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<br /> ' Tac�TH� �v►th nll tho improvomenta now or herenfterr erected on tha property, and all easemente, rlghts,
<br />� �' } appurtennnces end rents (subject hawover to the righte and nuthorities givCn herein tn l,ender to collect and apply such �':_
<br /> � ;' � rents),all of which shull be deomed to tks snd remain a part of the praporty covered by thie Ueed oi Trust;and all of the ���
<br /> �. � '� faregoing, togother with seid prop�rty (or the leaaehold estate ii thie Iked of Tru9t is on a leasehold) are hereinefter V
<br /> y;� reforred to as the"Property." �`=^
<br /> t � Iiorrawer covonants that Bflrrower iR lewlully seised of the estate heroby conveyed and has the right to grant and convoy
<br /> the Propurty, and thnt the Property is unencumbered except tor encumbrances of cecord. Borrowor cov�nanta thet �_
<br /> '� Borrower warraate and will defend generelly the title tn tho Property ag»inst nll claims and demands, subjec:t to -
<br /> '`"+"� encumbrances of record. _
<br /> _ �...; r tritF4F.?!4 CQ�j?NAN'I'S. A�**�wer and I.endcr covenant and aRree as tollows: _
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<br />� ,�t�yr,�;�e 1. Pa�ment of Principal aad Intereat. Borrower shall promptly pay when duo the principel and interest
<br /> �'a� �� indabtcdness evidenced b� the Nota, including any variations msulting from changes in the conuact rate, and other
<br /> �' ;,,' charges as provided in the Nota. _
<br /> � �r 2. Funds far Ta�ea aad Insuraace. Subject to applicable law or written waiver by I.ondor, liortowar shall pay to
<br /> . � ". , I.ender on the dny monthly payments oi principal and intarest are payable undar the Note,until tha Notd ie paid in tull,
<br /> •• a sum (hocein "Funds") equal to one-twelfth of the yearly taxes end assessmenta (including condominium and planned
<br /> - "' ' ' ' unit development assessments, i{ any) which may attain priority over this Deed oi Trust, and ground rents on the
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<br /> , � Propercy. if any,plus one-twelith of the yearly pnmium inatallments tor haxard insutance, plus one-twelfth of yearly
<br /> '. � premium instellments far mortg�ge insurance,if any, all as reasonnbly estimated initially and fmm time to time by
<br /> Lender on the baeis of asses�ments and bille at►d reesonablc estimutes thexeof. Borroaer eh�ll not be obligated to mnke __
<br /> � such paymenta ot Funds to L.�nder to thv oxcent that Borrower mAkes euch psyments to the hold�r of a priar mortgage
<br /> ' or dexd of trust if such holder is an institutional lender. -
<br />- , If Bortow�r pays Funds to Ler►der, the Punds shall �o held in an inatitutiun the daposits or accounta ot Nhich are -
<br /> " insured or guarenteod by a Fcderal or etate agency (including L.ender if Lender ia se►ch an institution).Lander ahall apply
<br /> tha Funds tc�pay said taxes,assessmetits, insv:rance premiums and ground rents. I.endct may nmZ charga for so holding
<br /> � and applying the Funds, analy�ing eaid accaunt or ve;ifying and compiling said assessments and�bills,unless L�ender psys
<br />`��` � Borrower interest on the Funds and applicable law permits Ler►der to make such a charge. Horrower attd Lendrr may
<br /> �';;;.:� �. agra in writing at the time oi execution oi thie Dead oi Trust that interest on the Funds shall be paid to Aorrower.end
<br />- ' unleas such agrament ie made or applicuble law reyuires such interest to be paid, I.end,er shall not be roquired to psY
<br /> r;�j�,. � Borrower any inurest or earnings on the Funda.Lendar shall give to Aorrower,without charge,an annual accounting of
<br /> - '�=�'':�•�� the!'unds showing crociiis end ci��ito to iba Pund:and ihs gisc�€�* �h;ch each dabit to thc Funda wsa mnde. The
<br />��'''��'. �'� � Funds ase pled�ged as additional security for the aums se�ured by this Uoed of Tn�st.
<br /> ���•. � , It thG amount of the Funde held by I.ender,togethet wlth the futuro�onthly anstallments of Funda pa�yable prior to
<br />-a!4%��,'�,.' the due daus ot t�xes, assnssments,insurance premiurces and ground rents,shsll es�sed the emount required to pay said
<br /> _r:�x��c;'�� . taxes, assessments, insurancc premiums and ground renta es they fall duo, such e:tcrss ehall be, at Bonower's option,
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<br />- -=."'•°�� eitber promptly repaid to Bonower ar credited w Barrower on monthly installmants of Fund�. If the amount oi the
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<br /> =�•, ��'"• Funds held by Lendar shall not be sufficient to pay taxes,asse.ssments. insurana�remiums and ground nnts as they
<br />�'-_='�'`-��;:� due,Barrower ehall pay to I-oader any amount necessary to meke up the deficie:ecy in one or moro payments ae Lencler
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<br />--- ."-.�. may require.
