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<br /> . I �IYage �of 5) �.�.u��.;--. `
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<br /> 'I'OGF?'I'tiF?R with all the improvementra now or herea(ter erected on the prop�rty, and all eer>ementa, right�, ,�t,.�._Z,
<br /> � nppurtenances end rents (subject hnwever tc� the righte and authoritie.q given her�in to I.endar to collect und apply such , __ _
<br /> I rente), all of which �hall be deemed tc�be end remsin a part of tha pro{x:rty covered by this lleed of'I'rust;and all of thc _
<br /> foregc�ing, tagether with eaid �roperty (c�r the leasehold estate if thie lleed ot'I'ruet ie on a lensehold) are hereinafter t,�,..
<br /> reterred to aA the"}'roperty." ;,,'`
<br /> Horrower covenan�g 4hat Borrowcr is luwfully �eir,ed of the estate hereby conveyed nnd has the right to grant and convey
<br /> the 1'roperty, and that the f'roFerty is unencumbered except for encumbrancea of record. Aorrower covenants that ; `," '-''
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<br /> Rorrower werrants enc� will defend generally tho title to the I'roperty against all claims and demands, subject to _
<br /> encumbrances of record. ��� �;._
<br /> � UNIFORM COVENAN'fS. IIorrower and I.ender covenant and agree es foUows: t.
<br /> -�*r""""��t i.Payment of Principal and Interest. Horrow�r shall promptly pay when due the principal and interest �
<br /> `"'°"'�; indebtedness evidenced by the Note, including any variationa resulting from changes in the contract rat�, and other =��`-
<br /> � charges es provided in the Note. . ."..1
<br /> �' 2. �unds for Taxes and Insurance. Subject to upplicable law or written Naiver by I.csnder, Borrower shall pay to ' ��T____
<br /> � Lender on the day monthly payments of principal and interest are payable under the Note, until the Note is paid in full, ,....'�_
<br /> .•1 a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments (including condominium and planned ��;
<br /> : � unit development asses�ments, if any) which may attain priority over this Deed of Trust, and ground renta an the �.,
<br /> Property, if any, plua one'twelfth of the yearly premium inetallmenta for ha�ard insurance, plus one-twelfth of yearly
<br /> " ��;'� ___p remium inatallments for mortgage insurance, if any, all ae reasonably estimated initially and from tima to time by ��w
<br /> .�' Q'i.ender on the basis of asses.gmenta and bills and reasonable estimates thereoY.Borrower shall not be obligated to make _
<br /> .;' �auch pRymente of Punds to I..encicr w the extent that Aorra�ver make9 such paymants to the holder of a pri�r mortgage �_ _
<br /> �" �or deed of truat iP euch h�ldor is an institutional lendar. --
<br /> If$orrower paya Funda to Lender, the Funde ehall be held in an inetitution tha depoaits or accounta of which artl
<br /> �inaured or guaranteed by a Federel or state ugency (including I.endcr if I.ender is Fuch an inetitution). L,ender Ahall epply =
<br /> _� the PundR tc� pay �aid texes,aes�.gments, ineurance premiume and grc�und rent». Ixnder mey nnt charge (c�r r,o holdinq �
<br /> �anc�applying the l�unde,analyr,ing Ssid account or vcrifying and compiling Raid e�.se.�.9mnnts end billn, unl�sv I,cnder{�ayA �:-
<br /> �Horruwer intarest �n tha (�unde end epplicable lnw permite l.endur to maktl fiuch a chargo. 13orrc�wcr and I.endar mny :—
<br /> � egrcc in writing at thu time o4 executicm ��t thie l��d c�t'1'rust thet irrterest on tha 1'undo Ahall �e peid to Burrowcr, and e'-
<br /> .. unle.s9 such agreement ie made c�r opplicuble law rcyuires euch interest cc� be;paid, I.ender Ahall not be required to pay 6�`
<br /> � Ilorrow�r a:►y intere.gt or enrnings on the Irunds, I�:nd�r ahull giv� to Horrowor, without charge,an ennual sccaunting ni "'
<br /> the l�unda.shc�wing credit� and dabite to the I7unds and the purpe�se tor which each debit to the 1'unda was made. '1'ha
<br /> - --.. _—� 1'an3s ars ptr,dgc,3 a�add�tional ;e;u:it, .°o:the sums:.�:�arsd b�this L�d c�f Tr�!st. _
<br /> It the amount of the Hunds held by Lender, together with the futura monthly in�stallments of Funde payable prior tq
<br /> the due dates of taxes,assessments, insurance premiuma and ground rents, shall exceed the amount required to pey said
<br /> taxes, assessments, inauranca premiums and �round rents es they fall due, euch excess sball be, at Borrower's option,
<br /> either promptly repaid to Borrowar or credited to Borrower on monthly installments of Funds. If the amount of the ���
<br /> • Funds held by L,ender shall not be sufficient to pay taxes,assessments,insurance premiums and ground rents as they tall
<br /> due,Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as Lender
<br /> may require.
