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<br /> . �p_..., 103632
<br /> � 7�'hie� Deed o� Trua� sh�ll s�cur�:
<br /> � la) The payr�nt of the principal s�am and f�►tereeti
<br /> evidenced by eorroxer'� Constru�ction Line of Credit
<br /> Dr�w Note dateQ June 21. , 19 9b, havinq a
<br /> �turity d��e o� Decetat�er 18 19a�1 ��n the original
<br /> �rincipal amo�nt O One hundred fift iive t Dollars
<br /> �=�.Opl , �nd any an a cA! ons, extenafons
<br /> an renewAfs thereof or thereto ancl any and all future
<br /> �dvanc�s and reac�vances hereundcr pursuant to one or
<br /> �ars prawissory notes or credit agreen�ent� (herein
<br /> call�d "NOte") ;
<br /> (b) Tbe psyment of other au�s adva�nced by Lender
<br /> to protect the security of the Note=
<br /> , Icl �he perforn��nco of all covenants and agree-
<br /> awnti• of Borrower aet i�arth hereinl and
<br /> (d� All indebtedness and obligations of 8orrower
<br /> ta LenBer ahether direct, indirect, abaolute o� con-
<br /> tingen� and whether arising by note, quaranty, over-
<br /> � dra€t or otherwise adv�nced far the purpose of making
<br /> impxovements to the rQal es�ate hereinabove describFd.
<br /> The Note, and any nad all c�ther document$ lhat ftecure
<br /> the Note or otherrriac �xecu�ed in connectfon khAreaith�
<br /> includinq, without limftation, guara�ntees, ssecurity �
<br /> agree�eenta snd �a�ignments of lea�es and �tenta, ahall
<br /> be ref�sred to herafn as th� "Loan �natrua�ents."
<br /> �=�
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<br /> . - A�sr��, to protiect thP secur�.ty o� thie �eed o€ Trust, �_�
<br /> covenante and ag�eca with I.GndQr as followas � _
<br /> 1. Pa ment of Pri�nci al and Interest. Borrower ahall
<br /> proa�ptly pay xhen ue t e pr nc pa o an nteresk on, and nny
<br /> f�es ar charges provi.ded in, the Note or in thi$ Deed af Tsust.
<br /> y�
<br /> 2. �'itle. Uorrower is the awner oE tMe Property an8
<br /> has th� right an�authority to cenvey the Prr�per�y.
<br /> , 3. �'axes, Assc►saments. F:xcept when they are con-
<br /> tested in qood a t , to pay rr en due a11 taxes, special assess-
<br /> menC� and a�l other charges aqainst thc� Prop�rty and, upon
<br /> written de�nand by I.ender, to pay to Lend�r such amount as may be .
<br /> auf�icfent Lo enable the Lender to pay Auch taxea, assesamente ar
<br /> other cha�rges as th�y become due. ���
<br /> �. Ir.surance. At the beqinning �f constructio� ar �
<br /> r�novation nf buil�ding, to kcc�p the Praperty in,�urec� ag�fnst
<br /> damaget b� fire, haxards includec� within thc� �:erm "all ri�k
<br /> coveraqe', and such �ther hazarc�s as Y.er�der may require, in
<br /> a�oounts and with camp�ni.c�� ac�eptahi.� t� i,ens��r, including a
<br /> a"stc�title"rii invrtgaqcc c2ausc wi�th Zos� payable tct the Lenc3er. irt
<br /> . case af 2asa under ;�uch �►oliri.ea, tl�c.� �ender is authoriZ�d to
<br /> adjnat, collect �nd comprarnise ail �-laims thereunder and shall
<br /> haW� Lhe optiar� of apNlying �11 or part of thc� iresur�nce psoceeds
<br /> (£,� to any incieht�dn�ss ,ecu��d hereby and in such ordex as
<br /> , Lender ��y �letermin�, Iii) to ttle F�orrawer ta '�e used for the
<br /> rep�ir or restoratian of the �rqF�erty �r fiiil fnr an�e c�thPr �
<br /> purpoaP �r abjeCt s���isf�c�ory tn �,�nd��r wfthout aff�cti�g the ,-�_-�_,
<br /> lfen o� tMis Deed of Trust fnr thE� full �maunt s�cuared he�reby
<br /> be�ore �txch payrr�ent ever tioc�k pl;�ce. riny �pp2icatioii of �roceeds
<br /> to iz�debtedr�es�; .t�a21 not extend �r post�une thf: due date of any �
<br /> payment9 under thc Note, �r cure any default thereunder or here�-
<br /> uncler. �
<br /> ��
<br /> � 5. M�i,iitenahct�, Ft��irs and Com�2 i�-�ncc� •aith I.aws, �
<br /> E3orrower sha21 ��`the F�roperty xn guc�i 'conc3atinr� an repasr;
<br /> �
<br /> sh�-�11. protnptly rep�ir or replace ��ny irni�ruv�_:r,c�nt which mc�� t�c• �r.
<br />' i3cii�i��$L�i Or t�c6�`.r'v�Et's; ��i8ii. T�Q�'� Cu�i�iillL. CJi �3eiifll'L vnY 1vaJ�Gt �Jt rnx
<br /> slete:iar.�tio:. �f the� I'r.o�r.x•ty; :�hal I r�ot rcrnvvz�, r'::::�1 i�}e ��i ���
<br /> stit�,t�inti�l.ly ��1tE�r cany of +_hE� imf�rov�tne�rits on thc� l�rc�p��rty; -
<br /> �hal.t nQ�t Cp�-�=^xt, ;;uffc�r ar pe�rtni.t ��r�y ��-!� ic+ ht� :ie�ric•� in c,r S�F�c�n
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