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<br /> TOGETHER with all the impr�J� or hereafter erected oa the praperty, and all easeme'nts. rigt►ts. � '. ' .
<br /> � , ` appurtenances and rents Isubiect however to the r�ghts an�authorities given hetein to I.ender��u��d applq�ch � . '
<br /> � � reots),all of which shaU be deemed to be and remain a part of the property covered by this Deed of Trust:and a11 of the ;• " ,
<br /> foregoing, together with said praperty (or zhe leasehold estate if this I3eed ot Ttust is on a leasehold) are heteinafter i ` • ,
<br /> • re4erced to as the'Property." E , .
<br /> . � Borrowe:covenants that Borrower is lawiulty seise�of the estate heteby conveped aad hes the riP,ht to grant and convey � . ' . `
<br /> , the Ptoperty. aad that the Property is unencumbered exrept for encumbraaces of rerord Borrowet covenaats that
<br /> Borrower warrants asid will deferid geaerally the titte to the Property agais�st a11 claims and demands, subiact to `
<br /> ' encumbranrxs of record . . -
<br /> ' UNIFpgIUI COVENAIV'TS,Bomower aud Lender coveaant and agr�e as follow� �, .
<br /> -- 1. Payment of Principal and IateresK. Borrowet shall promptly paY when due the principai and interest r, :.. -
<br /> ` ' iadebtedness evidenced bq the Note. including any variatio�s resulting from changes in the conuact rate, aud other E: .
<br />- � charges as provided in the Note. .� �
<br /> " 2. Fnads for Tases aad Insus�ac�. Subje�t to applicable law or wsittea waiver by Len.d�'. Borrower She11 PaY t°
<br /> Leader oa the daq monthlY PaYments of principal a�int�rest are payable under the No+�,�tr�the Note is paid ia full, <_ .
<br /> � a sum (herein "Fuads")eq�al to one-twelfth of the�early tages aad as�men�s(ix�luding eoadominium and planued .. ..
<br /> � unii devela�ment as��rats. if as►p} wtuch may attana prioritp over this IDt�1 of Tn�st, aad gcound reats on the
<br /> � , _ .' : , .
<br /> ` Prapertp, if anq.Plus onc-tw�h of tite yearlq premsum installsnents�or �r3 insuraace, Plus one-twelfth of yearly �..;.:
<br /> � � F pnemium inssallmaats for mortgage irsurance. if aay,atl as rea.�unably estimated iaitiallp aad from tune to time by � --
<br /> h.'� Lea�er an the basis of aS�essments aad�and reasonable estiffiat�theceof. Borrower shalt not be obtigated w make ,:-<..
<br /> �;,;' �'r::�
<br /> - '�, �.; sach papments of Fuada t�Lender to the estent that Borrower rr�akea such payments to thx]ho!der o€a prior martgage ` . _
<br /> ;;��.� ' '-��� ar a3ce+d o#tr�t i�such ho2�r is an institutional lender. '
<br /> �;::.. . :;.! f_.
<br /> :�;�° ; � � g �$B�rra�x os�'s Fuads to Lender. the Funds shall be het�c�an instiwtion th� d�its or accouats of.wiuch are �,;...r
<br /> . , � `,:;`,}
<br />'�. - iasured or�.�by a Federal or stat�agency(includiag Lc��r if Leader is such aa irstctution).I.ender shalt agpb�
<br />,: the Funds as pag said taxes,assesssnents.i:surance premiums a�;:grouad rents.Leader m$g not charge for so holdin� . - --
<br /> - . � and applping the Funds,aualyzing sa'sd account or verifying and compiling said a.�ssneafs a�d bills.ualess Lendes g��s ��'
<br /> � . . Bonv�ver iaterest an the Fuuds and applicable law�its Lender to make s-�h a charge. Bosrower aud Lender�.a.� : '. .;��.,
<br />.,j agree in writing at the time of esecution of this Dee�af Tnrst that intereat on�:Fuads shall be paid�o flarrower.��3 t •: . .�`;:�
<br /> � unlesS such agreement ia made or applicable law reqr�res sttch ints�resi to be paid I.ender s�all not be�uired tu�9 !': ` . ;�zi,;
<br /> �r Borsower any interest or earnin�on the Funds.Leu�r shall give w Borrower.withnut ch�s�an annual ae�coun�crf ,,. '.Kt..=
<br /> == ' � , the Funds showing credits aad debits to the Fuu��d the purpase far�.�each de�:t tz�.ths Funds vras made.'I.l�r: �<.'�}r�`.:.,:;�:`:
<br /> �' " ` Fuads are pledge�as additional security for the�.���cured bp tl�is Deed�f�c�. s�,�,��,�.+
<br /> � � ' If the amount of the Funds he2d by Lendrr, �with tQe future mon�l:s=ostallmenis of Funds payable prior to i�r��%�a;��F ?�f t -
<br /> ` ,� � the due dates of taxes.a�essments.insur��remiums aad g round reats,shsll exceed th�amount required to paY said E r•r�` �5;-,,f
<br />`rl � � `� tases,a�ments, instrrance premiums�:�+d grouad rents as thep fall due.such es� si�Ct be,at Borrower's optiass, � ?�;<
<br /> � : either promptly repaid to Barrower or credited w Horrower on mouthlp instaltmeats of Funds.If the amount vf the �°:.:`t`.<�:
<br /> ' und reats as the fall ' ••
<br /> ;� � . .° ; Funds held by Leader shall not be sufficient to pay taxes.as�ssments.insarance premiums and gra Y . ,��;;;-�+:.
