Trust Indenture/H&H Enterprises Lot 22MONTANA TRUST INDENTURE
THIS TRUST INDENTURE, Made this 8th d.. ,f August , 1997, between H&H Enterprises whose a- ess is 432 East Idaho, Kalispell, MT 59901, as
G1QANTOR, and C. Mark Hash, an attorney licensed to practice law in the State of Montana, 136 1st Avenue West, P.O. Box 1178, Kalispell, MT 59903, as
TRUSTEE, and the City of Kalispell, Office of Finance Department, whose address is P.O. Box 1997, Kalispell, MT 59903-1997, as BENEFICIARY.
WPfNESSETH: That Grantor hereby irrevocably GRANTS, BARGAINS, SELLS, CONVEYS AND WARRANTS TO TRUSTEE IN TRUST, nevertheless,
WITH POWER OF SALE that certain real property, which does not exceed thirty (30) acres in area, situated in the County of Flathead, State of Montana,
particularly described as follows,
Lot 22 of TETON TERRACE, according to the map or plat thereof on file and of
record in the office of the Clerk and Recorder of Flathead County, Montana.
THE REAL PROPERTY or its address is commonly known as 9 Iris Court, Kalispell, Montana 59901.
TOGETHER WITH: (1) All buildings, fixtures and huprovements thereon and all water rights, rights -of -way, tenements, hereditaments, privileges and
appurtenances there unto belonging, now owned or hereafter acquired, however evidenced, used, or enjoyed with said premises or belonging to the same; (2) All
right, title and interest hereafter acquired In or to any of said premises, hereby also releasing, relinquishing and waiving all exemptions, rights of elective share
and homestead, in or to said premises, vested or inchoate; (3) All heating, air conditioning, plumbing and lighting facilities, equipment and fixtures now or
hereafter installed upon or within said premises, used or proper or necessary to constitute, the said premises as a habitable, usable or operating unit -all of said
property being designated and deemed for the purposes of this instrument as a part of the realty; and (4) All of the rents, Issues and profits of said premises,
SUBJECT, HOWEVER, to the right, power and authority hereinafter conferred upon Beneficiary to collect and apply such rents, Issues and profits;
FOR THE PURPOSE OF SECURING: (1) Payment of the principal sum of Ten thousand and no/100 Dollars ($10,000.00) with interest thereon according to
the terms of a promissory note, dated August 8, 1997 , and any extensions and/or renewals or modifications thereof, made by Grantor payable to the order of
Beneficiary; (2) Payment of all sums expended or advanced by Beneficiary raider or pursuant to the terms hereof, together with interest as herein provided; and
(3) performance of each agreement of Grantor here in and in said note contained. Grantor hereby acknowledges that the real property in
which a lien is being granted to lender is not exempt from execution as a homestead, because under Montana statutes, Section
70-32-202, it is subject to execution or forced sale to satisfy a judgement obtained on indebtedness secured by a trust
indenture or other encumbrance on the premises.
M.
RESTRICTIONS ON SALE: Beneficiary may, at its option, declare inmiediately due and payable all sums secured by this Deed of Trust upon the sale or
transfer, without the Beneficiary's prior written consent, of all or any part of the Real Property or interest in the Real Property.
To protect the security of this Trust Indenture and for other purposes, Grantor agrees:
By the execution of this Trust Indenture and the Note hereby secured that provisions 1 through 22 of the Trust Indenture recorded October 2, 1996 under
Reception #9627616550 records of Flathead County, Montana, shall be and they are hereby incorpornted and made an integral part hereof for all purposes as
though set forth herein at length.
IN WITNESS WHEREOF, the Grantor (has) (have) hereunto set (his) (her) (its) (their) hands the day and year first hereinabove written.
H & H Enterprises
By
Randy C. Beavers, Trustee
STATE OF MONTANA)
ss.
County of Flathead �j )
On this -01 d Hof
19��, before me, the undersigned, a� Notary Public for the State aforesaid, personally
appeared
whose name(s) /s subscribed to the within instrument, and acknowledge to me that
same'��r;,
IN WITNES��$ .6U 09 �ifGu
00
;`nA �® AUB 1, GC'
•
Doe
®®®t. ®y rsr 1
STATE OF MONTANA )
ss.
County of Flathead )
Recorded at the request of
19
FEES
RECEPTION NO.
N-VAIRR1f11CI
TAXES
Pd.
7p—r"Y .
set my hand and affixed my Notarial
Signatureof Notary
Notary Pubticl�(�
Residing at
at o'clock
County Clerk and Recorder
Deputy
day and year first above written.
!mown to me to be the person(s)
executed the
this day of
M and recorded in the records of Flathead County, State of Montana.
