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<br /> ' 9?�- 9.1�0���
<br /> CHRISTIAN A�SOCIATIONte�s°andr eonditionsr as�set Afo th in�such
<br /> interos� and on the
<br /> Construction Line of Cradit Drnw Note and Permahent F�.nanc 8ble�in �
<br /> until �+aid. The principal sum and interest ahall bo pay
<br /> accordance wis�h and upon th=in� al balanceidue hereut�e,rd nd any
<br /> and in any event the entirs p p
<br /> accrued interest upon Esid Promiasory entBe thereundor shall be
<br /> -,� •"��"` Dscember 31, 1999• Al l ent �of in erestn computed annually on the
<br /> - "° applied first to the paym
<br /> unpaid balance, pursuant to un Amortization 3chedule, � capy of ..-
<br /> � which has been provided to each of the parties there�o, and `_:-
<br /> a remainder of each paysnent of each installment to be applied to __
<br /> � principal. All paym�nts due on said Note shall be paid at the ��
<br /> '� office of the BENEFICIARY or as the holder of said securi�y shall __
<br /> :, designate in writinq. s�_.
<br /> �� • ?'� arties hereto that throughout � -
<br /> It is agreed by and between the p
<br /> . the term of this D S shall Trust ana until filinq of Notice of 6�A
<br /> � � Default, the TRUSTOR �
<br /> - A. Retain possession of the property at all times, except as ma� _
<br /> �� be otherwise agreed k�y the parties in writing.
<br /> � �' and its improvQments and all personal
<br /> B. Maintain the aalc ndition and repair.
<br /> - property in g _
<br /> � ., �, pay all general and special taxes and all special assessments _
<br /> - � � of every kind l�vi�d or assessed aqainst or due upon aaid
<br /> • proper�y befv�tl uo�j�•QL°==^f; And to deliver to 9ENEFICIARY
<br /> copies of a'eceipte showing payment of such taxes, or £urnish
<br /> to BENEFICIARY psaof of payment o� payments in lieu of taxes.
<br /> "������ �_. ���• , D. Procure and mainta�n policies of all-ris➢c insurance on said
<br />- ` improvements, in swms and undsrwritten by companie� acceptrable
<br />-�"Y~*��:�: �to the BENEk'ICIARY. in an amount of at least Seven Hunc�red
<br /> _.,� �;_..,.••. ,
<br /> -=�•-•+:�: � Thousand Dollare ($700,000.00) , which policies shall name t e
<br /> S"�'==� gENEFICIARY as additional ins�red, with the loss proceods
<br /> - �''`• ��'' payable to the partie� as their interests may appear
<br /> f�°,'��"`�^' � hereunder. TRUSTORS agres to provide BENEFICIARY with copies
<br /> :�= t:�:
<br /> .�v-��""'-;,,� of such policies or certifica�es of insurance cAuring t e erm
<br /> _�="`=��"-���� of this indebtednecs, which policies of insurance may not be
<br />�"-`��'�'»,;,:�"�`""� canceled by said caxrier without fifteen (15) days written
<br /> �_` ��� notice to BENEFi CIARY.
<br /> =��isra�si�%�s �
<br /> ...���i���
<br /> ��:�.�Ss�.'_.
<br /> _�?��� TRUSmO�tS covenant and agree that a failure to ma e r�ny
<br /> :--�_>��`?� payment, either pxincipal or interest, on the Note secured her�by _
<br /> --"`.v==''.:s;, when due and payable, or a failure to comply with any of �he
<br /> ��=--£�-� covenan�s and agreements herein made shall. cause tho whale sum of
<br /> -'�' money hereby s�scured to become immediately due and collectible at
<br /> "'��s.��-�'��,� � the option of the BENe�u tiRo� be given£nd�the prem ses to bQrsold
<br /> _.T;k��.�;;;��r, ' to cause Notice of D
<br /> , .,._.�;,. , � as provided herein.
<br />-- :,:.,:=' � The partie� mutual lp aqree as �ollows:
<br /> A. At any time and from time to time upon writiten request of _
<br /> BENEFICIARY, payment of fees and presentation of �his Deed of i
<br /> �' Trust and the Note for endors�ment (in case °Without �'
<br /> .� reconveyance, for cancellation and retention),
<br /> affecting the liability of any person for the payment of the :;.
<br /> indeb�adness, TRUSTEE may (a) consent to the making of any ma� _
<br /> _,.y�°��� � or plat of said property; (b) join in qranting any easement or _
<br /> _...._a,...;„r r.hereon; (c) join in any
<br /> ___ _- - - creating any r�o,...,..�____ . -
<br /> � subordinati.on or other agreement� ar�conve �his Deed of Truat =
<br /> '° or the lien or charge thereof; O Y -
<br /> or the li.en or aharge thereof; (d) reconvey, without warranty, _
<br /> all or any part of said property.
<br /> " g. The grant-ee in any Deed of- Reconveyance may be described as _
<br /> � ��the person or persons entitled theretio", and the recitals
<br /> -2-
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