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<br /> � 2. P�ymenf oflndsbfedrost. Trusror shall prompdy pny nr cause ro ba nld whon dua fha Ohbpulmns nnd nll o�hnrinrinhrodnoss. Tk•� '' � � ;;"r�;:
<br /> Trustor sha!/also piompllyand laifh/ully obscrve a//o/lfs obl/gations uncPr any ofhor dood u/frosf anCUmhnrinp nN nr parl ol Ilm Tiusr r ',_
<br /> � Properry und,il npplicable,nny promissory noce,puornnly,or ofhor�onn o/confrncfun!indobfod�ms�sncurod by sur.h otha dc,r.d ol rrusf, • ; �,:.��z�
<br /> whothor%unior or soNor fo rho lien ol rh/s Doed ol Tius1,and eny olher obli�joNons socurod hy n hon on rhn Trusf Proporfy,whr.lhor nnsin(/ `Y-
<br /> cansonsunlly orby oporotron ollaw. - -
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<br /> � 3. Canatrur,tlon ollmprovem�nts. Trustor shnll complefo in pood and workmanlika mnnnor any bu�ldings,improvomnnls oi rnpmrs rolnfu�� ,•���N
<br /> thereto which moy bo her�un an the Ausf Pioperty a confnmplated by fhe Oblir�ufions socurod huioby, 10 pAy whon duo oll c�srs nnd • . .;';�±r�`
<br /> ' liubilifi�s lncuned the�e%r,ond not m permit uny cons►ructlon lion agalns►such Trusf Propaity. M Uin ovonf cw�sbuction of hudrlln�s, • ,.,;;-_
<br /> lmprovements or repairs aro con�amplAte�/ Trusror also agrous,anythinr�/n this Oead ol Tiusf ro tho connary notwdhs�nndinp;!al fn '_;z�;
<br /> #' ,., piompt/y commenca any suc/i work ond lo comple►e fhe praposod lmprovnmenfs prompt/y,(bl�o complQie Ihe samo in nccordonco wiHi tho �� .�;. �
<br /> ,�`.��—.
<br /> � pinns and spnr.i/icnrions es epproved 6y Banellcipry,(c/ to comply with all(he terms ol a huAding loan agroemont,el any,bafween Tiusfnr `. �'±".-�';�,:..__
<br /> ' � and 14enolicinry, the terms of whlch are incorporated heroin by reloienco end mude a pnit haiool, Idl to a/low Benolicioiy m inspact tho Trust ,, . ,-
<br /> k 1 PioPerly at all fimes during construction,and(oJ fo replace any work or mateNals unsolisloc�oiy to Beneficiary w�thrn/iJteen!151 days alf�r __L=_w_ �L
<br /> �;' t wruten nodce/iom 8ene6clary o/such/act. , °`��'�°_'
<br /> � ' _l '<�d'�nc.-
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<br /> �� ,. ;\ 4. Funds/or P�yment olCh�rpes.!lrayuastad n�ony time orlr�m fime to�ime by tl�o Renelic�ary, Tiusfor s/�a//pay to Benn/iciary on the ��"iYt. ---
<br /> �7� /irsf day ol oach monfh, orsuch ofher date each month as may bu speci/iod by Beneliciary,unlil tho ObligAfions oro paid m/u/l,a sum ' ---����"��� �
<br /> •+ ��� lhaioina/foi tho"Funds"1 equal to 1/1?.th o/the yoorly�axns and assossmants which mny a�roin piio�iry ovar fhis Oocd ol Trus�and ground °______...
