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200805760
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Last modified
7/3/2008 4:20:16 PM
Creation date
7/3/2008 4:20:15 PM
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DEEDS
Inst Number
200805760
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<br />200805760 <br /> <br />event anyone or more or the provisions contained in this Deed of Trust, or the Note or any <br />other security instrument given in connection with the indebtedness hereby secured shall for <br />any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, <br />illegality, or unenforceability shall at the option of the Beneficiary not effect any other provision <br />of the Deed of Trust, but this Deed of Trust shall be construed as if such invalid, illegal or <br />unenforceable provision had never been contained herein or therein. If the lien of this Deed of <br />Trust is invalid or unenforceable as to any part of the indebtedness hereby secured or <br />evidenced by the Note, or if the lien is invalid or unenforceable as to any part of the Property, <br />the unsecured or partially secured portion of such indebtedness shall be completely paid prior to <br />the payment of the remaining and secured or partially secured portion of such indebtedness, <br />and all payments made on such indebtedness, whether voluntary or under foreclosure or power <br />of sale or other enforcement action or procedure, shall be considered to have been first paid on <br />and applied to the full payment of that portion of such indebtedness which is not secured or not <br />fully secured by the lien of the Deed of T rust; and (m) The covenants and ag reements contained <br />in this Deed of Trust shall bind, and the benefits and advantages hereof shall inure to the <br />respective heirs, executors, administrators, successors and assigns of the parties hereto. <br />Wherever used herein, the singular number shall include the plural and conversely, and the use <br />of any gender shall be applicable to all genders. Wherever the terms "Beneficiary is used <br />herein, it shall include the legal holder or holders of the Note or the indebtedness secured <br />hereby. <br /> <br />8. Upon written request of Beneficiary stating that all amounts and indebtedness <br />secured hereby have been paid, and upon surrender of this Deed of Trust and the Note to <br />Trustee for the cancellation and retention and upon payment by Trustor of Trustee's fees, <br />Trustee shall reconvey to Trustor, or the person or persons legally entitled thereto, without <br />warranty, any portion or the Property then held by Trustee hereunder. The grantee of any <br />reconveyance may be described as "the person or persons legally entitled thereto." <br /> <br />9. Trustor acknowledges that Trustor's current financial position is an important <br />factor in Beneficiary's decision to advance the funds represented by the aforementioned Note. <br />Trustor therefore has agreed, in order to provide assurance to Beneficiary with regard to <br />Trustor's financial position, that it shall be an event of default for Trustor to allow any lien or <br />encumbrance other then this Deed of Trust and the lien for taxes which are not yet due and <br />payable to be placed on all or any part of the Real Estate described above and allowed to <br />remain a lien for 30 day{s) EXCEPT a lien junior and inferior to this Deed of Trust may be <br />placed on all or a part of said Real Estate in favor of N/A in a principal amount not to exceed <br />ZERO DOLLARS (SO) to be placed of record no later than N/A. <br /> <br />10. Except for any notices, demands, requests or other communications required <br />under applicable law to be given in another manner, whenever Beneficiary, Trustor or Trustee <br />gives or serves any notice (including, without limitation, notice of default and notice of sale), <br />demands, requests or other communications with respect to this Deed of Trust, each such <br />notice, demand, request or other communication shall be in writing and shall be effective only if <br />the same is delivered by personal service or mailed by certified mail, postage prepaid, return <br />receipt requested, addressed to the address of the party to whom mailed as set forth at the end <br />of the Deed of Trust. Any party may at any time change its address for such notices by <br /> <br />13 <br /> <br />Initial~ s'l?- L.~ fJ R.. <br />
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