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<br /> , This Deed of True t ahall aecure: 97- 1CI661S :
<br /> (a) The payment oF the principal eum an�i interest .
<br /> evidenced by eorrower's Conetruction Line oE Credit .
<br /> Draw Note dat�d AUGUST 15 , 19 97, having a •
<br /> . maturity da�e of � ,�n tihe c�riginal �
<br /> principml amour�t o ONE HIINDRED Tti005AND Dallars �
<br /> �,,,,;,r� (S 142,000.00 ) , and any and a mo f cat ons, extqnsions
<br /> ':.,.-.. -+���. and renewals thereof or thereta and any and all future
<br /> advances and readvances herQUnder purauant ta on� or • ';;�';;,-;
<br /> � more promissory notes or credit agreaments (herein �";:��;•_-
<br /> ;,t,
<br /> cailed "Note") j ":,�__:�
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<br /> (b) The payment of other suma advanced by L�nder �;;�
<br /> � to prntect the security of the Note= ���.:
<br /> �;:=-
<br /> (c) The performanae of all covenants and agree- =
<br /> . ments o� Borrower aet farth her�irit anc� -
<br /> *� (d) All indebtedness and obl iqations of Borrower
<br /> �o Lender whether direc�, indirect, absolut�s or can-
<br /> � tingen� and whether arising by nate, quaranty, over-
<br /> y ' draft ox otherwise advanced for t2ie purpose af makinq
<br /> improvements ta the real estate h�reinabove described.
<br /> The Note, and any a�d all other documents that secure
<br /> the No�e or ot�erwise executed in connection therewith,
<br /> including, withotat 1imi�ation, guarantees, seaurity
<br /> agreements ar�d assignments of leases and renta, shall
<br /> be referred to herein as �he "Loan Inetruments."
<br /> Borrower, to pxotect the secur3ty of thie beed of Truat,
<br /> covenants and agrees with Lender as followa:
<br /> 4.
<br />� � 1. Pa �nt of Princi al and Interest. Borrower ahall
<br />-v+, ;. �. promptly pay when due t e pr nc pal of and nterest on, and any
<br />= .�.�;,;� . fees or charges provided in, the Note or in this Deed of Trust.
<br /> ��,
<br /> =:A� .� ....,� 2. TitlE. 9orrower ie �be owner of the Property and
<br /> t� has the right ani�authority to convey the Property.
<br /> `"�1JF - •�7.
<br /> *x'��+ :u . .
<br />-..:; ,��;;, . 3. Taxes Assesamente. Except when they are con-
<br />�;�:.�;;;�,...,,;� , tested in good a t , to pay w en due all taxes, special assess-
<br />---��.�.;;,,�,.• ., ments and all other charges agains t the Property and, upon
<br />�- �.��.� '=' wzitten demand by Lender, to pay to Zender suah amount as may be
<br />?�'`', �,�"'�;: ;�, sufficient to enable the Lender to pay auch taxes, assesaments or
<br /> =-�'°"" � other charges ae they become due.
<br />_..a�,'�;�.. . .
<br />-.�•:.��,�� 4. Insurance. At �he beqi nning of construction or
<br />__���:.-�� renovation of u 1 ng, to keep �he Property insured againat
<br /> �:,,��,., . � damaqe by fire, hazarde included wittiin the term "all riak
<br /> -�"'°•��'r+.*,:�': coverage", and aucta other hazarda aa Le�tder may require, in
<br />=-"=`��- r-•�•;�= amounts and with companiea acceptable t� Lender, including a
<br /> 3✓ ' .
<br />- - atandard mortgagee clause with loss payable to the Lendex. In
<br /> i ����'.'.;; case of losa under sach policiea, the Lender is authorized to �;__
<br /> -. ad�uet, collect and compromise all claims thereunder and shall ��;,
<br /> . � , have the optiori of applyinq all or part af the inaurance proceeds ' -
<br /> � ` j (i) to an indebtedness secured hereb and in auch order as �"� -
<br /> Y Y 't::=�r;
<br /> , . Lender may determine, (ii) to the Svrrower to be used for the : '�.�
<br /> repair or reatoration of the Property or (iii) for any other
<br /> � purpose or object satis�actory to Lender cvithout affecting the �,• '�
<br /> lien of this Deed of Trust for the fu 11 amount secured hereby
<br /> _, , be.fore such pdyment ever took place. Any application of proceeds
<br />-- to indebtedness oha11 not extend or postpone the due date of any .
<br /> -_-- L� J�.� 1.L_ •_L_ ! !___• L_�____�_` L_`_ _
<br /> ------ t+uj�iacia�o uuuct Lllc a�VI..C� VL VltiG cIt1Y 4C1Q4iG {.t1tJLC411tlOi Vt �1CLC-
<br /> � unclar.
<br /> , 5. Ma3.ntenance Re aira and Com liance with Laws.
<br /> Borrower shall eep e proper�y n goo con t an an repa rf
<br /> shall promptly repair or replace any improvement which may be
<br /> damaged or destroyedt ahall not commit or permi� any waste or
<br /> deteriorati.on of ttie Property= ehaL1 not remove, demolieh or
<br /> substantially alter any of the improvements •on the Proper�y;
<br /> shall not commit, suffer or permit any ac� to be done in or upon
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