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, MARTHj� LUEBBE MARVIN LUEBBE 99 1078�3 � 202556 08/02/1999
<br /> UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br /> 1. Payment of Principal and Interest. Borrower shall promptly pay Wlletl due the principal and interest
<br /> iudebtedness evidenced by the Note and late charges as provided in the Note.
<br /> 2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Borrower shall pay to
<br /> Lender on the day montlily payments of principal and interest are payable under the Note, until the Note is paid in full, a
<br /> sum (l�erein "Funds") equal to <�ne-twelfth of the yearly taxes and assessments�(including condominium and plamied unit
<br /> development assessments, if any) which may attain priority over this Deed of Trust, and ground rents on the Property, if
<br /> any, plus one-twelfth of yearly premiu►n iiistallments for l�azard insurance, plus one-twelfth of yearly premium installments
<br /> for mortgage insurauce, if any, all as reasonably estimated initially and from time to time by Lender on the basis of
<br /> assessuients and hills and reasonable estimates thereof. Borrower shall not be obligated to make such payments of Funds
<br /> to Lender to the extent that Borrower makes such payments to the holder of a prior mortgage or deed of trust if such holder
<br /> is an i►�stitutional lender. �
<br /> If Borrower pays Funds ti� Lender, the Funds shall be held in an institution tlie deposits or accounts of which are
<br /> insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply
<br /> the Funds to pay said taxes, assessmeuts, insurance premiuins and ground reuts. Lender may uot charge for so holding and
<br /> applyin� tlie Funds, analyziug said account or verifying and compiling said assessments and bills, uiiless Lender pays
<br /> B<�rrower intere�t c��l the Funds aud ap�licahle law perroits Lender to i?iake �uc!i a c1_��rge. Borrower and L.ender may a�ree
<br /> in writiiig at the time of execution of tl�is Deed of Trust tliat interest oit the Funds shall be paid to Borrower, and utiless
<br /> such agreemeut is made or applicable law requires such interest to be paid, Lender shall not be required to pay Borrower
<br /> any interest or earnings on tl�e Funds. Lender shall give to Borrower, without charge, au amival accounting of the Funds
<br /> showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are
<br /> pledged as additional security for tlie sums secured by this Deed of Trust.
<br /> If the amount of die Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br /> the due dates of taxes, assessments, iusurance premiums and ground rents, shall exceed the amount required to pay said
<br /> taxes, assessments, insurance premiuins and ground rents as they fall due, such excess shall be, at Borrower's option,
<br /> either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br /> l�eld by Lender shall uot be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br /> Borrower shall pay to Lender any amount necessary to make up the deficiency in one or inore payme�its as Lender may
<br /> reyuire.
<br /> Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Futids
<br /> lield by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br /> shall apply, uo later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br /> Lender at the time of application as a credit against the sums secured by this Deed of Trust.
<br /> 3. Application of Payments. Unless applicable law provides otherwise, all paymeuts received by Lender uuder the
<br /> Note aud paragraphs t and 2 hereof shall be applied by Leuder first in payment of amounts payable to Lender by Borrower
<br /> under para�raph 2 hereof, then to interest payable on the Note, and then to the principal of the Note.
<br /> 4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations
<br /> under any mort�age, deed of trust or other security agreement with a lien whicl� has priority over tl�is Deed of I'rust,
<br /> includiug Borrower's covenants to make payments wlien due. Borrower shall pay or cause to be paid all taxes, assessments
<br /> and other char�es, tines and impositions attributable to the Property which may attain a prioriry over this Deed of Trust,
<br /> aud leasehold payments ar ground rents, if any.
<br /> 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br /> insured a�ainst loss by tire, hazards included within the term "extended coverage", and such other liazards as Lender may
<br /> require and in such amouuts and for such periods as Lender may require.
<br /> The ii�surance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided,
<br /> tliat such approval shall not be unreasonably withheld. All iusurance policies and renewals thereof shall be in a fonn
<br /> acceptable to Lender and shall include a staudard mortgage clause in favor of and in a form acceptable to Lender. Lender
<br /> shall have the right to hold the policies and renewals thereof, subject to the ternis of any mortgage, deed of trust or other
<br /> security agreement with a lieii wliich has priarity over this Deed of Trust.
<br /> In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof
<br /> of loss if uot made proi7�ptly by Borrower.
<br /> If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date
<br /> notice is mailed hy Lender to Borrower that the insurance carrier offers to settle a claim for insurance beuetits, Lender is
<br /> authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or
<br /> to the sums secured by this Deed of Trust.
<br /> 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments.
<br /> Borrower shall keep the Property in gc�od repair and shall not connnit waste ar permit impairment or deterioration of the
<br /> Property and sliall comply with the provisious of any lease if this Deed of Tntst is on.a leasel�old. If this Deed of Trust is
<br /> on a unit in a coudominium or a plaimed unit development, Borrower sl�all perform all of Borrower's obligations under the
<br /> declaration or coveuants creating or goveruing die condominium or plamied unit development, the by-laws and regulations
<br /> of the condominium or planned unit development, and constituent documents.
<br /> 7. Protection of Lencler's Security. If Borrower fails to perfc�rm the covenants and agreements contained in this
<br /> Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's iuterest in the Property, tlieu
<br /> Leuder, at Lender's optiou, upo�i notice to Borrower, may make such appearances, disburse such sums, including
<br /> reasonable attorneys' fees, and take such action as is uecessary to protect Lender's interest. If Lender reyuired inortgage
<br /> insurance as a coudition of making the loan tiecured by this Deed of Trust, Borrower shall pay the premiums required to
<br /> maiiitain such insurance in effect until such time as the requirement for such insurance terminates iu accordance with
<br /> Borrower's and Lender's written abreement or applicable law.
<br /> A�iy amounts dishursed by Lender pursuant to this paragrapl� 7, with interest thereon, at the Note rate, shall become
<br /> additiunal indehtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender a�ree to other terms of
<br /> payment, such ainounts shall he payable upon notice froin Lender to Borrower requestiiig payment thereof. Notliing
<br /> contained in tllis paragraph 7 shall require Lender to incur any expense or take any action hereunder.
<br /> 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property,
<br /> provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to
<br /> Leuder's interest in tl�e Property.
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