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20100838�
<br />purchase at such sale). 5uch sale will be held at a suitable place to be selected by the Beneficiary within said county or political
<br />subdivision. The Trustee is hereby authorized to �xecute and deliver to the purchaser at such sale a sufficient conveyance of said
<br />property, which conveyance shall contain recitals as to the happening of default upon which the execution of the power of sale herein
<br />granted depends; and the said Trustor hereby constitutes and appoints the Trustee as his agent and attorney in fact to make such
<br />recitals and to execute said conveyance and hereby covenants and agrees that the recitals so made shall be binding and conclusive
<br />upon the Trustor, and said conveyance shall be effectual to bar all equity or right of rademption, homestead, dower, right of
<br />appraisement, and all other rights and exemptions af the Trustor all of which are hereby expressly waived and conveyed to the
<br />Trustee. In the event af a sale as hereinabove provided, the 1'rustor or any person in possession under the Trustor, shall then become
<br />and be tenants holding over and shall forthwith deliver possession to the purchaser at such sale or be summarily dispassessed, in
<br />accordance with the provisions of law applicable to tenants holding over. The power and agency hereby granted are coupled with an
<br />interest and are irrevocable by death or otherwise, and are granted as cumulative to all other remedies for the collection of said
<br />indebtedness. The Beneficiary or Assigns may take any other appropriate action pursuant to state of federal statuta either in state or
<br />federal court or otherwise far the disposition of property.
<br />5. In the event of a sale as pravided in paragraph 4, the Trustee shall be paid a fee by the Beneficiary in an amount not
<br />in excess af one percent of the gross amount af said sale or sales, provided, however, that the arnount of such fee shall be reasonable
<br />and shall be approved by the Beneficiary as to reasonableness. Said fee shall be in addition to the casts and expenses ineurred by the
<br />Trustee in conducting such sale. The amount of such casts and expenses shall be deducted and paid from the sale's proceeds. It is
<br />further agreed that if said properly shall be advertised far sale as herein provided and rtot sold, the Trustee shall be entitled to a
<br />reasonable fee, in an amount acceptable to the Beneficiary for the services rendered. The Trustee shall also be reimbursed by the
<br />Bene�ciary for all costs and expenses incurred in connectian with the advertising af said property for sale is the sale is nat
<br />cansummated.
<br />6. The proceeds of any sale of said property in accordance with paragraph 4 shall be applied first to payments of fees,
<br />costs, and expenses of said sale, the expenses incurred by the Beneficiary for the purpose of protecting or maintaining said property
<br />and reasonable attorneys' fees; secondly, to payment of the indebtedness secured hereby; and thirdly, to pay any surplus or excess to
<br />the person or persons legally entitled thereto.
<br />7. ln the event said property is sold pursuant to the authorization contained in this instrument or at a judicial
<br />foreclosure sale and the proceeds are not suf�cient to pay the total indebtedness secured by this instrument and evidenced by said
<br />promissory note, the Bene�ciary will be entitled to a de�ciency judgment for the amount of the deficiency without regard to
<br />appraisement, the `I'rustor having waived and assigned all rights of appraisement to the Trustee.
<br />The Trustor covenants and agrees as follows:
<br />a. He will promptly pay the indebtedness evidenced by said promissory note at the times and in the manner therein
<br />provided.
<br />b. He will pay all taxes, assessments, water rates, and other gavernmental or municipal charges, �nes or impositions,
<br />for which pravision has not been made hereinbefare, and will promptly deliver the official receipts therefore to the
<br />Beneficiary.
<br />c. He will pay such expenses and fees as may be incurred in the protection and maintenance af said property, including
<br />the fees af any attorney employed by the Beneficiary for the collection of any or all of the indebtedness hereby secured, of
<br />such expenses and fees as may be incurred in any foreclosure sale by the `I'rustee, or court proceedings or in any other
<br />litigation or praceeding affecting said property, and attorney's fees reasonably incurrad in any other way.
<br />d. The rights created by this conveyance shall remain in full force and effect during any postponem�nt or extension of
<br />the time of the payment of the indebtedness evidenced by said note or any part thereof secured hereby.
<br />e. He will continuously maintain hazaa'd insurance of such type or types and in such amounts as the B�neficiary may
<br />from time to time reyuire, on the improvernents now or hereafter on said property, and will pay promptly when due any
<br />premiums therefore. All insurance shall be carried in coznpanies acceptable to Beneficiary and the policies and renewals
<br />thereof shall be held by Bene�ciary and have attached thereto loss payable clauses in favor of and in form acceptable to the
<br />Beneficiary. In the event of loss, Trustor will give immediate notice in writing to Bene�ciary and Beneficiary may make
<br />proof of loss if not made promptly by Trustor, and each insurance company concerned is hereby authorized and directed to
<br />make parent for such loss directly to Beneftciary instead of to Trustor and Beneficiary jointly, and the insurance proceeds or
<br />any part tihereof, may be applied by Beneficiary at its option either to the reduction of the indebtedness hereby secured or ta
<br />the restoration or repair of the praperiy damaged. ln the event of a Trustee's sale or other transfer of title to said property in
<br />extinguishment of the indebtedness secured hereby, all right, title, and interest of the Trustor in and to any insurance palicies
<br />then in force shall pass at the optian of the Beneficiary to the purchaser or Beneficiary.
<br />f. He will keep the said premises in as good order and candition as they are now and will not commit or permit any
<br />waste thereof, reasonable wear and tear excepted, and in the event of the failure of the Trustor to keep the buildings on said
<br />premises and those to be erected on said premises, or improvements thereon, in good repair, the Beneficiary may make such
<br />repairs as in the Beneficiary's discretion it may deem necessary for the proper preservation thereof, and any sums paid for
<br />such repairs shall bear interest from the date of payment at ihe rate specified in the note, shall be due and payable an demand
<br />and sha11 be fully secured by this Deed of Trust.
<br />g. He will not without the prior written consent of the Bene�ciary voluntarily create or permit to be created against the
<br />property subject to this Deed of Trust any liens inferiar or superiar to the lien of this Deed of Trust and further that he will
<br />keep and maintain the same free fram the claim of all persons supplying labor or materials which will enter into the
<br />construction of any and all buildings now being erected or to be erected on said premises.
<br />h. He will not rent or assign any part of the rent of said property or demolish, remove, or substantially alter any
<br />building without the written consent of the Beneficiary.
<br />g, in the event the Trustor fails to pay any federal, state or local tax assessnnent, income tax or other tax lien, charge,
<br />fee, or ather expense charged to the property hereinabove described, the Bene�ciary is hereby authorized to pay the same and any sum
<br />so paid by the Beneficiary shall b� added ta and become a part of the principal amount of the indebtedness evidenced by said
<br />promissory nate. If the '1"rustor shall pay and discharge the indebtedness evidenced by said promissory nate, and shall pay such sums
<br />and shall discharge all taxes and liens and costs, fees, and expenses of making, enforcin� and executing this Deed of Trust, then upon
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