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JOEL B SHAPER JANELL K SHAFER ��� �C���2 2015420 O1/15/1999
<br /> UN[FORM COVENANT'S. Borcawer and Txnder covenant and a^ree as foliows:
<br /> 1. PayTnent of Principal anci int�Y. Bosrower shall p:ou�tiy pay w�en due the principal and interest
<br /> indebtedness evidenced by the Note a�late charges as provided in the�Iote.
<br /> 2. Fwids fnr Taxes and Insurance. Subjece ta applicable law or a wc-itten waiver by Lender, Borrower shall pay to
<br /> Lender oa tt:e aay monthly payments of pri�ipa!and inttrest ue payable ur�er the Note, until the Note i�paid in full, a
<br /> sum (herein °Funds') equal to one-twelftn of the yearly taxes and ass�ssments (is�cluding cundonvnium and �iaiueed unit
<br /> development assessmr,nts, if any} which may atsain priority aver this Deed of Tnisc, anc, gmuno rents on the Propeny, if
<br /> any, plus one-twelfrh of yearly premium instailmenu for hazard insurance,pfus one-twelfth of yeariy prenuum iiutallmeuts
<br /> for u►ortgage insurance, if any, a�l as reasonably esrimated inivalfy and fram tin�e to time �i� Lender on d1e basis of
<br /> assessments and bills and reasanabie estimates th�reof. Borrower shall �t be ob}igated to make such payn�ents of Funds
<br /> t�Lerxier to¢he excent that Borrower malces such paymencs to ths holder of a prio*a�rtgage oc der.a of trust if sucli hotder
<br /> is an snstitutionai lender.
<br /> If Borrower pays Funds to I.ender, the Funds shall l�e held in an institurion the dep�sits or acc�unts of wliich are
<br /> insured or guaranteed by a Federal or state agency(ineluding Lender if Lender is such an insdtution). I.eexler shall apQly
<br /> the Fi:nds to pay said tazes, as,�ssments, insur3nce premiums and graund rsnts. Lender may not charge for so holding aiid
<br /> aFply'sng the Funds, analyzing said account or verifying and compiling said �ssessn�ent� and bills, uciless Ixnsler pays
<br /> Borrowex interest on the Funds and apglicable taw pes�n�ts Lender to make si.ch a ci�arge. Becrower and L.ender n�ay agree
<br /> in v��riting at che tiine of exccuaon of this Deed of Tnut that intecrst on tbe Funds shall be paid to Barrower, aiid uciless
<br /> suct,i agre�ment is made or applicable law requires such in¢erest to t;c�id, Lender slizli ni,:be require� ro pay Sorrower
<br /> any interest or earnings on the Funds. Ixnder st�al� give to Baaowes, without charge, an ann�a! accounting of die Funds
<br /> showing credits and debits to the Fund� and the purpu�..e for wh'sch each debit to the Funds was made. The Fuucls arr
<br /> pledged as additional�curity for t�e snms sccured by this Deed�f Trust.
<br /> If the amount of the Fu�u;s held by Lender, together wich the future monthly instaltn�ents of Funcls payahle prior to
<br /> the d«e clates of taxes, ass�,sments, insurance premiums as�d gmunct rents, shail exceed the anxaunt requiredato pay said � ._
<br /> raxes, assessments, insuramce premiums and ground rents as they fall due, such excess shali be, at Bnrrow�c's optiun.
<br /> either prompdy repaid to Borrower or credited to Bormwer on monthly instaiiments u�,=unus. 1,`'t��amau�u�t�tf�e ���s�s
<br /> held by Lender shalt �t be suf6cient to pay tazt�s, assessments, insurance premiums anc! gmund rents as they fail due,
<br /> Borrower shall pay to L.cnd�r any anwune necessary to make up the deficiency ia one or more payments as Le�i�er nwy
<br /> reyuire.
<br /> Upan payment in fu31 of all sums secured by this Deed of Trust, Lender shall promptly refund to B�rrower a»y Funds
<br /> helci by Lender. If under�angraph 17 6ereo�the Properry.is sold or the ProFercy is otl�erwise acquired by Lender, Le�ider
<br /> shall apply, �o later ehan inunediately priar ro the sal� of the Pmperty or its acquisition by Lxnder, any Funds helc! by
<br /> Lender at t}�e tiufe of application a;a credit against the s�.ims securea by this Deed of Trust.
<br /> 3. Applizatlon of Paymenis. Unless apglicable law pmvides otherwise, all payments received by l..ender utider d�e
<br /> Nate and paragraphs 1 and 2 hereof shaq be apgiied by Lend�r first in paymeat of amounts paya�le to Lender by Borrower
<br /> ui�der paragraph 2 hereof, then to interest payable otrt}ae Note,and tken to the principal of the Note.
