|
_ _ ;•R�?�;�' .��:.:._ :s-.:�-i:La,=
<br /> _,�fi:% . ,. .�f.. .S , �'� :f.rr_'' _ "w.t . .. - ' _-_
<br /> . ���"'S'r' — . �, _ .�i .
<br />..� 2' _ 'j S+c�.} . ' '-^�.� �^. �{, <',.
<br /> �� L'_ �s�! , . . . s.. � _ -__?...:.3._� � C. _"..,_r� �� ``q,�,L
<br /> � '`"a e �' • . . �.� � �� s.' � _ " F - e � ' . L� � L
<br /> 4 g. -A : 4 S ` t ��� y- �� 4 �� , r' F- �' .f � !i'4.� V+ i�' i�� . - 4 ra�c( .
<br /> .�� ,-� C�'.= 1 ' ' C .iC — r ` d-�. Y . - S� - yyi Q
<br /> - � _!: 3/ .� �7.` t t
<br /> u;_n. k . --.. ...`:; •.:_ . : u,S kti`r.y� -�` et``-. r _.y - �.� ec, �.� _.,�C, �r� c'�, ' ;�-t "
<br /> �� - �.i_�• t 4' f t � _`_'+ „ i�
<br />. ��r. ..
<br /> . -f�- '��q•_•i �' � •tt`_ _
<br /> :r f -
<br /> t 1 c�, -�. 2, Peyment af Indeb�driess. Tnuto�sha/l PromDNY PeY or caqse to be paid whea due the Obhgatians and a!I other indebted�ess. The ;
<br /> s � _ p�ra���//�pronrpuy e»d faitAfu!/y obseroe alI of its oDligatio�u unde�any other deed of inrst encumbering al!or pa►t ol the Trost� � � �z `:,
<br /> u
<br /> - ,,.:,�. , -t,•, p,,opp,r�,arrd,if applicab/e any promissoiY note,guaranry,or other term o/contrdctuaf indebtedness secured DY s�ch other desd of bust, -� �`v
<br />— � -S � r�- whetAetlunfor w senior io the fien ot this Deed of 7nisL and any other obGgations secured by a Gen on the Tiust PropenY.whether arising
<br /> -:��`� -E coasensually or by operauon of/aw. . �' ��
<br /> k�:",�:�� ��. r, .. '"` �..... .�-..,
<br /> - ` � � Coresbue8on oflmprov�t�. Trustor shell complete in good and wa�kmaNike mannei any buildngs,improvements o�repairs refating �� �,. _
<br /> <i » rheiero whieh may be begvn on the Trust PropeitY or eoatemp/ated by the Obligatiau secured Ae�ebY,ro pay wheR dae aI1 costs and � �< < • ��
<br /> ;� �,` r . ;, � fratri/iSes ineurred therefor,and not to Rerm;t any consvucaon�en against such Trust Prapeity. In Me evenr consYirrcrion ol bnil�ngs, �
<br /> c lm p,r vvemenis or re paiis are contemplated,Tnutoi also agrtes,anything in this Deed of Tiust to the contrary natwithstanding;lal to :
<br /> -�`:`-,:�- `-:,:�, ,.:-r:, .
<br /> -_:�". ., �= .,. � pmmptly cammenee any sach w,v�k an d m comp le t e t h e p m p o s e d i+n P a D V e►n e n u p r o m p t l y,f b J ro c m n p J e t e t h e s a m e i n a c c o r d ance wirh the _ �
<br /> � � p7ans end speci�ications as approved by BeneTiciary,!c/to rnmpy with a/l the terms ol a bwldmg loan ag2ement,if any,bartveen Tiustor L.' . �
<br /> £Y e � r � and Benefitiary,the terms of whlch are intorporared herein 6y�sference and made a pait hereol,tdl to a!!aw Benelicrary to mspect Me Tiost : -
<br /> 3`' ` ' � Property at all ames during consuuction,and/el ro replaee any work or materials unsatislactory to Benebciary within fifteen f 151 days aftei �.
<br /> � '" -' w�itten rrotice from Benefrcrary of sach IatG , �� -.T
<br /> ,� r ` . � , ,: k-
<br /> 7-;:• �- � . .
