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<br /> ,,,� 302S37 03/26/1999 R_
<br /> 'JOHYJ 8 S�L13BFt8 LAVONNt; K ALB8R8 b`
<br /> � ' ' UMPORM COVBNAN7'S. Boreawer aR4 Len,�er covenmat t;nd agcee iss foUows: I, `
<br /> - 1. Fayme4►t of Peinctp�l arzd [r�4ceest. Bomower shull promptly pay when due che pducipal oad �terest - _
<br /> iadebiedQess evidenced by the Noie und late cdar8es as provided ie�the Note. �`
<br /> Z.�ttds for'i'tutes anfl Ias�. Subject to appllcuble luw or n tivritten waiver by Lender. Harrowet shall pay tu ?.
<br /> - -- i.�ndee oa i�a day�aaihlY F3Sr��of gruxig�!end'an�re��t ere g�Yeble�er the Noc�,uatil�he Note is pa[d in fuU.a •-'
<br /> tauta(lt2teia°Fu$�s°�c9�^I�o o�-twClgth of tke yeSTly feRes tiud BSSessiuEriis(3IIC1ud1Ag wttdouliaium tutd pl8utied un3t
<br /> ,, ' devela �ent assessmente,if any)whicU may aaetn priority over thls Deed of Tmst.und grouud rents on the Propeny. if � �.-_::
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<br /> � any.pins one-twelRh of yearly premium installruenta for harard insurau�e.Plus one-twelRh of yearly premium is�stallmeme u_.�_
<br /> � for mortgage insivance. if any,aU as z+easonAbly esdmated laidatly and fcom tiine to dme by Leader on the basis of � �_ -
<br /> �....�--; nssessmewx and biUs aud reasonable estimazes thereof. Bomower shall aat be obligated to make suc�payments of Fauids _-
<br /> :•�-�""` to I.ender w the eatent that Boamwer roa�ces such paymeats to the holder uf a prtor mortgage or dced of m�st if such holder �'
<br /> :.� . . .. is aa insdtudo�al leader. .---
<br /> If Borcower pays Funds to 1�ender, the Funds si�all be held in an lnsdtudon the depostts or acoounts of whdch are
<br /> �� insured or guatanteed by a Fedetal or sr�te aSe�Y(�1�8 Lender if Leader is such an insdtudon). Lender shaU agply —
<br /> , the Fwids to pay said taxes.�nts.insurance Oremiums and ground rents.Leusler may mot ci�ar8e for�holding and�1
<br /> applylug the Fut�ls. enalY�B said account or verifyiag and compilin8 said essessments and bills, unless Lendet gay� _
<br />_ � `'' �orrower imerest on the Fwsds end applicable law permits Lender w make such a chai8e.Bomower aeid Lender may a8ree _
<br /> - ' � in wridng at the t�me of execudon of this Deed of Tcust that iaterest on the Funds shall be paid to Borrower. Borrower --
<br /> � such agreement is made or appllcabie law requlres such interest w be patd, Ixu�er sh�il not be required w paY --
<br /> n
<br /> a�ty interest or eamings on th�Fuuds.1.ender sha11 Sive W Bosower.wlthout ah�ege.an annual accoundng of the Funds
<br /> •- ',�' sho credits aud debits to the Fu�s and the purpose for which each debie to the Funds was made. '!he Funds are --_
<br /> - . Pledgecl as addidonal security for t�e suuaos secured by chis Deed of'Cn�st. le or ro
<br /> � If the amoant of che Fwnds held isy L�der. to8ethec'w�th�e�II1O�y��°f Funds payab prt
<br />:.� � the due dsttes of ta�ces. assessmenis.ia�urance Premiums and Smund rents. shsll exceed tice umnunt re9uired w PaY said
<br /> � �.}; taxes, ass�sments. insurance Premiwns and ground rents as they faU due. such exce.cs sdall be. at Borrnwar's opdon,
