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<br />TOGETHER with all the improvements now or hereafter erected
<br />appurtenances and rents (subject however to the rights and authorities : iv (Page' 2 of 1
<br />rents), all c which shall s deemed to be and remain a part en the. `property, and all easements, rights,
<br />g en herein to Lender to collect and apply such
<br />foregoing, together with said property P t of 'the property covered by this Deed of Trust; and all of the
<br />referred to as he "Property." p P Y (or the leasehold estate if this Deed of Trust is on a
<br />Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed leasehold) are hereinafter
<br />the Property, and that the Property is unencumbered except for encumbrances
<br />Borrower warrants and will defend generally the title to the Property a Y d and has the right to grant and convey
<br />encumbrances a record. of record. Borrower covenants that
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as gainst all claims and demands, subject to
<br />1. Payment of Principal and Interest. Borrower shall Promptly follows:
<br />indebtedness evidenced by the Note, including any variations resulting from c
<br />pay when due the principal and interest
<br />charges as provided c the Note, changes in the contract rate, and other
<br />2. Funds for Taxes and Insurance. Subject to applicable
<br />Lender on the day monthly payments of principal and nterest are payable under b
<br />a sum (herein "Funds ') equal to one-twelfth of the yearly taxes and assessments (including Y Lender, Borrower shall pay to
<br />the Note, until the Note is paid in full,
<br />unit development assessments, if any) which may attain priority over this Deed f Trust, condominium and planned
<br />Property, if any, plus one twelfth of the earl
<br />premium installments for mortgage insurance, if any, all as reasonably estimated of Trust, and ground rents on the
<br />yearly premium installments for hazard insurance, plus one - twelfth of yearly
<br />Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />such payments of Funds to Lender to the extent that Borrower makes such ed initially and from time to time by
<br />or deed of trust if such holder is an institutional lender. Borrower shall not be obligated to make
<br />If Borrower pays Funds to Lender, the Funds shall be held in an institution payments to the holder of a
<br />Prior mortgage
<br />insured Borrower
<br />guaranteed by a Federal or state agency
<br />the Funds to pay said taxes, assessments, insurance premiums and ground rent the deposits or accounts r which are
<br />g Y (including Lender if Lender is such an institution).
<br />and applying the Funds, analyzing said account or verifying and compiling said ass )Lender shall apply
<br />Borrower interest on the Funds and applicable law nts. Lender may not charge for so holding
<br />agree in writing at the time of execution of this Deed of Trust that interest on the Funds ments and bills, unless Lender pays
<br />unless such agreement is made or applicable law require permits Lender to make such a charge. Borrower and Lender may
<br />Borrower any interest or earnings on the Funds. Lender shall give to Borrower, i shall be paid to Borrower, and
<br />s such interest to be paid, Lender shall not be required to pay
<br />the Funds showing credits and debits to the Funds and the Purpose
<br />Funds are pledged as additional security for the sums secured by this Deed of T' tthout charge, an annual accounting of
<br />If the amount of the Funds held by Lender, together with Phe for which each debit to the Funds was made. The
<br />Trust.
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall e
<br />taxes, assessments, insurance premiums and ground rents a future monthly installments o Funds payable prior to
<br />either promptly repaid to Borrower or credited to Borrower they
<br />monthly installments the amouni- required #o a
<br />s they fall due, such excess shall be, at Borrower's option,
<br />Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance
<br />due, Borrower shall pay to Lender any amount necessary to make up the deficiency of Funds. If the amount of the
<br />may require, premiums and ground rents as they fall
<br />Upon payment in full of all sums secured by this Deed of Trust, he
<br />shall cy in one or more payments as Lender
<br />held by Lender. If under paragraph 17 hereof the Property is sold or the Pro
<br />Lender shall apply, promptly refund to Borrower any funds
<br />PP y, no later than immediately Property is otherwise acquired b
<br />held by Lender at the time of application as a credit against the sums secured b
<br />y prior to the sale of the Property or its acquisition by Lender, any Funds
<br />3. Application of Payments. Unless applicable law provides otherwise, all a
<br />Note and paragraphs 1 and 2 hereof shall be a Lender Y this Deed e Trust.
<br />Borrower under paragraph 2 hereof, then shall e applied n the ir Note the payments received y Lender under the
<br />principal of the Note. payment of amounts payable to Lender by
<br />4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall contract rate, and then to the
<br />under any mortgage, deed of trust or other security agreement with a lien which
<br />including Borrower's covenants to make a 11 Perform all of Borrower's obligations
<br />assessments and other charges, fines and impositions attributable to the pro has priority over this Deed of Trust,
<br />payments when due. Borrower shall pay or cause to
<br />Deed of Trust, and leasehold payments or ground rents, if any, be Paid all taxes,
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing tY which may attain a priority over this
<br />nsured against loss by fire, hazards included within the term "extended coverage, "
<br />nay require and in such amounts and for such periods as Lender may require, or hereafter erected za the Property
<br />The insurance carrier providing the insurance shall be chosen b g ' and such other hazards as Lender
<br />rovided, that such approval shall not be unreasonably withheld. All insurance Policies
<br />arm acceptable c Lender and shall include a standard mortgage withheld.
<br />cla Y the Borrower subject to approval pp oval by Lender;
<br />ender shall have the right to hold the policies and renewals thereof, subject to the t and renewals thereof shall be in a
<br />use in favor e- terms f form rtg
<br />r other security agreement with a lien which has priority over this Deed of Trust, acceptable to Lender.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier erms of any mortgage, deed of trust
<br />loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall nd Lender. Lender may make proof
<br />e Property damaged, if the restoration or repair is economically feasible and Le
<br />storation or repair is not economically feasible or Lender's security would b 11 be applied to restoration or repair of
<br />plied to the sums secured by this Security Instrument, whether or not then due, Lender's security is not lessened. If the
<br />plied r abandons the Property, or does not answer within et days a of t a lessened, the insurance proceeds shall be
<br />'erect to settle a claim, then Lender may collect the insurance proceeds. Lender m with any excess paid n Borrower. If
<br />tore the Property or to pay sums secured by this Security Instrument notice from Lender that the insurance carrier has
<br />nder may use the proceeds to repair or
<br />;in when the notice is given. , whether or not then due. The 30-da
<br />If the Property is abandoned by Borrower, or if Borrower fails to respond to Y Period will
<br />ice is mailed by Lender to Borrower that the insurance carrier offers to settle a
<br />Lender within 30 days from the date
<br />authorized to collect and apply the insurance proceeds at Lender's option either claim for insurance benefits, Lender
<br />perty or to the sums secured by this Deed of Trust.
<br />either to restoration or repair of the
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