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<br /> r. . �go��}���� (Page 2 04 5) '
<br /> � ' • TOGETHER cvith aU the improcements non or hereafter erected on the property. and all easement�, n�hts, .
<br /> . �, . ', appurtenances and rents (suh�ct honecec to the rights und authorities given herein to Lender to collect and apply such
<br /> • , rents).sDl of�shich sAall be deemed tio be und remuin a part of the pmgerty covemd by this IJeed of Trus�and all of the
<br /> �. foregaing, together c�ith said propertj (or the learehold esu►te if this Deed of Trust is on a leasehold) are hereinafter
<br /> `: � ; referced to as the"PropFrty." , ,
<br /> � � ' � . ` { gorrorler co�enaats that BarcoNer is lacvfully seised of the estate hereby con�'eyed and hsiss the right to grant and convey a
<br /> • � the Property. aad that the Pr�perty is unencumbered escept for encumbrances of s�ecord Borroner covenants 4hat
<br /> , . gorconet nrIIrranLs and �ill defend generaily the title to th$ Propertp against all claims and demands, subTect to
<br /> . i encumbrances of record. . `.' � • +,
<br /> ' ' ; UIv'IFOR�1 CflVEiir1.�`TS.Barroner and I.ender cozenaat aad agec as follocs� . � `
<br /> - - = ' !.Pa3�ea! of Princi�at and Inteeest. Borcocver shali promptly pa; cshen due the principal and interest _ _-L
<br /> indebtedness eci�enced br the :�iote, includin� any cariations resulting from changes in the contnct race, aad other L� ,,,._
<br /> • cbarges as pro�'ided in the�ote. �'��-�°
<br /> � 2.Funds for Tases saA I�►saaance• Subject to applics�ble lac�or nrriteen naicer by Leader, Bortocver stiall pay to �-=�:
<br /> ��....-
<br /> � Lender on the daq monthly payments of princiPal and iaterest are payable unaer the Note,until the Note is p�sid in full, =.__
<br /> ; a sum (herein"Funde"I eq�ta one�elfth of the pearly tages aad s�smen�(including vondominium aaid plaaned ��;:�
<br /> unit development a�essmenss. if aay) �vtuch may attaia priority over this Ueed of Tn�st, and grouad reats on the t`�.;==
<br /> �,�..-
<br /> . ' Property, if anp, plus one-Rvelfth oi the yearly premium inetallments for hazard iasurance, plus one-tcvelfth of yearly �--
<br /> `;� premium iastaUments for martgage iasurance, if any,nabl esti'�mat�e,sbthersof �airower shallAnot be obligated to make -
<br /> . ents and bills and r�n ��:��-_
<br /> � - Leader an the basis of�sm �,—�_
<br /> � ' such papments of Fuads to Lender ta the estent that Borrower makes sach payments to the holder o�a prior mortgage F M_--
<br /> or deed of tnrst if such hnlder is ac►institutional lender. F F �
<br /> , �.<� --
<br /> � `"` . '�. If Bortoner pays Fuads to I,�ttder. the Funds shall �e he l d in an insti t u t ion t E�d e p o s i t s o r s o c ounts of �vhich are �T;"_
<br /> . .. � insuted or guaranteed bp a Fe�saf or state agencY(incli;.diag Lender if Leader is sucYi an institutioa).I.ender shali aPP1y =_
<br /> . __ --�T. the Fuads w pay said tases.assessments.iasuraace premiums and ground renes.LeBder may not charge for so holdia� '_--
<br /> � .�.� aad applyiag the Funds.analyzing said account or verifying and compiling said as�me��s and biUs,ualess I.ender PaSs �`ti_
<br /> $atro�ser interest on tAe Funds aad applicatle la�v permits Lendec'to make such a charge.Borro�ver and LendeT mag _
<br /> � ! agrw sn writing at the time of eaecirtion of this DEed of Trust that interesR on th�Funds sha31 be paid to Bornnwer.aa� �
<br /> ' �!Q a ent is made or a plicahle law requires such interest to be paid, Lender shall not be required to paY �^
<br /> unle�s�ch greem P
<br /> ' -_ .�.�I Borro�ver any intetest ot eamin�on the Fuads.I.ender s b a l l give to Bmrower,wi t ho u t c h a r g e,a n a n n u a l a c c n u n t i n g o f _—
<br /> . , � �� the Funds showing cre�its aad debits to the Funds aad the puYpose for Rtsich cach debit io the Func�s wag mede.The � _:--
<br /> I Fuuds are pledged as additioaal secvrity fcr the sqtms secured by tifs Dzed of Trust.
<br /> ' ' If the amount of the Fuads he l d bp L e n der.toge t her c vi t h t h e f u t u r e m o a t h l q i n s t a l l m e n�a f F u a d s p a p a b l e p r ior to
<br /> . � ��:�- the due date.s of tases.a.�m.eats,insvrance premi�cas aad ground rents,shall c��eed the a aount requis�3 w pay said
<br /> , . � �ses,asse�ments, ;nsurance�remiums and ground re¢*s as theq fall dus,suci�c�.:ess shali be.at Borrocver's ontion,
<br /> ' either promptlq repaid to Borroc�er or credited to Bflr�'���on moathly iastal::nents of Funds.If the amount oY the
<br /> . .. �� Fuads hel�bg L�ader sha11 aot tse sufficient to pay taa�s,ar�ssa:ear�insuraac�premiuins and ground reats as they fall
<br /> � due� ]3a�rower::I.�°.gay to Leader anq amaunt neces.�rY to make up the de�ciescy ia one ot more paymenb as Lender
<br /> . � ''P.S;:.',.•� r
<br /> ma, �roquire.
