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� "�'"-- - _ - _ - �- -- -�--��- --� - - - r}._.�_-_---'—�-__ -- c , ' . " '."`Si'.'iv?uY_di��'a- - .�a.:.� .-- . ---- — � -- _ _�. .__—_— . � _ — This Daed o�' Tru�t ahall aecure: � 1�� � (a) The payment of the principel ewn and intere�t evidence� by HorxoWer's Conetxuc�ion Line3 0� Credit Draw Note dated Qctober 31 , 19 9b . havis�q a maturity date of Ma i �997 ,�n the orfg3.nal p�i�efpa�. anour.t o Si�:t Thau�And .:�d Hol1Q0---------0olla�rs (S 60,000.00 ) , and any an a a�od aatione� exteneions and renewals therc:of or thercto and any ancl all future advances and readvancea hexeunder pureuant to one ar more promissory notes or credit ac�reemeats Iherein called "Note") ; (b) The paymr�nt of other auma advanced by Lender to protecfi the security of the Note; (c) The perf'armance af all covenants and aqree- ments of Borrower set forth hereint and (d) All indebtedness ana obligations of Barrower to Lender whether direct, fndirect, absolute or con- tingent and whether arisfrcq. by note, quaranty, over- draft or otherwise advancee� gor the purpose of making improveiaents to �he real es�ate hereinabove described. The Note, and any� and all other documents that secure the Note or otherwise execnted in cannection therewith, inclucling, without limitation, guarantees� security agreements and assignments of leases and rents, shall be referred to herein as tlie "Loan Instruments." Borrower, to pra�ect the security of this Deed of Trust, covenants and agrees with Lender as followa: 1. Pa�ntent of Princi al and Interest. Borrower shall promptly pay when due t�e princ pal of aad 3nterest aa,� and any - �e�.a r�r nhar�f+,� t�rnvideci i.n. the NOte O,r =.ri t1138 DeP,.c� crr Trust. _..... ---- -- ----��-- • ._ _ _. _ 2. Title. Borrower is the ow�ner o�f the Property and has the right and authority to convey the Propes�y. 3. Taxes Asseasments. Excegt when they are aon- tested in qoocl a th, to pay w en due all taxe�� special assess- ments and all other charges against the Prapertp and, upan written demand by Lender, to pay to Lender such amount as may be sufficient to enable the Lender to pay such taxes, assessments or other charqes as they be�ome due. - 4. Ynsurance. Ae the beginning of construction or • renovati.on of u d nq, to keep the Property ansured against damaqe by fire, hazards included witti�n the term "all risk coveraqe", and such other hazards as i�ader may require, in aiaounts and with companiee acceptable to Lender, includinq a standara mortqaqe� clause with loss payable to the Lender. In case of loss under such polfc£��, the Lender �s authorized to adjust, collect an@ aampromise all claims thereunder and ahall hav� the option of appzY�ag all or part of the �nsurance proceeds (i) to any indebtedne9s secured hereb� and in such order as Lender may determine, (ii) to the Borrower to be used for the repair or restcsration of the Property or (iiiT� for any other _ purpose or vbj�ct satisfaetory to Lender witt:ct:t affecting the lien of thic Ueed of Truet for the fuZF amour�t �ecured i�ereby before suah pa�ent ever took place. Any application �f proceeds to indebfiedneas shall not exteru'! or postpone th� due date of any payments under the Note. or cure any default tEtereunder or here- under. � 5. I�laintenan�e Re afrs an� Com �fance with ' Laws. . Borrower shall eep t e Pro�erty n ga conc3 t on an repa rf shall promptly repair or replace any improvement which may be damaqed or destroyed= shall not commit or permit any wasfe or - deterioratfon of the Property; shall not remove, demolfsh or �ubstantially alter any of the improve�aents on the Property; - sha11 not commit, suffer or permiti any act to be done in or upon -2-