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<br /> 1'OC�ETHER wtth all tho improvementa now or hereaftsr erected on tt►e PmPortY. an�1 �►1� �ements,.t4ghts,- �r
<br /> appurtenunces and rents(subject hocvover w tha ri�tite and nuthorities�iven hereta to Lander to collect and appiy euch
<br /> tents),nil 04 which shall bs deemed to be and temaia a purt of tha propertY covered by this Deed oi Trust;nnd all of tho �_
<br /> „ forogoing,to�ether with eaid property (or tha leosshotd estate if thia Deed of Trust is on a leasehold) are hereinaiter ��.�-
<br /> referred to ae tho"Ptoperty." t and coavay °
<br /> Aonower covenente that Bonocver ie lawiully seised o4 tho estata hereby conveyed and has the right to grnn �
<br /> the Yroparty� and 4hat the Property is uaencurnbered except !or encurnbrunces of record, Borrower covenunts that _
<br /> Borrower worrants and will defend generally the tltte to the Property�a�atnat all claime aad det�nands, oubject to _
<br /> �� . eaeumbrencea o4 record. �•
<br /> � � , UTIIFORM COVENANTS.Borrower end Lender covanant ead agee as tollowe:
<br /> -� ;
<br /> . .,� . ; �.Pay:neat of Principel and Intorest. Bmrower shall promptly pay when due the principal en� inter�st _
<br /> indebtedness evidenced by the Note, including any varlations resultiag from changes ia the contract rate, and other __-
<br /> charges as provided ia tha Note. `-�
<br /> 2. Funda for Tages sad Inaursnce. Subject w applicable law or wdtten waiver by Leader, Borrower shall pay to _
<br /> Lender on the day monthly paqments of principal and interest are payable under the Note.until the Note is gaid in fuU, �•--
<br /> a sum (herein "Fuads")equal to ona-twelfth of the yearly teses and easeasmeata(iacluding coadominium and pinnned R�
<br /> �, unit development assesamente. If anY� Which may attetn priorlty over thie Deed of Truat. nnd ground reats on the ____
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<br /> _ .�rr�,�a�p��,� ' property, if any. plus one-twelfth oi the qeacly premium instalimeats for hazerd insuranca, plus one-tevel4th of yearly
<br /> pramium iastallmente for mortgage insurance, if aay, e11 ae reasonably estimated iaitially and from time to time by `._
<br /> ' '" I.eader on the basis of assessments aad bills an�l reasonable estimates thereof.Borro+ver shail not bo obligated to meke
<br /> . �;.�.
<br /> � seich paymeata of Fuada to Leader to the astent that Borrower makes such paymenta to tha holder of a prior mortgage =-_
<br /> :•�: or deed of trvst if auch holder ia an institutional lender. �-
<br /> � �;';�'����`�- If Barrower pays Funds to Lender, the Punda shall be held ia an iastitution the deposite or accounts of which are �.:�
<br /> � ine u r e d or guaranteed by a Federal or stata a gency(including Leader if Lender is such an inetitution). Leader ehell apply R�.
<br /> � ' tha Fuads to pay eaid tases,essessmente�ins�u'anca Pre�niums aad ground rents.L.ender may not charga Yor so holding ..,
<br /> and app1ying th�Funds,analYzing said aceottttt or veri4ylag ead compiliag eaid easesameats and bills,unle,ss I.ender pays
<br /> ..'��t Bonower interest on the Funds and applicable law permite Leader to make such a charga. Borrower aad Lendar may _
<br /> �;::�'�. - agea ia writing at tha time of esecution of this Dced of Tr�rst that iaterest oa tha Funds shall ba paid to Barrower.aad _
<br /> _ � � unless euch agreement is made or applicable law requires such intereat to be paid.Leader ehall aot be required to pay
<br /> " Horrower any interest or earainge aa the Funds.Lender ehall give to Borrower.without cherge,aa anaual accounting of _
<br />- . .'^''��. the Fuads ehowing crediLs and dabits to the t�unds ead the purposo Pur �+�IcY.racb d�hit to the Fu�ds s�� mA�: 'I'he
<br />�, ;° ''�r_ , Funds are plodged as addidoaal secvrity for the aums secured by thie Deed oY TnTSt.
<br /> -' �s����'�+����� If tha emouat of the Funds held by Leader. together with the future moathly i�stallmente oi Funda payable peior to
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<br />`�,f.,;... :;� the due dates of tases,esse�smente,insurance premiums sud ground reate�ahall esceed the amount required to pay oaid
<br />-_,, �;': ,: `� taxes, as�essments� insuraace premiume and grouad rents as thay faU due, such eacesa sLall ba,at Bortower's dptian.
<br />�":':.::�'�:`�;� either rom tl d to Borrawer ar credited W Borrower oa tnoathly installmants oi Fuads.If the amouat oi the
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<br />—w:.:�. Funds held by L.ender shall aot bs aufficient to pay teses.es�smente�insurance Promiums and groumd reats ea they fall
<br /><,,,,:�.,,•:.�,�. due,Barrower shall pay to I.ender aay emount ae�sary to snelce up the deficlenay in ona ar more papments as Lendar
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<br /> afL�w{ai.�.L•-,A'l� �SY�Y11V�
<br /> =_�:e_;�:�.� � Upon paymeat in tutl oi all sume secured bq this Deed oi Truat.Lender she11 Pmmptly refund to Aorcower any fuads
<br />="�=r�,_ held by L,o�der. If uadea'paragraph 17 hereof tha Property is sold or the Pmperty is otharwisa acquired by L,ender.
