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104404Iz
<br />FIRE, CASUALTY, AND OTHER INSURANCE: To keep such property insured against toss or damage by fire and other risk
<br />of insurance with loss payable to
<br />or risks which, in the sole opinion of Beneficiary should be insured against, under policies
<br />companies acceptable to Beneficiary. Said policies shall be delivered to and remain in poises-
<br />Beneficiary in form. amount and
<br />Sion of Beneficiary as further securi ty for the faithful performance of these obligations, which delivery shall constitute an
<br />to deliver to Beneficiary a policy
<br />assignment by Trustor to Beneficiary of all rights thereunder, including all return premiums;
<br />expiring insurance with a receipt showing premiums paid at least thirty ISO) days before
<br />or policies renewing or extending any
<br />expiration. If Trustor fails to so deliver any renewal policies, Beneficiary may procure such insurance as it may elect and may
<br />demand. Neither Trustee nor Beneficiary shall be resixin-
<br />make payment of premiums thereon, which payment is repayable on
<br />sible for obtaining or maintaining such insurance. Beneficiary, from time to time, may furnish to any insurance agency or
<br />from any insurance policy theretofore delivered to
<br />company, or any other person, any information contained in or extracted
<br />the loan secured hereby. In no event and whether or not default
<br />Beneficiary pursuant hereto, and any information concerning
<br />Beneficiary, by the fact of approving, accepting or obtaining such insurance, incur any liability
<br />hereunder has occurred shall
<br />for the amount of such insurance, the form or legal sufficiency of insurance contracts, solvency of insurers, or payment of
<br />and liability, if any, thereunder. In the
<br />losses by insurers, and Trustor hereby expressly assumes full responsibility therefore
<br />immediate written notice to Beneficiary, and Beneficiary may, but is not obligated to, make
<br />event of loss, Trustor shall give
<br />proof of loss if not made promptly by Trustor. In case of any loss the amount collected under any policy of insurance on such
<br />Beneficiary upon any indebtedness and.'ar obligation secured
<br />property may, at the option of the Beneficiary, be applied by
<br />as Beneficiary may determine; or said amount or any portion thereof may, at the option
<br />hereby and in such order and amount
<br />of the Beneficiary, either be used in replacing or restoring the improvements partially or totally destroyed to x condition satis-
<br />be to the Trustor. In any such event neither the
<br />factory to said Beneficiary, or said amount or any portion thereof may released
<br />Trustee nor the Beneficiary shall be obligated to see to the proper application thereof; nor shall the amount so released or used
<br />be deemed a payment on any indebtedness secured hereby. Such application, use and release shall not cure or waive any
<br />default hereunder or invalidate any act done pursuant to such notice. Any unexpired insurance and all re-
<br />default or notice of
<br />turnable insurance premiums shall insure to the benefit of, and pass to, the purchaser of the property covered thereby at any
<br />herein or pursuant to any decree
<br />Trustee's sale held hereunder. If said property is sold pursuant to the power of sale contained
<br />title interest of Trustor in and to the proceeds of fire and other insurance policies for damage prior
<br />of foreclosure, all right, and
<br />to the sale, which proceeds are not received prior to the date of said sale, shall belong to Beneficiary. Trustor will comply with
<br />from time to time for the protec-
<br />such other requirements and provide such other type of insurance as Beneficiary may require
<br />tion by insurance of the interest of the respective parties hereto.
<br />TAXES AND OTHER SUMS DUE: To pay, satisfy and discharge, at least to ten (10) days before delinquency all general and
<br />later than the date such amounts become due and to
<br />special taxes and assessments and other public: charges, and in no event
<br />(1) all encumbrances, charges and liens, with interest, on such property, or any part thereof,
<br />further pay when due or requested:
<br />which are, or appear to beneficiary, in its sole discretion, to he prior to or superior hereto, (2) all costs, fees and expenses of this
<br />the obligation secured hereby in any
<br />trust, whether or not described herein, (3) fees or charges for any statement regarding
<br />demanded by Beneficiary, not to exceed the maximum amount allowed by law therefor at the time when such request
<br />amount
<br />is made, (4) such other charges as the Beneficiary may deem reasonable for services rendered by Beneficiary and furnished at
<br />if includes a leasehold estate, all payments and
<br />the request of Trustor or any successor in interest to Trustor, 45) such property
<br />the terms of the instrument or instruments creating such
<br />obligations required of the Trustor or his successor in interest under
<br />obligations required of the owner of such property under any declaration of cove-
<br />leasehold, (6) all payments and monetary
<br />nants, conditions and restrictions pertaining to such property or any mofifcation thereof; (7) all mortgage insurance or
<br />to such Trustor agrees to notify Beneficiary immedi-
<br />guaranty fees, premiums, or charges of any nature pertaining property.
