|
IJTMttzrattrvt Cavttahugs. Borrower and Lender cavenart and agree as follows:
<br />I. Pay3nend of Principal and Interest. Borrower shall promptly pay when due the principal aF and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the prircipal of and interest
<br />on env Future Advances secured by this C)eed of 'Trust.
<br />2, Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shalt pay
<br />to Lender r?n the day montfily installments ot" principal and interest are payable under the Note, unfit the Note is paid in fu[l,
<br />a sum (herein `"'F'unds") equal to one-twelfth of the yearly taxes and assessments which may ateain priority ever this
<br />Reed c>f Trust, and ground rents on the Property, if any, pltrs one-twelfth of yearly premium installments for hazard insurance.
<br />plus one-twelfth of yearly premium installments for mortgage insurance. if any. ail as reasonably estimated initially and from
<br />time to time Fly Lender on the basis of 'assessments and brlls and reasonaule estimates thereof.
<br />'The Funds shall Ere held in an institueion the deposits nr acaxtnts of which are insured or guaranteed by a Federal or
<br />state agency {including Lender if Lender is such an institutions. Lender shall apply the Funds to pay said taxes, assessments.
<br />insurance premiums and ground rents, Lender may not charge far so holding :end applying the Funds, a.n.alyzing said account
<br />or verifying and compiling said assessments and trills, unless Lender pays 8orrowcr interest. on the Fttnds and applicable law
<br />permits Lender to make such :r charge. Ban'ower and E.ender tray agree in writing at the time c>f execution of this
<br />Lleed of Trust that interest on the Futrds shalt he graici to Borrower, and unless ~.trch agreement is made or applicable law
<br />requires such interest to b<: paid. Lender shall not be required trt pay Borrower any interest ur earnings an the Elands, l.etsdcr
<br />shall give. to Borrower, without charge, ;an annual accounting of the Funds showing credits and clehits to the Funds and the
<br />purpose for which each debit to the Funds was made. 'f he Funds are pledged as additional security for the sums secured
<br />by this Deed of Trust.
<br />If the amount of the Funds hefd by Lender, together with the ftrturc mernt}tty installments of 'f=unds payable prior try
<br />the due dates of taxes, assessments, insurance premiums and ground rents, sha91 exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground tents as thep tali due, wch excess shall be, at Barrow=er's <,ptiotr. either
<br />promptly repaid io Harrower or credited to Borrower r?n monthly installments of funds. if the amount r?f the Fund;
<br />held by t..tnder sha91 not be suilicient to pay taxes, assessments, insurance premiums and f~round rents as they fail due,
<br />Borrower shall pay U<r Lender any amount necessary Yo make up the deficiency within 3C1 days-frpm the date. notice i~, retailed
<br />by Lender eo 1'sorrower requesting payment thereof.
<br />Upon payment in full of a1f sums secured by this C]ced rat T'rtrst. Lender shall promptly refund to Borrcewcr any Funds
<br />held by Lender. if etnder paragraph 1S hereof the Prnpcrrg rs :old +~r ttee Property rs otherwtsc acquired by l,cndtr. 3_endcr
<br />shall apply, net Cater than rmmediatel}~ prior err the sttlc ..f' the. 1'n~pert~° or its ,aiyuisitton by Lender„ ;tny' f=;tnds held tr_y
<br />Lender at~tha; time of application as' a credit against Cho ,ums secured by this Decd of Trust.
<br />3, t\ppdirrafion of Payments. l.ln3tss ,tpphrtble lass provide, a,iherwise, ;ell payments ;cctieed by Lender under the
<br />Note and pairr;graphs ?anti ? hereof shall lx :~tppited he l.rn<ler first in 1>aymtnt csf amounts payable art Lander by Horrtrwtr
<br />tender paragraph ? hereof, then to interest payctlrie can tltea Nr+t<:, +,ttpn act the, princrpai i,t the Nua:, and tlttn t> interest :end
<br />princrpal on an}' Fsttttre .Advanees-
<br />J. CharRts; Liens. florrowcr shal3 pa s• .r43 t.asc. .rsscsstttr nt, :rust r~thcr h tries, floc; artd ,mposiuons :ulrihut;ahlt ;r
<br />the Property which ma}° allele a pnorrt~' a,ticr this Deed itf trust„ and leasehold ,:,aymcnts car ground rents. if :any, in the
<br />manner provided under paragraphs ? hcrecrf ~~r. it ue,l lraui ist ztech m;tnna:r, by Br rrcx+c:r makutg p:aylnent, when clot. riircctly
<br />to the payer, thereof. Ilorrosscr shall promptly i'uruisla te, l eadc:r all notices crf amettutts, dot under z3ris l,ara};raph, and in the
<br />event Barrovorr shall make pctytnctu dirccti>,, Bcerrttwcr s!aali Itramptl~ iusntsh ter Lender receipts cvsdert,:~r~r; such payments.
<br />Harrower shalt prontip:i~.~ dtst=hartzc::rny lien ~.chtch >us~. pnirrit~ n:~e~r t21~, Decd tat lust: prav,dcd, that It<srr.7wcr ehtilt not tic
<br />t (1ggiiri:d Ire c1i,Ch:irg~t -ant, 'atrc'11 he=.t ti;,r lreng a, l3urrowcr ehaii agrr^e. rat ti+rittng t„ the {,xyttacn( n( the uhiigaturst seat,=~ed N,v
<br />Set r<FE flee Cn 5t ttlann4lr - ~'nt::1?le ail l.cracler, irf Shall 7!t _~ '-.1 t.lltq la)lltt'~A `,li4,t ~14'n 17Y.:`r Fief Ct1d e'nle?rCC meet tit xx;f~h l!4 ft tit.
