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<br /> ` ¢ An rider ("Rid�r") wttached hcreto wnd executed ot even date LS Incorporeted hertin and the covenant and �,`,
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<br /> agreements ot the Rlder shall amend and supplement the covenants and�-grecments o!thls Iked of Trus�,as lf the
<br /> _ � Rlder were a piu-t hereof. �`
<br /> K i Horrower covenants thzt Bonower is lawfully seizcd of the estate lie:eby ronveyed and has the right'to grant and comey c;�
<br />���}�s� the propeny, and that�he Property is unencumbered, except for encumba�einst allrclaims an rdemands,�e ubjectt�to
<br /> Borrower wazrants and will defend generally the titic to the Properry g
<br />�� encumbrances of record.
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<br /> , UNIFORM COVENAN7'S. Dorrower and Lander covenant and agree asfollows: _
<br />; , 1. Pwyment of PrinclpAl wnd Interest. Borrower shall promptly pay when due tlie principal and interest indebtedness
<br />- � ' �videnced by the Note and late charges as provided in the Note. This�e�dof'Tmst secures payment of said Note uccording
<br />� to its terms,which are incorporatcd herein by reference.
<br />" 2. Applic�tion of Payments. Unless applicable law provides othenvis�,oll paymen[s received by Lendcr under the Note
<br />_ • � � and paragraph 1 hereof shall be applied by Lender fit�t to interest duc on th:Note,second ro the principal due on the Note, �
<br /> ' and then to lete chazges due on the Note.
<br /> �„, 3. Prior Mortgages And Deed�ofTrust; Charges; Lien9. Borrower shall perfonn all of Borrowe�s obligations,under
<br />-� � ' any mortgage,deed of trust or other securiry agreement with a lien wh ic6 hac prioriry over this Deed of Trust, including
<br /> ;: ���' } Borrower's covenants to make payments when due. Borrower shall pay or�ause to be paid all taxes,assessments and other
<br /> '` charges,fines and impositions attributabic to the Property which may attaioa piior3ty over d�is Deed of Tn►st,and leasehold
<br /> ' payments or ground ti•ents,if any.
<br />� • 4. Hozard Insurance. a) Bortower shall keep the improvements now ezisting or hereafter erected on thr.Property insured
<br /> � against loss by Rro,hazards included within the tertn"extended coverege",er►d eny other ha�ards,including floods or flood,
<br />::;� � �� — for whicn L,enderrequires insu�a���, T`�s :��sur»r.::sh»!!�'m?�n?a�n�in the amounts and for the periods that l,ender
<br />- requires, 'Ilu insurance carrirr providing the insurance shall be chosen by Borrower subject to l.ender's approvnl which
<br /> � shall not be wireasonably withheld. If 9orrower fails to maintain cov�rage described above, Lender may, at Lender's
<br /> " option,obtain coverage to protect Lender's rights in the Properry in accordance with paragraph 6.
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<br />=;;;, _. t: , b)All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender
<br />��,,,�,.,,,;% � shall have the right to hold tho policies und renewals, [f Lender requies, Borrower shall promptly give to l,ender all
<br />�r,•:,�.:.,�,; receipts of paid premiums and rrnewal notices. In the event of loss,aorrower shall give prompt to the insurance carrier end
<br />=�•r��«•;:�; . Lender. Lender may make aroof of loss iF not made promptty to Bortower.
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<br /> _ �'"• c) Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be applied to restoration or repair of
<br />'���s�!'�r_ the Property damaged, if the restoration or repair(s economically feasiMe and Lender's security is not lessened. If the
<br />��"',a.:.;;::.j�;. restoration or repair is not economically feasible or Lender's security W�auld be lessened,the insurance proceeds shall be
<br /> r;,,ip.,,...•. applied to the sums secured by this Security Instn�ment,whether or nathen due,with any excess paid to Borrower. If
<br />�=�"���' �� Borrower abanc+ons the Pro{xrty or das not answer within 30 days a notia from Lender that the insurance carrier has
<br /> �." ^ ', offered to settle a claim,then Lender may collect the insurance proceeds.Lender may use t�e proceeds ta repair or resrore
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<br />_ the Properry or to puy sums secured by this Security lnstrument,wheth�r or not then due. The 30-day period will begin
<br /> - - . when the notice is given.
<br /> _� '^ . d) Except es provided in subparagreph 4(e)below,should partial or complete destniction or damage occur to the Property,
<br /> ;i:��^�~°�. gorrower hereby agrees that eny and all instruments evidencing insuranu proceeds received by Lender as a result of said
<br />_:�°,,,�; dunage or destruction, shall be placed in a non-interest bearing eserow aaount with Lender. At l.ender's discrction,
<br /> _,. -' Lender may release some or ull of the prceeeds from escrow after Borrower presents Lender with a receipt(s),invoice(s),
<br />- written estimates(s) or other document(s) ecceptable to Lender which ret ates to the repair and/or improvemenu of the
<br />� • f Property necessary as n result of said dxmage and/or destruction. Absenten egrecment to the conaary,Lender shall not be
<br /> required to pay 13orrower any interest on the proceeds held in ihe escrowaccount. Any sunounu remaining in the account
<br /> Y after all repairs and/a improvements havc beem m�cle to the Lender's suisfaction,shall be applied to the sums secured by
<br /> � this Deed of Trust, Deed to Securc Debt,or Mortgage. F3orrower furttiera�rces to cooperate with Lender by endorsing all,
<br /> checks,draRs and/ar other instrurnents evidencing insurance prceeeds; aod any necessary documents. Should E3orrower fail
<br /> to provide any required cndorsement end/or exccution witl�in thirty p11) days aRer Lender scnds borrower notice that
<br /> � Lender has receivcd en instrument evidencing insurance proceeds,a daument(s)requiring Borro�ver's signature,Borrower
<br /> hercby authorizcs Lcnder to endorse said instrumcnt and/or document(s)on Borcowers behalf, and collcct and apply said
<br /> procccds at Lendcr's option,eithcrtQ restoration or repair of the Prop�nyorto sums secured by this Decd of Trust,Deed to
<br /> . Secure Debt,or i.lortgage. It is not the intention of either party that tt�iscscrow provision,and/or Lrnder's endorsement or
<br /> _____—..� _.........:......�....,�,��„��„�„rr���n�or document(s)on behalf of E3orro��crcreate a fiduciary or agency relationship between
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<br /> ' Lender and Borro�ver.
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<br /> � � e) Unlcss Lendcr and Borro�►�er othcnvise agree in�vriting, any application of procecds to principal shsll not extend or
<br /> postpone thc due datc of the monthly payments referred to in paragraphs I and 2 or ci�ange thc amount of the payments. If
<br /> • under paragraph 16 the PropeRy is acquired by Lcnder,Dorrower's ri�ht to any insurance policies and procceds resulting
<br /> , from damage to the property prior to thc acquisition sliall pass to Lend�r to the extent of the sums seaircd by tliis Security
<br /> ' Instrumcnt.
<br /> 5. �rescrvatlun and ;11Hintcnuncc of Property; lJcascholds;Condominlums;Planncd Unit Dc�•clopments. DoRO�vcr
<br /> 2417V21Rt.U71 1`.Ft 2 lUl Yil NL 1 X/AHMNLL IMII
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