|
-��
<br /> � .
<br /> • . ��i'> . i1b�i�^_ � _. ... ., . ._ . _, .. . •. .; � , ..� �,:��°I�,"-
<br /> .......;%aiR411M� �,•�._-
<br /> ,. �-�in
<br /> �.
<br /> ; � 9�—� ��)�c�38 --
<br /> and homeetead exemption and any surviving spouse'e marital or distribu- - -
<br /> tive share, and all other contingent righta in and to said premises; and
<br /> 7`,''-.._.
<br /> All fixtures, improvement9, buildinge, and the plumbing, heating, --
<br /> vEntilati.ng and lighting syatema and equipment therein, all of which =
<br /> ahall be construed and conaidered ae affixed to and part of the real _
<br /> eatate.
<br /> °""`"� ro ert and in�ereat hereby conveyed to the
<br /> . . ,., . •q►� All aE the foregoing estate, p p Y -
<br /> said Trustee ia hereinafter collectzvely referred to as the "Property. "
<br /> TO HRVE AND TO HOLD the same unto the said Truatee, Trustee's succeasore -
<br /> and assigns forever, TN TRUST HOWEVER and WITH POWER OF SALE herek�y expressly -
<br /> granted unto thP said Truet ee, Truatee's successors, and assigns for the
<br /> • purpoee of securing:
<br /> x� (a) ThP payinent of Tru�tor's just indebtednesa to Beneficiary in the .` :
<br /> principal 3um of Two Hundred Ninety-five Thousand Dollars ($295, 000.00) for ;:
<br /> '} money borrowed, with interest thereon, a11 as evidenced by and in strict ���
<br /> ir;,_
<br /> �' accordance with the terms of that c:ertain promiesory note hereinafter called �t;.
<br /> ' '� the "Note", bearing even date herewith made payable to the order of ��-
<br /> Beneficiary, executed by Lonnie D. Davis, and providing for the payment of
<br /> „ saj.d indebtedneas in installments, subject to acceleration of maturity on ��:_
<br /> �� default in the payment of any installment of principal or intereat or in the -- _
<br /> performance of any covenant, agreement or warranty contained in this Deed of
<br /> �� Truet; _
<br /> � (b) The performance of each agreement, covenant and warranty of Trustor =
<br /> '� herein contained or aet forth in the Note or any agreement or instrument
<br /> executed by Trustor in connection with the indebtedneas hereby 8ecured; and
<br /> � (c) The payment of any aum or sums ot money with interest thereon which �';�
<br /> �. may be hereafte.r paJ.d or advanced under the terms of thie Deed of Trust.
<br /> � �-�_ _
<br /> NOW, THEREFORE, TO PROTECT THE SECURITY OF THIS DEED OF TRUST, Trustor
<br /> � doea for Trustor and for Trustor' s heirs, representatives, vendeea, �-:
<br /> . succeaeors and assigns, t�ze ownera of said Property, hereby expresely =.
<br /> covenant, agiee and warrant to and with the Truatee and Beneficiary, and —
<br /> their auccesaors, vendees and aseigns: _
<br /> First: That the TrusL-or hereby covenants and agrees, ta the extent
<br /> permitted by law, as follows : (a) to pay promptly wYien due the principal and
<br /> interest and other sums of money provided for in the Note and in this Deed of
<br /> � Trust; (b) to promptly pay before delinquency all taxes, assessments and _
<br /> other charges imposed by law upon the Property, the Trustor's interest __
<br /> • therein, or upon thia Deed of Truat or the Note; provided, however, that in �
<br /> � the event of any change of the law providing for the taxation of deeds of �_
<br /> � trust or debts thereby secured so as to affect thia Deed of Truat, th.e entire �•=
<br /> F_-
<br />� indebtedness secured hereby shall at the option of the Beneficiary become due '
<br /> and payable; (c) to keep trie above-deacribed Property and the ufferewaste -
<br /> air and not to commit or s �;`
<br /> thereon in good condition and rep .� �
<br /> thereof, and except as authorized in any schedule annexed hereto and forming ��-
<br /> a part hereof; (d) to maintain and deliver to Beneficiary policies of
<br /> insurance against euch hazards on the buildings and improvemente now or
<br /> hereafter located on or constituting a part of �he Property as the Beneficia-
<br /> ry shall require, in such companiea and amounts and with auch loss payable
<br /> clauses as shall be satisfactory to the Beneficiary; that an the event of
<br /> loas, Beneficiary is expre ssly auth�rized to settle or compromise claime
<br /> under said policies and the proceeda thereof shall be paid to the Beneficiary
<br /> who may apply the same or an�y part thereof on the indebtedness secured hereby
<br /> or toward the reconstruction or repair of said buildings and improvements or
<br /> release same to the Trustor; (e) to pay any lien, claim or charge against the
<br /> , Property which might take precedence over the li.en hereof; (f) to pay on �
<br /> J demand all legal expenses, title searches, appraisal or attorneys' fees
<br /> � t_.-, i:C�.^. ...- F�rcnlnna
<br /> 1 reasoriably incurred or paict by t�ene=iciary i� ��l�ac� �._� �-- -
<br /> i or protect the lien of this Deed of_ Trust; (g) that in the event Z'rustor �
<br /> shall fail to comply with the provisi�ns of (a) through (f) above, the
<br /> . Beneficiary may expend such funds and Y_ake such action ae is neces�ary to
<br /> ' remedy such failure and all sutns paid by the Beneficiary pursuant hereto with
<br /> interest at the rate hereinafter provided ehall constitute a lien upon the
<br /> Property, shall be secured by this Deed of Tr.ust, and shall be immediately
<br /> due and repayable to the Beneficiary; (h) not to sell the Property or any I
<br /> I
<br /> i
<br />
|