<br /> �_ ,y-t � ( � ryp�/��p�yym�t p/pja�gey.!f requested at any time or/rom time to time by tAe Beneficiary, Tiustor shall pay to Bene�ciary on tAe
<br /> �`." first day of each momh,ar such aiher date eaeh month as may 6e speciflied by Bene6ciary,unal �b��gations a�e paid in firl/,a sum ,,':�
<br /> i� r `'�'- � a tt- fhe�einafte�Me'Funds%equal ro 1/12tA of tAe yeady taxec and ass�srnents whfch may aitain�on(y ovei N+�'s Deed of Trosi and ground •s r'
<br /> �'�-�.-,��`= ` ' �' �'- � rents an tAe Ttust PropertY,if aaY•Plus lll2th o/iha yea�ly piemium installments far hazard ir+surance P/us 1/12th o1 the yesrly premium ; •: . .�,
<br /> $�_ -'' instalGnents tor mortgage insuranCe,if any,a//as ieasonabty esama t e d in i ti a l ty an d h vm ti m e t o li m e b y B e n e C r c:a ry on tAe basis o1 �;t..-��.'_�_'.
<br /> � -•��` . . � .
<br /> � assessmeirts artd 6il/s and reasonaDle estimates thereaf. The Fuads shal/he held in an institution,tAe deposits ar eccounts of wticA are x x�
<br /> � iruured or gaaranteed by a federaf or srate agency includ'mg Benefieiary. 9eneficia�Y sAal!apply tlie fuads m pay said taxe9,essess+nents. `±
<br /> `� ( •�� insurenee preminms and gronnd renis.Benefrcfa�Y s�+alf nat tre reqnired to pay Tiustor any interesr or eamings on tlre Fm►ds.BeneTrtiary shal► •
<br /> (: �f ``. :�- • Y..;- gnre m Trusror,withnut char8e,an annual aceounting af the Funds showing aed'as and debits to H+a Funds aad the purpose/or wAitA eacli .:_._
<br /> _.�;��,. �;. ' . ��.�`._".-;: debR to the Ponds was made. 7be funds are p/edged as add'itions/security for ihe 061igauo�+s secured by this Oeed o/Trust!J the amount �,,:,;..;';.
<br /> of the Funds held Dy Benefic"rdry,togather with the future monchty instal/menu o/Funds parable prior to the due dates of taxes.
<br /> t` " � ' 4 asseasmenu,insurance piemiu�and ground rents,shaU exceed the amonnt requi�ed m pay said taxes,assessmenls,insurance premiums °' �-
<br /> �� �, �_, � ' � and ground mnts az►hay fal/dae,such excess sha1�be,at Tiusioi"s op0ion,either prompUy repaid to Trustor o�credited to Tiustor agamst
<br /> -r ;u-: /uture monthly insta//ments of funds./f rAe amoant ot rhe Fuhds held by Benefrcia�y shal/not 6e safGuent to pay taxes,assessments, �'
<br />=_, ;�• ' � � " rnsurdnce premwms and gronnd renis as they lal!due,Tiusto�shap pay to Benefrciary any amount necessary to make up the deTreienc y -:� n°�
<br /> � withln thirty days fiom the date notice is mailed by Benefciary to Tiustor iequestJn�paymen�thereoL Upon peymeiN in full o!al/ ' �'.�J:-
<br /> �*.': ' ' s pbtigetio�,8eneficlary shal!pmmptly ielund to Tiusw�any Funds held 6y Beneffaary./f the Tiust Property is so�d under the pawet ol sale �r . :`
<br /> j',�.J '`P . ��:::'", or rhe Tiust Propeity is otha�wise aequiied by Benefrciary.Benefidary sha//aPPN•+�mediate/y prior to the sa/e of tAe Tieisl PropeiN a tis .
<br /> �. ' �= acquisition by Benehciary,any funds held by Benefrciary at Me time o!appfrcation as a aedit agar�t the ObCgativns.N Benehciary executes �
<br /> .,_,�., , �: a w r i t t e�w a i v e r o t T i u s t o r s o 6 l i g a t i o n s u n d e r t h�s S e r ti a n T i u s t o r c o v e n a n t s a n d a g r e e s ro pa y,be%re the s2me Cecome de/inquent,a// ��.-
<br /> --��-:, �. , - taxes,assesunents,riuurance premiums,giaand rents,and a/I oMer cAa�ges whe►soever levied upon o�assessed,pfaced or made againsr . ;:. .- -
<br /> '�{i r - • the 7nrst Propeity. Tiustor furfher agrees,upan wiitten request by BeneGeiary,to promady defrver to Benefrciary ttll reteipts for the payment �_:-.�._c��.;:_.
