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<br /> 'I'OGIs"PHER with all the improvoments na�v or hereafter arected on thd property, and all easamenta, rights, �• ,r:r,.��,'.
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<br /> appurtenances and renta(subject however to ths righcg and authc�rities �iven herein to Lender ta collect and apply such ,
<br /> renta). all of which shall be deem�edTS�r he leaseb�ldaestate hf th A Deed oteTrdiistYishonIa le ehold)tare hereinaft r
<br /> � foregoing, together with said p pe y ( �
<br /> } referced to as the"Property." '
<br /> ' � Borrower covenenta that Borrower is lawfully seised af tha estate hereby conveyed and has the right to gront and convay
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<br /> the Property, and that the Property is unencumbered except for encumbrances of record. Borrower covenante that
<br /> Hottower warrents and will defend generaUy tlie titia to the Property against all claims and demands, subject to ,;."` T^.
<br /> " } I e n c u m b r a n c e s o f r e c o r d, �'•�,�`�t`�'�
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<br /> I UNIPORM COVENANTS. Aorrower end L.ender covenant and agree as follows: •�'+�•...kRt;•,t_-
<br /> '� I 1. P�yment o� Principal end Interest_ 13�,arrower shall promptly pay when due the principal and interest �;,�_,,�'��u
<br /> i_ti.�.
<br /> indebtedness evidenced by the Note, includ.ing any �•ariations resulting from changes in the contract rate, and other �r����_
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<br /> � charges es provided in the Note. -�`s"`�-'
<br /> � 2. Punds for T�xes and Insurance. Subject to applicablc Iaa• or �vritten waiver by I,ender, Horrower shall psy to ��,`.p'°
<br /> � I.ender on the day monthly paymente of principal and intereat are payable under the Nate,until the Note is paid in full,
<br /> a sum (herein "Fund..") equal to one-twelfth of ths yearly taxae and assessments (including condominium and planned
<br /> •� unit development assessments, if any) which may attAin priority ovcr this Deed of Trust, and ground rents on the -
<br /> , Propetty, ii any, plus one'twelfth of tha yearly premium inetallments for hQiard insurance, plus one�t�velfth of yearlY M
<br /> ' �� premium installmentx tor mortgego insi�ranca, it any, all ae reaisonably estimated initielly and trom time to timo by
<br /> � l.ander on th� �is of assessmenta end bills end reeRaneble eatimates thereot. Iiorrower ahall not be obligated to mako
<br /> �' such paymentc�ot 1�unde ta Ixnder to thc oxtent thnt }3c�rrower mskea euch payment�te� the holder oi a prior mortgago �____
<br /> � ar deed oi truat if euch holdor ifl an inatitutionel I�nder.
<br /> li I3orrawar payA l�und� t� I.endur, the 1'unde Khnl1 ba held in an inetituti�n the depasits or accoi�nts of which are __
<br /> ineured or guerantad by e 1'edurel or etnte agoncy (inc:ludina L.ender if f.ender ie such an inetitution). Lendar ehall apply
<br /> .'�:, the Funds to pay seid taxes,aaseasmaats, insurance premiums attd ground rente. Lender may not cherge tor so holding
<br /> and applying tho��unde, enelyzing seid eccount or verifying and compiling said essegsments and bills, unless L.ender pays
<br /> Aorrower interest on the I'unde and applicabl� lew permits I.ender to make such a charge. Borrower and I.ender may
<br /> agree in writing at the time of execution c�f this Deed of"I'rust that interest on the Funds shall be paid to Borrower,and �
<br /> unless such agreement is made or applicable lsw requires such interest to be paid, I.ender shall not bo required to pay
<br /> Borro�vor eny interest or earnings on tha Funda.Lender shell give to Aorrower,without charge,an annual accounting ot —
<br />________ _ rhe Funds ehowing credita and dabits to the Funds and the purpose for which each debit to the Funds was made. The
<br /> Funds are pledged as additional security far the sums secured by this I'xed of Truc,i.
<br /> � If the amount of the Funde held by Lender,tagether with the future monthly installments of Funds payable prior to
<br /> � the due dates ot taxes,assessmenes, insurance premiurns and ground rants,shall exceed the amount required to pay said
<br />=;a,. . uxes,essessmentc►, inaurance premiums and ground rents as thay fall due,such excess shall be, at Bonower'e option,
<br /> `� eithar pramptly repaid to Borrower or credited to Banower on monthly installments of Funds. If the amount of the
<br /> "�'.� � Funds held by Lender shall not be sufficient to pay taxas, assessmenta,insurance premiums and ground rents ae they fell
<br />-=�`-''�""' . due. Horrower shall pey to Lender any amaunt necessary to meke up the deficiency in one or more payments es Lendor
<br /> _' ``� �'";, ° mny require.
