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<br /> • TO 5�CURE to Leadcr thc repaymcnt of rho indebtedness evtdenced by Bonower's note dated ���
<br /> OCmOH�R 17, 1997 andextenslonsandrenewalsthereof(hereia'Note")� Ej �,
<br />-,���� ,with interest thereon,provlding for _
<br />•_;„� in tha prtnclp�l eurn atU.S.S �5,Q00�00 _-
<br />--=.,:;,.•. mcmthly Inst�llments af pNnclpa0 2d lntercat,wlth the b�alu►aymantof all other s�ums,wit iaterep.gt�thcreoa,ad�anc�d =-
<br /> . ;. un OCTOaB�t 23, 3 ;
<br /> .n��M Ut wc�x�rdutco hor�wtlb to pratect tho eccudty of this Deed of Trust; and the pert'ormance of the oovenancs and
<br /> -.s:� �_
<br /> wgrcemonte of&�rrowen c�rcia contalned. _.
<br />�.�:��._�� Barrower covenYnte th�t Burcowar is lawfuUy selsed oP tDie�tate hereby conveyed and has the right to grant and (� c_
<br /> - - oanvey tho Praperty.anA that tde Property b uY►oacumbeted,aceept for encumbrenoes of record. Horanwer covenants 1
<br /> -_��� tttat Borrower w�r•ants and w!!1 defead generalty tha title ta che Property against all claims and demands,subject to �
<br /> °�� encumbnnoea of reootd. o�
<br /> � ' UNIFORM CO'VENANTS. Bono+�+er aad Lender covenanP and�egr��follows:
<br /> . 1. ��t� p��� � Inte�+p1. Honower ahall rom tl when due t&o princlpul and inurest �
<br /> ,T . ' indebtodnea�evtdenctld by the Notc ac,d S b�o e eS��b edl wjo e writtea waiver by I.ender,Bonower shall pay �" -
<br /> .°,.,�,1°,. 2. F+usd�for'Itiao�ud Ia�ur�noe. 1 PP
<br /> -•• :�s„ a��af rinci and intarest are payable under the Noto,unW the Nota is pafd
<br />--a, _ , ta Lander on tdo day moathlY paya► P P�
<br /> �s-r-`::, in tull.a eum(heroin"Funds")aqual to onatwelfth of the yearly taxes aad assessments(including condomWtuu snd
<br />:iK!_.,
<br /> m�_�, plannod uait davelapment assessments,if any)which may uttain priority over this Deed of Trust and groun renta on
<br /> — the Proparty.U any�plw ono-tweltth of yeuly premium iusteUmonta for bezard insurance�plus one-twelfth of yearly
<br />---i premlum insullmcnts tor mortgage insuraace,U any,all as reasonably estimated initially and from time ta time by f
<br /> w ._''-� I.an de t o n t h o b t u l a o f a a a e a sments and bpls and reasoneble estimates therw£ Borrower shall not bo obUgated to
<br /> m�k o�u c h p�y m e n u ot Funds ta Lender to the extoat ttwt Bonower makes such payments to t he ho l der o f a p r i o r
<br />�,-,`a���� mo t t ga go or decd ot trust it such holder is en U►stitutiona l len d er.
<br /> - - ��gnnower ptyb Funds to Lander�the Funds shaU be held in an i n s dtu t ion t he de p o s i t s o r a c c o u n t s o f which are
<br /> -:'�'�� in�ured or gwranteed bY a Federal or state agency(including Lend�r tf Lender is such aa institutton). I.epder shall
<br /> - appty tha Fundt to pxy said wzes�essessments�l a s u r e n c e p r e m i u m s a n d g r o u nd rents. Lender ma y not charge for so
<br />_ ----- huldlaj and�pplying thu Funds�apalyzing eaid accouat or verifying and compiaing said asseasments end bllls,unless
<br /> _-��;;�� Lender paya 8orrower tntareat on the Fund�and applicable lew permits I.ender to maka such a charga Borrower and
<br /> - ..,�,::�� Lender miy tiroo ia writing at tde time ot eacecution of this Dced of Tr�st that iaxerest on the Fuuds shell be paid
<br /> to Borrower,u�d unleu such�grament !s msAe or epplicable law requires such interest to be paid, ��out charga,
<br /> bo roquired to p�y Botrower aay intarest or eamiag,s oa the Funds. Lender ahall give to Borrower,
<br /> � aq�nnual�aoounnn�of ti�o�ad�shorsi�►B�tal3ss a��"riis m ehe Funds und the purpose for which each debit to
<br /> ��• �ha Funda w�s mode. Tbe Fbnds ua pledged as addidonal security for the sums secured by ehis Deed of Trus�
<br /> I[tho amaunc oP tho F�nds held�by Leader,together witb.the future montWy iastaUanents of F�nds pay�ble prior
<br /> ta tho duo dites of wces.�usessmonta,insuranco psem�was end ground rents,shall exceed tho amouat required to pay
<br /> - - aW ux,oe, a�euments, Inaurenoo premiums end ground rents as they faU due. such excess shall be,at Bonower's
<br /> -- -- — opdon,elthar promptly rcpaid to Bonower or creditcd to Bonower oa monthly instaUmeats of Funds. If t1►e amount
<br /> - ut the Fund+�held by Lendor ahall not bc su�ctent to pay taxes,as.�essn�ents,insurana pntniwns and ground rents
<br />- �u thty !sU duo, Borrower shaU pay to Lander any amoui►t necessary to meke up We de8cienc,y ia one or more
<br /> _� p�ym�nu w Lender may requlre.
