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201002872 <br />D. Procure and maintain policies of all~risk insurance on said <br />improvements, in sums and underwritten by companies acceptable to <br />the BENEFICIARIES, in an amount at least equal to the property's <br />full insurable value, which policies shall name the BENEFTCIARIES <br />as additional insureds, with the proceeds payable to the parties as <br />their interests may appear hereunder. TRUSTOR agrees to provide <br />BENEFICIARIES with copies of such policies or certificates of <br />insurance during the term of this indebtedness, which policies of <br />insurance may not be cancelled by said carrier without fifteen (15) <br />days written notice to BENEFICIARIES. <br />E. Tn the event the TRUSTOR fails or neglects to pay taxes and procure <br />casualty insurance, all as above set forth, then BENEFICIARIES may <br />pay such taxes and procure such insurance, and all sums expended <br />and advanced by BENEFICIARIES and TRUSTEE in accordance with the <br />provisions contained herein are secured hereby and, without demand, <br />shall be immediately due and payable by the TRUSTOR and shall bear <br />interest at the rate of six and one-half percent (6.5~) per annum <br />until paid; provided however, that at the option of the <br />BENEFICIARIES and TRUSTEE, such advancements for payment of taxes <br />and insurance may be added to the principal balance of any <br />indebtedness secured hereby and shall bear interest at the rate of <br />ten percent (10~) per annum until paid. <br />TRUSTOR covenants and agrees that a failure to make any payment, either <br />principal or interest, on the Note secured hereby when due and payable, or a <br />failure to comply with any of the covenants and agreements herein made shall <br />cause the whole sum of money hereby secured to become immediately due and <br />collectible at the option of the BENEFICIARIES, and BENEFICIARIES shall have <br />the right to cause Notice of Default to be given and the premises to be sold as <br />provided herein. <br />The parties mutually agree as follows: <br />A. At any time and from time to time upon written request of <br />BENEFICIARIES, payment of fees and presentation of this Deed of <br />Trust and the Note fpr endorsement (in case of full reconveyance, <br />for cancellation and retention), without affecting the liability of <br />any person for the payment of the indebtedness, TRUSTEE may (a) <br />consent to the making of any map or plat of said property; (b) join <br />in granting any easement or creating any restriction thereon; (c) <br />join in any subordination or other agreement affecting this Deed of <br />Trust or the lien or charge thereof; (d) reconvey this Deed of <br />Trust or the lien or charge thereof; (d) reconvey, without <br />warranty, all or any part of said property upon request of <br />BENEFTCIARIES. <br />B. The grantee in any Deed o~ Reconveyance may be described as "the <br />person or persons entitled thereto", and the recitals therein of <br />any matters or facts shall be conclusive proof of the truthfulness <br />thereof. Reconveyance shall operate as a reassignment of rents and <br />profits assigned to TRUSTEE. <br />C. Upon default by TRUSTOR in the payment of indebtedness secured <br />hereby or in the performance of any agreement hereunder, <br />BENEFICIARIES may accelerate payment and declare all sums secured <br />hereby immediately due and payable by delivery to TRUSTEE of <br />written declaration of default. If BENEFICIARIES desire said <br />property to be sold, they shall deposit with TRUSTEE this Deed of <br />Trust and all promissory notes and documents evidencing <br />expenditures secured hereby, and shall deliver to TRUSTEE a written <br />Notice of Default and election to cause said property to be sold in <br />the form required by law, which shall be duly filed for record by <br />TRUSTEE. <br />(1) After the lapse of such time as may be required by law <br />(presently being one (1) month following the recordation of <br />said Notice of Default), Notice of Default and Notice of Sale <br />having been given as required by law, TRUSTEE, without demand <br />~2- <br />