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<br /> � This Dsed of Trust shall secure: �� ���� . ,s� ' �"�°��"1
<br /> , ; �-
<br /> ;._
<br /> (a) The payment of the prineipal sum and interest � ' ''��_-
<br />' ev i dence d b y B o r r o w e r s C o n s�x uction L3ne of Credi� `���:�
<br /> Draca Note c3a�ed Seutember 30 � 19 96 , having a � , ,
<br /> matur3ty @ate of A�ril 1, 1997 ,�n the 1 iq ina l '` �
<br />,�:.L� principal alitount of Qae Hundred Fift Thoueand b No/ �O11aY8 ^ . .��
<br /> " ($ 150,000.00) , and any and all mod fications, extensions , , ; . �.r
<br /> and renewala thereof or thereto and any and alI future ::�;, .-~+ .a.._
<br /> � ; ,.� advances and readvances hereundez pursuant to one or _ , T.-.`���.��_,;.,�
<br /> � more promissory notes or esedit agreements (herein .� __ �.���wT_M
<br /> , .. '�' called "Note") f '�'"���:�..``;�'',..
<br /> , � �t:=;.•-�� -�:�,
<br /> (b�) The payment of other aums advanced by Lender s{,.,. �-- -
<br /> to protect thQ aecnrity of the Note; ' ���"�'�� '�� "
<br /> �� . -
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<br /> ; (c) Ttae performas�ce of a11 covenants and agree- . , ��y� -�._
<br /> ments of Borrower set forth here3n: aacg -:�,.�'�.r,�- ,
<br />, -�-��.-�_f������
<br /> id) All indebtedneas and ablia,�a�ions of Barrower � -;:�,�s;�,:.:;:a;._�.
<br /> rttr.,: to Lender whether direct, ind�rect, absolute or con--
<br /> ..:1�� �i;.y8'si� �Z� �ti►at�c�r� arising �!V note. auaranty. over� ��y_ � _ •
<br /> �,: ,. . draft or otherr�ise advanced fra� the purpase of making �
<br /> improvements to the rea2 esta�e hereinabove describea. r�•-
<br /> ,,�.::-
<br /> The Note, and any and $�11 oth�� docuut�ts that secure x;�-�
<br /> the Note or otherwise execut�ll in connection therev�ith, � � .•:'. r�=_
<br /> ;',,':. . � ; .:
<br />, .�:.,.,,. including, wi�hout litnitatiQr�.r guararstees, security . �:.:,�,:.,� _
<br /> ayreea=nts and assignments o� .��ases and re�a�sp shall :;,� -r. - —
<br /> be res�red to herein as the ��.oan Znstruments o" `
<br /> : n `�1.,,
<br /> �.�. ,...
<br /> ���--'��' � �^rra��a, to �roteat the aecTz�ity of this D� of irust. �..
<br /> >,,�;��5, �.,�a`��. ,.-_
<br /> °.:;r;��. ccz¢��ts ard agrc-�*-� with I,ender ar� LolYocvs: ��.�-. . ..
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<br /> .. �. Pa ent of Princi al and In�ex'est. Barrow��z shala �:_ _. .'r,�. ,��"� :;._
<br /> ': ' promptly ..�a� when due the pr nc pal of and nterest on, �>+� aAY �;,-�r;::�;����?=��• .;;.;
<br /> . :,._..�,:.
<br /> fees �� c����3eS Provided in, trie Note or in this Deed of �ust. ` :.��..., -
<br /> .r: �i�-•_r�.
<br /> ���'.�:;: 2. L�s�1�r�. Horrower ig the osvner of the Property and _-..- _ «^;
<br /> .� has the rig�r� �.�authoritv to co�.vey the Property. �;_,:�::.-.
<br /> • .� 3. Tax�� Assr���.�nts. Except when they aJCe .con- �4__'�"`
<br /> ` tested in goad a �I.�p tc�c �a� w� �a �ue all taxes, �s��cial assass- � ��.:�:.,..;,.•;-.
<br /> � iuente and all oth� ����c�G aa�ai.�r.st �he Propert� aand. upon _ ' `t: L,i�::':;:'.,�'-
<br /> ., u •
<br /> wri�ten demand by i�e�<3err, � pay t� Leader auch 2�ra�� �.s may be ��_�--=--
<br /> sufficient to enable the L2�Zer fio pay such taxes, -asses�r�.nts or .��.,.�_.
<br /> . . . other charges as they be��n:c� due. "� . ..
<br /> _ ',�,.�, ..:-•��� ,�
<br /> �� �. In��;a:.�nce. At th� Iiegi�inq of ���r�truction or _ �,r�,��.�����
<br /> T rt iaz�ared a �i.nst ' �•'�. .. �_
<br /> . � renovation of u �7�3ng, to keep tne Proge y � � ,,. _
<br /> damage by fire, &asards included within �he tezz� "all sisk -_
<br /> co vera ge", and su�h other haza�cds as Lender may requir�, in .�:...�
<br /> amounta and with ��a�npanfes acceptable to Lenderry includinq a �. �,:�. ►� �� v
<br /> � �tandard mortgage� �lause with loss payable to �lh:�� Lender. In �;���,r;�;,;,;.;'
<br /> case of loss under such policies, the Lea�er fa aUthorized to — ---- ___
<br /> ad jost, cal lect an8 compromi.se all clairaa t�iereunder ar.c� :�`�all __�_ _�
<br /> Isave the a�gion o� apply�.ng all or part c� �t�'"�� in�urance �Latceeds :_=:= -----,.
<br /> Qii to any inclelst..rzdness aecured hereby a�� in �.T�tzh o�d�z as � __ _;.
<br /> �.�;,,, T.c�nd�r may deters�o.%n.�, Iii) te the Borroz+��� to � �.sed for th� �-�-�--- -a¢
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<br />. � � • se�air or sestor�'::.on c•f the Pxoperty os (fi�1 ��� any othEr .: .
<br /> ���
<br /> � • purpose or obiect sati�L��cto�y to Lender �rithout affectiszg the — --
<br /> � lien of this Deed of Tru��t for th� full �ou�at secured h�reby �y�,��`
<br /> � &sefore such paymerc: ever took place. 1�iny application of proceeds :� , �;�_:
<br /> � to indebtedness shall not extend or postpone the due date of any t �:,�;:,
<br /> payments under the Note, or cure any default thereunder or here- ., _=_
<br /> : � under. -- �,;.�". '�--.,,
<br /> �::ir;,A..�,.Lk..�:_°�-
<br /> � 5. Maintenance, Re airs and Co liance with Laws. :q:.«��.{;:;;�,�
<br /> � � Horrower shall keep t e Property n good con tson and repa rt ...�;�,�:,,,�;;.�
<br /> shall promptly repair or replace any improvement which may be ��, �...
<br /> damaqed or flestroyedl shall not commit or permit any waste or ,_ � .�.-
<br /> � rleterioration of the Propertyl sha11 not renova, demoli�h or ____ - -
<br /> ,.. .
<br /> substanLiai.Iy a2�e� any of th� 3mgr4••eme*�±s on th,° Prflperty: _._.____ .;
<br /> . shall not comnzit, augfer or permit any ac� to be done in or upon � =
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