|
r
<br />any Future Advances.
<br />4. Charges; Lions. Borrowers shall pa all taxes, assessments and *# at charges. lines and impositions altdbutabletothe
<br />Property which may attain a priority over this Dead of Trust, and leasehold payments or ground rents. if any, in the manner
<br />provided under paragraph 2 hereof or, If not paid in such manner, by Borrower making payment when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all noHrop of amounts due under this paragraph, and in the went
<br />Borrower shall make payment directly. Borrower shell promptly furnish to Lender receipts evidencing such payments•
<br />Borrower shall (promptly discharge any lien which has priority over this Deed of Trust provided, that Borrower shall not be
<br />required to dischargeenysuch lien so long as Borowershall agree In writing tothe paymenlof the obligalia•n secured bysuch
<br />lien in a manner acceptable to Lender, or shall in good faith contest such lip in by, or defend enforcemenq cl such lien in, legal
<br />proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Hazard Insurance. Borrower shall keep he improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage". and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require; provided that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Dead of Trust
<br />This insurance carrier providing the Insurances hell be chosen by Borrower subject to approval by Lender, provided,thal
<br />under paragraph shall ereof or. i1 not paid in such withheld. by insurance
<br />making policies yent whlenn due directly to he insurance
<br />carrier.
<br />All insurance policies and renewals thereof shell be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and Inform acceptable to Lender. Lender shall have the right to hold the policies and renewals thereoll.and
<br />Borrower shall promptly furnish to Lender all renewal noticesand all recelptsof paid premiums. In the event of loss. Borrower
<br />shall give pror pi notice tothe insurance carrier and Lender. Lender may makeproef of loss it not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall beapplied to resgmadon or repairol the
<br />Property damaged, provided such restoration or repair Is economically feasible and the security of th is Dead of Trust Is not
<br />• (hereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Trust would be
<br />impaired, the insurance proceeds shell be applied to the sums secured by this Deed of Trust, with the excess, if any, paid to
<br />Borrower. If the Property is abandoned by Borrower, or II Borrower falls to respond to Lender within 30 days from the date
<br />notice is mailed by Lender to Borrower that the insurance carter offers to settle a claim for Insurance benefits, Lender Is
<br />authorized to collect and apply the Insurance proceeds at Lender's opt,un either to restoration or reps it of tho Property or to
<br />the sums secured by this Reed of Trust
<br />Unless Lender and Borrower otherwise agree In writing an such application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly installments referre� to In Paragraphs 1 and 2 hereof or change he amount of such
<br />installments. If under pareAreph 18 hereof the Properly Is acquired by Lender, all right, title and Interest of Borrower In and to
<br />any insurance policies and in and to the proceeds thereof resulting from damage to the Property prlorto the sale or acquisition
<br />shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or acquislGon.
<br />8. Preservation andtllalnlenancoof Property; Leaseholds; Condominllums; Planned Unlloovelolpments .Borrowershall
<br />keep the Pr%" in good repair and shall not commit waste or Perm PI imp aliment of deterioration c�411he Property and shall
<br />comp)y with the provisions of any lease it this Deed of Trust Is on a leasehold. If this Deed of Trust Is on a unit Ina condominium
<br />or a planned unit development. Borrower shall perform all of Borrower's obligations under the declaration or covenants
<br />ccteabng or governing the ccrdaminl im or planned ur.t development, the by-laws and regulations of the condominium or
<br />Boarrov er anld recorded together with Deed o Tnisi.,Ihe covenants and agreements g unit of development rider is
<br />shall be In orpoated
<br />into and shalt ainerd and supplement the cdtiarants and agreements of this Deed of Trust as it the rider were a part hereof.
<br />7. Protei lion •ot Lender's Security. II Borrower fails to perform the covenants and agreements c c ntained in Ibis Deed of
<br />Trust, or if any aztior. w proceeding Is commenced with materially affects Lender's interest in the Property. Including but not
<br />limited lo, emmem tiorram "Solvency, code enforcement, or arrangemerls i:r proceedings involving a bankluplo r decadent,
<br />then Lender at Lender's opl n. upon notice to Borrower, may make sucr` appearances, disburse such sums and Rake such
<br />action as is necessary to p7msart Lender's interest Includingp, but not limited lo, disburserverr of ,reasonable ancilmoy's fees and
<br />entry upon the Property to make repairs. It Lender requiredmort age Insurance as a ccc d t W a of ?sale lrg the loan secured by
<br />the Deed of Trust. Borrower shell pay the premiums required to maiv%a.•.n such insurance In eftece. unlit such time as the
<br />requirement low such insurance terminates in accordance with Borrower's and Lender's written a yea mentor epplicelbe law.
<br />Borrower shall pay the amount of all mortgage insurance permiums l r, tno manner provided under paragraph 2 hereof.
<br />•n. ameuari t disbursed by Lender pursuant to this paragraph ". with interest thereon, sna.i become additional
<br />•__ ___� _....ti
<br />indebtedness of Borrower secured by this Deed of Trust Unless zwrrower end Lender egress to uv,oi ivi,T.o v. i,., p.....• ......
