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g6-- 105442
<br />FIRST: That the Trustor hereby covenants and agrees, to the extent
<br />permitte& -by law, as follows: (a) to pay promptly when due the principal
<br />and 'interest and other sums of money provided for in the Note and in this
<br />Deed of Trust; (b) to promptly pay before delinquency all taxes, assess-
<br />ments and other charges imposed by law upon the Property, the Trustor's
<br />interest therein, or upon this Deed of Trust or the Note; provided, how-
<br />ever, that in the event of any change of the law providing for the taxation
<br />of deeds of trust or debts thereby secured so as to affect this Deed of
<br />Trust, the entire indebtedness secured hereby shall at the option of the
<br />Beneficiary become due and payable; (c) to keep the above - described
<br />Property and the improvements thereon in good condition and repair and not
<br />to commit or suffer waste thereof; (d) to maintain and deliver to Benefi-
<br />ciary policies of insurance against such hazards on the buildings and
<br />improvements now or hereafter located on or constituting a part of the
<br />Property as the Beneficiary shall require, in such companies and amounts
<br />and with such loss payable clauses as shall be satisfactory to the Benefi-
<br />ciary; that in the event of loss, Beneficiary is expressly authorized to
<br />settle or compromise claims under said policies and the proceeds thereof
<br />shall be paid to the Beneficiary who may apply the same or any part thereof
<br />on the indebtedness secured hereby or toward the reconstruction or repair
<br />of said buildings and improvements or release same to the Trustor; (e) to
<br />pay any lien, claim or charge against the Property which might take prece-
<br />dence over the lien hereof; (f) to pav on demand all legal expenses, title
<br />searches, appraisal or attorneys' fees reasonably incurred or paid by
<br />Beneficiary to collect the Note or foreclose or protect the lien of this
<br />Deed of Trust; (g) that in the event Trustor shall fail to comply with the
<br />provisions of (a) through (f) above, the Beneficiary may expend such funds
<br />and take such action as is necessary to remedy such failure and all sums
<br />paid by the Beneficiary pursuant hereto with interest at the rate herein-
<br />after provided shall constitute a lien upon the Property, shall be secured
<br />by this Deed of Trust, and shall be immediately due and repayable to the
<br />Beneficiary; (h) not to sell the Property or any portion thereof; and in
<br />the event of any sale herein prohibited, then the entire indebtedness
<br />secured by this Deed of Trust shall, at the option of the Beneficiary,
<br />become due and payable; (i) that if the Property or any part or parcel
<br />thereof shall be taken or damaged under the power of eminent domain, the
<br />award for any Property so taken or damaged (including severance damages to
<br />the remaining premises) shall be paid to the Beneficiary and applied in
<br />full or in part at the option of the Beneficiary in reduction of the
<br />indebtedness hereby secured; (j) that the Beneficiary shall have the right
<br />to inspect the Property at such reasonable times as the Beneficiary may
<br />desire to determine Trustor's compliance with the covenants contained in
<br />this Deed of Trust; (k) that the Beneficiary may release from the lien
<br />hereof any part or parcel of the Property without requiring any consid-
<br />eration therefor, and (1) that Trustor is lawfully seized of said premises
<br />and Property in fee simple, that the same are free from all liens and
<br />encumbrances except as may otherwise be specifically noted herein or waived
<br />in writing by the Beneficiary; that Trustor will execute or procure any
<br />further necessary assurances of title and does hereby warrant generally the
<br />title to said Property and will forever defend the same against the claims
<br />and demands of all persons whomsoever, and that Trustor's separate estate,
<br />whether vested, contingent of in expectancy, is hereby conveyed and Trustor
<br />does hereby expressly waive, release all rights and benefits of any home-
<br />stead, dower, curtesy, appraisement, exemption and stay laws of this state.
<br />it is agreed that the interest provided for in subsection (g) above shall
<br />be at the same rate as specified in the Note secured hereby on the princi-
<br />pal thereof after default and maturity.
<br />SECOND: In the event Trustor, without the prior written consent of
<br />Beneficiary shall sell, transfer or convey or contract to sell, transfer or
<br />convey the Property, or any part thereof or any interest therein, the
<br />entire balance of the indebtedness hereby secured shall become and be
<br />immediately due and payable at the option of Beneficiary; provided, how -
<br />ever, Beneficiary may waive such option to accelerate if, prior to such
<br />sale, transfer or conveyance or contract therefor, Beneficiary and the
<br />person to whom the property is to be sold or transferred reach an agreement
<br />in writing that the credit of such person is satisfactory to Beneficiary
<br />and that the intcrr:st payable on the sums secured by this Deed of Trust
<br />shall be at rsuch rate as Seri efici:ary sl'ial: request.
<br />T11IRD: Thaat: acs :,, rther sccur±ty tor t'te, payment n% he Not c th(i ! lee
<br />s Ivik-b' edr,b at t, h j, t r=h•y' ov.i ci d cm "I t hn per tornlial,(*,, "f . , . a, t t ;,.t- r
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