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. 99 110447
<br /> 70 SECURF=:e Len,:er th� repayment o�the indebtedness evidenced by Borrower's note dated October 22, 1999
<br /> and extensicns and reriew<<{s thereof (herein "Note"), in the principal sum of U.S. $11,000.00 , with interest thereon, providing for
<br /> monthly instalim���;ts o(priru;�pal and ir,erest, with the balance of the indebtedness, if not sooner paid, due and payable on
<br /> November �J, 'ZU14 ; the payment of ali other sums, with interest thereon, advanced in accordance herewith to protect the security
<br /> of this Ceed of Tr��st; �;nd tl;e peifonnance of the covenants and agreements of Borrower herein contained.
<br /> Borro�Ner �ovenan;s that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property,
<br /> and thai ihe Pro{>er!y is unencumbered except for encumbrances of record except for a lien granted by Borrower to Contractor and hereby
<br /> assigned hy Cin;trac*or to Lei:�+2r. 3orruwer covenants that Borrower warrants and will defend generally the title to the Property against all
<br /> claims and dec�ands, si�bject to cncumbrarces of record.
<br /> UNi(=URM CC��'ENAPJTS. Qorrower and Lender covenant and agree as follows:
<br /> ?. Faymer,t of Principal and fnterest. Borrower shail promptly pay when due the principal and interest indebtedness evidenced by the
<br /> Notc'� and I�;e c:�a.rges as ��r��vided in the Note.
<br /> 2. Funds for Taxes and Insurance. Subject to appticable law or a written waiver by Lender, Borrower shall pay to Lender on the day
<br /> monthly payments oi principa! and interest are payabte under the Note, until the Note is paid in full, a sum (herein "Funds") equal to one-twelfth
<br /> of the yearly taxi:s rinr,' �ss!�ssments (indudii�g condominium and planned unit development assessments , if any) which may attain priority over
<br /> this Deed of Trust, anr; greiand rents on the Property, if any, pius one-twelfth of yearly premium installments for hazard insurance, plus
<br /> one-twelfth of yeurly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Lender
<br /> on the basis of ass�;ssmenls and bills and reasonable estimates thereof. Borrower shall not be obligated to make such payments of Funds to
<br /> Lender to rhe exter�t that P>orrr�v�•er make� such payments to the holder of a prior mortgage or deed of trust if such holder is an institutional
<br /> lender.
<br /> If Borower pays �unds to Lender, the Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed
<br /> by a federal <;r state agency jincludiny Lender if Lender is such an instituiion). Lender shall apply the Funds to pay said taxes, assessments,
<br /> insurance prerniums and ground re;;ts. Lender may not charye for so holding and applying the Funds, analyzing said account or verifying and
<br /> compiling said assessments ar�d biiis, unless Lender pays Borrower interest on the Funds applicable law permits Lender to make such a charge.
<br /> Borrower ar�d Lercier may agrec, in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower,
<br /> and unless suct� agreerr;enc is mada or applicable law requires such interest to be paid, Lender shall not be required to pay Borrower any interest
<br /> or earnin-ys on the Fu��ds. �ender shall give to Borrower, without charge, an annuai accounting of the Funds showing credits and debits to the
<br /> Funds anc .he �ur�usa (or ���hich each del�it to the Fur.ds was made. The Funds are pledged as additional security for the sums secured by this
<br /> Geed of Trust.
<br /> If tha amount of tiie Funds held by rhe Lender, together with the future monthly installments of Funds payable prior to the due dates of
<br /> taxes, assessm�er�ts, insur�ar�c:; premiums and groun�J rents, shall exceed the amount required to pay said taxes, assessments, insurance
<br /> premiums and ground rent.� a, they Pail due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to
<br /> Borrower on rnonthiy installmei�ts o( runds. If the amount of the Funds held by lender shall not be sufficient to pay taxes, assessments,
<br /> insurance n:emium; an� ground rents as they fali due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or
<br /> more payments ���, Lc��de� may require.
<br /> Upor� oayrrent in fuli of ail surns secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds held by Lender.
<br /> If under paraq�a�h ?1 hr�reof th� Pruperty is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately
<br /> prior to thr: saie ct ��ie P;vpeny or ics acquisition by Lender, arry Funds held by Lender at the time of application as a credit against the sums
<br /> secursd by t�i�s De:e�i of f�ust.
<br /> 3. Ltpn!ication uF Paymer.ts. Urdess appiicable law provides otherwise, all payments received by Lender under the Note and
<br /> paragraphs 1 and 2 herecf shail be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof,then
<br /> to interesl payabi�� or� �he Note, and ihen to the principal of the NoYe.
<br /> 4. Prior Mor?gages and Deeds of Trust; Charges; Liens. Borrower shall perform aii of Borrower's obligations under any mortgage,
<br /> �ieed of trust <,r otner sec�.iricy ayree,i�ent with a lien which has priority over this Deed of Trust, including Borrower's covenants to make
<br /> payments uvhen due: fiorrov�er si�ail ;�ay or cause to be paid all taxes, assessments and other charges, fines and impositions attributable to the
<br /> Property wFir,h ;nay .+ttain :: priority over this Deed of Trust, and leasehold payments or ground rents, if any.
<br /> 5. Fiazarc3 Insurance. Sorrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by
<br /> fire, hazards incl�u:led within ine ierm "extended roverage," and such other hazards as Lender may require and in such amounts for such periods
<br /> as ler,der ri,�y reuuire.
<br /> The ins��ar�ce carrier providing tne insurance shall be chosen by Borrower subject to approval by Lender; provided, that such approval
<br /> shall not be unre+�sonably r.ithheld. P,�� insurance ;�olicies and renewals thereof shall be in a form acceptable to Lender and shall include a
<br /> stanqard morcgege dause ii� favor of and in a form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof,
<br /> subject to che tern��a oY any mort7age, deed of trust or other security agreement with a lien which has priority over this Deed of Trust.
<br /> In the even. czf :oss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made
<br /> promptly by Bor;otiver.
<br /> ff thz Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is mailed by
<br /> Lender to Bvrrc�v:�i:r tha: tP�e insurarce carrier offers to settle a claim for insurance benefits, Lender is authorized to collect and apply the
<br /> insurance proceeds at Leniier's option �ither to restoration or repair of the Property or to the sums secured by this Deed of Trust.
<br /> 6. Preservation �ar,d Maintenance of Property; Leasehold; Condominiums; Planned Unit Developments. Borrower shall keep the
<br /> Property in ,�cod repair an�1 sha!i noi r,��rnmit waste or permit impairment or deterioration of the Property and shall comply with the provisions of
<br /> any lease if ihis C•c,ed of Tr�.i,i is on a ieasehold. If this Deed of Trust is on a unit in a condominium or a planned unit development, Borrower
<br /> shall perfonr, ali ot Bcrrower"s obiiyations under the declaration or covenants creating or governing the condominium or planned unit
<br /> developme�;t, ti�e by-lavvs and regulations �f the condominium or pianned unit development, and constituent documents.
<br /> [App # 015-08-42200589�
<br /> Initials�_�%_ Inivals:_� Initials: _ Initials:
<br /> NEL'fiC1SKA - Second Ivlortgaye- 1/II0-FNMA/FHLMC UNIFORM INSTRUMENT-Form 3828 (Page 2 of 5)
<br /> Management Systen s Developinen[, Inc (800� 984-6060 loan Energizer!'"" #NE_DEED Copyright(cl 1994
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