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<br /> , � CONSTRttCT10N SECURI?Y tNTEREST � • � _•
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<br /> � �'•• ; n Thfi Apramant�pcwa� nn nbllpntton whlch the TroNor -----_'-------—
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<br /> • n 1A1C7Yt) fi O�Y�II. � `•.:..�-'o>Yi��_. .
<br /> UNIFORM COVENANT3.8orrower and Lender covenant and agree as foi�ows: :►�i;.._
<br /> x� _ •• ' �.���.,. _..
<br /> � � 1. Payrtant ot Pdncipai�nd IM�rssf. Borrower ahall prompUy pay when due ihe principal of and Interest on the , �,A4..,___-
<br /> � ; indebtednesaevldencedbytheNote,prepa mentaodletechargesasprovidedintheNote.andtheprjncipalatandtnterASton _ ..�m�-���
<br /> + • � .„ any Future Advancea secu�ed by the�ot Trust •„�.�_�-.____
<br /> �. FundstorUxa�ndlew►artc�.SubecttoapplfcablelewortoawrittenwalverbyLender.8orrowershetlpeyto4ender :;-�s;:�;.:f_�,��.,
<br /> - • • onthodayn�onthtyinatellmentsof prfncfpa�and�nt�resterepayableundertheNote.untlltheNotelapaidlnfutl,aeum(herofn _�4*i-
<br /> "Funda")equal to one-twelfth of the yoarly taxea end aaeeeamenta wMch may atta�n prlority over this Osed of Truat,n�d �a,�{
<br /> �° groundrentsonlheProperty.ftanY,pfueone-tweifthofyeadypremiumfnstallmentatorhe=ardinaurence.ptusone•twelfthot 4 �
<br /> yearty premlum installmenta tor mortgage inaurance,It eny,ati as reneonabty eatlmated initielty and irom dme to dme by „ �
<br /> ' ;
<br /> � Lender on the basis of eeaeasments and blils and reaao�able esdmates the►eof. • .;;,:�--_
<br /> TheFundsshallbeheldinani�aritutionthedepositaoraccountso}whicherelnsuredorgusranteed,byeFederatotsteto u .,,�'�:.y_
<br /> . � agenoy pnaluding Lender if Lender Is auch an inatitudon►.Lender shali apply the funds to pay aeld texes,aseessmenta, � :_�,�,___ _
<br /> ,e • " insurancepremlumsendg�oundrenta,LendermaynotahargeforsoholdingendappiyfngtheFunds.anelyzingeafdaccount ... �.:,�,�.,--
<br /> orverNyingandcompiiingsatdesaeasmentsandbitisunleaalenderpa s8orroweNnte►estontheFundsanda pltcableiew � ,,,:=:•__
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<br /> permitalendertomakeauchacharge.Borrowerand�.endermeyagree nwntingetthedmeofexecutlonofthls ofTrudt .� , __
<br /> ' ' that intereat on the Fu�ds shall be pald to Borrower,and untees such agreement ia made or app1ic81be law requirea euch ,T:�,
<br /> intereat to be pald,Lender sheli not be required to pay Borrower nny interest or earninga on the Funds.Lender shalt give to ;-
<br /> // B o rrower,without cha�Qe,an annuat accountlng of the Funds showing credits and de6lts to the Fu�de and the purpoae for � .;•'S+'
<br /> whiah eaah debilto!he Funda was made.The Fundsare pledged as additional seCUr ity tor t he s u m a s e c u r e d b y thla Oeed ot ,
<br /> Truat .•��:4�
<br /> If the amou�tot tho funds hetd by Lendor,together with the futu�e monlhiy insta��ments of Funda payable prior to the due _
<br /> dates ot taxes.assessments,t�surance premiums and ground rents,shall exceed the amount�equired to pay eaid taxes. .'__�_-_
<br /> :"' assessments, insurenca premfums end ground rents as they fall due,such excess ahail be,at Borrower's opdon,e1Mer _,
<br /> . _...__..:. ..._ oromptW repald to Borrawer or creditec!to Borrower on monthty�nsteliments of Funds.lf the amount ot the Funds held b . G�,_r.-.T
<br /> L__._�_.
