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201001284
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Last modified
2/26/2010 4:48:32 PM
Creation date
2/26/2010 4:48:32 PM
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DEEDS
Inst Number
201001284
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2oiooi2s4 <br />2. Title. Trustor is the owner of the property and has the right and authority to <br />execute this Deed of Trust in respect to the property. <br />3. Taxes and Assessments. To pay, when due, all taxes, special assessments and all <br />other charges against the property, before the same become delinquent, and, in the event <br />Beneficiary shall so require, to add to the payments required under the note secured hereby, such <br />amount as may be sufficient to enable Beneficiary to pay such taxes, assessments or other <br />charges as they become due. <br />~. Repair, Maintenance. and Use. To not commit waste on or damage to the property <br />and to use due care to prevent others from so doing; to keep all irrigation equipment situated <br />upon the aforedescribed real estate in good condition and repair; to keep the property free from <br />mechanics or other liens not expressly subordinated to the lien hereof; to not make, suffer or <br />permit any nuisance to exist nor to diminish or impair the value of the property by any act or <br />omission to act; and to comply with all requirements of law with respect to the property. <br />5. Condemnation. In the event the property, or any part thereof, shall be taken by <br />eminent domain, Beneficiary is entitled to collect and receive all compensation which maybe <br />paid for any property taken or for damages to property not taken, and Beneficiary shall apply <br />such compensation, at its option, either to a reduction of the indebtedness secured hereby or to <br />repair and restore the property so taken. <br />6. Performance by Beneficiary. Beneficiary may, but shall have no obligation to, do <br />any act which Trustor has agreed but failed to do, and Beneficiary may also do any act it deems <br />necessary to protect the lien hereof. Trustor agrees to repay, upon demand, any sums so <br />expended by Beneficiary for the above purposes, and any sum so expended by Beneficiary shall <br />be added to the indebtedness secured hereby and become secured by the lien hereof. Beneficiary <br />shall not incur any personal liability because of anything it may do or omit to do hereunder. <br />7. Assigmnent of Rents. Beneficiary shall have the right, power and authority <br />during the continuance of this Deed of Trust to collect the rents, issues and profits of the property <br />and of any personal property located thereon with or without taking possession of the property <br />affected hereby, and Trustor hereby absolutely and unconditionally assigns all such rents, issues <br />and profits to Beneficiary. Beneficiary, however, hereby consents to Trustor's collection and <br />retention of such rents, issues and profits as they accrue and become payable, so long as Trustor <br />is not, at such time, in default with respect to payment of any indebtedness secured hereby, or in <br />the performance of any agreement hereunder. If any event of default described hereafter in re- <br />spect to this Deed ofTrust shall have occurred and be continuing, Beneficiary, as a matter of <br />right and without notice to Trustor or anyone claiming under Trustor, and without regard to the <br />value of the trust estate or the interest of the Trustor therein, shall have the right to apply to any <br />court having jurisdiction to appoint a receiver of the property. <br />$. Inspections. Beneficiary, or its agents, representatives or workmen, are <br />authorized to enter at any reasonable time upon or in any part of the property for the purpose of <br />inspecting the same and for the purpose of performing any of the acts it is authorized to perform <br />under the terms of any loan instruments executed by Trustor. <br />9. Transfer of Propertv. If all or any part of the property or any interest of Trustor <br />therein is sold, transferred or further encumbered without the express or written consent of <br />Beneficiary, Beneficiary may, at its sole option, declare all sums secured by this Deed of Trust to <br />be immediately due and payable and proceed to the remedies available to it under the default <br />provisions contained herein. <br />10. Events of Default. Any of the following events shall be deemed an event of <br />default hereunder: <br />(a) Trustor shall have failed to make payment or any <br />installment of interest, principal or principal and interest or any <br />other sums secured hereby when due; <br />2 <br />
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