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<br /> l �� UNIFORM COVfNANTS.Bomower and Lender covenant and agree as foflows: r �
<br /> � , � ; �_
<br /> 4-y.,; r 1. p�y��r�t o4 prtnct�at and Interest Bornower shall prvmpt{y paY wi'ien due the principal and interest indebtedness � � _,�� `.
<br />--;�-� �' :'�.f i z.,. . evidenced by the Nate and tate charges�s provided in the Note. ,�r,:�.`:.�..
<br /> "` _� u , 2 Frmds torTaxes and InsureRt�.Sub{ect to app5c�bte law or a written waiver by Lender,BoRawer shall pay to Lender �,. ;� ,.h'�
<br /> � � � er�s of prinapa!and interest are payabie under the Note,unU'1 the Notg is paid in fuil,a sum(herein ,'
<br /> =:.x:��. ". . . : �'i�. OR 1h@ d8y R10�1U11y P8Ym .. .
<br /> �:�- --`'.��-.::--=' - �Funds") equa! to one�twetflh of the yearty�and assessmems(indudng condominium and pianned unit devetopment `-'�.�.':a;< ;
<br /> --'�"F:`, �,.� � � " assessmerns.if a►ry)which maf►�priority aver this Deed of Tn�st,and ground rerits on the Properry.'rf arry,pius one-iweiffh r.-�.':`r` �_'
<br /> ts �, .`'�. ':
<br /> 3 �'�` '� of remium installmerds f�r hazard insurance,ptus one-twelfth af Y�Y Premium inshaliments for mortga�insuranCe.if �-,-= . •.:
<br /> �`�y ••: r�.:'- Y�lI P
<br /> - �y��t{a�;re�onabty�mated inidally and from time to time by Lender on the basis of assessmerds and biiis and reasonabte .� } � ^`
<br /> !��`-�" ...�,�� estimates t�ereof.Bortower shali not be obligated to make such pa}►merrts of Funds to Lender to the extertt that Borrower matces � , .:
<br /> '�"- - _ �uch paymenis to the holder of a prior mortgage or deed of trust i f su c h ho t der is an i n s ti t u ti o n a l l e n d e r. � `� �y�
<br /> ,�_� .: y, `^'i_�.�. �
<br /> ��., .,;� l f B orrower pays Fu n d s t o L e n d e r,t h e F u n d s s h a l l b e h e t d i n a n i n s ti t u t i o n the d e p o sits or accounts of wYiich are tsD � �t,
<br /> ;;�4 ,:• ` insuted or guaranteediby a Fgderaf or state agency(inctuding Lender if Lender is such an instii�tion).Lender shall app[y � _ _ ` ,
<br />:-�, : �, � the Funds to pay sa�td taxes,�dssessmenis.insurance premiums and ground rents.L e n d e r m ay n o t c harg e b r s o h o l d i n g � `" .`'--�<<-:"
<br /> .� � ' �:.:'�.•,:�.; .,
<br /> .� � and apptying the Funds,arsatyzing said aa:ount or verifying and compiling said assessments and biits,unless Lender pays f , �.
<br /> �.
<br /> . - Borrowar iMerest an U�e Furtds and applicable law Qertnits Lender to tnake such a charge.8orrower and Lender may agree � ' k . 8 r
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<br /> �� ` � •' ; � in writing at the time of execution ot this D e e d o f Tru s t t h a t in t e r e s t o n ffi e F u n d s s h a l l b e p a i d t o B o m o w e r,a n d u n t e s s s u c h ; .._; .�,,::
<br /> ��:.:
<br /> � a.: - agreement is made or applicabte 1aw reguires such interest to be paid,Lender shail not be required to pay Borrower any k fn y
<br /> _��;.-`_ _ iRterest or eamings on the Funds.Lender shall g�ve to Borrower, without charge, an armual accoun�ng of the Funds ;
<br /> �;�' ,.•: , shawing cxediis and debits to the Funds and the purpose for which each deb�t to the Funds was mada.The Funds are - °Y`:�;:
<br /> = � Ptedged as addi�ona!security tor the sums secured by this Deed of l'rust �� � � ��->
<br /> , � iti
<br /> ".4L":
<br /> .�:�j�;°�:. tf the amou�of the Funds hetd by Lender,together with the fuwre monthly fnstallmerrts of FuRds payabte pdor to the "?' ���:.._=:_.
