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<br /> 97� 10163� � • . ' • ��°_-
<br /> Trustors and Beneficiary covenant and agree as follows: i, _ , �'`�' �
<br />�.L' 1. p�ymen�t _of Note. Trustors shall promptly pay when due the k . ' � . ` ` ` _'
<br />��; principal of and interest on the debt evidenced by the Trust
<br /> . , � '.._ `. -`.f'.'`��_:' _.�
<br /> . Deed and Note of even date herewith, the last installment of I. '
<br /> ��•' which is due May 1, 2007, together with all sums advanced by `. � � � ,;,�;,;.;'_,�
<br />• �� Beneficiar to protect tl:e Pro ert , with interest thereon at . - "
<br /> Y P Y {_'�.:,��'
<br /> the default rate provide3 in the Note. _ _ ���'3'�� �:�
<br /> - �-�-.
<br /> 2. Taxes an� Assess.iez;ts. =r�stors will pay all rea� esLate .
<br />� , taxes levied on the Property when they become due and before � _ -
<br /> they become delinquent. ��---�--�--
<br /> . =�-°�_
<br /> . s 3. Insurance. Trustors shall maintain ha2ard insurance, at least � ; � ;�:�'�--- ---
<br /> on 80$ fire and ext�nded coverage on the replacement value of . •�
<br /> .,. :�; -
<br /> � the improvements on the premises, or its equivalent, with , _ _
<br /> -� mortgaqe clause providing loss payable to the parties as their . �.-;.,;,y =�:� '
<br /> respective interests may appear on and after March 1, 1997, '"�`,:. �
<br /> •f until such time as the entire purchase price is paid in full. �`�''L -� ��..�..-
<br /> :� In case of loss under any such policy, Beneficiary is �:;�,^�,��` � � �""
<br /> authorized to adjust, collect and comprr�mise all claims � �����
<br /> thereunder and shall have the option of applyinq all or part ,:,�
<br /> ,� .
<br /> ' of the insurance roceeds, (i) to an indebtedness secured ��'�'�e �,.�`� �:
<br /> hereby in such order as Beneficiary may determine, (ii) to the .������""�. � .
<br /> Trustors to be used for the repair or restoration of the - � :
<br /> Property, or (iii) for any other purpose or object apprapriate : ~ '` '�°
<br /> under this Trust Deed as determined by Beneficiary without ' ! '�
<br /> affecting the lien of this Trust Deed for the full amount �``.� "-"=�~`�� �
<br /> �.�''`�'
<br /> secured hereby before such payment occurred. Any application . �, � 'ls ;��
<br /> of pro�eeds to indebtedness shall not extend or postpone the �_ ��
<br /> due date of any payments under the Trust Deed note, or cure . � • �� � �-
<br /> . any default under such Trust Deed note or this Trust Deed. �=—
<br /> Trustors shall furnish Beneficiary a certificate of insurance �.a ._� '
<br /> coverage at Beneficiary's request, with a provision in such - .���i,� ,
<br /> certificate that the insurer shall provide Beneficiary ten = �-��`-"-
<br /> (10) days advance notice of any cancellation of the policy at �� ;,��"���=
<br /> any time for an� �eason, or of expiration of the policy �� _
<br /> ' without renewal thereof. ,:�T: -
<br /> '•�t��=
<br /> 4. �x�vironmental Compliance. Trustors shall comply with all �''' :��_``
<br /> �.7"'�__ -- y,.,
<br /> � , � federal, state and local environmental laws, ordinances, _ � _.
<br /> .::�-_�,-�--,:
<br /> � rules, requirements, regulations and publications as now .:�r.��;;:
<br /> � existing or hereafter existing, amended, supplemented or
<br /> supplanted relating to the preservation of the environtnent or �--.� �
<br />� t�� regulation or control of toxic or hazardous substances or �'� � �� ��
<br />� raaterials. Trustors hereby warrant and represent to , � '� �__
<br /> Beneficiary that there are no toxic or hazardous substances or
<br /> materials on or under the Property. Trustors do hereby . � ,
<br /> indemnify and hold Beneficiary harmless an@ any successors to ��,; --r�-• '`
<br /> � 2 � �:�ia�.+_�?�'� .
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