|
fs:� ".:•1w`�r� T.`4✓ _ - " '�:�'.i :..1�:.���:�!K.-.
<br /> � . : ,., �
<br /> .. . `�'�.�T_.` . ... - ._ — — <. �. _ _ _ 5 __ _
<br /> -�i �� _ ' t '.k{ { (` �' C _ r j.�� t
<br /> �r t n'"_ r+�. °4.' ' F t ' __ - .
<br /> <a'F_F £,,;,- ' - :.r �_,�C.'� c 5. -
<br /> �4
<br /> `'< _
<br /> . ,, •,F� ' i: .
<br />.. -t. . - .2:, ' �
<br /> ,�.
<br /> c � ,i • •
<br /> � h 1-
<br /> ... - � . '.\t��_
<br /> ��.��� A� . . �.
<br /> � �,f. Thie Deed of Trust shall secure: . g�� ��� �:�F�
<br /> ,'Y o• •v
<br /> � �a) Tlte payment of the principai sum and interest
<br /> � °��• : �•�� ev3deaced by Sorrower's Cons�ruct�on Line of Credli� _
<br /> ��.�:�;.:".. Dra� Note dated June 18 , 19 98 , havinq a �
<br /> � � , ?���.<` maturi�y 8ate of necsmber 15, 998 ,'�n the original :".
<br /> �_..:4�
<br /> .�;,_;. priACipal amount o Ei hi Thousand an No/100----Dollars �;
<br /> � ` f IS 80,_000.00,), aad any an a mo cat ons, extenaiona
<br /> - � °�-�'�� and renewa2s thereaf or there�o and a�y and ali fut�re
<br /> advances and readvancea hexeunder pursuant to nne or ��'
<br /> ���,�-�`����, more p�cmissory aotes or credit agreeiaenics lherein
<br /> ` " calied °Note")t �=�
<br /> �
<br /> ...'•�a� '� � (bj The payment aE other saias a8nancea by Lender _ _
<br /> � �.'-�'� to protect the security of the Note; _
<br />. —7`t,� ' , 'f�•..'. '
<br /> r..;
<br /> � � ��� (c) Tbe •performance of aIl covenants an3 aqree-
<br /> �s: . . �; :
<br /> . .,.;.
<br /> `•- t:�.t:T.- ments of Borrcwe�c set forth hereint and
<br /> ::;. ..;: ,
<br /> ��� (d) All indebtedness and obliq�tions of Boz�ower
<br /> ..::x;.��, } to Lender whether direct, indirect• absolnte o; con- .
<br /> :�.`�.: -�. tinqent and whether arisinq by note, qnaranty, over- . .
<br /> ; ; ,�: draft or otherwise advanced for the purpase of making
<br />���� �� � ��` impron�euts to the real estate here3.nabove described.. .: : .
<br /> �'�`�� `�,�- �>` � The Note, and any and aI3." o�hes documents that secure� � .__.
<br /> •���: . . . �
<br /> '•�•`� � ' .�.:.v:�r,� ���l�t,e Note or oth�ise executed i� connection therewitla, . -.
<br /> •.;.��:£r ��s�luding. with�uttt limitation, gaaraatees, security . . , .
<br /> � ""` � " a�reements and ,assig�aen�s of leases and rents, shall : . .
<br /> ���1��'�±��� �-�.�� � � 1be ref�rred to herefn as the "Loan Instruments." "
<br />-'- (F/��'; :__, ��,.y . : � . - � ��� �—
<br /> t' 6:t�..r rt.:-...._ .
<br /> �� ��.�.° ,�, ''�` � „�3orrowex, to pa��ect the security of thia Deed�.o� Trust,
<br /> ..,�.�,�•r, ;,:. :•.,� . .
<br /> ;`.�t"• ` ."�Yk� .cove�i3��s and agr�s�,s�.th Leader as fea�lows: .
<br /> �i • _
<br /> 3� ,k�,,' .C •�f h .. . . . . �:. ' ' . '.. .
<br /> C� S
<br />-�.,t„��ri�.'.� . 1. Pa aat� of PriYaci ai and In�erest. Sorrower shall
<br /> .•����;...
<br /> :���: .." ���" � promptly pay when d�ae e p nc pal of and nterest on, anS any
<br /> ' � ' .� : fees or charqes provided ia, the Note or ia this Deed of Txust.. - . '
<br /> � � � � 2. Ti�le. Borrcwer is the owner of, the Prapertp a�d
<br /> --• -----= has the right and suthority to convey the Psoperty. � . _
<br /> � . � :� 3. Taxea Asse�ainents. Except when they are con- •
<br /> �� � :.�:.�' tested in qood f�a'�t� , to pay when 8ue �11 taxes, specfal assess-
<br /> � � ments and all other charges aqainat the Property and, upon
<br /> �' � il" ..�1 written demand by Lender, to gay to Lender such amount as u�ay be
<br /> . �. �. sufficient to enab2e tbe Lender to pay such taxea, assessments or
<br /> �� � other charqes as they beaome due. �
<br /> �� � � �'. � ���� 4. Insurance. At the beginufng of construction or
<br /> . ,:.. �.,;�� .�..
<br /> renovation of bu 1�di q to keep the Property �nsured against
<br /> � . damage by fire, hazards inclnded within the term "all risk
<br /> . • . � ��'` , cov�sage", and such other hazards as I.ender may require, in
<br /> amc��ts and with co�spanies acceptable to Leader, including •a
<br /> . ��� standard mortgagee ciause� with loas payable to the �ender. . In
<br />- � case of losa under such poliaies, fhe Lender is authorized to -
<br /> • adjust, collect and compramise all clairas therewtder and ahall _
<br /> . �� . � ., hav� the option of applyi.ag all or part of the inswrance pzoceeds _
<br /> � � �f? to any indebtedneas secured hereby and in such or8er as _
<br />- , Lender may determine, lii) to the Borrower to be used for the
<br /> � repair or restoration af the Property or (iii) for any other �.
<br /> . . �, •=�, .�. .
<br /> purpose or object satiafactory to Lender without affectinq the � -
<br /> � lien of tbis Deec3 of Trnst.for Y.he full amount secured hereby [
<br /> • ���;� before such payment ener took place. Aap appiicatton o� proceeds � -
<br /> � � . • to indebteclness shall not extend or postpoae the aue da�e of any -
<br /> --. .--;=��-�°==, payiuenta undes the Note, or cnre any default thereunder or here- � �
<br /> .. .. under. �
<br /> . , g
<br /> r
<br /> � � 5. Maintenance Re airs and Co liance with Laws. "
<br /> � ' Borrower shall eep e Property n gao con t on � repa r= �
<br /> -�- • . shall pzomptly repafr or replace any improvement which may be �
<br /> °- -_-. damaged or destraye8� ahall not cam�nit or permit any waste vr _
<br /> � deterioration of the Property� slsall not remove, demoliah br t
<br /> �� � � ��� substantially alter any of the improventents on t he Proper ty; �
<br /> -� � . � • shall not con¢n�t, suffer or pezmiti aay act to be done in or upon
<br /> � -: -- [
<br /> =�.T .- �_..-��:.�1 .-2- {.
<br /> _;; . , . . _
<br />
|