<br /> ° ° `:�� j< due dates of taxes,assessments.insurance premiums and grourud rents.shafl exceed the amourit required to pay sai�d taxes, ::`,; _
<br /> :.�r= `'
<br /> F�, '• " assessments, insuranoe premiums and ground rerrts as they 1at1 due.such excess shall be,at Borrowe�'s option,etther _�._.�`: ``.
<br /> ; .., ,.- ,` Y
<br />_.`'°iY .,. Y ,�:. prompUy repaid to 9orrower or aredited to Borrower on mo�hfy installmertts of Funds.lf the amount of ffie Funds he l d by `r .:L•: ,t� °
<br /> _s���� '� �� Lender shall not be su�fiaent to pay taxes,assessmerns,insurance premiums and ground rents as they taH due,Bamnwer ��': ':+.~-.
<br /> ��t�•. �.� �,• � ";_� shatl pay to Lender any amou�t necessary to make up the def�cisncy in one or more payments as�ender may require. - ;,;''";``�;:-
<br /> �'.�- �pon paymerft in fuD of alt sums secured by this Deed of Trust,Lender shall prompUy refund to Barrawer any Funds ti :_.i�_,_
<br /> �,.a,� -
<br /> :��:...
<br /> � hetd by Lender.If under paragraph 171�ereof the Property is sold a•the Properry is otherwiss acquired by Lt3ndsr,Lender % "` `' �-r.
<br /> '.;;;_r : , ,. �, sha11 appty,no later than immediatety prior to the sate of the Praperty or its acquisition by Lender,arry Funds hetd by Lender �{ �-._
<br />;:';�;: '"� • • � at the time of application as a credit against the sums secured by this Deed of Trust. �,+`���';j°��::-
<br /> ���-.�.,-' .; ( � 3. Applicatton of Pa�ments.Untess appticabte taw provides othen�vise.all payments received by Lender u�der the i �;} .
<br /> �,;s � . � `,• Note artd paragraphs 1 and 2 hereof shatl be appfted by Lender first in payment of amounts payabte to Lender by Borrower .
<br /> _;��� . � ' under paragraph 2 hereof,then to interest payabte on the Note,and then to the principal of the Note. "?�r-•
<br /> .. af�. '
<br /> �.�••<:, ' • . , 4. Prior htortgages and Deeds ofTrus�Charges;Liens.Borrower shall pertorm all of Bonower's obtigaUons under
<br /> ..,.�.,:
<br /> �:,:�.,: : � � any mortgage.deed of trust or other security agreement with a tien which has priority over this Deed of Tnist, includtng � �,_`t��Y,
<br /> '.��s Borrower's co�enants to make payments uui�en due.8orrower shalt pay or cause to be paid all taxes,assessr�fents and - •H'r'=:`
<br /> .. ,;_<<
<br /> � `� other charges.firtes and imQositions attributabte to the Property which may attain a pdority over this Deed of Trust,and '••.,:; .-�"=
<br /> 'f.; . �" ;:�-:
<br /> , s�. , teasehotd payments or ground rents,if anK . -,:
<br /> ;���; ' • , 5. Hazard tnsurance.Borrower shall keep the improvemeMs now existing or hereafter erected on the Property `:_;�,,�:"�_'
<br /> ,;...; , � • � insured against loss by Bre,hazards included within the ter►n"extended coverage",flood and such other hazards as Lender . .`
<br /> `� ���� may require and in such amounts and tor such perlods as Lender may require.
<br /> �.:.,:`.. � ... '„`.:''_�`_
<br /> r-�'.:.. The insurance carrier pro+�ding the insurance shall by chosen by Borrower subJeci to appraval by Lender;provided, ;
<br /> r_.� ,•�. , ,
<br /> _3_ ,°:. .. that such approval shall not be unreasonabty withheld.Att insurance policles and renewals thereof shall be in a iorm : �
<br /> �j�:�`- � acceptable to Lender and shall include a standard mortgage ctause in favor of and in a torm acceptabte to Lender.Lender ',r�': -•-'.?k,
<br /> ��`(<"�; �.. �� shall have the rigM ta hold the poticies and renewals thereof.subject ta the terms of any mortgage,deed af trust or other . .
<br /> � secu►ity agreemern with a lien which has priority over this Deed of Trust. .
<br /> ��./�'•�� � � In the event of toss,Borrower shall give prompt noUce to the insurance canier and Lender.Lender may make proof ot :
<br />_._i,'.'.•: .
