|
<br />88-104847
<br />
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principii .nd Int.,..t. Borrower shall promptly pay when due the principal of and Inlerest on the
<br />~~ye~~~~:~~~~~~:;~J~e :;'yO~ePb::l~\n:U~~d lalechargesasprovlded In the Note, and the principal of and loleraBlon
<br />2. FundalorTa....nd Inaurance. SubJect to applicable law orto a written waiver by Lender, BorrowershBII payla Lender
<br />on the day monthly installments of principal and Interest are payable under the Note, unlll the Note Is paid in full, 8 sum (herein
<br />"Funds") equal 10 one-twelfth 01 the yearly taxos and assessments which may attain priority over this Deed of Trust, Bnd
<br />ground rents on the Property,llany, plus one-twelfth of yearly premium installments for hazard insurance, pi us one-twelfth of
<br />yearly premium installments for mortgage insurancs, If an~, all as reasonably estimated initially and from time to time by
<br />lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Fundsshall be held In an institution thedeposlts or accounts of which are Insured or guaranteed, by B Federal arstate
<br />rn~~~~J~~~~~~~;~~~e~r~~:~~:~t~~ C~nc~e~;;,~~s~~~~~~~g~~~~:~ ~~I~:n~r~~ ~pepr~l~~~~~ f~Xd~~~n~;~i~9a:a~s::~~~i
<br />~:rt~L~~~~~t~~~~~~~i~ ~~:~:,"B:,~~~~~ :~~l~rild;~:~~~rr=r~ :~f~;::t~~~f~~gret~:~~I~~sO'r~I:Ff~a:fl,~~
<br />
<br />that interest on the Funds shall be paid to Borrower, and unless such agreement Is made or appllcalbe law requires such
<br />interest to be ~aid, lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to
<br />
<br />~~~~~~rc;~egi~~gr~~~~nadS a;;~::1a~c;~~t~9n~~~~:~~~~:~~:~Jld~ti~~~~ s~~~~~ f~~ :~~~~~~nB~~~~d ~~ l:,~~rf::J~~
<br />
<br />Trust
<br />If the amount of the lunds held by Lender. together with the future monthly installments of Funds payable prior to the due
<br />dates of taxes, assessments, insurance premiums and ground rsnlo;" shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as Ihey fall due. such excess shall be, at Borrower's option, either
<br />promptly rerald to Borrower or credited to Borrower on monthly installments 01 Funds, If the amount of the Funds held by
<br />Lendershal not be sufficient to pay taxes. assessments, insurance premIums and ground rentsss they fall due. Borrower shall
<br />pay to Lender an)' amount necessary to make up the deficiency within 30 days from the date notice is mailed by lender to
<br />Borrower requesting payment thereof,
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender Shall promptly refund to Borrowersny Funds held by
<br />lender. If un~er paragraph 18 hereof the Property is sold orthe Prope~ IS olherwise acquired by Lender, Lender shall apply,
<br />no later than Immediately prior to the sale of the Property or Its acquIsition by Lender, and Funds held by Lender atfhetlmeof
<br />application as a credit against the sums secured by thiS Deed of Trust
<br />
<br />anlpa~P:~c:h~af :~~~~~:~;~~Il]e;: :ggU;g~; ~;~f~~~~~;rn o~~~~~~;o~~~~~~~n~~~:~?~Vt~:t~~~:~g:~~~~~~~eu~~~~
<br />paragrap~ 2 hereol, then to interest payable on the Note, then to thepnncipal of the Note, and then to interest and principal on
<br />any Future Advances.
<br />.., Chlrgn; Uent. Borrowers shall pay all taxes, assessments and other charges. fines and imposlllons attributable ~othe
<br />Property which may attain a priority over this Deed of Trust and leasehold payments or ground rents, II Rny, in the manner
<br />provided under paragraph 2 hereol or, If not paid in such manner, by Borrower making payment. when due, directly to the
<br />~yee thereof. Borrower shall promplly furnish to Lender all notices of amounts due under this paragraph, and In the event
<br />Bo~~g::~ :~:IIII ~~~~f:~~~~~~~e~~I~'Ii:~r~~rc~ ~~:~rr~~~~~~rt~~r~s~ ~~'t~~~~~~~~:e3,Ytl~:tn~~~o:,~~hsg~rri:N;
<br />
<br />required to diSC~arge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by such
<br />lien In a manner acceptable to Lender. or snail in good laith contest such lien by, or delend enlorcement of such lien In,legal
<br />proceedings which operate to prevent the enlorcement 011he lien or forfeiture of the Property or any part thereof.
<br />
<br />aga~~s~r:::~:,~~~~~:~:r~~~~~h:::~i~~~~~::~~,~oX~:~J':dtsc~~:,:~~!~~~~rs~~~~ri1e~rehr:~~~~S~:~J~r~~ i~:~~
<br />:~ghnc~~~~a~:~~~~~~~r~~~~n~~,I~~~:r~~:~~~~~:J :;~~~~h~r~~~:~:~:icte~~~h~shg~';,e~~~~ that the a,mount of
<br />suc~h~~~~~~~~~~:tf~~~~:~~~~~~~~~~I~n;it~~~~.s~I~~~ee~i~~se~~rn~~~~~~:rpsol~~~t ~~:ff~~0~:13rn Lt~~d~~g~~~I~r~i~h::
<br />under paragraph 2 hereof or, if not paid In such manner. by Borrower making payment, when due, directly 10 the insurance
<br />carrier.
