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�DOMINGO L LUCAS ELVA M GONZALEZ 9 9 lt� 8 9 5 0 102731 09/04/1999
<br /> UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br /> 1. Payment of Principal and Interest. Borrower shall prc�inptly pay when due the principal and interest
<br /> indebtedness 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 tlie day monthly payments of principal and interest are payable under tlie Note, unCil the Note is paid in full, a
<br /> sum (herein "Funds") equal to c�ne-twelftl� of the yearly taxes and assessments (including condominium and planned 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 oiie-twelftl� of yearly premium installinents for hazard insurance, plus one-twelfth of yearly premium installments
<br /> for mortgage iusurance, if any, all as reasonably estimated initially and from time to time by Lender on the basis of
<br /> assessments and bills aud reasonable estimates thereof. Borrower shall not be obligated to make such paymeuts of Funds
<br /> to Lender to tl�e extent tl�at Borrower makes such payinents to the holder of a prior martgage or deed of trust if such holder
<br /> is an iustitutional lender.
<br /> If Borrower pays Fuuds to Lender, the Funds shall be held in au institution the deposits or accounts of wliich are
<br /> iusured or guarauteed by a Federal �>r state agency (including Lender if Lender is such an institution). Lender shall apply
<br /> the Funds to pay said taxes, assessments, insurance premiurns and ground rents. Lender may not charae for so holding and
<br /> applying tlie Funds, analyzing said accomit or verifying and coinpiling said assessinents and bills, uiiless Lender pays
<br /> Borrower interest on tlie Funds and applicable law permits Leuder to make sucl� a charge. Borrower and Lender may agree
<br /> in writi�ig at the time of execution of this Deed of Trust tl�at uiterest on the Funds shall be paid to Borrower, and uiiless
<br /> such agreement is made ar applicable law requires such interest to be paid, Leuder shall not be required to pay Borrower
<br /> any interest or earnings on the Funds. Leuder shall give to Borrower, without charge, an aunual accouuting of the Funds
<br /> showing credits and debits to the Funds and the purpose for which each debit to tl�e Fuuds was made. The Funds are
<br /> pledged as additional security for the sums secured by this Deed of Trust.
<br /> If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br /> the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said
<br /> taxes, assessiYients, insurance premiums 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 /> held hy Lender sl�all not be sufficient to pay taxes, assessments, insurance premiums and ground rents as diey fall due,
<br /> Borrower shall pay to Lender any amount necessary to make up the deficieucy in one or more payments as Lender may
<br /> reyuire.
<br /> Upou payment in full of all sums secured by this Deed of Trust, Lender sliall promptly refund to Borrower any Funds
<br /> held by Leuder. If under paragraph 17 l�ereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br /> shall apply, no later than immediately prior to the sale of the Property ar 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. Utiless applicable law provides otherwise, all payments received by Lender under the
<br /> Note and paragraphs 1 and 2 hereof shall be applied by Lender tirst in payment of amounts payable to Lender by Borrower
<br /> uuder paragraph 2 hereof, then to interest payable on the Note, and tl�en to the principal of the Note.
<br /> 4. Prior Mortgages ancl Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations
<br /> u�ider any mort�age, deed of trust or other security agreement with a lieu which has priority over this Deed of Trust,
<br /> iucluding Borrower's coveuants to make paymeuts when due. Borrower shall pay or cause to be paid all taxes, assessments
<br /> and other cliarges, ti�ies and impositions attributable to the Property which may attain a priority over this Deed of Trust,
<br /> and leasehold pay�neiits or ground rents, if any.
<br /> 5. Hazard Insurance. Borrower shall keep the improvements now existin� or hereafter erected on tl�e Property
<br /> insured against loss by tire, hazards iucluded within the term "extended coverage", and such other hazards as Lender may
<br /> require and in such amounts aud for such periods as Lender may require.
<br /> Tl�e insurance carrier pmviding the insurance shall be chosen by Borrower subject to approval by Lender; provided,
<br /> tl�at such approval shall uot be unreasonably witlilield. All insurance policies and renewals thereof sliall be in a fonn
<br /> acceptable to Leuder aud shall include a staudard mort�age clause iu favar of and in a form acceptable to Lender. Lender
<br /> shall have the riglit to liold the policies and renewals thereof, subject to the terms of any tnortgage, deed of trust or other
<br /> security agreeinent witli a lien which has priority over tl�is Deed of Trust.
<br /> In die evei�t of loss, Borrower shall give pro�7ipt uotice to the insurance carrier aud Leuder. Lender may make proof
<br /> of loss if uot made promptly by Borrower.
<br /> If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days fro�n the date
<br /> notice is uiailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is
<br /> authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Pmperty or
<br /> to tl�e 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 good repair and shall not commit waste or permit impairment or deterioration of the
<br /> Property aud shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. If this Deed of Trust is
<br /> on a unit in a condoininium or a plamied unit development, Barrower shall perf�rm all of Borrower's obligations under the
<br /> declaration or covenants creating or goveniing the condc�minium or plamied unit development, the by-laws and regulations
<br /> of tlie condominium or plamled unit development, and constituent docuitients.
<br /> 7. Protection of Lender's Security. If Borrower fails to perform tlie covenants and agreements contained in this
<br /> Deed of Trust, or if any action or proceeding is conmienced which materially affects Lender's interest in the Property, theti
<br /> Lender, at Lender's option, upon notice to Borrower, may make such appearances, disburse such suins, including
<br /> reasonable attorneys' fees, and take such actiou as is necessary to protect Lender's interest. If Lender required mortgage
<br /> insurance as a caudition of inaking the loan secured by this Deed of Trust, Borrower shall pay the premiums required to
<br />� maiutain sucl� iusuraiice in effect until such time as the requirement for such insurance terminates in accordance with
<br /> Borrower's aud Lender's writteu agreement or applicable law.
<br /> Any amouitts disbursed by Lender pursuant to this para�raph 7, with interest tl�ereou, at the Note rate, shall hecoine
<br /> additional i�idebted�iess of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of
<br /> payment, such amounts shall be payable upon notice from Lender to Barrower reyuesting payment thereof. Nothing
<br /> contaiued in this paragraph 7 shall require Leuder to incur any expense ar take auy actiou hereunder.
<br /> 8. Inspection. Lender may make or cause to be made reasonable entries upou and inspections of the Property,
<br /> provided that Lender shall give Borrower notice prior to auy such inspection specifying reasonable cause therefor related to
<br /> Lender's interest in tl�e Pmperty.
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