737
14�-
DO NOT RECORD
The lelbrewhigh a copy of Prevlsiaas 1 through 22 which are Incor d by reference In the Trust indenture appearing on the reverse side her
TO PROTECT THE SECURITY OF THiS TRUST ih-ENTURE, AND FOR OTHER PURPOSES, GRANTOR AGREES:
1. To keep said prop" In past condition and repairl net to remove or demolish any building thereon; to complete and restore promptly and Ina pod and workmmdlko unions any
which asq be constructed, damaged or destroyed thereon, and to pay when due all claims for labor performed and materials Mrelstwd Aenafore; to comply with all lows, eowonMs and restricts~
affecting said property; not to commit or permit wash thereof, not to commit, Miller or permit any ad upon said property In violation of tin hew; to do all other sett which from flootherischarer we ofsaN property
aaq be reassuably nations, the specific enumerations herein not excluding the gmoral; and, If the loan secured hereby or any part thered it beft obhfno l for do purpose oftbandng conistrodke of
lowest M sald propel., Grantor Mrther agrees:
(a) To comments, coaarineAlon promptly and to pursue the nine with reasonable diligence to completion In accordance with plane and specifications h Me Beneficiary, and
(b) To allow Beneficiary to Inspect said property at an Hoes during construction,
Trucks. apM presentation to It otan affidavit signed by Beneficiary, setting forth facia showing a default by Grantor under this numbered paragraph, Is authorized to accept as tressed cowdestwe
all each and theseln, and to ad thewn as provided In this Instrument and as allowed by law. '
2. To provide, maintain and deliver to Beneficiary, insurance of such type or types and amounts as Beneficiary may require, on the larpromemands now existing or hereafter erected or
placed on said prop". Such Insurance shall be cried In companies approved by the Hime nary with loss payable clause In favor of and in form acceptable to Beneficiary. In do event oflese, Grander Ong gtn
kmwdbft sake to Beartichn7, who may make proof of kiss, and each Insurance company concerned Is hereby authorized and directed to make payment for each less dtroeAy N Beneficiary instead off* Greater
mod Bastroduryjolowdy, and the insurance proceeda, or any part thereof, may be applied by Beneficiary, at Its option, to the reduction of the indebtedness hereby secured or m tiw rerforstion or repair ofrho
Pr'oPeab dumagnL
A To deliver to, pay for and maintain with Beneficiary until the Indebtedness secured hereby Is paid in full, such evidence oftitie as Beneficiary may require, latchading abstracts odtbfe or
pollicks oftildo hunimaceand any extension or renewals thereof or supplenaentf thereto,
C To pay before delinquent all taxes and assssment#, Including Interest and penalties, affecting sold premises and linprovennnta to prompilly pay end
cbwgumdNmom=MprspeMwtikhat=Vthmamwappeartobe,priworsupwlorhwMo. In additions to the payments due In adiardsocas with the forms dtho note bursby sm , arod, Cr r sM%strho
ordw awl M distend ofthe Beneficiary, pay to the Beneficiary monthly and concurrently with payment of principal and Interest, a sum equal to oiwtwefffh (1/12th) of tke tntos6
presidents. mab*mauft and othor charges upon the property, at estimated by the Beneficiary, in trust nevertheless for Crantor's use and benefit and for payment by Bersellclary of say each Nets when doe The
fallen of G srM to make asp of each paymmh than constitute a default under this trust.
S. Except as otherwise expressly provided herein, to pay an arts, fees and expenses of this trust, Including cost of ocarch and adde icia of tW advertising and recording
documentary taxa and Trusteo's and attorneys fen as allowed by law.
6. Should Grantor fan to make any payment or to do any ad as herein provided, then Benefletary or Trusts, without obligation so to do and wfthM notice to or demand upon Grantor
and without relkadwalf Granter from any obligation hereof, may make or do the nine In such manner and to such extent as either may doom nocersary to protect the sees" hertall, Beneficiary or Trusted being
sarthorized h oast upon told property for such purposes.
7. To pay Immediately and without demand all sums expended hereunder by Beneficiary or Trustee, with Interest frown date of expenditure at the highest rah permissible under Montana
few tmta paid, and the payment thereof shell be secured hereby.
iT 13 MUTUALLY AGREED THAT-
& without affecting the liability of any person, Including Grants, for the payment of any, Indebtedness secured hereby, or the lien of this Trust Indenture on the remainder of the
property forthe fall amount ofa ty Indebtedness unpaid, Beneficiary and Trustee are respectively empowered as follows: Beneficiary may iron time to time and without notiee:
(a) Release any person liable for the payment of any ofthe Indebtedness,
(►) Extend the that or otherwise after the terms of payment of any of the Indebtedness.
