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2010U8999
<br />accordance with �he terms �f that certain promissory note,
<br />here�nafter called the "Note", bearing even date herewith made
<br />payable to the order of Beneficiary, executed by Roger H. Ostwald
<br />and Sherr�l A. Ostwald, and providing for the paym�nt of said
<br />indebtedness in installments, the last af which is due and payable
<br />January 1, 2016, subject to acceleration of maturity on default in
<br />the payment o� any instal�ment of principal or interest ar in the
<br />performance of any covenant, agreement or warranty contained in
<br />this Deed of Trust;
<br />(b) The per�ormance of each agreement, covenant and
<br />warranty of Trustor herein contained or set forth in the Ndte or
<br />any agreement ar instrument executed by Trus�or in connection with
<br />the indebtedness hereby secured; and
<br />(c) The payment of any sum or sums �f money with in�erest
<br />thereon which may be hereafter paid or advanced under the terms of
<br />the Deed of Trust.
<br />NOW, THEREFORE, TO PROTECT �HE SECURITY O� THIS DEED OF
<br />TRUST, Trustor does for himself and for Trustor's heirs,
<br />rep�esentatives, vendees, successors and assigns, the owners of
<br />said Property, hereby expressly covenant, agree and warrant to and
<br />with the Trustee and Beneficiary, and their successars, vendees
<br />and assigns:
<br />FIRST That the Trustor hereby covenants and agrees, to the
<br />extent permitted by law, as �ollows: (a) �o pay promptly when due
<br />the pr�ncipal and interest and o�her sums of maney provided �or in
<br />the Note and in this Deed of Trust; (b) to promptly pay before
<br />d�linquency all taxes, assessments and other charges imposed by
<br />1aw upon the Property, (c) to keep the above�described Prope�ty
<br />and the impravements thereon in good condition and repair and not
<br />to comm�t or sutfe� waste thereof, and except as autharized in any
<br />schedule annexed her�to and forming a part hexeof, neither to
<br />remove nor permit the �emoval of any timber, buildings, oil, gas,
<br />minerals, stone, rack, clay, te�tilizer, gravel or top soil
<br />wi.thout the prior written consent of B�n�fi.ciary; (d) tn maintain
<br />and deliver. to Beneficiary po�icies o� �nsurance against such
<br />hazards on the buildings and improvements now ar hereafter �ocat��.
<br />on or constituting a part of the Property as the Beneficiary shall
<br />require, in such companies and amounts and with such lass payabl�
<br />clauses as shall be satisfactory to the Beneficiary; that in �h�
<br />even� of 1oss, Beneficiary is �xpressly authorized to settle o��
<br />compromise claims under said polici�s and the proceeds thereof
<br />shall be paid to the Seneticiary who may apply the same or any
<br />par� �hereof on �he indebtedness secur�d hereby or toward the
<br />r�c�rlstruction or repair o� said buildings and improvements or�
<br />release same to the Trustor; (e) ta pay any lien, claim or charge
<br />against the Property which might take pr�cedence over the lien
<br />hereof; (f) to pay on demand al1 1ega1 expenses, title searches,
<br />appraisal or attorneys' fees reasonabl� incur�ed Qr paid by
<br />Beneficiary to collect the Note or �oreclose oz protec� �he lien
<br />of th�s Deed of Trus�; (g) �hat in the even� Trustar shall fail.
<br />�o comply with the provisions of (a) through (f) above, trxe
<br />Beneficiary may expend such funds and take such action as is
<br />necessary �o remedy such failure and a1� sums paid by the
<br />Beneficiary pursuant hereto with inter_est a.t the rate hereinafter
<br />provided sha11 constitute a 1.ien upon the Property, shall be
<br />secured by this Deed of Trust, and shall be immediately due and
<br />repayable to the Beneticiary; (h) not ta sell the Property or any
<br />po�tion therea�; and in the event ot any sale herein prohibited,
<br />�hen the entire indebtedness secured by tnis Deed of Trust shall,
<br />at the op�ion of the Beneficiary, become due and payabl�; (i)
<br />�hat if the Property or any part or pa�cel thereo� sha11 be taken
<br />or damaged under the power of eminent domain, the award for any
<br />Prope�ty so taken ar damaged (including severance damages to the
<br />remaining premises) shall be paid t�o the �ene�iciary and applied
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