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<br /> 98- ���� i����10
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<br /> � LOAN ID# 0163392818
<br /> Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to
<br /> grant and convey the Property, and that the Property is unencumbered, except for encumbrances of record.
<br /> Borrower covenants that Borrower warrants and will defend generally the title to the Property against all claims
<br /> and demands, subject to encumbrances of record.
<br /> UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br /> 1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest
<br /> indebtedness evidenced by the Note and late charges as provided in the Note.
<br /> 2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Borrower
<br /> shall pay to Lender on the day monthly payments of principal and interest are payable under the Note, until the
<br /> Note is paid in full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments (including
<br /> condominium and planned unit development assessments, if any) which may attain priority over this Deed of
<br /> Trust and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard
<br /> insurance, plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably
<br /> estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable
<br /> estimates thereof. Borrower shall not be obligated to make such payments of Funds to Lender to the extent that
<br /> Borrower makes such payments to the holder of a prior mortgage or deed of trust if such holder is an
<br /> institutional lender.
<br /> If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of
<br /> which are insured or guaranteed by a federal or state agency (including Lender if Lender is such an institution).
<br /> Lender shall apply the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender
<br /> may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said
<br /> assessments and bills, unless Lender pays Bonower interest on the Funds and applicable law permits Lender to
<br /> make such a charge. Borrower and Lender may agree in writing at the time of execution of this Deed of Trust
<br /> that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br /> requires such interest to be paid, Lender shall not be required to pay Bonower any interest or earnings on the
<br /> Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and
<br /> debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as
<br /> additional security for the sums secured by this Deed of Trust.
<br /> If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable
<br /> prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount
<br /> required to pay said t�es, assessments, insurance premiums and ground rents as they fall due, such excess shall
<br /> be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments
<br /> of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments,
<br /> insurance premiums and ground rents as they fall due, Borrower shall pay to Lender any amount necessary to
<br /> make up the deficiency in one or more payments as Lender may require.
<br /> Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Bonower
<br /> any Funds held by Lender. If under pazagraph 17 hereof the Property is sold or the Property is otherwise
<br /> acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its
<br /> acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured
<br /> by this Deed of Trust.
<br /> 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender
<br /> under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to
<br /> Lender by Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to the principal of
<br /> the Note.
<br /> 4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's
<br /> obligations under any mortgage, deed of trust or other security agreement with a lien which has priority over
<br /> this Deed of Trust, including Bonower's covenants to make payments when due. Borrower shall pay or cause
<br /> to be paid all taxes, assessments and other charges, fines and impositions attributable to the Property which may
<br /> attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any.
<br /> 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br /> Property insured against loss by fire, hazards included within the term "extended coverage," and such other
<br /> hazards as Lender may require and in such amounts and for such periods as Lender may require.
<br /> The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender;
<br /> provided, that such approval shall not be unreasonably withheld. All insurance policies and renewais thereof
<br /> shall be in a form acceptable to Lender and shall include a standard mortgage clause in favor of and in a form
<br /> acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, subject to the terms
<br /> of any mortgage, deed of trust or other security agreement with a lien which has priority over this Deed of
<br /> Trust.
<br /> In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
<br /> make proof of loss if not made promptly by Bonower.
<br /> If the Property is abandoned by Bonower, or if Borrower fails to respond to Lender within 30 days from
<br /> the date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance
<br /> benefits, Lender is authorized to collect and apply the insurance proceeds at Lender's option either to restoration
<br /> or repair of the Property or to the sums secured by this Deed of Trust.
<br /> 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit
<br /> Developments. Borrower shall keep the Property in good repair and shall not commit waste or permit
<br /> Initials: ��
<br /> NE2M2G-10041996 Page 2 of 5 �ep Plus, Inc.
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