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<br /> � :_ --_�°; ' , . . .. � 9�s,'1����� 102145 09/14/1998 t:. . -.
<br /> ., .` .,; TQM L NIURPHY N�LI55A D I�ORFH7C ..
<br /> '.� �:.�. , . UM�RM CavHM�lecl"S: Bomuc�rer aad IxIIder coveaant aad agree as follows: _
<br /> _ �. ". .,,F 'i. hymetR of�pef�l and I�teest. BonowPr shall prompdy pay wben dne the priadpal and interest _. .
<br /> � .. inde6tedu�evideaced hy the Not�and tate cbarges as provided in the Nac$. .
<br /> ' '°;� 2.�ds Bas Taxes an8 tmsmranoe. Subject to applicable Iaw or a written waiver by Iender.Bonuwe�shail pay to . . '
<br /> �= `. ' �E t.eader on the daY awtu�ty►PaYments of prihcipal antl�nterest are papabte uader the Note:�n1il the Notc is paid in fntt.a � �� � `
<br /> . �unt(benein'Ftutds')eq�al to aue-�wtlfm of the yea�iy taxes and a�ssraea�(iasiuding condomiaium and plantte�unit ` ,��._ ,. �
<br /> devetop�at a�.if a�y)wtuch may aaaia prioairy aver�his Deed gf 1'iust.and�rouad�eats on tlr�Propeny.if
<br /> . et�Y.plus a�ttrrelRh of yearly ptetnium insmlimeats for haPard insur�e.plus ont�twelflb of yeariy premium ia�t�em�+ ,,
<br /> . far mnngage i�auanse. if arry.a11 as rea�nably tstimatcd initiatIy aud fmm time tn time by leader an the basis of . � .
<br /> ` a�sus aa�biits and�tea5auable�tes theteof. Borruwer s�aii not be o6L'gated to make sucts payments of Funds � `
<br /> t,�,� m le�ter m the eataat that Bnmawer m�ces sach payaients to the knldcr of a pr�or murtgage or deed of ruvsc�f sueh�olQer -- -
<br /> = � �:�t is�3isatit�t!�. �.'��
<br /> 't It Banuwer pays Funds ca I��et. �.he F�ads sha116e hsid in en ias�icudon the dsposiss or acoouats of wlucb aze f
<br /> .. � ia.sured ar guataateed by a Federal af e�tat�c ageacY(IucludIng Leader if Lendet fis su�en insstlnuion). ixaQer ssGaali apply
<br /> � i tlte Fw�tn pay sald taxes.a�essments.iusvrance premiunts and gmwtd e+tatst.lcnder may not cHarge for sn halding aad . . -
<br /> .. -::. aPpiytaB the Fwtds. aoalyzing saId�aaaunt or verifying and compiliag said as�raents and bilts. ualsss Irndet puys .
<br /> � - '�; 6armwt�iutet�est un tlte Eunds au8 applicab[e laa permits Lender ro make suc�e c6atge.Boaaweraud I,e�e r ms►Y aS� - .
<br /> , • '"`:'� In writing at the tinie of ea�cut�an.a£dtis Deed of Ttost t6at�nte�pn the Fnnds s6al1 t�e paid m Bormurer.aad unl�ss .. ,-
<br /> _ , s�esb eg�ee�ent is made or applicdbt�law�equi�es such inrec�c w 6e paid.Leuder shall uat bs cequired to pay 6osrower ,:7 '
<br /> . , .:., any inse�.st ar earaings on ttte Fun�.Leader�alt give to Borrower.widwut ci�arge.an anrmal acoou�ing of the F�ands . _
<br /> _ . shoc�ring c�edits aad debits to We F�mds aad tite piupose for whic6 each deb�.t�to•tbe Frmds a+as ma�e.T6e F�nds are
<br /> .,, ��:'�� pledged as additional seauity for the svms srcured by this Deed of Tr�t. � -
<br /> If dYe a�um of t�e Fnnds hel�by Leadec togeiher witb t�:.6umre mnndily�allnneats of Funds payable prtor w _
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<br /> � �• Q�dne daLas df,taxe5.asse�meui�. it�uanw p�mimt�s aad grwut�i�.shali euxed the aman�t requiced to�ay�id -
<br /> . ta�ces.�mems. i�uiance prep�iums and.gcaumd�nrs as ti�y�ail due.s�Ti eacess sbalt be.at Baaawer's aptioa � . �' ':a
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<br /> , . . -.�-4 eit6er Pmm�IY rep�l to Bariawrr or cr�ited to Eorr�fwer on tmonthty ins�of Fund� if tLe�m�i af the Fimds �_}_.•_.�,_.
