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<br />BOOK3136
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<br />PAGE319
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<br />insured in accordance with the requirements of the Contract. Should the GRANTOR fail to
<br />insure the Property in accordance with the Contract or to pay taxes or assessments as the
<br />same fall due, or to pay any amounts payable upon senior encumbrances, if any, the
<br />beneficiary may make any such payments or procure any such insurance, and all monies so
<br />paid with interest thereon at the rate of ten percent (10%) per annum shall be added to and
<br />become a part of the indebtedness secured by this Deed of Trust and may be paid out of
<br />the proceeds of the sale of the Property if not paid by the GRANTOR. In addition, and at its
<br />option, the beneficiary may declare the indebtedness secured hereby and this Deed of Trust
<br />to be in default for failure to procure insurance or make any further payments required by
<br />this paragraph. In the event of the sale or transfer of the Property, the beneficiary, at its
<br />option, may declare the entire balance of the note immediately due and payable.
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<br />And that in case of any default, whereby the right of foreclosure occurs hereunder,
<br />the PUBLIC TRUSTEE, the State as holder of the note, or the holder of a certificate of
<br />purchase, shall at once become entitled to the possession, use and enjoyment of the
<br />Property aforesaid, and to the rents, issues and profits thereof, from the accruing of such
<br />right and during the pendency of foreclosure proceedings and the period of redemption, if
<br />any there be, and such possession shall at once be delivered to the PUBLIC TRUSTEE, the
<br />State as holder of the note, or the holder of said certificate of purchase on request and on
<br />refusal, the delivery of the Property may be enforced by the PUBLIC TRUSTEE, the State as
<br />holder of the note, or the holder of said certificate of purchase by an appropriate civil suit or
<br />proceeding, and the PUBLIC TRUSTEE, or the holder of said note or certificate of purchase, or
<br />any thereof, shall be entitled to a Receiver for said Property, and of the rents, issues and
<br />profits thereof, after such default, including the time covered by foreclosure proceedings and
<br />the period of redemption, if any there be, and shall be entitied thereto as a matter of right
<br />without regard to the solvency or insolvency of. the GRANTOR or of the then owner of said
<br />Property and without regard to the value thereof, and such Receiver may be appointed by
<br />any court of competent jurisdiction upon ex parte application and without notice - notice
<br />being hereby expressly waived - and ail rents, issues and profits, income and revenue
<br />therefrom shall be applied by such Receiver to the payment of the indebtedness hereby
<br />secured, according to the law and the orders and directions of the court.
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<br />And, that in case of default in any of said payments of principal or interest, according
<br />to the tenor and effect of said promissory note or any part thereof, or of a breach or violation
<br />of any of the covenants or agreements contained herein and in the Contract, by the
<br />GRANTOR, its personal representatives or assigns, then and in that case the whole of said
<br />principal sum hereby secured, and the interest thereon to the time of the sale, may at once,
<br />at the option of the legal holder thereof, become due and payable, and the said Property be
<br />sold in the manner and with the same effect as if said indebtedness had matured, and that if
<br />foreclosure be made by the PUBLIC TRUSTEE, an attorney's fee in a reasonable amount for
<br />services in the supervision of said foreclosure proceedings shall be allowed by the PUBLIC
<br />TRUSTEE as a part of the cost of foreclosure, and if foreclosure be made through the courts a
<br />reasonable attorney's fee shall be taxed by the court as a part of the cost of such
<br />foreclosure proceedings.
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<br />It is further understood and agreed, that if a release or a partial release of this
<br />Deed of Trust is required, the GRANTOR, its successors or assigns will pay the expense
<br />thereof; that all the covenants and agreements contained herein and in the Contract shall
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