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<br /> �,. .Y (a) The payment of the prinafpa]. sum and iatereat
<br /> . evidenc�a by Bosrov�ex' s Construetion Ltne of Credit t_ ,
<br /> � ' Dra�a Note da�eS Aprii 1 , 19 94 , having a
<br /> maturity date of october 1 ,�n the oxiginal �
<br /> - - - - - principa2 amount o Fort �Piva Thousand and No/100--Dollare �_____
<br /> 8�45,000.00 ) , �a�a� any and a 1 tm¢�� cat oras, extensions
<br /> � � a,a�� seaae�als ��a�r�of ox tfiere�ca �mad �n�p �aa¢fl m�bS gv���ax� �.�.___
<br /> . : sa3�eattnc�s �andl r�a�d�ra�a���8 h�ar�v¢ma�er pnnns�nasn� �o o�n�a ox �__-
<br /> .::.;,`;;;.•. aaa�xe p�ama.�s�s�xy ne�tes or as�a3�.� aqtzc��e���� Qlhr�s��.�► „_._
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<br /> .t�;;:�,S`�� f� 'r ;�! �c'li�.1@0� m���E°a o° F�� ;'fri r
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<br /> ;;`�• ::�,t � ��';� advanced b}� lLen¢�erc ���;��:'? .
<br /> � � (la) T�e aymemt mf oth�x sums � <<�
<br /> r `�: �: to protec� �h� s�curit� o� the Notet � �'���' '�'-
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<br /> �.:C;�;:7`"r .
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<br /> . � (�} The performance of all covenants and agz�ee- - - _-
<br /> ments of Borrower se� forth hereinj and .
<br /> , .
<br /> td) All indebtedaess and obl igations of Horrower _.
<br /> to Lender whether direct, in8irect, absolute or con- •� ..:�
<br /> � tingent and whether a�ising by note, guarar►ty, over- „ _
<br /> � � draft or otherwise ��vanced for the purpose of making , -=
<br /> improvemente to the real estate hereinabove deearibed. -
<br /> The Note, an8 any aad all other documsnts thut seauro -
<br /> � � �he Note or otherwise executed in conneetion therewith,
<br /> inciudinq, withou� limitation, guarantees, security �
<br /> ---- --_ - - � � agraemcnt� and assigntnents �g a.3ases and rents, shall
<br /> ' be referred to herein as the "L•oan Instruments."
<br /> �
<br /> Borrower, to protect the security of this Deed of Trust,
<br /> covenants and aqrees with Lender as follows: •°
<br /> 1. Pa ent of Princi al and Interest. Horrower sha11.
<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 Trus�. ;: -_
<br /> ;;{;:
<br /> � 2. Title. Borrower is the owner of the Property and • ,_
<br /> has the right and �uthority to convey the Propezty. �
<br /> , . ;;:. ;.,,t -
<br /> � ., :.;.,: �
<br /> �,', 3. Taxes, Assessmen�s. Except when they are con- ,,r, ::�;;1: T.
<br /> .' ':�"�:; tested in good faith, to pay when due aIl taxes, special assess- �• ���r>?E '
<br /> �� � '' ments and all other charges against the Property and, upon �' ��"'`����
<br /> ..i .�.'� ��.
<br /> . written demand by Lender, �o pay to Lender such amount as may be , :, :
<br /> � � ., sufficient �o enable the Lender to pay such �axes, assessments or �,_,�`';��, �,
<br /> , o�her chargc-�s as they become due. dt•�
<br /> . . ' � of con�truction or �-..t�v��" -
<br /> � � 4_ Iusuranca. AL the beg.i.nn3.ng .-• � � _
<br /> ��;.��:..: i .
<br /> '-�-;�. renovation of bu lding, to keep �he Property insured against
<br /> damage by fire, hazards included witlYin the term "all risk
<br /> � coverage", and such other hazards as Lender may require, in � ��`i.
<br /> ' amounts and with companies acceptable to Lender, including a
<br /> � ';�:�::,,
<br /> standard mortgagee clause with loss payable to the Lender. In �
<br /> case of loss under such policies, the Lender is authorized to �
<br /> adjust, collect and compromise all claims thereunder and shall � �
<br /> have the op5�ion of applyinq all or part of the insurance proceeds
<br /> (i) to any indebtedness secured hereby and in such order as
<br /> Lender may de�ermine, (ii) to the Borxower to be used for the
<br /> . repair or restoration of 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 tha full amount secured hereby
<br /> before such payment ever took place. Any application of proceeds
<br /> to indebted ness shall not extend or postpone the due date of any
<br /> payments under the No�e, or cure any default thereunder or here-
<br /> under.
<br /> 5 . Maintenance Re airs arid Com liance with Laws.
<br /> ��•: • Borrawer shall keep t e Property in gvod con tion an repa r;
<br /> `�` � sha11 promptly repair or repl.ace any improvement which may be
<br /> damaged or destroysd; sE�a�1 not commi t or permi�t any waste or
<br /> . deterioration o� the Pro�Erty; shall not remo�e, demol.ish �r
<br /> ' substants.ally alter ang� a� the impro�ements on the Property;
<br /> ,�r �: . , sFna1S. rnot co�it, suffer o� permit any act to be done in or upon
<br /> s: . �
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