<br /> — . Lendershellnotbesumuentropayiaxtls.naatlan���o��ta.ii�but8rCo��CRtftit:'s�«Rd gt^tsR�ranmaqthwyfalldue.Botrowetshal -_�µT _
<br /> pay to Lender any amount necessary to make up the deficle�cy within 30 days from the dete notiae Is meiled by lender to , ,w„�_
<br /> Bonower�equesUng payment thereot. ' �� �-
<br /> es
<br /> Upon payment i�fuNof ait sums secured by thia Qeed of Trust,Lender sha�l prompUy refund to Borrower any Funds hetd by � _
<br /> Lender.If underpt��8greph 18 hereof the Property is eold orthe Property isotheryvise acquired by Le�der.Lende�sha�t epply. Y�
<br /> ' no Iate�than immedlatelyprior to the sale of the Property or its acquisit(on by Lender,and Funds hetd by lender atthe time of � _
<br /> eppifcaUon as acredit apainst the sums secured by this Deed ot Trust ., �
<br /> � 3.Appl4eadon ot Parmenb.Uniess appticable taw p�ovides othervvise,ell peyments received by Lender under the Note . � r
<br /> and paragrapha 1 and 2he�eof sha�l be eppl�ed by Lender tlrst�n payment of amounts peyabte to Lender by Borrower under I ;�wA,�
<br /> paragraph 2 hereof,thento interest payable on the Note,then tothe pnncipel of the Note,and then to Interestand princfpal on � �f�
<br /> any Future Advencea. �
<br /> 4. Ch�roos;Uenf.Borrowersshellpay ailtexes,assessmentsandothercharges,tinesandimpositfonsattributabletothe � ., �. .% �,
<br /> Property whtch may attaln a prioriry over this Deed of Trus�end leasehold paymenta or ground rents,if any,in the manner I ` „ .�,�¢�
<br /> provided under pe�agteph 2 hereot or,ff not�eid in such menner,by Borrower making payment,when due,direatly to the � a
<br /> pe yee lhe�eol.8o�fowpr ahall promptly turn�5. 'o lender eli notices of amounts due under thfs pe�8graph,and in Me event 4
<br /> BotrOwer shall make'p8yment dlreCti . 8orrowur shaQ rom tt tum�s h co Len der ra:a l p t s a v i d a n c�r s g auch payment� _- - __
<br /> Borrower shall promptly dischgrge any Iien whicn has prloriry over this Deed ot Trus�provided,that 8orrower shal l not be �
<br /> requlredtodischargeany suchliensolongas8orrowershallagreeinwritingtothepaymentoftheobllgatlonsecuredbysuch � ,
<br /> ilen in a manneracceptebte to Lender,or shatl in good faith contest such lien by,or detena entorcement of such Iien in,Iegai I � ,� i
<br /> proceedings which operate to prevent the entorc.ement of the Ilen or fo�teiture of the Property or any part thereof.
<br /> 5. M�sard insuranee.Borrower shal�keep the Improvements now exfating or hereafter erected on the Properry Insured . � •�
<br /> agalnst loss byflre,hatards inctuded within the term"extended coverage",and such other hatards as Lender may reqwre -- �
<br /> and in such amounts and for such perioda as Lender mey require:provided,thet Lender sheli not require thet the emount ot ,°-�
<br /> such coverageexceed that amount of coverage required to pay the sums secured by this Deed ot Trus4
<br /> Thislnsursncecars�erptovidingtheinsuranceshalibechosenbf�Bonowersub{ecttoa�proveiby Lender;provided.thet I i�
<br /> ' undeaper8g8aph 2 hereof or.if not pabdyn such mun�ner by Borrower meki g payme�tawh n due directly to the insuCene
<br /> carner.
<br /> , Alt tnsurance p4iicfea and renewals thereof shatl be rn torm acceptab�e to Lender and sha�l incl ude a standard mortgage �
<br /> f cleuse in favorof and intorm acceptabte to Lender.Lendershell have the nght to hold the poi�ciesand re�ewats thereot,and :�,.1��_
<br /> Borrower shallpromptlyfurnish to Lenderall renawal notices and alt receiptsof paid premwms.l�theeventot Ivss.Borrowe� r,�. ., �.
<br /> shail give prompt noticeto the�nsurence carner and Lender.�ender may make proof of loss d not made promptly by Borrowe►. :� . �
<br /> Unleas Le�de�and Bor�ower otherwise egree m wnting,insurance proceeds shalt be applied to�estoration or►epatr ot the _
<br /> Property dameged,prov�ded such restorat�on or repair�s econom►cally feas�ble and the secunty of this Oeed of Trust is not '�-
<br /> thereby fmpafted. If such restoration or repau�s not econom�cally feasible or�t the secunty of thts Deed of Truat would be ,f.,`
<br /> � impeired.the msurance proceeds shall be appf�ed tu the sums secured by this Dued ot 7rust,w�th the excess,d any.pe�d to
<br /> � Borrower If the Properly is abandoned by Borrowe�,or d Borrowet fe�ls to respond to Lerder within 30 days trom the date �,
<br /> � notice ia metled by Lender to Borrower that the msurance carner ottets to settle a cla�m tor insutance benetits,�ender�s
<br /> Suthorlied to collect end eppIy the��aurance proceeds at Lender's opt�on edher fo restorat�on or repau ot the PropeAy or to , �s
<br /> the sumB seCUred by thls Deed of Trust. .