<br /> rcnfs on tha Tiust Pioporry, i/any,plus 1/12th ol tha yaady picmium installments lor hAZnrd insurance,plus 1/12(h ol fho yaady prcmium ,y�''-__�
<br /> ? instnllments /o�morlga�e insuianr.e,i/ony,all as�oasonably nslimntod initinNy and/rom time to fimn by Boncliciery on tho basis o/ •• •�=��-
<br /> nssossments and bills and reasonnblo osfimaros rhorool. Thn Funds shall bn held in un insfitufion, rho doposits or accounrs ol which nre 1'`__-- '
<br /> inswod o�guarenteed by a/edera/or stnto or�ene y includin,q Beneliclury. Bano/icinry shal/appty rl�s Funds ro pay soid tnxas, nssossmonts, _-_ -
<br /> = insuranco premiums and ground rents. Bone/iciary shal/nof bo roquirod�o pny Trustor nn y intares�o�namm�s on�ho Funds. Benolicinry shall
<br /> give ro Trusfar,wifhouf cha��o,nn onnuol ncr.ounfm�ol fhe Funds sAOwin�r.rodits and dablts to Ihe Funds anU the purpose/or which onch __.�
<br /> debif to Iho Funds was mada. Tho funds nro p/odDQd us additionn/socuriry lo�tha OG/igo(ions securod by thls Deed o/ Trust. /!�hr.nmount —
<br /> o/the Funds hefd by Benoliciary, tcpefhei wlth►ho h�►uie month/y lnstel/mants of Fynt�pAyeblo pr/or to the due dntrrs o/taxes, _
<br /> nssassman►s,insuranco premiums nnd ground rnnrs,shall oxcoed the amoun�rnquiled to poy said loxes,assessments, insurance promiums �,
<br /> and pround renls as lhey lal/due, such excess shall be, a�Tiusror's opfion,eithnr promptly repaid Io Tiusfor or creditad�o Trus�oi n�ninst =_
<br /> lufure monthlyinstallments ol Funds.I/the amount o/the Funds held by Beneliciaiy shall not be sul/�cient fn pay taxes,assessments, �-
<br /> insuranco piemlums and giound renls as fhny lell d�io, Trustor shn!l pa y�o Benn/iclary un y nmount nncessary fo make up the delicioncy -.
<br /> within thirty days Irom the�1afe noflce Is malled by Ilena/iclary to Trusfoi i�questinn paymenf thnieo% Upon paymenf in lu//ol n!/ __
<br /> 061igotions, 8ene/iciary sho//p�ompUy relund to ]rusroi any funds he/d by Beneliciary./I fha Trusf Piopn�ry Is so/d undc�fhw power o/snJe
<br /> i oi the Tiust Piopeiry is otherwise acquired by Bene/ic/ary,Bene/iciary sha//app/y,immediam/y prior ro fho sA/e oJ rhe T�ust Proparry or its �;,;...
<br /> , acquisition by Beneliciary,any Funds ho/d by 8eneliciary at the�lme o/npp/icalion as a cradit agninst thv Ob/ian�ions. /f Beneliciary exocutes _
<br /> a writtan wniver o/Trustoi's abligAlions under�hls Section, Trustor covenants and agroes to pay,be%ro the same becomo delinquent,oll
<br /> � taxes,assessments,insu�ence premiums,piound rents,and all ather ch�rpes whetsoever lev/ed upon or assessod,placed or made a�ninsf ----
<br /> F� fhe Trust Piopeily.Trustor lurthei apioes,upon wrftfon request by Beneliclary,to prompt/y de/ivor to Beneliciaiy all receipls Jor fhe payment _
<br /> ol sucl>chorr�as. Tiustorlikowise apreos to pay a/!taxes,assossments and orher chorgvs lavied upon or assessed,p/aced or mado against, ,�
<br /> -.�. oi moosured by, this Deed o/Tiust a►he rerordallon he�eol. ° "`
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<br /> b. App/lesdon ot Peyments.A/I poymenls iacoivod by BQne/!c/ary as ro ony debf,/iobility or ob/lpatlon owad ro Beneliciary by Trusfor may ,__
<br /> be app�ied b y 8nnolicJaiy 10 Iho payment o/►ho Obligofions In any order or munnor o/npplicntion which Benolirlary,in ils a6so�utQ disciorion, _
<br /> �� deems t+ppiopriote. � ��
<br /> � 6. Cherges;Llena.Tiusror will konp the Trusr Pioporty Iree/rom all leens and ancumbrancos,whather prior or subordinnfe to qris Daed ol
<br /> � Trusf,o(hor lhan tho/ien of current real nstafn tnxes nnd fnsfallmenfs o/o/Iicinl assessments wifh rospect to wl�ich no ponn/ty is yet -: �:
<br /> __ __ . _. y_ paynblo;provided,howeve, that Trus[or neednot dischorge any such lien so long as Trusfor shall agree,in wiiting, to pay the obligation '
<br /> -- - � -,TF- secuiad by such/ren in a mannar acca raoin io acnali�ia� a���s��o�(in ''`'"''^^^:^^f su�!:!ic^4y°p,^-•'0:!13!!'!?�J?�ninr.siedings ellecfive -
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<br /> . � fo p�event the enloicemenl o/!he lien or thn loss oJ nnylnterest!n or part o/the Trus►Pioperry,and shal/a/so give such reasonob/e security 'a `1
<br /> to Bvneliclaiy es may be demanded by Bene/%inry to insure comp/lance therewith. The Bonoliclnry may in ifs sv/e discretian delend►he/ien
<br /> al thls Doed ol Trusf nnd a//costs and nffornoys'/oes lncurred by Beneliciary/n said do%nse shal/be�clmbwsed by Trustor or added to(l�o �_
<br /> Obligalinns.
