RECORDING COVER SHEET. Title of Document: Date of Document: Grantors: Grantee(s): Mailing Address(es): Reference Book and Page: Doc.

Transcription

1 RECORDING COVER SHEET Title of Document: Date of Document: Grantors: Grantee(s): Mailing Address(es): Legal Description: See Exhibit A Reference Book and Page: Doc. # Book at Page

2 DEED OF TRUST THIS DEED, made this day of, 20, by and between ( Borrower ), Michael P. Keleher ( Trustee ), and ( Lender ). WITNESSETH: that Borrower, in consideration of One Dollar ($1.00), in hand paid by Trustee, grants, bargains, sells and conveys to Trustee all right, title and interest in and to any and all of the following described property, whether now owned or held, or hereafter acquired (collectively, the Mortgaged Property ). (A) See Exhibit A. The following described real estate in County, Missouri (the Premises ): (B) All fixtures attached to said real property together with all replacements, substitutions and proceeds thereof. TO HAVE AND TO HOLD THE SAME with all easements, rights and appurtenances thereto belonging to Trustee in trust for the following purposes: WHEREAS, Borrower did, on this date execute to Lender a Promissory Note (hereinafter referred to as the ( NOTE ), in the principal amount of AND /100 ($ ), bearing initially interest at PERCENT ( %) per annum, which interest payable in monthly installments of AND /100 DOLLARS ($ ) per month beginning on the day of, 20 and continuing on the first day of each and every month thereafter until the entire unpaid principal balance and all accrued interest under the Note is paid in full; and WHEREAS, this Deed of Trust is also given to secure payment of any and all extensions or renewals or replacements, and successive extensions or renewals or replacements of the Note or of the indebtedness represented by this Note, and any other indebtedness at any time arising, all of which, together with this Note hereinafter referred collectively to as the Indebtedness ; and WHEREAS, Borrower agrees not to, without the prior written consent of Lender, directly or indirectly: (1) sell, transfer, convey, assign or otherwise dispose of any of the Mortgaged Property; (2) assign or transfer in any manner or right, title or interest in any lease or sublease of all or any portion of the Mortgaged Property; and (3) partition or subdivide the Mortgaged Property; and

3 WHEREAS, Lender or Lender s assigns, before sale hereunder, and purchaser, at sale hereunder, shall be subrogated to the lien of any prior encumbrance or vendor s lien on the Mortgaged Property paid out of the money secured by this Deed of Trust; and WHEREAS, Borrower agrees: (1) to perform promptly and fully all of Borrower s obligations under the Note as well as all of Borrower s obligations as landlord under any leases affecting all or any portion of the Mortgaged Property; (2) to pay all present and future taxes and assessments, general and special, against the Mortgaged Property before the same become delinquent or actionable; (3) to keep the Mortgaged Property insured as may be required from time to time by Lender against loss by fire and other hazards, casualties and contingencies, in such amounts and for such periods as may be required by Lender, and to keep all policies of insurance, together with all other policies of insurance, even though in excess of the amounts thereof hereinabove required, at any time in force and effect upon the Mortgaged Property, constantly endorsed with a standard noncontributory mortgagee clause in favor of Lender or assigns, with power to collect any money becoming due thereon and apply it, at Lender s option, either on the Indebtedness or upon the repair, replacement or reconstruction of the Mortgaged Property, and to deliver all such policies of insurance or certificates evidencing the same to Lender; (4) to pay all liens or claims that may take precedence over this Deed of Trust in any respect as become due; and (5) to keep the Mortgaged Property in good condition and repair and not permit any waste thereon or substantial alteration or deterioration thereof; and upon the failure of Borrower to keep any of said agreements, the holder of the Indebtedness or any part thereof may pay such tax, pay for such insurance, pay off such liens, or claims, or cost of repairs, or otherwise cure Borrower s failure, as the case may be, and the money so expended with interest at a rate selected by Lender, which shall not exceed the highest lawful rate, shall be secured by this Deed of Trust, and Borrower agrees to repay the same upon demand; NOW, THEREFORE, if the Indebtedness is paid when due and said agreements are kept, and all of Borrower s obligations under the Note are fully performed, this Deed of Trust shall become void and shall be released by Lender or assigns at the expense of Borrower; but if default be made in the payment of the Indebtedness, or any part thereof, principal or interest, or in the keeping of any of said agreements, the whole of the Indebtedness shall at the option of the holder thereof become due and Trustee, at the request of the holder of the Indebtedness or any part thereof, shall sell the Mortgaged Property or any part thereof at public venue to the highest bidder for cash at a front door (to be designated by Trustee) of the building then appointed for holding the Circuit Court of County, at, Missouri, first giving notice of such sale in the manner now prescribed by statute; and upon such sale Trustee shall convey to the purchaser the property sold and out of the proceeds of the sale shall pay: (1) the costs of sale, including reasonable attorneys fees, if any attorney be employed; (2) the moneys, if any, paid out by Lender or assigns as herein authorized; (3) the unpaid Indebtedness due Lender with interest to the date of sale; and (4) the balance, if any, to Borrower, Borrower s heirs, successors or assigns; and any conveyance so made shall be prima facie evidence of the facts recited therein.

