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<br /> ; • ''�y� °" � !f Boaower pays Funde to Lendcr,the Funde�hafl be held in an inatitution the deposits or accounts of which ue __
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<br />- insured ot guaronteed by a Federal or state agency lineiading LRSnder iP Lender is such an inatltutienl.Lender shall appiy
<br /> .. . .. �,. •,y' �`'._�3� _re_s��R�a..
<br /> the Funds to pay eatd taxes.assessment�,insuraace pcemiums and ground renta.i.ender m�ty rat ehurgo for so holding -
<br /> , . %l .,�,��,_ ;�% and applying tho Funda.andy�tng:ald account orvositying s�d compiling�uid aaseasmeats and bilis.uniess Lender ���
<br /> - � �:. - - '�r pAya�8onrawer incerest an the Funds�nd Appiic�►bla!�w permita Lendec to m�ice auch�charge.Borrower and Lendcr —
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<br /> • ��;;��,. y 4�;;�1� may ngrea in writtng at the Nme oF executtoa of thts Deed of Trust thst tnterest on the FwiQs ehall be paid to Borrowet, — _
<br /> ,� � and ualess auch agrament is mude or applic�bis!tw aqui[es auch intetest to be paid,Lender ihall not be reyuired ` -
<br /> _ .•;�, - to ps�y Sarrowce uny lnterest or eatnings on the Funds. Lender shWl give to Botrowet, w1thout charga, en annu�l �,_�;� �_
<br /> ' {�� „ , aa.wunt[ng of the Funds ahowiag crediu and debits w the Funds aad the purpose for which es�ch debit to the Funds wu �-
<br /> - � • ° made.The Funda an pledged as additional security for the sums seeured by thls Dad of 7Yuat. -���=-�___
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<br /> " . If the amount of the Funda held by I.ender.togethee with the future monthly installmenta of Fuads psyable prior W � ��=:;-
<br /> the due dates of tuses,ass�ssmeats.tnsurance premluma and ground rents,shail eaceed the amovat requte+ed to pay aaid � �:,:.�_
<br /> . . tazes,assessments.insuraace premiume and geound rents as thry fal!due.such e:ceas aha11 be.ut Horwwer's option, °;.:}y.:x,__
<br /> �-� elther promplly repaid to Botrower or cndited to Borrower on monthly instaUments of Puads.!f the amount of the •,,;-�-______
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<br /> � , : Funds held by Lender:hati not be sufRcient to puy ta�ces�assessments,insu�ance pnmiums and gtuuad rents as they falt � f:•=ti••___
<br /> due.Borrower shali pay to Lender aay.amount aecessary to maice up the deRcieacy in one ar more payments as Lender � "-��`::�.,.
<br /> ..,.,��::�.t.,_-_-
<br /> ,. .. may require. �" , `- v -
<br /> � ' � � Upon payment in full of all sums secured by this Deed of Trust,L.ender shul!pramptly rctV�nd to Borco�yer any . . � °�' ����.
<br /> � Funds held by Lender. If under paragraph 17 hereof the Pcoperly is suld or the Propetty is otherwise acquired by ` j""'
<br /> ,� • �� Lender.Lender shall apply,no latet than immediatcly pdor to the sale of the Peoperty ot Its acquisition by Londer.any ; ._�_-.
<br /> �.. Fuads heid by Lender at the time of application us a credit agalnst the sums secured by this Dad of Trust. , _ ____
<br /> 3. Applfaatlon ot Ps�ea►a. Unless applicable law provides otherwise,all payments rec�ived by Lender under _ —..
<br /> � � the Note and paragraphs 1 and 2 hereof shall be applled by Lender Rrst in payment of emouats payable to Lender by y___
<br /> � Borrower under paragraph 2 hereof,then to Interest payable on the Note,and then to the princtpal of Rhe Note. t` ^�-
<br /> 4. Pdor Mortgages aad Deed� of TrmtR Cb�a; Iaeas•Borcower shall perform gU of Borrower's obligations � ,'`' +ri��:_� ��
<br /> under any mortgage.deed of mist or other secudty agteement wlth a lten whtch has pdortty ovec this Deed of Trust, � :.�'; ;;.°;;4:��•.:
<br /> including Borrower's covenants to make payments when due. Bonower shall pay or cause to be paid all texes, , _N==_4
<br /> ' assessments and other charges,tines and impositions attributable to the Property wh3ch may attatn a priodty over this �. " ���-
<br /> Deed of Trust,and leaschold payments or ground rents,if any. , , „ ��� �
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<br /> S, H a u r d t i u p r a n c e.B o n o w e r s h a i l k e e p t h e jm provements now ezisting or hereafter erected on the Ptoperty ,..,,f---
<br /> . ' ' insured against loss by Rre,hazards includeA within the tetm"cxtended roverage",attd such ather hazerds as L en der , .; . ;!
<br /> - -- -- - - _ - ma y re qulse sad in such amounts and for such periods as Lender may require. l_�___ S� r�..�`
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<br /> The insurance earrier providtng the iasurance sh a11 be chosen by Borrower subject toapproval by I.ender;provtded. �
<br /> that such approval shall not be unreasonably wtthheld.All insurance pollcies and renewals thereof shall be{n a fotm � '►;' '�
<br /> acceptable to Lender and shall include a standard mortgage clause in favor of and tn a form acceptable to Ixnder. ,
<br /> Lender shall have the right to hold the policies and renewals thereof,subject to the terms of any mortgage,deed of trust :; ,�; (
<br /> or other security agrccment with a lien which has pdorlty over this Deed of Trust. . .•.
