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<br /> � , - � � OELD OF TAUBY 1NITH�UTURE AOVANCES ----
<br /> �Y���'�'��;,•I��.�� ± � Tki8 OEED OF TRUBT�ia mado as of the �'tb dsy of ��r� .t�._.�4..by and amon� _�
<br /> 5 • . _ the Ttustot. ALLFiH Q PURBY e1n��,e R�reo� -. __ - -
<br /> , �13 lIi1LG01l8 STRE64 tiRAl� ISLAND 6�� ��r=�- _
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<br /> . Fiv4 Point� t3�a1t. i���br!�k#.S�LA^"�a�on . �:,�;�+.r.-:=—
<br /> tho T►u�tee,
<br /> �. P.O. Box 1587 Grand i�l�nd� !i6 68802 p ,.T�"��%�;;;:�.,�
<br /> whoso mailinp addreaa ia fierein Truetee 7�and � i ;
<br /> � • t ho 8 ene tt c fary. Piva Pointt B�ak � 2;,.'� �� _--
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<br /> 2015 ti. BrosdM011 tirand Salaad, EiE. 68802-1507 ° 4 � +,,f '`'
<br /> whose mallinp eddress ie (heretn"Lendet'�• . . -...�:.w;
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<br /> FOR VALUABLE CONSiAERATION,irtctuding Lenders extenalon ot credit idendfled hereln to , ,.,
<br /> ALLEH 0 FURBY (herein"eorrower",whether one or more)and the trust herein created. ���`
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<br /> the�ecelpt ot which ie hereby acknowledged,Y�uator hereby lrcd�rocably grente,transtera,convoys and assipos W TiusEBe,IN '.'`.
<br /> T6iUST.WRH POWER OF SALE.tor the benem and secudty c4 L�rtd�r,u�tdc3r.eerd subject to the terms�td eendttlons hereinafter as! �-•
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<br /> tg���g�I�111..�CK�TG0a�2)���LC�flI�3 I�II�P08 ��Dl� ?.AIA ADDa7'E@1�, �ifD�6'II'H OF � ` "
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<br /> YoBether with ail bulidinga,improvements,flxtures,streets,alieys,passageways,easemenffi,dghta,prtviteges and eppuRe- �.;;�'+�
<br /> • nances Iocated thareon or in anywise pertainirtg thereto,and the rents,issues end proNts,reversions and remainder8 thereof,end ' ,+•i'=�'
<br /> � � , such�arsonal property that is atteched to the lmprQVementa s�as to constituts a flxture,including,but not Ilmited to,heatlrtg and '••,t;�'+:
<br /> ° cooiin��quipmen�and together with the homestead or marttet ua�t�rests,if any,which Int�rests are hereby reieased and wa(v�d;aUt ��:.
<br /> • � ... � ot arhic�,inctuding repiacements and addldona thereto,is her��y��ctared to be a part oE the reai estate secured by tha IEon o4 thi� ' `'
<br /> Qeedl of Truet and ail oi the foregoing being referred to hereio as the"PropeAy". ��'��-?`
<br /> T9�ls Deed ot Trust shai�secure(e)the payment of the princlpal sum and interest evl�enced by a promisaory note or cred6t ;;•���
<br /> A ril 6th 1994 �ctobQr 3rd 199� �''`�'�f'��
<br /> ���Q�T„A�t�$� . P .hsavtnA a maturity dete ot . '�;?i�,;::_--_
<br /> 30,035.S0 �.;t+:.;'�:(�i���:t.,r`
<br /> in the�r�ginai pdncipaf amount oi$ and any and ali modiflcatlons,extensions and renewals ' ?�4is�',__
<br /> � thereof or thereto and any and all future advances and readvances to Borrower(or a�y of them if more than one)hereunder =_
<br /> ' pursuant to one or mcs��promissory notes or credit agreementa(hereln calie�"[�ate'�;(b)the payment of other eums edvanced by
<br /> Lender to protect the securiry ot the Note;(c)the performance of all covenanb ana3 agreements of TNStor set torth herein;and(�ati
<br /> ', !�, present and future indebtedness and obligaUons ot Borrower(or any of them it more than one�to Lender whether direct.indirect, . _�
<br /> �•. .••, abeo7ute or contlngent and whether arising by note,guaranty,overdratt or otherwise.7he R1ate,this Oeed ot Trust and any and atl �
<br /> ' � other dceuenta thet seaure the Note or otherwise executed!n connectlon therewith,Inciudin��vlthout limitatlon guaranteas,security "��-_
<br /> agreements and assignments of leases and rents,shail be referred to herein as the"LOan Oocuments". --
<br /> Trustor covenenb and agrees with Lender as follows: �._
<br /> 1. Peym�nt of Indsbtedness.Ail indebtedness secured hereby shail be paid when due. �.�.-
<br /> 2.Titls.Trustor is the owner ot the Property,has the right and authoriry to convay the Praperty,and warrants that the Ilen ' :.r
<br /> � creat�rd hereby la a first and prior lien on the Property,except tor Ilena and encumbra�ces set}orth by Trustor in writing and , —
<br /> �;;�,, delfvmrmC to Lender before execuUOn of thls Deed of Truat,and the execution and delWery o1•this Oeed ot Trust does not violate any ��
<br /> , " contract or other ob�igatlon to which Trustor Is subject ��`
<br /> ' � 3. Taxes,Aae�tmonb.To pay before delinquency ali taxes,apeciat assessments and ali other charges agafnat the PropeRy ��-,
<br /> � now or hereAfter levled. "�"
<br /> 4. lnsurence.To keep the Property fnsured agafnst damage by fire,hezerds Included witt�in the term"extended coverage",and . .
