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85001731
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Last modified
10/17/2011 6:08:29 PM
Creation date
4/1/2008 4:08:32 PM
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DEEDS
Inst Number
85001731
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35 001731 <br />constituting a part of the Property as the Beneficiary shall <br />require, in such companies and amounts and with such loss payable <br />clauses as shall be satisfactory to the Beneficiary; that in the <br />event of loss, Beneficiary is expressly authorized to settle or <br />compromise claims under said policies and the Proceeds shall be paid to the Beneficiar thereof <br />y who may apply the same or any <br />part thereof on the indebtedness secured hereby of toward the <br />reconstruction or repair of said buildings and improvements or <br />release same to the Trustor; (e) to pay any lien, claim or charge <br />against the Property which might take precedence over the lien <br />hereof; (f) to pay on demand all legal expenses, title searches, <br />appraisal or attorneys' fees reasonably incurred or <br />Beneficiary to collect the Note or se or protect the lien <br />paid by <br />foreclo <br />of this Deed of Trust; (g) that in the event Trustor shall <br />to comply with the provisions of (a) through (f) above, the <br />fa i l <br />Beneficiary may expend such funds and take such action as is <br />necessary to remedy such failure and all sums paid by the <br />Beneficiary pursuant hereto with inter,:st at the rate hereinafter <br />provided shall constitute a lien upon the Property, shall be <br />secured by this Deed of Trust, and shall be immediately due and <br />repayable to the Beneficiary; (h) not to sell the Property or any <br />Portion thereof; or, if. the Trustor is a corporation, not more <br />than -o- of its corporate stock shall be sold, traded, or <br />disposed cf to persons other than, the present owners of such <br />stock prior to the time the indebtedness secured hereby shall <br />have been reduced (exclusive of prepayments other <br />provided in the said Note) to S _o_ than as <br />of any sale herein prohibited t % and in the event <br />secured b}• this Deed of Trust }.en the entire indebtedness <br />Beneficiary, become due and payable; }'all, at the option of the <br />any part or parcel thereof hal l be (taken or yda aged Property the <br />power of eminent domain, the award for any Property so taken or <br />damaged (including severance damages to the remaining premises) <br />shall be paid to the Beneficiary and applied in full or in part <br />at the option of the Beneficiary in reduction of the indebtedness <br />hereby secured; (j) that the Beneficiary shall c have the right to <br />inspect the Property at such reaZnable times as the Beneficiary <br />may desire to determine Trustor's compliance with the <br />contained in this Deed of just cwenai,ts (k) that the Beneficiary may <br />release from the lien hereo, a.y part or <br />requiring parcel of the Property <br />without re <br />q 9 any cor,.- .ids- r•_tion therefor, and (1) that <br />Trustor is lawfully seized of said premises and Property in fee <br />simple, that the same are fret from all liens and :1culld- rances <br />except as may otherwise be specifically noted herein or waived in <br />writing by the Beneficiary that Trustor will execute or procure <br />any further necessary assurances cf title and does hereby warrant <br />title to said Property and will <br />generally the ti forever defend the <br />same against the claims and demar.ds of all persons w:;or,,soever, <br />and that Trustor's separate estate, whether vested, cor,tingcr.t or <br />in expectancy, is hereby cor,ve; ea and Trustor roes t,nt ` f <br />expressly waive, release all <br />homestead, dower, curtesy, a rights and benefits of any <br />of this state. It is agreed , a ppraisement, exemption and stay laws <br />subsection t }tat the interest provided for in <br />(g) above shall be at the same rate as speci:ied in <br />Page 4 Lf 12 <br />
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