(c) Alter, substitute or release any property securing the Indebtedness;
Trustee may, at any time and from Hoe to fime, upon the written request of Beneficiary:
(a) Consent to the making ofany map or plat of the property,
(b) Join In granting any easement or creating any restriction thereon,
(e) Join In any subordination or other agreement affecting this Trust Indenture or the lien or charge thereof,
(d) Reconvey, without warranty, all or any part ofthe property.
98. Both parties agree that Beneficiary may, If Beneficiary to clads, procure and thernfler continue during the tom of this Indenture, for as long as Beseffdxy, desf es, a farm of
Insurance acceptable to Beadidary Insuring Beneficiary against any lost sustained by Beneficiary by reason of any default In payment by Grantor ofthe secured Indebtedness. It Beneficiary doid to procure such
Granter shall promptly reimburse Beneficiary the full amount of the Initial premium for such insurance. During the term of this Indenture, Grantor than each month deposit In escrow with
1/12th artists next following anticipated annual premium for such insurance, said deposit to be made at the same time and place as Grantor nukes monthly payments on the aforementioned pramissary
noft, Beneficiary anp thereafter pay all annual renewal premiums from such ascrew. Should the amount deposited In escrow be Insufficient to pay any renewal premtum he fan as the same became din, Grantor
ski upen demand deposit with or pay to Beneficiary such additional amount as may be sufficient to pay the renewal premium In Mil. Failure of Grants to pay or deposit any ofthe s referred
to bereln shall c urtNuto a default ofthe terns ofthis indenture. Grantor further agrees to deposit In escrow with Beneficiary 1/12th of the annual premium for hazard insurance average and annual taxes and
anessmmtr each month. Failure of the Granter to deposit any of the above amounts in the escrow account shall constitute a default ofthe terms ofthis Indenture.
9b. Upon written request of Beneficiary stating that all sums secured hereby have been paid, and upon surrender of this Trust indenture and said note to Trustee for cancellation and
retention and upon payment by Beneficiary affix fees, Trustee shall reconvey to Grantor, without warranty, the property then held hereunder.
10. As additional security, Grantor hereby assigns to Beneficiary,, during the continuance of these trusts, all rents, Issues, royattka, and profits ofthe property affected by this Trust
Indenture and strop personal prop" located thereon. Until Grantor shall default in the payment of any Indebtedness secured hereby or In the performance arm" agreement hereunder, Granite shall have the
right to caned an such rents, Isses, royalties, andpronts tamed prior to default as" become due and payable. if the Grantor shall default as aforesaid, Grantees right to coiled any of rack monks shall mst
and Bmetkiary shelf have the right, with or without taking possession of the property affected hereby, to coiled all rent, royalties, issues, and profits. Failure or discontinuance ofBenefkbry at any lime erfrom
does to tInw to anent any such monies shall not in any manner affect the subsequent enforcement by Beneficiary of the right, power, and authority to coiled the same. Ne""gcmdWnedhereKnwttwexerdsoof
The right by Beneficiary to called, shall be, or be construed to be, an affirmation by Beneficiary of any tenancy, lease or option, nor an assumption of liability undo, nor a subordination ofthe Ban or charge of this
Trust Indenture to any such tenancy, lean or option,
it. Upon any default by Grantor hereunder, Beneficiary may at any time without notice, either in person, by agent, or by a receiver to be appointed by a court, (Greater hereby consenting
to the appointment of Beneficiary as such recehwN and without regard to the adequacy of any security for the Indebtedness hereby secured, either upon and take possession of sold property or sip part thereof, In
Its own name sue for or otherwise coiled sold rents, Issues, and profits, including those past due and unpaid, and apply the same, less cost and expenses of operation and collection, Including reasonable attorney's
fees, upon any Indebtedness secured hereby, and In such order as Beneficiary may determine.
12. The entering upon and taking possession of said property, the collection of such rents, issues, and profits, or the proceeds office or other Insurance ptiklos, or compensation or awards
for any taking or damage of said property, and the application or release thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or Invalidate any ad done pursuant to such notice.
13. Time Is of the essence hereof. Upon default by Grantor In the payment of any Indebtedness secured hereby or In the performance of any agreement hereunder, all sums secured hereby
shah immsdhttly botnme due and payable at the option of the Beneficiary. in the event of such default, Bevnenciary, may execute or cause Trusts to execute a written notice of default and of efectlorn to cause such
property to be sold to satisfy the obligations hereof, and Trustee or Beneficiary shall file such notice for record, In each county wherein said property or some part thereefla sNnaled. Beneficiary shall also deposit
with the Trustee, the note and all documents evidencing expenditures secured hereby.
