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<br /> � 100909 05/14/1997 �'. : �.��,�.°�, �:
<br /> JGB M RR83 � ' - �
<br /> Utv1FORM Cov8NaN7s. $omuwer and Lender cavenant sud agree as follows: ��'a' ��o�� • L
<br /> ' l. F�e�t of �psl aud Iffier�t. Born►wer shall pnompdy pay whea due the p�inctPal aad .
<br /> in�gbt�tn�ec eVideIIced by t$t NoiC sn�lYtte cbar�es a9 provlded[n the Note. � ,
<br /> t.Ft�dg for Taaes aad I�eame. Subject w applirebie law or a writtea waiver by i.enster.Bo�wer shaq paY to ; .
<br /> . l�eader oa the day mantWY PaYmeu�of P�PaI end iate�st are Qayabte under the Nou.umil the Note is paId in full.a ,
<br /> . sunn(herein•Fwcds')equal to one-cwelf�of the yearly tases and ass�ats(tastuding con+dominium and plaffied u�c ,
<br /> �evett�pme��. u m�i��+�i��...����•�'i`p�..s'r��q,wu!omund rents on tLe PmD�Y•if `
<br /> any�plus aae-twetfth of yea�dy piemivai instellmcnts fot 6�ard iasnranoe.Ptos oaetweitth of yearly pt�ium installnLents � ,
<br /> for rmartg�ge insurence. tf suy. all es teasonabiy estimate� tnitialty and fmm dme to dms by I.cnQer oa t�e basis of i � �
<br /> � .. .. a�naeuts aad 6llis and reasoaable esamates thereof. BOto the hos ld o prtor mort�g�age or�doed of m�st��such hnlder � .
<br /> ' ' oo LeQder to the eatem that Bouower makes such payments ;. ' _
<br /> is an insdduiional la�der. � ' � .
<br /> ' If Bomuwer pays Funsis to Lender. t8e Funds shall be beld ia an instiduioa the deposits or acoouws of wLich are � . ..
<br /> �nrod or guatanreed hj►a Fedeml or state sgency(incladin8 Lender if I.ender is sach an instimdoa).IRndet sha11 aPP1Y ' � .
<br /> � the P�ds to�y sa�d taxes.a�ts. iasu�ance P���°nnd rents.Lender may n�t cbarge for sfl holding and � . .�',:;,�:,.
<br /> . � ' applyinig the Funds. an�ly�ng ssid aa�unt or veufying and comp�illing said a�nents antl bills. anlecs I.ender PaYs .;:;. - r;.�,;
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<br /> . � Bomuwer inte�est on t�Finads aw1 applic�ble law pemoits Ixnder to make such a char8e.Boimwer aud I,ender may agroe ..r:c:,,.: , ;y;;.':
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<br /> in wdting at the time of eaecation of this Deed of Trust thac interest oa the Funds sball be paid w Bosmwer.and untess � , ��f},,
<br />- �.i sach a�eemem is made or applic�tble law requires such intecest to be paid,Lender s1�aU not�e required� of the F�mds . , �', �.S 2�
<br /> • � a�►in�t or earnings on t�e Faeds. Leac4er sball give to�oaawer.withuat c6arge.an aa�amal accounting :",'-�.':°". -
<br /> 'The Fuads ar�e �;�.. "`-J���;
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<br /> .: sLaai�c�dits aud debits to t�e Fams4s aiu:d t�e pu�pose for�dhish each dsbit to the Fm�i's was made. ��'�:��t,':'::� ;
<br /> ' Plect�as addi.fioaal�¢Y 6�a�e s�s secm¢e�Gsy ct►is Deed of Tmst. � •�
<br /> . `; i„�►�r�,�c���gayable pri�tn ..
<br /> � 1�ti�a�ans crff ttt��m�s�d iay Leus��,emgetl�er�th tbe� shall exceed d�a��$��Pa�� � ' F.° ;
<br /> t�d��of tdues,�.�� �� I• ';e;, .
<br /> f � aaci gRmn�d n�ts as a�`c..�y fall due, such exce�s�be.at Bc3nower's a�mQe. � , ,,;;;. 'C`'r.
