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<br /> � UIVIFOANO COV�ND��ITS.Elorrowor end l.ender covenant and ayr�a r�n follaws: 97 r o J ' �a'�
<br /> � �, Pa�ment��W��I��r�IlaaO anr�In4oroot. I3orrawer shall promptly�ny vil►en due the p�lncipal and Interest indebtedness
<br /> evldoncod by thu Pl�.�i�n�r�d Ir�tr�clerarfloa nn pr�vldod In tho Noto.
<br /> ' 2. Funds tusTi�Y3z er��ll�en�Qence.5ut>Jc�ct to AppllcRble law or a wrlt4c�n walvor by Londer,�orrowor shali pay to Lendor
<br /> � on the day monthh��r�ym:�nto ot princlppl an<1 Intoroat are p�yable undor tlyc�P1�ta,until the Note Is pald In tull,a sum(heroin
<br /> ' "Funds")oqual to�a�+r��t�nrvlfth of the yparly tax�o nnd�esessmenta(incluc�in�;condominlum c►nd plan�►od uN us o et wel�th ��
<br /> ' ssseasmente,if eroyZ whirh mr�y att�ln prlority ovor tlils(3eed of nust,[�nd grrn�nd rents on t�o P�operty,if any,p ,
<br /> of yeerly premlu�a fi�r�tallixs�nto for hazard Int�uranco,plus one•tweltth af yot��ly�zremium Installments tor mortgage insurence,
<br /> � � if any,all ss reau4��r�tsly s:�ilrr��tc;�Initially and trom timo to tlmo by�.onderon the hc�sls of essesgments and bllls And reasonable .
<br /> � estimates there4f,Et��nb�aor shmll not ba abllgatod to mako such paymento of�unds to Lender to the extent that B�rrower makes ,is.
<br /> auch�aymentc�to tE�r�hotd�r of a prlor mortgago or doAd of trust if auch I��Idr�r Is an Institutlonal lendec •
<br /> " „� If Bcrr�wor p�;ra Fund�i to Londer,tho Funcia ehall be hc�ld In an Instlt�r4lon 2he deposits or Accounts of which are insured ,
<br /> or guarantoad by a��d�ral or state agancy(Including Lender If Lendor la auci�an Institution).Lender shall apply the Funds
<br /> to pay sAld t�.cen,aas�asmont3,Insuranre premlumo and grounci rento.I_ondr�r may not cherge tor so holding and applying .
<br /> � � the Funds,a+��nh�alnp sald account orvorifylnp and compiiin9 said assesamonlc�nd bills,unles9 Lender paye Borrower interest
<br /> • oR tf��F¢n.d�3 end�n(�Ilcabto lAw permilfl l.ander io�ii�ihe su:.h a charga.Earro�rdar and Lender may agree in writing at thetlme ,;,s,.-�:
<br /> �.�=,��_.,,.
<br /> oi er.er.�;iinn of tiela Deod of Trust that intaroat on thc��unds shall be pald to 13orr�wer,and unl2ss such agreert�ant is made or �..
<br /> : apFlfcs.�i�I�v�r¢qidlrms s�ech interesl to bt�peid,�ondor shalt not be requirod fn Ray Elorrower any interest or earnings on the •,-;°�-°
<br /> Funds.Le�Td�tr sMall givo to Borrower,wiihout cherge, an annual accounting af the Funds showing credits and debits to the ;.'�,�'"--
<br /> � Funas arrl tE�r�p�erpo3e for which oach dabit to the Funde was made.Tho Fund�are pledged as additional security tor the sums _;_=�_
<br /> secltrr�Yay f6�t�3 Dovd o�Tru�t. �"•<<.+�=•
