Common use of Other Encumbrances Clause in Contracts

Other Encumbrances. Trustor will pay or perform before delinquency all obligations under any prior or subordinate mortgage, deed of trust, agreement of sale, or any other lien or encumbrance other than the Approved Title Exceptions (collectively called an “Encumbrance”), and will not permit any consensual or non-consensual liens, mortgages, deeds of trust, agreements for sale, or security interests, other than the lien of this Deed of Trust and the Approved Title Exceptions, to be placed on any part of the Trust Property without the prior written consent of Beneficiary. If any Encumbrance is in default for any reason, Beneficiary may cure such default without notice, and the cost of curing such default, with interest at the Default Rate set forth in the Note, will be secured by this Deed of Trust. All amounts paid by Beneficiary under this Paragraph 27 will be added to the Obligations and may be collected from Trustor upon demand at any time after the advances are made, and the holder of the Deed of Trust will be subrogated to the rights of any lienholder so paid. Immediately upon receiving any knowledge or notice of any default or claimed default under any Encumbrance, Trustor will give written notice to Beneficiary.