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<br /> � � �"� S�e�,di��ision a distance of 30 feet;thence running north and p�nrallel ta th�engt Ilrte ��>
<br />"`��;;: of said Seatian 21,a distanco of 165.5 feet;thence running eust und parallel ta die �f
<br /> ��� _-
<br /> � �-L south lane of Plea�s�nt IHome Subdivision n distancE of 30 f�e4 to the point of � �
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<br /> ��' � `�" beginning;
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<br /> �� together with all[�uildings�improvements,fixtures,streets,a�lcys,p�.ssageways,easem�ents, =-
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<br />-:�T- � � riglits�privileges and appurtenunces located thereon or in anywise pertaining thereco�and the
<br /> ' '� � � rents,iss�aes and profite,r�versions and remainders thereof,and such personal property that is �
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<br /> attached to the improvements so as to constitute a fixture,inctuding,but not limited to,heanng
<br /> y��!• . und coolfn�equip�nent and together with the homestead�r mrar[tal interests�if azny,which
<br /> � +�� r �. � interests are hereby released and waived,ull of which,including replacsrnents and additions =
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<br />:.;*�`�y`, 4hereto,is hereby declared to be a purt of the real estate secured by the lien of this Deed of Trust
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<br /> -�;�,�,: and all of the foregoing being referred to herein as the"Properry .
<br />_-:�...,�;. , � �
<br />`��:�,�d,�, This Deed of Trust shall secure(a)the payment of th�prnncipal sum and'ueterest __
<br /> '''='s���=��" � evidenced b a Construction Line of Credit Draw Note dated of even date herewith having a
<br />-�.,,�av_su�__ Y
<br /> =��� maturity date of May 1,2017,unless the call options therein contained shall be earlier exercised
<br />�'"�{��� � by ttia Lender,in the original principal amo�nt of Sia Hundred Thousand and No/100 Dollars
<br /> �,��_:�
<br /> ---=�=a'�� ($600,OQ0.00),and any and all modifications,extensions and renewals thereof or thercto and an,�
<br /> :;� and all future advances and re-advances to Borrower(or any of them if more than one}hereunder
<br />-w� pursuant to one or more promissary nates or credit agreements(herein called"Note"j;(b)the
<br />-__ payment of other sums advanced by Lender to protect the security of the Note;(c)the
<br /> -=" — �l�l;��-��af:.11 css:�snsntr a.n�?�r?.ements of Trustur set forth herein;and(d)all present and
<br /> —�� future indebt�dness and obligations of Borrower(or a�y of thecu if more than onep to Lender
<br /> -- whether direct,ind'uect,absolute or contingent and whether azising by note,guaranty,overdraf�
<br /> or otherwise. The Note,this Deed of Trust and any and all other documents that secure the Note
<br /> �� or otuerwise executed in connecrion therewith,including without iimitation guarantees,securitY
<br /> --�- �---- agreements and a�signments af leases and rents,shall be referred to herein as the"Loan
<br /> — Instruments".
<br /> TRUSTOR COVENANTS AND AGR�ES WITH L�NDER AS FOLLOWS:
<br /> 1, p�g+o Inde ness. All indebtedness secured hereby shall be gaid when due.
<br />- 2. Titl�. Trustor is the ovmer of tho Property,has the ri�i and authority to convey the
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<br /> ;- Proreity and warra�ts tb.at the lien created herehy is a first and prior lien on the Property and the
<br />--------_= execution and delivery of the Deed of Trust dces not violate aqy contract as��+►ber obligation to
<br /> - which Trustor is subject.
<br /> 3, T�x c scessm�nts. To pay before d�lira�uant all taxes,special a.�sessmenis•and all
<br /> � - other charges against t�e Property now or hereafter levled.
<br /> -- 4. ILt�. To keep the Properry insured against dar�:�ge by fire hazards n�c�s��ed with
<br /> -- ���: 4he tertn"extended coverage"and such other hazards as T.ender may requi��n acnouui�end wit}i ,
<br /> _.��=;� companies acaeptable to Lender,aaming Lender as an additional nauied insured with loss
<br /> v=;��'-�,--_',�''._��� payable to the L,��nder. In case of loss wtder such policies,the G�nder is authori2ed to adjust,
<br /> -===�==--�•_� collect and compxamise ull claims therei�ecier and shall ha.ve Yl�c optinn of applying a3�r part of
<br /> �_-������ the u;sur�nce proceeds(i)to any indebtedness secured hereby and in such order as Lender may
<br /> ""��{�; � detemune, u to the Trustor to be used for the repai�s or restoration of the�*roperty,or(iii)for
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<br />-:'°�`'�'?'� any other purpose or object satisfactory to Lend�er without affecting the lien of tlxis Deed of Trost
<br /> `J�»`� for the full amount seciued hereby before such paym��it ever Mok place. Any application of
<br /> ,_ .�_
<br />'-�?�``;'.`�� ,�� procesds to indebtedness shall not extend or postpone the aue date oi any paymenis unacr��
<br /> -"::�����<<. �_ - Note,ur cure any default therewnder or hereunder.
<br /> �-ri;•..'•:�•��:s �.
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<br /> � '.� ,�� S. F.S�i�. Trustor shali pay to Lender,in such m.anner as L,ender may designate,
<br /> '�rM "�� i �` sufficient sums to enable Lender to pay as thEy becom�due in r�spect to all taxes,asssssments
<br /> - �� . � and other charges against the Property. Further,u}son written demand by Lend�r,Tnxstor shall
<br /> ���,F ' "� • � pay to Lender,in such matuier es Lender may designate,sufficient sums to enable Lender to pay
<br /> �� � ;" �''.' as they become due,one or more of the following: (i)the premiums on the praperty insurance
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<br />.::,;�,�� �. ,� required hercunder,and(ii)the premiums on any mortgage insurance required by Lender.
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