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<br /> Horrower�bi�lEfiifs�Ot onow�is lawfully seized of the estatc hereby convcycd and has thc right to srant nn� �
<br /> , convey the Praperty,and that the Property is unenswnbered,except for rncumbrances of ceoord. Eiorrower covenants diat �
<br /> Borrower wamants and will dcfend gcncrally the tide to thc Propeity against all claims and demands, su5jat to
<br /> cncumbranccs of rcoord.
<br /> � � UMFORM COVENANTS. Borrower ead Lender covenant and agrce as follows: _ s�
<br /> � '� �.�y�.��mg Q�v������1 ��+ �e�.rat, p�rm�vcr shaU Qr�mptiy pay when duc thc principal ond intcrest
<br /> . indebtedness evidenced by the Note and late chnxges and other charges as pmvidal in the Note.
<br /> � �� 2. Payment ot Ta:es. Subject to applicable Isw or a tivrinen waiver by Lender,Horro�vcr shall pay tuxes und , .
<br /> assessments(including wndoininium and planned unit devclopmcnt assessments,if any)which rnay nttain pdoriry over this
<br /> Dced of Trast,and ground rents on the Property,if any. _
<br /> 3. Applicadan ot Poymcnte. Unless applicable law provides othenvise, all paymcnts rcccived by Lender undee ;.u�-=��._��
<br /> the Note and paragraphs 1 and 2 heseof shall be applied by Leader Srst in payment of amounts�ayable to I.cnder by '��:,�
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<br /> Borrowcr under paragaph Z hereqf,then to interest payablc on the Nolc,and then to the principal of thc Notc. �{;-;=�=
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<br /> ' • and Dceds of Truat•Ch ; Liens. Borrowcr shall petfarm all of Horrowe�'s obtt�atioas ��"1
<br /> __ __ 4. lrl�rM�rt���M � �
<br /> � � � under any mortgage, dee�i of frust or oWer secunty agreememt w:w�iicn waici►nas pnor�ty over tttis ue�d c�irusti �,�._.
<br /> � includiug Borrower's oovenants to make payments when due. Bofi�wzr shall pay ar cause to!�paid, prior to�+slin�ut�sy, =:_
<br /> �, � al1 taxr,s,assessmeats and other charges,fines and impositions ami6utable to the Properiy wluch u�ay attain a priozity wer �^=,�
<br /> this Deed of Tnut,and leasehoId payments or ground rents,if any. ��-,
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<br /> �' � 5. �azard Insurance. Horrower s�all keep the improvemeuts aow existing or hereafter erected on We Property -
<br /> � ` insured a0a�loss by fire,hazards includac7 within the teRn"exten�d ooverage",and such other hazards as I.e�der may �'`�°-_°h'-`�
<br /> � . ��'��I require and in such amour+ts and for such pe�iads as Lender may require. ��=--r
<br /> '• ., 'The insurance carrier providing the insvrance sl�all be chosea by Bormaver svbject to approval by Lender, __
<br /> � � � provided,that such approval st�aU not ba unmasonably w 1'd h he l d All iruurance policaes and renewals thereof shall lx in a =---
<br /> l form acoeptable to L,ender and shall jnclvde a standard mortgage clause in favor of and ia a form aooepta6le to Leader.
<br /> • . ���;� Lender shall have the rlght to hold the policies and renewals 4heroof,subject to the terms of any mortgage,deed of Wst or
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<br /> ?� other security agreement with a uen whicu nps prioriiy uvci tYus B�3 0:Trus't-
<br /> �k In the event of loss,Bo�rowar shall give pmmpi notice to ihe insurance carrier and Lender. L.sntler c��y taalce
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<br /> , proof of loss if not made prompdy by Eorrower.
<br /> , If We Properry is abandoncd by Borrower,or if H�rrowcr fails to respond to I.ender within 30 days froin 8�e date
<br /> � s nouce is mailed by Lcnder to Borrower thas ehe insurance carrier offers to setUo a claun for insurance benefits,Lender is
<br />- authorized to collect and apply the insurance prooeed.s at Lender's apuon either ta restaration or repair of the Property or to �
<br /> --. . the sums secural by this Deed of Trust.
