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0 ...... · ........ TRUST ......
Lincoln, Sm~e oEW~omh~, d~scfibod ~s f~J~ows~ or conmJ~h~ noL more fhm~ forB, (40)
Lot Twel, e (12) in Star Vallm Ranch Plat fi'ix (6) as platted and recorded in the Qfficial
Recor& qf Lincoln CounO~, '~oming.
Assessor's Parcel No: Not Yet Assigned
TOGETHER WITH the reltts, isstres, and profits thereof, SUBJECT, I-IOWEVER~ to the right, power and a~thority here(nailer given to and
contErred unpon Bet~eficiary to collect and apply such rents, issues and profxts. For the put]pose of securing payment of the indebtedness evidenced by :
a promissory note, of e'ven date he~ ewith, executed by C~rantor in the sum of O~e ltmulred mtd Sixty Tlxousam[ Dollars m~tl no/100,
($160,000.00), final payment due Dec. 1, 2(101 and to secure payment of ail such further sums as may hereafter be loaned or advanced by the
Beneficiary herein to the Grantor herein, er any or either of them, while reco~d owner ofpresm~.t it~terest, for any purpose, and of'any notes, drafts or
other instruments representing such fitrther loans, advances or expenditures together witl~ interest on ail such sums at the rate therein l~ro¥ided.
Provided, however, that the making of such fudher loans, advat~ces or expenditures shall h e optional witt~ the Beneficiary, and provided, fi~rther, ~hat it
is the express intention of the parties to this Deed o£Trust that it shall stand as continuing security until paid for all tach advances together with
interest thereon.
A. To protect the security of this Deed of Truah Grantor agreest
1, To keep said property in good condition and repair, not to remove or demolish any building thereon; to complete or restore promptly and in good and workmanlike manner any building
wtdch may be comtructed, damaged or desaoyed thereon and to pay when due all claims for labor performed and materials fumlshed therefor, to comply with all laws affecting said property or
requiring any alterations or improvements to be made thereon; not to commit or permit waste eercot~ not ta conceit, suffer or permit any act upon said property in violation of law; to cultivate.
ifi{gate, fertilize, fmnlgate, prone and do all other acts which from the thwarter or u_~e of said property may be reasonably necessary, the specific enumerations herein not excluding the general.
2. To provide, maintain and deliver to Beneficiary fire insurance satisfactory to and with loss payable to Beneficiary. The amount collected under any fire or other insurance police may be
applied by Beneficiary upon any indebtedness secured hereby and in such order as Beneficiary may determine, or at option of Beneficiaff the entire amount s.o collected or any part thereof may
be rclc,'aed to Grantor. Such application or release shall not cure or waive any default or notice of default hereunder or invalidate any act done punuant to such notice,
3. 'Po appear in and defend an}' action,or proceeding purporting to affect the ~ecufity hereof or the rights or powers of Benefiei~.ry or Trustee; and to pay all costs and expenses, including cost
of evidence of title and attome3/s fees in a reasonable sum. in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this
Deed,
4. To pay: at least ten days before delinquency-all taxes and assessments affecting said property, when due. all enemnbrances. ~ha~ges and liens, with interest, on :aid property or any pad
thereof, which appear to be prior or superior hereto; all costs, fees and expenses of this Trust. In 8ddition to paymen~ due in accordance with the temu of the ode hereby secured the Grantor
shall st the option, ai~d on demand of the Benefieiary, pay each month 1/12 of the est{mated annual taxes, assessment~, insurance premium, s. maintenance and other charges upon the property
nevertheless in t~ust for Grantors use and benefit and for the payment of Beneficiary of any such items when due. Greeter's failure so to pay shall come(lute a default under the mt.
5, Should Grantor fall to make any payment or to do any act as herein provided, then Beneficiary or Truitee, but without obligation so to do and without notice to or demand upon Grantor
and without releasing Grantor from any obligation hereof' may: make or do the same in such manner and to such extent ~s either may deem necessary to protect the security hereof, Beneficiary
or Trustee being authorized to enter upon said property for such purposes; appear in and defend any scl(on or proceeding purpotling to affect the seemity hereof or the rights or powers of
Beneficiary or Trustee; p~y, purchase, contest or compromise any encumbrance, thisbe or llen which in the judgment of either appears to be prior or superior hereto; and, in exercising any such
powers, pay necessary expenses, employ counsel and pay his reasonab e fees.