<br /> ; �k'= ' , � _ �� of such chaiges.Tiustoi/ikewise agiees ro pay s11 ta�ces,assessmentv and ofAer charges levied upon w assessed,placed or made against _ ,. ,i._
<br /> � '-�,;-=� or measumd by,this t�eed of Trust or the recaidation hereof. '.�•.-: �°`
<br /> �.� . �` _ ` �
<br /> � • r �� 5. Applfeatlon of PeymeMS.All paymenb ieceived ay Beneflciary as to any debt,liability or oDGgation owed to Beneficiary by 7rusfor may
<br />__-�ir.-�, �� -• �'L-, �_ be aDP�+��by�neficiary to the payme»t of the Obligeuons in any ordei or menne�nf applicatron which Beneficiary,in its absolute disc�etion, �� �_{�
<br /> ,�`n; . '' deems appropriate- �"'
<br /> ! �^:
<br /> �,.�.•;'.' L• - ` ,' � �ha�a y;Lie� Tiusto�wr!!heep fhe Tiust Property lrae trom aI!Gens and encambrdnces,whether prioi vr sabo�dinate ro�his Oeed of , ,,
<br /> ••� r f..; � Tiust,other than the re�of curm.nt rea/estate taxes and installmenls ol o�cial assess�nents witA respect to wAich no penahfr is Yet ,,..•f�9,-
<br /> • payable;piov�ded however,tAat Ttustor need not dischaige any sucA lien so long as Tiustoi shal!agreet in wbtiag,to pay ihe o�gauon t �� ;-
<br /> �� ' secered by such fren In a manner aceepubfe to BenericiaN�d shal/in goad faith contest sucA lien by apD�opriate/egal proceedmgs eflective
<br /> • :`„L to p�event the enfo�cement of ih9 lien or the loss o/any interesr rn or pa�t of the 7rust Piaperty,and sha//also grve such reasonable securify : ..; �.-_-7.
<br /> - to Beaeficiary as may be demanded Dy Benerciary to rnsu�e eompliance therewith. ThE Benerciary may in its sole�scietion defend the lien �, :.v, -`
<br /> '��'• • ':�'r of tAis Deed of 7rust and a!I casts arrd attomeYS'fees incuned by 8enefrciary in said defense sha!/6e rermbarsed by Tiusto�or added to the _, ��.;
<br /> �:,.7; �.. ' �bligations. ':-
<br /> " _ " �._�. 7. Heraid l�we�ree. Tiusto�shalJ keep rhe bm�dings and othe�impiovements now existing or Aeieeher erecied on the Trost Avperry - =-'_
<br /> � . insmEd by insuranse caniers satis/actory to Benel/ciary agamsi loss 6y�rre,haza�ds rnduded in Me term extended ceverege'and such `�., i
<br />.;,�p,-,,:' _ . . other hazards,casuaJdes end contingenties,including war damage Insurance,as may De iequired by Beneficiary,.�n sach amounts end/or
<br /> �,•:�.. . ., sucA Feriods a�may be iequiied by 8eneficrary. The po/icy of insurance shall De in larm aceeppble to Beneficiary end shall not contain a ,:.;;-r,:•�:
<br /> _� ,�, ; • .� detense based on carnsurance,and sha/!cantam the stendaM piovision that no act of the Bene�ciary or ot the Ben�ciary s agents or �
<br /> , � � � �'� ` iepresentatives wi//�ender the po/icy void as ro the Beneliciary or aflect the Bene6ciary's dgh!to iecovei in case ol/oss,and the pohcy or
<br /> •;ai �� � policies sAa/l provide that the seme may not be canceled or modilied without hheen 1151 aleYs pnor written notice to Beaeficlary,and have t�
<br /> Joss payabfe prowsions in lavar ol artd in Iomo accepta0ie to BenaTciary.AU premiums On i�a�ance policie9 shal/be paid rn the Ynanner j;- .
