|
<br />r
<br />
<br />l
<br />
<br />....
<br />\
<br />
<br />,~
<br />'~
<br />
<br />84.-006757
<br />
<br />FOR THE PURPOSE OF SECURING;
<br />
<br />(a) The Plymem of indebtedness evidenced by Trustor's note of even date herewith in the princiPII sum of
<br />THIRTY-FOUR THOUSAND TWO HUNDRED SIXTEEN AND NOI100 - - - - - - - - - - -oo"~
<br />IS 34 . 216 . 00 I, together with interest at the rate or rites provided therein, lherein, together
<br />with my and III mMwlls, modifications, and extensions thereof, referred to as the "Note") both princiPII and
<br />interest on the Note being PlYeble in accordance with the terms set forth therein, reference to which i$ hereby
<br />made, the final Plyment of principal and interest, if not sooner Plid and if no mMwals, modif.cetions or exteMions
<br />ant made. due iII1d Plyableon JanUary I, 1993
<br />
<br />(b) The performance of I8Ch agreetn.ent and covenant of Trustor hllrllin contained; and
<br />
<br />(cl The peyment of any sum or sums of money with interest thereon which mey be hereafter Plid or advIncId
<br />under thll terms of this Trust Deed.
<br />
<br />TO PROTECT THE seCURITY OF THIS TRUST DEED, TRUSTOR HERESY COVENANTS AND
<br />AGREES AS FOllOWS:
<br />
<br />1. Payment of Principel and Interest. Trustor shall promptly pay when clue the principal of lll'ld interett
<br />on the indebtedness evidenced by the Note, and all other cherges and fees .. provided in the Note.lll'ld the principal
<br />of and interest on any Future Advances SlICUred by this Trust Deed.
<br />
<br />2. Warranty of Title. Trustor is lawfully seized and possessed of good end indefeesible title and estate
<br />to the Property hereby conveyed and has the right to grant and convey the Property; the I'ropeny is tree II1CI cIeer
<br />of all liens and encumbrances except liens now of record; and Trustor will warrant end defend the title 10 the
<br />Property lIglIinst all claims and demands.
<br />
<br />3. Maintenance and Compliance With Laws. Trustor shall keep the Property in good ~~ condition ___
<br />~1I not comm It WIIste Of perriiltliiij)iirmei1t 'oi-deienoratlOrli:ir ihi"~-Iiif IhIII cOMPly with the pr0-
<br />visions of any .... if this Trust Deed is on a leasehold. No i/TlPfovement now or hereaftw erected upon the Property
<br />shall be altered. removed or demolished without the prior written consent of Beneficiary. Trustor shaH comply with
<br />all laws, ordinances, regulations, covenants, COnditions and resUletiom affecting the Property and not commit. ..ff8r
<br />or permit any act to be done in or upon the Property in . iol at ion of any 1_. ordirntnce, regulation, covtmant, c0n-
<br />dition or restriction. Trustor shall complete or restore promptly and in good workmanlike manner any irnplOYement
<br />on the ProPll'tY which may be damaged or destroyed iII1d PlY. when due, all claims for labor performed end ma-
<br />terials furnished therefore and for any alterations thereof.
<br />
<br />4. Insurance. Trustor, at its ellptrlse, will maintain with insurors approved by Beneficiary, insurance with
<br />respect to the Improvemenu and personal property, constituting the PropertY.lIglI;nst lOR by fire. lightning. tor.
<br />nado. and other PIl'ilS and hazards covered by standard ell tended COVllfage endorsement. in an amount equal to at
<br />,- one hundred percent of the full replacement value thereof and insurance against such other hazards end in such
<br />amounts as is customa"l... carried by owners and operators of similar properties or as Beneficiary may require for ita
<br />protection. Trustor will complv with such other requirements as Beneficiary may from time to tima request for the
<br />protection by insurence of the interests of the respective Plrties. All insurance pOlicies maintained pursuant to this
<br />Trust Deed shall _ Trustor and Beneficiary as Insureds, as their respective intemu may appear, and provide
<br />tNt there shall be no cancei'.uon or modification without no less thm 15 days prior written notification to Trustee
<br />and Beneficiary. In tllle event an... pOlicy hereunder is not renewed on or before 15 days prior to its lI11piration date,
<br />Trustee or Beneficiary ma... prlx:ure such insurance In accordance with the provisions of Plragraph 7 hereof. Trustor
<br />shali deliver to Beneficiary the offllinal pOlicies of insurance and renewals thereof or memo copies of such pOlicies
<br />iII1d renewals thereof. Failure to furnish such insurance by Trustor, or reneWIIls as required hereunder shaH. at tile
<br />option of Beneficiary, Constitute a default.
<br />
<br />S. Taus. AII_u and CN~. Trustor shall pay all taxes. aSSlIS5lTlllnts and other charges, including.
<br />Without hmitatlOfl, fines and Impositions attributable to the Property. and leasehold payments or ground rents, if
<br />eny, before the same become delinquent. Trustor shall promptly furnish to Beneficiary all notices of amounts dull
<br />under this PIIrllfaph, and in the lIVent Trustor shall make payment directly, Trustor shall promPtly furnish to
<br />BeneftC.ery rece,Pti evidencing such payments. Trustor shall pav all taxes and assessments which may be 1\!V1ed Uf)On
<br />Beneficiery'S interest herein or upOn this Trust Detld without regard to any law tNt may be enacted imposing
<br />PlymMt of tile whole or any part thereof upon the Beneficiary.
<br />
<br />6. Alldltlonll...b!!!!L.1Ind Protection of BenefiCiary's Sealrity. Trustor shall make all payments of interest
<br />and pr!flClpal and PlymenU of any other c:harges, fees and IIlCptrlSllS contracted to be paid to any lIXisting loen
<br />I1ol<Ierl or prior beMfieianes \.nder any prior deed of trust or mortllllll before the date they ant defiflQUlIflt and
<br />promptly Ply iII1d dilllharoe any and .,: other liens, cla.ms or charges which may jeoperdize the security gflnted
<br />~n. If Trustor fllila to melee any such payment or fails to parfOI111 InY of the covenenta end IQrllllml!llU con-
<br />tained in thil Twst Deed, or in any prior mort9llJll or deed of trust, or if any action Of proceeding ,. GOmmenced
<br />~ materially effects Beneflciery's inttrlllSt .n the Propert.... including. but not Itm.too to. eminent domain pro.
<br />llIIMing50. or proc:eedlf\llll iO\folvill1l a decedent, or If Trustor 'all. to P4V Trustof', debts 9llnefally lIIS thllV beCOffift dull.
<br />ItIl!Il Ienefic:1ery, at lileneficillfY'. option IInd Without notice to or demand upOn Trustor and without rlfl_mg
<br />"rUftor frem llIly oolitation herlfllnder. may make weh lIfJInerllllCfl, distlurlle such sums IIfld take such Ktlon lIS I.
<br />~'I' to lIf~t ll_ficier", 'nlllfMt, includinq, but nollirnltoo to, dlsburllement of rli'nonable Inornll'l". 'ees.
<br />IlIIvment. purdlMe. contest Of compromise of any llfIClImbrllnao, chargl! Of iien, and ;mlty upOn Ine P'oe>ertv to
<br />~ '<IP&irs. In the lIVlIflt thet Trustor ""all flUl to procure Insurance 0' to PIIY lllles. USMlmmts {If .n... othe,
<br />
<br />~"" 1/34
<br />
<br />1'.2olll
<br />
<br />
<br />I
<br />
<br />~
<br />
|