<br /> -�=-=•'� I,ender shatl apply. ao latat than iqnmediately prior to the sale of the Property or its aoquisitton by Leader�any Funds
<br /> °��"�`� held by Lendar at the timo of applicetiaa as a credit agaigst the avma se�ured by this Deed of Trust.
<br />=--p:;';"�r�,� ali papmesats received by Lender uadar tha
<br />�-;�;,� 3.Applicatioa oi Pa�ymdnte:Unleas applicable law provides otherwise�
<br />_— _�-=_ , Note and paragraPhs 1 and 2 hcareof ehall b9 applied bq Lendar firat in paymeat 6f atnounts payable w,Lender by
<br />--�""'O°'� Bornower undar paragt�eph 2 ha,eoi,then to iatorest paYabla ctn tha Note at the applicable c�ntract rata� and�tl►et�to the
<br /> ....�-:�r.� priacipat oi the Note. . • � �
<br /> �`-:'"i,'". 4.Frior Mortgages and Deeds oi Truet. Chsrges: Lio�s. Borrower shall perYorm all oF Borcower's ob3igntioas _
<br />��'�� under aa,q mortgage.deed of t►vst or other securit9 agreement with a liea which has priority over tbia Desd oi Tn�st.
<br />- .°°•-� ia�luding l3orrower's covaaan+si iu aunico l,o�;a�;�td s�b:,n di::. �orrower shAn pay rn� c,riuss ta be uaid all tasea. _
<br />—�-�---_ _= e�meate and other charges,fiaes and impc�sitions attributable to the Pru�xu¢y whicb may attsia a prlority over th�H
<br />--_"�'"..�� Dced oi Trust,aad leasehold paymeats or ground reats,if aay.
<br /> -�'��,,� S. H�zord Insarance. Borrower shell keep the impravemeats aow esisting or hereaftor erected oa the Pmperty
<br />'"�°-�'��":x � insured against loss by �re. hazarde iacluded wlttua the term "exteaded covernge," and euch other hazards es Lender
<br />;"`'��?�' maq requice and ia such amovnte and tor such periods as Lender maY re9uira.
<br /> '�`;�.`::_:�".. The iasurance cerrier providing tha insuraace ahaU be choseu by the Borrower sub,iect to approval by I.aadar;
<br /> '_":'..' -�;-' '
<br /> _ � provided,that such approval shall aot ba unrearonablq withhald All iasurance policies ead renswala thes+eoi shall ba ia a
<br /> �':°��:'� o. form uocepisble to Lender and s9�aU iudude e stsac�..rd mortgage clause in favor oi and ia a torm acceptable to Lender.
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<br />_..;.,�4�js�,r�� • Leader ehall have tha rip,ht ta hold the policies sad renewete thereof.subject to the tetms of any mortgaga.deed ot m�st
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<br /> . - r or other secucityr ageeernent with a lie�►which has priority over this Deed of Trust.
<br /> ' ' . .. �: Ia tha event oi loss. Borrower shall givo prompt aotioa to the insuraace cazrier aad Lender. I.eaaler may make pnoof
<br /> � ' ; of loss if not caade pramptly by BorroRer.
<br /> . '•^; ' Untesa Leadar aad Eorrower otherwise agcee ia writiag�inswanoe proceeds shall be applied to r�toratioa or repair of
<br /> ',<<,.,.•. -
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<br />'._ ..���_ _� the Property damaged. ii the restoration or repair is ecoao�nicallq 4easiblta��d�Leader;st���anae t lfl�ooeeds shall ba
<br />_ . . � restflration or repair ts aot eoonomicauy zcas,o�c v� ,.�,�..o,o o.�......, ......._.��
<br /> _ . �•' applied to the aums seeured by this Security Instrument,ahether or not then due,witb any excess pa'd to Bomowe�.u
<br /> ' Horrower abaredons the Property.or doES nat answer witlun 30 days a notice trom I.ender that the insurance carrler hes
<br /> � t oitered to settle a cleim.4hea Leader may callect the insurauce proceeds. L,ender maq use the praceeds w repair or
<br />- ' <, � restore the Propercy or w pay sume secured by this Security Instrumeat.whether or aot then due.Tha 3Q'day period Nill
<br />- � � " , begia when the notice is given.
<br /> If the Propercy ia abandoned by Baroaer.or if �orrower faila to respoad to Lender witirin 30 days imm the date
<br /> notica ia mailed by Lender to Bonoaer that the insurunce carrier offers to settle a claim ior insurance benefits.I,ender
<br /> ' is uuthorized to collect aad apply the iasurance pmc�le at LBnder's option either to restotetioa or rep�air oi the
<br />_- property or to the suma secured by 41�is DEed oi Trust.
<br /> - 02-08-99 DOT N£00799!
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