6. Should Grantor fail to make any payment or to do any act here£n provided, then Beneficiary or Trustee. but without obligation so to do and without notice to or demand upon Grantor and
without releasing Grantor £rom any ot~ligations hereof, may: make or do the same in such .harmer and to such ex'lent ~ either may deem necessary to protect the security hereof. Beneficiary or
Trustee being authorized to enter said property for such purposes; appear in and defend any action or proceeding purporting to street the seemSty hereof or the right~ or powers ofgeneliei,'%, or
Trustee; pay, ptiechase, eon est nr compromise any encumbrance, charge or lien which in the judg~nent of either appeam to bc prior er ~upctior hereto; md, in exercising any such powers, or in
erfforcing the Deed of Trust by,judicial foreclosure, pay necessary expelues, employ counsel and pay his reasonable fee~,
B. It is mutually ngreetl that:
1. Any award of daoqages in eonnectlon with any anndernnatian for public use cfm injury to said property or any pad thereof i~ hereby assig~ed and shall be paid to Beneficiary who may
apply or release such monces received by him in the stone manner and with the same effect ~ above provided for disposition of proceed~ of fire or other insurance.
:2. By aeeeptlng payment of any ~tun ~ecured hereby ~qer its due date, Beneficiary does not waive his rigl t either to require prompt payment when due of all other sum~ so secured or to
declm'e default for failure so to pay,
3. At any time or Erom time to time, without liability lherefor and without notice, upon written request ct' Beneficiary and present!ion of this Deed and said note for endorsement, and
without affecting the personal liability of my per, on for payment of the indebtedness secured hereby, Trustee may: rc¢onvce all or any part of said property; consent to the making of any map
or plat thereof; join in grant ng any easement thereon; or join in any extension ~greement or any agreement subordinating the lien or charge heree£
4. Upon written reque*t of Beneficiary stating that all stare secured hereb};have been paid. aJxd upon surrender of thi~ Deed and ~aid note to Tiustee Per cancellation and retention and upon
payment of its fees, Trustee shall reconvey, without warranty, the property then held hereunder. 'D~e recit~ts in any reconveyance executed under this Deed of Trmt of any matters or facts shall
be conclusive proof~ofthe truthfulness thereof. The grantee in such reconveymace may he described ~ ' the person or persom leggy entitled thereto,'
5. As additional security, Grantor hereby gives to and confers Upon Beneficiary the right, power and authority, during the continuance of these Trusts. to collect the rents, issues and profits
of said property, reserving unto Grantor the Hght, prior to my default by Grantor in payment of any indebtedness seemed hereby or in performance of ~my agreement hereunder, to collect and
~etain such rents, issues and profits as they become due and payable. Upon *ny sucre default, Beneficiary may at any rime without notice, either in person, by agenk or by a receiver to be
appointed by a court, and without regard to the adequace of any security for the indebtedness hereby secured, enter upon and take possession of said property or any pad thereof, sue for or
otherwise collect soch rent~, issue and profits, including those past due and unpaid, and apply the same, less costs and expenses of operatinn and collection, including reasonable attorney's fees,
upon any indebtedness secured hereby, and in such order as Beneficiary may determine. The exercise of any of the rights in this paragraph (5) shall not be deemed a cure or waiver of any
default or notice of default. "
6, Upon default by Grantor of any obligation hereunder, all sm secured hereby shall immediately become due and payable at the option of the Beoeficiaiy, In the event of c[efault,
Beneficiary shall execute or cause the Tn. alee to execute a vaitten notice ofdefadt ~nd election to sell the property to sat sl~, the obligatinn~ hereof, and shall cause such notice to be i'eeorded in
the ofiqce of tho County reco~dcr.
