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<br /> ,�.v�f'� 3TBVSN A COLLT3TSR DIANNB � COLLIBT$R . ' 4905794 11/04/1997
<br /> `=-�� UNIFORM COVENANT3. Honower and Lender covenaut aad agrce as follows: 9���U���
<br /> �^�'�' 1. Pxyment of PrincipaE �und Intereat. Borrower shali pmmptlY paY whea duo the priacipal nnd Ipterest
<br /> '�"�` indebtedu�ss evid�nced by tUr.Nate and late clsarges as provided ia tbe Notc.
<br /> •�"` �� 2.F�nds tor Texa and Lnurance. Subiect to Applicatble law or a wdtten witiver hy L.eader,Bor[ower shall pay to °
<br /> ���'^� Leadcr on the dty roomdly pnyaunts of pdtxipal and ipterest an payable uader the Note,undl tlu Nnte is paId in full,A -
<br /> � suru(derein "Fuads') equal to one-twelfth of tbe yauly twces aud�essmeuts(iucluding co�xlomiuiwu and pls�naed unit
<br /> �?�- development assessments, if any)whlcu u�y a�txin prlodty over this Deed af Tnist,and�rou�xl rents ou the Praperty.if -
<br />_.T�_,��-�i anY,plus one-nveifth of yearly pnmium iastailnxats forha�rd insvrmce.plus one-cweltth of yauly pn�ulwu iastailments r
<br /> ------ ? for mangage insutance, if nny. all Ts rensonahly esdmated in3tially ar�d from tink to dme by L.euder on the basis of
<br /> �� assessments w�d biila stnd re�somble esdautes tdoreof. 9onower sWll not be obligttod to m�lce such paymenta of Funds
<br /> to L.ecder to tbe extent that Barrower ttukes such p�ymeats to the halder af a ptIor mortgage or deect of uust if snch holder
<br />- �„- is An lastitutiantl lender.
<br /> :Ge�� If Borrower p�ys Funds to Lender. the Fupds s1W1 be hsid inau tnsdtudon the dcposits or accounts of which are
<br /> %-=*�� iasured or guannteed by a Federel or state sgeacy(including Leader if I.ender is such sw iasdtudon), l.ender stnll apply
<br /> �""��� the Funds to pay sald toxes.assessmepts.insur:mce pnmlwns and ground rents.Lender may not cl►Arge for so holding and
<br />----- aPPlyiDB the Funds, amlyzing said accouat or ve�ifylag And complliag said �ssessrnepte and�ilis. ualess Lender pays
<br /> - -� Borrowec interest oa ttie Funds and applicable lAw pern�its Lender to make svch a chuge.Borrower and Lender may Agcee
<br /> ---= ip wcIdag at tla tlme of execudon of this Deal af Tcust thAt Interest on the Funds s6a11 be paid to Borrower.and unless
<br />----�- such agreeinen�Is mAde or appllcable law requins such intenst ro be paid,Leader stixll not be required to pay Bonower
<br /> any interest or eanJngs on the Puads. I.ender yhall give to Borrower,wlthout charge.an annwl accoundug of the Fuads
<br /> shovv�ng credits and deblu w the Funds and the purpose for which each debit to the Funds was made. The Funds are
<br /> �� pledgal s�.s tuldidonal security for the svms secured by chis Dxd of Trust.
<br /> If the amount of tde Fw�ds held by Lender.together wIth t6e funue mont6l;iastallments of Funds pxyable pdor to
<br />----; the due dates of tax�s.assessm.ents. insurance pnmiums aad grawd renrs.sbaU exceed tt►e am�nuat required to pay said
<br /> -� taxes, assessmnts,insura�e pnmiva�s aad ground nats as they �Il due, such excess s1�U be. at Borrower's opdon,
<br />_�-��e�a eitUer promptly repaid to Bonower or credIted�o Boaower on monthiy instnllments of Fwds. If tt�amount of tbe Fuads
<br /> .u.-- 6eld by L.euder sl�ll not be sufficlent to pay taxes. assessment�, �nSUrance pnmiums nnd ground rents as they fall due.
<br /> - Borrower shaU�y to Lesnder any amount necessuy to maice up the deficieucy in ope or mon payzaencs as Lcnder may
<br /> __ - rcquin.
<br /> - - Upon payment in full of aU sums se�ured by this Dxd of Tmst,I.endcr s1�U promptly refund to Borrower any Funds
<br /> held by Lender. If under ppragrnph 17 hereof the Pcnperty Is sold or the Property is othenvise�cquired by Lender. I.ender
<br />___ sha11 Apply, no lxtor than imttxdiauty prlor to the sale of the Pco�ecty ar its acquisidc,u by Lender,aay Funds held by
<br /> Lender at tLe time of appliauion as a crodit�g�i�t the sums secured by this uoed of i n�sc.
<br /> 3. Appliatlon ot Payments. UNess applicable law provides aherwLse.all p�yments received by I.��ec under the
<br /> — Note and p�ragr.►p6s 1�nd 2 hcreof shall be ap��lled by Lender fust in payment of amounts pay�ble to Lender by Borrower
<br /> wsder paragraph�hereof. tlua to interes�t payAble on the Note. and t6en to the principal of the Note.
