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<br /> ; 98�— 1,1,�L� (Pa=e 2 of S) .
<br /> 'TOCr}?'TH�R.with dl the improvaments nnw or hera[ter erected on the property, and all eeisements, righte,
<br /> appurtenances and rente (subjxt however to the righta tnd�uthnritiee givon herein to Lender to collxt end epply auch
<br /> ranta),all ot which ehdl be deomed to bo and rem�in a part of the pr�perty c�vered by thie Deed of'Trust;and all of the
<br /> forogoin�, together with �id ptoperty,(c� tho letsehold eateto it thie I�d of Truet ie on e leasehold) dre hereinefter
<br /> retorred to aa tho"Property."
<br /> }3orrower covonanta thRt Horrower ie Iswlully seised ot tho esu+te hereby conveyed and hes thc right to grant end convey
<br /> the Property, end th�t the Property is unencumbered except tor encumbrunce� of rxard. 13orrow�r covensnt� that
<br /> 13orrower warrants and �vill de�end generally the titlo to the Property agninst nll claims and demands, oubject to '
<br /> oncumbrancea�t record. ,
<br /> UNIFORM CO�'BNANTS. Aorrower end I.ender covcnent and agree as follnws:
<br /> 1. Payment ot Prlacip�l �nd Intereet. Borrower ehall promptly pay when due the principal and interest
<br /> indebtednesa ovidenced by tho N�te, including �ny vsriatione resultinq from chenges in tho contrect rate, end ather
<br /> chnrges as provided in tho Nou,
<br /> 2. Puad� for T�xee and Ineurance. Subject to appliceble law or written waiver by Le�dgr, BorrQwer eh�ll pny to
<br /> Lender on the day monthly paymente of princip+l and intereat ere payable under the Note,until tha Nbte iR peid in full,
<br /> n sum (herein "Funde"� equal to one-tweltth of tho yearly taxes and e.s�essments (including condominium end plenned
<br /> unit devolopment assessments, if nny) which may attein priority over thie Dxd of Trust, and ground rents on tho
<br /> Property, it any, plua ono'twotfth of the yarly premium instellments for hazerd insurance, plu� ono-twelfth of yearly
<br /> premivm inacallmente f�r mortgage insurance, i[ any, nl!ea reaeonnbly estimeted initially and iram time to timo by
<br /> I.cnder on the basis of asseasm�nte and bille and reasonsble eatimntes thorao4. Borrower ehell not be obligatod to mske
<br /> such paymenta of Funda to Lender to tha extent that Borrower makes such paymente to the holder of a prior mortgage
<br /> or dee,d of truet ii such holder ie an inetitutionel londer.
<br /> If Borrower pays Funds to Lendcr, the Punda ehall be held in an inetitution the deposita or acwunte oi which ere _
<br /> inaured or guerantood by �Federal or etete egency (including Lender if Lender ie such an inatitution).I.ender ehall apply
<br /> the Funde to psy seid tnYa+, assesements, insurance premiume nnd ground renta. Lend�r mey not charge for eo holdin�
<br /> and applyin�the Funds, anelyzing said account or veritying and compiling said essessments nnd bille,unleas T.endec paye _
<br /> Borrowec interest on the Funde and applic�blo lnw permite I.ender to make such a cherge. Borco�vee' and L.er►der m�y
<br /> egroa in writing at the time of oxecution of thie Deod of Trust that interest on the Funde shall be peid to Bonow�r, nnd
<br /> unless such egrament is made or epplicablo law cequires such interest to be paid, Lender ohall not be required to pay
<br /> Borrow�r any inurest or earnings on the Punds.T.ender ehell give to Borrower,without cherge,an annunl accounting ot
<br /> the Funda ehowing credite and debita to the Funds and the purpose for which euch debit to the Funds Nas mede. Tho
<br /> Funda urc�ia3gc3 ss«�idit:c�:�.:..u:ii�for!ha 9uZrig°^rUC��I L+y!hi9 Tkr.ri nf Truat.
