|
1. �
<br /> �. ` -� .
<br /> S.
<br /> e
<br /> ��� �U�4:��
<br /> C -.. .
<br /> �
<br /> . UNIFUHM COV�Nl1NTS.Borrowor and Len�ier�uvAnnM and ne�roo ns foUows•
<br /> 1. P�tymc��!ot Pdnntp�l and lnterofl. Borrowa� sholl �rAm�►tly pAy whaii duo 1ho principnl nf and intaraat �n Iho _
<br /> . . �ncinhtpdnosa pvldancad by Ilto Noto,preQEl mt�nitlnd Into choPflos a9 provfdod in tho NotCr,und iho pnnciFal of and intorqsl on
<br /> �ny Future i�dvancny an�ui��l Ly ti'�d i�o��at Tru�t. � � • ' •
<br /> ?. Funda tar Tt�x6s An:i Inxuance.Sublea!tA nppUcable Ict�v or t.��wsitl�n�tr�IVcrr by Lc�nder,Bnrrowor shp11 pAy td lanclo�
<br /> on tho doy m�nthly instnllmenta ot p�lnalpel and fntarost are pc�yoblo undo►tho Natt�,unUl tho Noto Is pAid in full a aum(har�in ,
<br /> � "Funda")equtfl to ane-iwalith ol the yanrly tttxe9 flnd t�asvssmants whfch mc�y attaln prionty ov�r ihis Oeec�a1 Truol,and
<br /> qround rants on tha Proptirty,it nny,pius ono-Iwelflh ol yeorty premlum Installmonts lor hr�tnrd Insuranco,plus ono-twalRh ol
<br /> yuArly pramium Installm�nte for mortguqo ineu�nnco,ff�ny,all as rea9onAbly astlmntQd inilfally[►nd from timo ta tlmo by `
<br /> l.ondor on tho boslt�ot t�eaossments and bllla and roasonnble ostimutes thorpol. �
<br /> The Funds sht�ll hn hald In�n Institutlon the deposits or accounts af�vhlch ara insurad or guAranto�d,by a Fodornl or eteto
<br /> aponcy(Includlnfl I.�ndt�r II I.endor is ouch nn inetitutlnn�.Londc�r ahull apply tho lunda to pny ettid tAxaa,assessmonts, �
<br /> Insurance premluma nnd��round r�nte.l.onder mt�y not charpe tnr aa holding and A�plyinfl tha Funds,analy�ing sald c�ccau�t
<br /> ar verilying And compllinp et�id asResamonts and billa u�less Landar pn s Barrower Intereat on the Funds and applicable law ,
<br /> parmlts Lander to meAt�auoh a aha�Qo.Sorrowor And tender mey n{�ree�n wrltlnp ot the timo of oKr�outlon ot thls Desd olTrust
<br /> that interest on thA Funds ahttll ht�pald to Eior�ownr,and unleso euch agreem�nt la mode or appIlcnlbe law roqulre9 ouah .
<br /> Intarast ta be pald,l.tmdrar ahNll not pe raqulred to pny Horrowor any interost or ctarnln s on tha Funds.Lendor shall fllve to
<br /> 8orrowe�,wNhout nht�raa,�n Annual accounting ol thb Funda ahowlng credita And do�its to tho Funda and tho purposo tor
<br /> which each dehH to tho Funds was madt�.The Funds are pledfled as additlonal socurity forihp sums escured by ihls Deed o1
<br /> , Trust.
<br /> II tho amount of the funds held by 4ender,togeiher with tho futura monthly Installmenis ol Funds payable prior to tho due
<br /> dAtes ol taxea,assessmenta,insuranco premlums and ground rents,ehall excoed the amount requlred to pAy s�id taxea,
<br /> assessments,Insurenco premiums and ground ranta as theY lall due,auch oxcess shall be,af Borrowor's optien,elther
<br /> promplly re ald to Borrowor or creditod ta Borrowor ai�monthly installments ol Funds.If the amounl of the Fund9 held by
<br /> LendershalPnathesuHicionitopAytaxos,assessmonts,InsurancepremlumsAnd�round�r�ntsastheylalldue.Borrowershall
<br /> pay to Lender any amount ndGeasary to make up the deticlency wlthin 3Q dt►ya irom thH date notice is matled by Lende►to
<br /> 9orrower requesUng payment thoreot. �
<br /> Upon paymont in full of t�ll sums securod by thla Dead ol Trust,Lender shall promptly retund!o Borrowar any Funds held by
<br /> Lendar.If undor parngraph t6 hpreotihe PropertY is sold orthe Praperiv is otherwiae acquired by Lendar,Lender ah811 apply
<br /> no later than immodiately qnor to the sale of ihe property or its acq ulait(on by Lender,and Funds held by Lender atthe time o�
<br /> application as a credit againat tho aums aeaurod by this Oeed af Trusl.
