This Deed of Trust, Made this 10th day of June, Nineteen Hundred and Three, between Eliza Donovan, an unmarried woman, of Los Angeles, California, the party of the first part, and the Title Insurance & Trust Company, a corporation, party of the second part, and the State Mutual Building and Loan Association, a corporation, party of the third part.
Witnesseth : That, whereas, the said first party has borrowed of the said third party certain moneys in Gold Coin of the United States and has agreed to repay the same with interest in the manner and at the time mentioned in that certain promissory note of which the following is a copy, to-wit: $1300 Los Angeles, Cal., June 10, 1903.
On or before nine years after date, without grace, for value received, I promise to pay to the State Mutual Building and Loan Association, a corporation, or order, at its office in the City of Los Angeles, County of Los Angeles, State of California, the sum of Thirteen Hundred Dollars, with interest thereon from the date hereof, at the rate of twelve per cent, per annum, and in addition thereto the sum of $7.80 monthly dues; all of said sum of interest and dues to be paid monthly on the first day of each and every month, from the date hereof; and in default of any of such payments on or before the tenth day of the month in which the same becomes due, I agree to pay the sum of $1.30 for each month of such delinquency, as a fine; and should interest and dues not be paid monthly, then the whole sum of principal, interest, dues and such fines shall become immediately due and payable at the option of the holder of this note. All of such payments to be made in Gold Coin of the United States. This note is secured by a Deed of Trust of even date herewith.
Now, Therefore, This Indenture Witnesseth : That the said party of the first part, in consideration of the aforesaid indebtedness to the party of the third part and of One Dollar to her in hand paid by the party of the second part, the receipt whereof is hereby acknowledged; and for the purpose of securing the payment of said promissory note, and of any sum or sums of money, with interest thereon, that may be paid or advanced by, or may otherwise be due to, the party of the second or third part under the provisions of this Instrument, does by these presents grant, bargain, sell, convey and confirm unto the party of the second part, and to its successors and assigns, that piece or parcel of land situate in the City of Los Angeles, County of Los Angeles, State of California, described as follows:
Lot Three Hundred Seventy-eight (378) of the Alexandre Weill Tract, as per map recorded in Book 26, pages 85 and 86, Miscellaneous Records of said County.
To Have and to Hold the same with all appurtenances to the party of the second part and to its successors and assigns, upon the Trusts and confidences hereinafter expressed, to-wit:
Firstly. - During the continuance of these Trusts, the party of the third part and the party of the second part, their successors or assigns, are hereby authorized to pay without previous notice all liens or incumbrances now subsisting, or that may hereafter subsist, upon said premises, except taxes or assessments on this Trust Deed or the money secured hereby, which may in their judgment affect said premises or these trusts, at such time as in their judgment they may deem best or in their discretion for the benefit and at the expense of said party of the first part; to contest the payments of such liens or incumbrances, and to institute or deflend any suit or proceeding that they may consider proper to protect the title to said premises; and insurance shall be maintained on the buildings on the premises to the satisfaction of the party of the third part at the' expense of the first party; and these Trusts shall be and continue as security to the parties of the second or third part, or their assigns, for1 the repayment, in Gold Coin of the United States, of the money so borrowed by the said party of the first part, and the interest thereon, and of all amounts so paid out and costs and expenses incurred as aforesaid, whether paid by the party of the second or third part, which shall be repaid on demand, and if not so paid, shall bear interest at the rate of two per cent, per month thereafter until paid.
Secondly. - In case the said party of the first part shall well and truly pay, or cause to be paid, at maturity, in Gold Coin, as aforesaid, all sums of money so borrowed, as aforesaid, and the interest thereon, and shall upon demand repay all other moneys secured or intended to be secured hereby, then the party of the second part, its successors and assigns, shall reconvey all the estate in the premises aforesaid granted by this instrument unto said Eliza Donovan, her heirs or assigns, at her request and cost.
Thirdly. - If default be made in the payment of any of the sums secured by this Trust Deed when due, by the terms of said promissory note or this instrument, then the whole of said sums shall become immediately due and payable at the option of said third party, its successors or assigns. And the said second party, when notified so to do by said third party, shall proceed at once to advertise and sell said property at public auction to pay the several sums hereby secured and expense of sale, including Fifty Dollars, counsel fees. Notice of the time and place of such sale, with a description of the property to be sold, shall be published at least once each week for four successive weeks in some newspaper published in the City of Los Angeles, California, at which said city such sate shall be made. If the property to be sold is situated in any county other than Los Angeles, then a similar notice shall also be published in some newspaper in the county where said property is situated. Said sale may be postponed from time to time by publication, and on the day of sale so advertised or any day to which the same may be postponed, said second party shall sell the property so advertised at public auction to the highest bidder for cash, Gold Coin of the United States, and any party hereto, their successors or assigns, may purchase at such sale. And the said second party, after payment to it of all the sum so bid at such sale, shall execute and deliver to the purchaser, his heirs or assigns, a Deed of Grant, Bargain and Sale, conveying to him the above granted premises, and out of the proceeds thereof shall pay, first, the expenses of making such sale including $50.00 counsel fees; next, shall nay said third party the entire sum due it at the time of such sale, if said proceeds be sufficient, and lastly, any surplus remaining shall be paid to said first party, her heirs or assigns.
And in the event of the sale of said premises or any part thereof, and the execution of a deed or deeds thereof under these Trusts, then the recitals therein of default, publication, sale and receipt of the purchase money, shall be conclusive proof of such default and the due publication of such notice of the sale to the highest bidder, receipt of the purchase money and execution of the deed to the purchaser, and any such deed or deeds with such recitals therein shall be effectual and conclusive against the said party of the first part, her heirs or assigns, and all other persons; and the receipt for the purchase money contained in any deeds executed to the purchaser, as aforesaid, shall be a sufficient discharge to such purchaser, from all obligation to see to the proper application of the purchase money, according to the Trusts aforesaid, and such purchaser, on the production of such deed, shall be entitled to the immediate possession of said premises.
This Deed of Trust, in all its parts applies to and binds the heirs, administrators, executors, successors and assigns of all and each of the parties hereto.
In Witness Whereof, the party of the first part has hereunto set her hand and seal the day and year first above written.
Eliza Donovan. (Seal) The foregoing trust is hereby accepted.
Title Insurance & Trust Company. (Seal) O. P. Clark, Secretary.
State of California, County of Los Angeles, ss.
On this 10th day of June, in the year of our Lord one thousand nine hundred and three, before me, Samuel Bristow, a Notary Public in and for the County of Los Angeles, State of California, residing therein, duly commissioned and sworn, personally appeared Eliza Donovan, known to me to be the person described in and whose name is subscribed to the foregoing instrument, and she acknowledged to me that she executed the same.
In Witness Whereof, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. (Seal) Samuel Bristow,
Notary Public in and for Los, Angeles County, State of California.
Deed of Trust; 154; compared; Eliza Donovan to Title Insurance and Trust Company, in trust for State Mutual Building and Loan Association. Dated June 10, 1903.
Recorded at request of Grantee, June 10, 1903, at 43 minutes past 1 p. m., in Book 1802, page 239, of Trust Deeds, Los Angeles County Records. Calvin Hartwell, County Recorder: by R. L. Hazen, Deputy. Fees $2.10.