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<br />201a09285
<br />NOW, THEREFORE, TO PROTECT THE SECURITY OF THIS DEED OF TRUST, Trustor
<br />does for Trus�.or and for Trus�.or's heirs, representati�r�s, vendees,
<br />successors and assigns, the owners of said Property, he�eby expressly
<br />covenarat, agree and warrant ta an.d with the Trustee and Beneficiary, and
<br />th�ir successo�s, vendees and assigns:
<br />�'ixst: That the Trustor hereby covenants and agrees, to th� extent
<br />permitted by law, as follows: (a) to pay pramptly when du� �.he principal and
<br />intere�t and other sums of money provided for in the Not� and in this Deed of
<br />Trust; (b) to promptly pay befoare delinquency a11. taxes, assessments and
<br />ather charges imposed by law upon the Froperty, the '1'rustor's interes�.
<br />therein, or upan this Deed of Trust or the Note; (c) to keep the abo�re-
<br />described Property and �he improvements th�reon in good condition and repair
<br />and not to commi� Qr suffer waste �hereof, and except as authorized in any
<br />schedule annex�d hereto and �orming a part hereof; (d) to maintain and
<br />deliver to Beneficiary policies of insurance against such hazards on the
<br />buildings and improvements now or hereafter located on or constituting a part
<br />af the Property as the Bene�iciary shall requixe, in such companie� and
<br />amoun�s and wi�h auch loss payable clauses as sha11 be satisfac�ory to �he
<br />Beneficiary; that in �he event of loss, Seneficiary is expr�ssly authorized
<br />ta settle ar compromise claims under said policiea and the proceeds thereof
<br />shall be paid to �he Ben.eficiary who may apply the same or any part thereof
<br />on the indebtedness secured hereby ar �.oward �he recanstruc�ion or repair of
<br />said buildings arid improvetnents a� release sam� to the Tx'us�or; (e) t� pay
<br />any 1.ien, claim or charge against the Property which might take preced�nce
<br />over the lien he�'eof; (f) ta pay on demand all lega]. expenses, title
<br />searches, appraisal or attorneys' fees reasonably incurred or paid by
<br />Bene�iciary �a collect �he Note or foreclose a� prot�c� the lien of this D�ed
<br />a� Trust; (g) that in the event Trus�ar shall fail to comply with the
<br />provisions of (a) through (f) above, the Beneficiary may �xpend such funds
<br />and take such ac�ion as is neces�ary to remedy such failure and a� l sums paid
<br />by the Beneficia�y pursuant hereto with in�.erest at the rate hereina�ter
<br />provided shall constitute a 7.ien upon the Praperty, shall be secured by this
<br />Deed of Trus�., and shall be immedia�ely due and repayable �o the Beneticiary;
<br />(h) not to sell the Prape�ty or any portion thereof without the appraval of
<br />�.he Seneficiary in writing; and in the �vent of any sale herein prohibited,
<br />then the en�ire ind�b�edness secured by this Deed af Trust shall, at the
<br />option of the Beneficiary, became due and payable; (i) that if �he Property
<br />or any par�. or parc�l thereof sha1.1 be taken or damaged under �.he power of
<br />eminent domain, �.he award for any Property so �aken or damaged (including
<br />severance damages to the remaining premises) shall be paid to the Beneficiary
<br />and applied in full or in par� at the op�.ian of the Beneficiary in reduction
<br />of the indebtedn�ss hereby secured; (j) �.hat the Sene�iciary shall have the
<br />right to inspect the Praperty a� such r�asonable times as the Seneficiary may
<br />desiare �.o determine Trustor' s compliance with the covenants contained in this
<br />Deed of Trust; (k) that the Seneficiary may releas� from the lien hereof any
<br />paxt or parcel of the Property without requa.ring any considera�ion therefor,
<br />and (1) �hat Trustar is �awfully seized of said premises and Property in tee
<br />simple, that the same are �ree from all liens and encumbrances except as may
<br />otherwise be specifically n.oted her�in o� waived in writing by the B�nefic�.a-
<br />�y; that T�ustor will. execu�.e o� procure any turther necessary assurances of
<br />title and does hereby warrant generally the ti�le to said Praperty and wi11
<br />forever defend th� same against th� claims and demazzds of a11 persons
<br />whomsoever, and that T�ustor's separate estate, whether vested, contingent ar
<br />in exp�ctancy, is hereby conveyed and Trustor dnes hereby expressly waive,
<br />release a11. rights and benetits of any hom�s�.ead, dower, curtesy, apprai�e-
<br />ment, �xempt�.on and stay laws of this state. Tt is agreed that the interes�.
<br />provided for in. subsectian (g) above shall be at th� same rate as speci�ied
<br />in the Note secured hereby on the principal th�reof aft�r defaul�. and
<br />maturity.
<br />SECOND. In the event Trustor, without the prior written consent of
<br />B�neficiary, shall sell, trans�er or canvey or contract to sell, transfer or
<br />convey the Prope�ty, ar any part the�eot or any interest therein, the en�.ire
<br />balance of the indebtedness hereby secured shall b�come an.d be immedia�ely
<br />due and payable at the option of B�neficiary; provided, hpwever, Beneficiary
<br />may wai�cre such op�ion to accelerate if, prior to such sa�e, transfer or
<br />conveyance or contract theretor, Seneficiary and the person to whom the
<br />property is to be sold or transferred reach an agreement in writing that the
<br />credit of such person is satisfactory to Benefici.ary and that �he int�rest
<br />payable on the sums secured by this Deed of Trust shall be at such �ate as
<br />Beneficiary shall request.
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