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200306192
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges
<br />and appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, including, but not limited to, heating and cooling equipment and such personal property that is
<br />attached to the improvements so as to constitute a fixture; all of which, including replacements and additions thereto,
<br />is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and all of the foregoing
<br />being referred to herein as the "Property".
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by Borrower's
<br />note dated May 5, 1998, having a maturity date of February 1, 2007, in the original principal amount of $100,000.00
<br />and any and all modifications, extensions and renewals thereof or thereto and any and all future advances and
<br />readvances hereunder pursuant to one or more promissory notes (herein called "Note "),; (b) the payment of other
<br />sums advanced by Lender to protect the security of this Deed of Trust, with interest thereon as provided in the Note;
<br />and (c) the performance all covenants and agreement of Borrower set forth herein.
<br />Borrower, to protect the security of this Deed of Trust, covenants and agrees with Lender as follows
<br />1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest
<br />on, and any fees or charges provided in the Note or in this Deed of Trust.
<br />2. Title. Borrower is the owner of the Property, has the right and authority to convey the Property, and
<br />warrants that the lien created hereby is a first and prior lien on the Property, except as may otherwise be set forth
<br />herein, and the execution and delivery of this Deed of Trust does not violate any contract or other obligation to which
<br />Borrower is subject.
<br />3. Taxes, Assessments. To pay when due all taxes, special assessments and all other charges against the
<br />Property and, upon written demand by Lender, to pay to Lender such amount as may be sufficient to enable the
<br />Lender to pay such taxes, assessments or other charges as they become due.
<br />4. Insurance. To keep the Property insured against damage by fire, hazards included within the term
<br />"extended coverage ", and such other hazards as Lender may require, in amounts and with companies acceptable to
<br />the Lender, and with loss payable to the Lender. in case of loss under such policies, the Lender is authorized to
<br />adjust, collect and compromise, all claims thereunder and shall have the option of applying all or part of the insurance
<br />proceeds (i) to any indebtedness secured hereby and in such order as Lender may determine, (ii) to the Borrower to
<br />be used for the repair or restoration of the Property or (iii) for any other purpose or object satisfactory to Lender
<br />without affecting the lien of this Deed of Trust for the full amount secured hereby before such payment ever took
<br />place. Any application of proceeds to indebtedness shall not extend or postpone the due date of any payments under
<br />the Note, or cure any default thereunder or hereunder.
<br />5. Maintenance Repairs and Compliance with Laws. Borrower shall keep the Property in good condition
<br />and repair; shall promptly repair, or replace any improvement which may be damaged or destroyed; shall not commit
<br />or permit any waste or deterioration of the Property; shall not remove demolish or substantially alter any of the
<br />improvements on the Property; shall not commit, suffer or permit any act to be done in or upon the Property in
<br />violation of any law, ordinance, or regulation; and shall pay and promptly discharge at Borrower's cost and expense
<br />all liens, encumbrances and charges levied, imposed or assessed against the Property or any part thereof.
<br />6. Eminent Domain. Lender is hereby assigned all compensation, awards, damages and other payments
<br />or relief (hereinafter "Proceeds ") in connection with condemnation or other taking of the Property or part thereof,
<br />or for conveyance in lieu of condemnation. Lender shall be entitled at its option to commence, appear in and
<br />prosecute in its own name any action or proceedings, and shall also be entitled to make any compromise or settlement
<br />in connection with such taking or damage. In the event any portion of the Property is so taken or damaged, Lender
<br />shall have the option, in its sole and absolute discretion, to apply all such Proceeds, after deducting therefrom all
<br />costs and expenses incurred by it in connection with such Proceeds, upon any indebtedness secured hereby and in
<br />such order as Lender may determine, or to apply all such Proceeds, after deducting therefrom all costs and expenses
<br />incurred by it in connection with such Proceeds, upon any indebtedness secured hereby and in such order as Lender
<br />may determine, or to apply all such Proceeds, after such deductions, to the restoration of the Property upon such
<br />conditions w Lender may detemrine. Any application of Proceeds to indebtedness shall not extend or postpone the
<br />due date of any payments under the Note, or cure any default thereunder or hereunder.
<br />7. Performance by Lender. In the event of Borrower's failure to perform any of the covenants herein or
<br />make any payments required hereby, or if any act is taken or legal proceeding commenced with materially affects
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