<br />",•�.I; ��`" ' . . J y pravided unde�the Section entitled'Funds lor Payment o/CAatges"herein o�d nor paid in such mannei Gy Tiustor makmg paVment at .,, •
<br /> �+':��`•'. ' � � /east rilteen f 15/days pdor to the due date,d�rectly to the i�uience Cainer.Bene6ciary sha/1 have fhe right to hold the policies end renewa/s �� «
<br /> •_'�,+�;�, ,.. �, theieof and Tiustor sAaJI promptry fumish to Beneficiary al!renewa!notrces and a/l paid premiun+receipts iecerved by it /n no event sAa/l � a:•,.';�-
<br /> . . �' Benefreiary 0�7rostee be hefd responsible/oi la!/u�e to pay insurer+ce p�emiums or/or any/oss Or dam�yqe ansmg out a1 a defect i»eny
<br /> "''.'; po/icy ar arising out of eny failure al any insuronce eompany to pay far any loss a damaga insuied egainst or!or/ailwe by Tiustor to eNett • �; �
<br /> � �� , r - the insurance�eQalied hereur+der.!n lhe e�rent of/oss. Tiustor sha/l give p�ompt noGCe by mail to fhe lnsuronca cam'er and 8ene�c/ary. ��,; `
<br /> .�,''.'� • '�•.. '�� : :t Benetrclary may make D�oof ol loss il not made prompt/y or in pro0ei form by 7iustor.Afl pa/icies of insurance and any and 8l/�elunds a1 -
<br /> - "������ ' • uneamed piemiums are horeDy assigned to Beneficiary as edditiona/secadry lor the payment of the Ob/igadons./n the evenf o/Benorciary's
<br /> `��"�•'-:` exeicise o/the power o!sale Contained he�eln,or in the event ol foreclosure,ad iigAt, dUe and interest o/Trustor in end to any lnsurance
<br /> ;::�c:.: �� � • policy then in loice sAaJl pess ro the puuhase►at fhe tn�sfee'�sale or/oreclosure sa/e.ln case of any loss,the insurdnce proceeds may,at
<br /> -.'•�.�-��•' the oO�on ol Benercrary,be appGed Av 8enaficiary upon Ihe Obligations,or eny pan thereof,and in such oi0er and emount es Benafitiary
<br /> may detemune;o�sai0 insurance proceeds,at tAe option of$enerciary,may eithe�be used in�eplaring or resto�ng the Trust Propertfi , u
<br /> '�,�; ' � pard8l/y or fotnity desuoyed to e cond�tion satislactory to 8eneliciary;o�said insbieace procaeds,o�eny porfron thereof,maY be re/eased fo ,-
<br /> i��+�`•� ' " T i u s t o i r ln/e s s 8enefieia ry and Tie�,sto�orhen,vise ag�ee in wiiting,any BucA 8pplrCatian of insurvnce pioceed9 ShgAnot extend o�pOSlpone ,;;.' :
<br /> t/..?: . � . .
<br /> , 7• . ►he due date ol any aote or agieement evidenting t he Oblig�tion9,or 8ny in9tal/menu ce/led to�theiein,oi thange t he amount o 1 suc A
<br /> `pU'�'' ' . insta!/ments./1 tAe 7iust Prope►tV is acqmied by Benehciary pursuant to tAe Bxerase ol fhe powe�o/sale or otAer Joreclosuie,ap right,title
<br /> ";;�.`"' end interest of 7rusto�in aad to any insu�ar+ce pracouds payab/e as e�esuff of damage!o the Irust PiopeaY Pi�oi to the sa/e or atCUisilion �
<br /> :� :�:�'` � ' sha/l pass to Benelie+ary and shad be applied liist to the tosts and expenses,including attorneys'lees.�ncurred rn cnf/ecting such�roceeds. . :
<br /> .•��r then in the manner and in the oider Provided he�ein.Notwithstendidg an ythmg coMained in fh�s Section ro the Conbary,il tAis Deed ol Trost „ ,
<br /> -;e--:-. . -;,. .. is on a condominium or a town haase and there is a master inw�anto poLc y in/arce cover+ng th�►common eieas and lacilities ea�a�!
