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<br /> �"�^�-:..`.. : D�ED OF TRUST WITH FtlTU6i�ADYAN�E3� �
<br /> ..o. .,:..C. .... ''�k
<br /> �'�� ��, , • THI5 D�HO OF TiiU9T.le made ae a1 tho �� day ot �P' .19�by and amt�np
<br /> PHILt.IP J CARI8T811STli i JOt>I I�YNIt CHRESfBM8�11 . AwD�nd taa �if� �
<br /> ,'�+ .h. tho'riu�tor, 8T _
<br /> J �3Q8 M CHASL�S GRAlIQ ISLAliD 11S 68803
<br /> ., , - whoa malllnp addr�aa I� _. (�Nn"Yrutsor:'whMha orn a mon�
<br /> ��� ",'� � the T�u�t�a� F'fvv Po��4a ti�i�. � DicD�c�t�a Co�rg��ralia� .
<br /> ,���: . . P.n. 8ox 1�'7 Gramd Isl�ad� !B 6880'a
<br /> �;�`� whose maL'in�tddress is (herNn•'TruetM'�.�nd
<br /> ,'x`` `'�fi Riv� Poidts �a�lt
<br /> �a:f�''r'�'��"
<br /> ,.,;. � „f;,�z,, the Bionnsticiary, •
<br /> ' �;�,i :y - :b.,�;.� ZOls N. Bro�dr�ll @sr.s�d Idsnd, MB�..GdSOZ-is07 �n"Lmdw�.
<br /> ,,.,• ,x . . ,,;�-,. whOSe mailinp 8tldtesS(6 �
<br /> "c .-r f�i�•.{y;t" PHIW.I� J CHftIBTR�S�i
<br /> },�,•;; ? :�-�. FOp VAWABLE CdNSI9ERAT10N,inctudtnp Lsnder's extenston of orodlt tdenUfled henin to_.
<br /> :n���-..�:,,.�,)�:�.14:, � JODI LYIIN CHRIBTE�SSN .
<br /> •�' � - (hereln`8orrowe�'.whether one or moro)and tM trurt harNn ere�qd,
<br /> .,t-,-,..,�.�... ; .�, t:
<br /> ::�•••,-•�' � '-;;; the�ecelpt of whtch ia heteby acknowledped,Tiuetor hereby irrovocabry�rante,transfsn,conveye and aalpns b Tius�,IN
<br /> •:�y��': . .���-� TRUST,WITH POWER OF SALE,tor ths benefltand eeaudty ot I.ender,under and subjset to the tercna and eonditiorrs hers�nafter tet
<br /> �R'�5��s...71"y��� ron��� ���c�3•� c� i.or oxs c i�, �.ocn rro �z�� c�n
<br /> ,_;r'�:,�:: .Y-: , ISltAltD. A!I 9DxTIWA ?0 '1'HB CI'tY OF GB/!1D ISl.A11D, UIII.L C,�l11TY, •
<br /> ,, ;,�: �,, , - �,a-��
<br /> � '7
<br /> ~:,�.:--. ,," ... � Topether with all building�.improvement0.flxtures,slreete,atteys.paeaa�ewaya,aaeemente. nphts.Privtle�es and apptira-
<br /> ". " nancea located therAOn or in anywise pertafning thereto,and xhe�mnte,iaauea nnd protits.reveralons and nemalnds►s tMr�M.and
<br /> � such pereonai propeety that is attached to the Improvements so as to aonaUtute a tixture.Including.but�ot Iimlted W,heaUn�euid
<br /> 1��� • • cooUnp equipmer�and together with the homeatead or maritat iMereste.M any,which Intereata aro hereby roleaaed and wah�d;ail
<br /> - , ot which.inatuding replacemerris and addMtondthereto,fa hereby dectared to be e part of the�eai esfate secured by the lien of thl�•
<br /> Oemd of T�ust and all oi the forepoinp betnp retened to hereln aa the"Prope�ty". -�'
<br /> � ' This Oeed of Trust ehall aeaure(a)tAe payment of the principat sum and Interest evidenced by a promtaaory note or crodR
<br /> ' " ag�sst� gepte�D�r 9th 1994 ,t�+ring s matuniy�lete�t �p��r iStb 1997 ,
<br /> � in tfie orFginal principal amaunt ot 5 ����� ,and any and eil modiflcationa.extenstona and renewale
<br /> •;;:� thereof or thereto and any and ali future advancer and ►eadvartces to 8orrower(or any of Nem if more than one)here�ndu
<br /> ''�`:� purauant to one or moce promlaaory notea or credlt agreemen�a(hereln calied"Note�;(b)the psyrrsent ot other euma advartced by