<br /> etther pmmptly cepaid to Borrower or credited to Borrower on montlily ins�ms of Funds. If the umount of ti�e Fuuds
<br />_''� held by Lender s6all uot be sut�cient to pay texes.assassments.tacur��ce P�miums and grouad re�s as they fall due,
<br /> ;c� . '. Borrovrer shaU paY to 1[xnde�any amount necesstuY w make up the deflciency in one or mfl�+e payments es L+ender maY
<br /> _-:�t_.•. �
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<br />-�°�•_�'� -" ��On payment in futl oi ati s�ms secund by ihis I3�d af T�t.Ix�er s..�p*�mntty refund to Borrower aay Funds
<br /> �.; . - 17 hereof the Property is sold or the Propec¢y is otheiwlse acq�dred by Lender.Lenda
<br /> ��•,.;,,k� held by I.e�er.If under paragcaFb or its acquidtion by Lender, any Funds held by
<br /> '-� 'r ' r`�' S}J8Q apply. �tacer Wan immediatelY P�Ior w the sate of[he Propeny
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<br />='-�,�_,�',,,.�;,�;: Lender at ths time of agpli�on as a credit agatast the sum�secured by this Deed o �received by Lender uader the
<br />�_:F°�.:-i=-..: 3.Ap�on of Payimeots. UNess a�Plicabte 1aw pmvides othenvlse.al1 PaYme
<br />'�°'':'_�c-' Nmte sod pa�pLs 1 and 2 hereuf shall be applied by Le�er fust in payment of amounts payable to I.ender bl►Bomower
<br />'`""`-��`�'�•� undei Pa�a�aph 2 hereof�then to imeresc PaYable on ti�e Note.and deen to the prl�3pa1 of the Note.
<br /> �F�°•-.°'.,� rfoim aU of Borm�ver's abligadons
<br /> ----�`-=d�!� 4. Pe�tor MortSsSics and Deeds of Trt�st: Ci�'Besi Ltens. Boirower shall pe
<br /> ---�:� u�er eny mortga8e�dced of mtist or other sacuiit�► a8reement with a lien wl�ich has prtor�ty rner this Deed of Tnut,
<br />"_���'a� includtng Borrower's covenants to make payanems when due.Eorrower si�all paY or cause to be paid all taxes.as�nnents
<br /> ��"`=r-.��'� and other chug�• �es and imposIdons asa�tbutable m the Property which may auain a p r iorlry over tl�is Deed of Tin�, _
<br />�..-F.�,�.�,,� and la�hold payments or Sraund�ts•if any. ����w��S�hen�fter erected on the Pcopei►Y
<br />-__-=",�;� S. Haard I�urance. Borcower shsU keep the imP
<br /> - iaSUiod a�tiact loss by�'ue. tuu�rds tucluded within the teim"e�ctended coveiage".and svch o�her barr�ds as I,ender�►
<br />�-�-'•;:� �dre and ia sucii amwns and for s�periaLs as Lender may requiae. Ixnder: Pmvided.
<br /> � 'fhe iasivaAOe canier pmv�din$the ia5urance stiall be chasen by Bc�rrower subject to apTuovallry
<br /> �-==---- -- tbat such appmval shaU�t be unreasunably wit +hheld. All insurance Qolicies and nenearats thereof shall be in a fomi
<br />__---- ---- uceptable to L�ader amd shaU inciude a staadatd mortgage clause in favor of aad in a fotm acxeptable to Leuder. Lender _
<br /> !�,���.��, aeed of u�st os other
<br /> � -��� sfia11 have the cight to hold the policies and reaswals thereof,sub�ea to tiee term4 of any mortgaSe.
<br /> �-"'.�j.� s e c u r i t y a g�e e m e n t with a tien which i�as prtorlty aver this Dced of Tmst.
<br />��°'��•�:�• Ia the eve�of lass.Boicower small give p�onnpt�Sce to the iasu:anoe catrler aad Le n d e r. L,e n der may�a]c e p m of
<br /> -=_-- of loss if�i made p�np8y by Hoaow�r.
