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<br /> k`` . . Tbis Deed of 'Tr�at slial.l secure s +� . .:
<br /> d�g�� �<
<br /> �_��'�_
<br /> . . f�.f. t=`
<br /> � �'��.�.� ,`,` �a) The payment o� the pr�cipa� � and intereet . �.
<br /> . Nr ,r
<br />-�`,,� '_`` ' :,' enidenaed bp Borro4te�r's Cons�ction bine of Credit �
<br /> .:��.:°� Draa� Note dated ' �ct ber 30 , 19 97 , �aving a '
<br /> `° . '�in the origiaal , �`_.
<br /> � � ma�ur$ty date of ril 30. 1 98 • Doi].ars .. . -
<br /> : `.� ps3.�tc�.pa1 amotint o `Sixt�-Fau �' ousan and No L00--- - . '
<br /> t� 64,000.00 ) , aa8 anY an8 a iao € cat ons, ev'�sions '`� ,;��
<br /> and s�n�vlal� thereof or thereto and any and all fn�nre � r�-
<br /> �`' J' adnances and readvaaaes h�reunder purau�nt to .one ox `"n :;�.,
<br /> x :::=` . .: ��,� , ttotes or areait agreements the�ein -
<br /> , � more pramis$or]l '��` --__ -
<br /> �f. : cailed "Note°)f
<br /> � t ::. . , - --
<br /> � , � . tb� Tfie pa,pment of otlzer smns advanaed by Leader � . � ` V
<br /> ,. to proteat the securfty of the Note; ' �.,----
<br /> �.., . n:
<br /> . . . �c} Tke p�rformance of all covenants and agree- � r�:_�= _ --_
<br /> • men�s of Borra�er set forth herein= and � • � �
<br /> � �. --
<br /> ".�`�•" td) Al2 i.ndebtedness and obliqations of Borrawer - ___-
<br /> _ ;:��-,.�. ��`. to Leuder whether direct, indirec�, abeolute ar con- __ --
<br /> � _'_ �tingent and wliether arising by note, geiaran�Y. over- �.
<br /> � � draft ar othe=wiee adnanced far tbe purpoae of makf.u9 �
<br /> ��� � .° improvements to the real eatate hereinabsve described. � �..
<br /> � __. ,
<br /> The No�e, and atty and all other doc�snts that secure f
<br /> ,� the Note ar cl:herwise execnted �n connection therewi4h. ---�-
<br /> � �' ' h arantees, security �•-�`
<br /> ,.�f'� including. wf�thout limf.tatios�. 9u .
<br /> .._ -- agreements and assignnaeata of Zeases and ren�s, shall ;.. �
<br /> � lae referred ;to herein as the "I�an Inatruiaents." . �:'.�=�_...
<br /> .r. _ � ; � �.
<br /> t: . . � 8or�rorasz, to p�otect the eecuxity of this Deed �f Txust., ' ...�.,��
<br /> � conenants and agree's wi{ch Lsnde�c �s £ollows: ` �- _
<br /> . . � `:.���-_
<br /> ' ,. . 1. Pa ent of Pr�.nci al ancl interes�. Borrotve= $hali ..�� ;,_..
<br /> ,�• , �.�. � promptly �aay when ue the p� c pal of anc7 interest oa, aua any .�,�._
<br /> �ees or r.barges provided i.rr, the Nate or in thie Oeed of Trust. ';;��;;:.
<br /> :" . �;i.:��;�: . . ��;'.
<br /> �,....;:_�, . . .. :'�, �-.—-�_;
<br /> . . �2. Tit�e. Boxrower is the eivner of the Prap�rty and �-•
<br /> � � ,�,�,.�,.
<br /> • � . � has the right an authority to convey the Proper�y. . . � ,_ .w.;_:
<br /> .. �.,
<br /> . ���•.
<br /> � � � � 3. Taxes Assessments. Excep� when they are aon- _ �,_
<br /> � ��•��e tested in qood fa t , o pay w en due al�. t�es, apecia]. assess- '--�r-���
<br /> � ments and all other charges agaans� the Proper�y and, upon � L� :-
<br />- - -� � �riticen demand by Leuder, to pay to Lender auch amouat as may be � �_ `, . �.
<br /> ° � �� � sufficie�� to enable the Lender to pay such taxes, assessmenta or �„�,����:,
<br /> �-�� :, ' � , .. � ,� ,� _
<br /> ::�.� . .�• . . , other cIna�gea as they became d�te. .�-�-=.
<br />_ � . ,-;:_�
<br /> . . 9,� Insurauce. At �he beq3nning of con��ruction or �
<br /> � � � zenovation of u ld ng, to keeg �&e Prope�ty fnsured againat . _ _
<br /> damage by fire, hazarcYs 3nalude8 with3n the term °all risk .
<br /> � � � coverage°. ancl auch oth�� hazards ae Londer =aay requira, in � � _
<br /> � �� � � � amounts an8 with compan9.es acceptabie to Lenfler, 9.nclading �n �
<br /> etandard mortqagee olauee with loes paYable to the LenBe�. .
<br /> � = caee of loea under euch pol.iaiee, the Lender ie authori�efl to
<br /> � ' �� � a�juat, eollecti and aompromiae all claima thereundex and shall .
<br /> � ��-=��=`�: 1� have the option oF applyfr.�g all or part of �he insuranae proceecle .•
<br /> '� � ' (f) to any indebtedness secured heYeby and in such ardaz se � . ,
<br /> � � •�'„j �• Lender may determine, �131 to the Borrosoar �o �e nsed for the �
<br /> � repair or restoration of the Prc�erty or (iii➢ �m� �Y o�er
<br /> purpose or ob�ect eatis£actory to Lender withou� affecgiag the � . .
<br /> � � iien of this Deed of irosfi for the full amoun� aecur�� hereby � �
<br /> � � � � before such payinent ever took plaee. Aay application o� procee8s
<br /> � . • � to indeb�en�ne�s�eeallote, orxc�are atty defaul� herenndertor herey :.
<br />- :... paytaents u , � � „
<br /> . � ." nnder.
<br /> � � � �� 5. Maintenanae Re aire �n8 Com liance wit.H Lac�s. �
<br /> � � �� sorxor�er ehali eep e � scoper y n goo aon oa an repa r:
<br /> � .� ahali psomptly repair or repiace any improvement which may be
<br /> • �amaged or destroyedt shall not commit or permit any wasCe o� . .
<br /> � deterioration of the Propertyf slzali noti remove, demolieh or . .
<br /> � substantially alter any of the im�rovementa on the Propertyt �
<br /> . �� • shall not commit, auffer or permi� any act to be done in or npon : :
<br /> .� � —.-.� ..
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