<br /> �+:. :. ,, condominiums and tvvin houses�ocated in that development,then,unless otheiwise notilied in writing 6y the 8enefici8ry,the Tiustor shall , •'
<br /> �3 ;;;:, � Aave nv obGga►ion to maintain the insuiance iequrred he�eunder,and wdl as9�gn a/l benefits and proCeeds recerved the�eon to the Benefitiary
<br /> '� � ' ' and,in the Beneficiary's sole discret+on,name the Benelrciery as fhe named msu�ed on said policY. Whenever such insuianCe�S in lorco . � .
<br /> ��-..�; � • l�egB�dIBSS ol whefhpr ieque9ted by the Benel�c�ary or nol)the Tiustor he�eDV authO�ises the BenelrGary�O Cance/suth rnsu�ance whenever
<br /> ' Jhe Benebc�ary doteimines that such imurance does nof adeqoately protect the BenelrC�ary's mterest. ;�
<br /> ��'�� . ' 8 Preservnvon ond 1Vla/n[enanee ol Tiust gaperty. Tiustdi viill keep rhe bm/d�ngs and othe�improvements now or hosealter efected on the � �
<br /> ,�.;; - T�ust Piope�ty in good�epair and condihon, ord�nary deD�eciation extepted,end shali proaCe a��unbty services netessary lor the ope�at�on
<br /> � andproservatron oJ the Tibst Property. Trustar wJ/not tommd oi peimit wasle, wJ/no►alter the des�gn or sbuttu�al cha�acter consf�tuting
<br /> ;�,"'..`;•; . � vny Omldmg now or herealfoi eiected on and tonshtufirtg the Ausf Properfy witAOUt the pnar wntten consenT ol Benolierary, wrll not do any
<br /> •r_t�_ , � acr or Ming which viou/d undulY imparr or dep�ec�ate rhe value of tAe Trust Nopeny and will not abandon the 7�ust Property. Trusto�w�A not
<br /> ' ' ramove anv lirruies conetrtuhng the Trust Prope�ty un/ess the same a�e rmmediato�y ieplaced with l�ke p�operty sub�ect to the��en and
<br /> �_ ;" ' socw�tY�nterest o1(his Deed al T�ust�nd ol ar least eQua!va�ue a�d uhh�y. 7iustor wdl comply v�rth alt presen�and lu�u�e ord%rances,
<br /> p�• :,� ' regu�at�ans and requi�ements o1 anV yovernmenta�badY wMch are app�rtabfe(O the Trusf Prope�ty and tn the accu03ncy and uso fhereo/.N
<br /> 'Si; � ,• . ' this Deed of 7iust�s on a unrt m a cOndOminwm or a planned unN deve/opment, Uusror sha/10eilorm al!01 Trustor's obGgat�ons under the
<br /> �:� � decla�abons or covenanis cieahng o�govern,ng fhe condomimum or the plannod umt deve%pment.the bylaws and iegu/ahons oI tho
<br /> �;1;{`�.�� ' . cnndommrum or planned umt Aovelopment, an�thn consUtuent documents.
<br /> �}�. .."• ' 9. /nspec ti an.8 en o l�c�ai v bi��s a gents m�r.<n al!ieasonable hmes,entnr upon Mp liust PrnpertV�o�►he purpose of mspechon�ndud�ng. '
<br /> � " Dur not bm�red to enwranmenta�testrn9 Be�e��c�ary shaU have no dury rn make sucn msvechon and shal!not De bablo to Trustor or fo anV
<br /> '�:' �, � � . '( person rn oossess�on d R maAres or farls to rr.ake any cuch rnspectron �� _ _ .
<br /> '�� .°.��-.- . .�
<br /> �—=--:-- - �t 10. g'otaeNan ol Secu�lty. ll lrusto��a�1s !�perlorm any o(the Covenants and ag�eempnfs tontamed��fh�s Deed o� Trusf. o��f�ny acLO�
<br /> _� �:•,; : � 1 0�p�ocvedmg�s commenced vih�ch does or may vdverselV alfect tne Trust Propartv o��he�nteresr ormakersuch�ppe���ancesh de/nd aha�nst .I �
<br /> nt�e v� T�vs�o�rne�eto, rnen Benc�hcra�y.ar i(5 oA���^•�^a✓P°�lorm Su[h covenanis�nd aq�eemen�s, g 4.
