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<br /> �� � This Deed of Trust shall aecure: 97.� 1Q7��, �:,�;
<br />, . � � (a) 'Pbe payment of the principol aum and interest —�=
<br /> evidenced by Horrawsr's Conetruation Line of Credi� —�t-�''
<br /> ��� Draw Note dated saptember 19 , 19 97 , having a -
<br /> � maturity date of october 1 1498 ,�n the oi�g3na1 �`
<br /> _'.F'•°� principal amount o N ne t -'rwo T ou�an nnd rto/10o----Dollars
<br />_ , (� 92,000.00 ) , and any an a mo cat ona, exteneiona
<br /> and renewals thereof or thereto and any end all future
<br /> rY, • advancea and readvancee hereunder purauant to one ox
<br /> more promissory notea or credit agreements . (herein
<br /> ��: called "Note") t -
<br /> • , �� (b) The payment of other sums advanced by Lender
<br /> � ' �o.protect the security of the Natej
<br />�� •�, :.'"� (c) The performance of all covenanta and aqree-
<br /> '� • �• ments o£ Borrower set forth hereinj and
<br /> r
<br /> ���'�. (d) All indebt�dnesa and obligation�s of gorrower
<br /> ' � to Lender whether direct, indirec�, abs�lute or con--
<br />_`�>;���_�:+�� tingent and whether ari$ing by note, quaranty, over-
<br /> :� • draft or otherwise advanced for the purpose of making
<br /> ;:%.s��;:'�,� improvements to the real estate hereinabove described.
<br /> a � ,� �� The Note, and any and all other documenta that aecure
<br /> `�� �� � the Note or otherwise executed in connection therewith,
<br />���'.•• includinq, wi�hout limitation, guaranteea, security
<br />����", a reements and asaignmente of leases and rente, shall
<br />.��;�:,.�;�. g
<br /> - be referred to harein as the "Loan Instruments."
<br />--:':�rA�..
<br />� j`�.� Borrower, to protect the security of �his Ueed of Txust,
<br />�w���;�, covenants anc� agr�ee �rith Lender as followe:
<br /> -�x��fM
<br /> --F�;,� 1. Pa ent of Princi al and 'lnterest. Borrawer ehall
<br /> � �-_-��— promptly pay when due the pr na pal of an n erast on, and any
<br /> -- feea or charqes provided in, �he Note or in this beed of �rust.
<br /> ��Y-�- 2. Title. Horrower is the owner ot the Property and
<br /> �- has the right an authority tn cvnvey the Praperty.
<br /> 3. Taxes Asseasments. Except when they are con-
<br /> tested i.n good a t , to pay w ien due all taxes, speeial aesess-
<br /> ments and all other charges againat the Property and, upon
<br /> written demand by Lender, to pay to Lender auch amount as may be
<br /> sufficient to enable the �ender to pay such taxes, aesesaments or
<br /> _______ other charges as thay become due.
<br /> � 4. insuranae. Ati the beginning of construction or
<br /> - renovation of u 1 ng, to keep the Property ineured against
<br /> - damage by firs, hazards included within the tarm "all risk
<br /> coverage", and such other hazards ae Lender may require, in
<br /> amounta end wit4a aompdaies acaeptabla t� Lender, inaluding a
<br /> - standard mortqaqee clause with loss payable to the Lender. In
<br /> � case of loas under such policies, the Lender ie authorized tio
<br /> -- adjust, collect and compromiae nll clAims thereunder and shdll
<br /> --- have the option of appl�ing all or part of the insurance proaee8�
<br /> --- ° (i) tiv any inflebtedaeee eecured hereby and in sueh order as
<br />-.--�� Lender may determine, (ii) to the Borrower to be used for the
<br />-- ��?�a�� repair or restioration of the Pxoperty or Cii3) for any other
<br />�--"`=':;���{--
<br /> _�,;;,_,�,�` purpoae or ob3ect eatiafactory to Lender withouti affevting t e
<br /> -
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