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<br /> " 'I'O(i}?'I'IiI;R with all thn imprcrvementa nc�w ar hnr�efter erected cm the proparty, nnd all eescmcntn, rightn, � ,
<br /> ' nppurtenanccs nnd runte (nubjeet hc�wever to the ri�hte and authorities given herein tc� I.ender to collect end apply such „ _
<br /> rcnt�a),nll ut which shull �;de;emed tc� be and remr►in e pnrt ot th�prope:rty covered by thin Deed of'I'rust; and all c�P the
<br /> .. (or�gning, together with Raid property (�r thc lea�ehold estate if thia Deed c�I '1'rust ie on a leasehold) are her�inafter ••
<br /> refrrred to es the "}'ro�rty." ,
<br /> ' � Horrower covenant�that Aorrower is lawfully scised of the eswte hereby canveyed end hea the right to grant end canvey
<br /> the 1'raperty, und thut the Property is unencumbered except for encumbrances of record. Burrower covenante tl�at : �, '
<br /> �' I Ilorr�wer werrents and will defend generally the title ta the Property againat all claims and demands, aubject to :.�,,-�
<br /> encumbranccs of ru:ord. ;.,, -;
<br /> '�`� UNIFORM COVENAN'TS. Borrownr and I.ender covenant and agrea as tollows: •,�s,,��'
<br /> �,,;,,,,�� 1. Peyment of Principal end Interest. Borrower ahall promptly pay when due the principal and interest :,;�'��>_:.
<br /> , •.,,..,�•�� indebtednesa evidenced by tha Note, including any variationa resulting from changes in the contract rata, and other "•'�_�_-�`
<br /> '� charges es prodded in the Nota. ��
<br /> ' 2. Funds for Tazes and Insurance. Subject to applicable law or written waiver by Lender, Boaower shall pay to �''t
<br /> t �;.,.,�',
<br /> I.�ndcr on the day monthly payments of principal and interest are payable under the Note,until tha Note is paid in full, �i,'i-_ _ __
<br /> s sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments (including condominium and planned --
<br /> unit development assessmenta, if any) which may attain priority over thie Deed of Truat, and ground rente on the
<br /> Property, if uny, plus one-tweltth of the yearly premium inatallments for hazard inaurance, plus one-twelfth of yearly
<br /> �, � premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by ____
<br /> � if,+, I,ender on thc basis of aesessmente nnd bills and reasonable estimates thereof. Borrower ehall not be obligated to make
<br /> � v� such paymenta of Funda to Lender to the extent thnt Bonower makes such paymente to the holder of a prior mortgage
<br /> s� � or deed of trust if such holder is an institutional lender. --
<br /> „ �� � If'Borrower pays Funda to Lender, the Funds shall be held in an institution the deposite or accounts of which are —`
<br /> insured or guaranteed by a Federal or state agency (including I,ender if I.ender ie such an institution).Lender ehall apply
<br /> ' the Funds to pay said taxes, assessments, insurance premiuma and ground rents. Lender may not charge for so holding "���
<br /> � � � and applying the Funds, analyzing said account or verifying and compiling esid essessmente and bills,unless I,ender pays r �
<br /> �s':?-'-7�'
<br /> � Borrower interest on the Funds and applicable law permita Lender to make auch a charge. Borrower and L,ender may _i.�,._--
<br /> agree in writing at the time of execution of this Deed of Trust that intarest on the Funds shall ba paid to Borrower, and =_
<br /> �' unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be required to pay
<br /> Borrower any interest or earnings on the Funds.Lender shall give to Borrower, without charge,an annual accounting ot __
<br /> � the Funds showing credits and debits to the Funda and the purpose for which each debit to the Funde wae mada. 'I'l:e
<br /> Funds are pledged as additional security for the sums secured by this Deed of Trust.
<br /> - '--�� lf the amount oi tha �unds held by Lenaer, together with the fuiure mouilily ii��tailc�ier�ts of Pur�3s pa3ablc �ar�
<br /> '� the due dates of taxes, assessments, inaurance pramiums and ground rents,shall excced tha amount required to pay said
<br /> �� taxes, assessments, insuranca premiuma and ground rente as they Pall due, such axcesa shall be, at Bonower's option,
<br /> ��� either promptly repaid to Bonower or credited to Borrower on monthly inetallments of Funds. If the amount of tha �
<br /> Funds held by Lender shall not be sufficient to pay taxes,assessments,insurance premiums and ground rents es they fall
<br /> due, Borrower ehall pay to 1.ender any amount necessary to make up the deficiency in ona or more payments as Lender
<br /> , may require.
