|
87-- 102306
<br />If grower Pays Funde Io Lender, the Funds shall behold in an institution the deposits or accounts of which are Insured or
<br />guaranteed by a Federal or slate 40WW (Including lender it Lender is such an institution), Lender shall apply ihe Funds Ice peal said
<br />tax*' ttatp>ti� c Premiums and ground rents. Lender may trot charge for so holding and appryin0 the Funds, analysing
<br />sold accou" or vein ompNlrp said laaeaaments and bills, unless Lender
<br />law Permits Lander tO malcr such a charge, Borrower and Lettiyer ping Borrower Iof execution on the Funds are applicable
<br />that admen on the Funds SW W may sera in rotating at the ulna of low luir pt this Deed of Trust
<br />Paid to Borrower, ad tall *a such agreement is made or applicable law regWr* such Interest to be
<br />Paid, Londo Nay not be required to pry Borrower any Interest or #wfv on the Ftxnde, Lender SW give to Borrower, without
<br />olyrge, an annual accounting of the Funds showing credits and debits to IM Funds and the purpose for which each debit to rM i hw
<br />watrrnade The Funds aypNdged as addtiorel aecuriry nor1M gttna sacurOd by this Doo of Trutt.
<br />If the amourx of the Fur hold d by Le►hder, together with the future monthly irgtaWorits of Funds payable Prior to the due
<br />del* of (ixa,paostmorxs, insurance Pramiurns and grournd rents, shall "Ceed the anOuhtfegUr*d to paysaid taxes, assessments,
<br />wgtrence Pramkang andground retina as they fay due, such excess "bill, at Borrower's option, Wlhgr promptly repaid to Borrower
<br />or credited to Bonovwr On monthly IfMManents of Funds, If the arrant of the Finds hold by Lender shay not ba sufficient to pay
<br />make tp insurance Tarannium's OrmlOr and ground rents as they fall due, Borrower shell pay to be
<br />any amount necessary 10
<br />Payments as Lender may require.
<br />"M PWnSM n fury of IN Mm Secured by this Dad Of Trust, Lender shall promptly refund to Borrower any Funds hold by
<br />Lerder, if under paragraph 17 hereof the Progeny Is sold Or the Property IS otherwise acquired by Lender, Lender shall apply, no later
<br />than immadietaly prior 10 the sale of the Property or its acquisition by Lender, any Funds Mid by Lender at the tkfle of aaplication as a
<br />colt agaMSttM stma secured by this Deed of Trust.
<br />>R AMlipgoht Of rerlllotlta. Unless applicable law provides Otherwise, all payments received by Lender under the Note and
<br />Paragraphs 1 and 2 hereof Shelf be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2
<br />hereof, then tointerat payabieon the Note, and then tothe principal of the Note.
<br />4. l rIM ktert5epe eul Daede of Trent; Chw@M Lkm Borrower shall perform all of Borrower's obligations under any
<br />mortgage, deed of trust Or Other security agreement with a lien which has priority over this Deed of Trust, including Borrower's
<br />cOvWWS to make polimentS when due, Borrower Siall pay or cause to be paid all taxes, assessments and other charges, fines and
<br />impositions attributable to the PrC�ty which may attain apriority over this Deed of Trust, and leasehold Payments or ground rents, it
<br />any.
<br />B. IMal lnrAw"- Borrower shall keep the mprovaments now existing or hereafter erected on the Property insured
<br />against 1055 by tire, Words Included within the term "extended coverage', and such other hazards as Lender may require and in Such
<br />amounts and for such Periods as Larder may require.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lander: provided, that such
<br />approval" not be unreasonably withhold All insurance policies and renewals Thereof shall be in a form acceptable to Lender and
<br />Shah include a Stadard n'rortgagectause in favor of and in a form acceptable to lender. Lender shall have the right to hold the policies
<br />and renewals is Dee thereof, subject to the terms of any mortgage, deed of trust or other security agreement with a lien which has priority
<br />Over this Deed Ot Trust.
<br />in the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if
<br />not rnade promptly by Borrower.
<br />If the Property Is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is
<br />related by Lender tO BOrrOwer that the insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to collect
<br />andapPly the insurance proceeds at Lender's option either to restoration or repair of the Property or to the sums secured by this Deed
<br />of Trust.
