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<br /> 98- 1.tti�.115 �. �
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<br /> SALE hereby expresaly granted unto the eaid Trustee, his ` �
<br /> successors, and assigne for the purgose of securing: :,Y:_:
<br /> . '.'I -�,= ;
<br /> Ia) The payment of Truator's juot indebtedneas to Beneficiary
<br /> in the principal sum of one Hundred Five & Thousand and No/100 _ -
<br /> � �" Dollars ($105, 000.00) for money Y�orY•owed, with interest thereon, _ -__
<br /> �. --�"°'"" ` all ae evidenced by and in strict accordance wittz the terma �f that _-
<br /> �' �''"'l� certain promissory note, hereinafter called the "Note" , bearing
<br /> � even date herewith made payable to the order of Benef iciary, c;-_"__
<br /> ' executed by Jose Luis Flores and Guadalupe Flores, and providing �
<br /> �:,�
<br /> � � for th� payment of said indebtedness in inatallrnents, the last of c�__ u=
<br /> which is due and payable December 1, 2002, aubject to acceleration �,�
<br /> of maturity on default in the payment of any ina�allment of ��_�.
<br /> principal or interest or in the performance of any covenant,
<br /> • agreemen� or warranty contained in this Deed of Trust; �;2_=
<br /> , �'^;`�_
<br /> (b) The performance of each agreement, covenant and warranty
<br /> of Trustor herein contained or set Lorth in the Note or any ____
<br /> ,: ' agreemant or instrument execute3 by Trustor in connection with the __
<br /> indebtedness hereby secured; and '_ -
<br /> Ll.�
<br /> °�. (c) The payment of any eum or auma o� money with intex'est _ ---
<br /> thereon which may be hereafter paid or advanceci under the terma of �'�';,,�=�-
<br /> �, the Deed of Trust. ��;�::.
<br /> ' NOW, THEREFORE, 'PO PROTECT THE SECURITY OF THIS DEED OF TRUST, __-_
<br /> � Trustor doea for hi.maelf and for Trur�tor's heirs, representatives,
<br /> � vendeeo, successors and assigna, the owners of said Property,
<br /> - `�; Yiereby expresr�ly cover,an�, sgre° and warrant to and with the
<br /> � Trustee and Ber�eficiary, and their successora , vendeea and assigns:
<br /> ' �' FIRST: That the Truator hereby covenante and agreee, to the
<br /> � rom tl when due
<br /> extent pex�mitted by law, as fallows: (a) to pay p p y
<br /> the principal and interest and other sums of money p r y i�d}d for in
<br /> the Note and in thia Deed of Trust; (b) to prom tl a before
<br /> �. delinquency all taxes, asaessments and other charges impoaed by law
<br /> `� upon the Property, (c) to keep the above-described Property and the
<br /> �� improvements thereon in good c�ndition and repair and not to commit _
<br /> ` or suf fer waste thereof, and except as authorized in any schedule
<br /> - annexed hereto and forming a part hereof, neither to remove nor
<br /> permit the removal of any timber, buildings , oil, gas, minerals,
<br /> stone, rock, clay, fertilizer, gravel or top soil without the prior
<br /> � written consent of Beneficiary; (d) to maintain and deliver to _ _
<br /> Beneficiary policies of insurance against auch hazards on the
<br /> �. buildings and improvements now or hereafter located on or
<br /> . constituting a part of the Property as the Beneficiary ahall _
<br /> � ,� require, in such companies and amounts and with such loss payable
<br /> • clauaes as ahall be satisfactory to the Beneficiary; that in the :;_
<br /> event of loss, Beneficiary is expressly authorized to settle or ,�'�__
<br /> F`=y-
<br /> compromise claims under said policies and the proceeds tY�ereof r.a.._
<br /> shall be paid to the Beneficiary who may apply the same c�r any part e_
<br /> thereof on the indebtedneas aecured hereby or taward the �;;.,;--_
<br /> reconstruction or repair of said buildings and improvements or �.y._����-
<br /> ._.�i?yy,...
<br /> release same to th� Truator; (e) to pay any lien, claim or charge �,:,�:,
<br /> against the Property which might talce precedence over the lien � �'-"�
<br /> hereof; (f) to pay on demand all legal expense�, title searches,
<br /> appraisal or attorneys' fees reasonably incurred or paid by
<br /> Ben.ef iciary to collect the Note or foreclose or protect the lien of
<br /> this Deed of Trust; (g) that in the event Trustor shall fail to
<br /> comply with the provisions of (a) through (f) above, the � ;
<br /> Beneficiary may expend such funda and take such action as is
<br /> necessary to remedy such failure and all sums paid by the
<br /> L.._..�., .,;,-h ;,,rprPar ar. the rate hereinafter
<br /> � Hene=iciary Yui3i;ar�t a.�y��•• :.�---- ------ - -
<br /> 'i provided shall constitute a lien upon the Property, shall be � ��
<br /> � secured by this Deed of Trust, and shall be immediately due and �
<br /> repayable to the Beneficiary; (h) not to sell the Property or any �
<br /> portion thereof; [or, if the Trustor is a corporation, not more
<br /> � than N A per cent (1%) of. its corporate stock shall be sold,
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