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83~06537 k agreed that all of the foregoing shall be hereinafter referred to as the "Prope.rty." FOR THE PURPOSE OF SECURING: (a) the payment of indebtedness evidenced by Trustor's note of even date herewith in the principal sum of Fifty Thousand Five Hundred and No/IOO Dollars ($50,500.00), together with interest at the rate or rates provided therein, or the principal and interest on any future advance as evidenced by promissory notes stating they are secured he.reby, and any and all renewals, modifications and extensions of such notes, both principal and interest on the notes being payable in accordance with the terms set forth therein, which by this reference is hereby made a part hereof; CbJ the nerformance of each aqreement and cove- nant of Trusto~ herein contained; and {el the payment of any sum or sums of money which may be hereafter paid or advanced by Beneficiary under the terms of this Deed of Trust, toqether with interest thereon at the rate provided in the note. To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as follows: 1. Payment of Indebtedness. To pay when due, the prl.ncipal of, and the interest on, the indebtedness evidenced by the note, charqes, fees and all other sums as provided in the loan instr\~ents. 2. Title. Trustor is the owner of the property and has the right and authority to execute this Deed of Trust in respect to the property. 3. Taxes and Assessments. To pay, when due, all t ,xes, special assessments and all other charges against the property, before the same become delinquent, and, in the event Beneficiary shall so require, to add to the payments required under the note secured hereby, such amount as may be sufficient to enable Beneficiarv to pay such taxes, assessments or other charges as they become due. 4. Insurance. To keep the improvements now or hereafter located on the real estate described herein insured agair.st damage by fire and such other hazards as Beneficiary may require, in amounts and companies acceptable to Beneficiary, and with loss payable to Beneficiary. In case of loss under such policies, Beneficiary is authorized to adjust, collect and compromise, ir. its discretion, all claims thereunder and, at its sole option, is authorized to either apply the proceeds to the restoration of the property or upon the indebtedness secured hereby, but payments r~uired by the note shall continue until the sums secured hereby are paid in full. 5. Re;Eir, Maintenance and Use. To promptly repair, restore or r u~ld any buildings or improvements now or hereafter on the property; to keep the property in good condition and repair, without waste and free from mechanics or other liens not expressly subordinated to the lien hereof; to not make, suffer or permit any nuisance to exist nor to diminish or impair the value of the pJ:operty by any act or omission to act; and to comply with all r~uirements of law with respect to the property. [ 6. Co'O(iemnation. In the event the property, or any part thereof, shail be taken by eminent dOl!lllin, Beneficiary is entitled to collect and receive all compensation which may he p-aid tor any property taken or for damages to property not t.aken, and Beni!.ficiary shall apply such compensation, at its option, ~ither to a reduction of the indebtedness secured hereby or to r~pair and restore the property so taken. ~ -....,-