<br /> 44. Frior 1�lortgages and Ueeds of Tru�si; Charges; Liens. Borrawer shall perforn� all of Borr�wer's obligations
<br /> udider any niortgage, deed of trust or other security agrerment wich a lien which has priority over tliis Deed of Trust,
<br /> inctuding Borrower's covenants to make pay-menES when due. Borrower sha�i pay er cause to be paid ail taxes, assessni�nts
<br /> and o�l�er charges, fines and impositions attributahle to the Praperty which may attain a prior,'ty over this Deed uf Trust,
<br /> znd leasehold payments��r ground rrnts, if any.
<br /> 5. Hazard I�seu�ance. Aonower sha�l keep the improvements now existing or hereafter erected on the ProPerry
<br /> insured against loss by fire, haTards includad within the tem► "extended caverage", and such other izarards as lxnder n�ay
<br /> reguire and in such amounts and for such periods as Lender may reQuire.
<br /> `I'he insurance carrier provid'ang the insurance shall be chosen by Borrower s�:bjPet to approval by I.ender; provided.
<br /> tlzat svch approvai shall n�ot tse unreaso�abiy withheld. All iasurance policies and renewals thereof shall tx iu a fonn
<br /> acceptable ta Lender and�hall include a sta��dard nrortgage clause in favor of and in a form acceptable to ixnder. Lender
<br /> shall have the right ro hold tlte policies and renewals d�ereof, subject ro d�e ternu of any nwngage, deed oF trust or other
<br /> security agreement with a lien wl�ich hxs priority over�his Deed of Trust.
<br /> fi► the event of loss, Bonower sl�all give prompt notice to d�e ii�surance canier and Leiuier. IxizJrr n�ay n�ke prcx>f
<br /> of loss if not made promptly by Bc�rrower.
<br /> lf the Froperty is abandaned by Barrower, or if Botrower fails to responci to L.ender within 30 days from the date
<br /> notice is maiied by l.ender to Borcower that the insurance camer offers to settle a claim for i�uurarxe be��efits, lxnder is
<br /> authorized to collect and apply th�insuramce proceeds at l.ender's opuon either to resturation or repair of tl�e Property or
<br /> to the sums secured by this Dee�.i of Trust. �
<br /> 6. Preservatlon and NYalntenance of Properey; Lease�solds; CondomWuitas; Pfanned Unit Developments. �
<br /> �rrower sha11 keep �he Proper[y in good repair and shall not cammit waste or pemut impairmene or decerioration of d�e �
<br /> Praperty and sl�all comply with the provisions of any lease if this Deed of Tnut is on a teasehold. If this Deed of Trust is
<br /> on a unit in a condomiivum or a planned unit development, Borrower shall perform all of Borrower's ob�igatioiu under tl3e �
<br /> declaration or covenants creating�r governing ihe condomiaium or planncd unit development, the by-laws and regulatio�u �
<br /> of the condominium or planned unit development,and constituent documents. �
<br /> 7. Prntectlon of I,ender's Security. [f Borrowec fails to perfotm the covenants and agreements contained in tliis 1
<br /> Deed nf 7rust,or if any actioa oc proceeding is cornmenced which materially affeets Lender's interest in the Qrupeny, tl�en
<br />�� Lender, at I.ender's option, upon notice to Borrow�r, may make such appeara�es, disburse such sunu, including
<br /> reasonable attorneys' fees, and take such ac�ian as is necessary to protect Lender's interest. If Lender required mortgage
<br /> inscvance as a co�c;ition of making the loan secure�i by this Deed af Trust, Borrower sl�all pay ihe premiunu required to
<br /> ❑�aintain svch ie�urance in effect undl such time as th� rcc�uirement for such insurance teruunates in accordance witli
<br /> Borrower's and Lender's written agreement or applicable law.
<br /> Any amuunts disburscd by L.ender pursuant to this paragraph 7, with interest therron, at the Note rate, shall beconx
<br /> additiona! indebtedness of Borrow�r securcd by ttus Deed of Tcust. Unless Borrower and L.ender agree to other ternu of
<br /> payment, such amvunts shall tr_ pa�able upon notice from Lender to Bomower requesting payment thereof. Nothing
<br />'�i coi�tained in this paragraQh 7 shall require l:e�der to i�ur any expense or take any actian 6ereunder. ,
<br />� 8. Inspectton. Lender may maka oir cause to be made reasonable entries upan and inspections of th� Propert}�, �
<br /> provided ehat I.e�ier shall give Borrower:nopce priar to any such inspection specifying xeasonable cause therefor,related to
<br /> Lendee's interest in the Propenty.
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