<br /> �'.'.� Lender to protect the eecurity o!the Note;(a)the perbrmence of all co�canants and agreemenl8 of Tivator aet brth herein;and(�ail
<br /> • • � : ' present end fuWre fndebtednosa and obiipaUons of Bortower(or any ot them N more tha�one)to L ender whether dt�ecL irtdlracR
<br /> ``�'�"'' absotute or contingent and whether ariaing by�ote,guaranty,overdraft or otherwfse.The Note,tt�la Oeed of Truat and anr ared att
<br /> ,.,�.. ,.
<br /> , ,:,;;�:. otherdoeuenbthataecuretheNoteorotherwiseexecutedlnconnectlontherewlth,irtaludingwithoutilmlfatlonguarantees.eeeurfly
<br /> ';` „ . agreemente and assignmente ot teaaes and rents,shall be reterred to horein as the"Loan Cocuments".
<br /> . Trostor covensnb and agrees with Lender as foilowa
<br /> .�c-:;:�..;,.,.�: . 1.Payas�t ot Inde�s�.a!!indebtedness seoured heret�y ehall b►naki when due.
<br /> �• �' 2.T[tl�.Trustor is the owner ot the Property,has th�►Ight and authority to comey the PropeAy,and war►ante that the Iien
<br /> �';;:;;;;�''' '� created hereby is a Hret end p8or Ilen on the PropeAy,except for Ilens and encumbrances set forth by Truator in w�idn�arid
<br /> ,� ;��, deiivered to Lender betore execudon of this Deed ot Truat,end ihe execution and defivery otthis Daed of Trust doea no!viMaLS any
<br /> contract or other obllgaUon to which T►ustor is subject
<br /> � . •� 3.Tixas.Ass�snnnb.To pay betore delinquenay all taxes,speciai ossesaments and ali olher chargos e�alnst the Properiy
<br /> ^ now or hereaft6r Iovisd.
<br /> • r.�,. 4.Irtwnmce.To keep the PropeAy insured eyainst damageby Hre,hazards Inc�uded wNhin the tortn"extended coverepe".end
<br /> � such other hazards as Lertder may requtre,in amounls and with companies acceptabte to L,ertder,namtng Lender es an addittonai
<br /> �.•,`;� ° named insured,wiM losa payabie to the Lender.ln cese of toss under such polictes,the t.ender Is authorized to adjtisW,coiteat end
<br /> • '� . compromtse,all ciaimsthereunder and sha�l have the optlon of applying ati or part of the Insurance proceeds(h to any Indebtednesa
<br /> � �� % secured hereby and i�auch order as Lender may determine,pq to the Trustor to be u$ed forthe�epafror�estoratlon of the PropeAy
<br /> �'� � `, �� or pii)tor any other purpose or obJect satlefactory to Lender without aifecUng the Ilert of this Oeed ot Truat Por the tuii amounteecured
<br /> ' i : � hereby bebre euch payment ever took place.Any appifcatlon ot proceeds to indebtedness shall not extend or postpone the due
<br /> ':'i : ' date ot any payments under the Note,or cure any defauit thereundsr or hereunder. _ ;
<br /> 5.Eserow�Upon wrttten demand by Lender,Trustor shall pay to Lender.in suoh manner as Lender may deslg�ate,sufHcfent �'���
<br /> �., suma to enable Lender to pey as they become due one or more of the tollowing:(I)all taxea,asseaamenta and other charges agslnst
<br /> the Pro�erty.(Iq the premlums on the property ineurance requlred hereunder,and(iii�the premlums on any mortgAge inaurance `
<br /> required by Lender.
