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<br /> , �.` � Thie �eed of Trust ahall se�nres ��'.m l���y1
<br /> . ta) The payment of the principa�. eum and i�nterest °. ��
<br /> ��� evidenced by Borrv�rer•s Conetruction bine o� Credit
<br /> �. � . Oraw Note dated october 10 , 19 97 , havinq a �
<br /> � � aeaturity date of Jul 2 1998 ,�n the Q�ginal , �
<br /> �' '".��-:.--t=, principal amount o pne gundred �ir Tho�sand 6 Nd ollars ' �'� ��
<br /> ;-�� _���'"� ($130 000.00 �, and any attd a mo g cat on�, extensions _� .:�
<br /> • � and r�e e�s thereof or thereto and anp and all future �.t�:'
<br /> � ' � ., advances and readnances hereunder pursuant to one or � �
<br /> ` ' ` more promissory no�es or creclit aqreemen�s . therein .
<br /> � ..- called "Note°y= `:
<br /> �� � � • �b� The payment of otd�e�c snms aawanced by Lender �
<br /> � � ;,-'{ to.protect tiae secaritp of the Notes ,,
<br /> _ (c) The performance of all covenants and aqree- ,�� ��`y
<br /> � -� ments of Horrower set forth herein= and �
<br /> (t
<br /> fs� , td) All indebtedness and obligations of 8orraa�er _
<br /> - .:.:�:� `. �-i .,
<br /> "`�"`�`� "` �o Lender whether direct, iadirect, absoln�e or con- -
<br /> . �.t
<br /> " � � ,:F� ting�t and whether arisinq by note, qnarantp. over- •
<br /> ` ' �"�� �-��' • dra�� or otheswise advanced for the purgose of matc3.nq
<br /> ----�`��T-:�: .
<br />_ � :Y�;������'�; _ impsovemeiats to the �eal estate herefnabone described.
<br /> {�'�''�"�- ��:=� Th� Note, and any aad a21 other documents that secure
<br /> :,�:.� �.;.�., ,.'•:
<br /> � � . � t1rn� t�ote or otherwise executed in aonnectian therewith,
<br />._..�. . , . _ ;�� �tsc�.uding, without li�itation, guarantees, security
<br /> �_ '.
<br /> � ` . ' - agr�ements and assiqnments of leases and rents, s�all :,
<br /> ' be referred to herein as ttze "I,oan Instruments." .��1�
<br /> . .� �,
<br /> ;.s.,.
<br /> �_ � Horrower, �� protect the �aurity of this Deed of Trust, �_--:
<br /> �` ' covenan�s and agreea with Lender as folloms: �°_
<br />'- ' ��� 1. 3�a nt of Princ' al attd Interest. Borrower shall �--•
<br /> ;,::?,,.;�.� �.:_,
<br /> �"°'�`r�°'� �`• r tl a w�a�n ue e r nc a oE and terest on� attd anp ---�--�
<br /> ;.:.,';,�;�.�, �: P pmP Y A Y P P --
<br /> . ,j;, .' .. ' �' =
<br /> . , £ees or charges provided in, the Note or in �his Deed of Trust. �,:_�
<br /> - - ,- 2. Tf�l.e. Borrower is the awner of the Property ancl � .J
<br /> . ' . � �. � has the right aac�uthoritp to convey the Property. . `°,�z__
<br /> � 3. Taxee Assessmen�s. Exaept cvhen they are con- � �`
<br />_ �ested in good f , to pay w en due �.t taxes, apecial assess- _
<br />_ • � ments aad all vther charqes againat �� Property anc8, upon . ____
<br /> . � � written demand by Lencler, to pay to Ler_3�zr�s�cPi. amonnt as may be . � � �, :
<br /> �'�'��� = '' suf�icient to enable the Lender to pay such tas��, assegsments or =`--`
<br />._.. ';♦,.���ti. . : i. �;. t.:
<br /> . other chargee as they become due. -��R•
<br /> r: � _ � _
<br /> _ 9. Inauraace. At the beginning of aonstreta�tion or _ :
<br /> � �'� renovation of u 1 ng, to keep the Property i.asure8 a�ainst
<br /> � . � �' damage by fire, hazarae includeci with#n the term "a11 risk �
<br /> - • � , coverage°, and euch other haza.�da as Lendes may require, in �.•_,:
<br />- � � . amounta and with companiea acc��table to Lendes, inclu�ling a -
<br /> - .. � . standa�8 mortqaqee clause with loae payable to the Leaeder. In ,, '=
<br /> . - case of loss under such policies, the beader ia anthorized to �
<br />- � � �, � adjust, collec� an8 compromise all claima thesenn8er and ahall .
<br /> _ . have the option of applying all or part of the inaurance proceads ;
<br /> - (i) to any indebtedness aecured hereby and in such oader as
<br /> . Lender may determine, tii) to the Borromer to be used for the
<br />-_ . repair or reatora�ion of the Psoperty or (iiil fo� any other .
<br /> - � � purpose or objeat satiafactory to Leader without a£fec�ing �he
<br /> " � � �- � li.en of this fJeed of Truet for the full amount seeure8 hereby
<br />,� , bafore suah payment ever took p2ace. Any appliaatiott og proceede �:
<br />_�� to in�ebte�nee9 shali not exlend or pogtpone �he due data of any
<br />-= . • . payments under the Note, or cure any default thereundsr or here- � .
<br />_ . . �aez. �
<br /> � ' � 5. Maintenance Ae sirs an8 Com liance �ith La�s. �
<br /> , �. Borrower shall eep e Property n goo con on aa repa s� �
<br /> - - � � ahall promptly repair or replace any improvemeat which may be �
<br /> � damaged or deatroyed= shall �not commit or permit any wasto or
<br />-= � . deterioration of the Property� shall not remove, demol3ah or
<br /> '` • substantially alter any of the impravements •on the Propertyt �
<br /> ��r shall not commit, suffer or perr.�.t any act to be dotta in vr upon
<br /> . ,
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