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' A1 <br /> '���, ' �l"' � /��""iOhrw - --- _ <br /> -- - _.,�,,v � � --_ <br /> �t�I �' Thia Dead of Truat ahall asaure: -----_. <br /> ..,�;�� -� (a) The payment o� tha priacipal eum and i.ntere�t �__-_—________ <br /> �- ;;,,�,,�.;�,;aµ ev3denced by Borrower's Construction LiaQ of Credit __,_... ... <br /> �. � DrAw Note dated AL+�±+;t 3� , 19 , having a <br /> '�''`."� maturity date of ,�n the oriqinal <br /> ^ �,�''- � �' • principal amount o .�Dollnrs <br /> }, ,�.-,.., __ �-- .. _ <br /> �-��-�- -: ; �- ° (;6 ) , and any an a 1 mod cationa, ex�ensions <br /> — ...�fLL�.� <br /> - --_ •• an renewa s �hereof cr thereto and any and all future <br /> .; a edvances and readvances hereunder purauant to one or <br />-�--.��'.�p..;.,,.. more promiaeory aotea or aredit aqreemente (herein __ <br />--,'�!r x� . . ", ..ti; oall�d "Nota") � <br /> ,��ti� � <br /> �,a3�,:�:� .��' ' (b) The payment of other sums advaaaed by Lender � - <br /> '� , to protec� the aeaurity of tha Note� <br /> .:l f ..�_�,.�,^ `V - <br />_ _ ���• � (c) The performanae of all covenan�a and aqree- __ <br /> �=:,' �:_�;; , ments of 8orrower set far�h I.arein: and <br /> :�:�' ,;�.�..,:"_•. .,.:�� =— <br /> . "•YJ� (d) Al1 indebtednesa and obliqations of Dorrower <br />-- • � . -��,..:._ .:....� ----- <br /> `' ��"���" to Lender whether direct, indireat, absolute or can- <br /> ,. 1.F ��.+L:, �.�n � �'ka'.n:. <br />- � �,�;;�`;;' tinqent and whether arising by aote, qnaranty, over- <br /> draft or o�herwise advanced for the purpose of making � <br /> � . . ,, improvements to the real estate hereinabove described. <br /> The Note, and any and all other documents that secure �` v <br /> � � the Note or otherwise executed in connection therewith, _ - <br /> ,���r � includiag, without limitation, guarantees, secur�ty ��n-=�•- <br /> :a ;� ' agreements and assi riments of leases and rents, shall --- <br /> be referred to herein as the "Loan instruments." � + <br /> .��`.�� ' ' � <br /> ' B��rrower, to protect the security of thia Deed of Trust, °g"`°""'' <br /> � • aovenants and agrees with Lender as followa: � __ <br /> ' ' , �u:x�r� <br /> ,;..- 0 1. Payment_of Princi�al and Interest. Borrower shall �_ <br /> . �, promptly pay when due the pr nc pal of and nterest on, and any ,.���_,;�1 <br /> � > fees or charqes provided in, �he Note or in this Deed of Trust. <br /> , � 2. Title. Borrower fs the owner of the Property and -��-��- �~ <br /> � " � has the right and authority to convey the Property. =-�-�� <br /> t. . . ..._:.�.....� ..__ <br /> ..�'a�•� � 3. Taxes Assessments. Except when they are con- _;�: <br /> tested in good fa th, to pay when due all taxes, special assess- " •�. ��,�'";�i. <br /> - a ments and all other charges aga ins t t he Prope r t y a n d, u p o n = <br /> written demand by Lender, to pay to Lender such amount as may be , � <br /> �' sufficient to enable the Lender to pay such taxes, assessments or L�.� . �-��_ <br /> � . other charges as they become due. ���'`°�=�`� <br /> ' � � �� 4. Insurance. At the beginning of construction or �� ' <br /> �' . -. �-:== <br /> ` � renovation of build�g, to keep the Property insured aqainst t ..;� - -+"`��'_ <br /> �' ' damaqe by fire, hazards included within the term "all risk F. -� <br /> , coverage", and such other hazards as Lender may require, in ; . <br /> � amounts and with companies acceptable to Lender, including a <br /> "' standard mortqagee clause with loss payable to the Lender. In � <br /> � case of loss under such policies, the LQnder is authorized to � <br /> adjust, collect and compromise all claims thereunder and shall <br /> have the option of applyi�q all or part of the insurance proceeds : <br /> (i) to any indebtedness secured hereby and in such order as . <br /> � Lender may determine, (ii) to the Horrower to be used for the ; <br /> • repair or restoration of the Property or (iii) for any other , <br /> purpose or object sat3sfactory to Lender without affecting the <br /> lien of this Deed of Trust for the full amount secured hereby <br /> before such payment ever took place. Any application of proceeds <br /> � to indebtedness shall not extend or postpone the due date of any <br /> payments under the Note, or cure any default thereunder or here- , <br /> under. <br /> ^ 5. Maintenance, Re sirs and Com liance with Laws. <br /> ' Borrower shall eep t e Property n qoo con it on an repairs <br /> . shall promptly repair or replace any improvement which may be <br /> ' damaqed or destroyed= shall not commit or permit any waste or <br /> deterioration of the Propertyj shall not remove, demolish or <br /> substantially alter any of the improvements on the Propertyt <br /> � shall r►ot commit, su£fer or permit any act to be done in or upon <br /> ; �� -2- t <br /> 1 <br /> �' ' � ' <br /> � � <br />