<br /> ' IG ihr�a.�nr��nt of tho Fund�hetd by l.andor,logether wfth the futurp monN�ly fnsisllmente of Fi�nds payable prior to the due -_
<br /> @t�tas of tr�;caa,a�ser�srr�onts, insuranae premiuma and ground �ent�,shall oxr,rasd tho amwnt required to pay saEd texes, � __
<br /> �gQr�rtt�rnt�,inrsur�nca premiurr�s and c�round ronts as thoy tall dua,such oxco3a shall be,at Borrowsr's option,either promptly . ;:�,_
<br /> , � rm�atd to 6urrowor or credited to Borro�ver on monthly installmentaof�undo.Ifi YI1e amount of the Funds held by Lendersh2�t0 , � _
<br /> ^ nct b�sufttr,i�Rt to payta�aces,Assessmt+nto,insurance promlums and grourtd reni�as they fall due,Bonower shall pay to Lender .3 r..�.Y,�-
<br /> � , ex�y�r�rtowrot nccessary to mc�ae up tha deHctency In one or more paymonts a3 t.endor may req►alre• �.:;,�.._„��'}�:
<br /> Ur,oen paymont in full oT all sums securod by thls Deed of Trust,Lendo�olTall�aromptly refund to 8orrower any Funds held ;��ti,,;,;;..:f._—�
<br /> � � `�� t�y L.pr�dAr.If t�nddr puragraph 17 hereol the Property Is sold orthe Properly is oi�l�r,i�nise acqulred by Lender,Lender shall appfy, `'� ��
<br /> nc+I�tor tf�t�n imrr��diatoly prior to the sale�f the Property or Its acqufsldon by I.�nder,any Funds held by Lender at the tims ,,,,� --
<br /> �� � cf ap�IlGatEon es a credit agafnst the sumo secured by this Deed ot Trust. ����`
<br /> � 3. O+ptallr,atRvn of Payaeents.Unleas appifcable ta�v provides otherwi�o,all��yments received by Lender under the Note r,,.;���=
<br /> —__-- �nd ppr��r,a,(�i',a i anti G i�ni6vi 3i�dii t36 8�ipli&d`3y L:.:M:.°f:ss;in�a�mst�t oi n_!n�unts oayable to Lender by��rsower under r;��:.�.—
<br /> � i,:���::
<br /> Far�gra.pM 2 horeaf,thon to inierest payable on the Nato,and then to tho principal of the Note. ;�;,,�—
<br /> � �� f:I�:� 4. Prlo�Nlortgage�ar�d Deeds of Thue3;Chargea;Ltena.Borrov�,�sr sNall pertorm RI I of Bor�ower's obligations under��y
<br /> ���r
<br />,.,;;;" • '�;<:,.' ����t��ig�,d4ed ot irust or other securiry a�roament with s Ilen whlch C�as�arlorify over this Doed of Trust,including Borrower's ���
<br /> .: .'i-;'�i�;f!.. ,st`;
<br /> cou¢n�r�.ntt;to imalce payments v�7�en dua.Borrower shail pay or cause 4o be paid�If taxes,assessments and other charges,fines <,;.
<br />�',�`�;''` ��'�� �cd irtr�,oufifaros attributable to tha Propflrty whlch may attafn a prlorlty over thl�17ec:d af Trust,and leasehold payments orground ��
<br /> :;;.,..
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<br /> ;' .,, rmttt¢�if arny
<br /> 5. H+�.Tacd Inz�araoece.Borrower shall{coop the Improvementa now oxl�ttn�vr herefafter erocted on the Property ins�nro�
<br /> against Ioss by Pir�e,hrizards included wlthin the term "extended covorago",r�iv�such other hazards as Lender may recqwiro
<br /> artcE IR s�cla arr�n�ai�ic;end tor su�h perlods a�Lender may requfre.
