including reasonable attorneys fees, upon any Indebtedness secured hereby and in such order as Beneficiary may determine; Ib) lease the same or any part thereof for such rental, term and upon such con ditions as Benebciarys judgment may dictate or terminate or adjust the terms and conditions of any existing lease or leases. Unless Trustor and Beneficiary agree otherwise in writing, any application of rents, issues or profits to any indebtedness secured hereby shall not extend or postpone the due date of the installment payments as provided in the Note or change the amount of such installments. The entering upon and taking possession Of the Property, the collection of such rents, issues and profits, and the application thereof as aforesaid. shall not waive or cure any default or notice of default hereunder, or Invalidate any act done pursuant to such notice. Trustor assigns to Beneficiary, as further security for the performance of the indebtedness and obligations secured hereby. all prepzid rents and all moneys which may have been or may hereafter be deposited with Trustor by any lessee of the Property, to secure the payment of any rent or damages and upon default In the performance of any of the provisions hereof, Trustor agrees to deliver such rents and deposits to Beneficiary. Delivery of written notice of Beneficiary's exercise of the rights granted by this paragraph third to any tenant occupying the Property or any portion thereof shall be sufficient to require said tenant to pay said rent 10 Beneficiary until further notice FOURTH: If there shall be filed by or against the Trustor any petition or proceeding seeking an arrangement or composition or extension or any other relief under or pursuant to the Federal Bankruptcy Code or any other similar statute as now or hereafter in effect or if the Ifustor shall be adjudicated bankrupt or insolvent or any of Trustors property shall have been sequestered and such decree shall have continued un- discharged and unstayed for 90 days after the entry thereof. then the whole of the Note and Indebtedness hereby secured shall, without notice . at the option of the Beneficiary, become due and payable. FfFTH Upon default by Trustor In the payment of or performance of the terms and conditions of the Note, or any revlewals rnoddlcahons or executions thereof, the payment of any other Indebtedness secured hereby or In the performance of any agreement, covenant or warranty herein contained of set forth in any agreement of instrument executed by Ttustor In connection with the Indebtedness hereby secure, Bel eficiaay may declare all sums secured hereby immediately due and payable and the same shall thereupon become due and payable without res n meat demand, protest or notice of any kind Thereafter. Benehclzry may deliver to Truslee a written declaration of default and dernano for sale Tr.rslrrn shaft have the power of sale of the Property and it Beneficiary decides the Property Is to he sold It shall deposit with Truslee thee (teed of Trust and the Note or notes and any other documents evidencing expend1l UfeS secured hereby. and shall deliver to Trustee a written o(,+ of delaWl and etftcltoe to cause the Property to be sold. and Trustee, In turn, shall prepare a similar notice In the form required by law. Wh4'Ih shill he du'.y hied for recofff by Trustoe, in turn shall prepare a S1mdat 1101iGe in the lorm required by law, which shall be duly Ided for Ir. rend by T rustvf! tai Alter the talrse of such !e 1. aR rnny Pe wquued try taw fallowul(j !ht+ rPoCOrdnt (:n 'A N,)N " of lielai,ll d ,l nl Crofauli ;ra` Noll, , <_,f Rule hill.nq t(—n "jiyert 9k reflurreil by i:gw_ Tffl $1(?e. witht,t:l t1l 11jjtl(i r.,n Thi'rtn, %h:111 the f rl){)elly h, -,e I�r�l, �,i ,1,..., , anr,1 Pv.ry ;m ,t n sopa,ate r,vf" ids «r ♦ ....J% e as th" 1"'stee may 01`t.l ;rr.,1 ,t , r[ h or.l1`r a!: Tl •tr, ,I f,•ir'r ,r, •. , Ah'I a1 i., firv,r• 4 Blot, ..aid N rt,t f' tai "Al" it C ":2,trr -1.rr , I�, -,E