<br /> -=-=�-.�L'� If the PcopertY is abandoned bY Bormwer.or if Borrawer fails to respond to Lender within 30 days from the date
<br />�. _�.,-�,�
<br /> - _=- >�-.,•.� Qasice is mailod by Lender co Borrowec tbat die insura�e carrier ot�ers to settle a etaiai for insutanc�beneHts. Lender
<br /> za�:��-_°�„°'� ant�orir,ed to rnlled aad apply tYie In�ainoe Pt+oceeds at Lender's optton either w resto�adon or repair of the PcoPertqoa
<br />`"'�;��;�.:�'_ m the sums secwoed bY this Dood of Trust.
<br />_�::1.z:•.�' of Prog�tyi I.easeholds� Con�niumsi ��� Unit De�veloP�
<br /> w:� .:,,�_:�,r 6. Pmeservatiar� mnd MWm3caanoe or de�terloistton of the
<br />_' �� ` �•r� Bo�rower sba111ceeP the PcmpertY in�oo��!�s6aU not w�nit waste or pecmit i�
<br /> .-ti' r-''�i"�� ' piopscey�utd sh�wmply wtth the psovisioac of suy lease if this Deed of Tivst is on a leasehold.If this Beed of Tnut is
<br />`'"�-'.��'-,r:,�:''.``" Bornnwer shall rm all of Bosrower's obligadons�der the
<br /> ".-',,����;,.c- on a unit ica a co�loaQi�um or u planned unit development. P�
<br /> . ,-,s`"''' or ov the condominium or planned uait develogment,the by-laws a�regWarions
<br />-; . .. , dec]aration or covenanB cteadm8 8 �8
<br />�-� ; of the coadomiaium or ptaa�d u�t d�velopment.a�nd eonsntueni docume������ntainad in th�s
<br /> �`�� .(.. -' �,� 7. P r o t e d ton o f I.R n d e�'s S e�r[t Y• I f B o r r a w e r f a i l s w p e r f o m n
<br /> ,`-,iJ�- Deed af Tatist�os if aay eccion or pr000ediu8 is conn�nced wbich materiallY affeqs Lender's interese in the PropertY.t h e n
<br /> —.._ _...L a..,.m.on.•nc Aistnust �tc]t st1II1S. 311Ch1�$
<br /> i- ---��k�``��:.�, Lender. at Lender's opHon, upon noace m Borcowcr. �i ,.,m., a,a... -n.-------. ---
<br /> _ .�.",,� . • fees. and take such acdon as is nec�aiY to Pmtect I.ender's iarec�st. If Leader reqQired morc8age
<br />- ' �'� � ' � reasonable auameys
<br />- F� iusu�o�as a condidon of making the toan ses.w+ed bY this Deed of Tcust.Bormwer shall PaY the Pr�u��Q�to
<br />- main�in such insurance ta effect tuuil such time as the mqutremeiu for such imuranoe te�minates in aa�ordance wlt6
<br />-'. ' " Boaower's aad I.ender's watttcn agreement or applicable law.
<br />- Auy amounts disbursed by Lendec pursuant to chis p�Pb 7.wlth intecest deereon.at t�e Note rate,stiall beoome
<br /> = addidonaU imebtedness of Bomrnver secured by this D e e d of Tmst. UWess Bonnwer and LEnder aSrex tOthereof. 1�3othiQB
<br /> � 1�Y�� suctt am�wats shaU be payable upon notIce from Le�er to Borrower requesdn8 p3Y�
<br />_. ,. contetaed in t63s puagcaph 7 sLsill re4uire I.ender to incur aay expensc or take anY acdon hera►nder.
<br /> -�� g. Hnspectton. LQnder may make or causc to be made reasonable entrtes upon and i�Cdons of the P�openy.
<br /> - � provided that L�ender shatl give Bomower nobtce pnor to auy such iaspecdon specify�n8 re�onable cause therefor relaud to
<br /> , . L,ender's iuterest in the Praperty.
<br /> ;.
<br /> -- �•. ��ctors
<br /> ` Pteprnaxe?,�87�41/98 Origiaal(Reaorded) Copy(Ssaach) Copy(�Stossas')
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