|
i�. . .
<br /> � . �
<br /> • 1�LODY A BDM{�ARDI�R MYRTLS A SCSQLZ 100917 OS/19/1997 • � •
<br /> UMFORM COVENatvTS. Boaower and Lender covenant and agzee as fallows: ��� �� • � �
<br /> 1. F�,pm�t o4 PNnci�al � Inde�t. Bomower sbafl pmmpdy pag arhen aue psintipal and iatecesc � �
<br /> indebt�evideuoed Dy tne Note and late cLa�ges as pmvid=d in the Note. �
<br /> 2.F�ads Yor T�and Ius�afle. S�bfest w applicabis taav or a wtitten waivet by Lcuder.Bomawer sba�l paq to ' , . .
<br /> ' ' I�a�er on the day monthty gaymeuts of p�incigal and ime�esc are payabte imd�the Nore.uatil the Note is pai�in fnll.a � . .
<br /> sunm(p►eecein•Funds')equal to one-twelRh of t�e yeaziy taxes aad a�ents tinstuding coadominium aud plarmed unit
<br /> development�sse�+�+.�.�._..� if suy)wfiich�ay atrain priority wer this Deed of Tnut.and ground rents oa the Pmpe�ty.if � •.
<br /> � airy.QIns oaE-rwelfth of yearly p�mlum ias�llmen�for ha�ni ias�uar.ce.pIus ono-tw�tfth of yeariy pmmiom instellme�s . .
<br /> � ` �. for mnrtg,age i�uance. if at►y. all ag�asonably es�maxd initiaily aad fmm ame to am�by L+ender oa tLe basis of " .
<br /> � . a�rs aad biUs and�easonahle�mates tttereof. Bonowe�shall aot be oDligatod w make sacL paymeuts of Fautls
<br /> , to L.ender to dte extent tLat Bmrower malces such paymeuts to the holder of a prior mflrtgage or deed of aust if such hotder � . �
<br /> - —� , is an inst�riona!teader. r -
<br /> 1f Bwmwec pays Faads w Ieuder. t4e Fffids sl�all be hetd in an iastiwuaa the d�osits ar acoomuls of wtich a:e � � .
<br /> � inqmced or gaaranteed by a Fedecal or state ag�cq(�lnding Lentter if Lender is sush an iasdartion?-Lender sLall apply � .
<br /> . � � t6.e Fw�s to pay�aid taxes.ass�sments.insuiancx pte�ms and groand r�ts.I.ender m�y nnt d�arge foY so holding aud � � . .
<br />-, ag�plpiag ths Finads. anat9�3n,8 said asca�t os ve�if�ring and coaap�ling said ass�a�6�1s. unless Ieader pays �. �
<br /> . Basau�ver i�ecest on tht Fuuds aad agplic�ble taw germits I.�der tm mak�sac�b a charge.Boimarer an�I.eader may agree
<br /> � in�g as the timr of eaecution of this Deed of Ttast that inteiest on the Fuads shall be paid ta Boirovrer.and�mless �i . .
<br /> such tg�eem�nt is�de or appIicab2e law�es sach inoerest to be paid.lxade��a11 not be reqaued m paq Bomnvrer =�, , . . �
<br /> - ' a�r I�c or ear�ings on the Pan�ds.Leader sI�aU give to Bomnwer.wIthmu chazge.an annual accounting of the Fuads � •
<br /> , ' show3ng cred�ts and debits to the F�ds aud the pnipose for c�hich each de6it w t4e Fuads was made. The Fuads are '. ; �
<br /> " � pledged as addiuonal se�ty far the su�secared by this Deed of T�t. .� • • •- •-
<br /> -- ' If the amoaut of the�uads held by Ieader.together wlth the fatare monditg�i.a�ailm�ents of Fm�ds payable paor to � i �
<br /> ' .. ` . `� dte dGe dates of taaes.as�meats. im�uance p��s and grona�t�ts.sbaiL�ed the amouat reqained to paY said 3� .
<br /> -�. � . ` , .
<br /> taxea,a�s. imsaraase premn�ms and gionud�ents as they �!1 dae. srs�c�-�sLatl be. at Boauwer s option, �,
<br /> _ ' .� ei�aer proa�ci;��aid to Boaower or credited to Bomawer oa mo�i����,P^=of Faa�ds. If tbe am�t of she Funds . . _
<br /> ; hetd by Len�r shall not be saffae�m pay taxes.a.5ses�.�insm�ance preminms and grauud�ents as they fall due. . .