<br /> .. •. � ta�,.�, F� � d ., ,�'�.�,r...,. ::
<br /> �I��P�I►�P�m Bo:roa�cr��it�t��aarawer�a�sonWlq iastallme�of Fm,s� If the amotmi of thr�s ��t-;-;'���-
<br /> � . . :� �yy to e�es,asces�ents. P 4 t; F'�7;�,`��`;,� ,-.
<br /> betd Lender sbaU not 6e suffcaent PaY inSaranse temiumc aaw�g�oand sents as t�s9 fai�ll dne, . �% .-
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<br />. . Baaower sl�sll pay to I�euder siry umnunt neces�a9 to make op the deficiency in one or moie pay�s as Leader maY . .:::: ,;
<br /> . . . � ia fn11 of all smns seciue�by Wis Deed of�'aa�st,Lender shall pm�t9�a��'und t�o�sower anyr��xls �. �-;:Sf s��y '•�x
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<br /> � . ��g Tuender.If aader Pa�sgiaPh ly heseof the Propert3►is s�d or the Propetty is ot�e acquised bS►L�nder.i�r � ,.�'a,,��,:�<<:
<br />- : `, �raCi�LY.no larer than immediatelY Puor w the sale of thz Faopei¢9 aa cas acqu�SIdon by Lender.anY F�mda bcld bY • ... �F.,
<br /> r� . , ! b�at the time of applic�don as a cmdit aga�ast the sums sec�red by tt�as�ed of Tcas� , ,.s`;` ;, '�{
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<br /> .,� �„lg�,a�pilcaliaa oY P�ym�tts. Untess applicable law pmvtdes otheiwise.aU payments received bY L�ender ander the ':-t�3j�1�q�tf�f��;
<br /> Not+e r�E y�atagtapUs 1 aad 2 hereof shaU be applted bY I.end��rst in payment of amonnts paFab2e w Lender by Bosmwer � '4
<br /> ; '� umdoc paragtaph 2 6ereof.tLen w interest payable on the Note.and then to tLe pdndpaL of the Note. ' .� ��,,,�"�,>#���'
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<br /> . . 4.Ftioe 1Vlortg�gcs an�Dax�oY T�k C�S�i � wi'tb a�8ea afiieh�oiity�over this Deed o�7Yast. �;-:.r-�s
<br /> - uuder aa9 msrtgage. deed of uust or other s�io9 agreeme� P . _.. ,,
<br /> • iaciudiag Bormwefs caveuarus oo malae paqmeats when due.Bomower sba11 pay or c�use to 6e pa�d all ta�s.ass�mears _ ._:._._ �f�:.;_�:
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<br /> . aad othes c�La�Bes.fines aaa impositioas aar�butable to the Propeity ahich may attaip a prfarity over this Deed of Ttust. • -
<br /> > � anfl leaseaold paymients or gmuud rents.if any. •;: :,',.
<br /> � �.Heffir�d Ins�n�nce. Borrower shall �eeP the imPmvements now exisdng or hereaRer ecected on tL�P�+upetty • :,,j, �:�
<br /> insu:�ed a�siust lass by fue.hazazds included wIthin the tetm'extended coveiage'.and sach orber La�ids a9 Lender maY � � � _
<br /> . �eqnire and la soch amannts aud for sucb periaBs as I.ender maY�• � . . .
<br /> • � ahe insaasace canier provldtng the insatance shell be choseu by Borrower subjeci to approval by I�euder,psavided.
<br /> _ . • t6a¢e�appiovel sLall not be u�+easflnably vulthheld. All ia4urancx polic�es and renewals theceof sball be iu a fo:m - -
<br /> ..; - aoa�6le w I.euder aad stiall inct�de a stendard mnrtgage claase in favor of aad in a fa:m acceptable w I�nder. I�eader .
<br /> ,, ' s�a]'91'tavave the rigLt to ho2d ths pollctes and renewals thereo�subject w the teems of any martgage.deed of t:nst or other � .. `•
<br /> ,�} . � f �,F ag�ment wlth a lien wbich Las pdo�ty over this Deed of Tmst.
