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<br /> This Deed o! Trust �hall aeaur�:
<br /> - (A) The payment o! the principal sum and inter�st
<br /> :�'�� . evidenaed by Horrower'a Con�truction Lina of Credit
<br /> ''���"`� Draw Note dated N/A , 19 , having a
<br /> � ,�--.��,_ ::".,� ,���_ maturity date of A ,�in the oriqinal _,
<br /> „.,,,.,:,,..., pzincipol amount o N A _- Dolle�ra �
<br /> (; x/[► ) , aad any an� a mo vat ons, extensiong
<br /> -_�,��;��, and renewals thereof or theretio and any And a�ll future
<br /> _�"<��.+� --���_.�-� advances and reddvdacee hereunder pursuant to one or
<br /> ��_.,�- �:��� more promissory no�es or credi� aqre�ment� therein
<br /> �" .�.:��3=:..�.��
<br /> �-^� - � aall.ed "Note") t
<br /> _.�Xl�i�at:s�;.:c:r.'t'Y'.a�
<br /> __ '"'������� � ��p"� (b) The payment of other sums advanced by Lender
<br /> g � :" . .;: to protect the security of the Notet
<br /> . '''s �,ry.. ..,- ��,�• ` :;;r. _
<br /> .,�°;. '� � _ ., •''�� (c) The performance of all covenants and aqree-
<br /> ��*� �: ments of Borrower seti forth hezein= and
<br /> td) All indebtedness and abligations of BorrowQr --
<br /> ��. to Lender whether direct, indirect, absolute or con-
<br /> ' �.`'���' ti.ngent and whether arising by note, guaranty, ovez- _
<br /> � draft or otherwise 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 —
<br /> � the Note or otherwise executed in connect3on therewith,
<br /> including, without limitation, guarantees, security
<br /> � aqreements and assignments df leases and renta, shall �
<br />- be referred to herein as �he "Loan Instrumenta."
<br /> �----=------_ -�_- Borrvw.s�, �o protect th� sacurity of this Deed of Tr�3Atj �
<br /> � covenants and aqrees wi�h Lender as follows:
<br /> 1. Pa ent of Princi al and Interest. Borrower shall
<br /> prompt2y pay when ue �he pr nc pal of and interest on, and any ��:
<br /> � fees or charqes provided in, �he No�e or in this Deed af Trust.
<br /> 2. Title. Borrower is the owner of the Property and �;_
<br /> has the right and authority to convey the Property. �T
<br /> �__.
<br />�� � � 3. Taxes, Assessments. Except when they are con- �
<br /> tested in good faith, to pay when due all taxes, special assess-
<br /> ments and all other charges aqainst the Property and, upon �""
<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
<br /> other charqes as they become due. .
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<br /> 4. Insurance. At the beqinning of construction ar
<br /> renovation of bui ding, to keep the Property insured against
<br /> damage by fire, hazards included within the term "all risk
<br /> �• coverage", and such other hazards as Lender may require, in
<br /> . �: amounts and with companies acaeptable to Lender, including a
<br /> L standard mortgagee clause with loss payable to the Lender. Tn
<br /> case of loss under such policies, the Lender is authorized to
<br />:�F � adjust, collect and compromise all claims thereunder and shall
<br /> ,-�. � have the option oE applyin� alI or part of the insurance proceeds
<br /> y , �� (i) to any indebtedness secured hereby and in such ozder as
<br /> , Lender may determine, (ii) to the Borrower tc� be used for the
<br /> :; � � repair or restoration of the Property or (iii) for any other
<br /> - purpose or object satisfactory tio Lender without affecting the
<br /> lien of this Deed of mrust for the full amount secured hereby
<br /> -�r ' ti - . ' before such payment ever took place. Any application of proceeds
<br /> � "`�""�''"'"' to indebtedness shall not extend or postpone the due date of any
<br /> .::.�. '� .
<br /> �=�� � - payments under the Note, or cure any default thereunder or here-
<br /> - - , ��'�+' under.
<br /> ..-; �:�:. : .;���:----',
<br /> � 5. Maintenance Re airs and Com liance with Laws.
<br /> ,,a, � • :��,t,..�<.. Borrower shall eep t e Property in goo condit on an repa r;
<br /> .:�;�. �: � shall promptly repair or replace any improvement which may be
<br /> - ' �- damaged or destroyed; shall not commit or permit any waste or
<br /> `� ,, .. ,.,, .' deterioration of the Propertyj shall not remove, demolish or
<br /> ' '���;� '�';,:• ' aubstantially alter any of �he improvements on the Property=
<br /> ahall r►ot cwamit, suf#er or permit any act to be done in or upon
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