<br /> '` ; Bca�tower sbaU pay w Ixnder auq amocmt neces�sary to make ap the deficieacy in one or mo:e payments as Leader may r; ' • .
<br /> � T�i�• �' � ;' • _
<br /> ` ,. � . UPou PaYment in full of�11 so�secured by this Deed of Tmst.Lender si�ali pmmpily refund to Bormwe�$aq Fauds �:'. , ;�.��
<br /> 3r 4� �
<br /> _ Le2d bq Leader.If under patag�apb 17 heieof the Pmgeny is soid or the Pmpertst is otkecwi5e acqaired by Lendet.Lendcr �.�� .-r�
<br /> � sbaU app1Y.no later tt�an 4mmodiatelq g�r ro the s�e of the Pmperty or its acquidHon bp I.enndet.aaY Fnuds he2d hp : ; ,i� `
<br /> ' � Lerder at the tim+e of applicadon as a crec�Zt against the sams sec�i by this Deed aE'�ms� , t:-��� :
<br /> ��;� • '�`J�:s�'� `'
<br /> 3.Apgllt�oa of Pgyme�. Untess appiicable taw pmvides oih�ccaise.a2P�zaents zecetv�d by���uder tbe ��;� -...� .
<br /> •� . :'�r;�`: =,:':�:: •: -
<br /> �,� h'c�►a e�pac�s 1 aad 2 heroof sbal�3x�rglied trg E�Met first in payment or*a�aic papa�T,�to�1�IIormwer
<br />� - �erpam,�aph�hereof,tden to int�p���m�Yote.a��w ths pn�al of the�
<br /> �:i� � •`�r�:` 4. Petx�r�umfl Beeds of�C�; Ide�s. �awer sball perform sII�s'�usrower's obHgadoas , '�.•�
<br /> ' , a�er aay,racntgage, deed of uast or o�er sec�g s�enient wlth a lien which l�as piioritq aver d�is Deed of Tn�st, `�r'��
<br /> : �,..1 ;�Eaarawer's oovenan�w malce paysaent4 w�due.9ox�ower shall pay o:csuse co be patd a1t taaes,asse�enta _ � :,y'?�`
<br /> %� `" ' affi othes cLarges,Snes and imgasIaons aarfbatabk to the property whieh may auaia a p�orIty over this Dced of 1Yast. _ . ,,';,�,'�::
<br /> • � � >
<br /> :`�i aad Ieasehold payments or gioaad nents.if auY. , �:, ��
<br /> S. H�zer�d I�anoe. Bomnwer sbaU keep the�mproveu�ents now exisdqg or hereafter erectrd on the Frogei4y . Y ",;
<br /> , ,. � insuced a�tnst Ia�hy 6c�e.baiards,inc1laded�wai,�thin the.teim'actended cavetage",and s�uh other La7ards as Iender may ,•:;,.:i
<br />. •<.k �./ `_ � �����WVw�w��aLL4u�U�L78$a.6ru4��y�. .� . .
<br /> � ��r. 1he insarance ca�der praviding the i�sumnce shaU be chosen by Bomnwes s��ct w appraval hY I�en�er,Pmvided,
<br /> "�f � . • a ' thai sach a�sc�eval s�ali nns be unseasosaabip wlihLeld. All ins�ce policies a��newads�Of sLall be in a fo:m
<br /> .� � � ..%:'1,.�, acc�table om II�des and shaU inclnde a�dard mortgage clsuse�ftrnar of a��a form aca�t�2e w lxnQet. LeadEz
<br />, ���� . �;f s1�11�ire @s$€ight oo ho2d the pollctes aud ienewals t6er�f,sab,�ea m the terc��8 any mongage.dee4 of au�ar o�er .
<br /> .,,. � . ,
<br /> ;�; � • sacudtq ag�eement with a�vfiich has prlorlty aver c�Deed of Tmst.
<br /> :.,r - ....
<br /> In the went of lo�v.Baaower sLali give prompt zotice w the is�cu�ce carr�er aad Ixnder.l.ender mag�pmof . .