<br /> 7. He:�rd lntuience. Tiustor shall keep►he buildinr�s and ofher improvemnnts now oxistinr�or horeaiter Qrocted on t/ie Trus1 Proper►y
<br /> insured by insurance caniers safislactory to Beneliclary ap�inst loss by/ire,hazards included in tho term "extended coverage'and such
<br /> other hazards,cnsun/ties and contin�encios,inchidinp v�or dumn�e lnsuranco,ns may be roqulind by Benoliciary,in such omounfs and lor _
<br /> such poiiods ns inay ba requiicd by Bonr.liciary. The policy o/insuinnco sholl bn in Ioim ar.cepfsblo�o Bono/iciary and shnll nor conroin n
<br /> � de%nse bosed on coinswanca,ond sl>all r.ontaln Iha standerd provisian fhat no act o/fho Benolicia�y or o/tho Beno/iciary's ogo�its or
<br /> raprosentotives will render the pollcy void ns to the lJaneliciery or a//oct tlie Bennlicinry's iir�hf to recovor in cose o/loss,anrl fho policy or
<br /> po/icies shullprovido thnr tho s�mo may not Go cnnce/od or modilied w/Ihout l/lteon fib/days pr/or writton notice�o Bene/iciary, and hnvo w
<br /> loss pnyal�lo provislons!n Invoi o/and!n loim acceptnble fo Beno/iclary.All premiums on insuronce policies shall be pn/d in tho inonnar
<br /> providnd under tha Secrion en�lt/ed'Funds Ior Peyment o/Cherr�os'here/n or,il nvf peid in such manner,Gy Tiustor mnking poymont af
<br /> i /ensf/ilteen 1151 days p�ioi ro the due dofo,directly to rhe lnsurance carrler.Bene/iciary shall havo►ho right to hol�l the polic%s and ronawels
<br /> thereol end Tiustoi sholl prompl/y lurnish lo Beneliclury alI renowa/noficos and nU paid premium rvcoipts recnived by i�.ln no even►slru!l
<br /> Uonofir.iuiy o�Trustne Ge lield responsihle�or/aihiro to pa y lnsuranco promiums o�/or anylass or domage nrising ouf ol a dnlect in nny
<br /> �• po/icy or arising ou�ol any/ailure o/ony insurnnce company to pay/or any/oss or dnma�o insured aga�nst or/or/oi/uro by Tiuslar ro e//ocf
<br /> �� �he lnsurance required hereandei.In Ihe uvont ol/oss, 7rustor sha!/glve prompt notico b�mnr/ro(ho insuranco caniei and L�onu/rciory. �:'
<br /> �• �� Bene/iciary may make proo/ol loss!1 noT made p�omptly or in proper/orm by Trustor.All policies o/insurance and any and all reJunds of t
<br /> unonrned premiums Ara heioby assir�ned to Benaliciery as additionol security lor the pa ymanr ol fhe Oblipations. In tho ovont ol Bene/iclniy's -
<br /> exGicise o/the power ol salo conta�ned heroin,or in►ho event o/%roc%sure,a/I ripht, t!t/e and lnterost ol Tiusfor in and�o any insuronco
<br /> ' � policy�her.In/orce shnll pass to tha purchaser af fhe Vusfee's snle or loreclosuro snle. /n cose ol any/oss, tho insurance procoeds muy, ot � '____