<br /> ---- Upon p�yment in Wil nt etl swns se�cured bY chls Deed of Trust,Lender shatl promptty relUad to Sorrowar any
<br /> Fuads hcl�i by Lendcr. It undar parngraph 17 hereof the Property is sald or the Property is otherwLSe aoquired bY
<br /> Lender,i,endar�hsll apply,no later than imroediatcly prtor to the sale of the Properry or its soquis[tion by Lender,
<br /> uny FunQs held by Leadar at tht tlmo of appilcatton as a credit against We sucas secured by tWs Dced oiTrus�
<br /> �,, Appik�tio�o�pa�r�oals. Uales�appflcable law provides otheiwLso,all paynients received by Lender under
<br /> tho Nato Mrn1 pus�r�phs 1 and 2 heroot ei�ll be applied by Lender Srst in payment of amounts payable ta Lender by
<br /> Burn�wcr under p�njnph 2 heroof.thea to latcrest payable on the Nou,and tt►ea to tha principal of the Note.
<br /> � p���p,��ot�(bst;Cbu�ea;I3en�. Bonower shaU perform all of Bonower's obligationa
<br /> � uader�ny murt�►�a,daod of truic or ott�cr sccurtry agreement wich a lien which has pdority over tihis Dad oi Trost,
<br /> Includlp� �rrower'� oovonents to make paymenta wden due. Borrower shall pay or cause to be paid all taxes,
<br /> wrxrmanu rnd othcr chu�ea,fines�nd Impattioas attributablo to the Property which may attein a pdortry over this
<br /> pood ut Tru�b�nd Ieuehald paymants ar gtound rents,it any.
<br /> ..___— s. �{�I�wn�oo, Bc�rrower�tuU laep the improvements now existing or hereafter erected oa the Propetty
<br /> -- ln�urod a�inxt Ic�u by tiro,h�zards included with[n tho tena"oxtended ooverage',and such other haze►rds es Lender
<br /> �- mry rcyulro N�b fn�uch�mounts and for such pedods As Lendar may rcquiro.
<br /> ___'�!� Thn InxurNnuo urrler provldfna the imurance shail be chosen by Borrovwr subject to approval by Leader,provided,
<br /> thu�uch�ppruv�l�hall not bc unrc�wMbly withheld, All insuraace pollciw sx►d renowals thereof shsll be fn a form
<br />_i�;{`� wcurptrbl��o l�ondor wnd whull Include�stanstaM morcgage clausa in favor of and in a form aoceptable to deendd of
<br />--°.�x�� lAndcr Mhrll 1►wvu the rlght ta hold thc polidcs and renewalg thereof,subject to the terms of any mortgage,
<br /> ��'?"`�=;:�,' uw►t ur�►thcr�:cutity eJ�ru:tnunt with a Ilun whtch has pdority ovcr this Decd of Trust�
<br />- � In the event uf iu�u,t9urn�wcr sh�U dvc prnmpt notice tn thd insurance carr[er and Leader. I.ender may make
<br />-.:... . pnx�t ut Ic�u if nc�t mwdo promptiy by Burrarvcr.
<br /> 1��hn i'ruprr�y I�a�an�anCt!by Barrowcr,or if Hnnower faiLs to respond td I.ender within 30 days fmm the date
<br /> . nnUun 1�mrlkv!t►p l�cnder tu B�ttrowcr thot the insuranoe carrier oftera to setde a claim for insurana beneHts,Lendcr
<br /> " � U wu�hutii�l to cullect�nd �pply tho In�unncu prooeeds at Lsnder's optton either to restoration or mps�ir of the
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<br />- " t I:�nr�►wcr �hwll kccp tho Pm�ny In gaod reputr und shall not oommit waste or permit impairment or Ceterioration
<br /> _� �' ��t�hu 1'i�qxrty an0 nhwll�v�mply with the prnvisions uf any lcesc i[thi�Dced of Tcust Ls on a leasehold. If this Deed
<br /> NIi1iMAil1[A 41:t�(1N1)Mtili'IX►A(Ill•IAMI•IMAIAfl41lJMC UNU'UWM IN'JIltUM13I71' E'°��
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