<br /> ' Th�f��a�eance carrior provlding tho Insurance shall by chosen by Borrowor subject to approval by Lender;provided,that _ _
<br /> suc.h,e{��rr�ovql shall not be unreasonabfy wlthhetd.All Insurance policle,and ranewals thereoi shall bo In a faTm acceptabls ��
<br /> ��' • to L��:c��tr a��rJ s7��11 Includo a standard morigage clause In favor of and In a farin acceptable to Lender.Lender shaR hava the
<br /> 1�?i•',�.: _
<br /> �.�1�, rtyht 4o hold tfto pollcles and renowals theroof,subJoat to the terms of any moiKg�=_ge,deed ot trust or other sacurity agreorar�ent —
<br />_:; �.�• wlth a Il�n whlch hao prlority 0vor thie Qoed of TFust. �___
<br /> � In thr event of loas,Borrowar shall glvo prompt notico to the Insurenco cai��l�v and Lender.Lender may make proot oi loss �
<br /> .... �>�-:
<br />��^`��' � , if not mnde promptly by 8orrower. !�`�
<br /> :'�' � ; � If the F'roparty Is abandoned by E3orrower,or If Borrower fafls to respond tn�ender wlthin 30�days from the date notfce ts �„
<br /> `�' ena{led by LendAr to Borrower that tho Insurance carrler oNers to so4tlo a claiEm for insu�ance bansfit�,Lender Is authorizeci 4.�_==
<br /> '�'�'. .:�_..•� to collect ariA apply the Insurance proceecis at Londer's optian eftherto ros2aratiort ar repalr otthe Property orto the sums sec�srsd
<br />','""-: - by this Deed ot 7f�ust. -
<br /> i+;;. „y �°.;,�;,. 6. Pa�eadrvattun and Malntsnae�oo of Property;Leaseholda;Cortdo�sr��MhaTns;Plannad Unit Developments.Borrower - -
<br /> - _� .;��,s;;;;,; shall kaep tne Pra(x3rty fn good repalr and shall not commlt waste or permlt hnpairment or deterloratlon of the Property end __
<br /> �.;���" shali corst{�ly wlth tha provislons ot any loase (f this Deed of Trust la on a lo�sehold. If tt►is Desd of TFust Is on a uni3 in$ �,;y___-
<br /> cor�ddmirol�cm or a plannod uni4 devolopment,Borrower shall pedorm all of I�urrower's obligations under the declaratlon or �;�;_,:
<br /> �, _
<br /> cov�►*oattm cmatl��p or governing the condominlum or planned unit develoNmonY,tf�e bylaws and regulatfons of the condominium ���1,,�__
<br /> '� or pinrr�ad un(t dovolopm�nt,and conotituent docurnents. �""r"'-
<br /> ` 7. P�a4aection of Lentier's Securlty.If Borrower fafls to perlorrn tlio covaizanta and agreements contalned in thla Deed � �'�=���"
<br /> w.t.:
<br /> of Thuat,or If any 3ction or proceeding la commenced which matorislly aYroct;s Lender's Intere�t in the Property,then Lor�der, .
<br /> at L,�nder'3 optlan,upon not(co to Borrowor,may►nake such appear�ti�rss,dlsburso such sums,inoluding reasonable�tloru�a�' . � . `
<br /> fees,ard takQ such actton as is nocoIIeory to protect Londer's intera�t.!f Lond�er r�qulred mortgage Insurance as a condition
<br /> of r��lct�tip t6��loaro secured bythls Deed of'iYust,Borrowor shall pay the promiwns vsqulredto maintafn such insurance In efiect ��
<br /> u�tNl sacln 6��co aa tho requfremont for such fnsurance terminates in a�cordanco with Borrov��er's and Lender's wrltten agregment <�'`'
<br /> ;...,; ..
<br /> � ar a�plir,el�l��I�v�. � � ��
<br /> -- - - - - --l n.....,.»..�,,..ro.�i�t���rnu�hv 1 andar nurnuant tn this naraaretDS'17. wit11 l�ltefest th6�e0n,at the Note rate,shall be�omv ` �
<br />-- --- - � ..�.y...,.......«.......��..----� --..__. �----- . . .
<br /> . � a�idltlanal inciebtcdnc:�:�of Borrotiver sQCUred by thls Deed of Trust.Unless 13orinwer and Lender agree to other terms ot payment, �• „
<br /> � such a►nou�sta�iac�ll bo payablo upon notice from Londor to Borrower roquoeting payment thereof.Nothinc��antained in this ;;
<br /> . � paragraRh�7 sl��ll r¢qialre Londar to incur any exponse or take an�r action liereunder.
<br /> � 8. lrtmE�etctdor�.Lendor may maF;e or cause to be made reasonablo ontrles upon end Inspections ot the Property,pro•�lded
<br /> that Lend�r�lau;lt glvo Borrowor notico prior to any such inspectlon spoclfyt�zg reasonable cause therefor related to Lo�sJer's
<br /> • I Interest tro th�Pivporty. �
<br /> 9. Corsdertt�tatl��.7ho proceeds of any eward or claim for demagoc�.dlrect ar consequvntial,ln connection with any
<br /> condemnatio�a or ot�er talcl��g of the Propsrty,or part thereof,or lor convoynnce In lieu of candemnatfon,are hereby assigned
<br /> • and shall t�y}3i��to Lendor,subJoct to the terms of any mortgage,dood of 4�ust or othe�security agreement with a lien which
<br /> has prtoriry avvr th(u�eod of 1Puat.
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