<br />amounts shall be payable ripen notice from Lendee to Boeec.wer requesting payyment hereof, and shall bear Interest from the
<br />date o) dlabursemenf a1 the rate payable from time to trm,- on outstanding wincipal under the Note unless payment of interest
<br />permissible under applicable aw tW AIrig co sin d in thisiparag paragraph shall require Lender to incur aoy extpe se highest
<br />r take any th
<br />action hereunder
<br />Inspection. Lender may make or souse to be made reasonable entries upon and inspections of the Property, provided
<br />S. Thal Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefore related o Lender's
<br />Interest in the Property.
<br />follows: 90 - --107265
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as
<br />1, payment of Pr)rtclpal and InlereeL Borrower shall promptly pay when due the principal of and Interest on the
<br />indebtedness evidenced by the Note, proptilymentorld late chargesas pro AW In the Note, and the principal of and interest on
<br />any Future Advances secured by the Deed of Trust.
<br />�. FundstorTaxesandlnsuranee. SublleeltoapplicablelawortoawritlenwsiverbyLander .BorrowershallPaytoLender
<br />the day monthly insiallmenUof principal and interest are payable underlhe Note, until the Note is paid in full,a sum(ltwein
<br />l .
<br />„
<br />on
<br />"Funds") equal to one•twalflh of the yearly taxes and astimmente which may attain priority over this Dssd of Trust and
<br />insurance, one- twelshof
<br />ground rents on the Property, ilany, plus one twelfth olyysarly premium lnstallmentsfor hazard plus
<br />Yearly premium installments for mortgagpee insurance, if any, all u reasonably estimated initially and Iran time to time by
<br />on the basis of assessments andbills and reasonable admalas thereof.
<br />lender
<br />The Funds shall beheld In an institution the deposits or accounts of which are insured or gpuaranteed, by a Federalor slsto
<br />agency (including Lender it Lender is such an Institution). Lander shall apply the funds to y Bald taxes, assessments,
<br />for the tMunds sold account
<br />insurance premiums and ground rents. Lander nay not charge soholdinpandappiling .anayzUg
<br />erilyigandcompngsaidassesementsandbills ,unionLanderpa sl owerinlerosiontheFundsandapplic &WWatsw
<br />LendermayagreslnriNng et11w fme of execution ollhls OeW
<br />dertomaka such a charge. Borrower and
<br />iterest or+ the Funds hall ro, and unless sucearesl
<br />tnat
<br />to bepaidlender shall ot pay Borrower any tiatast rows, vrillnout charge, one nnual account rng of the Funds showwi1�f� credits and its to Ilia Funds and one�vpvse
<br />tM Funds The Funds areplsdgad as addilbrnatsecurity for ttwsumsaecwedby 11nisDead of
<br />which each debilb wasmsde.
<br />Trust her with the future monthly installments of Funds payable pile W the dw
<br />11 the amount of the funds Mid by lender, togN
<br />dsles of taxes. assessments. insurance premiums and ground rents, sW exceed the amowN required to Pay sold taxes.
<br />fall dui, excess shag tie. at Borrower's option• eliner
<br />assessments, insurance premiums and brournd rents as tMy such
<br />to Borrower on own" installments of Funds. d the amount of the Funds held by
<br />Promptly repaid to Borrower or credited
<br />Lender shall notbesulllcient lopaytaxes, assessments, insurance premums and ground rentsastheyfaildus. Bonoweraha1l
<br />to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed by Lender to
<br />pay
<br />Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Dead of Trust, Lender shell promptly refund to Borrower any Funds held by
<br />Lender. It under paragraph 18 hereof the Property is sold or he Property isotherwrseacquired by Lender. Lender shotOWy,
<br />its Lander, and Funds held by Lender at the bale of
<br />no later than immediately prior to the sale of the property or ac uisillonby
<br />Deed Trust
<br />application as a credit against the sums secured by this of
<br />3. Application of P&V�~nteeta. Unless applicable law provides otherwise, all payments received by lender under the Note
<br />2-hereof be applied by Lender first in payment of amounts payable to Lender by Borrower under
<br />and paragraphs 1 and shall
<br />paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interestand principal on
<br />any Future Advances.
<br />4. Charges; Lions. Borrowers shall pa all taxes, assessments and *# at charges. lines and impositions altdbutabletothe
<br />Property which may attain a priority over this Dead of Trust, and leasehold payments or ground rents. if any, in the manner
<br />provided under paragraph 2 hereof or, If not paid in such manner, by Borrower making payment when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all noHrop of amounts due under this paragraph, and in the went
<br />Borrower shall make payment directly. Borrower shell promptly furnish to Lender receipts evidencing such payments•
<br />Borrower shall (promptly discharge any lien which has priority over this Deed of Trust provided, that Borrower shall not be
<br />required to dischargeenysuch lien so long as Borowershall agree In writing tothe paymenlof the obligalia•n secured bysuch
<br />lien in a manner acceptable to Lender, or shall in good faith contest such lip in by, or defend enforcemenq cl such lien in, legal
<br />proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Hazard Insurance. Borrower shall keep he improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage". and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require; provided that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Dead of Trust
<br />This insurance carrier providing the Insurances hell be chosen by Borrower subject to approval by Lender, provided,thal
<br />under paragraph shall ereof or. i1 not paid in such withheld. by insurance
<br />making policies yent whlenn due directly to he insurance
<br />carrier.
