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<br /> This Deed of Trus� ahall �+ecuro: .
<br /> (a) The payment af the principal sum and inter�st � , _
<br /> evidenced by Borrower 's Construction I.ine of Credit �
<br /> AUGUST �4 , 19 g7 , having a ..
<br /> Draw Note datud -�n thQ original ,_������"
<br /> maturity date of NOYFl�ER 1 1997 ' �pllars . . _' •
<br /> principal amount �Ftand ai� oous�tm� ons, exten�ions . -�,.Y j; �:.• ;,�� ��
<br /> F)
<br /> .•,.• (s 45.000.00 ) , and any and all future w --,-;,�', r�,�`.=
<br /> � and r ls thereof or thereto and �nY .... ...; S .,..
<br /> , i�,''ca�.'��'',;�5�);�'��"�
<br /> advances and readvancea hereunder purauant ta one or , t �1: .-�, -
<br /> more promissory notes or credit agreementa (herein ��, wy �
<br /> "Note°� J '"c�`�"-'.,�...
<br /> called '`,. '�:-�.._---_.�
<br /> Lender '' :-°=�
<br /> (b) The payment of other aums advanced by ��y--
<br /> to protect the security of �he Note J ,:�,;�
<br /> ,:��:--
<br /> � (c) The per£ormance of all covenants and agree- �j —
<br /> :�`�
<br /> .� ments of Barrower set forth herein; and _,i4�_-
<br /> id) All indebt�dness and obligations of Borrower ;_;__
<br /> � ` over- �•;:�-�-�'
<br /> � to Lender whe�her direct, indirect, absolute or con- .;%�---_
<br /> ' ;•,�.- tingent and wl�ether arising by note, guaranty. .
<br /> !:�' '('LixnG.
<br /> ur ose of making {'=•_'.'-..�:�
<br /> '�;�$`jY draft ar oth�x'u�ise advat�.cea for the p P �?��=��-
<br /> ..,,y,.�.�.
<br /> imp�overnents to tlne reaZ estate hereinabove describe . ..���,,.
<br /> �.�" The Note, ancl any arnd abl other documen�s that secure
<br /> -'r: `:�- 1� �
<br /> the Note or o�hezwise ex�cuted �n ua anteeien securityh/
<br /> including, without �imitation, g _.,.._= ��
<br />-� agreemersts a�nd assignments of leases and rents, shall ��_
<br /> � be ref�rre� to hereiaz as the "Loan Inatruments." o
<br />_� �:-- r�tect the aecurit� of thi.�i LPPt� of Trust,
<br /> � Borrower, to p
<br /> "� covenants and aqrees with Lender ae follows: ��
<br /> ' 1, pa ent of Princi ai of and eintereat on�wand8any1
<br /> promptly pay when due the pr nc p _
<br /> fees or chargea provided in, the Note or in �his Deed of Trust.
<br /> Ti_ tle. Borrower ia the owner Af the Property dnd ;v
<br /> � Z' t o c o n ve y the Property.
<br /> has the right and au t hor i�y
<br /> 3. Taxes Assessments. Except when they are con-
<br />-� � � w en due all taxes, special assess-
<br /> , �;,� ,, tested in good a tih► tiO Pes against the Property and, upon
<br /> �. _ . . ments and all othLender rto pay to Lender sur.h amount as may be
<br />- . written demand by such taxes, assessmentss or
<br /> � eufficient to enable �becomeddueto pay
<br /> othex charges as they
<br /> � 4. Insu� ranae • At the beginni e�ti f insuredu againstr
<br />-_�- renovation of building, to keep the Prop Y
<br />� �r�"�� damage by fire, hazards included within the term "all risk
<br /> coverage", and such o�her hazards as Lender may require, in
<br /> amounts and with companies acceptabl a ablee oe thei Lenderng In _ --
<br /> ` � standard mortgagee clause with loss p Y _ _
<br /> �. case of loss under su�clh omi e eall tclaims dthereunderh�and esh 11 ----��,�
<br /> }� adjust, collect and c p ���^�---
<br /> have the option of applying all or part of the insurance proceeda ;�..�
<br /> � � (i) to any indeb�edness secured hereby and in such arder as � -
<br />- Lender may determine, (ii) to the Borrower to be used for the ;:_�"�
<br />- . .� ;,.:,: .� ,..;
<br /> repair or restoration of the Property or (iii) for any oth�he � r ��:
<br /> � •._..�t.:�3 �i�+,:
<br />_ � purpose or object satisfactory to Lendsr without affecting
<br /> lien o� this Deed of Trust for �he full �°licatio ro proceeds '; %��;
<br /> before auch payment ever took place. Any app -
<br /> to indebtedness shall not excure anyPdefault thereundertar hereY
<br />-- __ _._ _ nAVments under the Note , or
<br /> --- _ � � -.
<br /> � under.
<br />- � 5. Maintenance, Re axr n ga dCconditnon an�hr pa ri �
<br /> ,;:: , Borrower shall keep t e Property
<br /> - � shall promptly repair or replace any improvement whic� stie ox
<br /> � �. � damaged or desL-royed; shall notshalli noti rem ve, demolish or I '
<br /> i deterioration of the Propertiys
<br /> � - substantially alter any of the improvea��o be donePinpor�upon �
<br /> � shall not comsnit, suffer or permit any ( •
<br /> �
<br /> � , -2- .
<br /> �
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<br /> .��E _ . ., �
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