<br /> Upon payment in full of all eums secured by this Deed of Trust, L.ender shall promptly refund to Borrower any funds
<br /> held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise ecquired by Lender,
<br /> ' l.ender shall apply, no later than immediately prior to the sale of the Proporty or its acquisition by Lender,any Funds
<br /> held by I,ender at the time of application as a credit ugainst the sums secured by this Deed of Truat. �
<br /> �' 3. Applicatioa of Payments. Unless applicnble law provides otherwise, all payments received by L,ender under the __
<br /> � Note and paragraphe 1 and 2 hereof ahall be applied by Lender firat in payment of amounta payable to Lender by _
<br /> Borrower under paregraph 2 hereof, then to interest paynble on the Nota at the applicable contract rnte,and then to the �,_
<br /> � principal of the Note. _Y
<br /> 4. Prior Mortgages and Decds of Trust; Chsrges; Liens. Borrower shell perform all of Borrower's obligationa
<br />= �j under any mortgage, deed of trust or other security agreement with a lien which has priority over this Deed of Trust, ��_� __
<br /> t, ', including Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid all taxes, _
<br /> -• essessmente and other charges, fines and impositions ettributable to the Property which may attain a priority over this -
<br /> � Deed of Trust,and leasehold payments or ground rents,if any. �y
<br /> . 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property �`—
<br /> . insured against loss by fire, haznrds included within the term "extended coverage," and euch other hazards as I.ender -
<br /> � may require and in such amounts and for such periods as I.ender may require. --.- ___
<br /> The insurnnce carrier providing the insurance shall be chosen by the Borrower subject to approval by Lender; `;�:�
<br /> provided,that such approval shull not be unreasonably withheld. All inaurance policies and renewals thereof shall be in a ��'�_��_
<br /> form acceptable to I,ender and shall include a atandard mortgage clause in favor of and in a form accepiable to I.ender. --__--
<br /> Lender ehall have the right to hold the policies and renewals thereof,subject to the terma of any mortgage, deed of trust ��:y;-R-
<br /> or other security agreement with u lien which hes priority over this Deed of 'Trust. •"r:
<br /> In the event of loss, Horrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof `
<br /> of loss if not made promptly by Borrower.
<br /> Unless I,ender and Iiorrower otherwise agree in writing, insuranee proceeds shall be applied to restoration or repair of �
<br /> the Property damaged, iP the restoration or repair is economically feasible and I,ender's security is not lessened. If the
<br /> restaration or repair is not economically feasible or I.ender's security would lx: lessened, the insurance proceeds shall be l
<br /> ._ . ....Co.i a. ♦1..,eu.v.o cw•nrwl hv t}iia Cw•uritv inat�nmant whvthNr nr nnt TF1Pf1(�11P Wit}7 AOV P.YCP_SS naid tn Rnrrotver. if [� �
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<br /> Horrower abandons the Yroperty, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br /> offered to settle a claim, then l,ender may collect the insurance proceeds, l,ender may use the proceeds to repair or
<br /> restore the I'roperty or to pay sums secured by this Security Instrument, whether or not then due.'I'he 30'day period wi11
<br /> begin when the notice is given.
<br /> If the Propc;rty is abandoned by Borrower, or if }iorrower fails to respond to I,ender within 30 days from the date I
<br /> : notice is mailed by I,cnder to }�orrower that the insurnnce carrier ofters to settle a claim for insurance benefits,Lender I
<br /> is authorized to collect and apply the insurance procr.eds at I,ender's option either to restoration or repair of the
<br /> , � Prc�perty or to thf: sums secured by this I�eed uf"I'rust. I
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<br /> , 06•30-94�ood of Trwt YE ORIGINAL IIIII�IIIIII(IIIIIIIIIIIIIIIIII�IIIIIIII��IIIIIII'IIII�IIIIIIIIIIIIIIIII1IlIIIIIII�I�IIIIIIIIIIIII NE007942
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