<br /> 9. Appllct�tlon o1 PAymenta.Unloss applicAble law providos ofh�rwise,All pnyments received by lender under the Note
<br /> j and paragraphs t and 2 hereol shAll be applied by Londer(irst In paymont o1 amounts payable to Lender by Sorrower under
<br /> � para9rnph 2 hereot,then to intere�t pnyabta on ihe Note,then to the pnncipAl of tho Note,and then to inte�est and principal on
<br /> any Futu►e AdvAnces.
<br /> 4. Cha�ger,Liens.Borrowers shall pay flll taxes,asssssmants and other pharfles,Ilnes And impoaitions attributable to the
<br /> Property whlch may ottain a prlonty ovor this Deed o1 Trusl,and leasehold payments or ground rent8,it Any,in the manner
<br /> provided under paragreph 2 hereot or,it�pt pald in auch manner,by Barrower making paymenL whan du�,diractly to the
<br /> pAyee thoreof.BOr►ower 9hAll promptly 1u�nish to Lendor All notice9 01 amounts due under this parAgraph,and In the event
<br /> Borrower ahall make paymeni dl�ectly, Barrawer shall promptly turnlsh to Lender recelnts evidencing such payments.
<br /> Borrower shall PromQtly discharpe Any lien which has prlority over this Deed o1 Trust;provided,thE�t Bo�rower ahAll not bo
<br /> � raqulred to disanArflp a�y such ilen so long as Borrower shall apree in wnti�g ta tho paymonioi the abiigaiion;;dcuFC3a t�y�uvi'i
<br /> Ilen in a mAnnt�r acceptnblo to Lender,or shall In gaod lalih contest auch lien by,or dafena en7orComanl ot such lion in,legal
<br /> i procoedings whlch�perata ta prevent tha en}orcement of the Ilen or lorfeitura of the Proper4y or any part thereqf.
<br /> � 5. Hasa�d 1�lurAnae.Barrower shall keaQ the improvoments now existing or hereaitor erected on tho Prop�rty insured
<br /> againsi ivsa by iirn,iidsa�ao i�iciuuo�vrit�iii�ino iv���� o;,i6��63 C�.:.t8b�".�r��u�h Clh�'!:s��"�_°°_1 cnria�ma�ra��drw
<br /> and in such amaunta and for such pe�iody as Lande�mey requlre:pravidad,that Gand�r shall not roquUe that the amount o1
<br /> such coveraae exceed thot�mount of coverflge req�iired to p�y the sums secured by this Deed o1 Tru9t.
<br /> Thls Insuranco carrior providing tha insuranca shall Ge clioaen by Borrower subjact to app rovAl by Lender;providad,that
<br /> such appraval shall not be unreasonably wlthl�eld.All premiume on insurance pollcies shall be pald In the manner provlded
<br /> under paragraph 2 heraof ar,i1 not paid in such manner,by Borrower making payment,whon due,dlrpctly to the Inaurence
<br /> carrier.
<br /> All insu►ance pallcias and renewals thereof shall be in lorm accaptnble to Londor end shall include a standard mort age
<br /> clause in fAVOr ot and In form acceptable to lender.Lender shall hevo tho rlght to hold lh�poHCles and renawals thereo�and
<br />� Bor►ower shall prom tly lurniah to lentler all renewal notices and all►eceipts o1 paid premiuma.In the event o1 losa.Borruwer
<br /> shall plve prompt notPce ta the�insurance carrier and l.onder.Lond�r i�iay mak�prool a1 loss i1 not made pramptly by Borrower.
<br />' UnleBS Lendor and Horrow�r otherwiso agree in writ�ng,Inaura�uP prcrnt�d5 snAll Gd:�pplied tn re8toratlan or repalr of tfie
<br />, Prapa►ty damaged,proviqed such restoration or repa���s ecanomically feasible and the seCUrlty o1 thls Oaed ot Ttust i¬
<br /> tha�eby impaired.11 such r�storatian ar reqalr Is nof econom�cally teas�ble or d the security al thls peed o1 Trust would be
<br /> impai�ed,tho insuranaa proce�da shall be appliad to the sums secured by thi8 peod ot Tru81,with the excess,II any,paid to
<br /> BOrrpwe�.It the Property is nbandaned b�r 9orrawe�,a►il Borrower fails to respond to Lender withln 30 days trom the date
<br /> notice is mailod by Lendor to Barrower that the insurance c�rner offera to settle a claim 1or Insurance henefite,Lender Is
<br /> authorized to collect and apply Iho msu-ance procaads at Lender s .u�ion a�tner to i�st��.dion or reQair a1 tho Property or to
<br /> the suma secured by thls Dood of Trust
<br /> Unless Lender and Horrowor olnerw�se agrae in wnting,any such application ot procc�od�:to principal shall nat oxtend or
<br /> postpono the due dato of the monthly installments rofarred to�n paragraphe 1 and 2 hereot or change the amount ot such
<br /> installrnents.N under paragr2ph 18 horeot the Propt�rty iS 2cqu�red bv I.ender,all ri�ht,litle and Inloresl nl Borrower In and to
<br /> anylnsurancepoliciesandmandtotheproceedsthoreo}resultinglromdAmagetothoProportypriortothesaleoracqulsitlon
<br /> shall pass to Lender to Ihe extent ot the sums ser.ured by this Deed o1 Truat immedlately pnor to such sale or acqulsltion.
