|
$6.0000 1 02791
<br />aptxic°able law requires such imcfcv , �� gpaicd, I Cfide= sheh 'W ,; gay ficnrciwm ar>y 3Rter st Of earIl n#A isrt -z he Funds i_ertder t.ha4i
<br />give to Borrower. without charge, :v} annual Of hw tut Ai .-to 3eoitw to €fie fund:, e, .� the purpose •,.err whsch ea Oh
<br />debit to the Funds was made. Tree Furids. are pledged a- acMit wAl se u. i s *o hr suns seLuied by this Deed of Twist.
<br />r if the amount of the Fujut her by ;_ endcr, togmilter with the future momithiy .tastallrneiotscif Fonds payable prior to the due dates of taxes,
<br />assersrnents, insurance pre€ttittrrts and grtrttri rents, shal8 exceed the amount required to pay said taxes. aseesstzsents, irtsurattce premiums and
<br />[[[
<br />ground rents as they fall due, such excess Shull tie, at Borrower's optic- n, cit'het promptly repaid to Borrower or credited to Borrower on monthly
<br />installments of Funds. If the arm -Aint of the Funds held b1 Lender shall ncit be suffic-irnt to pay taxes, assessments, insurance premiums and
<br />ground rents as they fall due, Borrower shall pay icy Lender any amount rwcevay. to make up the defi iency within 30 days from the date notice
<br />is trailed by Lender to Borrower requesting payTnent thercof.
<br />Upon payment in full of all sums witted by ,hfs faced of Trust. I ender sfiali promptly refund to Borrower any Funds held by Lender. If
<br />under paragraph 18 hereof the Property is wld or the Property is otherwise- acquired by Lender, Lender shall apply, no later than immediately
<br />prior to the sale of the Property or 'cis acquisition by Lender, any Funr2� hrlo �,y I,eader at the time of application as a credit against the sums
<br />secured by this Deed of Trust.
<br />3. Application of Payments. (feelers appt.icah)e 13w ptc>siclej ivitheru� € . Ali payments received ny Lender ;ender the Note and paragraphs I
<br />and 2 hereof shall be applies! by Lender first in paviiient of amounts o 1_rnder by Borrower under paragraph 2 hereof, then to interest
<br />payable on the "vote. then to the principal of the 'vote, and then to €merest and principal on any Future Advances.
<br />4. Gimmes; [.leas. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which
<br />may attain a priority over this Deed of Trust, and icasehiAd pavinents or ground rents, if any, in the manner provided under paragraph 2 hereof
<br />or, if not paid in such mariner, by Burrower making pay ~merit, what, due. directly to the payee thereof. Borrower shall promptly furnish to
<br />Lender all notices of amounts due under this paragraph, at ad Rn the e•.erir Iiorro14er ihali make payment directly, Borrower shall promptly
<br />' furnish to Lender receipts evidencing such piiymen:s �4ha,l nromptiv discharge any lien which has priority over this Deed of Trust;
<br />provided, that Borrower shall not be required to discharge any uofi :.rs r.s as Iorrower shall agree :n writing to the payment of the
<br />N obligation secured by such lien in a manner acceptable toy Lender, or stall in g.r.: iaoh contest such lien by, or defend enforcement of such lien
<br />in, legal proceedings which operate to pre:•ent rnr �nf�zreernent eta the liege car forfeiture of time Property or any part thereof.
<br />swell
<br />S. Ha Insurawe.. Borrower snail keep he Irriprovetnents now nist)ng or her eat ter erected on time Property insured against loss by fire.
<br />haaazds included within the term "extended >s,verage ", and such ether hatards a, Lender may require and in such amounts and for such periods
<br />as Lender may require: provided. that Lender shaii not require t: =eat ti:c a r. unit ot such Lovrragc exceed that amount of coverage required to pay,
<br />the sums Secured by this Deed of Trust.
