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<br />!QGETHER with all the improvements now or hereafter erected on the property end
<br />appurtenances and rents•(subject however to the rights and authorities given herein to Lender tpolect'
<br />ren s
<br />04,4111 of which shall be deemed to be and remain a part of the property covered by thus Det�l Try fir r
<br />foregoing, together with said property
<br />(or the leasehold estate if this Deed of Trust is on a
<br />referred to as the "Property."
<br />,Borrower covenants that Borrower is lawfully, seised of the estate hereby conveyed and has the right to grant and c
<br />the.,.Property, and that the Property is unencumbered except for encumbrances of record. Borrower covenants '
<br />Borrower warrants and will defend generally the title to the Property against all claims and-, errands
<br />encumbrances of record.
<br />LNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />{
<br />1 .Payment of Principal. and Interest. Borrower shall promptly pay when 'due" the , ipsi_,JIM
<br />indebtedness evidenced by the Note,. including any variations resulting from changes m,, Cc tf4 ,aad '
<br />charges as provided in`the Note. k 3
<br />2. Funds for Tales and Insurance. Subject to applicable law and only if requested in wrW., by t�r
<br />shall pay, to Lender on the day monthly payments of principal and interest are payable under, th6 ote; utt the I o
<br />paid in full, a sum (herein "Funds ") equal to one - twelfth of the yearly taxes and assessments (including condomit' T
<br />and planned unit development assessments, if any) which may attain priority over this Deed of Trust, and ound
<br />gi, n
<br />on he Property, if any, plus one-twelfth of the yearly premium installments for hazard insurance, plus one-twelftthi.if
<br />.yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially'atid from time to
<br />by Lender on the basis of assessments and bills and reasonable estimates thereof. Borrower shall no be obligated '£
<br />make such payments of Funds to Lender to the extent that Borrower makes such payments to,,,Ahe;.haitder o a
<br />mortgage or deed of trust if such holder is an institutional lender.
<br />If '$orrower pays Funds to Lender, the Funds shall be held in an institution the deposits t _1,bt
<br />or c n
<br />insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institutioi) Lester shall
<br />the:Funds to pay said taxes; assessments, insurance premiums and ground rents. Lender may, n©t_chargexf sv.
<br />and "applying the Funds, analyzing said account or verifying and compiling said assessments and bills;.�i
<br />Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower.. and
<br />agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower,
<br />unless: such agreement is made or applicable •law requires such interest to be paid, Lender shall not be required to'-'.'
<br />Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting;
<br />the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made
<br />Funds are pledged as additional security for the sums secured by this Deed of Trust.
<br />If the amount of the Funds held by Lender, together with the future monthly installments. of Fuses. ;py4b. le E
<br />s ..,
<br />the-due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the'amourri to,,y
<br />taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be,# era's
<br />either: promptly repaid to Borrower or credited to Borrower on monthly installments of Funds If the' imi Q'n_
<br />Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and grotmd rettits as they
<br />due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments ash
<br />p E M7 L
<br />may require. t � �-
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any funds ?'�'
<br />held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender,
<br />Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Ftitil� t
<br />held by Lender at the time of application as a credit against the sums secured by this Deed of Trust,
<br />3. Application of Payments. Unless applicable law or the Note provide otherwise all
<br />payme#sreceiYed b� �$
<br />under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment'df sm is a bye o
<br />. .
<br />by "Borrower under paragraph 2 hereof, then to interest payable on the Note at the applicable" coact :rale� and
<br />the principal of the Note.
<br />4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall rform all, of I�orrowEr s .obligates x
<br />under any mortgage, deed of trust or other security agreement with a lien which has priority over this Deed of Tru v`
<br />including Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid all tames,
<br />assessments and other charges, fines and impositions attributable to the Property which may attain a priority over`this
<br />Deed of Trust, and leasehold payments or ground rents, if any.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Propeitp
<br />insured against loss by fire, hazards included within the term "extended coverage," and such other hazards as Lender
<br />may require and in such amounts and for such periods as Lender may require.' ` {
<br />The insurance carrier providing the insurance shall be chosen by the Borrower subject t , :approval by ".Let#d ^
<br />provided, that such approval shall not be unreasonably withheld. All insurance policies and renewals_ therei>f.shall
<br />form acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to Lei'' r.
<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 agreement with a lien which has priority over this Deed of Trust.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof
<br />of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the
<br />restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If
<br />Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or ;
<br />restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period will
<br />begin when the notice is given.
<br />If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date
<br />notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the
<br />Property or to the sums secured by this Deed of Trust.
<br />03 -28 -02 DOT
<br />N1007952
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<br />N W245F1436U95DOT9000NE0079520 **WELLER
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