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Home My WebLink About0728 . ~ . ~a~ether ~rith aU additions and improvemenb thereto. includiug buildings and iixtur~a thers- on. and ~11 other real estate se may hereaiter be soquired and used or held for uae in connection with the busineea oi the party oi the iirst p~rt; and the party of t2ie first psrt bereby waivea no- tice of any applicstton by t6e p~rty oi the second put or put~ of the third put for the sppoint- ment oi a reoeiver upon defautt of aqy of tLe oonv~sysnoea and covensnts hereia contained. And tha party o! the iiret part oovenants thst it is aeised oi asid lands in iea sitaple and 2u~s the rtght to convey aaid real eatate in iee aimple; ttwt the aame is iree snd clesr oZ all encnm- branoes and liens oi svery nature and that it will warrant and deiend the same ~atnet the cl~ims ~ of sU persans whomeoever; tbat it will not create or permit to aocrue any debt, liea. secartty in- tereat or cLarge which would be prior to or on a parity with the lien created as herein provided and that it wiU campU? with sll statutes, ordinancea. regulatlona and requiren~ts imposed by any governmental authorlty upon or with respect to asid property or any part thereof. TO HAVE AND TO HOLD the said landa and Premiees, together with sn,y snd sU rights. privile,~es and appurtenanoea thereon s~ perta~ining thereto, including improvenlenta thereto in fee eimple aad abeolut$ly. npon the trueta ~ ior the n,s~ and purposes bereinafter eet forth. Ii the amounta payable on said note, bereby eecured, or aqj? eztenaiona or reaewals thereoi. be not paid w2?en due; or ii the party oi tbe third part~ or holder oi said note, determinee in good isith that the prnepecta of p~yment or periormance are impaired; or aaid party oi the third part or holder deems itaelf insecure; or ii t6e party o! the firat part ahall: Fsil or neglect to pay all tase$ or saeessmenta which are or may be levied against or which may conatitut~ s lien upon the aforesaid property within three months after the same shall have bec:ome due and payable ; or fail to keep the improvementa on $aid real estate, all other inaurable prnperty oonveyled hereby and any bueiaese with which eame is connected, inar.red againat loes by fire and other hazarde and in the amount or- amounte required by the party oi the third part, it$ succ~seora or asaigna, los~, if any, payable to the 1~uatee herein as his intereata may appear, tor the benefit of the party oi the third part or the holder or holdera of the indebtednees hereby secured ; or remove any ot the aforesaid prnperty from ita location as ahown herein without the prior written consent of the party of the third part, its suocessora or asaigns; or tail to oomply with or perform say of the p~rty of the firat part'a agreements or covenaats set forth in this Deed of-15ruet or in the said notc; or make or have made any statetaen~ or representation or warranty to the party of the third part in oonnection with this Deed of Trust which ia false in any material respect when made or furnished ; or if there occurs any of the following events : dissolution. termination of existence, inaolvency, fail- ur~ to pay debts as they mature, appointment of Iteceiver for anq part of the party of the firat part'a (or ita subaidiary's) property. asaignment for the benefit of creditora by party of the first part (or ita subsidiary) or the commencement of sny bankruptcy proc~.+eding by or against party of the firat part_ (or its subsidiary) ; then in eit6er one or more of said events all of the indebted- ness hereby seeured ahall immediately become due and oollectible st the option o! the holder there- of and without notice ~o the party ~of the first part; and on the application of the party of the third part or the holder of the aforeeaid note evidencing any portion of the indebtednesa hereby secured, it shall be lawfnl for, and the duty of, the Trustee to advertise at the county courthouse in the county wherein the real property hereinabove described ia located, for a time not leas than thirtq (34) days, and also to publish notice of sale once a week for four (4) succeaaive weeka in some newapaper published within the county wherein the real property hereinabove described is located appointing a day and place of sale, and at auch time and plaoe to expose the property described in snch notice of public sale to the highest bidder ior cash, or upon such terms ae the party of the third part or the holder of said note may direck The Trustee msy require the sucxessful bidder at any ~ sale to depoeit immediately with the Truatee cash or certified check in the amount of ten per cent i (lOq6) of his bid as s guarantee o~ hia compliance with his bid, provided that such requirement ia ~ set forth in said notice. The Truatee may reject a bid if the depoait ia not immediately made. ~ Any deposit ahaU be refunded in the case of a resale ordered by virtue of an increased bid. If the j purchaeer faila to comply with hia bid, the deposit ahaU be applied toward the expenses of the ~ sale and the residue, i~ any. as a credit to the indebtednesa. In all other ca~ea the deposit ahall be ~ applied upon the purchase price. Upon such aale, the Trustee ahall collect the purchase money ~ and convey title to said real estate to the pnrchaser, first retaining .the uaual compensation re- ceived hy a Truatee for making such eale, and for all services performed and expenaes incurred ~ incidental thereto. aut of the proceeds of anch sale and ahall apply so much of the residue sa may ~ be necesaary to pay off and discharge said note and all interest then accrned and due thereon. as ~ well as sny other indebtedneaa wluch may be owing to the party oi the third part by the par~y of ; the lirat part, and shall pay the surplus, if any remaina, to aaid party of the first part, ita auccea- sora, legal representatives or assigns. ? AND IT IS FUIiTHEIi 3TIPULATED AND AGREED~ that if the said party of the firat part, ~ ita successora or aa~igns, shall paq in full said note and intsrest thereon sa herein or in said note i provided, and any and all other indebtednesa oi said party of the firat part t~ the party ot the third ¢ . part, and diecharge fuUq the Truatees sa herein required, at any time bef~re auch sale or diepoai- ~ tion, then thia Dered of Truat ahalt ~ecome nutl and void; or, if auch diecharge af indebtedneea ahall 3 be accommplished by a sale or disposi~on of a part of the property hereinabove d~cribed then eo ~ much of eaid property aa may not hsve been eold or diapoaed oi and is aot required to meet any ` of aaid truata. agr~menta or covenants shall be reconveyed to the party of the firat part, ita su~ ~ ; ceseora or aeaigns, or any title and righta thereto may be revested in it aocording to the proviaiona . ~ of law. ~ ~ € . ~ . ~ooK 2~.4 ~f 729 ~ . . ~ . ~ a°£..~T .e,r.... ~ zi . . _ ~ .L. . . ~ ~ . ~ '+a