<br /> ,�,�g,�_ ��, Upan payment in full oi all suma secured by thie Deed of Trust,Leader shall promptly refund to Bonower any fonda
<br />�``�'� held by Lender. If undor paregraph 17 �ieroof tbe Property is sold or the Property is otherwise scquired by Lender.
<br />�---_.-�_�-� Lender shnll apply,no later thnn immediately prior to tha sale of the I'roperty or its acquisition by Lender,eny Funds
<br /> -��� held by Lender at the time oi applicatian ae a aedit against the sums stcured by tQie Deed of Trusx.
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<br /> 3.Application ot Payments. Unless epplicable law provides otherwise, all paymente ra;eived by Londer under e
<br /> ==---- Note axid patagraphe 1 and 2 hereof shall be applied by Lender tirst in pnyment oi amounts payable to Lender by
<br /> -- — Borrower under paregraph 2 heroof,then to interest payable on the Note at the applicable contract rate,nnd then to the
<br /> ____,-�;;ti�;��,� �rincigsl oi the Note.
<br /> ":_�'.:�s�� 4.Prlor Mortzajes and Dceds of Trust; Chtr=es; Lieae. $onower eliall perPorm all of Borrower's obligatione
<br />="_�����r._ under any mortgage,deod oi trust or other s�curity agrament with e lien which has priority over thie Deod oi Trust,
<br /> -'`-""=-=-� including Borrower's covenants to make payments when due. Borrower ahall pay or cau�e to be paid all uxes,
<br /> -- °- = esaesamonte and other cherges,fines end impos�tions attdbuteble to the Proporty which may nttain a priority over this
<br /> -"'� Dad of Trust,nnd leasehold paymenta ur ground ronta,if any.
<br />---,R=-..� S. Haaard Iasurance. Borrower ahall keep the improvements aow existing or hareaftor erected a� 3he Property
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<br />�,�,.,;;�,,� ,�;, � insured ngainst loss by fire, hezards included within the term "extended covernge." and such othor ha�era]s ea n er
<br /> :_>"'��'��. ,... may require and in euch amounts and for such periods es I.ender may require.
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<br /> ''� `"^'�� The insurance carrier pmviding tYce insurance shall be chosen by the Borcower subje�t 3o approval by I.ender;
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<br />-- • provided,that such approval shall not t� unreasonably withhesld. All insurance policies and re��avals thereof shell be in a
<br />_ ' - � form Accaptable to Lender and shall include a standard mortgege clause in favmr c3 and in a forrn acceptable to L.ender.
<br /> ' -••':`�� Lender ehall have the right to hold the policies and renewals thereof. subject to t��•tarms of any mort�a�e,dced of trust
<br /> -- � � �' or other security agreement with a lien which has priority over this Ueea of Trust.
<br /> �' In the event ot loss, Borrower shall give prompt noticv to the insurence carrier and Lend�r. Ltndor may make prooi
<br /> •, �" oi loss if not made promptly by Borrower.
<br /> Unless Lender and �orrower otherryise agree in writing,insurance procee�s`�nll be applied to restbntion or repair of
<br /> �`°� the Propecty damaged, if the restoration or repair is economically feasible asr.d l�nder's security is nat lessened. Ii the -
<br />' �'--�'- ---- . . . - ------:--tt� t�..:tt�....i o...i.�'o �,..,ryr�n��,�ild t,e iescened.the insurance nroceeda shell be
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<br /> . TeStoratton or rcpa�r is i►v�cw„�,�a�.,a�.� ...m•�••.�• •......,--.--.�_-..� -
<br /> , appliod to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrowor. It
<br /> • Banower abandons the Propefty,or daes not answor within 30 days a notice from Lender that the insurance carrier has
<br /> � offered to settle a clsim, then I,ender may collect the insurence praceeds. Lender may use the praceeds to repair or
<br /> restore the Property or to pay sums necured by this Security Instrument,�vhether or not then due.The 30'day period will
<br /> begin when tho notice is given.
<br /> If the Property is abandoned by Borrower, or if Bonocver fails to resFond to L,ender within 30 days from the date
<br /> � notice is maited by Lender to Barcower that the insurance cartier ofters to settle o clnim for insurence benefita, Lender
<br /> is authorized to collect and apply the insurance prxeeds at I.ender's option either to re3tnration or repair oi the
<br /> property or tn the sums secured by this I)eed of Trust.
<br /> -� - OE•�0•84 Dud ol Trwt NE ORICIW1l I��������������������� NE0078Y�
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