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<br /> � Atay �tde.� ("dilder") a4¢ached Q�ereto tind exectttc� of even �ate 9s Ineorpmr�ted hereLi aad tke covenant nad ��� :
<br /> - �.,' agre.mersBs of ttte t8lder e�tnll amend a�d supp!¢me�t the cov�nts�►trs uYtd o�ce�etsts o�thfs Deed oP Teust,t�s tf s�`
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<br /> . � :� the Rides were a paet hereoi. -
<br /> Bomovrer coveutmis that Eorrower is lawfully seizsd of the eatate hereby conveyed ond has the r�ght to graut and convey �-,-T-,.
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<br /> . the Property. and that the Progerty is unencumbered. e�ccept for encumbraaces of record. Barrower covenanta that ,�^
<br /> Borrower w:�rrAnts and will defead gener�illy the dtle to 4he Property against all claims and demands, subject to G�_.,�:
<br /> ��s'� `' encumbrances of t+e�urd. �
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<br /> UIVI��RM COVENANI'�. Bornnwer and Lender covenant and agcee as foliows: �� °
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<br /> ..,� 1. Payadent of Pa�cipat and Interest. Borrov�er shall pmmptly pay when due the principal and interest indebtedness N•°--:
<br /> � evidenced by the Note and late charges as gmvlded in the Note. This Deed of Trust secures payment of sal�t Note d��`
<br /> _ acoordiq�to its terms.which are iacorporated hereia by reference. _
<br /> , � � 2. Ap�lk�tlon�8 Pey�menta. Unless applicable law provides otherwise,all Pay�eats received by D..ender under the _-
<br /> * Note and paragraph 1 hereof shall be applled by I,eader firat to interest due on the Note, second w the prl�cipal due _
<br /> ,. . .. �,� on the Note.and then to late charges due on the Note. a_
<br /> � .. „ � 3. Pcior Mortgages and Deeds of'I'rush, ChaiBes;Liens. Borrower shall perform al�of Borrower's obligattons. -
<br /> under any mcrtgage.deed of uust or c►ther secudty agc�eement with a liea which has priodty over this Deed of Tiust. ._
<br /> "�. including Borrower's covenants to make paymenta when due. Borrower shaU pay or cause w be paid all taxes,
<br />- � assessments and other charges, fines and imposittoas atulbutable to the Property which may attain a priorlty over this �
<br /> , " Dee�l of Tmst.aad leasehold payluents or�rouud rents,if any
<br /> k.`t q. ga.�rd Insurance. a) Borrower shaU keep the improvements now exiating or hereaRer erected on the Propercy _
<br /> ��.�,1 avain�lava by fire.ha�Ms lacluded altLia the term 'extended oovErsge". and any other hazards. including _
<br />_;�,;t�"�l _'; ° floads or flood.for�vi�ich I,ender requtres insurance. 79iis insureace shall be maintained in the amoumts and for me =-
<br /> , periods that I.ender tequires. The insuranoa cariier pmviding the insurance shall be clwsea by Borrower subjetx to
<br />=ry�;, ,: ,,, Leader's approval which ahall not ise uureasonably withheld. If Borrower fails w mai�ain coverage descrIbed above,
<br /> �:'�°�'�� Lender may,ai Lendes's optiom,olMain ooverage to protax Leader's rights in the Property i�►acaoYdance with paragcaph _
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<br /> •=r��''���w��'», b) All insurance policies and renewals shall be aoceptable to L�ender aud ahall fnclude a standaid �aoatgage clauss. is:.
<br /> _-� � � Lender shall Lave the right w bold the policies and renewals. If Lender requires. Borrower shalt pmmptly give to
<br />��.'':. } . Leader all reoeipts of paid premiums aad renewal notices. In the event of loss. Borrower shall give prompt to the
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<br />=��';;;�,,,�: insuraace c�rrier and Leader. Leader may meke proof of loss if not made pmmptly w Burrower.
<br />��� ra�is shaU be applled to restoiatlon or repair
<br /> --r.�;�,�.�1 c) Unlesa I.ender and Eorrower oiheraise agcee in wrIting.insurance P
<br /> ��.,,:::���•�•:a?�,�: of the Proger¢y damaSed. if the mstoration or re�air ia eoonomically feasible and I.eader's security is aot lessened. If
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<br /> --__ �,•�r;� the restoratton or re�air is not econamtcally feaaible ar L.eader's security woald be lesseaecl,�insurauce p
<br /> --�-����� be appli�w the sums secural by t�is Security Insnumeni.whether or aot then due.arith�auy excess paid to Borrower.