<br /> ;, " .;;>',;�: ., 15�die event of loss.Borrawer sball give promPt nndce o��he insurance c�rder and I.ender.Lender may make pmnf , -
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<br /> .;� a�G�i�aot m3de QmmptiY bry Bosmwet. ., .
<br />:;�,�:� .�,, . T.�rthe 1'aaPertY is abaadoned b7►Hotrawer.o:if Bamower fails w nespon�to Lendet arlthin 30 days ftom tLe date . .-.
<br /> , . : r�ui�e is maiied by Leader to Boirower that tiae ia�nanc:e c�er offe�s to seule a claim for insa�ance beaeflta.I.euder Is � -
<br /> ���i �;;,:,, �; �w coltect and apply the insurance pmceeds at I.ender's op@on either m restoration or iepair of the Pcoperty or . .
<br /> � �' � � ta t!!u�s�se�ed bY tL9s Deed�f Tn�st. � ..
<br /> ��:. :t"�:'`�. tb� �i+esprvatlon and 1V�anoe ot Ftoperiy; IIr�otdsi CondomUW� }FHaaaed IInif Deve2opn�ts.
<br /> ` � . � ', Bdn�ssc+er sh�dU keep the Pmgereg isa good rega�aa�sha1D aat cammit wati7e or pem�it nmpai�meae ar deteiiasation of the ���'.
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<br /> :..,` paagea�q and st�a1D cam�ly vc�dc Q�;2 provlsl�af as�y lease if this De2d of iTaast is on a leasehold.If this Deed of T:nst is � -
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<br /> � ot�a maia in a condamimium as a�f�sed a�t develapmen�Bo:rower shaU gerform aU of Bomower•s obHgadon4 under the . .:...
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<br /> �'���` decfasrari�n or oovenanta�ac�+emin�the von4omacu�or platmed uni�developmenc.the by-�ws and regWatioms . :,`.:�,
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<br />:'',...� ,... . of the mndominin�or planued w¢t a4evelapment.and consac�t documenrs. .;ir:,, �
<br /> 7. Pe+ofedton of I�d�'s Se�tty. If Bosower feils to perform the arvenants and ag�menta canmiaed in W1S
<br /> Deed of T�nst.or if auy acdon or proseoding is cammeaced wh{sL maze�a l D y a ffecta L e a d c r's i r u e r e�i n t h e P r o p e rt y,t h c u
<br /> I.eader. at I.ender's apdon. upan noflce to Bomnwer. may make sucb, a�peaiaaces. dtsb�use such svmv. including ,
<br /> reasonable artomeYs�fees.and mge such acflon as is nece�.sa�3+w pmsect I.ender's iaterest. If Lender required mortga,ge .
<br /> insaranoo as a condidon of m$luag the loan secured by thcs IIeed of T�ust.Bor�+avrer sLaU pay the premiumq requlred to , .. :,�,•, .
<br /> . : maintain such insuianoe in e�ect until snch dme as the ia�ranrement faT sucb insurance temiinates in accardance witL , .� �;,',
<br /> . � guimwer's aIId I.e�der's wtltten ag�ement a�applicable law. , .
<br /> � Any ammmts disbncsed by Lendes pw�m this paragraph 9.wic�inteiest thereon.at the Note rate.shall beoome
<br /> � a�1ir �3fl��St�of Bormwec secured by tt�is Dee�l of Tn�st. Unless Boaoaer and Lender agroe W othec teaps of
<br /> ' � paymen�t. snsb am�ounts s1�ll be p�ya6le upm►nudce from Lender to Bormwer requesting DaYment thsneof. TaTarhing ' ,
<br /> � ca�intd ln tLis para�aph 7 sball reguire L�ler to incur a�r expense or take any acdon hereunder.
<br /> � a. Insp�tion. Lender may make or caus$ to be made masnnable enuies upon and iaspecdoa� of the Pmperty.
<br /> ` � � ; pmvided tbat Lender stiall pve Bormwer naticc prlor to any such inspecdun specifying reasonable rause therefar relatod to `
<br /> � � Leader's intezest in the Ptoperty. � . .
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<br /> �.''"t ..' i Nehiaela 268763 11/96 Otig4ldt►1(RCCOtEIOd) COpX(BrOIICh) COpy ICUOtOIIer) Page 2 of 5 .
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