<br /> :i � : ! due.Bortower shall paq to Leader any amount aecessary to maka up the deficiency ia one or mora payments as LEUdet :, :: .=��'?�.
<br /> r. . 'f
<br /> � • may tequire. � :�;.
<br />: .;�: � Upon gaYmes►t ia full of alt sums secured by tl�is Deed of Trus�Lender shall promptlp refimd to Borrower any fitssds ,;.�t.
<br /> '�"i held by Lender. U under garaSraPh 17 hereoi the Property ia sold ot the Property is otherwise aoquired by Lendar, , -
<br />-= - - . Lender shall apply.no later than immediately prior to the sale of the Ptopertq or i�s acquisition by Leader,aay Funds ,.:':;•
<br /> ' - � held bp l.ender at the time of applicatioa as a cr+edit against the aums secured by this Deed of Trust. � ���'��-��
<br /> , ' 3.Applis�tioa ai Payments. Unlesa applicable law psvvides othernise,all payments received by Ler►der imder tha <, � ,.
<br />:•,_; ' ' Note and paragcaPhs 1 and 2 hereaf sha11 be applied by Lendet �ret ia payment of amounts payable ta Len�et bp '':;�
<br /> '� '' _ `� Botrower uader paragcaph 2 hereoi,thea to interest payable on the Note at the appticable c�traet rata.and then dt the :.; ;,: �'
<br /> _ - , priacipal oi the Note. . . ,- �,`..
<br /> - '• • ` 4.Prflor Mortgages atad Deeds o�Trust; Chasges; Lieas. Borrower stralC Perfarm ell of Borrou��c's obli�tians - _ , ��..,_ :'
<br />��'`� • , . . under anq mortgdge.deed oi trust or other security agreeraent cvith a lien�R�.�3i I�s griositY over tAis Dsed of�Tn�st, .
<br /> . '�s<;'� iacluding Borrower's covenants w make paYments svhen due. BorroHer shall pay ar cau�a to be paid all�� �,. �° ,
<br /> . '::p,��..� ass�ments aad other charges.�nes and impasitions atuibutable to the Property which ma�attain a priaritq over tBiE ,;.. .. ..,,.';_t':
<br /> :�eed of Tru..`t,and leasehold paymeats or ground rents,if any. .ri,� �r<<:'
<br /> ; ��, .� • � 5.Hazard Bmsuraace. Borrowet shall kee� the improvements now esiscing or hereafter erected on the Property i�; � y;'�',',
<br />-`:� � � . �s�ured a nst loss by fire. har,ards included withi�the term °estended ooverage," sud such other hazards as Leader ;. ,,,i!;;��;;
<br />� .` ' � ; # may requi�aad in such amouats aad!or such periods as Lender may require. ' ?,{i .'
<br /> ::t;. � '� � Thainsurance carrier providing the insurance shall be chosen by the Bomovler subject to epproval by I.vndet; • 4 �;',�..
<br /> �'f-, •.:ti, � �: psovided,that such approval shall not be unreasona8lq withheld All insurance polieies sud renevrals theneo4 shall be in a �',.;;�� �
<br /> '��';� farm acceptable to Lender and shall iaclude a smndard inortgage clause in tavor o4 and in a torm acceptable w L6aden �,�.�?��'.
<br />_��tt;;:_:; ,. ' �.
<br />=��' �•�" ' I.ender shall have tha right to hold the golicies aad renewals thereof,subject to the terms of aap mortgage.de�d of mut
<br /> ,,, .,{:.�..•
<br /> ��•',��� or other security agre�ment with a lien wftich has prioritY over this Deed ot Tn�st.
<br /> .�'��` In the event oT lar�s.Borrower shall pve prompt notice to the insurance carrier aad Lender. Lsnder may mate proof
<br /> 'v.> • , .
<br /> ":s`�,.',:;.'•� . of loss if not made ptomp2lY b9 Bnmower. �
<br /> :',;.tiia,�'.�;
<br />` `•�``�:.-�� � Ualess Leader and Borm�rer ott►ernise agree in writin�,iasurance proceeds shall be applied to reswration ar repair of
<br /> ',.:f. ' �
<br /> �•� ' the Pcoperty damaged,if the t�estotation ot repair is ecoaomicallq feasible and Lender's secutity is noi le�ned.If the
<br />�'' '"� � r�storation or repair ia not economicalZy feasible or Lender's sscurity would ba lesseaed����en�e P���1 be � . '
<br />'°�',�'• � • applied w the sums secured bq this Security lnstrument, ahether ot not then due. with any exce�paid to Botroaer.If • .
<br />'';:,':: � Burnower abandons t�e Property.or does not answer�vithin 30 days a notice lrom Lender that the insurance carrier has . �
<br /> offered to�ttle a claim. then Lender may collect the insureace proceeds. Lender maY use the praceeds to tepair or . .
<br /> ° � � reswte the Pmperty or to pay sums secured by this Security Instrnment,whether or not then due.The 3Q'day period�vill �
<br />_- � � ; beg'm when the aotice is given. ' .
<br /> - • � 1{the Property is abandoned by Borrocver.or if Borronrer fails to respond to Lender within 30 days from the date '. .
<br />-�' � notice is mailod by Leader to Borrower that the insuranoe carrier offers to�ttle a cisim [or insurance benefits.lxnder �•
<br /> , is suthorized to collect and applp the insurance prooeecLs et Lender's option eitAer to restoration or repair of the ;
<br /> � Property or to tt►e sums secured by this Daed of Tnut. ` ',
<br /> � -� 3 oa.,a��ao o,Tw..� ow,���� i a.� �o�� om000�oo��aonoaao�� �o�� ;
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