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<br /> Thi� D��d o! Tru�� �I�all ��vurt:
<br /> ;�; (a� The peymen� o! ths prinoipai �wn and inter��ti
<br /> .��,; evidanced by Borrower•e Construotion Lin� ai Cradit --
<br /> ��. Draw Note dsted t�lareh 2S . 19 , having a
<br /> �- ------ --,------ maturity date o! �D ��ember 1. 1993 ��n th� or iginal
<br /> t`' prinoipal anwunt o �,� irev Six Thoueand and No/10o--- Dollars =_
<br /> :-,,� ; =• a'. (i 36 000.00 ), and any an e a� on�, ext�nsions -.-
<br /> ;:•�; �•�::. � --._
<br /> �:�;_��'�• - and renewa s thereof ar thereto and any a�»d all iu�ure �,.=
<br /> advanoe� and readnencea beraunder puraaan� to one or �•
<br /> �.-;�,� �.�•°:.: ;��' ' more promissory aotea or craditi agreements (herein �:�;_
<br /> �3��'`r�' cslled "Note"1 t r�
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<br /> ��''`� �•�� (b) The payment of other euau� advanc�ed by Lender -
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<br /> _.��,,, . 1'� • - :�� ta protect the asaurity of khe Notei
<br /> _ �;:±r�:',�',�?&�1� ��u-.
<br /> - ' �'��`' �� �"� � (c) The performAnce of all covenant� an4 ayrea- ���'�`
<br /> °- � � �anta of eorrornr set gorth h�r�iet and _
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<br />_ � � •:,Yr< Id) 1111 indebtedness and obl3gations of Borrower �_
<br /> • � %�� '. �'-���`" to Lend�r whether direct. indirect, absolute or con- ==:s
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<br /> .�•�.�:.•., tingeat and whether arisfng by note, guaranty, over- �'_._
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<br />- � �-,.;,?:;{4;:1, dra�ft or otherwise advanced for the purpose of makinq =
<br /> ``�>:��•::;:,;':,- fmprovements to the real estate hereinabove described.
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<br /> �, ;f The Note, and any and all other documenta that secure --
<br /> �� " ' the �iote or otherwise executed in connection therewith. �
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<br />� . � � " ,. .'�;.f inaluding, without limitation, guaranteea, security __
<br /> �. �.?<;.>,;, agreements and assiqnments of leasee and rents, ahall �
<br /> . ' :�t�������•;%;;� be referred to herein as tD�e "Loan instruments." —-�
<br /> .�ti, .:.v.,.+ �r°.
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<br /> .�'�� r Aorrower, to protect the security of thia Deed of �'rast,
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<br /> . . �; ���`�:.'r ���• ` covenants and agrees with Lender as followa: �s�
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<br /> �'ta��`�"�"" 1. 1�a. ent of Princn. al and Interest_ 8orrower shall �
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<br /> �,, . ,;�h�,��;�.c�;;�����r� �, promptly� �pay wD�em due the pr nc'pal of and int�r�st on, end an�
<br /> �`. � fees or ��arges provided in, the Note ox in this Deed of Truet. .��_�.
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<br /> : �ra�:��,�'�:�:� 2. Title. Borrower is the owner of the Property and --.
<br />` � .:,_ � ���'��� , � , has the right and authority to convey the Property. _�
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<br /> : �;,'y � � ,`' "'-�'•"t' � 3. Taxes Assessments. Except when they are con- �,:R.-
<br /> �, .� �r;�_}� r}^, �.,
<br /> � � �� ,.r.�,. tested in qood a th, to Pay when due all taxe�, spec$ax assesa-
<br /> � �� .���'. ments and all other charges aqainst the Property and, upon d�
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<br /> /�` �. r: • wxitten demand b,� Lender, to pay to Lender such amount as may be =
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<br /> ., t.,�•y� .• . :;};�„ �ufficient to e:�able the Lender to pay such taxe�, aesesomenta o�r
<br /> , ;���.�.lA��=� . � �, ` � other charges as they become due.
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<br /> .. . . �,_ ., 4. Insurance. At the begi�ninq of construction or
<br /> . . `�J`�;', - ' renovatfon of u ld ng, to keep the Property insured against �___
<br /> ' '°��::�=� �`.'�'� � c3amaqe by fire, hazards fncluded within the term "all risk s_
<br /> ..Y:� • �o���`: ' � � , coverage" , and such other hazards as Lender may require, f n -_-
<br /> �., . ` � ���>>"�'��"� ' ' �' amounts and with compan�ies acceptab�e to Lender� including a
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<br /> '` '. ` '~`� standard mortgaqee clause with loss pay�able to the Lender. In �
<br /> ���_` � a t �.,�-�'%Y�t;°�`• c a s e o f l o s a u x n d e r s u c h p o l i c ies, the T.ender is authorized to '
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<br /> i `: , •'��`fl��.•,��.'ry�� �d3ust, collec� and compromiae all claims thereunder and shall
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<br /> �.= ,, + ,?�i�;�t<jfi�°);�} inave the opt�.oa� af applying all or part of the insurance proceeds �-
<br /> _�� .,, �,,. . ;:r''��Z;��, .�� qY) �m Any indebtedness secures� hexeby and in such o�cder as ,
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<br /> �,r Lea�der rmay �etermine, lii) t� tD�e Bor�awer to be used for the �,
<br /> " ; ' i. , ' rrepair or restoration o� tE�e II�roperty or (iti) for any other �;:
<br /> ''�, '' �� � ur ose or ob'ect satisfacto� to Lender without affec�ing the
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<br /> `��. ::L�:-::::.;, lien of this D�eed of Tra�s� �or the full amou�a�t secured hereby� ,
<br /> �' ° �'��� •���` �� � �� ' before such payraent ever took place. Any appliaation of proceeds ,
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<br /> � ��- � , ,,,,,.,�,,,.:> �, to indebtedt�ess shall aat extend or postpone the due date of any
<br /> , .�� ����'c ;`• payments under the Note, or cure any default thereunder or here- ;. �.
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<br /> :_�:',..��:;1 � . 5. MaintenAnce Re airs and Com liance with Laws. �
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<br /> ,.,�:�. Borrower shall eep ti e property n goo con t on an repa r=
<br /> � ehall promptly repair or replace any improvament which may be
<br /> • „ � damaged or destroyed= shall not commit or permit any waste or
<br /> ��;`•. � �� deterioration of the Propertyt ahall not remove, demolfsh or
<br /> substantially alter any of the improvemente on the Propertyt
<br /> ��-� � ohall not commit, auffer �r E,eiii�ii� a:�� ac� to b� done in or uFen
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