|
��
<br /> � _ _.. .. - ' = --- _-_ =--
<br /> �''., ,�: ,. � , �3�sr-B.e�ur�. _.. .. . .. , ..___3__,:-.
<br /> . +� „�-� - " -
<br /> _ 96_ i°�:�'��'� =
<br /> t:�ar.;an ir. gaad candi�ien ��d re�air ?nc� „or r.� cnmmit or �uffer waete
<br /> thereof� and excep� aa aut•hc�x•ized in atiy achedule annexed hereto and forming -
<br /> a par� hexeof; (d) to maintain and deZiver to Benefici.ary policies Qf _
<br /> indurance agaa.net euch hazards on the buildings and imgrovemen�s now or
<br /> hereafter lacated Qn or conetiCuting a part or the Properey ae i.iie t�ClICL�J.C.lca-
<br /> ry shall require, in auch cnmpanie� and amounte and with such loda payable
<br /> clauaes ae ehall be eatiafactory to the BeneElciary; that in the evenr �f
<br />- 3.ose, Beneficiary ie expreaely auehorizcd to settle or compromise Claime
<br /> under said policies and thE proceeds thereof ehalX be paid to the eeneficiar,y =
<br /> who may apply the same or any part thereof on the indebtednese secured hereby _
<br /> or toward the reconstruction or repair of said buildinga and improvementa or =
<br /> r.elease same to the Trustor; fe> to p�ay any lien, claim or charge again�t the
<br />' Property which might take precedence over the 1 ien hereof; (f) to �ay on -
<br /> 3�mand all legal expenses, title searches, appraiaal or at�orneys' fees -
<br /> reaeonably incurred or paid by Heneficiary to collect the Note or foxeclose
<br />; or protect the lien af thia Daed of Trust; (g) that in the event Trustor
<br /> shall fail to comply with the provisians of (a) through (f) above, the
<br /> Beneficiary may expend such fund� and take auch action as is neceaeary to
<br /> remedy auch failure and all aums paid by the Benef iciary pursuant �iereto with
<br /> interest at the rate hereinafter provided ahall constitute a lien upon the
<br /> Property, shall be secured by this Deed of Truet, and shall be immedlately
<br /> due and repayable to the �seneiiciary; ih) noc �� r�cil i.�zc Pr�,�a��Y o� any
<br /> portion thereof without the approval of the Beneficiary in writing; and in
<br /> the event of any sale herein prohibited, then the entire indebtednesa aecured
<br /> by this Deed ef Trust �hall, at the option of the Beneficiary, become due and
<br /> payable; (i) that if the Property or any part or parcel thereof shall be
<br /> taken or damaged under the power of eminent domain, the award for any
<br /> Property ao taken or damaged (including severance damages to the remaining
<br /> premises) shall be gaid to the Beneficiary and applied in full or in part at
<br /> the cption of the 5eneficiary in reduction of the indebtedness hereby
<br /> secured; (j) that the Beneficiary shall have the right to inspect the
<br /> , Property at such reasonable times as the Beneficiary may deaire to determine
<br /> : 'rrustor's campliance with the covenanta contained ir� this Deed of Truat; (3c)
<br /> that the Beneficiar�r may release from the lien hereof any part or parcel of
<br /> the Property without requiring �ny consideration therefor, and il) that
<br /> '1'Z'LlBtOT 16 iawiully SeiZed o= sctid �Z'Cl1Iti3C� exilci PiO�ci�y iia icc oi�T3�, ViiQV ""-'
<br /> the same are free from all Iiens and encumbrances except as may othezwiae �e
<br /> � specifically noted herein or waived in writing by the Beneficiary; �hat
<br /> Trustor will execute or procure any further necessary asaurances of title and
<br /> � doe9 hereby warrant generally the title to said Property and wi11 forever
<br /> • defend the same againat the claims and demanda of all persons whomsaever, and
<br /> that Truatar's separate estate, whether veated, contingent or in expectancy,
<br /> • ia hereby conveyed and Trus�or does hereblr expressly waive, release all
<br /> rights and benefits of any homestead, dower, curtesy, appraisement, exemption
<br /> and atay laws of thia state. It ia agreed that the interest provided for in
<br /> subsection (g) above shall be at the same rate as apecified in the Note
<br /> $ecured hexeby on the principal thereof after default and maturity.
<br /> SECOND. In the eventc Truator, without the prior written cQnsent af
<br /> Beneficiary, shall sell, transfer or convey or contract ta se13., transfer ar
<br /> convey the Property, or any part thereof or any interest thereiri, t�e entire
<br /> . balance of the indebtedness hereby secured shall become and be immediately
<br /> due and payable at the option of Beneficiary; provided, however, Beneficiary
<br /> � may waive such option to accelerate if, prior to such sale, tranafer or
<br /> conveyance or contract therefor, Beneficiary and the person to whom the
<br /> property is to be sold ar transferred reaah an agreement in writing that the
<br /> , credit of such person is satisfactory to Beneficiary and that the interest
<br /> payable on the aums secured by this Deed of Trust shall be at aucYi rate as
<br /> Beneficxary shall recyueat.
<br /> THIRD. That as further security for the payment of the Note and the
<br /> indebtedneas thereby evidenced and the performance of all of the terms,
<br /> covenants and conditions hereof, Trustor agreea that Beneficiary shaZl ar_d
<br /> does hereby have the right, power and authority during the continuance of
<br /> this Deed of Trust to collect the rents, i�sues and profits of the Property
<br /> and of any personal property located �hereon with or without taking
<br />. possession of the proper�y affected thereby; and Trustor hereby absolutely
<br /> and unconditionally assigns all such rents, issues and profits to Beneficia-
<br /> ry. Beneficiary, however, hereby consenta to Trustor's collec�ion and
<br />- retention of such rents, issues and profits as they accrue and be�ome payable
<br /> � 3
<br />
|