<br /> � � fhe op(ion ol[Jeneliciary,bo applled G y 8eno/iclory upon tho Obligations,or any part tlrereol,end!n such order and amouni as Benelrclnry =_
<br /> _ mny detormine; oi said insuianco proceods,at the option o/Boneliciery,may elther be usud ln raplacing or restoring the Trust Property
<br /> pnrtially o�(oto//y desUOYed fo o condifion satls/octory fo Qeneliciary:or said insurance p�oceeds,or any portion(herao%mo y be relnasod�o '? __
<br /> � Tiusror. (/nless Beneflciary ond Tiusror orherwiso a�roe ln wNt/ng,any such npplicodon ol insurnncn proceads she!l not oxrend or postponQ +:�_-
<br /> rhe due dnte of any nofa or agreomont ovldencing flie Oblifladons,or any insrnllments called lor thnre�n,or chango fho omnunr of such
<br />^• � instaflments.I/the Tiust Pioporty is acquirod by lJeneliclnry pursuant►o tho oxe�cisn of►hn power o!sale or othnr loroclosuro,ol/right, tide `�^.^
<br /> ond intorvsf ol Tiustor in nnd to nny insuience pioceads paynb/e as a rnsu/t ol damage to►ho Tiusf Propttrfy prioi to fhe so%or ncqulsition .i��
<br /> shall pass to Henoliciary and shall bo appfiod lirst to the costs ond expenses,lncluding arromnys'leos,incuned in collocting such proceeds, f,:,�,
<br /> (hen in the manne�andin the orde�providod hercln. Notwlthstonding nnything contained in th�s Saction to tho contr�ry,iI Chis Uood ol Trus� '�r�.---
<br /> is on a condominium o�a�own house and thore is a mostor insurance polrcy in lorce covarin tho common aroas and lacilitios and aU •-�_---
<br /> ' ' condominiums and town housos located in tha�dovefopmen►, thon,unless ofhorwiso notilie�ln wrir/ng by►he Benelir,iary,tho Trustor sholl �.�n;;;��}���
<br /> havo no oblir�n[iun to malntain Ihelnsuranco roquiied herew�do�and wil/assign a//Gone/its nnd prnceeds recoived H�eioon ro rho QenoliciUry : �..�p.,�,>s'',.
<br /> MSCr'
<br /> an�i,in fha Beneliciary's sole discretion,namo the lJenoliciary ns the nomod inswed on sald policy. Whenaver such inswance is in Ioice �j��,e,,r:�.sr�;�-
<br /> /regardless ol whalher reyuesfed 6y�hQ Benolrciary or noU U�e Tiusror hereby authoiizos tho Bone/iciary to cancel such insu�nnce whenever :'s'�'
<br /> d�e Bene/iciary delermines tha[such insuronce doos not odaquafaly protect tlrn Benoficiary's m�erest. ^'.'��_r-
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<br /> 8. Proserv�tfon�nd Meinfenence o!Trutt Property. )'rusro�will koep tho buildings and ofhe�improvomonts nuw or hereafter eroctod on rhe ,_
<br /> Trust Piopo�ty in good�epair and condition, ord�nory dnprociation oxcepted,and s/ra/l provido a//uti/ity sorvices nnevss�ry/o�(ho oporation .. .
