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<br /> Loari iaa sa000aeoi
<br /> � Borrower covenants that Borrower is lawfully�ets�si of thc eatate hcreby conveyed i�nd hns thc rlght to
<br /> grant and convey the Property, aad that the P:operty is unencumberecl,except for encumbrances uf�ccnrQ. : ,
<br /> Borrower oovenaats that Borrower warrants and wlil defend generaily th�title w the Fropeny u�ainst all cl:aims -;-
<br /> � `. and demands,subject to encumbraaces of reco�d. •.U;'�:
<br /> 6":t.:,_
<br /> UNIFORM COVENANTS. Borrower and Lender covenant and ngne as foUo�vs: f `
<br /> 1.Paymeut of Prtnctpal and Iuterest. Borrower shall promptiy pay when due the principai and interest ��;;;;;
<br /> ''�'''"'� indebtedneas evidenced b the l�ote aad lato chazges as provided in the Note. �
<br /> � �`' ��',s� i y �`:
<br /> ���:-�;�S•:';�� 2.�ads for Taaces aud Insurance. 5�bject to applicable law or a written waiver by l.endet, Borrower ��-
<br /> � ,��..;.,�;. F,•.�
<br /> ` ���°;�:��;�; shali pay to Lender oa the day monthly payments of princtpal and fnterest are payable undcr the Note,until the ___
<br /> ' �;;��` Note is paId in full,a sum(hereln"Funds')equal to one•tweifth of the yeazly taxes and asseasments pncluding _
<br /> condaminium aad planned unit development assessments,if any) whlch may attain prtoriry over this Deed of
<br /> �.� Trust and ground rents on thc I�'roperty, if any,plus one-twelfth of yearly przmium installmenta Yor haztud -
<br /> , insurance,plus one-twelfth af yesrly premium installmenta fot mortgage insurance.if any.all as reasonably ___
<br /> ;. :� estimated initially and from time to time by L.ender on the basta of assessments and bills and reasonable
<br /> „ , ' � . estimates thereof. Bonower shall not be obligated to make such paymeats of Fands to Lender to the eatent that _
<br /> B o r r o w e r u a a k k e s s n c h p a y m a n ts to the holder of a prior mortgage or deed of trust if sucb hotder is an :°��
<br /> `� lnstimtional lender. _--_
<br /> . z�, If Borrower pays Funds to I.ender, the Funds shall be held in aa tnstitution the deposits or accounis of E:__
<br /> �� � �, which are insured or guaranteed by a federal or state agency(including Lender if Lender i9 sucU an institution).
<br /> . . . Lender shall apply the Funds to pay said taxes,assessmeats,insuraztce premiums aad grouad rents. Lender -
<br />� •.�.�t'� � may noi charge for so holding aad applying the Funds.analyziu8 seid accouttt or verifying and complling said -
<br /> „ assessments and bilis,unless I.ender pays Bortower interest on the Fw►ds and applicable law permits Lender to
<br /> .�. make such a charge. Borrower and Lender may agcee in writta8 at the time of execution af this Deed of Trust
<br /> ��=�' thaz�aterest on the Fuads shall be paId to Borrower, aad uniess such agreement is made or applicable!aw —
<br /> . , ��� � requires such interest to be paid.Leader shall not be required to paY Borrower aay interest or earnings on the
<br /> T _ ,_ Funda. Lender shall give to Borrower. without charge,an anoual accowiting of the Fuada ehowiag credits and
<br /> ----
<br /> """ •� debits to the Funds and the purpase for which each debit to the Fuads was made. The FunQe aee pi g as -
<br /> " addidonal securlty for the sums secured by this Deed of Trust.
<br /> � If the aaiount oP tbe Ptu►ds held by Lender,together with the tuture monthly Wstallmenta oY Fuads payabta -
<br /> • prior to the due dates of taxes,assessmenu, in�urance PremiUU�s and ground rents,shall exceed the aTnount
<br />-��_';' required to pay said taxes.assesaments. insurance premiunus end ground rents as they fall due. such exc.qs shall
<br /> r:,�w.,.,
<br />_ � ' be.at Bomower's optioa,cither prctppdy repaid to Borcower or credited to Borrower oa moatLly installmenta
<br /> • •.���� of Funds. If the amount of the�Funds held by I..ender shail aot be sufticient to pay taxes,assessments. �
<br /> ��`�" �� insuraace premiums and grouad rents as they fall due, Borrower shall pay to Leader eny amount necessary to
<br />''�'"•"`.' • nake u�the deficieacy ia one or mare payments as Lender may roquire.
