<br />~.\
<br />"
<br />
<br />instruaent Book Page
<br />200000648910 OR 1000 786
<br />
<br />,.;, :.'
<br />
<br />any amounts payable upon senior encumbrances, if any, the beneficiary may make' any such
<br />payments or procure any such insurance, and all monies so paid with interest thereon at the rate
<br />of ten percent (10%) per annum shall be added to and become a part of the indebtedness secured
<br />by this Deed of Trust and may be paid out of the proceeds of the sale of the Property if not paid
<br />by the GRANTOR. In addition, and at its option, the beneficiary may declare the indebtedness
<br />secured hereby and this Deed of Trust to be in default for failure to procure insurance or make any
<br />further payments required by this paragraph. In the event of the sale or transfer of the Property,
<br />the beneficiary, at its option, may declare the entire balance of the note immediately due and
<br />payable.
<br />
<br />And that in case of any default, whereby the right of foreclosure occurs hereunder, the
<br />PUBLIC TRUSTEE, the State as holder of the note, or the holder of a certificate of purchase, shall at
<br />once become entitled to the possession, use and enjoyment of the Property aforesaid, and to the
<br />rents, issues and profits thereof, from the accruing of such right and during the pendency of
<br />foreclosure proceedings and the period of redemption, if any there be, and such possession shall
<br />at once be delivered to the PUBLIC TRUSTEE, the State as holder of the note, or the holder of said
<br />certificate of purchase on request and on refusal, the deli'/ery of the Property rTjjly be enforced by
<br />the PUBLIC TRUSTEE, the State as holder of the note, or the holder of said certificate of purchase by
<br />an appropriate civil suit or proceeding, and the PUBLIC TRUSTEE, or the holder of said note or
<br />certificate of purchase, or any thereof, shall be entitled to a Receiver for said Property, and of the
<br />rents, issues end profits thereof, after such .default, including the time covered by foreclosure
<br />proceedings and the period of redemption, if any there be, and shall be entitled thereto as a matter
<br />of right 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 any
<br />court of curnpetent jurisdiction upon ex parte application and without notice - notice being hereby
<br />expressly waived - and all rents, issues and profits, income and revenue therefrom shall be applied
<br />by such Receiver to the payment of the indebtedness hereby secured, according to the law and
<br />the orders and directions of the court.
<br />
<br />And, that in case of default in any of said payments of principal or interest, according to
<br />the tenor and effect of said promissory r,ute or any part thereof, or of a breach or violation of any
<br />of the covenants or agreements contained herein and in the Contract, by the GRANTOR, its
<br />personal representatives or assigns, then and in that case the whole of said principal sum hereby
<br />secured, and the interest thereon to the time of the sale, may at once, at the option of the legal
<br />holder thereof, become cue and payable, and the said Property be sold in the manner and with the
<br />same effect as if said indebtedness had matured, and that if foreclosure be made by the PUBLIC
<br />TRUSTEE, an attorney's fee in a reasonable amount for services in the supervision of said
<br />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 />
<br />It is further understood and agreed, that if a release or a partial release of this Deed of Trust
<br />IS required, the GRANTOR, its successors or assigns will pay the expense thereof: that a[1 the
<br />covenants and agreements contained herein and in the Contract shall extend to and be binding
<br />upon the heirs or assigns of the respective parties hereto: and that the singular number shall
<br />include the p[ural, the plura[ the singular. and the use of any gender shall be applicab[e to all
<br />genders.
<br />
|