<br /> ;,. . . • . of�oss if aut made P�PUY h3►Bomawa. � ` ;
<br /> �.��, If the PmpertY is abaadoned by ff��.rower,or ig Busrower fa31s to�espond to Lcnder within 30 days fs��the date ' �;
<br /> :�._'; natice is mailed by Lender w Bomowez�at the insuiaace ca�er offezs to seule a claim for iu�ce benefus.Lender is . ,
<br /> a�orl�d to collect and 8gpp&e the insivance p�oceeds at Lender's apdon etthec w reswiadon or repair oE d�Propeny os . �
<br /> ,� w the s�s secured by trss�xd of'Tn:.st. �.
<br /> 6. �rvffiton and Maiat� of FroP�t9; I.a�ehcrt� Condaminfum�i 8,ta�as� �Jntt Deveto��.
<br />-� �` Boamwer s1�l�i kceP��P�Y�8��r and sLaU not cam�ix waste or permit impaiaa.�az de�rio:ai�on of t1�e
<br /> ;���: � " ��� praperty aad s1�aU comply w3th the pmv�.siDas of any tease if this Deed of Tmst 3s on a lease�nld.Lf tl�s D�of Trust is . . ,
<br /> � ` m�a umtt in a candomimnm or a pla�ed unit devetog�en�Bomnwet sLall perfo�ati of Borrower's obligzffnus am�et the
<br /> :,ti..�, � �`� �:cla�adon m cmrenants cte,tting o:gavern3mg the���+�n or planued wut d.^��mens.the by�aws�Y L�eg�ilatiane : _
<br /> ' �'` of ahe caadomiaium or pkmucd�ait deve?o�ent.a�samYitaeat��ente•
<br /> '.;� � '.���;�; 7. Prat�dor�of I.en�er's�y.If�s�wer fails co�e�acm the wvenant�au�!a�s ca�iaed in this
<br /> :�',`, , Deed of Tn�st.or if a�r acdan or grxe�is co ....er.ced vsfi�c��ialty affea�1.er.de:'s int�a na the Property.du+n .�':t
<br /> Lender. at Lender's op�, apon �:e to Bor�.�. maq msdre sach app�, distracse such s�sas. Including
<br /> ���t� �rasonable suorneys' fees.�t take saci�aa}on as�S a,.�ssary to prorect Lendet's 9nteres�If Lender neqai�d mo�tguge .
<br /> � instuanse as a condition of making tt:�a�n secured by this Deed of Trtiat.Boamver shall pay the piemiums roqnired w
<br /> � a�intain suctn uasurance ia effect umL�ch time as the requtrement for such i�uaace terminates in accoidance with � ,
<br /> � BoQmwer's and I.ender's wriaen a�s or appllcable 1aw.
<br /> ` Anyr ama�mts disbarsed by Lender puisuaitt w th�a paragtaph 7�witla interest thereon.at tLe Note rate.shaU 6ecome �
<br /> ��� `' addidonW lndebtedne.sg of Bomnwer s�by this Deed of T:nst. Unless Borro�ver and l.euder agree to other terms of
<br /> � :SK.
<br /> payment� sucb amounts shaU be paya6le upon aotice from Lender w Bolrcower reques6ng paymetu theroof. Notbing ;
<br /> �:�.� . ' contained in this para�aph 7 shaU�equine Leader to incnr any expeas.°or tatce a�r ecdon hereunder. . .
<br /> �� } .� 8. Inspectton. Lender may make or cause to be made reasonable entrl�npon uud inspecdons of the Property. � _
<br /> '•�";�
<br /> : pmvided tLat Lender sl�aU give Bo:rower nouce prior to aay such iaspeaion spet�fying reasonable cause theiefor�elated to
<br /> ` ' Ixmder's incerest in the Pmpeity. �
<br /> � �
<br /> . ] , . :
<br /> i
<br /> : , �� xee�zss�rv-� ui9e Osigiaal(Rocordnd) copy taraaah) Copy tCuntoaar) �age 2 ors ; �
<br />` , ;
<br /> � � --
<br /> ;: :,. �
<br /> -
<br />� ._1 ' . . _. .. .. . .. . . - . . . '. —�'S'�. . ..S�..—. _. • • a v -i�•i_• .�-t�+� .. + . _ � -.".
<br />
|