<br /> and preservation ol Ihe Trusr Proporty. Trusfor wi0 nor comrnit or punnu wnsro, wifl not altor the desi�n or struc(urol charoctor cnnstituring
<br /> nny Guildinp now or ho�eo/!or orocted on ond constitufing tho Trusf P�operty without rha prior wriften consent ol Benelicinry,will not do any ,
<br /> � ac�or thin�which wvuld unduly impair or dapreciato tho valuo ol thr. Trust P�oparty ond wdl nof nLondon�hc Trusf Propertp.Trusror wrl/nof
<br /> remove anylix�urcs consti�uring rho Trus�Pioperty unloss!ho same aie immedintely�eplaced with likn properry subject�o the/ion ond
<br /> secuiity inranst ol this Deed ol 1'iusr and ol nt leost equa/volun and uti/ity. Trustoi wi/1 comp/y with all p�osent and/ufwe ordiaances,
<br /> iegulations m�d iequiiemenfs of any goveinrnenfa/GoJy which are npp/icnb/o to Ihn Tiust Property ond�o fhe occupnncy and use r/rereol,//
<br /> t/ris Deod o!Trust is on a miif in o condoininium or a planned unit devolopmenL Trus►or sl�nl!pe�lorin all o!Tiustor's obligafia�s w�der!he ,
<br /> doclnrofrons or covenants c�oafinp or yovorning�ho condominiuin or Uio pinnnod unit dovelopmenr, thv bylvws and iegulafions ul!ho
<br /> � condaminium or plonned unit developmenL and rho constituant documonrs. �
<br /> o �....,�..d�„ ttannir„rv nr irs noenls mnv.n�nll�easonnble timns,en►vr upon thc T�usf Pioperry/or thc purposc o/inspac(roii inNuding,
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<br /> Dut nof/imitod b environmantal(os(iny.l7enuliciary shall lwvo no duty fo moko such�nspecnon ano snaii nur i,r i%�i,F�i� .:�.+�..,,.. .�c , � - �-_--- -
<br /> pe�son in possession d it mnkvs or Inils ro muke ony such inspecrion. �
<br /> jf0. Protecflon ol Secudry. I/Trusfor/ails ro perlorm ony o/th�covenon�s nnd ogieements contninad in U�is need o/Trust,or il any action ! ,
<br /> I or proceeding is commenced wh�ch does or rnny adveisely a/Iact rhe 7'iusf Piope�ry oi tho interest o/Tiusto�o�Qenoliciary thcioln or fhe I
<br /> rifle ol 1'rusfor therero,rhen Oenoliciury,ot i!s option,may perlomi such coverronts and agioements,moke such oppar+rances, delend a�oinst
<br /> 1 and/a�nvesti�vte such acrion or procecding end take�such other action as 8ene6ciaiy deems��ecessary to pmtect i(s interest iiicludmg,Guf
<br /> i r�ot Gmrfed fo, dubursement ol rcasonable utroineys'lecs nnd entry upon the Trus�Property to mnke repairs.Any amounts disbursed or
<br /> �ncuncJ tiyQcneficiarypuisuonf ro rhis SecGon,inc/udrny.6ur not limited to,reasonable nf�ornays'lec�s, with rnrerest thcrcon, shaU
<br /> � constiture addiriono/Obliguuons secured by fhis Deed ol Trust. Benaffciary is Herehy given an enevocable puwer o/uffomey Iwhich powar is
<br /> coup�eJ wirh�n mterest/or puiposes ol secuntyl fo enror upon Uie Trusf Property as the T�usror's ayont und rn rhe riustoi's no+no ro
<br /> � pe�/orm any�nd a!/covenants ond ogrewnents�a Ge perlorrncd by thc Trustor os horein provided. Unloss Trustor and fTcne6ciary o�ree fo
<br /> othor(enus o/paymenr, such nmounls shnll be PayaGle upon notico Irom flone/icinry ro T�ustor requesfiny poyment the�ool,ond shaU Ge�r
<br /> �n�eres�I�om Nrc dvte ol disGurscrnant or tho do�e incurrcd ot the rate set lorth in d�a Nofa or Nic ryfe prowdod in N�e most�occn�oGli�nrion
<br /> covmed by fhe Guornnry, unless poymvnt o/inferest af such roto would be conVnry to vppl+c�Glo low,�n whfch evenr suc/i amounts s/��ll I
<br /> hear inferest pt(he highest rafe permittod by applrcablo law.Nofhing contained in this puragraph shnN require Beneliciory fo incur uny
<br /> expenso or�ake any oc�ion hereunder. Benelicinry sholl, at ifs op�ion,be subrognfad to nny ancumbrance,llen,cluim or demand and fo a!1 �
<br /> rlghrs nnd secwdies lor the payment rhereol paid o�dischorged 6y Ileneliciary under�he provisians hereo/and any such suG�ognrion righrs
<br /> s�:o/�he add�tional:�nd cumulauve secuiiry/or fhls Deed o/rrust. 1'�9�z���
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