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<br /> T�is Deed of Trus� shall secusce: � 9�-0 �.�}��,� �a`
<br /> � ta1 The papmen� of the yarincipa� �um and in�eres� ��`_
<br /> �evidencec3 by �orrower's Construction E.ine of Cre3it ��
<br /> � Draw Note da�ted M�rch 29 , !9 46 , havinq a �-�
<br /> matstrity date of octo��r Z� 9g€i _,�n the or�ginai �-
<br /> �-�' principal amounf� of pne H� dred Thou�and aad No IOQ--�ollars ��_
<br /> ($ ip0,� p00.00), and any an8 alI mod�f3cations, extensions _
<br /> aud renewals tIsereof or thereto and any and all fnture -
<br /> advances and readvances hereunder pu�suant to one or �'.
<br /> more promisso�ry notes os cre83t agreements thereia �
<br /> , cal2ed "Note")t ��
<br /> . �.:
<br /> (b} The pa�ent of other svms advanaed by i.ender -----
<br /> ` '�� - to pratec� �he se�urity af the No�e f =__
<br /> '�,
<br /> (c) Th� performance of �12 covenants and aqree- -__
<br />_ rsents of Borrower set forth hereinj and
<br /> •�"� (8) P.�It3 in�ebtedness aad obligatians of H�rsower �-��
<br /> "' � �a Leader whetber direct, indirecst, absolute or con-
<br /> � � tingent �ad whether arfsing by note, guarantg, �ver- � �
<br /> draft or otherwise adnance@ for the purpase af �a3cing �
<br /> � , improvements to the real estate hereinabove des�rs.bed.
<br /> � fihe Note, and an� and all other documents that secure -
<br /> �_
<br /> ' t2ae Note or othar�ise executed in connection the�ew�.th, �
<br /> � including, withont Yiruitation, guarantees, s��city
<br /> ' agreemenS� and assignm�nts af leases aa3 sents, shal7. � _
<br /> ° be refer�3 to herein as the "Loan Instra�onts.° . _
<br /> . .�� ���rowes� ta g��a�ct the secwri� af this Dee�! mf Trnst. �
<br /> . . covenants and aqrees ��ra�h Lender as f��llows: �
<br /> �' 1. . Pa eatt of Friac� aI and Inter�sst. Borrowex sla�ll
<br /> . promptly pay w$en due the pr nc pal of .and nteres� s►za, an�t any
<br /> �� fr�es or ctiarges provic�ed �.n, the Iio�e cr in this Dest��..a�f T�zua�.
<br /> ��.. , � ,-
<br /> ,,. �.� � 2. TitZe. Hosrowar is the aw�ex of the Propertig and
<br /> has the right An�3�authority to Convey the Property. . _,.-.
<br /> � � 3. Tases, Assessments. E�ccept when they are cpn� u4�
<br /> teated in goad fa �h, to pay whan due all taxes, specS.al assess-
<br /> '.. � �ents a�sl aIl oth8r .charges agaf�st the Propex°ty and, uport ' _•
<br /> written demand by Le�der. ta pay to I.ender su�ch amount as. m�y be , �-
<br /> suf€xciQnt ta en3b�v �he Lsx�der to pap such �:�es, assessm�rz�s er
<br /> . ather charqes as they beaome due. . � .
<br /> � 4. insuraaice. At the beginn3.ng of constructi�n or �
<br /> � � reno�sat�on oi� u ld nq, to keep tYie Property insused agafns�
<br /> damaqe by �ire, hazards included wi.th�.n Ch� to�cm "aI2 risk -
<br />�. co*rer.�qe°, and such other� hazards as Lender may require, i.n
<br /> . . amonrs�.s and with companies acceptable to Lende�, inclu�dinq a .
<br /> " sta�+�,�i3 mor�gagee alause wi�h loss payable ta the Lendos. In �
<br /> � case a� loss under 3uch policies, the Lender is authorized to _
<br /> � . aaj�ast, co3.la�t and compromfse all claims thereunder and ��a31 -
<br />� ��;;�{ have ��5� ogtion of applying aLI or gasst of the insurance praceeds
<br /> �� ��������`_ (i) t�a any indebtedriess secured Iser�s�y and in sucta order as
<br /> .., tir;�f
<br /> ' `�y°t' Lenc�e� �ay d�termine, �fi) to the IIs�sromer to be ussd for the
<br /> repair or restaration of thQ Property or ifii) for any other
<br /> � puzpose or a�ject satisfactary to Lender wft:EYOUt aEfectinq tAe
<br /> lien of th�s Deed of Trust for the full a.:.ount aecured hereby -
<br /> � be£a�r� suc;� paymenti ever took place. Any applicatfon o£ pr.oceeds _
<br /> ' • • to S�ndebtes�nesa shal3 nv�. ex��n8 or ��stpone the .due date of any _
<br /> payments� under the No�e, or c�are any defa�nlC. thereunder or here- --
<br /> � uneer.
<br /> �• � S. Maintenanae Re airs and Com liance with Lams. -
<br /> . �asrower shall eep � roperty n good cond t on an repa r= _
<br /> � . shall promptly repair or replace any fmprovement wha.ch may b� -
<br /> . � damaged or clestroyed; shall not ce�eit or permit any waste or =
<br /> detesioration of the Property; shall not remove, de�olish or t
<br /> . - substantially alter any of the i.mproveiaen�s on the Property; �
<br /> .. .:
<br /> �- �'-- . . aha22 stat a��t, s�ffQr or �e*m�t any act to be done in or upon
<br />� -2- �"
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<br /> •,' • • ' ' - , ,- . . ..�. , . . . , . .. .. . - . +'..-�si . ...
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