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2024 CDBG Subrecipient Agreement <br />Deed of Trust <br />Exhibit "E" <br />5. To pay all costs, fees and expenses in connection with this Deed of Trust, including the expenses <br />of the Trustee incurred in enforcing the obligation secured hereby and Trustee's and attorneys' <br />fees actually incurred, as provided by statute. <br />Should Grantor fail to pay when due any taxes, assessments, insurance premiums, liens, <br />encumbrances or other charges against the Property hereinabove described, Beneficiary may pay <br />the same, and the amount so paid, with interest at the rate set forth in the Note secured hereby, <br />shall be added to and become a part of the debt secured in this Deed of Trust. <br />IT IS MUTUALLY AGREED THAT: <br />1. Except as otherwise set forth in the Loan Agreement or the Note, in the event any portion of the <br />Property is taken or damaged in an eminent domain proceeding, the entire amount of the award <br />or such portion as may be necessary to fully satisfy the obligation secured hereby, shall be paid <br />to Beneficiary to be applied to said obligation. <br />2. By accepting payment of any sum secured hereby after its due date, Beneficiary does not waive <br />its right to require prompt payment when due of all other sums so secured or to declare default <br />for failure to so pay. <br />3. The Trustee shall reconvey all or any part of the Property covered by this Deed of Trust to the <br />person entitled thereto on written request of the Grantor and the Beneficiary, or upon <br />satisfaction of the obligation secured and written request for reconveyance made by the <br />Beneficiary or the person entitled thereto. <br />4. Upon the occurrence of default by Grantor in the payment of any indebtedness secured hereby <br />or in the performance of any agreement contained herein, all sums secured hereby shall, at the <br />option of the Beneficiary, immediately become due and payable in accordance with the <br />Community Development Block Grant Agreement, the Note, this Deed of Trust, and any other <br />loan documents (collectively, the "Loan Documents"). In such event and upon written request of <br />Beneficiary, Trustee shall sell the trust Property, in accordance with the Deed of Trust Act of the <br />State of Washington, at public auction to the highest bidder. Any person except Trustee may bid <br />at Trustee's sale. Trustee shall apply the proceeds of the sale as follows: (1) to the expense of the <br />sale, including a reasonable Trustee's fee and attorneys' fee (2) to the obligation secured by this <br />Deed of Trust; and (3) the surplus, if any, shall be distributed to the persons entitled thereto. <br />A. Curing of Monetary Default. If a monetary event of default occurs under the terms of any <br />of the Loan Documents, before exercising any remedies thereunder, Grantee shall give Grantor <br />written notice of such default. Grantor shall have a period of ten (10) days after such notice is given <br />within which to cure the default before exercise of remedies by Grantee under the Loan Documents, <br />or such longer period of time as may be specified in the Loan Documents. <br />A default in payment of any amount due hereunder may be cured only by payment in full of such <br />amount plus the interest accrued from the date of default, as stated above, on the unpaid principal <br />Page 3 of 8 <br />