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<br /> • , ° ' � UN{FOAM COVENAMS.6orrower and Lender covenant and agree as tolto�vs: . �
<br /> � � �� • '� 1.Payn�ent o!Prinetptt and-In4si:�b Borrowor shalt prompBy pay when due tt�a principai o!and interes4 on ihe ° ,,• � '�=
<br /> •' iRdent8drte9sevIdc+ncedbytheNote.prepaymentandiatechargesasprovcdedintheNote,andtheprin�ipalafan�int��ton � . :�_
<br /> . . ' any Future Advartcas aecured by the Deed at Tmst_ � '�°-
<br />- • . ������ ` 2 FundatarTaxavdlniaean�e•S�ab1'ecttoapplicablalawortoawrittenwaiverbyLertder.Earro�rershallpaytoLender .
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<br /> '.� , '� � cnthedeymonfhlyinsffitlmentaofprirtcipatandintarestarepayaDlepndertheNote.untlltt�Kotetspaidinfull.eaum(Rarein �� .�
<br /> "Funds")equal to oRe-twelfth of tha yeady texes end asspssmenta whECh may attein pdor[ty over this Qeed oi Tryat and r : _ � : ,� #
<br />-� i groundrentaonthePraperty.ifany,ptusone-LwelMotyearlypremiuminsffiltmentstorhetardinsurenta,plusone-trireiRTtot ,�
<br /> ----�., yeariY Orsmi��tms�for mcrtgage.ins�srence.�t any.ati as Eeesonably estimated tni�alty an�kom fime to timb�y� . - `��
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<br /> LenQeron f!►e basis of ess9ssmeats and Dilts and�asonabta estimataat�ereot
<br /> � ' TheFundsahailbehe�dinantnsNh�tianthedeposibaraccounbofwhichareinsursdarguaranteed.byeFederaloraffita �;.
<br /> ' agency CnctuQing Lentler it Lender is such an instiUrtionj.l.[3nder st�af�eppiy ths tunds to pay smi9 taxes.asaessa�►ants, �
<br /> � insurar►cepremiumsandgroundrents.LendermaynotchargetorsoholdingartdappryingtheFund;.anatyzingsai�aacoum .. �•5 _�
<br />� • � � otveriryingandcompilipgsaidassessmentssndbUts.untassL�rtderpaysBorrowerinteirestontheFundaan0appticaDlstaw • • � --
<br /> � :.�,�,_.. -
<br /> � � • � permitsLendertomakesuchacAarga.Borroi+rerandLendermayagreeinwritingatthetimeofex0eutionottfiisoeeaotTrust ,_ �-
<br /> � thet inte�t on the Fu�ds shaD be pa3d to 6orrower,end unie�auCh e reement is made or pticaltie taw�equires auch :' ��_,
<br /> � � interesttobepsidlertdershallnctberequiredtopayBorrowerenyint�restoreamingsont�a�Funds.lende�ahaliglveto ,,,=' � �}
<br />� � � � Borrower.withoutcharge.snannualaccounttrtgoftheFun�sshow�ngcreditaandde6itstotheFnndaandthe purp03etar ��=_'=��•:���-�
<br /> '. � whicbeachdebittotheFundswasmadaTheFundsarepiedgedasadditionatsecurirytorthesumsaec�sredbythisOeadot , �•�-���<<_w�
<br /> � ' • � Trust• K�+x�ree ,:-�
<br /> • lf the amountoifl�e tundsheld by Eender,togetherwith thefuture monthty inslallmenb otFunds payablepRa�to th9due �
<br /> dates ot taxes,assas�ner►ts.insurance premiums and ground rents.shatl axceed the.emaun3 required to pey aaid t�ea. : ----
<br /> � � assessrt[enb,insuranee premiums and ground rents as they fail Que.such excess shall he.at Borrower'a opUore.eiMer .':_;�,�`,�:���_
<br /> prampUy repaid to Borroxrcr or credited to Bonower on mo�thly instalimeMs ot Funds.II the amount ot the FnnQS AeCd Cy =-"a,;��
<br /> • • ' Lendersfialinotbesufficienttopaytexes,assessments.insurancepremiumsend roundrentsasthaytalldue.Barrovrershall ry_,-�--
<br /> pay to Lenaisr any amount neeesaary to make up the deTiciency within 30 days�am the date notice is mailed Ey Lendsi to :_: _ .
