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<br /> _ T6l18 DEED OF T�itl8T.1�tnsdo w oi th� i��h day�p Jun. ,19�.bf+and�mony
<br /> �Y��� �i�� �, ����� "�r ��,,,�ak�tros . hwbandr �e! �ii� ,
<br /> 11�9 S!►a�rrao Av� �irand I�lend Mo fi�'3-3�1
<br /> wt�oN mNltnp�d9rMS t� — (l�Mn"Trwoar�"wlsNha aw a n�on�, _
<br /> �T���i ,����n Pointa �nieL• lt�era�ka Gar�orat�on _�______ �,�,�
<br /> .� P.O. 8ox 1�7 Gr�nd Ialand, N8 68�2
<br /> . ,, vrho�t m�liinp�ddrNS li �--��—""'— (�����'�
<br /> ��a�� Fiv# Point� Bank �____.,
<br /> y w��������a��� �iS N. Hroadrall tir�nd Irland. N�. fs88la•i3�f ���«�.�
<br /> Rich�rd L IkolnL�ow
<br /> FOR VALUABLE CONSIDERATiQN.Indudinp tander'o exisnsbn of credlt tdentirtad Asnln to
<br />�,� , i Ctrri� Bsal�tro� �� �
<br /> (henin Borrower.wt�n on�or mtxq and ths trust hKNn on�rd.
<br /> ' �`�''"' ' ths r�cNpt of whiclti Is hereb�►acknowMdOed.Tntstor hersby trrevoably pnrrcs,transt�n,canwys and asfipM 10►Trup�,�N
<br /> ` :�'; TRUST.WITHPOWBROFSALE.torthebenefltanda�cudryalLender.urMKandsubJecttotMt�rms�ndconditlonsh�rNcaflu�et
<br /> f0���������u��vii�ion in t�� �ity oi Grand I�l�nd, H�11 Connty.
<br /> . litbraaka.
<br /> ��,�' .
<br /> . ,. . --�:�-. .��;,�
<br /> � . ;�*� f �:� Topelhsr wilh ail bulidirtps,ImprovemeMS,Qxturea streets.atleys.paseaQewaya,ea3emarns.dphf�prirltepN�►nd appuAo-
<br /> . *�;{�_,,;, nanoes IoaLrd tl�eon a in anywise P�nlnp thereto.end the renta.tasues and proflte�rave►ebns artd nrrwfrKlKS It�rof,and
<br /> � �r such peraonat property that Is e4tsohed to the Improvaments eo as b eonatlWte a flxture,tnaludtrq,but rwt IimlMd to,f�Mrq+u�d
<br /> �tq;�.,;..;�:�;-�•,.�: • coolinp equipmaf�end tapeMer wltF►the homeatead or maritat intereate.N any,whiah IMereals are hsreby retensd and walv�d;a8
<br /> �, ., �.. ' ' ot which.inctuding reptacements and eddition3 thereto,le heroby deatered to be a paR otth��ed e�te s�ound by tAet Iler�of 1hb
<br /> • �. . pesd ot Tiust and ali of ihe torepofop beinp roferred to hereln as Cne"Propert�'.
<br /> . �� °a���' ' This Osed ot Tmat ehalt aecure(a)the payment of the principal eum and intarest svldenced by a promtaory no�or cndk
<br /> � � apreement dated a�Q iStb 199�1 ,havinp e m�r'ny dete ot S�a 15tb 1999
<br /> �
<br /> � � � in the oflginal principal amouM of 5 �•�•� esnd any and ap modtflca�or�s.extsm!oos and anewal�
<br /> thereot or theroto and eny and at{tuture advartaes and►oacl�ancea to Borrower(or ar�y of tf►em H more than one)h�rowMa►
<br /> ' • purauant to one or more Dromiesory notea or eredit a�reemoms(herein cailed"Nota'1�tb)�e I�Y�t ot otber eum�edv�nced bgr
<br /> • Lendsr to protect the securiqr ot dha Note;(c)the pertormance of alt covenents and agreemenb ot T�uator asttort�hersin;�nd(�alt
<br /> � preaent and tuture indebtedneas and obllpaU�r�a of Borrower(or any of them if more than one)to Lend�er.whetl►er Oireot.indlnc�
<br /> • �� absotute or coMingen3 and whet�er ariainp by��ote.9uaranty.overdreft or ca�nerwiae.The Note.thla Oeed oi Thrat and ttr►y�nd ail '
<br /> ��` otAerdocuentathateeourethelVoteorotherwiaeexeautedinconneattontho�e�rlth.inctudingwithoutllmitaUonqueranless.�swrit�r
<br /> � , ;`��;�•: ' � agreements and aasipnments of�ases and rents.ahall be referred to heroin as the"Loan Documenb".
<br />- " ;"r,, , Truator e�renaMS and a�reas with Lenda►aa foUowa:
<br />.. :,,r,•;-.( 1. p�y�d�p,Ait indebiedneas eecured hereby shall be paid when dua
<br /> 2.T[tl�.Ttistor la the cwner of the Properly.hae the right and autha�lty W wnvey the Properiy,and warrarns that ths Uen
<br /> c r e a t e d h e r e b y f s a ft r s t a n d p r f o r tt en on the Pro p e ri y,exce p t tor Itena and encum6rances set torth by Tiustor in wdUrtp and
<br /> � � delivered to Lender betoro exeauUon of thta Oeed of Truet,and the exeoutlon and delivery of this Oeed o4 Trost doe�not v l o t ats arry
<br />- coMract ot otf►er oDlipatlon W whieh Truetor ta aubjeat
<br /> . 3. TauM,At�n�b.To pay betore delinquortay eIi taxes,spealat assossments and alt oMer charpea apeinsE�he Property .