<br />All insurance policies and renewals thereof shell be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and Inform acceptable to Lender. Lender shall have the right to hold the policies and renewals thereoll.and
<br />Borrower shall promptly furnish to Lender all renewal noticesand all recelptsof paid premiums. In the event of loss. Borrower
<br />shall give pror pi notice tothe insurance carrier and Lender. Lender may makeproef of loss it not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall beapplied to resgmadon or repairol the
<br />Property damaged, provided such restoration or repair Is economically feasible and the security of th is Dead of Trust Is not
<br />• (hereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Trust would be
<br />impaired, the insurance proceeds shell be applied to the sums secured by this Deed of Trust, with the excess, if any, paid to
<br />Borrower. If the Property is abandoned by Borrower, or II Borrower falls to respond to Lender within 30 days from the date
<br />notice is mailed by Lender to Borrower that the insurance carter offers to settle a claim for Insurance benefits, Lender Is
<br />authorized to collect and apply the Insurance proceeds at Lender's opt,un either to restoration or reps it of tho Property or to
<br />the sums secured by this Reed of Trust
<br />Unless Lender and Borrower otherwise agree In writing an such application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly installments referre� to In Paragraphs 1 and 2 hereof or change he amount of such
<br />installments. If under pareAreph 18 hereof the Properly Is acquired by Lender, all right, title and Interest of Borrower In and to
<br />any insurance policies and in and to the proceeds thereof resulting from damage to the Property prlorto the sale or acquisition
<br />shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or acquislGon.
<br />8. Preservation andtllalnlenancoof Property; Leaseholds; Condominllums; Planned Unlloovelolpments .Borrowershall
<br />keep the Pr%" in good repair and shall not commit waste or Perm PI imp aliment of deterioration c�411he Property and shall
<br />comp)y with the provisions of any lease it this Deed of Trust Is on a leasehold. If this Deed of Trust Is on a unit Ina condominium
<br />or a planned unit development. Borrower shall perform all of Borrower's obligations under the declaration or covenants
<br />ccteabng or governing the ccrdaminl im or planned ur.t development, the by-laws and regulations of the condominium or
<br />Boarrov er anld recorded together with Deed o Tnisi.,Ihe covenants and agreements g unit of development rider is
<br />shall be In orpoated
<br />into and shalt ainerd and supplement the cdtiarants and agreements of this Deed of Trust as it the rider were a part hereof.
<br />7. Protei lion •ot Lender's Security. II Borrower fails to perform the covenants and agreements c c ntained in Ibis Deed of
<br />Trust, or if any aztior. w proceeding Is commenced with materially affects Lender's interest in the Property. Including but not
<br />limited lo, emmem tiorram "Solvency, code enforcement, or arrangemerls i:r proceedings involving a bankluplo r decadent,
<br />then Lender at Lender's opl n. upon notice to Borrower, may make sucr` appearances, disburse such sums and Rake such
<br />action as is necessary to p7msart Lender's interest Includingp, but not limited lo, disburserverr of ,reasonable ancilmoy's fees and
<br />entry upon the Property to make repairs. It Lender requiredmort age Insurance as a ccc d t W a of ?sale lrg the loan secured by
<br />the Deed of Trust. Borrower shell pay the premiums required to maiv%a.•.n such insurance In eftece. unlit such time as the
<br />requirement low such insurance terminates in accordance with Borrower's and Lender's written a yea mentor epplicelbe law.
<br />Borrower shall pay the amount of all mortgage insurance permiums l r, tno manner provided under paragraph 2 hereof.
<br />•n. ameuari t disbursed by Lender pursuant to this paragraph ". with interest thereon, sna.i become additional
<br />•__ ___� _....ti
<br />indebtedness of Borrower secured by this Deed of Trust Unless zwrrower end Lender egress to uv,oi ivi,T.o v. i,., p.....• ......
<br />amounts shall be payable ripen notice from Lendee to Boeec.wer requesting payyment hereof, and shall bear Interest from the
<br />date o) dlabursemenf a1 the rate payable from time to trm,- on outstanding wincipal under the Note unless payment of interest
<br />permissible under applicable aw tW AIrig co sin d in thisiparag paragraph shall require Lender to incur aoy extpe se highest
<br />r take any th
<br />action hereunder
<br />Inspection. Lender may make or souse to be made reasonable entries upon and inspections of the Property, provided
<br />S. Thal Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefore related o Lender's
<br />Interest in the Property.
<br />
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