<br />,. ..,,, ... .,
<br />� ,,. „ Upon payment in fiill of ali sums secured by tUiis Dced of Trust, Leader shall promptly rcfimd to Bomower
<br />__;:r.-��. . - any Funds held by I.ender. If under paragraph 17 hereoi the Property is sold or the Property is otherv�+ise
<br />-- `�-��� acquired by Leader, I.euder shall apply.no latcr than immediat�ly prior to the sale of the Property or ita
<br />;������] acquiaition by L.ender,any Funds held by Lender at the time o�'application as a credit againsc the sums setured
<br />�;-_:"==�. ; by this Deed of Trust.
<br /> - 3. Appllcatlon of Payments. Unless appllcable law provides otherwise.all payments received by Leader
<br />�°°^dv'� under the Note and patagraphs 1 and 2 hemof shaA be applied by Lender first in payment of amounta payable to
<br />��'; �'��� L�ender by Borrower under paragraph 2 hereof,thea�to interest payable oa the Note.and thea to the principal of
<br /> -.�,.�,:Yi�`•y:.'., the Note.
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<br />_�.� 4. Prtar Mortgages attd Deeda of 7Yus�Cbmrges;Liens. Borrower shall perform all of Borrower's
<br />_�--�-'�=:.��:� obligations under any mangage,deed of trust or other securiry agreement with a lien which has priorlty over
<br />�� this Deed of'tYuat. including Borrower's covenants to make payments whea due. Bonower sball pay or cause
<br />-�"""�'"=.:� to be paid all kues. assessments and other chatges, Fines and imposidons amibutable to the Properry which may
<br />_-:.�;�:-.-
<br />� —=:,,:,;: attatn a prlority over tbia need of Trust,and leasehold payments or ground rents,i any.
<br /> 1.;;'�;.:���,;. • • 5, HazaMl iasurance. Borrower shali l�eep the improvements now exIsting or hereafter erected on the
<br /> _�_•-i'�- . �- Pmperty inaured against loss by fire,hazazds iacluded wltbin the term"extended coverage,' and such other
<br /> F•. . + •� hazatds as Lender may require and In.such amounts and for auch periods as L,ender may require.
<br /> ,, ' The iyasurancc carrier providing the iusl1xance shall be chosen by Borcower subject to approval by Leader;
<br />-_ pmvid�d,that sucb approval shall not be unreasonably witi�held. All insurance policies and renewals thereof
<br /> � � shall be in a form acceptable to I.ender and shall lnclude a atandard mortgage clause in favor of aad in a form _ _
<br />- acceptable to I.ender. Lender shall have the rigtu to hold the policies and reaewals thereof,eubject to the tenps
<br /> � � �, of any mortgage,deed of trust or other securiry agreement with a Iien which has prioriry over this Deed of -
<br /> � R. . Ttust. _
<br />- g In the eveat of loss�Borrower shaU$�ve prompt notice to the insurance carrier and Lender. Lender may
<br />� ����_l_ mslce oronf of loss if not made nmmvtiv bY ��Wer.
<br />= �"' ' If the Proporry is abandoned by Borrower, or if Borrowet faiis to respond to Lender witttin 3v aays flrom =__
<br /> �� '�' the date notice is mailed by Leader to Borrower that the insurance carrier offers to settte a claim for insurance �
<br /> � t�enefits,Lender is authorized to collect and appiy the�auraace proceeds at Lender•s option either to restoratfon �::;...
<br /> • or mpalr of tha Property or to the sums secured by ihia Deed of Trnst. �-
<br />� 6.PceservatEon and Maiutenance oi Property; Lease!►olds;Condominiumsi plannetl Uait
<br />_ lkvetopments. Boirower shall keep the Property ia good rePair and shall not commit waste or permit
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<br /> InitialsW��..�
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