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� APR�20-99 09:06 FROM=FIRST UNION ID= PAGE 9/11
<br /> � � ��' 1�455'�
<br /> Any rider (°Rider`7 attached hereto and exectxted of even date is incorpo�rated herein and the Covenant aud
<br /> agireements of tbe Ridex shalY amend and suppTement the cove.�ants and agreem�ts of t}ais Deed of TYust, as if
<br /> the Rider were a part hefreof.
<br /> goFrower cove�ants that Borrower is Iawfuliy seiz.ad of the estata herebY conveyed and has the r��t to grant and conveq
<br /> the Propesty, atad that the Propeny is u����b��, except for encumbrances of reCOrd. fionrower eovenan�[t
<br /> P � aainsc all claa�ns vad denoands, J
<br /> �orrower w a r r a m t s a n d w i ll d e f e�n d g e n e z�a l l y the title to the Property aa
<br /> �acumbrances of record.
<br /> UNYFORM CO'VENAN'TS. Borrower and Lender covenant aad a�ee as follows=
<br /> 1. Paynaent of Principal and Interest. Borrower shall promptl�pay when due the p�cincipal and interest indebtsdness
<br /> evideaced by the Note and late charges as provided zz� the Note. This Deed oP Trus� Secures �aY�t of said Note
<br /> aceordi�to its ternos, which are ineoz'porated hereia by rzference_
<br /> hcation of Payments. Unless aPplicable law provides otherwise, all paymeuts received by Lender under the
<br /> 2. App�
<br /> Note az�d paraa aph 1 hareaf sball be applied bY I�der fizst to inte�est due on the Note, second to the principal ue
<br /> on tiie Note, aud then to late cb,arges du�on the Note_
<br /> 3. prior Niortgages and Deeds of'YYust; Chaz�ges; Lie�os. Bozrower shall perform aZl of Borrower's obligations,
<br /> �mder aay m�ortgage, d�ed of tzust or other security a.�•reemeut with a Iie�n wb�ich has priority o'ver this Desd of Trust,
<br /> m � P Y aid all taxes,
<br /> i�cludina Borrower's covenants t� make payments when due_ Borrower shall a or cause to be p
<br /> assessments and other cha�r;es, fimes and iznposicio�os attributable co the Properry wIucii may attain a prioziry over this
<br /> Deed of 1�ust, and leasehold payments or ground rents, if any-
<br /> 4. �rd Iiosurauce. a) Borrawer shall keep the improvements now eacxsting or I�ereafCe�r ere.�tefl on the Propeity
<br /> insured against loss by fire, hazards included within the Lerm "extended coverage", and any ot�er ha2axds, includi�
<br /> iloods or flood, for wbxch i,ender requixes insurance� This iusurance st�.alI be maintained 'zn the �ower�subject to
<br /> periods that T.e�ader requims. Ttx� insura�ce carrier groviding the ins�uance shaiI be chosen by
<br /> I.e�der's appmval vcrhich sk�all not be unreasonably withhe�d. If Borroweir fails to main.taiu cover2ge desc�dbed abo've,
<br /> Le�ader may,at Le�de�'s option,obtain covera�e to pzotect Lender's rights in the Property in accordan�e w�th p��aPh
<br /> 6.
<br /> b) All insurance policies and renevu'a1s s�all be acxeptable ta Le�ader and shall iu�clnde a standard mortgage clause.
<br /> Lender shall have the zight to hold the policies and reaewals_ If Lemder requires, BorroWer shali promPtlY' give to
<br /> Leader ali receipts of paid premivxr�s and renewal notices- In the eveat of loss, gorrower shali give pmmpt to the
<br /> insurance carrier and Lender. Lender may make proo�of Ioss if not made proaipdy to Bflrrower.
<br /> c) Unless L.ender an,d Borrower oshetwise a�'ee in wriring,znsurance proceeds shaIl be applied to restoration or repair
<br /> of the PzopertY dama8ed• if the restoratioa or repair is econonaically fe2s�le and r.endex's security is�.ot lessened• If
<br /> the restorati.on or repair is not economically feasible or Lendex's seCUrity would be lessened>the insuz�ce Px���
<br /> be applied to the sums secured by this Securiry Insuvment>whether or not thea due,with a�y�xcess paid to Borrower.
<br /> Yf Borcower abandons the Property or does not answer withixx 30 days a uotice from Lznder�t�e e�S����
<br /> has offered to settte a claim, then X_ender�ay collect the ins�rance proceeds- I,ender tna�' P
<br /> or restore the PropertY ox to pa�'sums secured b�this Security Instrument,wherher or not then due. T1xe 30-day Peziod
<br /> will begin when the notice is given.
<br /> d) Exeept as provided in subparagraph 4(e) below, should partial ox complete destrueiion or damaae occur to the
<br /> propeity,B�oxrow�r hereby agrees that amy and a�I instruzneats evidenciR;iasurance proceeds recei'ved by I..ender as a
<br /> result of said damaa�or destniction,shatl be Placed in a uoz�-iaterest bearing eseror�'aee°unt with I.ender. At Y.ender's
<br /> discreEion, Lender may reIease some or all of the proceeds from� ��scxow after Sozrower presecz�.0 Leuder with a
<br /> rc�cceipt(s}, invoice(s),written estzzna=es(s)or other document(s) acceptable to I.ender Wh�,ch relates to the repair and/ox
<br /> e
<br /> unprpvements of the �roperty necessary as a resuJ,t of said damage and/or destruccion. Absent azz agreenaent to e
<br /> eontrary, L.euder shall not be required to pay Bonower any intc-rest on the proeeeds held in the escrow accowat_ Any
<br /> auxounts reznainin$ in the aecount after all xepairs and/or i�prov�¢ents have be�n made to the Lender's satisfactzon,
<br /> sh.all be applied ta the sums secured by this De�d of Trust,Dced to Secure Debt,or Mortgage. Borrowex��
<br /> co coopecate witb,�nder by endorsing ail, ehecks. clrafts a�d/or other insfxumems eviden,cing insurance P
<br /> any mecessary docu�menu. Should Borrower fail to pzovide am�requiz�d endorsem�nt 2uo�d/or exeeution W'ithin thirty(30)
<br /> days afrer I.ez�der sends borzower uotiee that Lender has raeeived an� instruna�t evidezicing insuranee Aroceeds, or
<br /> d.ocvmeAt(s) reqviring Boxxower's signa�ure, Bozrower hereby authorizes �.ender co endorse said insu�woa�nt and/or
<br /> document(s)on Borrowers behalf, and collect and ap'Ply said proceeds at I.endex's option,either i It l�not��e inte�,t�'on
<br /> of the Property or to suu�s Secured bY this Deed of'I�ust, Deed to Secure Debt,�ox Mortgag .
<br /> of either party that this esc�'°�' Pi°�'i�on, ��o� �der's endorsement or execution of an insuument(s) and/or
<br /> do�ument(s)on 6ehal.f of Bonrower create a fiduciary or ageinc� relationship between Lender and Borro�uver.
<br /> e) Unless L.e�ader and Borrower othervvise agze� in writing, anY aPPIication of proceetls to principal sha11 not extend
<br /> a ts referred to in paragraPhs I and 2 or change the a�mount of the
<br /> or postpone tb,e due date of the momthI� p yxn� � y licies and
<br /> paymemrs- If umder paragtaph 16 the Property i�s acc�uired by Lender, Bo�trower's ri t to an insurance Po
<br /> praceeds resulting from dazz�age to the property prior to t�.ie acquisit�an shall pass to Lender to the exteat of the sums
<br /> secured by ihis Security In�zua�L•
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