<br />' now or Re►entter levfod•
<br /> 4, ItMUrane�.To keep the Properly insured against damage by flr0,hazaMa induded within the term"extended cOv�erape",and
<br /> suoh other hezarda aa Lender may requlre,tn amounte and wl�►comp�nies acceptable to Lende�.namin�L�der as an additlonal
<br /> named Inaured with�oas payabte to the Lender.ln aase of lose under eueh poltaiea,the Lende�fa auttwr�aed to adjueR eotleot and
<br /> . � � compromlae,a�l ataims thereunder and ahall have the optlon ot epplying atl or part of the Insurance procoeda(q to any indebtedneae
<br /> ,. securod hereby arsd in suah order as Lender may determine,(il)to t�e Trustor to be used for the repatror reatoration oltHu Properly
<br /> , ' °� . or(Ut)for any other purpoae or oblac!satlatactory to Lender without atfeaUng the Oen of thfs Deed of Tlruat tor the tu�l amouM saoured
<br /> . ,, hereby betore euch peyment ever took piace.Any applfoatlon of proceeds to indebtedneae at�ali not extend cr poatpone tAe dw _
<br /> � date of any paymente under the Note,or cure any default thereunder or hereunder. _
<br /> � � 6. Esee�ow.Upon wdtten demand by Lendar,Trustor ahall pay to Lendar,in sueh mflnner aa Lender may deylgnate.sufffetent
<br /> sums to enab�e Lender to pay as they become 6ue one or more of the toliowing:(I?ail taxea,aasessmems and other oha►gea againsi =
<br /> tho Properly,(iq the premiuma vn the property inaurance roqulred hereunder,and(Uq the premiums on ar►y moKgaps inau� _
<br /> - reQutred by Lander. _
<br /> �. � 8. �A�kttaur��.R�patn and CoenpQanc�wttA Lows.Twstor shatl keep tha Property in good conditton ar�dt vepatr.ehali _
<br /> prompdy repalr,or replace any Improvement which may be demaged or destroyed:shail�ot commlt or permft any waate or
<br /> . „ detertoration ot the propertyr,shall not remove,demolfsh or eubstanllaity alter any ot tAe improvemeMS on the P�operty;ehatl not
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<br /> • commiL suffer a pertnit any act to be done in or upon the Properiy in violaUon of any latiu,ordlnertce,or repu�ation;and shali pay and -
<br /> . , �.t,,-`? prompth►discharge et Trustor'�eoat and expense all i[ens.enaumbrances and chargoa[tnrled,impoaed or aasesaem a�atnat the
<br /> Propert�►or erry part thereot
<br /> ;� • � 7, EenYNnt Domsm.Lend�r ta hereby essigned ali com�nsaUOn,awards.damapee and othar pa�rmeMa or reifef(herefnafeer -
<br /> "proceeds")in�onnecdon with condemnaUon or other faktng of the Properiy or part thereof.ar tor corneyance in Ifeu of cortdemna•
<br /> • tlon.Lender shait be ertdUed at Its opdon to commence,eppear in and prosecute In fta own name uny aadon or prCCeedinga,and
<br /> shail alao be endNed to make any compromise or seritemeM tn conrtectlon with euah tskUg or dam�ge.tn the evetn any portfon ot
<br /> " • 3� tlte Properly fs so taken or damaged,Lender ahall have ti��optlon,in It8 sole and absoiute discretlon,to apply ait each Proceeda,
<br /> at0er deductirtg therefrom all eosts end expenses incurred Ey It In eonneetion with suah Proceeds.upon any indebtedneas secured
<br /> _�._u�..�n - -- �r........w.i�w....uw... H.fl�n.mwnttnn nf Ma
<br /> ; — Rereby ena�n suca oraer aa�ender maj�oco����i��v..'.:w o'y�.�y a.�o........,.,,�.....»..........�....-....�..�.__._.�._..-•-._
<br /> Properry upon euch condlUons as lender may determine.Any eppltcstlon of Proeaede to IndeDtednesa eha{I notextend or poatpone
<br /> 1�i • � � tho due daUa ot s�y payments under the Note,ar cure any detault thereunder or hareurtder.Any unappilud funda ehall be patd to
<br /> '� � � Trustor.
<br /> � F� g, P�rOom�tnp b�/tsnda.Upon the oceuRence of an Event of Detauit hereundmr,or it any act ia taken or Iepai proceedinp
<br /> commenced which materf�iyr�fbcts Lertder's IMereat M the Property.Lender may in itsow�disaretton,but without obtipatlun to do
<br /> ao,end withaut noUee to or demand upon Truaror and wlthout releaaing Tn�ator hom any obllpaNan.do any�at whkcl�Ttumtor haa
<br /> apreed bat tatls to do and may atao do any o9her aet it deema necoaaary to proteat the eecurity hereof.Truator ahall.immedistely
<br /> upon demand theretor by Lender,pay to Lender a�t costo and expenaea incunod artd sumtr expended by I.ender fn conneatlon with
<br /> �� ths exerefae by Lender ot Me forepofrtg�ighta,toQether with Intereat theroon at the detau�t rate provided in the Note,whieh sRe�t be
<br /> added to ttte Indebtednoss secured hereb�r. Lender ahall eot incur any Ifabltlty becauae ot t�nythtnq ft msy do or omit to do
<br /> ' herounder.
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