<br />S. shoo keep the M had M@ln%nwm Of Froprty; LOSO Nde; Cendgn6Mwns; Manned UMt DevalopinemM. Borrower
<br />oPKry in good repair and shall not corhmit waste or permit impairment or deterioration of the Property and shall
<br />Comply with the provisions Of any lease if this Deed of Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium or a
<br />Waned unit development, BOrrower shah perform all of Borrower's obligations under the declaration or covenants creating or
<br />9ovKnKng to condo **M Or Waned unit development the by -laws and regulations of the condominium or Warmed unit
<br />dw'NOP row, andconsmtuM documents.
<br />7. Freleetlan of Lwwbr'e 2"Wijty. If Borrower falls to perform the covenants and
<br />Trust, orif any aClionor proceeding isCari encedwhichttaterialtyof factsLendersinterestinthePamiln containedinthisDeedof
<br />Option, upon notice to Borrower, may make such opert„ then lender, at Lender's
<br />Sticll action as IS appearances, disburse such Sums, including reasonable attorneys' fees. and take
<br />necessary TO protect Lerdsr's interest. If Lender required mortgage instranC9 a , a COrdi1,0 of making the IOan
<br />Secured by this Deed Of Trust, 9orrowsr shall Pay the premiums required to maintain such insurance rtio !' in effect until Such time as the
<br />raguirwrWR for such insurance l0 maim!" in accordance with Borrower's and Lender's written agreement or applicable law.
<br />Any omOunts dabursad W Lefler Pursuant to this Paragraph 7, with interest thereon, at the Note rate, shall become addtional
<br />ndebte0n"s of Borrower secured by this Pad of Trust. Unless Borrower and Lender agree to other terms of payment, sttCh
<br />amOtrMs Shea be Payable upon notice from Lender to Borrower requesting payment thereof. NOthirlg contained I rm In This paragraph 7
<br />Shall 1`0000 Lender to incur any expense Or take any action herelrider.
<br />111• kuPutWL Lefler meymilks Or cause 10 be made reasonable entries upon and Inspections of the Property, prihndeO that
<br />Lefler array giro Borrower notice prior to any such inspection Specifying reasonable CauSO therefor related to Lender's interest in
<br />aperry.
<br />COnlenfIL C n dM rm"WL Ot ins Proceeds of any Sward or clam for darages, direct Or cOn
<br />OPerry, or pat thereof, or for conveyance in lieu of c sequerltial, in connection with any
<br />Shall be pad to Lender, Subject to the terms of any mortgage, Read of trust or other security agreemenriw to a een n has a" I
<br />Over this Deed of Trust,
<br />t0. feneeaer Not Ilaleea Farboorarxr. gy Lender Net a WNver. Extension of the tme for panateflI or modification of
<br />ampnis~of the sots seared by INS peed of Trust granted by Lender to any Successor in interest of Borrower shat rot operate
<br />to TOWO e, In anymor~, the liability of the original Borrower and Borrower's successors in interest. Lefler shall not be retired to
<br />C mmori" Proceedings against such Successor of refuse 10 extend time for payment or otherwise modify Shall
<br />ination Of tae ed to
<br />secured by this Dad of Trust by reason of any demad made by the original Borrower and Borrower's successors in interest. Any
<br />f Orbit W" by Lender in exercising any right or remedy hereunder, Or ofterw or ow forded Dal Borrower's
<br />taw, shat not i t waver Of
<br />Or PreOkhde the exercise of any such right or remedy.
<br />11, WAMB@BM NOW Ai @Nm bound; Joint ens Severe, Ua" tar, CO-V1V M. The covenants and agreements Mien
<br />contained"bind, ad the rVMS herauder ON inure to, the respective auccessors and assigns or Lender and Borrower, subject
<br />to Hie Pro.tecs of Wrf�aPh 1 B hereof. All covenants and agreements of Borrower shall be joint and several, Any Borrower who
<br />txt-sigro nos Deed of Trent, but does not execae the Note, (a) is co- signing this Deed of Trust only to grant and cOrwey that
<br />BorrO'wer's Interaat In the property to Trust" under the terms of this Deed of Trust, (b) is not PW SOnally liable On the Note or under
<br />this Dad Of Trust, and (c) agrees That Lender and only Other Borrower hereuder may agree to extend, modify. forbear . Or make any
<br />Dth1K aftomrttOdanpa with regard to the terra Of this Dead of Trust or the Note, without the Borrower's con Sent and without
<br />releealng then Bonowar or rnOdifymg this Deed of Trust as to that Borrower's interest in the ut h&I Property.
<br />L
<br />IEMAiKA- ►h01yE h+asgOvEMENT- 1 /80- FNMAil"Cli L"FOMS IWTltt MNT
<br />verve. te.
<br />tae 2 of 4
<br />MUTT
<br />
|