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<br /> . Th�s Deed of Trust shall secure:
<br /> . (a) The payment of the principal sum and interest i?.;-.
<br /> evi8enced by �oxxow�x's Construation Line of Credit : r
<br /> �,� Draw Note dated occober 6 , 19�, having a �;,;^:_
<br /> �� maturity date of c t . � t h e�,j� 3 l�d ��_-
<br /> _ - principal amount o one Huadred Fort -Two Thousaad ����s f__-
<br /> ��� (;142,900.00 ) , and any and all m�d cations, exte �o s _
<br /> '"°"""'�� and renewals thereof or thereto and any and all future E___
<br /> advances arad readnances hereunder pursuank to one or ;__
<br /> moxe prom�ssory notes or credit aqreements (herein _
<br /> � called `•Pto��") _ -
<br /> � (b) The payment of other swns advanced by Lender
<br /> to protect the security of the Notej _
<br /> (c� TY�e per€ormanc� o� all covenants and agree- .
<br /> �, ments of EorrAw�x set farth hereins and -
<br /> (d) Al1 indebtedness and obligations of Borrower -�
<br /> ' �`� ��� , to Lendex whether direet, indirect, absolute or aon-
<br /> tingent a�nd whether arising by note, guaranty, over- __
<br /> � draft ox otherwise advanced for the purpose of making
<br /> � ' improvements to the real estate hereinabove described. -
<br /> The Note, and any and all o�her d�auments that secure
<br /> "- the Note or otherwise executed �.n connectfon therewitha
<br /> -" �� ����`� including, without limitation, gua�antees, security
<br />___�� = sgrsemeats an3 ass3gnments �f ?��Res and rents, shall ___
<br /> `.,�':�.,
<br /> � .� '. be referred to herein as the "LOan� Instrumsnts." .
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<br /> --t:,�;L��_ �9mxrower, to pro�eot the secur�ty of this Deed of -Trust,
<br /> -_-=—= coven�ra�s anc� agrees with Lendex as follr�ws: ,� .
<br /> �,-..�.,.�.,� .
<br /> :;�;;;�� ' 1. Pavsnent of Principal anc� Iaiterest. Borrower shall . . � �
<br /> --- -��- pronag�k2y pay when due �he prinaipal of and interest on, and any
<br /> ._°_::°:s� fees ar charges provided in, the Not� or in thYS Deed �of Trust.
<br /> =i..:��
<br /> ?�'-'�j� � 2. Title. Borrower is the owner of the Property an$
<br /> ----- i�as the riqht and authority to convey the Praperty.
<br /> -�.-��� 3. Taxes Assessments. Except when they. axe con-
<br /> ----•--�� tested in geod fait , to pay when due all taxes, special assess-
<br /> ._ - ments and all other charges agaiast the Property and, npon
<br /> _-.�,,.�� written deneand by Lender, to pay to Lender sucb amount as may be
<br /> w-"-�``� sufficient to enable the Lender to pay such taxea, assessments or ,
<br /> -='`'� other charges as they become due.
<br /> ���� . .
<br />�-�'"""-�� 4. Insurance. At the beginaing of construction or -
<br /> --.�.-__p�; renovation of bu ld ng, to ke�p the Property insured agains'c
<br /> --=�! damage by fire, hazards included within the texm "all risk
<br /> --_ =''�'�' - coverage" , aa�8. :suc& other hazards as Lender may requtre, in
<br /> �-�`�'`�� amonnts and with companies acaeptable to Lender. including a
<br />°:�'>_'l�11lIF?:'_i��
<br />=-.-_=.� �- standard mor�gagee clause with Ioss payable to the Lender. In
<br /> ��� .}����^4?'`' case. af los�� umder suah policies, the Lender is authorized to
<br /> .� . adjust, collect and. compromise all CL8�itit9 thereunder and shall
<br /> hav� ttYe opt�ion of applying all or parti of the insura�ae proceeds
<br /> T��� �;.�`; . ii) �o any indebtec�ess seaured hereby and in such order as d
<br />- - `' Lender may determine, �ii) to the Sorzower to be used for the
<br /> :" `""`� repair or rest�ration of the Prope3cty or (3:fi.) for any o�h�r _
<br /> •� " � �� '' purpose or object sa�isfactory to Lender w3thout affeatinq the
<br /> � ���` � lien of this Deed of Trust for the full amount secu�ed hereby
<br /> '-•��'�=� Acfnra ann.h navment eveY tOOk D1s3C@� AiIY ap�licatfon of proceeds
<br /> .� `'=� �� to fndebtedness shall not extend or postpone the due date of any
<br /> � '� ��� payments un8er the Note, er cure any de£aul� thereunder or here- �
<br /> � � ' under. �
<br /> 5. Maintenance Re airs and Com liance with Laws. =
<br /> Borrower shall eep e Property n qoo condtt on an repa r= �
<br /> shall promptly repair or replace any improvement which may be
<br />_= • damaqed or destrnyed= shall not commit or permft aay waste or -
<br /> � deterioration of the Propertyf shall nvt remove, demolish or _
<br /> � � substantially alter any of the 3mprovements on the Property; °
<br /> „�- --� shall not commit, suffer or permit any act �o be done in cr upan -
<br /> �, .._. ,.
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