<br /> ' � . Borrower requesGng paym�ntthereoi . . •..,-.5-�-----
<br /> UponpaymentintutlofallsutrassacuredbythisOeadotTrus<I.endershailpromptlyretundtoBorroweranyFundshetdby : .;,����.-
<br /> •. �� Lender.ltunderparag�b/8hereofthePrape�y issoldortheProperty►sotherwiseacquiredbylender.Lenderehailapyiy �-___ -
<br /> - ' nola�rtAanimmediat8lypriartothssaleofthePraperlyoc.its8cquisitfonbyLendar.andFundahB►dbyLenQeratthetfrt+eo� � _
<br /> � , � • aPAfiCation as a credit against the sums secured by th(s Deed of Trust ` �
<br /> ' 3.AppUCaSon oi Pa ts.Uniess appiicablo Iaw pTOVldes otAerwise.all paymenta received by Lertder under the Ptote �,.;�—
<br /> � • e n d p a r ag r a p h s 1 a n d 2 e r e o f s h a l t b e a p p i i e d b y Lender fi�sl in p a yment of 8mounts payabte to Lender by BoRawer under �
<br /> ' . �arag�b2�h�e�re�of.�thentointerestpayableonMeNote.thentoMeprinGpalottheNote.anaffientointerestendprincipalon
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<br /> ' �.Cha�pa;U�ns.Borrowersshailpayalltaxes.assessmenbandothercharges,finesandtmposit'consaWiDutabfetathe ..:rt�
<br /> � Property whictt rnay atffiin a priority over this Oeed of Tnist and leasehold pay►�:ema or ground rents.i1 arry,in the manner � ,--
<br /> , . �.^ provided und^�paragrapb 2 hereof or,if not�aid in auch manner,by B�rrower makingpa ymet�l,when dua directiy to Me ��;._ _ ,r�;-�_
<br /> payeethareoLBoaawershailprompUytum���.•oLenderatinoticescta^ncuntsduoundbrthisparagraDA.endintheave� ��; � ��,-
<br /> ' � • Borrower shall make paymen!dtrectly,Bflrrawer shatl promptty itasnis8 W l.ender raceipts evidencing suCh payments. '�':� •5.,,,
<br /> •• Borrower shall promptly di�s3rge Sny lien which has pnority o�er this Oeed of Trust ptovided,that Borrowe�sha11 not De ��r.-
<br /> - � � requiredtodisehargear►y su�itiensolangasBorrawers!-,�tlagreeinwritingtothepaymentottheobligatlonsecuredEysuch • �, .
<br /> .:����:, ' � tieninamanne�acceptabtetoLender.orshaflingoodfai;.hcontestsuchllenby,otdetendenb�cementotsuchlienio.tegal . :; ,
<br /> � proceedings which operate ta prevent tho enlorcement of the lien or torteiture of ths PropeRy or any paRthereot. : .. , '.
<br /> 5.Rasard Inturann.Bonower shatl k�p the improvementanowexisting or hereaftererected on the Proq�erty insured , � �,
<br /> � • against loss by flre.hazards inctuded wi�°�the term"exter►�ed coverege",and such other hazards as Lender may require
<br /> andinauchamounbandtorsuchperiodsasLendermay requir�provided,thattendershatirtotr uirethattyeamountof - � -
<br /> . � . • " such coverage exceed that amount of caverage reqwred m pay the sums secure0 by this Oeed of�rusi _,��
<br /> ` � Thtsinsurartcecarrierprovidirtgtheinsurancest�aUbechosenby Borrowersubjecttoepprovalby Len4ierpravided.t�►at
<br /> � such approvel shall not be unreasonably withheld.All premiums on is�surance policies ahaii be patd in the manner provEded �` ,
<br /> ' • � . undet paragtaph 2 hereof or,if not paid in sach ma�ner,by Banowermaking payment,when aue,directtyto the insurance
<br /> . . . Carrle►. t
<br />' � • Al1 insuraace poftcfesand renewalst�er�of shail be in torm acceptable to Lender anA shail includea standar0 mortgage �� '� . •
<br /> ' � clauseintavorotandinformaccepffibtetoLender.Lendershallhavetherighttohotdthepolictesandrenewatathereof,en0 ;��,r.�.
<br /> BOROwershaflprompdytumishtoLenderallrenewalnoticesandaltceceiptso�paidpremiums.Intheeventoilosa6o►rowet
<br /> sflaitgivepromptnaUcetotheinsurancecarrierandLenCar.LertdermaymakeproofottossifnotmadeprompUyby6ottower." .',`• ""�..�.-
<br /> � Unlesslenderand8orra�-erotherwiseagreeinwriting,insuranceproceedsshailbeappliedtorestoraUonortepairotthe" `.t��..�'j._-�
<br /> � " ' Pro e dama ed.provi�e0 such restoration or repair is economiCally teasibfe and the securi o1 tttie Deed a1 Trust is Aot3 `���,� �
<br /> ,._�_�_
<br />' � the eby impatred.It Such restoration or repair is not economicaliy feas��te or it Me security of is Oeed ot T�uat woutd b8: '•,�r..