<br /> If the smount of the Funde held by L,ander,together aith the future monthly inetallmanta oi Funda p�yable prior to
<br /> the duo da�tea of taxes,assessmenta,inaurance premiume and ground rents,ehnp e:coai tho smount roquired to pwY eaid
<br /> ta:es, aeaesemente, insurance premiume and ground rente as they fall duo, s�xh exceae shall be. at Borro�er'e option,
<br /> cithec promptly repeid to Borrowa or creditc�d to Borrower on monthly inetallments ot Funda. If the amount of the
<br /> Funde held by Lenda ehell not be eu[ficient to pny taxes,essessmenta,ineurance premiume and ground rentr�as they tall
<br /> due, Bocrower ehall pny to L.ender eny emount neceasary to make up the deticiency in one or more psymen�e as Lender
<br /> may requiro,
<br /> Upon payment in full of all sume secured by thie Iked of Trust,L,ender ehall promptly refund to Borrower any funda
<br /> held by Lender. If under paragraph 17 hereof tho Property ie sold or the Property ie otherwi�e ecquired by Lendec'.
<br /> Lender ehell apply, no later then immafiately prior to thc sale of the P:operty or ite ecquisition by Lender,any Funda
<br /> held by Lender at the time of tpplication ae a credit againet the�ume secured by this Dood of Trust.
<br /> 3. Applicatioa ot Paymenta. Un1esR applicable law provides otherwise, all p�yments receivod by I.enda undar the
<br /> Note and peragraphs 1 and 2 hereof eha11 be epplied by Lendor first in payment ot amounte pnyablo to L.ender by
<br /> Bonowa under paragraph 2 hereof,then to intertst payable on the Note at the applicablo contract rate,and then to the
<br /> principal of the Note.
<br /> 4. Prior Mortra�es �nd Deede oi Truat; Char=es; Lions. Bonower ehell perform all of Borrower's obligstione
<br /> ander any mortgage,doed ot truet or other security agram�nt with a lien which hea priority over thie Docd ot Trust,
<br /> including Borrower'e covenents to mnke paymants when due. Borrower ehall pay �r cause to be paid all taxes,
<br /> a�ments xnd other cherg�s, tines and impositions attributable to tho Property which may�ttain a pcic�rity over this
<br /> Deed ot Trust,and leasehold puymcnte or ground ronts, i[any.
<br /> S. H�z�rd Inaur�ace. Borrower ehall keep the improvementa now exieting or herutter erected on the Proporty
<br /> inaur�d againat loss by fire, hnzsrds included within the term "extonded coverage," and euch other hazards as Lender
<br /> may requiro and in euch emounts and for euch periods ea Lender may require.
<br /> The insuranca cerrier providing the insurance shall bc chosen by the Borrower subject to approval by Lender;
<br /> , provided, that such epproval ehatl not be unreasonably withheld. All ineurance policiea and ronewals thera�f shall be in a
<br /> form acce:ptnble to Lender and shell include a etendard mortgaga cl�use in favor of and in a form ecceptable to L.ender.
<br /> Lender shalt have tho right to hold tho policiea end renewals thereof,eubject to the terme of any mortgnge,dced of trust
<br /> or other security egreement with n lien which has priority over this Deed of Truat.
<br />_� In the event of loss, 8orrower ehall give prompt notice to the insurance carrier and Lend�r. L,ender may make proof
<br /> � of loss if not mede promptly by �3orrower.
<br /> '- Unless L,ender and I3orrower oth�rwise egra in writing, insurnnco procxds ehell be applied to restoration or repair of
<br />-� the Property damaged. if the restoration or repair is economically teasibla and Lender'�security is not lessenecl. If the
<br />�� restoration or repair is not economically feasibla or L.endcr's security would be less�ned,tha insurence proceeds ehell be
<br /> _..,:�a .,..ae o�,..�.o����P.�hv thia Securitv Instrument.whather ar not then due, with any excess paid to 13orrower. If
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<br /> 13orrower abandons the Property,or does not anRwer within 30 days a notice from L,ender xhat the insurance carrier has
<br /> offered to settle a claim, then T,ende; may collect the ineursnce proccede. Lender may use the procxde to repair or
<br /> restorc the Property or to pay sume secured by this Sa:urity Inetrument,whether or not then due.'The 30'dny period will
<br /> begin when the notica ie given. -
<br /> If the Yroperty ie abandonocl by Borrower,or if 13orrower fails to respond to i,ender within 30 deys from the date
<br /> notice is mailed by L,ender to Borrowor that the insurance cerriec offere ta settle a claim for insurance benefits, I,ender
<br /> ie authorized to collect and apply the insurence procceds at Lender'c� optinn either to restoretion or repair of the
<br /> 'Y� Property or to the sums secured by this Dced of'Truat.
<br /> � OE•JO•94 D��d of Tru�t NE ORIGINAL I��������������������� NE007�2i
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