<br /> � _ . '<`r Ir�Id by I,ender sh�U mnt he�saf�si�t w pay taac�.a�e�s.in�aace�aud gcannd cens as�y fatl due. .. _
<br /> . . �,`��r�"��;. Burmwer s6ari�pay W te�er aa�•amirwu noc�ssary to make ap the deficieusY in�ra�ar�s payments as Leuder may �.;.., '� _
<br /> ',f �� _ . .:,, :
<br /> Upun paymeW�n�fnff cf alt sams secured by this Deed of Tmst.t�et�3;�ampi�y n�smd m Eorcoarer any Funds , �y-,
<br /> s � ' -- heid by Ixnder.if mu�r g�ragraph 17 her±eof the P�operty iv sold or the PrBper�.y-)�:a�aoqaired bY I�coder.l,ender . ��. ; _
<br /> . ' st►�l!apply:�tamr d1aa;Ema�ately pr�or m the sa�e of the Pr+operty.or ite�tion by Leader.any FwWs tteld by .
<br /> . ... _ . - .Lcndcr ar t1�enne aff�l�n as a cmdit agaiast the�ms s�aied by ti�is Bee�--bYTmst. . _ __.
<br />_� �:� • 3:' ��yat�ts. Untess applicable iaw pmvldes otherwis�all paymems neceived by Irnder nIIder tk��::��;� . : :..: '
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<br /> - ,,,.�} ` .Nate and paiagra,t�5;�.aaaQ.2�e�eof sbari be apptied bg Lender Szst in paymetu+o�.�mounts PaYa6te to I.end�r bg Botm�er.::-'.'. .�;,":' ,:';" --
<br /> � • under paiagcap�2 he�o�.`i�n m inte�est payable oAiii�Note.and then to the p�cdpal af die Noce. �� , . -
<br /> s :.�.,��. 4.Pttor Mo �ad Deeds o��ru�;�Ida�.Borrower s�•pedorm aU.af Boma�'�.vbligati�ns � -
<br /> , . rt�"_, �
<br /> ., . �er a�►�n�tgaSe.d+�of uurx�ur ather���ag�eement with a lien aluc3i Has prrc�over dtis�eed of Tzu�.
<br /> ° -- ineMding Boimcaer's ca..�c�ts to make gaymnars.�n due.Sorrower shal�pay or ca�e ta l'r�patd all taaes.a�ents ' --
<br /> ;:l; ' and ather cTaarge�s.5�,��a���oas ataibut�te�the Pcaperty which mag�di�in a ptiorIty dver this Doed of T�st. J r°`� ,�' -
<br /> ' . . and teazehold paymem7a:i��iasund nents.if any. ` :. `.� . �..'`
<br /> � . S. �� Bomawer shalt ke��ih:improve�ms aosd q.�.aa�rg ar I�reafter e�aa the Preperty. ��'�s` .
<br /> - --� `' insut�ed oga{ast io�b;z�e.6arards inchrdcd "�,�'i'�,�' and saub other harrdrrds as I.euder mt� • . �;�`�
<br /> within t�e term . ha ds � ,,,.
<br /> . . �+equire and ia suclra�np�nts aud for stich periods as 1�e n d e t ma���i�;�.,; ::s . .
<br /> � 7'he imarance e�.�r provlding the insuranoe s�U be chos�t¢�y�csr�',��:nbjott to apptaval by i.ender;provided�: � , ra� -
<br /> rt y ., �:. �,:��. tGat sach appmval s�L.�?at b e unreaso a a b ly wi��d. A i l insuranc�e po F�.�s d c e n e a+a t s t h e c e o f s l�i 1�4 e i n a f o i m '�' : °„�
<br /> table w lxndei�1�3'all inclade a sta�tdard+�'.gaSe clause in favor c���:�a form aco�ftabt�.�6.u�tder. Lender . � �� __
<br /> x ;3� � ."- ` � -
<br /> ' �?+y.' sLaU have the aght to$cr]3 the polici�s aad�cnewats S�eroof.snbject to the ter�5 of apY�Sge�dee�of t�t orotUer r .F�r ,' � * ,_:.
