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<br /> This Oeed of Truet shall seaure: , ..t�.;:_��.
<br /> 1i .. ., �;f..;,�;Y:
<br /> ,. ° , (a) The payment of �he pr�.naipal sum anc� interest . " `��; =_�:-
<br /> - " evidenoed by Horrower's Cona�ruction Line of Credit � "'' '�-�-_.
<br /> - "�- - �- � t�raw Note dated M�rui� 25 , 19 44 , having a
<br /> . ,� maturity date of octobex 1. 1�94 .�n thei,�g���inal �, , ' . .
<br />_ : , principal amount of o lars
<br /> � . � (; 118.000.00) , and any and al inoa f aat ons, exteneions ;, �� �
<br /> � aad renewals thereof or thereto and any and all future '
<br /> � advancea and readvances hereunder pursuant to one or • °
<br /> more promissory notes or credit agreements (herein
<br /> , , ��
<br /> - . -- --�-.--:—�— ::aII�3 "t:ata")i
<br /> � (b) The payment of other suma advancad by Lender . " .
<br /> to protect the security of the Notej , �
<br /> .,� ' (c) The performance of all covenants and aqree- ''� -
<br /> � ments of Borrower set forth hereinj and ° ..
<br /> £
<br /> (d) All indeb�edness and obliqations of Horrower �
<br /> to Lender whether direct, indirect, absolute or aon-- " -
<br /> tingent and whether arising by aote, guaranty, over-
<br /> draft or otherwise advanced far the purpose of making
<br /> improvements to the real estate hereinabove described. L._
<br /> The Note, and any and all other documents that secure �,�W
<br /> the Note or otherwise executed in connection therewith, - -
<br /> including, without limitation, guaran�ees, security ��:�."
<br /> agreements and assignments of leases and rents, shall �
<br /> � be �eferred to herein a� tlia "Loan Instru��nts." - '
<br /> �_- - _-� -
<br /> Borrower, to protect the security of this Deed of Trust, �� • : �r
<br /> . covenants and agrees with Lender as follows: '
<br /> i
<br /> 1. Pa ent of Princi a3. and Interes�. Borrower shall " � �
<br /> li�' �
<br /> promptly pay when due the pr nc pal of and interest on, and any � ;.. �"
<br /> � fees or charqes provided in, the Note or in this Deed of Trust. � ;'/"
<br /> ,.
<br /> 2. Title. Borrower is the owner of the Property and � ,
<br /> � has the right and authority to convey the Property. • �l.i
<br /> � j � �
<br /> 3. Taxes Assessments. Except when they are con- ! , `�' '
<br /> tested in qood fa• th, to pay w en due alI taxes, special assess- i "
<br /> menta and a11 other charges against the Property and, upon
<br /> written demand by Lender, to pay to Lender such amount as may be �
<br /> sufficient tc� enable the Lender to pay such taxes, assessments or �
<br /> other charges as they become due. ; ,
<br /> 4. Insurance. At the beginning of cons�ruction or �
<br /> renova�ion of bu l�d�g, to keep the Prnperty insured aqainst '
<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 acceptable �o Lender, including a
<br />= standard mortqagee clause with loss payable to the Lender. In
<br /> , case of loss under such policies, the Lender is authorized to
<br /> adjtxst, collect and compromise a11. c].aims thereunder and shall
<br /> have the optioa of applying all or part of the insurance proceeds
<br /> (i) to any indebtedness secured hereby and in such order as
<br /> � Lender may determine, tii� to the Borrower to be used for the
<br /> repair or restoration oi the Property or (iii) for any other
<br /> purpose or object satisfactory 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 appliaa�ion of proceeds
<br /> ' .._ :..a..w..�a..ese eh�i � .,.,* AYtpr,r� �r vostnone the due date of any
<br /> ` �.. �...................... .._-- ---- --------- - - -
<br /> payments under the Note, or cure any default thereunder or here-
<br /> � � under.
<br />- � � 5. Mair�tenance Re airs and Com liance with Laws.
<br /> ! '�` Borrower shall eep t e Property n good con t on an repa rY
<br /> shall promptly repair or replace any improvement which may be
<br /> damaged or destroyed= shall not commit or permit any waste or
<br /> deterioratfon of the Propertiyj shall not remove, demolish ar
<br /> � �� substantially alter any of the improvements on the Property;
<br /> shall nat commit, suffer or permit any act to be done in or upon
<br /> � -2- '
<br /> ' ' �. , � __ _ _ .�
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