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<br />FOR THE PURPOSE OF SECURING:
<br />..' !'aymentofindebtednessinthetot.alprincipalamountoU Forty eight thousand and no/lOO---------------
<br />WIth Ulterest thereon, as evidenced as follows:
<br />
<br />UI ~misory Note dated March 24. 1986. in the principalamount of
<br />
<br />88- 102428
<br />
<br />Sixty thousand and no/lOO
<br />
<br />-----------------------J$ 60. 000.00 ) together with interest thereon with a maturity date of
<br />
<br />3- 21-96 wherein the Trustor is the Maker and payable to the order ofthe Beneficiary, and which by this
<br />referenct' is hereby, made a part hereof, and any and all modifications, extensions, and renewals thereof.
<br />
<br />~) All further loans or indebtedness owed or to be owed by Trustor to Beneficiary, according to the terms of any future
<br />Promissory Notes or other evidence of debt, provided that the maximum amount secured by this Deed of Trust now or at any time
<br />
<br />h fte hall t d Forty eight thousand and no/100------------------------------::'I . terest
<br />erea r s no excee P'US m .
<br />The obligation of the Beneficiary to make further or future advances or readvances shall be optional with the Beneficiary.
<br />b. Payment of Rl.I sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at the maximum legal rate.
<br />This Deed of Trust, the Note, and any other instruments given to evidence or further secure the payment and performance of any
<br />obligation secured hereby may hereafter be referred to collectively as the "Loan Instruments".
<br />TO HAVE AND TO HOLD the Trust Property upon and subject to the trusts and agreements hereinafter set forth:
<br />1. Tru.~tor agrees to punctually pay the principal of, and interest on, the Note or Notes and all obligations secured hereby on the
<br />dates and at the place and in the manner provided therein and to punctually perform all agreements. conditions and prove:ions of
<br />any other security instrument given in connection with this transaction.
<br />2. Trustor, at its expense, will maintain and preserve the lien of this Deed of Trust as a flI'St and paramount lien upon the Trost
<br />Property, will cause this Deed of Trust, and each amendment or supplement thereto, to be filed and recorded as 8 mortgage of the
<br />Trust Property in such manner and in such place, and will take such other action as in the opinion of Trustee may be required by any
<br />present or future law in order to perfect, maintain and protect the lien of this Deed of Trust, lIS the same may be from time to time
<br />amended or suppll>mented.
<br />3. If title to any part of the Trust Property shall be ta.ken in condemnation proceedings, by right of eminent domain or similar
<br />action, or shall be sold under threat of condemnation, all awards, damages and proceeds are hereby assigned and shall be paid to
<br />Trustee who shall apply such amount to the prepayment of the Note. Trustor will promptly, and with due diligence. repair. alter and
<br />restore the remaining part of the Trust Property to its former condition substantially to the extent that the same may be feasible
<br />and so as to constitute a complete and usable unit.
<br />4. Trustor, at its expense, will maintain with insurors approved by Beneficiary insurance with respect to the improvements and
<br />personal property constituting the Trust Property against loss by fire, lightning, and other perils covered by standard extended
<br />coverage endorsement. in an amount equal to at least 100% of the full replacement value thereof; and insurance against other such
<br />hazards and in such amount as is customarily carried by owners and operators of similar properties and as Beneficiary may require
<br />for its protection. Trustor will comply with such other requirement as Beneficiary may from time to time request for the protection
<br />by insurance of the interest of the respective parties. All insurance policies maintained pursuant to this Deed of Trost shall name
<br />Trustor. Trustee and Beneficiary as insureds, as the respective interests may appear. and provide there shall be no cancellation or
<br />modification without 15 days written notification to Trustee and Beneficiary. In the event any policy hereunder is net renewed on or
<br />before 15 days prior to its expiration date, Trustee or Beneficiary may procure such insurance. pay the premiums therefor. and such
<br />sums shall immediately become due and payable with interest at the rote of 18 % per annum until paid and shall be secured b~' this
<br />Deed of Trust. All policies of insurance required by this Deed of Trust, shall be delivered to and retained b)' Trustee. Failure of
<br />Trustor to furnish such insurance, or renewals as are required hereunder, or failure to pay Rny sums advanced hereunder shall. at
<br />the option of Beneficiary, constitute a default. AU unearned prcmuims arc hereby assigned to Trustee as additional securit), and a
<br />sale and conveyance of the Trust Property by the Trustee shall operatl! to convey to the purchaser the Trustor's interest in and to all
<br />policies of insurance upon the Trust Property.
<br />5. In case of any damage to, or destruction of, the buildings, improvements or personal property constituting part of the Trust
<br />Property, whether such loss is covered by insurance or otherwise, Trustor, at its sole cost and expense, will promptJ)' restore.
<br />repair, replace and rebuild the same as nearly as practicable to its condition immediately prior to such damage or destruction or with
<br />such changes and alterations aa Trustor may deem appropriate, provided such changes and alterations do not materiall)' lessen the
<br />value and utility of such buildings, improvements and personality from that existing immediately prior to such damage or
<br />destruction, Trustor shall be entitled to reimbursement from the Trustee to the extent of the net insurance proceeds received by
<br />Trustee, but only to the extent of the actual sum expended under this provision. .
<br />6, Trustor will do all things necessary to preserve its corporate existence, rights and privileges under the lows of the state of it..'l
<br />incorporation.
<br />7. Trustor will not commit any waste upon the Trust Property and will, at 011 times, maintain the same in good operating order
<br />and condition and will make, from time to time, 011 repairs, renewals, replacements, additions and improvements which are
<br />reasonably needful or desirable to ouch end. Not building or Improvement now or hereafter erected upon the Trust Propert)' shall be
<br />altered, removed or demolished without prior written consent of Beneficiary,
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