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<br /> This Deed of '�ruet ahall secure: `►���1,0t��rf
<br /> (a) The payment of the principal sum and interest • � �
<br /> evidenced by Borrower's Conakruotion Liae of Credit
<br /> " Draw Note dated July 20 , A995 , having �e �. �
<br /> _ maturity date of Januar 16 1996 ,�n the oriqinal
<br /> prinaipal amount o Fiftv- ive T ousand and No/100----8ollars
<br /> • :�-. ($5s 000.00 f , and any an a mo i aat ona, extenaions
<br /> . " , an renewals th�reof or thereto and any and al�l future �
<br /> advanaes and readvances hereunder pursuant to one or °
<br /> ° more prom3ssory notes or credit agreements (herein .
<br /> � called "Note")=
<br /> (b) The payment of other sums advanced by Lender , .
<br /> • to protect the secuxity of fihe Note= .
<br /> (c) The perfoxmance of all covenants and aqree--� �;;4� .,. ..
<br /> ` meats of Sorrower se� forth tiereint and ������� �'��°�'�"�� "
<br /> ��.,� . �t:,� ;�"�{.�,��,
<br /> • � ...=5;,;5:
<br /> ",,::�:;;� .� � (d) All indebtedness and obligations of Borrower "
<br /> �';�: ;;
<br />;.�_�:��.`� ���.'�;;�'"�� tn Lender whether direct, indixec�, absolute or con- ' �����` .
<br /> � tingent and whether arisinq by note, guaranty, over- � "
<br />. . draft or otherwise advanced for the purpose of making ° � '
<br /> ;, ' improvements to the real estate hereinabove described. , ,,�'�t-
<br /> " � The Note, and aay and all other documents that aecure
<br /> the Note or otherwise executed in conneation therewith, R! •4
<br /> includinq, without limitaxion, quarantees, seaurity �' i
<br /> ' ., agreemente and asaiqnments a f �.eases and renta, ehall �P�
<br />, .. � be referr.ed to herein as the "Laaa tnstruments." �, .��: (
<br /> . _., _
<br /> � ... S :.
<br /> �� . Borrower, to prateat the eecurity of thia Deed of Txust, , �� � .,� �
<br /> . aovenantr� an8 aqrc�ee with Lender a� follows: �� ��;�
<br /> " ,
<br /> �� 1. Pa ent of Princl al and Interest. 8orrower shall - � ��! •
<br /> promptly pay when due t e pr nc pa o and nteresti on, and any . �� ��; ,
<br /> " fees or aharges provided in, the Note or in this Dead of Trust.
<br /> „ • ' s��
<br /> 2. Ti tle. Florrnwer i s the owner of the Property and ,
<br /> , has the riqht and authority to convey the Property. , °-
<br /> , . ��-�r,'`.°�.�r.r.
<br /> � 3. Taxes Assessments. Except when they are con- ��,.r,
<br /> °„ � t�sted in qood ait , to pay w eh due all taxes, special aesess- ' ._;�;� °;• -
<br /> . , ments and alI other charges aqa�i.nst the Propert� and, upon � ,.,�:� '
<br /> . � written demand by Lender, to pay to Lender such aiaount as may be ' ;��.
<br /> ' sufficient to enable the Lender to pay such �axes, assessments or -- -
<br /> `.! � �. .�-- other ch�rqes ae they become due. ��•-�-
<br /> °n �, "•'!:%;:- ..
<br /> ,:. ... ..
<br />� ° '� 4. Insurance. At the beginning of construation or � �"�'�--
<br /> , , . . '?�.".
<br /> • _ .. . . ._. , renovation of �u�i�ing, to kec�p the Property insured aqainst .�.. :. ...__-�.,:..,-�
<br /> , � " . damage by fire, hazarda included within the term "all risk � ,
<br /> - " coverage", and such other hazards as Lender may require, in " „
<br />.. � ' amounts and with companies acceptable to Lender, including a • .�
<br /> ` standard mortqagee clause with loas payable to tihe Lender. In " -
<br /> � aaee of losa under such polioies, the Lender is authorized to
<br /> a$juat, collect and compromise all claims thereunder and ehall
<br />- have the option of applyinq all or part of th9 insurance proeeeda ��, �
<br /> (i) to any indebtednese secured hereby and in such or8ez as
<br /> Lender may determine, (ii) to the Borrower to be uaed for the �
<br /> repafr or restoration of the Property ox (31i) for any other ' �
<br /> ° purpose or object e�tisfactory ta Lender wifihout affecting th� : �
<br /> �� • lien of this Deed of Trust for the full amount secured her�by °
<br /> • � before such payment ever took place. Any application of proaeeds
<br />- ; ., � to indebtedness shall not extend or postpone the due date of any �
<br /> .� i ..��.�.�.�L� .�..��.. tL� q�a.� �..» J�t�"l� LL�� - .
<br /> ._ ._ _ _- �.� �...�� �.�.���` �� L�..�
<br /> . .__ .__ ____._ ,._..
<br />- -..-_: . .�..--•-�-- �1 �/ti�7UGatbO Mii4tSi {rili: ilVbG/ Vi VWiG Qitr YCii«{itr 4iiGLQYitYQi VL ilQiO� '----- --�-- � - - -
<br />- .. under.
<br />= 5. Maintenanae Re airs and Com liance witih Laws. " _
<br />-_ .. � Horrower ahall eep e Property a goo con t on an repa r=
<br />- , shall promptly repair or replace any improvement which may be �
<br /> � damaged or destroyedj shall not aommit or permit any waste or _
<br />�' ' • deterioration nf the Propertyt shall noti remove, demolieh or �
<br />� subgtantially alter any of the improvements on the Pzoperty=
<br />� shall no� commf t, euffer or permit any act to be done �in or upon , ". .
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