Laserfiche WebLink
waives and releases all rights and claims it may have in or to said COLLATERAL as a Homestead <br /> Exemption or other exemption, now or hereafter provided by law. The GRANTOR further <br /> covenants that the collateral is free and clear of all liens and encumbrances whatever and that <br /> the GRANTOR shall warrant and forever defend the COLLATERAL in the quiet and peaceable <br /> possession of the PUBLIC TRUSTEE, its successors and assigns, against all and every person or <br /> persons lawfully claiming or to claim the whole or any part thereof. <br /> Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and <br /> assessments levied on the COLLATERAL; any and all amounts due on account of the principal <br /> and interest or other sums on any senior encumbrances, if any; and will keep the COLLATERAL <br /> insured in accordance with the requirements of the LOAN CONTRACT. In the event of the sale or <br /> transfer of the COLLATERAL, the BENEFICIARY, at its option, may declare the entire balance of the <br /> note immediately due and payable. <br /> In case of default in any of said payments of the principal or interest, according to the <br /> terms of said PROMISSORY NOTE or LOAN CONTRACT, by the GRANTOR, its successors or assigns, <br /> then said principal sum hereby secured, and interest thereon, may at once, at the option of the <br /> BENEFICIARY, become due and payable, and the said COLLATERAL be sold in the manner and <br /> with the same effect as if said indebtedness had matured, and that if foreclosure be made by <br /> the PUBLIC TRUSTEE, an attorney's fee in a reasonable amount for services in the supervision of <br /> said foreclosure proceedings shall be allowed by the PUBLIC TRUSTEE as a part of the cost of <br /> foreclosure, and if foreclosure be made through the courts a reasonable attorney's fee shall be <br /> taxed by the court as a part of the cost of such foreclosure proceedings. <br /> It is further understood and agreed, that if a release or a partial release of this DEED OF <br /> TRUST is required, the GRANTOR, its successors or assigns will pay the expense thereof; that all <br /> the covenants and agreements contained herein and in the PROMISSORY NOTE and LOAN <br /> CONTRACT shall extend to and be binding upon the successors or assigns of the respective <br /> parties hereto; and that the singular number shall include the plural, the plural the singular, and <br /> the use of any gender shall be applicable to all genders. <br /> Appendix 5 <br /> Page 2 of 3 <br />