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<br /> � - �� This Deed of Trust shalY secure s , . a..=---__�--
<br /> �y,e.y,�:�,s:�"�'-
<br /> eres� ��.�.�..�.�- —
<br /> � (a) The paymant af the principai sum and in� ��;,,v,.�___
<br /> � evidonced b� Hox�rowe,r'B Canetruetion Line of Credit �. .:'�`•_���°�
<br /> .� ..,....._..__.
<br /> �� Draw Note d�ted Aprii 5 • 19 94 • having a ' � T' �
<br /> ��.. . �•.�;�''Esr k= __
<br /> maturit date of se tember 27 1994 ,�n the original � ��.��•�-
<br /> S► � �...=t�•w`)l:,r��
<br /> . - --- �a��,ne�pal amount o Fift Thousand aud No/100 ---Dollars • . � ;���:=�.K_--_
<br /> � (�50,000.00 ) , an8 any an a mo oat�ons�v �tensions f ��� tr;�-�.::_�`��
<br /> ;:�;.�,�...
<br /> aad renewals thereof or thereto and any �xi.d all future �.� ;;'r'���;;�,���:__
<br /> advances and readvancea hexeunder pursuan� �o os�c� or r "�`L�''�-�'�--
<br /> :n:,Qi�-.��.._N._
<br /> �� mare promissory notes or credit agree��sa�� QEi�a�fa � ::�-"`----�--__
<br /> called "Note") 1 .,- �''��
<br /> �.;�:��. :-:.-_----,--
<br /> ,_• °r-
<br /> � (3�) The payment of othex sums �clv�mced by Lender �'��`-F�t,;•:fi:;���
<br /> to protect the security of the No�ea .: �,';�,;_�- -
<br /> •,Y:=- _
<br /> -...v.�`^=_....
<br /> (c� ��e performance �g al]. covenaanta and agree- _ �:._�.____ _
<br /> ments of �ogrower set f¢�r�k� hereint and ' , �� '''�'_
<br /> . � ';r.; _
<br /> , (di A1JL ind�b��c�ness and obligatioris of Sorrower �., . ,� ;;_����_�
<br /> to Lender ��k�ethex a�irect, indirect, absolute or con- �f�.�,�„ .-;-- _ -
<br /> ° tinqent and whether arisinq by note, quaranty, over- .�:, .;, ..�..-,�„�.__
<br /> " draft or otfierwise advanced for the purpose of makinq �� , ��:'.;,?��;:-� ---
<br /> •or, �.',.�:.��,_.�__._
<br /> � improvements to the real estate hereinabove described. , ,��., __
<br /> The Note, and any and all othe.r documents that secure �.,k °'— _
<br /> the Note or otherwise executed in c�nnection ttaerewith, ;.;.;��, : "
<br /> :a., � • inc]Luding, without limitation, gu�san�ees, security �ti3��'�`4tf� Y
<br /> �, , =� = . ar,rc�.�:ents �nd a�s�gnment� of leases ammd �rents, shall -
<br /> 'fC�;:;,,,,�� be r�eferred to herein as the "Loan Instrv�en�s."
<br /> ��-�--,-,r,�..
<br /> . � ' • :� -r•
<br /> Borrower, to protect the security of this Deed of Trust, ' . ;�
<br /> � covenants and agrees wi�h 7�ender as follows: , : � � �
<br /> %'�t;�. -
<br /> .,. ::. ��;-::<�'� �
<br /> 1. P�a ent of Princi al and Interes�. Horrower shal'1 �. ,,;:;:w �4 '
<br /> rom tI a whe� due the r nc pal of and interest on, and any ��z��:"����",6�;
<br /> P P Y P Y P , �ti':��,�
<br /> fees or charqes provided in, the Note or in this Deed of Trust. . ..•:J�;�
<br /> � '"� � 2. Tatle. Borrower is the owner of the Property and � �'.'`�;' ; �a
<br /> , 1 �
<br /> ;;,5 . .. �
<br /> ',,�.��....
<br /> :r,;,�;�`.��:%' has the riqht ar��c1 authority to convey the Prop���.X• � �,;;,�: ,� ,;y��*-
<br /> ',f�;::. �
<br /> y. i�
<br /> 3. Taxes Assessments. Except whe� they are con- i y•'� �•
<br /> tested in good fait , to 7Pay when due a�.l taxes, special assess- � ��
<br /> ments and all other charges aga�.nst the Prop�erty and, upon �
<br /> svritten demand bv Lender, to pay to Lender suc4� amount as may be � •
<br /> sufficiemt �o en�able the Lender to pay such taxes, assessments or � :.+;;,;���
<br /> other char.g�s as they become due. , -
<br /> . 4 . �nsurance. [�'t tne AeyiiYi�.;.iig af 4V�1Jtruction or � ..-_
<br /> �' renovation of bzail��ng, to keep �he Property insured against `. '. '�'�:''��.:,
<br /> t��,.1��" � damage by fire, hazards included within the tezm "all risk � ,
<br /> • '� coverage", and such other hazards as Lender may require, in � .• •
<br /> amounts and with companies acceptable to Lender, inclwding a
<br /> s�andard moxtgagee clause with loss payable to the Lend�r. In
<br /> case of loss under such policies, the Lender is authorized to �
<br /> adjus�, collect and compromise all claims thereunder and shall
<br /> have the option of applyinq all or part of the insurance proc�ee3s , .
<br /> (i) to any indebtedness secured hereh5p and in such urd�� as '� •
<br /> Lend�s :�aay determine, (ii) to ttne Borrcr�c+rer to be us�c� �m� �I�n� �:���`;' .:
<br /> •``"•'� repair �r rest�sation of t�e Pr�perty ar tis.i� for any ot�a��
<br /> 7 purpose or ob;��t satisfactorT� �o Lender witl`�csr.r+� affecting �tT:,�
<br /> lien of th�.s D�ed of TPU�t for the fnll amount secured hereby
<br /> . . � befog� sucpn payment eves� �ook place. Any application of proceeds
<br /> ; to i�d�l�tec�ness shall not extend or postpone the due aate vf any
<br /> i payments urtder the Note, or cure any default thereunder or heze-
<br /> � under.
<br /> 5. Maintenance, Re airs and Com liance with Laws.
<br /> I Borrower shall eep t e Property in good condit on an repa rf
<br /> ! shall promptly repair or replace any imnrovement which may be
<br /> � ! damaged or destroyedj shall not commit or permit any waste or
<br /> ; deterioration of the Pxopertyi shall not zemove, demolish or
<br /> substantially alter any of the improvements on the Property;
<br /> shall not commit, suffer or permit any act to be done in or upon
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