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85Ld J001828
<br />FOR THE PURPOSE OF SECURING:
<br />(a) The payment of indebtedness evidenced by Trustor's note of even date herewith in the Principal sum of
<br />Fifty Six Th.e 4 Five Hundred and no /100
<br />(x_56 �OO.OD Dollars
<br />), together with interest at the rate or rates provided therein, (herein, together
<br />with any and all renewals, modifications, and extensions thereof, referred to as the "Note") both principal and
<br />interest on the Note being payable in accordance with the terms set forth therein, reference to which is hereby
<br />made, the final payment of principal and interest, if not sooner paid and if no renewals, modifications or extensions
<br />are made, due and payable on September 25 1985
<br />(b) The performance of each agreement and covenant of Trustor herein contained; and
<br />(c) The payment of any sum or sums of money with interest thereon which may be hereafter paid or advanced
<br />under the terms of this Trust Deed.
<br />TO PROTECT THE SECURITY OF THIS TRUST DEED, TRUSTUR HEREBY COVENANTS ANU
<br />AGREES AS FOLLOWS:
<br />1. Payment of Principal and Interesr Trustor shall rpm tl
<br />P A y Pay when due the Principal of and interest
<br />on the indebtedness evidenced by the Note, and all other charges and fees as provided in the Note, and the principal
<br />of and interest on any Future Advances secured by this Trust Deed.
<br />2. Warranty of Title. Trustor is lawfully seized and possessed of good and indefeasible title and estate
<br />to the Property hereby conveyed and has the right to grant and corwey the Property; the Property is free and clear
<br />of all liens and encumbrances except liens now of record; and Trustor will warrant and defend the title to the
<br />Property against all claims and de_r;ands.
<br />3. Maintenance and Compliance With Laws. Trustor shall keep the Property in good repair and condition
<br />and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the pro -
<br />visions of any lease if this Trust Deed is on a leasehold. No improvement now or hereafter erected upon the Property
<br />shall be altered, removed or demolished without the prior written consent of Beneficiary. Trustor shall comply with
<br />all laws, ordinances, regulations, covenants, conditions and restrictions affecting the Property and not commit, suffer
<br />or permit any act to be done in or upon the Property in violation of any law, ordinance, regulation, covenant, con-
<br />dition or restriction. Trustor shall complete or restore promptly and in good workmanlike manner any improvement
<br />on the Property which may be damaged or destroyed and pay, when due, all claims for labor performed and ma-
<br />terials furnished therefore and for any alterations thereof.
<br />4. Insurance. 1 rustor, at its expense, will maintain with insurors approved by Beneficiary, insurance with
<br />respect to the Improvements and personal property, constituting the Property, against loss by fire, lightning, tor-
<br />nado, and other perils and hazards covered by standard extended coverage endorsement, in an amount equal to at
<br />least one hundred percent of the full replacement value thereof and insurance against such other hazards and in such
<br />amounts as is customarily carried by owners and operators of similar properties or as Beneficiary may require for its
<br />Protection. Trustor will comply with such other requirements as Beneficiary may from time to time request for the
<br />protection by insurance of the interests of the respective parties. All insurance Policies maintained pursuant to this
<br />Trust Dead shall name Trustor and Beneficiary as insureds, as their respective interests may appear, and provide
<br />that there shall be no cancellation or modification without no less than 15 days Prior written notification to Trustee
<br />and Beneficiary. In the event any policy hereunder is not renewed on or before 15 days prior to its expiration date,
<br />Trustee or Beneficiary may procure such insurance in accordance with the provisions of paragraph 7 hereof. Trustor
<br />shall deliver to Beneficiary the original policies of insurance and renewals thereof or memo copies of such policies
<br />and renewals thereof. Failure to furnish such insurance by Trustor, or renewals as required hereunder shall, at the
<br />option of Beneficiary, constitute a default.
<br />5. Taxes, Assessments and Charges Trustor shall Pay all taxes, assessments and other charges, including,
<br />without limitation, fines and impositions attributable to the Property, and leasehold payments or ground rents, if
<br />any, before the same become delinquent. Trustor shall promptly furnish to Beneficiary all notices of amounts due
<br />under this paragraph, and in the event Trustor shall make payment directly, Trustor shall promptly furnish to
<br />Beneficiary receipts evidencing such payments. Trustor shall pay all taxes and assessments which may be levied upon
<br />Beneficiary's interest herein or upon this Trust Deed without regard to any law that may be enacted imposing
<br />Payment of the whole or any part thereof upon the Beneficiary
<br />B. Additional Liens and Protection of Ben_ eficiary's Severity. Trustor shall make all payments of interest
<br />and principal and payments of any other charges, fees and expenses contracted to be paid to any existing lien
<br />holders or prior beneficiaries under any prior deed of trust or mortgage before the date they are delinquent and
<br />Promptly pay and discharge any and all other liens, claims or charges which may jeopardize the security granted
<br />herein. 11 Trustor fails to make any such payment or fails to perform any of the covenants and agreements con -
<br />tained in this Trust Deed, or in any prior mortgage or deed of trust, or if any action or Proceeding is commenced
<br />which materially affects Beneficiary's interest in the Property. including, but not limited to, eminent domain pro-
<br />ceedings, or proceedings involving a decedent, or if Trustor fails to Pay Trustor's debts generally as they become due,
<br />then Beneficiary, at Beneficiar `s option and
<br />y P without notice to or demand upon Trustor and without releasing
<br />Trustor from any obligation hereunder, may make such appearances, disburse such sums and take such action as is k
<br />r '*CasSary to protect Beneficiary's interest, Including, taut not limited to, disbursement of reasonable attorneys lass, l
<br />Payment, purchase, contest or compromise of r`
<br />any Pncetmbrance, charge or lien, and entry upon the Property to j[g di
<br />rnake repairs, to the event that Trustof shall fail to ptocure ,nsufance or to pay taxes, assessments, or anV other "•r4
<br />fie 3 R4
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