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201108738
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201108738
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Last modified
11/22/2011 9:06:25 AM
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11/22/2011 9:06:24 AM
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DEEDS
Inst Number
201108738
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201108738 <br />(a) The payment of Trustor's just indebtedness to Beneficiary <br />in the principal sum of Thirty-four Thousand Nine Hundred Ninety <br />and 95/100 Dollars ($34,990.95) for money borrowed, with interest <br />thereon, all as evidenced by and in strict accordance with the <br />terms of that certain promissory note hereinafter called the <br />"Note", bearing even date herewith made payable to the order of <br />Beneficiary, executed by Katherine I. Walton, and providing for the <br />payment of said indebtedness in installments, subject to accelera- <br />tion of maturity on default in the payment of any installment of <br />principal or interest or in the performance of any covenant, <br />agreement or warranty contained in this Deed of Trust; <br />(b) The performance of each agreement, covenant and warranty <br />of Trustor herein contained or set forth in the Note or any <br />agreement or instrument executed by Trustor in connection with the <br />indebtedness hereby secured; and <br />(c) The payment of any sum or sums of money with interest <br />thereon which may be hereafter paid or advanced under the terms of <br />this Deed of Truat. <br />NOW, THEREFORE, TO PROTECT THE SECURITY OF THIS DEED OF TRUST, <br />Trustor does for Trustor and for Trustor's heirs, representatives, <br />vendees, successors and assigns, the owners of said Property, <br />hereby expressly covenant, agree and warrant to and with the <br />Trustee and Beneficiary, and their successors, vendees and assigns: <br />First: That the Trustor hereby covenants and agrees, to the <br />extent permitted by law, as follows: (a) to pay promptly when due <br />the principal and interest and other sums of money provided for in <br />the Note and in this Deed of Trust; (b) to promptly pay before <br />delinquency all taxes, assessments and other charges imposed by law <br />upon the Property, the Trustor's interest therein, or upon this <br />Deed of Trust or the Note; (c) to keep the above-described Property <br />and the improvements thereon in good condition and repair and not <br />to commit or suffer waste thereof, and except as authorized in any <br />schedule annexed hereto and forming a part hereof; (d) to maintain <br />and deliver to Beneficiary policies of insurance against such <br />hazards on the buildings and improvements now or hereafter located <br />on or constituting a part of the Property as the Beneficiary shall <br />require, in such companies and amounts and with such loss payable <br />clauses as shall be satisfactory to the Beneficiary; that in the <br />event of loss, Beneficiary is expressly authorized to settle or <br />compromise claims under said policies and the proceeds thereof <br />shall be paid to the Beneficiary who may apply the same or any part <br />thereof on the indebtedness secured hereby or toward the recon- <br />struction or repair of said buildings and improvements or release <br />same to the Trustor; (e) to pay any lien, claim or charge against <br />the Property which might take precedence over the lien hereof; (f) <br />to pay on demand all legal expenses, title searches, appraisal or <br />attorneys' fees reasonably incurred or paid by Beneficiary to <br />collect the Note or foreclose or protect the lien of this Deed of <br />Trust; (g) that in the event Trustor shall fail to comply with. the <br />provisions of (a) through (f) above, the Beneficiary may expend <br />such funds and take such action as is necessary to remedy such <br />failure and all sums paid by the Beneficiary pursuant hereto with <br />interest at the rate hereinafter provided shall constitute a lien <br />upon the Property, shall be secured by this Deed of Trust, and <br />shall be immediately due and repayable to the Beneficiary; (h) not <br />to sell the Property or any portion thereof without the approval of <br />the Beneficiary in writing; and in the event of any sale herein <br />prohibited, then the entire indebtedness secured by this Deed of <br />Trust shall, at the option of the Beneficiary, become due and <br />payable; (i) that if the Property or any part or parcel thereof <br />shall be taken or damaged under the power of eminent domain, the <br />award for any Property so taken or damaged (including severance <br />damages to the remaining premises) shall be paid to the Beneficiary <br />and applied in full or in part at the option of the Beneficiary in <br />reduction of the indebtedness hereby secured; (j) that the <br />Beneficiary shall have the right to inspect the Property at such <br />reasonable times as the Beneficiary may desire to determine <br />Trustor's compliance with the covenants contained in this Deed of <br />
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