<br /> '"'' �`�� �` Upon payment in full oi all aums secured by this Deed ot Trust,Lender ehall promptly refund to Borrower any tunds
<br /> F � • •'� is otheraise ac uired by Lender,
<br />`•� �,'...'.,, held by Lendcr. It under paragraph 17 hereof tha Property is sold or tho Property 4
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<br /> 3.,:�t ,,���� Lender shaU apply, no later than immediately prior to tha sale of the Property or ita acquisition by I.ender,any un
<br /> �}� ' hold by L.ender at the time of application as a credit against the sume s�cured by this Deed of Trust.
<br /> � "'�'� 3.Appllcat{on oi Paymoate. Unless applicable law provides otherwise, all paymenta received by Lender under the
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<br />�'�'�l,':;,� N o t o a n d p are gra pha 1 and 2 horeuf ehall be applied by Lender 4irst in payment of nmounts payeble to Lender by
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<br /> :;- ;� �..�, Borrower under paragraph 2 hereof, then to interest payable on the Note at the applica b le contrac t ra te. e n d t h e n t o t h e
<br />=j•. ` "?r..,, principal of the Note. �
<br /> ���''�'��:" ' 4.Prior Mort=ages and Deeds of Trust; Charges; Liens. Bonower shell perform all of Borrower s obligationa
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<br />_=�,..:.,�.�,.��:.�, 1 undor eny mortgage,deed of trust or other security agreement with a licn which l�as priority over this Deed of Trunt, �- _
<br /> _-1�•� ' includin Borcower's covenanta to make payments when due. Borrower shall pay or cause to be paid all taxes, _
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<br /> essessments and other charges, fines and impositions attributable to the Property which may atUsin a priority over t is
<br />�-r4.:.;.,.... D�ed of Trust,and leasehold payments or graund renta,if any.
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<br />�11,�,,�::.. ,.., , • S.Hszird Ineurance. Borrower shall keep the improvementa now existing or hereafter erecud on the roperty
<br /> z;, .,:',�"'�'�, insured againet loss by fire, hacards included within the term "extended coverage," and such other haznrds as Lender
<br /> - ' may require and in such amounts and for such periods as I.ender may require.
<br /> -• � The insurunce carrier providing the insurance shall be chosen by the Borrower subject to approval by I,ender;
<br /> - , provided,that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a
<br /> ' �:'�" form acceptable to Lender and shsll include a standard mortgage clause in favor of and in a form acceptable to Lender. M_
<br /> :.'tir'�'•� S.•. Lender shall have the right to hold the pc�licies and renewals thereof,subject to the terms of any mortgage, deed of trust
<br /> ��n�.
<br /> or other security agreement with a lien which has priority over this Deed of Trust. � :`Y_
<br />_ �� � In the event ot loss, Borrower shall give prompt notice to the insurance carrier and I.ender. Lender may make proof ;.,.�y`;^_
<br /> � . of loss if not made promptly by Borrower. ''°��
<br />" Unless I.ender and Aorrower otherwise agree in writing,ineurance proceeds ahall be applied to restoration or repair of '.,yrY�
<br />- , t t the Property damaged, if the restoration or repair is economicaUy feasible and Lender's security is not lessened. If the : �';,;:
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<br /> , restoration or repair is not economically feasible or I.ender's security �vould be lessened,the insurance procceds ahall
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<br /> � eppliecl to the sums secured by this Security lnstrument, whether or not men uuc, w����n«y ���� f�.��-- ----..-°-•• - - -• .
<br /> � Borrower aban3ons the Property,or does not answer within 30 days a notice from I.ender that the insurance canier has
<br /> offered to settle a claim, then Lender may collect the insurance proceeds. I.ender may use the proceeds to repair or
<br /> _ restore the Property or to pay sums secured by this SecUrity Instrument,whether or not then due.The 30'day perind will
<br /> • • I begin when the notice is given.
<br /> - I If the Property is abandoned by Borrower, or if Aorrower fails to respond to l,ender within 30 days from the dnte
<br /> _ , notice is mailed by I,ender to Borrower thut the insurance carrier offers to settle a claim for insurance benefits,Lender
<br /> " is authorized to collect and apply the insurance proceeds at I.ender's option either to restoration or repair of the I
<br /> � Property or to the sums sec:ured by this Deed of'I'rust. I
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<br /> _; 00-�0•94 D�sd of Trust NE ORIOINAL INIII��II���I��I����H�I�N�p�n�1���� NE007924 '
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