<br /> `';'?:; � Upon payment in fuU oY a11.sums secur�by this Deed oi Trust.Lender shall p�mptly refuad to Borrower aay funds
<br /> . ' held by Lsnder. If tmder paragraph 17 hereof the �mpertY is sold or the PrBFertY is othecsvise acquired by Lettder,
<br /> . ' � 1,endet sbaU apply,no later than immediat�ly prior to the sale of the Property or its acquisition by I.eades,any Funds
<br /> held by Lender at the time of applicutica,:3s a credit against tAe sums secured by this D�d of Trust.
<br /> ,.: �. ' 3.Application of Paymengs. Unlesa appiicable law pros+ides othemrise.all payments recerved bp Lender undar the
<br /> em
<br /> . 1�W� and paragraphs 1 and 2 hereof shall be applied by Lendet first in payment of amounts payable to Leader by
<br /> , Borrawer undec paragraph 2 hereof.then w intemst paYable on the Note at the applicable conttact rate, and then to the
<br /> _ ." , ..� pr3ncipal of the Note.
<br /> � . . 4.Prior 11la��,�eges and Deeds of Trust; Charges; Liens. IIacrower shall perEarm a11 of Borrower's obligations
<br /> � ;�. :�' ;:,ndcr, any mortgage.deed cf trust or other security a�rrement cvi:i� a lien�vtuch hss priority over ttus Dsed o4 Tsust,
<br /> _�';�;';;, i�tr:+�.u3sllg BOfiONef'8 COVEIU3�1.''S LO make paymen� ;vi.=_en due. BorroNer �l�it pay or cause w be paid all tases,
<br /> - ' �:�- • as�essments and other charges,fines and impositions•a:�ributable to the Property which may attain a priori4y over this
<br /> �' • �• . �' � ' Deed of Trust,and leasehold payments a:�aund rents,if any.
<br /> �I tl.�-- • = S. Hazard lnsurance. Borrovrer sh:Jl haep the improvements now existing or hereafter erecte�l on the Prvperty
<br /> "' � _ : �. • insured against loss by fin.1`a�ards inci;.�ed within the term "eatended coverage." and such other hazards as I.ender ^
<br /> m;.r require and in such arrcu�z�s aad for such periads�s Lender may require. roval b I.ender:
<br /> � iheinsurance carrier pr�•riding the insurance -na]1 be chosen by the Barrower subiect w aPP Y �_
<br /> � ' provid�,that c��ch approval shall not be unreasonably withheld.All insvrance policies and teue�vals thenzof shall he in a �
<br /> �.� form acceptab�n �o I.e n der an d s h�l l i n c l u d e a s t a a d a r d m o rt g a ffe c[ause in favor of and in a 4orm uccepable to T.c.ndcr. -
<br /> ,, • ,�, I,e�^3er shall L•.:•:+::ir_e right Lo hold the policies and tene�rals tS�e�t,subject ta the tetms oi any mort�ge.�..c��4�r�� _
<br /> �� � er�;rl•pr sec�rti:T� agreement ,:i�'�a lien cvhich has pricrity o�er this Beed af TnaSr.
<br /> Isz ��e e�.'en7.��f loss.Borv'�e:shall give prompt nc�:ce to the irsurance ca.ttir.r and Lender.Lender�r.ay make proof �_-__
<br /> • ,Fi';,� of':r.i�if r.at mnde promptly by Borroa er. "";�.
<br /> 1�,,�� Un�ess Lenei�r aad Borro�ver other�':i���gree in cvriting,insurance proceeds shall be aprlscyi tn r�toration or repuir of ,;
<br /> • tI-.P Psoperty damaged, ii t�e restoraticca or repair is economically feasible and Lender s sc�,vrity is not lessetted. If t�te ��;;:�
<br /> r�tcration or repair is no2 ecoaomietilly feasible or Lender's security wauld�e 1cFSened,th�insurance Fraceeds shull be ::;.
<br /> _ . �. ;_..
<br /> a�;ied to the sums secured by tlus Security Instrument,ahether or not then due, with anq eace�paid.to Borrower. If
<br /> Borro�+rer aban4'�ons the PropertY.or daes not anscver�vithin 30 days a notice from Lendrr tH.at the insuran�e carrier ltas . �:
<br /> . . offered to settle a cluivn. then Lender rnay colla:t the insurance proceeds. Lender maS� use the pracesds to rePrur or .,.-_.
<br /> • reatore the Property or to pay suma secuted by this Security Ynstrument.cvhether or not then dae.The 39p'�ay p�od o>ill
<br /> � � ' � begin cvhen the notice is�i�•en. ��',
<br /> If the Property is abandoneil by Bononer,or if Barroner fails to respand to Lender within 30 driy�s From the drate �
<br /> notice is mailed by Lender to BorroNer that the insurance carrier offers to ssttle a claim for insurartce benetits. Lender �F,�
<br /> is authorized to collect and apply the insurance proceeds at Lenders option either to restoration or repair of the ��ry�
<br /> . Property or to the sums sscured by this Dee�ot Trust. _
<br /> . , - '. � � 00-30-BZ Oand of Truat t1E pRIGIl;AL I�",����,�11„�"„" P.eW7922 -.-
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