<br /> � such other hezerds as Lender rr�ay r�equfre,in amounta and w11r companiea acceptable tv Londer,naming Lender es an additionai
<br /> named insured,wfth loss payab7e t�the Lender.�n case of ioss under such poiiciea,the Lsnxier Is authorfzed to adjuaR collect end
<br /> comprom{se,all claims thereunder and shali have tfie optlon of applying all or part of the inaurance proceeds(q to any indebtedness ,
<br /> secured hereby ancl m such order as Lender may determine,pi)to the Trustor to be used for the repair or restoratlon Oi the Property '
<br /> � or pli)for any other purpose or object satisfacfary to Lender without aHectlng the Iien oi this Deed of Trust far the fuil amount secured
<br /> herebv betore such payment ever took plaoe.Any app�ication of proceeds to indebtedness shali not exiend o�poatpone the due
<br /> I dats of any payments under the Note,or cure any detauli thereuntler or nereunaer.
<br /> i 5. £serow.Upon wrftten demand by Lender,Trustor shpll pay to Lender,in such manner as lender may des�gr.a:e,sutffcient
<br /> sum�to enabie Lendar to pay as they become dus one or rnore n4 the toilowing:(i)all taxes.assessments and other chargas against
<br /> the Ptoperly,(6l)the�remiums on the proper3y insurance required hereun��r,and(iii;tt�e premiums or.any mortgage insurance
<br /> ' required by lendar.
<br /> � 6. Metntenenee,Repatn and Compliance wlth Lewt.Trustor shatl keep the Proye�ty in good condition and repair,shali
<br /> , � prompUy repair,or repiace any improvemeni which may be damaged or destroyed; s7a11 not commft or permit any waste or
<br /> deterioraUon of the Property;shali not remove,demolish or substanUalty aiter any oi th��mprovementa on the Property;shall not
<br /> � commit,suffer or permit any act to be done in oc upon the Property in vioiation of any law,ord�nance,or reguietion;8nd sheil pay and
<br /> prompUy discharge at Trustor's cost and ex�ense ail liens,encumbrances and charges levied,imposed or assessed agafnst the
<br /> P�opetty or any part thereot.
<br /> 7. Faninent�omain.Lender Is hereby ass��ned al�compensation,awar�s.afamages and other payments or rellet(hereinaft�r
<br /> , "PrQ�eds'7 in connection with�o^d�mnation or other taking ot the Properry or part thereot.�r tor conveyance in lieu of candemna-
<br /> tic�e I�or.�er shall be entltled at.�s option to commence.aGFea� �a�d prosecute in its c+�r. name any action or pra�c�a:G.�gs.and
<br /> � sl�al�aiso be entltled to make arty�ompromise or settlement.- •��nnection w�th such tak��g or damage.ln the eveni a^,�,-:-lion ot
<br /> � the Ptoperty�s sc taicen or damaged.Lender shall have the opl�on,�n its so1E an0 absolute d�acretion,to p�pty all such�roceeds.
<br /> , � efter deductin�tta�re4rmm all co91s and expensss incurred by it in Connect��n�ndh such Proceeds,upon ae�y:ndebtedness secured
<br /> _..�_
<br /> hereby and in sucP�arder as Lenaer may determme,or to appty aii sucn rvoteeds.aner sucn dvdu�ub,oa,iv u�@ iwwid`avi�v.ow
<br /> Properry upon�uch condiuons a�iender may determirte.Any application of Proceeds to ar.debtedness shall not extertd or postporoe
<br /> the dUe date of any paqm�rtts v�nder the Note.or cure arty default thereunder or hereuv�der Any unapplied tuRds SPra�!Qe paid to
<br /> Trustor.
<br /> g, performo�mse�q La�oslmr.Upon the occurrence ot an Event ot Default hereunder,or it any act ia taken or Iegal proceeding
<br /> r � commenced wtl�clR t�tsri&Ily a4tects Lertd��'s�nterest in the Property,Lender may in ita own discretlon,but without obtigation to do
<br /> so,and wlthcut rtatice 4o mr dEmartd upun Trustor and without�eleasing Trustor from any obligation,do any act which Trustor has
<br /> ' agreed but fails to do and�may also do any other act it deiema neceasary to protect the security hereot.Trustor shaU,immediatety
<br /> upon demand theretar by�nd�r,pay to Lender all coats and expenses incurred and sums expended by lender�rt ceinr.ecUOn with
<br /> the exetcise by Lender of U1@ 1'aregoing rlghts,together with interest thereon at the default rate provided in the NoOQ,vut+�ch Shall be
<br /> added to the indebtedness secured hereby. lender shalt not fncur any :�aD�t,ty t�cause of anything it may do or omit to do
<br /> , hereunder.
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