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<br /> ' Thie Oeed of Tru�t ahall oecur�: �t�"-�� ��.W
<br /> � :a � ���� `�'=
<br /> _. e:;�:.
<br /> : • - � � (a�) The payment of the principe►1 sum and intereat ,��'_.,.iz
<br /> � � �� evidenaecl by Borrower's Conatruction Line of Cred9 t �__._°�-�-'_L���_
<br /> , ,.,
<br /> � _ .��'� 19 1 . havin a =-----
<br /> , . ±. Draw NotQ dated Januarv 3�^+ � � � —
<br /> meturity date of lyarci 1 1 6 � g � -.`.:�-=-_- _-
<br /> n the ori inal ��^,.,-;�.=�-�_-= ----
<br /> �,�=". s,;.-.�-�..�-�
<br /> , prinaipal amount o Thircv-f�. e c �u�ani and no/loo Dollara ��___,�,�.�,e,_
<br /> ��� � (s�,000.00 1 • and any anc] r� mod fications, extenaiona :s,;F�`•:;:;'-,�.���:�;�`_
<br /> T ��+' � and renewals thereof or thereto and any ar�d all future ' � .
<br /> � ' � advanaes and readvancea hareunder pursuant to one or ,.l
<br /> � more promissory notes or aredit aqreemanta (herain
<br /> r.;r_�..-
<br /> callea "Notie"): �
<br /> • �!''����� � (b) The payment of other sums advanced by Lender . _
<br /> �. ' to protect the secuxity of the Notei �� � ;..,�,„:"��::-�.:
<br /> . .�r.�;� i.. , . . -� �.h:i�'d
<br /> ' ' •�••� (c) The performance of all covenants and agree- :� , _��__;s'.,;.��t�
<br /> �`��� �-���� � �,.,�F� � ments of Borrower set forth herein t and � '
<br /> .��,.;-,,
<br /> :, 'Ti�.� .. ,F<�;�,.., . :•
<br /> .a:.�.���
<br /> ,. .• �1,.� . :.
<br /> .t'' , ,.•� , . ���,,�;�� .
<br /> ,.,.; �,.;�:;,;� " (d) All indebtedness and obliqatior�� �f Borrower ;�:�.,-:
<br /> �•�; to Lender whether direct, indirect, a����a�'�@ or con- �• _
<br /> ' tn.;nqent and whether arising by n�ste, guaxunty, over- � _�_ _
<br /> '� draft or otherwise advanced for the purpose of making f �-�
<br /> . improvements to the real estate hereinabove deacribed. � '��;,-�-
<br /> . The Note, and any and ali other documents that secure �: � � "-
<br /> • the Note ar otherwiae executed in connection therewith, � ��''.�"
<br /> _ ( �.:,
<br /> includinq, without limitation, guarantees, security
<br /> aqreements and assiqnments of leases and rents, shall ' �,tiY ,_
<br /> be referxed to he��in as the "Loan Instruments." � ,,' ;� ;��,:
<br /> � _�:,•
<br /> �\� .(�:� - � �yr e.+J
<br /> Horrower, to protect the security of thi� Deed of Truat, j�� .�•;;. .° ; `�
<br /> a o v e n�a��.s and a grees with �en¢1er ae follaws: ' ``��'•. -
<br /> i� �
<br /> '` �� � 1. Payment �f Principal a��l Interest. Borsower shall �
<br /> � • t promptly pay when due tfie pr�.ncipal of and interest on, and any :
<br /> fees or charqes pxovided in, the Note or in this Deed of Trust.
<br /> ; � „ 2. Title. Borrower is the owner of the Property and .
<br /> .� has the riqht and authority to convey the Property. ,
<br /> '�!� 3. Taxes Assessments. Except when they are cor�-
<br /> � � ����� �'� , tested in qood a th, tn pay when due all taxes, special assess- .
<br /> ments and all other charges against the Property ar�d, upom
<br /> �; � � writter� demand by Len�d�er, to pay to Le,�r�er auch amoua�t as may be �
<br /> ' �� ', sufficient to enable the Lender to pay such taxes, essesamenta or `�;��, ,
<br /> other charqes as they become dwe. ��
<br /> 4. Insurance. At the beginninq �f construction �r �;,�.
<br /> renovation of bu ding, to keep the Property insured against .� ,��' :
<br /> damage by fire, hazards included within the term "all risk �
<br /> coveraqe", ar.c� such other hazards as Lender may require, �n
<br /> amounts and with companies acceptable to Lender, i.ncluding a
<br /> , I skandard mortgagee clause with loss pmyable to the Lender. In , •
<br /> case �� loss under saa�ch policies, tDae II.ender is authorized to
<br /> � � adjust, collect and compramise all c�aims thereunder and shall
<br /> � 'i�`'�,. �' %,�,� have the option of applying all or part of the insurance proceeds ,
<br /> i�;:�'�' �,;� ; (i) to any indebtedness secu�r�ed hereby and an such order as
<br /> Lender may determine, (ii) to the Barrower t� �e used forc �.�u•� �� �
<br /> �, � l� repair or restoratia�� af the Proper�y or (ii�) fo� array' other
<br /> � purpose or object s��asfactory to L�er.Ger withoaat �f��c�ing the
<br /> lien of this Lleed of Trusti fcs�r the full amauant sececrr�d heretay
<br /> befoxe such �a;�ment ever took �lace. Any appbYCats�cc of proceeds
<br /> ' to f�udebtedness shal2 not extend or postpone the c�one ¢�ate of any
<br /> .,��,�R,re „�aPr ehe l�mtte. or cure any default therea�m�l�r or here-
<br /> � r--�------- ----
<br /> under.
<br /> � 5. Maintenance, Re airs and Com liance witl� Laws.
<br /> eorrower shall eep t e Property n goo con tion an repa rt
<br /> shall promptly repair or replace any improvement which may bQ
<br /> � damaged or destroyedt shall not conu�it or permit any waste or
<br /> deterioration of the Property; shall not remove, demolish or
<br /> substantially alter any of the improvements on the Propertys
<br /> shall not commit, suffer or permit any act to be done in or upon
<br /> -2-
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