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200206716
<br />TO SECURE to Leader the repayment of the indebtedness evidenced by Borrower's note dated June 24th, 2002
<br />and esteaslons and renewals thereof (heroin "Note "), in the principal sum of U.S
<br />s22,125.00 , with Interest thereon, providing for monthly installmete of principal and interest. with the balance of the
<br />indebtedness, if not sooner paid, due and payable on J u 1 y 15 t , 1017 ; the paymca[ of all other sums, with interest
<br />thereon, advanced in accordance herewith to protect the - -malty of this Dead of Trust; and the performance of the covenants and
<br />agreaments of Borrows heroin eanlsdaed.
<br />Bortower eovanaeti that Borrower Is lawfully selsed of the estate hereby convoyed and her the right to grant and convey the
<br />Property, and that the Properly is unencumbered except for encumbrances of record. Borrower covenants that Borrower warrants
<br />and will dafead generally the title to the Property against all claims and demands, subject to encumbrances of record.
<br />UNIFORM COVENANTS, Harrower and Lender covenant and agree as follows:
<br />L Payment of PrinelpQ and IlutaresL Borrower shall promptly pay whan duo the principal and Interest indebtedness
<br />evidenced by the Nom and late charges As provided in the Nola
<br />2. Funds for. T aom and Iasnsanee. Subject}o applicablo law or a written waiver by Lender, Borrower shall pay to Lender
<br />on the day monthly payments of principal and interest arc payable under the Note, until the Note is paid in full. a sum (heroin
<br />"Funds") equal to oae-twelfth of the ymrly taxes and assessments (Including condominium and planned unit development
<br />assessments, f any) -which roar again priority over this Decal of Trust, and ground rents on the Property, if airy, plus one -iw fth of
<br />Yearly premium Installment far hazard insurance, plus onc - twelfth of yearly premium installments far mor'gago Insurance, If any,
<br />all as reasonably estimated initially and from time to time by Lender on the basis of assessmor s and bills and reasonable estimates
<br />thereof. Borrower shall not be obligurd to make such payments of Fonds to Lender to the extent that Borrower makes such
<br />payments to the holder of a for mortgage or deed of trust if such holdmi is an instJWtional lender.
<br />If Borrower pays Funds to Leader, the Funds shall be held in an institadon the deposits or accounts or which are Insured or
<br />guaranteed by a federal or amts agency (including Leader if lender is such an institution). Leader shall apply the Funds to pay said
<br />taxes, assessments. Insuraaco premiums and ground roots. Lcndcr may not charge for so holding and applying the Funds, analyzing
<br />said account or verifying and eomplllng said assessments and bills, unless Leader pays Borrower interest on the Funds and
<br />applicable law permits Loader to make such a charge. Borrower and Lender may agree in writing At the time of execution of this
<br />Deed of Trust that interest on the Funds shall be paid to Borrower, and unless welt age amont Is made, or applicable law rcCqqulr"
<br />such Interest to be paid, Lender shall not be required to ay Borrower any Interest or earnings on the Funds. Lender shall give to
<br />Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which
<br />each debit to the Funds was mada. The Funds are pledged As additional socurlly for the cams secured by this Decd of Trust.
<br />U the amount of the Funds hold by Leader, together with the future monthly Installments of Funds payable prior to the duo
<br />dates of uazea, assrssmanls, insurance premiums and ground rents, shall exceed the amount required to pay said lazes, Assessments.
<br />insurance premiums and ground rants as the fall due, such excess shall be, a Borrower's option, either promptly repaid to
<br />Borrower or credited to Borrower on monthly Installments of Puads. If the amount of the Funds held by Lander shall not be
<br />$13M eni to pay taxes, assessments, insuranoe premiums and ground rants as they fall due, Borrower shell pay to Lender any
<br />amount necessary to make up the deficiency in ono or more payments as Lander rosy require.
<br />Upon payment In full of Ali sums secured by this Dead of Trust, Lender shall promptly relund to Borrower any Panda held by
<br />Lender. If under paragraph 17 hereof the Property L sold or the Property is otherwise acquired by Lander, Lender shall apply, no
<br />later than homed lately prior to the We of the Property or its acquisition by Leader, any Funds hold by Lander at the time of
<br />application as a credit against the soma seenred•by this Dood of Trusr.