<br /> In the event of loss.Borrower shall give prompt notice to the insurance carrier and Lender. I.ender may make proof . -. a•� '
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<br /> of ioss if not made pmmptly by Borrower.• � �
<br /> �c.:.,��
<br /> If the Property is abandoned by Borrower, or If Borrower fa{ls to respond to I.ender within 30 days from the date ,� -�
<br /> notice is mailed by I.ender to Borrower that the insurance carrier offers to settte a claim for insurance beneRts,Lendec is „
<br /> • authar�zed to copect and apply the insurance proceeds at Lender's optton either to restoration or repair of the �
<br /> Property or to the sums secured by thls Deed of Trust.
<br /> 6. Praervatton�d Matuten�na af Properqc Leasehold�s Condominiaau� Planned Unit Derelopmena. Bor• ,r"�.%��
<br /> rower shall keep the Property In good repair and shall not commjt waste or permtt impatrment or deterioratton of the -•',;'�'�.
<br /> Property and shall comply with the provisions of any lease if this•Deed of Trust ts on a leesehold.!f thts Deed of Trust is ''�' • .
<br /> on a unit in a condominium or a pianned unit development,Burrower sha{1 perfarm al!af Borrau�er's obl{getions under �-
<br /> the declaration or covenants creating or governing the condominium or planned unit development, the bylaws and
<br /> �, regulatlons of the condominium or planned unit development.and constituent documents. � �
<br /> 9. Pe�nterdon ot Lender•�Securth.If Borrower fails to perform the covenants and agreements contained in this I •
<br /> Deed of Trust,or if any action or proceeding is commenced which materially affects L.ender's interest in the Property.
<br /> then Lender,at Lender's option,upon notice to Borrower,may muke such appearances,disburse such sums.inclading �
<br /> reasonable attorneys'fees,nnd take such action os is necessary to protect Lender's interest. If Lender required mortgage �
<br /> tnsurance as a coadition of making the toan secured by thts Deed of Trust.Borrower sh all pay the premtums required to i
<br /> matntain such insurance in effect until such time as the requirement for such insurance terminates in accordance with
<br /> Bonower's and Lender's written agreement or applicable law. ,
<br /> Any amounts disbuned by Lender pursuant to thts pnragraph 7, with interest thereon.at the Note rate.shall .
<br /> become additional indebtedness of Borrower secured by this lleed of Trust. Unless Borrower and I.ender agree to
<br /> ' other terms of payment, such amounts shnli be paynble upon notice from Lender to Bonower requesting pnyment �
<br /> thereof.Nothing contained inthis puragraph 7 shall require I.ender to incur any expenseor tuke any action hereunder.
<br /> 8. Inspection.Lender rnuy make or cause to be made rcasonable entries upon and inspections of the Pcoperty, !
<br /> • provtded that Lender shall gtve Botrower notice prior to any such inspection specifying reasonable cause therefor
<br /> related to Lender's interest in the Property.
<br /> 9. Condemnatton.The praceeds o!'any award ar claim for damages.direct or consequential,in connection with
<br /> any condemnation or other taking of the Property. ur part thereof. or for conveyance in iieu of condemnation. are
<br /> ' hereby assigned and shalt be paid to I.ender,subject to the terms of uny mortgage.deed of trust or other securtty Agree•
<br /> �T ment with a lien which has ptior3ty over this Ueed ot i rus�.
<br /> � 10. Borrower Not Releuedi Forbewrance By Lender Not a Wutrer. Extension of the time for payment or
<br /> , modification of amortization of the sums secured by this Deed of Trust granted by Lendec •o a oy successor in interest of
<br /> Borr�wer shall not operate to release,in any manner,the liability of the original Borrou�er and Borrower s successors in
<br /> interest.Lender shall not be requircd to commence proceedings aguinst such successor or refuse to extend time for pay
<br /> ' �• ment or otherwise modify amortization of the sums�ecured by this Deed of 1'rust by reason of any demoad made by thc
<br /> originai Borrower and Boreower's successors in intetest. Any Corbearunce by Lender in exercising any right or remedy
<br /> ' 3 hereunder,or othernise afforded by appliruble lau•. shall not be a wuiver ot'or preciude the exerctse of any such right or
<br /> ; �' remedy.
<br /> 11. Suca�easote wnd A►ssigiu Houndt Jotnt and Serenl Llabilttyt �o•eignen. Thr covenc�nts and agrerments
<br /> ; herein contained shall btnd.and the rights hereunder shalt inum to.thc respective suc��esson and assigns uf Lender and
<br /> • Borrower.subject to the provisions of pnragraph ib hereof.All covenants und agrcements uf Biimiwrr�hatl be joint und
<br /> � ' �seYet:►I.Any Borrower who co•signs this I)eed af Trust,but dces not execute the Notr.lal i�ra•�igning this Ueed af rrust
<br /> only to grant and convey that BonoWer'•,inter��st in the Propeny t��Tru�ter undcr thr urme uf ihi, I)eed��f 1'ru�t.lb)i,
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