4 If publication of notice of sale hereunder be withdrawn by request of Borrower, all expenses of Trustee with a fee for his attorney in preparation and publication of such notice shall be paid by Borrower on demand. No waiver of any breach of any agreement herein contained shall be taken as a waiver of any subsequent breach of the same or any other agreement and every right, privilege and option of Lender herein shall be continuing and may be exercised whenever authorized hereunder, as fully as on the first accrual of the right to exercise the same. The exercise option, power of appointment or substitution herein given may be through any executive officer for a corporation holder hereof, or the duly appointed attorney in fact of an individual holder hereof. This Deed of Trust is executed on the express condition that in the event of sale, transfer or conveyance of the property, or any interest therein, described herein by Borrower to any other person, corporation or entity without the written approval of Lender, or if Borrower shall make an assignment for the benefit of creditors, or if a receiver be appointed by Borrower or for any part of the property mortgaged hereunder, or if Borrower files any petition or institutes any proceedings or is adjudicated as bankrupt under any state laws for the relief of debtors or the federal bankruptcy laws of the United States, then, on the happening of any one or more of such events, the whole of the Indebtedness secured by this instrument may at any time thereafter be declared due and payable at once at the option of Lender. In the event of a sale hereunder, the abstract of title to the Mortgaged Property, if any, and all policies of insurance referred to above shall be assigned and delivered to the purchaser at such sale; and Trustee is hereby directed to make such assignment of insurance in the name of the insured in such policies. Borrower reserves possession of the Mortgaged Property as tenant of Trustee at a rental of one cent per month payable upon demand until default in payment of the Indebtedness or in the performance of any of the agreements stated in this Deed of Trust, whereupon possession shall be delivered on demand to Trustee or the purchaser at Trustee s Sale hereunder. Lender shall have the power successively to remove Trustee, or any successor Trustee, and to appoint in writing a Successor Trustee, which appointment shall be duly filed for record in the office of the Recorder of Deeds for the county in which the Mortgaged Property is located. Any such Successor Trustee shall succeed to the title and all of the rights and powers of the original Trustee. It is agreed that at any time after default in any payment of principal or interest due on the Indebtedness, or after default in the keeping of any agreement herein made, the then holder of the Indebtedness, or any part thereof, shall be entitled, at the option of such holder, as a matter of right, upon application to any court of competent jurisdiction, to have a receiver appointed to take charge of all or any portion of the Mortgaged Property, and to demand, collect and receive all rents and other income therefrom, and pay out the same as directed by the Court; and such receivership shall continue, in the event of foreclosure, until all right of redemption, if any, is

5 terminated. All the rents, issues and profits of the Mortgaged Property are hereby absolutely and unconditionally assigned, transferred, conveyed and set over to Lender. Prior to default in any payment of the Indebtedness or performance of the agreement stated in this Deed of Trust, Borrower shall collect and receive all rents, issues and profits as Trustee for the benefit of Lender to be applied in payment of the indebtedness. Borrower shall execute and deliver on demand, and hereby irrevocably constitutes and appoints Lender the attorney-in-fact of Borrower to execute, deliver and, if appropriate, file with the appropriate filing officer or office agreements, or other instruments which Lender may request or require to impose or perfect the lien herein granted. If all or any part of the Mortgaged Property shall be damaged or taken through condemnation (which term when used in this Deed of Trust shall include any damage or taking by any governmental authority and any transfer by private sale in lieu thereof), either temporarily or permanently, the Indebtedness shall, at the option of Lender, become immediately due and payable. Lender shall be entitled to all compensation, awards and other payments or relief therefor and is hereby authorized, at its option, to commence, therefor and is hereby authorized, at its option to commence, appear in and prosecute, in its own name, or in Borrower s name if Borrower fails to enter a timely appearance on its own behalf, any action or proceeding relating to any condemnation, and to settle or compromise any claim in connection therewith. All such compensation, awards, damages, claims, rights of action and proceeds and the right thereto are hereby assigned by Borrower to Lender, who, after deducting therefrom all its expenses, including attorney s fees, may release any moneys so received by it without affecting the lien of this Deed of Trust, or may apply the same in such manner as Lender shall determine to the reduction of the sums secured hereby, and any balance of such moneys then remaining shall be paid to Borrower. Borrower agrees to execute such further assignments of any compensation, awards, damages, claims, rights of action and proceeds as Lender may require. ORAL AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT ARE NOT ENFORCEABLE. TO PROTECT BORROWER AND LENDER FROM MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS WE REACH COVERING SUCH MATTERS ARE CONTAINED IN THIS WRITING, WHICH IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN US, EXCEPT AS WE MAY LATER AGREE IN WRITING TO MODIFY IT.

6 IN WITNESS WHEREOF, Borrower has executed this Deed of Trust the day and year first above written. BORROWER: STATE OF ) ) ss. COUNTY OF ) On this day of, 20, before me, the undersigned, a Notary Public in and for the aforesaid County and State, personally appeared, known to me to be the person who executed the foregoing DEED OF TRUST, and acknowledged to me that he executed the same for the purposes therein stated as his free act and deed, and further declared himself to be single and unmarried. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial seal at my office in, Missouri, the day and year last above written. My Commission Expires: Notary Public Printed Name