<br />The insurance carrier providing the insurance. iha, ?e mosen by BaMro.wer =,iit?lect to approval by Lender: provided. that such approval
<br />ill not be unreasonably withheld. Ali permit. :ns on insurance Maid in the manner provides; under paragraph 2 hereof or, if not
<br />paid in such manner, by Borrower making, payment- when due, dirccti.• act €he insurance .artier
<br />All insurance poiicin and renewals thereof ,shalt he, in f€ mi a,,ept ah`le Fo 1,crider and snail include a standard mortgage clause in favor of
<br />And in form acceptable to Lender. I_endec shall have_ !he - :ght lo hoij ttre p oliscs and reriewais therevl, and Borrower shall promptly furnish to
<br />Lender all renewal notices and ali reccip t„ of paid prerniurrs In the ,hail give prompt notice to the insurance carrier and
<br />Lender. Lender may make proof of loss it not made promptly by llo -r ?wr
<br />Unless Lender and Borrower otherwise agree In writing., msuranoc pr(kceds :hall be applied to restoration or repair of the Property
<br />damaged, provided such restoration or repair tonornicafy feasible and :lie sec:unty of this Deed of !rust is not thereby impaired. If such
<br />restoration or repair is not economically feasible or if the sectirity of this Dcr.; of Trust would be impaired, the insurance proceeds shall be
<br />applied to the sums secured by This Deed of Trust, with the excess, if any, paid do Borrower if the Property is abandoned by Borrower, or if
<br />Borrower fails to respond to Lender within V.) days from the date rioti +.s is maiSed s>, Lender tit Borrower that the insurance carrier offers to
<br />settle a claim_ for insurance benefits, fender is authoruted to ccziiect and apply the insurance proceeds at Lender's option either to restoration or `s
<br />repair of the Property or to the sums ses:ured by ihis Decal of Trust,4
<br />Unless Lender and Borrower otherwise agree to writing, any such appiic:at.c :n or prc>cetds to principal shall not extend or postpone the due
<br />date of the monthly installments referred to in paragraphs l and : hereof or hAnge the amount of such installments. If under paragraph 18
<br />hereof the Property is acquired by Lender, all right, title and interest cif Harrower it,, and to any u1mirance policies and in and to the proceeds
<br />thereof resulting from damage to the Property pros r to the isafe of arqumsitiOn shall pass to Lender to the extent of the sums secured by this Deed
<br />of Trust immediately prior to such sale or acquisition
<br />6. ttwet�adon aims Maialeaaace of Property: Leaaeb"; Coadomiaiums; Plaaaed Unit Devellopmesita, Borrower shall keep the
<br />Prope"y° in good repair and shall not commit waste or petmit impairment of Dieter =oration of the Property and shall comply with the provisions
<br />of any lease if this Deed of Trust is on a leasrboid. If this Decal of .1 rust is an ;i unit in a condominium or a planned unit development. Borrower
<br />shall perform all of Borrower', obhgaticros under the declaration it :ovetiants creating or governing the condominium or planned unit
<br />development, the by -laws and regulations of the �ondotninium or planned unit development, and Constituent documents. If a condominium or
<br />planned unit development rider is executed by Borrower and recorded =.ogether with this Deed of Trust, the covenants and agreements of such
<br />r rider shall he incorporated into and shall anmetid and supplement the covenants and agreements of this Deed of Trust as if the rider were a part
<br />hereof.
<br />7. Praia of t.tader's Security. If Borrower tails to perform the coisenants and agreements contained in this Deed of Trust, or if any
<br />action or proceeding is cotnmexi4ed which matcriaily tffests Lender's inierrwt in the Property, including, but not limited to, eminent domain,
<br />insolvency. code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender's option, upon notice
<br />to Borrower, may make such Appearances., disburse such Turns and take such action as is necessary to protect Lender's interest, including, but
<br />not limited to, disbursement of reasonabir attorney's fees and entry upon the Property to make repairs. if Leader required mortgage insurance
<br />as a condition of making, the loan secured by this peed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect
<br />until such titre as the rtgwrem•cnt for such Insurance tertninateii In accordance with Borrow'er's and Lender's written agreement or applicable
<br />law. Borrower _shall pay the amount of a #I tortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Airy amouttts disbbutsed by Lender pursuant to this paragraph ', with interest thereon, shall become additional indebtedness of Borrower
<br />wcurgd by this Deed of True. Unless Borrt_Y*cr arid Leader agree to other terms of payment, such amounts shall be payable upon notice from
<br />f Lender to Borrower requesting Payment t
<br />hereof, and shall t?exr interest teem !hr :late of disbursement at the rate payable from time to time on
<br />outuanding principal under the Mote unless payment of interest at such .rate would he contrary to applicable law, in which event such amounts
<br />shall bear itertm at the hightV rate permissible under applicable law. Ntyihing contain -d iii this paragraph 7 shall require Lender to incur any
<br />expense or taste any siction hereunder
<br />is
<br />t_ [aaot"lllies, Leader rrtav make ,,r is aiw to he made reusonabilc enirtrs = rson and to --MOr ns of the Property, rmolded that Lender 4iuil
<br />gay's BKirtfiwet tmortice prt��r tt only it ch fr3s1.xitil -m sticcifyintt reasonabie au�t .hrrt-t }r reiated €o Lender's interest in the l'r =.tperty #>
<br />CX eeds of arty dwc^� ;41 i?r ; "l snt �ttr '?zi r;i C ii e�< tN . ?rot. 5 , ;, , ;,,
<br />e g sequrr ears a _t_sznei .itf oily cond-,insia O -i
<br />'.:41ser titJoAs of the Pr m -t4 of W! :hrTet'•f, i�°r s .tr c €°ont•£'Vsme in hcu a f i onot.mriv3Cin,. are nerebs ass+jttieti j-(* t2t . ,� «:m '. i'� f i'F:ifL'r
<br />i in zfie evew. €s+ r -o at ^<aftirig of ifs,- Provw*rty. r.ir ,'W ag�n-4rS o zhC 'Iirns
<br />V*Ad in W -etn'W in "ho' rrerm of 4 rtos•ssl Sarre .it f Iho P,q >tu-r.. �a; :'ice $3s ;.<•c�: � ;s; n.. <,, .,
<br />-10 „..f4E' s.trnt ai3 :'. its ri. 1r5�'w .,f ! .: �. ". tom-.: tFa ..3t ta.. .o of th,".'
<br />.t• �,t -� , ., _ -air ...., cr'�d,,..,
<br />t
<br />
|