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costs and all moneys advanced for taxes, insurance and assessments, or on any prior <br /> encumbrance, with interest thereon and pay the principal and interest due on said <br /> PROMISSORY NOTE, rendering the overplus, if any, unto the GRANTOR; and after the expiration <br /> of the time of redemption, the PUBLIC TRUSTEE shall execute and deliver to the purchaser a <br /> deed to the COLLATERAL sold. The BENEFICIARY may purchase said COLLATERAL or any part <br /> thereof at such sale. <br /> The GRANTOR covenants that at the time of the delivery of these presents, it is well <br /> seized of the COLLATERAL in fee simple, and has full power and lawful authority to grant, <br /> bargain, sell and convey the same in the manner and form as aforesaid. The GRANTOR fully <br /> waives and releases all rights and claims it may have in or to said COLLATERAL as a <br /> Homestead Exemption or other exemption, now or hereafter provided by law. The GRANTOR <br /> further <br /> covenants that the collateral is free and clear of all liens and encumbrances whatever and <br /> that 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 <br /> or 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 <br /> or transfer of the COLLATERAL, the BENEFICIARY, at its option, may declare the entire balance of <br /> the 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 <br /> assigns, then said principal sum hereby secured, and interest thereon, may at once, at the <br /> option of the BENEFICIARY, become due and payable, and the said COLLATERAL be sold in the <br /> manner and with the same effect as if said indebtedness had matured, and that if foreclosure <br /> be made by the PUBLIC TRUSTEE, an attorney's fee in a reasonable amount for services in the <br /> supervision of said foreclosure proceedings shall be allowed by the PUBLIC TRUSTEE as a part <br /> of the cost of foreclosure, and if foreclosure be made through the courts a reasonable <br /> attorney's fee shall be taxed by the court as a part of the cost of such foreclosure <br /> 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 <br /> all 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, <br /> and the use of any gender shall be applicable to all genders. <br /> Appendix 5 <br /> Page 1 of 3 <br />