<br /> 4. Prlor Matp�CS and D�ed+ot Tnmt; Cluir�est u�. ���r � P��orm all of Borrower's obligadons
<br /> under any mortg�ge, deed of trust or atLer securtry�g�+eement wIth a llen whtch has prlorIty over this Dad of Tmst.
<br /> includIpg Borrower's covenwts to make pqments wt�ea due.Boaower shnll pay or cause to be paid All taxes.,��nts
<br /> aad other charges,fines and Imposidons atuiMiable to the Property which ao�ty atq�in a priodty over this Deed of Tnut.
<br /> and le�sebold p�yments or growid nnts.if vny.
<br /> S. Haard Insuru�ce. Bortower shall keep tlx improvemena now existing or heteafter ecected on the Property
<br /> iasund�g�i�t loss by fin.haruds included N�Ithin the term "oxtended coverage".and such other Lsranls ns Lender may
<br /> requlte and la s�rch t�ounts uid for svch pedods as I.ender may requi[e.
<br /> The imvr�nce c�enier provtding tLe imvnmce slvll be chosea by Bortower subject w approval by Lender;provlded.
<br /> tbat such rpprov�l slvll not be unre�sombly wlthheld. AU insuruce pollcies wd nnewaLs Weroof shall be in a form
<br /> accepqble w Lender u�d s6a11 include A standu�d mortgage clause in favor of and in A form acceptable to Lender. Lenckr
<br /> shall have the ri86t to hold the poUctes aad crnewals thereof. subjoct to tLe tetm�of aay mortgage.deal of uust or other
<br /> socurlty s►grawtnt with a lien which has priorIty over this Deed of'I'tust.
<br /> � In the event of Yoss. Bornower shall give prompt aodce to the insucnnce eurier and Lender. L.ender mty m�lce proof
<br /> of loss if not rowde pmmpdy by Horrowar.
<br /> If the Pcopecty is abaadond by Bnrrower.or if Borrower fails ta cespoud w Lender within 30 days fmm the due
<br /> -= uotice is m�ailed by Leader to Borcower that the insurance carrier offers ro settle a claim for iasurnnce be�fits.Lender is
<br /> -�--= author�id to collxt �nd apply t6e insurance proceeds u Leuder's optioa either ta cestoradon or repair of tLe Pm�perty or
<br /> to the sums stcured by this Deed of Tn�st.
<br /> =„� 6. Preser�aHo�n�nd M�tinte�ncc of PropeKy; Lauehold+; Condomtnfum�; Pf�med Unk De�elopntents.
<br />--",�;�- Bonow�r stu�ll kap t6e P►nperty in good repatr and sl�all not commit waste or pemnit impairaunt or deurloruion of the
<br />---_- - Propecty and ahall comply with the provisions uf any lease if this Deed of Trust is on a leasehold.If this De�d of Trust is
<br /> - - on a unit in a condominium or a planned un[t develvpment,Bvrrower shlll perform a11 of Bo�mwer's obligadoag twder the
<br />��,�>. declaradon or covenaats cre�dng or goveraing che candominium or planned unit development.the by-taws 4nd regWadons
<br /> ��'�"�r'' of the condom[nium or planned unit development,and consdtuent documents.
<br /> � �"' 7. Protation ot Lender's Security. If Borrower fails to pecform the covenwts and agnements cont�ined in this
<br /> � � Deed of Tnut,or if any action ar proceeding is commenced wh[ch tmterially affiects I.ender's taterest in che Proptrty.then
<br /> •_„�i9e• • l.ender. at Lemder's option, upon nc�dce to Borrower. may make such appeazances, disbucse such sums, including
<br />_ r�•„ .: reasonable attorneys' fees.aact take svch acdon as is necessary to protect Lender's interest. If Lender requiced mortgage
<br />:°,.�a�;. ti insur�nee as a condition of making tLe loou►sa.�ured by this Deed of Tmst. Bonower shW pay t6e premiumc roquircd w
<br /> .` `'"-�;• matntain suc6 i�urance in ct�ect undl such dme as the reyuirement for such insvrance tecminates tn aocoitiance wita
<br /> � Bocrower's and Lender's written agreement or applic�ble liw.
<br /> s i My amouucs d+sbu:sed by I.ender pursv�u�t ro this paragraph 7, wIth interest thereon.at the Noie rau.sl�all become
<br /> ' ' � '• addidnn�l indebtedness of Borrower securcd by this Dad of Tcust.Ualess Bormwer and Leader agree tu wher terms of
<br /> payment. such amounts shall be p�yable upon uodce froni Lender to Borcower requesting payment thereof. Nothing
<br /> " contatned in this pu�graph 7 shall require L.ender to incur any expet►�e or take ony accion hereunder.
<br /> 8. L►spoctlon. Lender may m�1ce or cau�e to be made reasooable entries npon and inspecdon� of the Property,
<br /> ; : � provided th�t Leader shall give Borrower nodce prior to any such i�pecdon specifying reasonable cause therefor nlated to
<br /> . l.ender's interestin the Property.
<br /> ,• Nebnat.26876-3 iro� Osiginsi(Rseordad) Copy(Branch) Copy(Cu�to=�r) P.ge 2 ofS
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