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The term Beneficiary shall mean the holder and owner of the note secured hereby, whether or <br /> not named as Beneficiary herein. <br /> GRANTOR FURTHER AGREES: <br /> 1. Grantor will perform each and every obligation contained in the CDBG Contract and <br /> any amendments thereto. <br /> 2. If Grantor shall fail to perform any obligation hereunder and the Beneficiary elects to <br /> perform the same and expends any monies therefor, such expenditure shall be deemed in <br /> addition to the amount secured by this deed of trust and be immediately due and payable in <br /> accordance with the loan documents. <br /> 3. If Grantor fails to make payment on the sum secured hereunder when due, or <br /> defaults under the terms of the foregoing CDBG Contract, the whole indebtedness secured <br /> thereby shall be due and payable in accordance with the loan documents and the Beneficiary <br /> may proceed to foreclose this Deed of Trust. If the Beneficiary shall incur any costs and <br /> expenses, including reasonable attorneys'fees and costs of any title reports, in connection with <br /> the performance of any of its rights hereunder including foreclosure, such costs and <br /> expenditures shall remain secured by this Deed of Trust and shall be immediately due and <br /> payable by Grantor. <br /> GRANTOR: <br /> a Washington non-profit corporation <br /> By: <br /> Date: 00/00/00 <br /> ACKNOWLEDGEMENT <br /> STATE OF WASHINGTON ) <br /> )ss. <br /> COUNTY OF SNOHOMISH) <br /> I certify that I know or have satisfactory evidence that <br /> is the person who appeared before me and said person acknowledged that he/she signed this <br /> instrument, on oath stated that he/she was authorized to execute the instrument and <br /> acknowledged it as the <br /> a Washington non-profit corporation, to be the free and voluntary act of said corporation for the <br /> uses and purposes mentioned in the instrument. <br /> GIVEN under my hand and official seal this day of , <br /> NOTARY PUBLIC in and for the State of Washington, <br /> Residing at <br /> My Commission expires: <br /> -Seal or Stamp- <br /> Page 3 of 5 <br />