<br /> •.�..` � ' and�Or rnveshgate Sbch aCAOn o�pteCfed�ng and takB SUM ofhei dCtron vs Bene/rcrary deem5�t'CB>sarY ta protec7+IS+nle•est�ncluding.bu� E -
<br /> � . �or lm��tad fo,disbu/SCmpnt 0���'aSOnaDle att0��eys'1eP5 3nd en�ry upOn MP T�USI F/OPP�ry t0 mgte«+Dg�tS Any amounts d�sbursed o� � •
<br /> . z. • '
<br /> ' ° •ncv��ed bv Be�e��aa�y pursuaRt ro�hrs Se=r�o� �nC�'J(/+^Q. bVf�%0I�IT/fpA f0.�PJSOAJ��P JI10��7Py5��PPS, �.1//(h�nteresr Me�eon, sna•'I t'I �
<br /> '' • • co�shtWS vd�+UO�a!QDGgatrnns secWetl by rh�s Oert10�Tfusr 8e�e��ua�v�s he�ebv Q•+ert an���P�OLdD�P QO%iP/O�dit0�/�PY^r�h�rh pOYiPf�f. }
<br /> -��'•�; n TI�jS(P/OpP/fY dS IhP trustos s.� ^��and,n�ne t��s�or s�ame to ` .
<br /> _�� CouD�ed w,th 3n,nip�esr/or paroOSes o�s�cunti�fo°ntC�uP�n M_ 4- i 1 BPnt•f.c�ary.� rrC!o f
<br /> �:'� � ne��oim:��3�d a�/cuveRU�ls and ag�?ements lo Ge Fe��oimed bv�ho '�usto�es�e�e•��c�orded U�-h�ss "vs�o�_^' 9 _ . -
<br /> �s��-.�._ ' ' ..rnar rar...e.�� Such am �n15 Sh,7'/he Adv✓b!C vOOn^OhCP��Om BenghU,�r�to rrci5�o����uNS�+np C.avmpnt Ihpropf, and SAd!/Dev� ,'
<br /> n.rvmPn� o� ,.r��nr...ar,�� t
<br />— � . . _ _. __ ', _" ���P�nSj lin !.n.J;rs ,if./�tiAUlCmm�n!ft s%n rJ.11...r�CU//P•Y 3�`^. �3lP 5_^�iVr�rr �.r:.r i�i.r .. •�- . _ ':.:.a...a:...�......_�� .. .. r — ... . .
<br /> '�. � 1 �o.r�rr•d b.r'�^a~.riu.i.y�r�_ �..�o;o:�.��•,���•�/.n�oiogr�t�r_�h'it��inu/�D���.,.ry� •.� af�Cn,�.�C:..i�ri. ���.•r^,M°✓enr su[n dr•��iu�f5 cndl� � .
<br /> ..
<br /> _. " ' �.. , n.Jn.,:! ��fn l�orm tr�7 bi.7nf��,Jbfr'lri "i^th.n�rn.,ra,nn`i�n t�..D.)r3Qr.��t+ :h1% C?�✓C Br,nof.�,.�ry r.�..��u�,�n� t .
<br /> . t hP'�r, ;�n . '' . .,�.�r �., ., - ^ - /. 7„� ..-�.^C.�.,.... �a., -��li.,..,..��.....�.ri) ��./h�.i:7 . _
<br /> ' � n , • ._���^�n�,. J• 'C J:)•�.i !in�ub�n,]9•o.
<br /> '• ,�an,�y•�.}'.t,._/...� I..... �... '..n• nn o, :�,t1 ..,;.q�..)"Jrd bi 9onel,��1•J:�^d"'•^ . .,-�c,n..� a.or� ��.�.rni :�i.�i,.O":U+�^• n•� . . 5
<br /> '� �t� ' �,rr`ne��:1,/...., u i,�y -„ •.r,n.r, � , ...,. � p..oq.,r i... ,�., .
<br /> � `
<br /> .i� •
<br /> �.. _' '_'
<br /> (i , , _ _i;"' .__—
<br /> -._I �_�_ „ . _ .... _ . .. . . i .. . .. . .. . ..... .. . . . .. .. . .. . . .. � • .. ��e,' , h �iii�'
<br />
|