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<br /> � � 2. � Title.:'� Borro�rer is the 'owner of� the Property and
<br /> ~' , has the right aad authority ta coavey the Property. �
<br /> � 3. Taues, Assessments. Except . when �they `ue
<br /> aontested f� .qpod fa th, to pay �vhea due all� taxes, special —
<br /> -- ---- - as�essments aad all. other charges aqainst the Property and, upan -�-- - -
<br /> written demand bg Lender, to pay to Lender such anwunt as may be �-
<br /> • sufficient to e�able tlte Lender. to pay such taxes. assessments or �_�..�;
<br />- other charqes as they become due. �=�-_-
<br /> �� �. d. Insazance. At the begfnuing of construction oz ����..
<br /> � � renovatson of bnilding, to keep th� Property iasured� aqainst � _�"--
<br /> -,� : � �___��.�__
<br /> damage by f3.re,. hazazds �nc�uaea witn;n the terue, all risk ��
<br /> . . caverage";; a�sd: such other hazards as Lender may require, in �-�.��;��
<br /> ataonnts, aad w�:th con►pauies acceptable to Lender, includinq a - ;��,._'�`__
<br /> standard�martqaqee clause wit.t� lass payable to the Lender. � ��'��:�.=��;_-�
<br /> � case of loss under suah policies, the Lender is authorized ::� �._4: �
<br /> - - _:; � adjust� collect and c�nprcuni.se all claims tl�ereunder and:sha2� �:
<br /> � - have the option of applyinq all ar part of the insurance pra�cee�s ^. - _
<br /> � ��=�,.: � tf) to any fndebtedness secured hereby and in snch order..a� .. j�.: � _
<br /> �- Lender may determine, (fi1 f:b the Horrower to be used far �t�:e i °- _
<br /> ' �� repair or restoration of the Propertp or (iii). for any ot3ter ;.._. ^°�;��_.
<br /> �. . . .�7-�..
<br />: ` .� - purpose or abject sat�isfactory to Leader without affecting the ���
<br /> _��, .•"' � '���_
<br /> � lien of this Deed_ of Trust for the f�iL amount secur�d hezeby i,<< <- :1 �,_
<br /> �_.:,^.,'` �;...:�.�•�:,�-i==%';:=,-
<br /> .,_. . �ication o�` raceeds � �..-:.. ..-�
<br /> ;c : ��.��:r. � before such papment ever took. place. ��..��,a�g � �. , �,,�;-r,:.., .f
<br />� � :�:��- to indebtedness shall not extend or pos'�pone``�he due da�e.4xf any ��. ��`?'•�::f'r;r`• �. �
<br /> q. ��"�I�(. �}�':c5:
<br /> -.'. � payments nnder the Note, or _cure aay �default �her��.i%3�,_'Qa . `;" `� �` �.
<br /> . . . �; ,;,�j�.
<br /> � `�= �� � hereunder. ,. ��;:'�;,:���'� � :,�, ��
<br /> :<<� � :•; �<�
<br /> - . , ��: E. . . �s�
<br /> '_ .z: :_�; . ,%:�:�::�'•;:�'. � .;,r`.
<br /> . � ' ''�.�` 5. Maintenance� �Pairs and �Ca�Z.�ance�'��:���%��``�,�:rs. E . ..".�,� . .
<br /> " `--��"J�' ... Horrower shall keep the Prcgerty in gofld cng�iition �ad r�na�i �±
<br /> � :c�;a:-,����.:�;i�,: shall prompt�y repaiX or replace any...,i.�gs���ment wh�� may be �� ..,:`5.�;�1,.
<br /> ',cs, f damaged or destroyEdt shall not coum�:i.���or permit arig waste or �, ��.,`r��,
<br /> • ;� ,� .: • deterioration of tt� Property; shall not remove, demolish or !.. s�,t : , <_ f{;
<br /> a.. ,. ,..•, ; • !� ;-::>;� � ,�,;
<br /> ., � �. substantially alter any of the improvements on the Property; ;� ,y�,,,. �
<br /> ''�`•-��'�`� shall not cos�anit, suffer or permit any ac� to be done in or upon j� �.� � ,, �
<br /> ;f�.,. . ,
<br /> the Property in violation of any law, ordinance, or regulation; j � j -'
<br /> •.�;..,►:.:� , and shall pay and gramptly discharge at Borrower's cos� and ;.- - : • - -
<br /> . . � . " expense all lfens, encumbrancea and charqes levied, imposed or : � . -��,_
<br /> . ` assessed against the Propertv or any part thereof. � .:-'z�
<br /> . .,.�;�';:,�;;.. .� •, . ': � .