<br />ately upon receipt by Trustor of notice of any increase in the assessed value of such property and agrees that Beneficiary, in the
<br />name of Trustor, finny contest by appropriate proceedings such increase in assessment.
<br />R
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<br />In the event of the passage of any law deducting from the value of real property for the purposes of taxation any lien thereon
<br />debts by deeds of trust for state or local purposes, or
<br />or changing in any way the laws for the taxation of deeds of trust or secured
<br />the of any such taxes, so as to affect this Deed of Trust, the holder of this Deed of Trust and of the obli-
<br />the manner of collection
<br />gations which it secures shall have the right to declare all sums secured tierehy due as of a date to be specified by not less than
<br />however, that such election shall be ineffective ifTrust-
<br />30 days' written notice to be given to Trustor by Beneficiary; provided,
<br />by law to the whole of such tax in addition to all other payments required hereunder and if, pri or to such
<br />or is permitted pay
<br />specified date, does pay such tax and agrees to pay any such tax when hereafter levied or assessed against such property, and
<br />such agreement shall constitute a modification of this Deed of Trust.
<br />FUNDS FOR TAXES AND INSURANCE: If Beneficiary shall so request, Trustor agrees that there shall be added to the
<br />by Trustee to he sufficient to enable Trustorto pay, at
<br />periodical payment required to be made hereunder an amount estimated
<br />least thirty (30) days before delinquency, all general and special taxes, assessments, or other public charges against such prop-
<br />erty, the Promissory Note, or upon or on account of the debt or the lien of this Deed of Trust, together with premiums for insur.
<br />this Deed of Trust and all mortgage insurance or guaranty fees, premiums or similar charges
<br />ance required to be provided under
<br />be to Trustor in respect thereof. Upon demand by Trustee, Trustor shall deliver to Trustee such
<br />and no interest shall payable
<br />additional sums of money as are necessary to make up arty deficiency in the amounts necessary to enableTrustee to pay any of
<br />the foregoing items.
<br />SUMS ADVANCED TO BEAR INTEREST: To pay immediately upon demand any sums advances or paid by Beneficiary
<br />until so repaid, shall be secured hereby and bear
<br />or Trustee under any clause or provision of this Deed of Trust. Any such sums,
<br />forth in Promissory Note and Shull he secured by this Deed
<br />interest from the date advanced or paid at the same rate as set such
<br />of Trust.
<br />ASSIGNMENT OF DEPOSITS: That as additional security if this be a construction loan, Trustor hereby transfers and
<br />title and interest to any and all monies deposited by Trust
<br />aesigne to Beneficiary during continuance of these Trusts, all right,
<br />deposited on behalf of Trustor with any city, county, public body or agency, sanitary district, gas and. or electric com-
<br />by
<br />or or
<br />pany, telephone company and any other body or agency, for the installation or to secure the installation of any utility
<br />Trustor, pertaining to this property.
<br />FAILURE OFTRUSTOR TO COMPLY WITH DEED OF TRUST: In the event Trustor should fail to make any payment, or
<br />in this Deed of Trust, or fail to perform any obligation secured by this Deed of Trust, or do any act
<br />to do any act as provided
<br />Trustor agreed not to do. Beneficiary, but without obligation so to do and without notice to or demand upon Trustor and with
<br />the validity or amount of the same, may tat pay, make
<br />p'
<br />out releasing'rrusWr from any obligation hereof and without contesting
<br />or do the same in such manner and to such extent as it muy deem necessary to protect the security hereof, Beneficiary being
<br />authorized to enter upon such property fur such purposes, and Ihi pay, purchase, contest or compromise any encumbran,
<br />ben, which in its iudgeare nt is or appears to be prior or superior hereto, and ic) to exerc is mg any ", h power, Pa o,x
<br />charge or
<br />cswnry coats. (sea. and expenses, employ counsel and pay` counsel's reasonable fees. Trustor agrees to repay any amount s..
<br />expended on demand of Hrnetician•
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