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<br /> , , TO SECURB to Lender the repaymcnt�f the lnd�:btedness evideac�d by IIorrower's note dpted _
<br /> JUNE 19, 19 9 7 ead eactenstons and rencwals thercof(hcreln"Note"), �
<br /> In th�principal sum of U.S.S 22,000.00 ,with lnterest t6ereon,providing for :
<br /> ' " � monthly installments of principal and interest,with the balance of the indebtedness,if not saoner pald,due and payablo I
<br /> �� �,'' on JUNE 18, 2007 ;thc paymcnt of iU other sums,with interest thercan,adv�nad
<br /> � �.' in accordancc herewith to protect tho se.cudty oP thts Deed of Trust; and the periormanee ot the oovenants and '
<br /> � , agreements of Bonower h�rein oonteined. '
<br /> ,,,,�,�. Boirowcr covonants that Sorrower is lawfully sclsed ot tho estatc hereby wnveycd and kas tho dght to grant and '�
<br /> •�,,,,�..�ei�� • convey the Property,and that tbe Property L�unencumbered,exoept far eacumbraaces of reoord. Borrower vovenants _
<br />- "' .. � that Borrower werrants aad will defend generaUy the tlde to the Property against all claims and�lemands,subjecr to _
<br /> encumbrances ot tecord.
<br />-, t � UNIFORM COVENANTS. Bonower and Lendcr covenant and agrce as foUows:
<br /> ,� L Pa�ymeat of P�iac�p�l �ad Iatann� Borrower shall pmmptly pay when due the princlpal and intsrest -
<br />; _'� indebte�ness evldenccd by the Not�aad late chncges as pravided in the Note.
<br /> �' Z Pbac4 for'ihnca and Inwranx. SubJect to applicable law or a wrItten watver by Lender,Bonower shall pay
<br />- .# to�nder on the day moathly paymenu of principal aad interest aze payable under the Note.uatil thc Note is paid
<br /> ' � ln fiill,a sum(herein"�nds'j equal to one-twelhh of tbe yearly taxes and assessments(including condominium and
<br /> � " � planne.d unit development assessments,if any)which may attain prlorIty over this Deed of Trust and ground rents oa
<br /> '� the Property,i!'any,plos one-twelfth of yearly premium fnatallments for hazard insurance�plus one-twelhh of yearly _
<br />� :,. ;;.; premIum iastallments for mortgage insuraGCe. if any,all as reasonabiy estiwated initially and from tlme to time by
<br />'t:;.:�•.,;�°.;.•, - Lender on the basis of essessments and biUs and reuonable estimates thcreo� Borrower shaU not be obligated to
<br />�����`t;'�::;:;,` ' make such payments of Funds to Lender to the extent that Borrower makes sucb payments to the holder of a prtor
<br />�• • � mortgage or deed of trust if such holder is an instimtional lender.
<br /> If Bonower pays Funds to Lender,ttte Fbnds sHaU be held in an dAStituUon the deposits or acoounis of whlch are
<br />'%�,; � insured or guarantced by a Federal or stats agenry(lncluding I.ender if Lender is such an insticutlon). I.eader sl�all
<br /> �� apply the fiuids to pay said taxes,assessments,insunace premlums and ground ienLS. Leader may aot charg�o for so
<br />�.� holding and applying the FY�ads,analyziag said account or verifying and oompiling said assessmenta and bllls,unless
<br />-�="''`� ` Leader pays Borrower iatenst on thc FY�nds and applkablo law peraiits Lend�r to make such a charge. Bormwer and
<br />��!"�'�` '"� Lender may agree in wrlting at the dme of executioa of this Deed a'f Trust that inurest on th��nds shall be paid
<br />��•`' � '��� to Bonower,and unless such agteemeat is atade or applicable law requires sucb iaterest to be paid,Lender shaU not
<br />.�,_�:•`�;��;.i.". be roquired to pay Bonower any inurest or earnings on the Fbnds. Lendcr shaii give to t3orrower,witDout cbarge,
<br /> _ .r;.,.,.
