|
V116 1O1B Q
<br />73
<br />U"WCMM COVtNasrra. Borrower and Lender covenant and agree as follows 86-
<br />I- lslf-eas Of lhsmelPal and bvkv". Borrower shall promptly pay sthe n due the principal of and nntenest on the
<br />%rndebtHnass evidtseed by rite Nose. /eeP.ywlewt said We charges u Provided in she Note, and the principal of and interest
<br />on an Fnturo Advances secured by f ' lased of Trust.
<br />>t�ria fir Tmw iilid lhtao olne . Subject to applieahk law of to a written waiver by Lender, Borrower shall pay
<br />to lender on the day monthly iftusamtnts Of principal and interest are payable under the Note. until the Note s paid in full.
<br />a wan (herein "Puads "} ywl to•ome- twelfth of she yearly Uses and ssarssmen4 which may attain priority over this
<br />Do" of Trent, and ground rem" em the Property, if any, plus tsne•twel(th of yearly premuim installments for hazard insurance.
<br />phisesnr•twel(Ih Ot yearly premium unuaaments for ntonsage insurance, if any• all as reasonably csumaicd initially and from
<br />bane to time by Mender on the basis of assesaeircms and bdk and reasonable estimates thereof.
<br />The Funds shall be held in an itnpilution the ekpMils or accounts of which are insured or guaranteed by a Federal or
<br />Wage agetecy (including Lender if Lender is such an institution). lender shall apply the Funds to pay said taxes, as%es %mcnis.
<br />insurance prcmiuntu and ground_ rents. Lender may not charge for so holding and applying the Funds• analyzing said account
<br />or verifying and compiling said asacssmems and bilk, unless Lender pays Borrower interest on the Funds and applicable law
<br />ptrntiis Lender to snake such a charge. Borrower and Lender may agree in writing at the lime of exeamon oI this
<br />Deed of Trust that interest on the Funds shalt be paid to Borrower, and unless wch agreement is made or applicable iaur
<br />requires such interest to be paid. Lender r`tall not be requited to pay Borrower arty irtcrc%f or carnin�s on the Funds Lender
<br />aMil give to Borrower, without charge, an annual accounting of the Funds showing credits and dehns to the Funds and ohs
<br />by for which each debit b the Punts was nude. The Funds are pledged as additional security for the sums secured
<br />the Deed of Trust.
<br />if the amount of the Funds held by Lender, together with the future monthly inmaltmentt of Funds Payable prior ter
<br />the due does of tasa, assessments. insurance premiums and ground reins, shall exceed the amount required to pay said axes.
<br />aaapamants, insurance premiums and ground rents as they fall due. %tech excess shall be, at Borrower's option, either
<br />pr raptly repaid to Borrower or credited to Borrower on monthly insoallmenis of Funds. if the amount of the Funds
<br />heoM ey Lender shall not be sufficient to pay Uses, aa+essments. insurance premiums and ground rents as they fall due.
<br />BoffGwer shall pay to Lender any emoting mecessey to make up she deficiency within 30 days from the date notice is mailed
<br />by Lander to Borrower requas'iag payment Ihltep(.
<br />Upon Payment in full of all sums secured by this Deed of Trust, tender shall prnmptly refund to Borrower any Ft•:,,Js
<br />Iseld by Lender. If under paragraph 19 hereof the Property n sold or the Property is otherwise acquired by I ender 1 ender
<br />shall apply, no Inter than immediately prior to the sale of the Property or its atgnmm�n by Lender. any Funds held by
<br />Lender t the tint of •Qp1ication at a credit against the sums secured by this Deed of Trust
<br />J• APPNedlsm N Ta Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof that; be appload by Lender first n payment of amounts payable tr Lender by Borrower
<br />under paragraph i henot• then to interest payable on the Note, then cot principal of the Note. and then to interest and
<br />Principal on any Future Advances.
<br />f. CbeMn; Lotus. Borrower %halo pay all taxes. asseument% and other charges fines anti mpoaruons anributable io
<br />the Property which may attain • priority over this Deed of Trust, and leasehold payrnernts on ground rents. i any, in the
<br />manner provided under paragraph 2 hereof ne, it not paid in such manner, by Borrower making payment. when due. directly
<br />to the payee thereof. Borrower shall promptly furnish to Lender all notic of amounts title title under this paragraph, and in the
<br />event B e m
<br />orrower shall make payment directly, Borrower shall promptly hirnrsh to Lender receipts evittencing such payments
<br />Borrower shall promptly discharge any lien which hat piority over this Decd of Trust. provided. that 1lorrowcr shall not he
<br />required to discharge any such lien so long a Borrower shall agree in writing to the payment of the oblrgatn.n secured b%
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of cu %h lien rn
<br />legal red' s which operate to prevent The enforcement of the hen or forfeiture of the Property or any pan therenf
<br />; L•�sr�J Im mmee. Borrower shall keep the improvements now existing or hereafter erected on the Prupcny inured
<br />against loss by fire, hazards included within The term "'extended coverage' , and such other her ids as I ender may tegired
<br />and in such amounts and for such penods a Lender may reyurre, prove cd. that Lender shall not require that the amount or
<br />stieA coverage exceed that amount of coverage required to pay the tuns secured hs thy. Decd of Tint
<br />The insurance eaaver providing the insurance shaft be chosen by Borrower sahic(t to approval by I ender, ptovidul
<br />that wch approval shall not be unreasonably withheld All premiums on insurance policies shall he paid in the manner
<br />iA u eeceutrier rafgraph 2 hereof or, it not paid in such manner, by Borrower making payment, when dire• directly to the
<br />All insurance policies and renewals thereof shall be in loom acccpiablc to I ender and .hall mOudc a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right to hohi the pobues .Ind renewals thereof.