<br /> .;;.��.::.:
<br /> �:�;`: � 6. Eminent Dam�ia. Lender is hereby assigned all ; . � � _
<br /> -;, ` compensatian, awar s, damages and other payments �sr_ relief . F: � �.`�=.;,_�
<br /> �,r,�:;�;; : , '��:',;; . (herea.nafter "Proceeds") in connectian with condemn�.tion or other s � .f�;,;. ,�
<br /> � ��'''"�� takinq o£ the Property or part thereof, or far conve ance in lieu ;; �. #�g__
<br /> • ..:�`,2:.. ., ,,,`, � :,.. •.�`qr$,�;.'z�-
<br /> `� "���"`• `?`�:� � - of condemnatzvn. Lender shall be entitled, at i� =t�ption, to � 4;..�,:, ... -
<br /> .' : �;;:�1 � ,�, . �' .'. , -�s_.�.---
<br /> . .;�� �,���,.::,',;;�:�' . comiaence, a��ar in ancl pre�Qcute in its own nara.e :an�r, action or ���'�"' -
<br /> , .c•. � psa�edings, and sha��: also be entitled to make a�y c�mpromise or t "
<br /> �� ' � � .�� ' � set�.Lement in connecticn svith such takinq or danlag�., Tn the � ,"�+��';:� :�
<br /> ,,,,,; �.�� . . , . _
<br />. • •�'.:���` �� event any portion b� �e Pseper ty is so t a keri.o r d a i n a g e d, L e n d e r ; .��;��� ' .!
<br /> �` '.� � , 'shall have the option, in �its sole and absolute discretion�, �a , . -
<br /> . . � apply all such Proceeds, d��er dec]ucting therefrom all costs and ..
<br /> � �� � • expenses incurred by it in connection with such Proceeds, upon , � ,--��;,c�
<br /> �� � '�,.f'�':'; any ir�debtedness secu�'ed hereby and in sueh order as Lender may `�';�,:� •
<br /> ' '. ��y'� ' determine, or to a I�� all such Proceeds, after sucii deductions, ,t,��i��+��''
<br /> ., P� , . . :.;;�:
<br /> ���`:,�. . � to the restoration c�<the Propertiy upon such �onditions as Lender '. •% ;�• � �
<br /> ��' ' may�tletermine. Any a�plication of Proceeds tv: indebt�dness shall �'�.=�'.�`�:' . .
<br /> ;�;�;:��;�,s �
<br /> ;���,;ti�;;`� �. �` not extend or postp��r.e, the due date of any paycner�ts under the , ,- .
<br /> , ��� �' . '.� ;,`:?.;;. Note,, or cure any de£anit thereund�r rrr hereund�r. . ,�.:�;;,-�
<br /> ,�:;.1'. � . . ' � . . � . : . �3',•' �
<br /> 7. P�rformance h L_nder. In the event �f Borrower's :
<br /> � ' failure to per orm any af the covenants herei�� or make any
<br /> � � payments required hereby, or if any act is taken or legal proceed� ..
<br /> = � ing com:rtenced �ohich materially affeats Lender's interest in the .
<br /> . - -. - -- Property, Lender may in its own discretion, but withaut ob2iqation _ ,
<br /> '� ' to da so, and without notice to ar d�tnand upon Borrower,� and .
<br /> - - : - -: - - °�-= wi�hau4 r�2�asinr� Eerra•:�ez� from _�n, ohligation,, �a any act which , - --- - �_ --
<br /> the Horrawer has agreed but £ails ta do ana_may also 8o any ather ; .
<br /> , act it deems necess�ry to protect the security h�recf. Barrawer �
<br /> sha11, immediate2y upon demand ther�for by Lender, pay to Lend�:r �
<br />,',__.,,.._._. ���_. .._..:._ __ all, cnsts and_expenses incurred and sums expended by Lender in � �
<br /> � �� connectio� with the exercfs� �y �end�r of the foregoing r�ghts, � - - �-� �'�" �-- -"-�-
<br /> ' �� � ' � _ �3- 4 .
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