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<br /> _ . • < 6. Preeervation and Ms�iintnn�nce of Property; Leaseholda; Condominiwma; Piwe�e�1 Unit
<br /> - Developments Borrotivcr shall kcep We Property in good c�epair and ehall not commit waste or permit impairn�eat or
<br />�:�' �� ! d�erloration of the Property and sI�all oomply�vith the provisions of any lease if this Deed of Trvst is on a leaschold. If this
<br /> 'i°'�' �� '' Aeec!of Trust is on a unit in a oondominium or a planned unit development, Eorrower shall perf'qrm all of Burrower's
<br />�':-�• a�, •�..-,� � obligadons under the decla:�tion or covenants crearing or goveming t�e oondominium or planned unit developmens,the by-
<br /> � ��� � lawe and ngulations of the condominium or pinnnal unit devcloptneut, and oonstituent documents.
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<br /> � . �- 7. Protection ot Y.ender's Security. If Borrower faits to�crForm the covenants and agrt�ments oontained in
<br /> � -- � this Deed of Tcust,or if any action or pmceeding is oommenced wluch materially affocts Lender's inte�st in the Paopeiiy, __
<br /> ^�•�r, , then I.ender, at I.ende�s option, upon notice to Borrower, may ynalcs auch appear�nces,tlisburse such sums, including ___
<br />—��,���u,:_.'� reasonable attoraeys'fees, and take such action as is neassuy to protect I.ender's interesc If Lender r�quired moitgage
<br />�_:�-�j�• �- insurance is a oondirion of waking the loan secured by ihis Dced of Tn�st,Bornower shall pay the premiums re9viced to
<br /> , �""��� ,,� � maintain su¢h insuronce in effect until such Wne as We reqvirement�'or such insurance is terndnaied in accordana with _
<br /> __ ~ '�"�� • • � Botrower's and Lendcr's written agreement or appfipblx]mv. -�
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<br /> Any amounts disbursed by Lender pursvant to t�is paragn�sh 7, with interest thercon, at the Note rate,shall
<br /> .;a;�;� � beoome additional iadcbtedness of Boao�ver se.cursd by lhis Aeed of Trost. Unless Borrower and T.ender agres to offier �..t`-�
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<br /> � • �'',. terms of paymeat, such amounis sha11 be payable upon natice from Ler•der to Borrower requesW►g payment th�reof. _
<br />�. . �'`.-a�;�� Nottting oontained in this paragraph 7 shall require Lender to incmz an�J expense or takc azey ac:tion hereunder. ��__
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<br /> : � 8. In9pectton. L.ender may make or cause to be made *easonable entrics upan and inspe�ction�of the Property, ;,:7,�,
<br /> pr.rvided tbae Lender sball give Borrower notice prior to tury such inspection sEx�ifying ceasonable cause thesefor related to '`�f;•"-_
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<br /> + I.ender'a lnt.mst in ths Propecty. ' �`•�,'.�=
<br /> � , �''''� 9. Cuu�d�at��t�oa. Thc pmxcds of anp a�rard or claim for damages,�irect or consequential, in oonnection with " ;�
<br /> `��- � any oondemnation or othtr taking of the Property,or part the�eo�or for conveyancc in lieu of condemnation,are hereby •
<br /> ° assigned and shall be paid to Lender.subject to the rights of the holder of any mortgage,deed of trust or other security �
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<br /> ggrecment with a lien�vhich has prionty ovcr tuis uced oi i rua. --- -
<br /> 10. Borra�ver Not Rcicased; Forbearincc By 1.end�r Not Q Waiver. Extension of the timc for paymcnt or
<br /> modification of amortization of the sums seciued by this Deed of Tcust p�anted by Lender to any svocessor in interest of
<br /> Borrower shall not operate to relcasc, or othenvise affect in any manner, the liability of the original Borrow�er vnd
<br /> ° Borrower's suocessors in interest. L.ender shall not be required to oomrnenee proceedings against such s�necessor or refuse to
<br /> ' extcnd time for paymcnt or othervvise modify arteortization of the sun�s sccured by this Decd of Trust by rcason of any
<br /> demnnd made by the original Bomoti-rer and Florrower's sucoessors in inte�+est. Any forbcarance by Lcnder in exercising any
<br /> aight or remedy licccunder,or othenvise afforJed by applicable law,stRall not be a�vaiver of or proclude the exercise of any
<br /> such right or remedy.
<br /> -' � Form#739 NE (l0/96) Pagc 2 of S
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