<br />Cla:~~~~rar:~;~,~~I~ci';~O~~d :~;:;~~9~~~r~~~~~:,IL~~~~:~~~lr~;~~~~~;.~~h~~~d ~g~ P~~gi~;~~~er:~:'~:~;~~P.:R~
<br />BorroVi!'er shall promptly fUfOlsh to Lender all renewal notices and all recelptsol paid premiums. In the event of loss. Borrower
<br />Sha~~;~:tL~~S~~~~g~~:~;~s~~~~~;ea~~;~:~nd ;~~~~~i~:~~~~~~:a:e~~~ah~lf~:~glr~ ~~~:t~~~~g~~~le=~gr:~
<br />Property damaged, provided suc~ restorntlon I?r repair is economically feasible and the security of this Oeed 01 Trust is n01
<br />}~~i~irl~g:\r:u~~~~~:~~::~~~~r b:Paaci~:~~~~ ~~~~~I;:~~~:dl~~et~rsl~~'~~~t,O~~r~9th~C~~,r;;~tn~,O~?d ~
<br />~;~ewiir ~~}r~ ';:~E:~~~ :::~~n~r ~ha~~r~r;,~~ro;ni~~~~:~~~~~s t~or:::: ~?a~~nf~~~,:i~~"n~ g:~~:i~~L:;'~~~':
<br />
<br />~U~hs~~~ ~~~eg~~~~ = t~?T~~~ance proceeds al Lender's uptJon either to feslc..ration or repair 01 the Property or 10
<br />
<br />Unless Lender and Borrower otherwise agree in writing, any sucn application of proceeds to principal shall not extend or
<br />postpone the due date 01 the monthly m:itallments relerred to ,in paragraphs 1 and 2 hereof or change the amount 01 such
<br />Installments. It under para3raph 1 B hereof the Property is acquired by Lender, all rilhht title and interest ot Borrower In and to
<br />
<br />:~~Iiln~~~t~~~~~et~ a~e ~~~~ltg1~t~~~~~~eo~;~~~I~::; ~~~~~:~ed~r~~~ri~rP~~~tghlh~:~rO~~~~~::~i~n
<br />kee~ t~~~~~n.~~:~=.:r: :~:lr~;;~~-:~:~;r~c;:;~~t":~~~~:~r~r~t~r~~t~:~~~~~o~~o:neJ :~:ll
<br />~~~~ra~~~th~,ft~~y~~~~~~f:n"l~r:~::;I~~~~~~;~~~~ ~~~~~~!~.~fJ;~Sa~= ~~~~rS~~~ o~:la~~~~~~~n~gv'::~~~~
<br />
<br />creating or governing the condominil:lm or planned Unit development the by-laws and r.egulations of the condominium or
<br />~nned untt development and conslltuent documents. If a condominium or planned umt development rider is excuted by
<br />
<br />Int;:~;::~:l~ ~::e"~~~~~~~~~::1 ~i: =n~~is~~~ ~~r~~~~~~r:;'?s88=~T~~~~: :~~~~~~~~~~~~ 1:'~~~;=
<br />
<br />7. ProIedion of Lendel'a s.curit}'.1t Borrower fai~5 to perform the covenants and agreements contained In this Oeed of
<br />Trusl or it an)' action or proceeding is commenced With materially affects Lender's mtEnest In the Property. including but nol
<br />limited to. enllnenl domain, insolvency, code enforcement, or arrangements or proceechngs involVing 8 bankrupt or decedent,
<br />then Lender al Lender's option, upon notice to Borrower. may make such appearances, disburse such sums and take such
<br />action as IS necessary to protect Lender's interest includ~, but not limited to, disbursement 01 reasonable anomey's fees and
<br />
<br />~n~C6r~~~~~~~~~~~~~sJ:e~~:~~:su~~urr,:vg~~rns~~~~~~~si~;~;~'~1~~nO~W~tl~~m~~:; ~::eu~~ ~~
<br />==~~r~:~~~=~~,r;l~~g~~~~:~~~~'f~~ea;;::'~~~~~~:~e~~9;::,r;~ntr~~~fl:::;.law.
<br />
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with Interest thereon, shall ~come additional
<br />mdebtedn... of90rrower secured by this Deed 01 Trust Untess Borrower and Lender agree 10 other lerms of payment, such
<br />amounts shall be payabJe upon notice flam Lender to Borrower requesting payment hereof, and shall bear interesllrom the
<br />
<br />=':u~d~~=;::t ~::i~xa:;tt~~,~"::~~ ~::~rc~u~~~td~~~~r~~~~~~n~~~r~~a~t~n~~:::~ ~~r~e~:~~~~tle~:~;
<br />pemua&lbleunder appliCBtlle law. NO~lng contained In this par3graph 7 shall require Lender 10 Incur Rny oxpense or take Bny
<br />acbOn hereunder
<br />I. Irwpection. Lender may make or cause 10 be made reasonable enlnes upon ana InSpl."Ctlon5 ollhe Proptlrty. prOVIded
<br />thai Lender &hall gl....e Borrowor notice pnOI to any such Insper:tlon ~peclfylng reasonable t.nust'lhefplollJ 'olnted 10 lender's
<br />Inlerel1m Ule P1opert)'
<br />
<br />:j ,
<br />
|