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<br /> _ If Boirower abaadons the Properiy or d�ues aot answer wit6in 30 days a aodoe from I,eader tHai the insarance eanler
<br />----�=:::�1x,i,;l`•. ' has offered to settle a claim.then l.ender may�collect the iasuraace pmoeecOs. Leader may use the proceeds to repair .�,,
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<br /> =;.o,-�--�:��..�� or xestore the Property or to pay su�ns secured bY this Sa�uritY TnstNment,whether or not then due. The 30-dxy gerlod
<br /> '�"`°""�"-"'�" will begin when the nodce is givea.
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<br /> -=-�='y-� d� gae�i as provided in subparaBraPh 4(e)below.suouid partiai or cvmpictc d�a�:it�n:,;daa�gc r^,.,cur io s�_ -
<br /> —���.�., � propeity,Bomower hemby agrees that aay aad a11 instruments evideacing insurance pmc�fs receive�by�der as a
<br /> ----�-�,�„' resWt of said damage or destn��tirn►.shall be placed in a aon-interest bearing escrow a000unt w3th Lender. At I.ender's
<br /> _ � •��`" dis�mtion, Lender may releasa same or aU of the prooee�is from escrow after Ba�v�er presents L�tder wlth a —
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<br /> __ _ -•_�,t receipt(s),invoice(s).wrltten estimetes(s)or othec doa�ent(s)aooePtabls W Lender wluch relates w the repair and/or
<br /> °_ , .� impmvements of the Property aecessary as a�ult of said damage azed/or desuucxion. Absent an agreemcnt to the
<br /> contrary�Leader shall noi be required to pay Barcower any interest on the prac�ds held ia the escmw acouunt. Arsy _-
<br /> affi�aES remeining in the a�after all repaits and/or improvements have been made to the Leader's satisfaaEon, _
<br /> - -.. � . .,�:�;��,;,.; s�aEl i�s applied w the sums ses�uzm�by this Deod of Tmst.Drxd to�Debt,or IVSo�e�age. Soreower further agmsES .
<br />_-'l . `�::3i�tf� w 000perate with Lender by endo:sing all.c�ecka.drafts and/or other insauments evidemcing insuraaoe proce�ds:a�tfl _
<br /> . � .�, any necessaq+d�eats. Should Borrower fail w provlde a�r z+equired�dnrsement and/or eacecudoa within thi�tY(30) ,
<br />�� � � days after Leader sends borrower aodce that Lxader has received an ims�unent evideacing insurance prooeeds. or -
<br /> _ .. :.�,;`�!��. dacnmcnt(s;�1�8 Bon+ocuer's signature�Eostower hemby authorizes Lender �o endmse said inst�ument aadlar _�-
<br /> - ��_�-_�-_`'� dacu�ent(s)on Bornowers�slf,and collect and apply said proceeds at I.eader's ogriaa.either to restoration or re�itr �
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<br /> �.. of the Pmg$rty or to sum4 setured by this Beed of T:ust.D�ed to seeure�ebc,vr ivior�gage. ii;a uvt iiti,u:�;,. v
<br /> - of either party that this escrew Provision,andlor Lsader's eado�sement or execution of an iasnvment(s) aad/or -
<br /> � " � . document(s)on behalf of Boimwer creaie a fiduciary or ageacy relationshlp betaoen Lender and 8orrower. F;:
<br />�- .. e) UWe�Lender and Bomo�rec otherwls�agree in wrlting.anY aPPlication of pmoeads to prIacipal shaU aot ext�nd �
<br />__ . or postpoae the due date of the montWy payments referred to ia PaTagcaPhs 1 and 2 or change the amount of the
<br />- paymenta. If under par�graph 16 the Propeity is acquired by I.eader, Borrower's right w any iasuremoe policies and �-�:
<br /> pmceeds resuit3ng from damage to the prop�cty prior to the acquisition shall pass to Leader to the extent of the sums ��.
<br /> - •• setuted by t}tis Security Insuume�.
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