<br /> . �� Upon payment in full of all sume secured by thie De:ed of Truot,Lender shall promptly refu�id tn A�rrower any tunda
<br /> . held by I.ender. If under paragraph 17 hereof the Property id sold or the Property is othe;wisa ecquired by I,ander,
<br /> � � L.cnder ehall apply, no later than immedietely prior to the sale oP the ProFerty or ita acquisition by I..ender,any Funda
<br /> held by I.ender at the tinse of application as a credit against the sume secured by thie Deed of Trust.
<br />- :°••' 3. Application af Payments. Unless applicable law provides otherwise, all payments received by L.ender undor tha
<br /> Nate und paragraphs 1 and 2 hereof shall be applied by Lender firat in payment of amounte payable to Lendcr by.
<br /> .� Borrower under paragraph 2 hereof,then to interest payable on the Note at the applicable contract rate,and then to the
<br /> " . principal of tha Note.
<br /> 4. Prior MortEagos �nd Deeds of "I'rust; Chargea; Lions. Borrower shall perform ell of Borrower's abligatione
<br /> . under any mortgage, deed of trust or other security agreement with a lien which hes priority over this Deed of Truat, -
<br /> including Borrower's covenanta to make payments when due, Borrower shall pay or cause to be paid all taxes, =-
<br /> ,;,, assessments and other charges,fines and impositi�ns attributable to the Property which may attain a priority over this -
<br /> ��' Deed of Trust,and leasehold payments or ground rents,if any.
<br /> 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br /> '� inaured against loss by fire, hazards included within the term "extended coverage," and euch other hazarda as I.ender _
<br /> � may require and in such amounts and for such periods as Lender may require. _-
<br /> ' The insurance carrier providing the inaurance shall be chosen by the Borrower subject to approval by Lender, `��`'-�
<br /> provided,that such approval shall not be unreasonnbly�vithheld.All inaurance policies and renewals thereof shall be in a ���=-
<br /> � form acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to I.ender. _-- _
<br /> Lender shall have the right to hold the policies and renewals thereof,subject to the terms of any mortgaga, deed of trust ��:�r�
<br /> or other security agreement with a lien which has priority over this Deed of Trust.
<br /> xn the event of loss, Borrocver shnll give prompt notice to the insurance carrier and I,ender. Lender mny make proof �
<br /> of loss if not made promptly by Borrower.
<br /> Unless I,ender und Borrower othenvise agree in writing,insurance procceds shall be applied to restoration or repair of
<br /> the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened.If the
<br /> restoration or repair is not ec;onomically feasible or I.ender's security would be lessened,the insurance proceeds shall be ';
<br /> applied to the sums secured by�this Security Instrument, �vhether nr not then due, with any excess puid ta florrower.If
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<br /> - ' �- - � ISOffONCP 8b8I1QOi15 LRC YfOPCf[y, or aoes not nnswer wir.mn�v oays a noucc uum i.cuua ��ia� u�a.IIIOUI6libN bOtll�.t uoo - - - �
<br /> offered to settle a claim, then i.ender may collect the insurance proceeds. I,ender may use the proceeds to repair or
<br /> restore the I'roperty or to pay sums secured by this Securit}• Instrument, �vhether or not then due. 'I'he 30'day period will
<br /> i begin �vhen the notice is given.
<br /> I If the Property is abandoned by Borrower, or if Borrower fails to rc;spond to I,ender within 30 days from the date
<br /> 1 notice is mailed by I,ender to Horrower that the insurance carrier offers to settle a claim for insurance benetits,Lender
<br /> is authorized to collect and apply the insurance proceeds at I,ender's option either to restoration or repair of the
<br /> I'roperty or to the sums secured by this Deed ot'Trust.
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<br /> 1 OB•30•84 Docd ol Truet N8 ORIGINAL II�IIIIIIIIII�IIIIIIIII�IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII�IIII�IIIIIfIII�IIIIIII�lllllllll�ll�l NE007917
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