<br /> Unles8 Lender and 8orrower otherw�se agree m wntmg,eny such appl�catio�of p�oceecls to pr mcipa�shatl not extend or
<br /> postpane the due date ot the monthty�nstallments refe�red to m paragraphs t and 2 hereot or change the amount ot such �3,
<br /> �nstallments.Hunder paragraph 18 hereof the PropeAy is acqwred by Lender,all nght,title and�ntereatof Borrower m and to
<br /> any inaurancepolicfesand in and to the procoeds thereof resuN�ng from demage to the P�operty pnortothe sete oracqwsit�on
<br /> shell pess to Lender to the extent of the sums secured by th�s Ueed of Trust�mmediately pnor to suCh sale or aCquisit�on. ;
<br /> 8. Preservatio�a�d Malntonance of PropeKy;Leaseholds;Cnndominiume;Planned Unit Developmenh.Bcrrower shell
<br /> keep the Property in good repau end shall not commit waste or perm�t�mpaument ot detenorat�on of the Property and shatl
<br /> complywilhthep�ovisangofany�ease�fth�sDeedofTrua��sonaleasehold.Iith�s0eedotTrustisoneurnt�nacondomimum
<br /> � or a pfennad unit development.Borrower shati pertorm all ut Borrower's obtigat�ons under the dec�aration or Covenants
<br /> creatlng or gaverrnng the condom��wm or planned umt develOpment,the by-laws and regulat�o�s of the Condom�n�um or
<br /> � ' ptenned unit develOpment,and constituent documents.II a condomirnum or planned umt development nder is exCUted by
<br /> � Bonowe�andrecorded together with th�s Deed ot Trust,the covenants and agreements ot such rider shall be mcorporated
<br /> , into and shall emend end supplement the Covenents and egreements ot this Oeed of Trust as�t the nder were a part hereof.
<br /> 7. Protectbn ot landor'e Socu�lty.If 8orrowur fads to pertorm the covonants and agreements conta�ned�n this Deed of
<br /> TruB�or if a�yaction or Proceeding�s commenced w�th matenel�y aNects Lender's�nterest�n the Property.mcluding but not
<br /> Ifmlted to,eminentdoms�n,insoWency.Code enfarcement.or arrangements or proceedmgs mvolvirig e bankruptor deCedent,
<br /> then lender atLendnr's option,upon nouce to 8orrower.may make such appearances.disburse such sums and take auch
<br /> actl0nesisnecesserytoprotectLender'smterest.mcludmg.butnott�m�tedto.tl�sbursementofreasonableattorney'sfeesand
<br /> entry uponthePrapertytomakerepairs.IlLenderrequ�redmoAgageinsuranceasacond�t�onotmakmgthetoansecuredby
<br /> the Deed Ot Trust,Borrower shall pay the premwms requ�red to mainta�n such msurance m effeCt u�t�l suCh t�me es the
<br /> requirementtorsuchmsuranceterm�nates�naccordencew�th8orrowersandLender'swnttenag�eementoreppt�Celbelaw
<br /> ' Borfowor 8he�pay the amount of all mortgage msu�enCe pe�'mQu ms��n 1he m h�ntwpast�heeon.�shetl8become add tonal
<br /> _ - i►ny amounis oisuurbiru :,y ' a��:.�: P�:��°•... .-
<br /> indebtednes9ot Borrowersecured by fh�s DeeA ot Trust UnCess�oriower and lenderagreeto othertermsof paymem,sucn
<br /> � � am0u�t8 shall be payable upo�notico Iram Lender to Borrower requeSt�ng payment hereot.end shell beer�nt�rest frOm the
<br /> dateoldiabursementettheratepeyabletromtimetot,meonoutstanqmg prmc�pa�undertheNoteuntesspaymentotinterest
<br /> ; j at such rnte would be aontrary to app��cabie inw.�n wh�ch eve�t such amounts snatl bear�nterest at the h�ghest rate
<br /> ' p8rRf19SiblB und@repWiCable lAw Noth�nq contnmed in th�s paraqraph 7 ShaII requ�re l.ender to mcur eny Oxp@nse Or tek8 8ny
<br /> 't tlCttOfl h@t@U1b@t.
<br /> 8. �nspeCUo�•Lender may make or c3use to be m�de reaSOnnGio entnes upon rind inspectans of Ihe property,prov�ded
<br /> that Lender snall g�ve8orrower nonce pnor to:iny suc h mspe�thon st�t�c�fvmq�pa5c�neb�e causethere�ore retated t�Lender's
<br /> • �nterest m thePrqperry
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