<br />- �,�,., ea annusl accounting of tt�E Fs�wds showing credits aad debits to t�e Fhnds and the purpose for which each debit to
<br />=rr�%'±�"�'�'��� We Ftinds was made. The F'�uds arc pledged as additianal secudty for the sums sec�ued by this Deed of Trus�
<br />�'�"�'�"'�`"� �� Yf the amount of tbe F unds held by Lender.together wlth the future monthly instellraents oP Fbnds payabl8 prlor
<br /> ...v14 wJ.�%.�•!
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<br /> _=•.t x,.+�, w W e due dates of taxes,assessmeats,insurance premiums and grouad rents,shall exoecd thc amount required to pay
<br />::.it7�7:_.��•'__�.
<br /> =_��_L�.-� said tases, assessments,insurana premiums end ground rents as they fall due,such exass shall be,at Boraawer's
<br /> �_,;;,`�,:� optioa,eithes promptly repdd to Borrower or crediud to Borrower on taonthly installments of Fnnds. If the amount
<br /> :;�".�f,�...,�,`� af tha Funds held by Lender s�ll not be sugicient to pay tax�es,assessmcnts,inauranoa premiums and grouad rents
<br /> _-_:.;,�:`�� as thcy fall due,Borrow�r shaU pay to Lender any amount neaessary to make up the dofidenry ia ono or moro
<br /> --_y= payments as L,ender may requiro.
<br /> _=-��� Upon payment in full ot all sums secured by tt�Deed of TYust,Lender shaU prompcly r�fund to Borcovver any
<br /> -- '__�,� fi�nds hWd by Lender. If unc�er paragraph 17 hereof the Property is sold or We Paoperty is otltetvvise aoquiral b y
<br /> Leac]er,Lender shall appty,na later than immedtauty prbr to We sale of the Pro�erty or its aoquisition by I�ndcr�
<br /> -�� eny Fbnds held by Lender at ttio time of applicatioc�s a crodit against the sums sociued by this Deod of Trust
<br /> -,��� 9�. Applic�tlon of Pay�eab. UNess applicabk law provides otherwise,r.Jl paymenta re�ivod by L.ender under
<br /> .,,� t�e Noto and pwagraphs i and 2 heroof sh�ll bo appliod by Lender first in payment of amonnts payabk to L,ender by
<br /> --- Borrawer under paragraplt 2 hereof,then to interest p�yable on the Note,and Wen to the prtacipal of the Note.
<br /> ==T'�� 4. prb�Mat�a aad l;)eods ot 11r�h,Q�rlx; 13eas. Borrower shall perform all of Bonovver's oblig,acions
<br /> - under�ay mortgage.deoQ af trust or other security�greement wich a Ikn which has prloriry mrcr this Doed of Trnst,
<br /> =—� inetading Borrower's covenutts to malce payments Nhan dua Bortower shall pay or cause to be paid all tazes�
<br /> -��� atsessmcau and other cha=ges,gnes and impositions atr(butable to the Propeny whicL may attain a prlorlty over tWs
<br /> ��;n'r� Dad of Trust,and le�sehold paymenu or gcound rents�if any.
<br /> —�;�,�: S. I�arard Iawra�o� Borrower shall keep the lceprovements aow e�dsting or here,aftcr ereaod on tho Property
<br /> - -" tasured agatast laas by Cue,6a�srds 1ncJuded wIthin the term'excended an�eraga`,and such other hs7ards ac Leader
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<br /> .�;.'�`�,'��.;�> mA y r o guire and in such amounts and for such p erlods as Lcnder ma y r e quire.
<br /> ` TLe insurana carrier provtding the insurance shall be chasen by Bocrovver sut)ect to approval by Lender,provIdod, -
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<br /> •��:'':' ��:• that such approval st►all aot be unreasonably withheld. All insuranoe polides end renewaLs theroof shsll be in a form
<br /> •- _�''��' aaoeptable to I.ender and sh�ll include a standard mortgage clause fn favor of and in a fotm aaxptable to L.ender.
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