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-2- I go. 105449 This Deed of Trust shall secure: (a) The payment of the principal sum and interest Credit evidenced by Borrower's Construction Line of - i . Draw Note dated 301mbr 2n , 19ggpp,,��, having a maturity date of ,, x the original principal amount o Wilars (il3V.000.00) , and any an a cat ons, extensions an ronera s- thereofor thereto and any and all future advances and readvances hereunder pursuant to one or more promissory notes or oxedit agraenents (herein '` `�' • called "Note".) i (b) The payment of other sums advanced by Lender to protect the security of the Notet (c) The performance of all covenants and agree- mental .:of Borrower sat forth herein i and (b) Al 1. indebtedness and .dbl iga,tic as of Borrower to Lender whether direct, .indirect, alf volute or con- - +'' ti"ont arif$.- ithother arising ',by note, guaranty, over- draft Or Othe Liao advanced for the purp one Of making ' the hereinabove described: ispmovementks, real estate 'and The Note, aaa� and All other doemiWato that mevbpre the Note Or OLhitrw1die executed in connection therewith, including, without limitation, guarantees, security agreements and assignments of leases and rents, shall V be referred to herein as the "Loan Instruments." Borrower, to protect the security of thin Deed of Trust, covenants and agrees with Lender as follows: 1. Payment of Princi al and Interest. Borrower shall promptly pay when dFu_e__tK9_pri_ncipal of and Interest on, and any . fees or charges provided in, the Note or in this Deed of Trust. 2. Title. Borrower is the owner of the Property and has-the right and authority to convey the Property. 3. Taxes Assessments. Except when they are con - tested in good fafthlo, to pay when due all taxes, special assess- > �,. Monte and all other charges against the Property and, upon written demand by Lender, to pay to Lender such amount as may be sufficient to enable the Lender to pay such taxes, assessments or other charges as they become due. Y 4. Insurance. At the beginning of construction or Y :. ;." renovation of u ng, to keep the Property insured against dataage by fire, hazards included within the term "all risk {' coverage ", and such other hazards as Lender may require, in amounts and with companies acceptable to Lender, including a standard mortgagee clause with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and compromise all claims thereunder and shall have the option of applying all or part of the insurance proceeds _ • r4 t .... _nu i na._Ati_A_nae_:_ "_inured h_.rahv and in such order as _ Lender may determine, (ii) to the Borrower to be used for the ' repair or restoration of the Property or C i W for any other urpose or object satisfactory to Lender, without affecting the .•::;. t„ Lon of this Deed of Trust for the fall aaacw:it.t . secured hereby `':�� before such payment ever took ,place. Any apkpllication of proceeds s to indebtedness shall not extend or postpone tst're duce date. ofF any paysneat* moor tt** note, or cure any defagl.t - thereunder or here- ; Under. ; 5. Haint a ca Rs airs and Compliance with Laws. Borrower shall eel; t e Property in gow con ton ino repair; ' shall promptly repair or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or deterioration of the Property; shall not remove, demolish or substantially alter any of the improvements on the Property; � shall not comit, suffer or permit any act to be done in or upon • -2- I