<br /> Yi .. �i,� it ti.�. _.� i:'SS 1 _
<br /> . .� � fl� � s�uity agcoemeni witb a'Uen wtic��as prtarity over this Dexd of Tn,st. . . ,. . . ; �
<br /> .' ia the event of las�;�Aormwer shall give pmmpt notice w the iasuranroe.cas�ier and Lender. Irender may maEce proof �
<br /> . :� of ioss if mi wade pm�3Y by Boaower. . '.;' -• : • �` ..''.lY;
<br /> . �..} If the Froperty,t�s�haadoned by Borrower.or iP Borrower faits m�md�m Lender within 30 days fmm the date �t�I.:�"f:�-;;-�°;,
<br /> ��, aotice is mm�ed by��er ta Borrower tbat the iasuiance car�ter offe�5 co•+�+.ie a claim for ins�uacee benefita Leader is �i� "�'
<br /> � ., autho r�to co ue�s�.app ly t he in�uanoe p r u ce�s a t�n d�'��'�t o�s t o r a t i o A o r n p a i r o f t h e P m�rt y Q r , - ..
<br /> � to the sums sepue�l�i i�u3s D�d of Tnist. �. � . `��.,��
<br /> . r -' 6. Preserv�tr,.�ss�id Matnt�ance of prap�ty; I.����aiums: �aaned Unit II�vetapmr�ts. >;: _
<br />-,�� ._ � Bormcver shal!keep t��noperty ia gooal zepair and sb�ill aot var.�e.��w.�fr��r�ii Imp�iimrai or d�rcti;�tion of the ,,k" , .
<br /> . _ piupetty ansl sLa1l cd��i�a�ith the pmvisions of a�+tease if t�t�i�iit',�'auv��on a tea '�ald.If d��1'�1 of Ttnst is r�: �:'7.
<br /> � on a unit in a condour'��or a plan�f anit development.�e�:s�,li'�a4c�d•aIl of���c's o€�.�or�s nn�er the �
<br /> . � � d�ela�aHon or cavea3a��tinB or gwemiag the ca�.�a.�n�i�,easi�mac�+elopmen�ttie by-Iaans uad tegWadons +
<br /> .. � of the oondaminium oT;�st�u�d uuit deveIopm�t.�d`��tuent docum�n.. .
<br /> , .� ; 7. l�t+otectton o�Y.eadce'e Seautty.if Borro�r fails co perfaim tLe caveuants aafl agreemeats caa�d in tl�s .
<br /> - Deed nf Tmst,or if any acdoa or pr�ceediAg is cammeaced Whicb materiallY affects lxader's i�emst in ttbte Propetty.then� t. , ..
<br /> � . �� � Leader. at Lender's optlon. upaa not�cr co Boirower. may make sush appearances. clis6utse such sams. i�tndlag .
<br /> � . ' . ceasoaable attomeys' fees.aad tage sucb action as is ne�y to pmtect Leedet's inte�est.If l.cnder iequired u�ortga�° .
<br /> '. � tnsu�as a condidon of matdq$the loaa secuied by thts Deed of TnLSt.Borrawer shal!pay tLe ptetWums cequired to .
<br /> . ,, ma�ntain such intitiwaiue in ef�'ect untll s�ucb dme as the reqairement fvr sucb inswa�e tetm�tes In aecoid�nce wlt� . .
<br /> � :� � - ` Eorrower's su4 Leflder's writteo agreement or app�cab2e faw � - � �
<br /> • � ' My a�dts6tused 6y Len�rt pwbvani to this paragrapL 7.witb inxrest thereon.at tha Note tate.sbaU bec�me � . . '::".
<br /> � � a�didoual indebtedu�of Boaower se�uied by th�s Doed of 7'nuc.UnIess Borrower aced LeaQer agt�to o@ier ce�of � ,
<br /> . -; P�Y�m. sucb amounu s�aU b� p�ya62e upan aotice from I.ender to Honnwet reqa..'�sting paYa�at thsreof. Nathtng _ .
<br /> : ! aontainsd ip this patagtapb 7 shaU tequire Leader m insut auy expease or take azry actIon herenQder. . . .
<br /> � : ' . . 8. Ias�ectton. Leades may make or caase to 6e made r�onabte enutes upon and iaspecdaas of the Pcupeny. :
<br /> . "• � provIdod d�at la�er sball give Sormwer nodce prior to a�r sac6 inspecdoa specifying reasonab2e cause eherefor refared to : .
<br /> . � I.eader's interest in the Pcaperty. _.
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<br /> ' ' � NeDraste 26976d 1l98 osigiaai�&eeosdee) Cagylgraach) CapylCustomer) t�age 2 ots .
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