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Credit Deed of Trust Note dated December 30, 1986, in
<br />the original principal amount of Three Hundred Fifty
<br />Thousand and No/100 Dollars ($350,000.00), and an
<br />Installment Note dated July 23, 1986, in the original
<br />principal amount of Sixteen Thousand and No/100 Dollars
<br />($16,000.00), in the total present principal amount of
<br />Nine Hundred Eighty Thousand One Hundred and No/100
<br />Dollars ($980,100.00);
<br />(b) the payment of interest at the rate or rates
<br />provided in the aforedescribed notes and the payment of
<br />both principal and interest on any and all renewals,
<br />modifications and extensions of such notes;
<br />(c) the payment of principal and interest on any
<br />future advance as may be evidenced by promissory notes
<br />stating they are secured by this Deed of Trust; pro-
<br />vided, however, that the total principal indebtedness,
<br />not including sums advanced to protect the security or
<br />interest accrued, shall not exceed the sum of Nine
<br />Hundred Eighty Thousand One Hundred and No/100 Dollars
<br />($980,100.00);
<br />(d) the performance of each agreement and covenant
<br />of Trustor herein contained; and
<br />(e) the payment of any sum or sums of money which
<br />may be hereafter paid or advanced by Beneficiary under
<br />the terms of this Deed of -rust, together with interest
<br />at the highest rate provided in the notes secured
<br />hereby.
<br />To protect the security of this Deed of Trust, Trustor
<br />hereby covenants and agrees as follows:
<br />1. Payment of Indebtedness. To pay when due, the prin-
<br />cipal of, and the interest on, the indebtedness evidenced by the
<br />note, charges, fees and all other sums as provided in the loan
<br />instruments.
<br />2. Title. Trustor is the owner of the property and has
<br />the right and authority to execute this Deed of Trust in respect
<br />to the property.
<br />3. Taxes and Assessments. To pay, when due, all taxes,
<br />special assessments and all other charges against the property,
<br />before the same become delinquent, and, In the event Beneficiary
<br />shall so require, to add to the payments required under the note
<br />secured hereby, such amount as may he sufficient to enable
<br />Beneficiary to pay such taxes, assessments or other charges as
<br />they become due.
<br />4. Insurance. To keep the improvements now or hereafter
<br />located on the real estate described herein insured against
<br />damage by fire and such other hazards as Beneficiary may require,
<br />in amounts and companies acceptable to Beneficiary, and with loss
<br />payable to Beneficiary. in case of loss under such policies,
<br />Beneficiary is authorized to adjust, collect and compromise, in
<br />its discretion, al-3 claims thereunder and, at its sole option, is
<br />authorized to either apply the proceeds to the restoration of the
<br />property or upon the Indebtedness secured hereby, but payments
<br />required by the note shall continue until the sums secured hereby
<br />are paid in -full.
<br />5. Repair, Maintenance and Use. To promptly repair,
<br />restore or rebuild any buildings or improvements now or hereafter
<br />on the property; to keep the property in good condition and
<br />repair, without waste and free from mechanics or other li,--ns not.
<br />expr€:ssly subordinated to the lien hereof; to not make, suffer or
<br />pe,rrut any nui.sance '10 eX4St nor to dininish or ;.T-mpair the va1u,_,
<br />of the property by any act or c)n.issJon to act; anl to ,oT-j)'. -
<br />a.11 requirem"rits of law witlt respf&ct to the Tro-ort"',
<br />Cnn d em T1 -i t ion n t e . v e n t:
<br />1 7 " t . n t or I
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