14. After the lapse of such time as may then be required by law following the recordation of said notice of default and of election to cause said property to be sold, and notice of default and
notice of sale having been given as then required by law, Trustee, or its attorney, without demand on Grantor, shall sell said property on the date and at the time and place designated In said notice of sale, either as
a whole, or In separate pawls, and In such.order as it may determine (but subjed to any statutory right of Grantor to direct the order In which such property, If consisting of several know late or parcels, than be
sold), at public auction to the highest bidder, the purchase price payable In ash In lawful money of the United States at the time of sale. The person conducting the oak may, for any cause be deems expedlent,
postpone the ask for a period not exceeding fifteen (15) days by public proclamation by such person of the time and place fixed in the notice of sets, and no other notice *(the postponed sets need be given. Trustee
shalt execute and deliver to the purchaser Its deed conveying said property to sold, but without any covenant of warranty, express or implied. The recitals In the deed of any matters or fads shall be oondusive
proof ofthe truhhMMns thereof. Any person Including Beneficiary (but excluding Trustee) may bid at the sale. After deducting all costs and expenses of exercising the power of sale and of the sale, Including cost
ofsearch and evidence oftitte, advertising and recording expense, documentary taxes and Trustees' and attorneys' fees. Trustee shall apply the proceeds of sale to payment of an amounts secured hereby and due
bee ander, Including an sums expended by the Trustee and Beneficiary, or efther of them, with accrued Interest thereon at the highest rate permissible under Montana law from the data of expenditure thereof,
and the surplus, Nary, to the person or persons legally entitled thereto; provided that the Trustee, in Its discretion, may deposit such surplus with the County Clerk and Recorder of tiro county In which the sale
took place.
15. Grantor agrees to surrender possession of the hereinsbove described trust property to the purchaser at the aforesaid sale on the tenth (10th) day following said sale, In the event such
possession has not previously been delivered by Grantor.
16. Each abstract of title, title insurance policy and all other evidences of title, and all hazard Insurance policies placed or deposited with the Beneficiary shall he deemed an Incident to the
title to the trust property and upon foreclosure by exercise of power of sale, or otherwise, shall pass to the purchaser and the same are hereby pledged as additional security far payment of the Indebtedness
secured hereby.
17. Upon the occurrence of any default hereunder, Beneficiary shall have the option to declare all sums secured hereby Immediately due and payable and foreclose this Trust Indenture In
the manner provided by law for the foreclosure of mortgages on real property and Beneficiary shall be entitled to recover In such proceedings all costs and expenses Incident thereto, Including a reasonable
attorney's fee In such amount as shall be fixed by the court.
Is. Except as may be otherwise provided herein, Grantor agrees to pay to Beneficiary or Trustee the costs and expenses, Including a reasonable attorney's fee, Incurred by either of them In
Instituting, prosecuting or defending any Court action lit which Grantor does not provaii, If such action involves the Interpretation hereof or performance hereunder by a party hereto or the breach of any provision
hereof by a patty hereto, Including but not limited to an action to obtain possession ofthe above described property after exercise of the power of sale granted hereunder.
19. This Trust Indenture shall apply to, Inure to the benefit of, and shall bind all parties hereto, their heirs, devisees, administrators, personal representatives, successors and assigns. All
obligations ofGrantor hereunder are joint and several. The term "B nefidary" shall mean the owner and holder, Including any pledgee, of the note secured hereby. In this Trust indenture, whenever the context
to requires, the masculine gender Includes the feminine and/or neuter, and the singular number Includes the plural.
20. Trusts accepts this Trust when this Trust indenture, duly executed and acknowledged, Is made public rood as provided by law. Trustee Is not obligated to-wtttjr any party hereto of
a pending sale under any other trust Indenture or of any action or proceeding in which Grantor, Beneficiary, or Trustee shall be a party, unless brought by Trustee.
21. This Trust Indenture Is made within the able of Montana pursuant to the Small Tract Financing Act of Montana and is not made or taken in substitution for any mortgage In existence
on the effective date of said Ad.
22. Grantor requests that a copy of any notice of default and of any notice of tale hereunder be mailed to him at the address heeeb above set forth.
REQUEST FOR FULL RECONVEYANCE
TO: TRUSTEE ]9
The undersigned is the legal owner and holder of the note and all other Indebtedness secured by the within Trust Indenture. Said note, together with
all other indebtedness secured by said trust Indenture, has been hilly paid and satisfied and you are hereby requested and directed on payment to you of any
sums owing to you under the terms of said trust Indenture, to cancel sold note above mentioned and all other evidences of Indebtedness secured by said Trust
Indenture delivered to you herewith, together with said Trust Indenture, and to reconvey, without warranty, to the parties designated by the terms of said Trust
Indenture, all the estate now held by you thereunder.
Mall reconvgance