<br /> 6. Proaervatlon and Mnlntonance o1 PropoNy;Leaseholde;Co�.]ami�lume;Planned Unit Oevelopments.Bo►rower shall
<br /> keep the Property m good repair and shall not commit wa91e or perm�l�mpafrm�nl 01 deteriaration o1 the Property and shall
<br /> comply wdh the prov�slans o1 any lease dth�s Daed ot T rust is��n�Ieasehold.N th�s Deed ut Trustis on a urntin a condominium
<br /> I or a planned un�t daveiapmc�nt darrawer shall porlorr�au „1 B�rr�wer's obl��at:c�� u•idor the declaratlon or covenants
<br /> creating or govorning the conAaminium or planned un�t devulopmeni,tne by-I�ws and reyulat�ons ot the condominlum o�
<br /> ! planned unit d8v01opmaN,and const�tuent documeMs 11 a cundor.-.��urn or planned umt development nder is exCUted by
<br /> � Borrower 2nd recorded togother with th�s DeAd of Trus�.lhe coverar;s and agreen�ents ol such r�qor shail be ineorporated
<br /> �nto and sh�ll amend and supploment the aovnnants anU�tgreemerts ct this Deea o1 Trus�as d ih�nder �vere a part hereol.
<br /> 7. Proteellon ol Lendor's Soourtty.If Borrowoi lails to perlorm Ihe covanaMs and agreemems c,ma�ned in this Qeed of
<br /> Tru9L or�I any action or procoeding is commenced wrth materia�Iy attocts l.ender's��:orost�n Ihe Proporry,mcluding but not
<br /> tim�ted to,eminent doma�n,insolvency,code eniarcemar�l,or i�rrtonyhm�nts or prxezd+��gs+n�rolving a banRr:ipt asdeCOdant,
<br /> i thon l.ender al4ender's option,upon notice to Borrower,m�y make such appea��r,c�s,disburse such 9urn°2nd taka such
<br /> actionasisnaCessarytoproteclLender'sinterest,including butnotl�m�tedto,disbursementolroasonableattorney's}eesand
<br /> ; eniry upon the Prapertyto mako repairs.If Lender required mortgage msurance as a conditian ol making Ihe loan secured by
<br /> the Deed o1 Trusl,Borrower shall pay the premiums requlred to mamtain such insurance �n eNeCt untll suCh time es the
<br /> requlrementtorauchinsuranceterminatesinaccordancewith9orrower'sandLender'swnttanagreementorapplicalbelaw.
<br /> Borrower shall pay the amounl of all mortgage insurance permiums in the manner provided under paragrAph 2 hereot.
<br /> Any omounts disbursed by Lender pursuant to this pnrag raph 7, w:tn interest thereon, shall becon:e additlonal
<br /> indebtedness of Borrower secured by this Oeed of Trust.Unless Borrower and Lender agree toother terms ot paymenl,such
<br /> Amounta shall be payable�,pon nolice lrom Londor to Borrower requesting payment horAO1,and shall bear interest trom the
<br /> dateUldisbursementattheratapayablefromtimetotimoonoutstanding pnncipalundertheNoteunlpsspaymentotinlere9t
<br /> at such rate would bo cont�ary to applicable law. �n wh�ch event such amounts shall boer �nter�st at the hic�hest rate
<br /> peimiss�ble undar applicable law.Noth�ng contained in!his paragraph 7 shall requue Lendor to�ncur any�xpense or tako any
<br /> aCUOn hereunder
<br /> 8. Inlp�ctlon.Lender may maka or cause to be made reasonr�blr�entnos upon and�nspecl�ons o1 the Property,Provided
<br /> that Lender shall�ive Borrower not�ce pnor to any such inspoction spec�fy�ng reasonab�e cause theroforc�relaled to Lender'9
<br /> interesl in Ihe Proparty.
<br />
|