<br />and Borrower shall promptly furnish In Lender all renewal notices and ail •receipt% ui paid premium% In the event of Ina%.
<br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender may male proof of tot% if not made prompit)
<br />by Borrower
<br />Unless Lender and Borrower otherwise agree in - turn$, insurance proceeds %hall be applied to rcvuxarton or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the sec-ti, of this Deed of Trust ,%
<br />nos thereby impaired. If such rearoration or repair is not economically feasible or -1 the scarily of this Deed of Ti,so wand
<br />be impaired• the rnaursnce proceeds shall he applied to the sums secured by this Deed of 7 rust, with the caeca%, if any, patio
<br />to Borrower. If the Property is abandoned by Borrower. or if Borrower tali% to respond to Lender within 30 day% from the
<br />dime notice is muted by Lender to Borrower that the insurance career offers 10 settle a Orion for insurance benefit% Lender
<br />rs suthorTred to collect and apply the insurance proceeds at Lender "t option either on restoration or repair of the propcny
<br />Of to the swiss secured by this Deed of Trust
<br />Unless tender and Borrower otherwise agree in writing, any such appircat,mt of prtxceds to principal shall out extend
<br />or postpone the dire date of The monthly instaaments referred to in I-aragraph% t and I harnl or change the amount of
<br />such installments If under paragraph IM hereof the Property is acquired by Lender ,ill right, title and interest of Borrower
<br />unt of
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acgwdtion shall pass to Lender to the extent of the sums secured by this Deed of Trust nnmediately pint to such safe or
<br />acquisition.
<br />f. Pnasevarla and Malieenanc: of Prarany; Lessrsotds; CeMonsiab nss; Planned Un11 Develootments. 8nrrnwer
<br />shall keep the Property in good repair arfd shall not commit waste or pernm impannx'm „r Jeierinrah,m nl the Properly
<br />end shalt comply with the provstom of any lease if this feed of T•uso is on a lesschold It this Deed of Trust is on a unit in a
<br />of ce shah creaunartoned unit develnpmenl, Borrower shall pedorm all of Borrower s obligations under the declarat,un
<br />R governing the condominium or planned unit development, the bylaws and regulalrnns of the
<br />eondorttineum or planned unit dtvtlopmtnl, and constituent documents if a condominium or planned unto de- elnpmeni
<br />rider n executed by Borrower and recorded together with this Decd of Trust, the coveltants and agreentenl of such rider
<br />shale he Incorporated Into and shall amend and wpplemem the covenants and agreements of this Deed tit Trust as if the rider
<br />7. Pteam. am of y Actio Se. pr., U Borrower fails to perform the covenants and agreements contained in this
<br />Used of Tom• or i( its 1Orion or ler40memng is commenced which materially aNecn Lender's interest in the Property,
<br />including but not limited Te, tmninen? domain, ir"olvascY, code entorcement, or arrangements or proceedings involving n
<br />bankrupt of decadent. then Lender at Lender's option• upon notice to Borrower, may make such appearances disburse such
<br />IM" and last wch action as is necessary to praecl Lender s interest, including, but not limited to, dnhui%ement of
<br />rsrweahle atormayi fens and entry upon the Property 'o make repair' If Lender required mortgage insurance a% a
<br />eomdNion of making ?M ban secured by this; a( Trust, Borrower shall pay The premiums required to maintain such
<br />iMmrNlea'" ease' ardll such firm t the requirement for such insurance terminates in accordance with 8orr0wer's and
<br />Lemdecs written agrtetncnt or ap/iicabk law Borrower shall
<br />mdmtw Provided under pens aph 2 hereof. pay ofK amount of all mortgage insurance prcnuwns In the
<br />isdfeMedne" o Boss t>� secured by th�isrlleed 1 Trull' Unless Fbnswer and h Coder ngreeto nthr shall ms olorne adc i1.0 h
<br />sonatinas shall be slot u t
<br />Ny poi notice from Lender to Borrower requesting payment Ihtrcol, and shall 1x•119 ,'left" Ifom the
<br />date of too* would a floe isle payable Iroen lithe to lime on outstandmg principal under the Note unless paymtnt .,I interest
<br />M such rase would lot conlrrry to appiicabk law, in which event much amounrs %hail hear -rfre.t at the h,ghe%t rats fp§
<br />perm"mooffe undo apPlieabte law Nothing conluned in thus paragraph ' Mall require Lfndei in ncur ens expense or tike
<br />MY action hereunder ui
<br />tt Ias►estloa I ender may„mski ,_ cause any be o,sde frojonat.le enrne% upon :, n.! „I it, P,..• .nr fir,,, „kJ
<br />,hat l rider %hail a,.r IF:urerret
<br />inters, ,n the proaenv arch 'naR n sprctr.,u rea%onat.;
<br />e f `,`J irSr the rflt. 'ftaifJ 1�• I t+iJC=
<br />
|