<br /> �,�. .
<br /> r.. 4 . loss if not ma pe promptly by Borrower. p �+-n�trom the date notice
<br /> '�;?;;; � � ' If the Pro erty is abandoned by Barrower,or'rf Borrower faits to res ond to Lender within 30 . �,' �•• . .
<br /> +��:�:�� ,. . y is maited by Lender to Bottower that the insurance carrier ofters to settle a claim tor insuraRCe beneflts, Lender is :
<br /> �' ��" , sutharized to coltect and apply the insurance proceeds at Lender's option either to restoratlon or�epair of the Property or
<br /> ��'.., .
<br /> .#.. -: � to the sums secured by this Deed of Trust. •
<br /> �,-��'}r.'_.' , � 6. Presenration and Maintenance o! Property: Leaseholds; Cortdominiums; Planned Unit DevefopmeMa
<br /> �'� :_ ' • • .� Borrow e r s h a l l k e e p t h e P r o p e rt y i n g o o d r e p a i r a n d s h a l l�o t c o mmit waste or permit im pairment or deterioration of the
<br /> Property and shatl compty with the provisions of any lease�f this Deed of 7rust is on a leasehold.tf this Deed of Trust is on
<br /> �,"I� ' a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the
<br /> t...i. �. . � .
<br /> ';�.; ,. R deelaration or covenant�creating or governing the condominium or planned unit development,the by-taws and regutations
<br /> of the condominium or planned unit development,and constituent documents.
<br /> �� '• • ` 7, protection o1 Lender's Security. It Borrower fails to perform the covenants and agreements coMained in this
<br /> :1:•.:,.� � ,
<br /> ;:'� � Deed o!Trust,or if arty action or proceeding is commenced which materialty aftects Lende�s interest in the Property,then
<br /> �` � � �� . � Lender, at Lender's option, upon not�ce to Borrower, may make such appearances. d�sburse such sums, inctuding ;
<br /> .:�,;,, .,
<br /> •,�}�.:� � , reasonable attorneys'tees.and take such acbon as�s neCessary to protecl Lender's interest.If Lender required mOrtgage
<br /> .,I;'•.<,`,
<br /> ,,, ,. ., i insurance as a condition of makmg the loan secured by this Deed of Trust,8orrower shall pay the premiums required to �:
<br /> �r� , � j maintain such�nsurance in effect untd such time as the requirement for such insurance terminates in accordance with . .
<br /> •���;- �- � . � Borrov+rars and Lender's written agreement or applicable law. . .
<br /> ; _ r•''
<br /> . . . Any amounts disbursed by Lender pursuant to this paragraph 7,with interes t t herean,a t t h e N o t e r a t e,s h a l l b e c o m e
<br /> ���� ' addiUOnai indebtedness of Borro�ver secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of
<br /> . ,J_�'_'..•_ •
<br /> J.`. i payment, such amounts shatl be payabte upon not�ce lrom l.ender to Borrower requesting payment thereof. Noth�ng ,
<br /> �. , . .
<br /> `� � •�:, • • • conta�ned m th�s paragraph 7 shall requ�re Lender to mcur any expense or take any act�on hereunder.
<br /> 'n :�' . � ' : 8. tnspecNon. Lender may make or cause to be made reasonable entries upon and inspections ot the Property_ .
<br /> •!�••.�•• prowded that Lender shaN grvo Borrower not�ce pnor to any such inspecUon specity�ng reasonable cause thorefor related i•. ,
<br /> �
<br /> � � � • to Lender's mterest�n the Property. •
<br /> �I�.�' ' • 9. Condemnatian.The proceeds ot any award or cla�m for damages.d�rect or consequentiai.��connecUOn v�dh any ! :
<br /> �.=_ ri_____... . �.i �I��.�nf nr 4nr rnnyavanrp irl I:PII n+ r.�n�iPmnation. arp her�by �� ..
<br /> COnpemr,dt�on or uiPier iakiny vt ihc t,v},c,�y. :.. ;,..., . . . - -
<br /> _ , ass�gnsd and shail be pa�ty to Lender. sub�ect ro the te�ms of any mortgage. deed of trust or otner secunty agreement wdh •
<br /> . �. � :3 I�en :tihiCh hdS Pt�O��ty Ove'tn�s Deed o+Trust .
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