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<br /> a'� ��a �.�➢���� �,`�_
<br /> = This Deed of T�ue� ehal], eocures
<br /> �
<br /> � (a) The paymen� of. the pri»oipal sum and intarer�t ���=
<br /> �, evidenc.ed by 8orrower'r� Conetrua�ior� Lin�: of Credi� __.
<br /> - � U�eaw No4:c da�cd May 34 a :�9 96 , having a �-
<br /> maturitY da�e of December 1. 1996 ,�n the origSnal -
<br /> � principal amz�uni ox sevenc Thoueand and i10 100------t�e��.a.:u �_
<br /> (; 70�000.00 ) , and �ny and a . mod ��cat. one, extensions
<br /> and renewale thereof or �hereto and any mnd all future -
<br />-� advanceo and re,advances k�oreundar pursuant �o one or -
<br />�� mora pxomiaeory notee nr cr.od�.t agxeements (herein �-
<br /> -- called "Note") ;
<br />-- (b) The payment of other aume advanced by Lendsr
<br /> -- t� protec� tha oecurity of the Note�
<br /> - (c) Thc� perfax�nance af all aovenanta and aqrae-
<br /> ments �f Bor�:o`aesc eet gorth herei.nt And �
<br /> � •
<br /> (d) All i.ndebtedn��e and obl�.gat�tone of Horrower
<br /> - to Londer wHether direct, ind9.rect, abeo].ute or oon-
<br /> tingent and whether ariaing b,y note, gua�canty, over-
<br /> draf� or otherwiso advanced fox �he purpose of making -
<br /> i.mprovemente to the real estate hereinabove deacribed.
<br /> TY�e No�e, and any and all other documents that aecur9
<br /> the Note or otherwise execu�.ed in connection therewi�h,
<br /> including, withou� limi�ation, guaran�ees, secuxity
<br /> agreemen�a and� assignmente ot leasss �nd rente, shaZ1
<br /> �e raf�rr:.r3 t� hersin as thu ��T�an Tnarrumente_ " ,
<br /> Boxrower, to proteat �he eecurity of thia Deed oE Trust,
<br /> covenants and aqrees with 'Lender as followe:
<br /> 1. Pa ent of Princi a1 and Intereet. Horrower ehaY.l
<br /> promptly pay when due the pr nc pal oE and interest on� and any
<br /> fees or charges provided in, the Note or in thia Deed of Truet.
<br /> 2. Ti.tle. I3orro�aer ie the owner of the Property and �
<br /> has �he right and authority to aonv�ay the Property.
<br /> 3. Taxes Aeaeesmento. Except when they are con- .
<br /> teeL•ed in goocl a th, to pay when due a11 ta:ces, speefal aesess-
<br /> ments and �11 other charges against �he Property and, upon
<br /> written demand by Lender, to pay ta Lender such amount a� may be
<br /> __ sufficient to enable the Lender to pay such taxee, asseesments Ar
<br /> othar aharges ae they become due.
<br /> 4. Ineurance. At the beginning nf construction or
<br /> _ renovation of bu 1�din,c�„ to keep �he Property ina��ed againgt
<br /> damage by fire, hazarda included within the term "all riok
<br /> coveragQ", and such other hazards as Lender may ruquire, in
<br /> amounte and with companies acceptable �o Lender, 3.ncludi.ng a
<br /> atandard mortgag�e clause with xoss payable to �he Lender. In
<br /> � caee �f loss under such pol�.cies, the Lender is authorizecl �o
<br /> adjust, colleat �nd compromiae all alaims tihereunder and shall
<br /> --- havo i:he option of applying a31 or part af the insurance proceeds
<br /> -= (f) to any indebte¢lness eecured hereby and in sur.h order as
<br /> - �' �ender may deteLmine, �ii) to tlie Borrower to be used for the
<br /> -=-_ repair or restorat3on of the Property or (iii) for any other
<br /> _-� purpo�e or obiect sati��actary to .Lender without affecting the -
<br /> -= lie.n nf this Aeed of Trust £o� the full amount aecured hereby
<br /> � before such payment ever took p].ace. Any application of proceeds
<br /> a... d«Ae.L.�eAnoaa �h�l 1 nn� o_v_4�nnA nr nnat�nnnn the due date of ariV
<br />{_'..�� VV i��uvvrv����vr ����L" ____ -
<br /> paymenta under the Note, or cure any de�ault thereunde� or hexe-
<br /> � � under. _
<br /> �.�.
<br />:�:�:k. 5. Maintenance,_ ReQairs and Com liance with Zaws.
<br /><,�` Borrower sha11 keep the Property in good cond t nn and repa r=
<br />= '�}' shall promptly repair or r�place any improvement which may be
<br />'����� damaqed or destroyed= shall not cemmit or permit any waste or
<br /> detieriorat3on of th� Propertiyj ehall noti reinov�, demoliah or
<br /> ' ` substantially a]Lter any of the improvemente on tho Proper�yj
<br />- • oha11 not commit, r�uffer or permiti any aet to be done in or upon
<br /> -,;r:�
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