Notice of sal~, having been given ox than required by law, md not less than the time then required by law having elapsed, Trugtee. without demand on Grantor, shall zel[ said property at
the time and place fixed by it in said notice of sale. either a~ a wlml~ or in ~eparate p~rcels and in such order aa it may determine, at public auction to the highest bidder for cab in lawful money
of the U ~ited States. payable at time of sale. Trustee shall deliver to the patchy,set ilo deed conveying tho properly so sold. but without any coveoant or warranty express or implied, 'lhe
recitals in such deed of any matter~ or facts shall be conclusive proof of the t~utttthlnesx thereof. Any pcrzon, including Grantor, Trustee, or Beneficiary, may purchase at such sale.
Vision Form 8DD04tD Rev, 10115199
APa:r deducting all costs, fees and expenses of Trustee and of this Test including cost of eviden0e of title and reasonable eoumel fees in connection with sale. Trmtee shall apply the
proceeds of sale to payment of: all sums expended under the tem~ hereof, not then repaid, with seemed interest at the highest lawful rate permissible under Idaho law, all other sums then
secured hereby; and the remainder, if any, te the person or persons legally entit)ed thereto.
Not wlthsbmding any other provisions hereof or of any other agreement between the parties hereto, under no elrcumstances shall the amount paid or agreed to be paid to such Beneficiary
for the use, forbearance or detention of money exceed the highest lawful rate permissible, and ifa court of competent jurisdiction sha)l determine thst the performance of any provision hereof or
thereof shall result in payment of amount in excess thereof, then aneh provbion shall be deemed appropriately modified 10 the extent necessary to reduce such amount to that not in excess of
such rate, any excess amount theretofore received shall be deemed applied to the ~tincipal amount of the debt.
7. This Deed applies to, inures to the benefit of, end binds all pmies hereto, their heir, legatees, devices, administrator~, executor~, ~ueee~sors and assigns. The term Beneficiary shall mean
the holder and owner of the note secured hereby, or, if the note has been pledged, the pledgee thereof, in the Deed, whenever the context so requires, the masculine gender includes the
feminine and/or neuter, and the singular number includes the plural.
8. Trustee is not obligated to notify any party hereto of pending sale under any other Deed of Test or of any action or proceeding in which Grantor, Beneficiapff or Tn~tee shall be a party
unless brought by Trustee.
9. In the event of dissolution or resignation of the Trustee, the Beneficiary may substitute a trustee or trustees to execute the trust hereby created, and when any such substitution has been
filed for record in the office of the Recorder of the county in which the property herein described is situsted, it shall be conclusive evidence of th~ ~ppnintment of such trustee or trustees, and
such new trustee or lmstees shall succeed to ail ortho power~ and duties of the trustee or trustees named herein.
Request is hereby made that a copy of any Notice of Default snd s copy of may Notice of Sale hereunder be mailed to the Grantor at the address hereinbefore set forth. ·
INDIVIDUAL ACKNOWLEDGMENT
STATE OF mAHO ~
CO .UNTY OF
· . ~-,~ .'~ ~ ~,
O,k"l:hi~; 7 day of;~ ~O./before me, the undersized, a Nohow Public in and for the State, personalty appe~ed
{}'~~ i' ~],.z~ ~.~,~ ~.~. ~ , ~o~r identified to me to be flm.~erson(s) ~ se name(s)
is/~e subscribed~e ~in ins~i~g~owledged to me that he.e~cuted ~e.same. ~) ~-]
· '~ C **% .... ' ~ .
: ~ <~ d' ~ ~' ~m N0taw ~blic i and fo said Coun' '~nd Stat
~ ~ ~ ~ 5C ~ Commissio~E~.:
THE PROMISSO~~t~R NOTES, ~D ANY E~ENCES OR FURTHER AND/OR
ADDITIONAL ~V~CES MUST BE P~SENTED WITH THIS REQUEST
To: Trustee:
You ~e hereby authorized ~d requested to.execute a reconveyance here~der and deliver same to
The undersized hereby ce~ffies that ~e omar(s) and holder(s) of the debt mentioned in said Deed of Trust and that the
same has never been assi~ed or tr~sfeged.
Address:
Bencficia~
Telephone No.:
Beneficiary
Vision Form SDD04iD Rev, 10/15/90