<br /> � � impaired,the insvrance proceeds sha116e applied to the sums secured by this Deed of Trust with the excess.if any,paidtb •`:� ;�S�
<br /> ' Boaower.i4 tT.a Property is abandone0 by Borrower,or it Borrower taiisto respond to Lender within 30 days trom the EBt�.. , _
<br /> �- nottce is maile0 by Lender to Bonower that the insurance canier oftezs to settle a cta�m for insurance benefib.LenQer is � '• ' "
<br /> authodzedto coltectendap piy the insurance proceedsat Lenders opdon either to restoration or repair af the Propa ortoF ``'� '� '�
<br /> nY . f-� '�.:.. -
<br />. � . the sums secured by this Deed of Trust :�`�'•��F';�`�,
<br /> :� - � � UntesoLenderandBorcawarotherwiseagreeinwr;Ung.any suchapplicationotproceedstoprincipalshaltnotexter�dot -.
<br /> � � posfpone the due date of the monthty instaltments roterred to in paragrapfis 1 and 2�ereot or change the amoun!oi such "r►:.'" . � `��y;_
<br /> • � � �nstaltmema.tf under paragrapb 16 hereol the Pr0pesty is acquired by f��der,ai!righL titla and intetestOf BOrrower in andto '. �
<br />•�*� ' anylnsura��cspoliciesendinandtotheproceedsthereofresulUnghomdzma9etothePropertyprtort�ttte8eteoracquisition • '.
<br /> _ shail pass to Lenderto the extent of the sums secured by this Oeed of�rust�mmediately prlor to su�h sala or acqwsition. •
<br />` - � • 8.PceservaUonandMair^enaneeofProp�rty;Leub"saida;Condominluma;PtarmedUntt0ave4a�menb.Borrowershat1 , f
<br /> • � keepthe PropeRy In good reAalr and shall no1 comm�t wGsie or permit impairment o!deterioraUon o!the Property 2nd sha11 •
<br />- ' • Compiy withtheprovlsionsolanyleasoilthisOeedolTruStisonaleasehotd.IfihisOeadofTrustiaonaunitinacor��ominium •-
<br /> � � or a p(anne0 unit davelopment,Bo�rower shall pe�torm all 01 BorroweYs obfigationa under the deciaraUOn or covenants .
<br /> � � creaUng or goveming the condominium or plenned unit dev8lopmen�the by-taws and regulaUOns o1 the ConOomiNUm or
<br /> � � planned unit devetopmont and constituent documenl�.if a cor�dominium or pianned unit dev�loDrt:2nt rider is excuted by
<br /> • � Borrower and�ecordedtogeiher with this Deed of Trust,the covenants and a�greements Of such rider shail be incorporated '. • i
<br /> � � � � into and shaii amend end supptement the covenants and agreementsot tAis Deed of Trustes if t�e rider were a paA hereol. . • �
<br /> � . � � � 7.ProtecUon of Lende�'e Seeurity.tf Borrower faits to pertorm thecovenants and agreements conTained inthis Oeed of
<br /> � ' Trust or iteny acUon orproce..°d�ng is commenced with materiallyeftects Lender's interest in the Piroperty,inetudlr�g but not �
<br /> � UmitBdto.eminentdomam,insoh+ency.ca0eentorcement,oranangementsorproceedingsinvolvinga6ankruptorQeceden� �
<br /> - � then Londer at Lender'soptlon,upon notice to Borrower,may make sush appearances,disburse such sums and take such .
<br /> � acttonasisaesessarytoprotectLe�ders�nterestincluding,butnotiirn:��dto,disbursememotreas�nableattosney'steesand ,
<br /> � enWuponthePropeRytomakerepalrs.i}Lenderrequiredmortgagemsuranceaseconditionofm2kiagthefoansecuredby � .
<br /> � � the deed ot TrusL Borrower shall pay the premiums required 3o mamtain such insurance in eftect until such Ume as Ihe , .
<br /> r requlrementfo►SUChinsurancetermlrtatesinaccordancewith6orrower'sandLer.Qe�swrittenagreeme�totapplicalbe(aw. ;
<br />= � Bonower shell pay ihe antount of atl mortgaga insur8nce permiums imthe manner provided under paragraph 2 hereot. � •
<br /> � Any a�mour�ts dlsbursed by Lender pursuant to this paragraph �, with interest thereon, shall 6ecome additional •
<br />- � '� indebtednessot8ortowersecuredbythis0eedolTrusLUntesaeor�owerandLenderagreetoothsrtermsofpaymentsuch ( •�
<br /> - � � � emounta shall be payabte upon notice irom 1.ender to Borrower requesting pa ymertt hereof,and srz:l bearinterest trom the (
<br /> ' ' � dateofdisbursemenlattheratepayaFitefromtimetotimeonoutstartding principalundertheNote�sr.:esspaymentoliMerest ;. � , '
<br /> ��i . � , � at such rate would be conuary to appticable law,in v�hieh event sucb amounts shall bear interest at the highest rate •
<br /> ' ,� permissibtAUnderappticablelaw.NothingcontsinedinUfisparagraph7sha�lrequuelendertoincuranyexpenseartakeany . ;�
<br /> � ' action hereunder. � ' ,
<br /> + ' 8. lalpeCtien.Lendet may make or cause to be made�easonabteentrles upon and inspections of the Properry,proviCed • .
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