Common use of Superior Lien Clause in Contracts

Superior Lien. If Trustor fails to pay any installment of principal or ------------- interest or any other sum due under any mortgage, deed of trust, security deed or other lien superior in lien to the lien of this Deed of Trust, as the same becomes due and payable, Beneficiary may, at its option, pay the same, and Trustor shall upon demand reimburse Beneficiary for all sums so expended by Beneficiary, with interest at a rate per annum equal to the Default Rate. All such sums expended by Beneficiary, with interest, shall be secured by this Deed of Trust.

Appears in 6 contracts

Samples: Deed of Trust (Discovery Investments Inc), Deed of Trust (Discovery Investments Inc), Deed of Trust (Discovery Investments Inc)

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