<br /> •• 8.MslM�nanc�, R�paln aad Comptlanc�wNh Laws.Trostor shali keep the Property in good condltlon and repair. shatl
<br /> � f ,. promptly �epalr, or repiace any Improvement which may be damaged or deatroyed: shei� �at commit or permft any waste or
<br /> - deterloratlon d.the Properiy;ehall not remove,demolisA or aubstantlaliy alter arry of the improvemente on the Properly;ahatl not
<br /> commit,suffer or permlt any act to bs done ln or upon the Property f�violaUon of any law.ordinance.or reguiatlon;and shali pay and
<br /> prompUy dtschaoge at TrustoPs cost and expense al��lens,encumbrances and oharges Ievied,lmposed or assessed against the
<br /> • Properly or any part thereot.
<br /> 7.F.mtn�n!Oomain.Lender is hereby assigned al�compeneatlon,awards,damages end other paymenta or re�let(hereinatter
<br /> "Proceeds'7 in connectlon wfth condemnatlon or other taki�g of the Property or partthereot,or forconveyance in Ileu of condemna-
<br /> �� tlon.Lender aha�l be eMitled at ka optlon to commence,appear in and prosecute in tts own name eny actlon or proceedinga.and
<br /> shat�a�so be entttled to make eny compromise or setdement in connectlon with such tak[np or damage.in the event any portton ot
<br /> tho PropeAy fa so teken or damaged,Lender shali have the optlon.ln 1!s sole and absotute dlscreUon,to apply all euch Praceeda,
<br /> �4��J�J�.�3���L � �tl��W��d�....�..��I........nd�...t�Iw wwnwewHwn.u�H�e.�wi�D�wwndle��iufn o�lV Ifff�b}�11055 SBClI(A�
<br />'�'+ GIiOtVOYMVYItbY�01Vt�W��Yt�VVOWY�tivnp�r��w����vw�wv���r�.�wr..��w�...�.w.�w...���w�1'�••�••i-••—�—'__ '_.
<br /> ' � hereby and i�auch order as Lertder may determine,or to apply aN such Proceeds.atter such deducUons,to the restoradon of the
<br /> PropeRy upon suCh Condidon�a�lt3ndar may determine.Any eppticatlon ot Proceeds to indebtedness aha�i not extead or pos�sone
<br /> = the due dete ot any payments under the Note,or cure any deteult thereunder or hereunder.Any unappiled tunda shall be patd to f�
<br /> � Trustor. f
<br /> 8.P�ttorm�ne�by�snd�t.Upon the occurrence ot an Event of�efautt hereunder,or If any act ie ffiken or legat proceeding �
<br /> t �
<br /> �� commenced which materielly aHecta Lendor's interest in Ma P�operry,l.ender may In its own discretion,but without obligaUon to do
<br /> � so,and without noUCe to or demand upon Truator and wlthout re�easing Trustor from any obligatlo�,do any act which Trustor has i �
<br /> �i agreed but ialla to db and may atso do any other act i4 deems neaessary to proteet the security hereof.Trustor ahall,immediately
<br /> ,� upon demand theretor by Lender,pay to Lender al�costa and expenses incuned and sumsexpended by Lender in connecdon wifh
<br /> the exerclae by�endet of the forepotng rlghta,together with tnterastthereon at the default rete provideQ in the Note,which ehall ba
<br /> � add�M to the Irtdebtedrtess secu�¢d hereby. lender shall not Incur any Ilablliry because of anything it may do or omft to do ,
<br /> hereunder.
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