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<br />84 - 005068
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<br />no effect and thereupon the beneficiary shall reconvey the same
<br />as is required by law but at the cost and expense of the Grantor
<br />who agrees to pay the same.
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<br />To further secure the payment by Grantor of Grantor'$,
<br />liabilities, Gran't01' does hereby set over, assign and transfer to
<br />Benefici ary all of the leases and rents toge'cher with all the
<br />right, title and interest of Grantor therein and thereto.
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<br />This Deed shall operate as and constitute a security
<br />agreement wi th respec't to that portion of the collateral
<br />consi tut~ng property or interes'Cs in proper'ty, whether real or
<br />personal, tangible or intangible, which are SUbject to the
<br />priori ty and pe::fecticn of securi tv interest provisi,ons o'f the
<br />uniform co~~ercial code or any similar and applicable law,
<br />statute, code or other governing body of law, Therefore, Grantor
<br />hereby gram:s 1:0 Benefiei ary a security interest in the
<br />collateral,
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<br />Grantor, W~L~~n ten (10) days after request by Beneficiary
<br />therefore, wlll cer':~fy. in writing, to Beneficlary, or to any
<br />proposed assignee of this deed, ':he amount of principal and
<br />interest then ow~nc and unnaid under ~'~ note ana whether Grantor
<br />has or asserts any - offsets~ or defe~. ...;',e' :hereto
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<br />Grantor, lmmed:l.ately upon request by Beneficiary, at
<br />Grantor's sole expense. will or w:ll cause to be made, execu~ed
<br />and del~vered to Beneflclary. Ul forr.: and substance acceptable to
<br />Eenef~clary, all "!)ocuments" (as here~Ilafter defined) that
<br />Benef~clary is adv~sed are and or deems reasonably necessary to
<br />ev:dence. document: or conc l ude the transacti ons described in
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<br />a~d/ 0:- con"!:emF: at-ed by t.hi s De-ed" the Note or the Loan Documents
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<br />Or r-equ:~~eo t,o pel~lect or cont.inue per-feeteol as valid
<br />encumbrances. ::he encumbrances granted herein or in the Loan
<br />Doouments by Crant:or to Benef1clary upon the Collateral. As used
<br />In t::~ s paragraph "Documents" means any mortgage, deed of trust
<br />or s:m:.la.::.~ :ns't-::ument., aE-Slgnment of leases. ass.l,gnment of rents#
<br />110'te securIty ag!'t?enient., flnanclng sta1:ement:, assignment of
<br />lnsu~ance, loss payac~e clause. mortgage ~ltle lnsurance policy,
<br />le~ters of oplnlon, wa~ver let~er, estoppel letter, consent
<br />let:te:t,; :lon-offs€'t: :atter ~ lnsurance cel..tlflcate; appralsal,
<br />sur\.!e~i and any JLher s:rru-lar such agreements~ instruments or
<br />document,
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<br />TO HAVE A.."'iD TO HOLD the Preml ses unto the Trustee, its
<br />successors and asslgns, foreve1-, hereby expressly wa1v1ng and
<br />re.leaslng any anO all rlght, bene11t, privilege, advantage 01'
<br />exempt~on unde1' and by v~rtue of any and all statutes and laws of
<br />the st:ate or othel' ]Ul'l,Scilctlon In WhlCh the Real Estate is lo-
<br />cated providing for the exempt:ion of homes~eads from sale on
<br />execut~on or othel~lse.
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<br />The Grantor hereby covenants W1 th and warr'ants to the
<br />Benef1c~ary and wlth the purchaser at any foreclosure sale: that
<br />at the executlon and dell-very hereof it. is ",,'ell sel.zed of the
<br />Prem:lses, and of a good, lndefeaslble estate there~n, ~n fee
<br />51mple; that the Collateral 1S free from all encumbrances what-
<br />soever (and any claim of any other person thel"eto); that 1 t has
<br />good and lawfu: l'lght to st?ll, deed and convey the Collateral;
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