<br />3. Application of Psymm is. Unless ap2licable law provides otherwise, all payments received by Leader under the Note and
<br />paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2
<br />hereof, then to laW"t payable on the Noss, and th® to the Principal of the Note.
<br />4. Prior Mortgages and Deads or Trust; Char es; Lima. Borrower shall perform all of Borrower's obligations under any
<br />mortgage, decd of trust as ollnor z=nty agreement with a lien which has priority over this Deed of Trust, including Borrowce s
<br />covenants to make payments when due. Borrower shall pay or cause to be paid all taxes, assessments and other charges, fines and
<br />Impositions attributable to this Property which may attain a priority over this Deed of Trust, and leasehold payments or ground
<br />rears, if any.
<br />S. HaYard Ls uraner Botrowv shall keep the improvements now existing or hereafter created on the Propcny Insured
<br />against lass by tire, hawda includod.withln the rum "extended coverages" and such other hazards as Lender may require and In
<br />such amounts and far such psrlads as Leader may require.
<br />The Insurance; carrier providing the Insurance shall be chosen by Borrower subject ro approval by fender; provided, that such
<br />approval shall not be ususa --ably withhold All insurance policies and renewals thereof shall be In a form acceptabla to Lender
<br />and shall Include a standard mortgage clause in favor of and in a form acceptable to Lender. Lander shall have the right to hold the
<br />policies and renewals thereof, subject to the terms of any mortgage, dead of trust or other security agreement with a lice which has
<br />priority over this Deed of Trust.
<br />In the event of loss. Borrower shall give prompt notice to the tusuranra carrier and Leader. Lender may make proof of lots if
<br />not mods promptly by Borrower.
<br />If the Property is abandoned by Borrowar, or If Borrower falls to respond to Lender within 30 days from the data notice is
<br />mailed by Loader to Borrower that the insurance carrier offers to scale a claim for insurance benefits, Lander is authorized to
<br />collect bud this insurance ptncccds At Lender's option either to restoration or repair of the Property or to the sums secured by
<br />this Dead of rose
<br />6. preservation and ^W ^nee of Propeartttyy; r uLse olds; Condominiums; Planned Unit DeveiopmenUL Borrow" shall
<br />kelp the Property In good repair and shall not commit waste or permit impairment or deterioration of the Pro ry sod shall sum ]
<br />with the provisions of any lease if this Deed of Trust is on a leasehold f this Dead of Trust !a on a unit Jn a condominium or a
<br />planned unit davolopmeat, Borrower shall perform All of Borrowers obligations under the declaration or eovenaris creating or
<br />governing the condominium or planned unit devalopment, the by -laws and regulations of the candbmltdum or planned unit
<br />development, and conatlaunt documents
<br />7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained In this Deed of
<br />Trust, or if any action or proeeedjaZ is commenced whIeh.materlally affoets Leader's interest in the Property, than Lender. at
<br />LAadaea option, upon notiea [a Borrower, may make such appearances, disburse such sums, Including r ssonable Attorneys' fees,
<br />and take such Action as is neeassary to protect L.audar's interest. If Lander required mortgage Insurance As a condition of making the
<br />loan secured by this Deed of Trusk Borrowts shall pay the premiums required to ma antla such insurance in effect until such time
<br />As the requiranant for such insurance tarminatas in accordance with Borrower's and Lender's wrfdten agreement or applicable law.
<br />Any amounts disbursed by Lander pursuant to this pare rapp7ht 7, with Interest thereon, at the Note rate, shall become additional
<br />lndebtadness of Borrower sacuted by this Deed of Trust unless Borrower and Lender agree to other terms of ppayment, such
<br />amounts shall b''s payable upon notice from Lander to Borrower requosting payment thereof, Nothing conwdnod in this paragraph 7
<br />Khali require Lender to inert any expanso or take say action hereunder.
<br />L Inspection. Lender may make or cause to be made reasonably entries upon and Inspections of the Property, provided that
<br />Lender shall give Borrower node& prior to any such inspection specifying reasonable cause therefor rclalyd to 'vest in
<br />the Property.
<br />F61taa(NE) teasa)
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