<br />legal prcx'rrt'linttS w•htch opc3etc ¢ra prevent the ent~+ ~_~atcnt r 1 ,hc ;s<~n z~r fruicuaarc ~,E' the Nr,~pcrty art ;tray hart therce'~t.
<br />~. hazard Insiirauer, Borrowu ~h<tll kews^ •ne sntnrovtutenfls na?w etr,tuti c,r hrrcafter crirctce! cut the, lrrc~pcrt4' trtstartd
<br />.t~;atnst los_5 Eat= fire h::rrd, tncludc~i +ithtiu trsc to atendcc , covet re.c ~. am, s cat ~. tP c-r ilea t t> .as ! ender neat rcqu~rC
<br />:irtd to Stach atrtottnts .tltd tut s+..': ~ .. i:~~ls .,, .r to -~ rcgtlir6•. },rrtsidte4, ri't.t! 1 ~~.;-.~r eltali aa<~t rcgwre leer t`+tc ;;mount ;,;
<br />such Cuver,~,r c~Crrd that am;~~.tnt.' ., .~ ..;,',ltd to },„ta tttr; sutra crtrrarcd t~~ thrs I7crd of 7rnst
<br />thr tns¢sr:encr.. ;zrrirr prrnsdine ud tr: ~ ,; ,ltwtlfi ht ~"tu„~sz nS li<?rrcr,,ti ,„ ~• to apl.toi;cl h~. I cs,dcr. syr<~4t~#tci~
<br />that str4h approv.id ,ahal] not he erns ,. t:~• ~~s:tth,c„4d ~t3 prvntiurna ~~at ira^~ at st c ~ here, shut! "~c 1*asd in the t.aartnrr
<br />~~ovidCd undctr paragraph '_' laerroi ar, rt etc -+;ud in sttcl't ntaetne^r. ht l}orre,w~. ,tk,nl. (sacttae-tu. sshen e:uc:, directly to the
<br />iAlSnran~e L~t'ri~r„
<br />.^~11E S~ } i.`~t } ~eldi"t4S !ilci YCidl ~~ 1i~ ,~}tC rL'ti rt Sf-:All ~i'. In ft"~t t13 f1 t:Cj'1t.t t"11C ~ I:`( sni.l `, }T;Aif t14ltilk~l' ,1 `+.;411i~a ti.' 11cin6 ~,1~„C
<br />~latise is ,try °:~t.uid sn farm acctp,wttr;c• ter l.endcr l t~neic•r .n,e,l ltac4 t#~•~,; .; ~ .; t:ctiGt I'tc Ir,~it,~ts .ated tcnew,,t• therccrL
<br />„red Borr'crwer ~•ir;ell l;+rys*tptly urntnE * t.r:urlca Cal r tits+aY n~ it ra ar;tt ~ r its: -r~~ ~.7! g+.iirl prCntsttnr: la the c~V.tt1t r~4 liras,
<br />Barccawer+;nail gtva ;~r+atnl?t .totore ttir the ,aasut,tat,C ~,„~ra.c•t EuaG. 1 .,tds:r 1 ,aetct° .u,e+~ make peke*f r,~ itss ~; +urt st„ue prcuttotic~
<br />Erti I3orrowcr.
<br />t.?nltsn I.cndcr:und Bcrrrowcr ~ thcrwsze a :ec u' cwt ttss;, +rtaursaice Et,i«°tds n,aii !tie ,shphicl ;:, rcatrr.eti~m nt 'cp;a~r ,,i
<br />she 1'rcaperty dctmtsgc'd, prk,+ir9cd Sstih rcatcrrs.,s at .,r is;~,,., , <t,~atsiunc.rllr .r;+a.nlc ;ltd she aec~t tst) ~~( ihi„, 1)reG9 Must :.
<br />not theretrM~ irnpatred. if sucft reztrraattcen ~+s' tegaa.r ra cut rc~~i~ r tti,sidti rc t ~ t .tae ac•r~~rrity t ~1'tis i7rrd x+t 1 ~u,t „sr,udd
<br />t?u' itttpait`vif, the ,snurauce peoccccls ahali lx sl<plrrri t+~ t`ec sun.+ ct~.ttiul 1~. • u~, 1 ~.cd ~.~i t lust. u.ti; the: c,auaas. 1 ,art}~, 1?;2r.1
<br />to Borrctwcr. Tf the l'ropcrt}~ la abandatrlc,3 i,s~ E3cstrcaw~et, ~.t ut lie+rrr,s,sa ~ ~, ;<~ tcspt+nd to l.tndcr ssith:rt .t O d:asa Crcutt t4ae
<br />dale leafier is ttnaitc:d h}` l.crltder tc? Betrr:nser 'flat the ntsut'atta. ~arrtct ~~tle~,a ~~, ~,cvtic .t claret ir~r m„tr,c„~~. , ,v!?t~. l.cudcr
<br />i, authort~ed t~.y ecrtlett srtd erpply the iustar.ance pr.rcccda .;t l.cnder'. <~pu ,n ertitcr ie+ ~vatctratton ur rcpatr ~+f~ the 1'rr~pcrty
<br />c?r to the runts secured by thrs Deed crf T`s-at>t.
<br />Unless 1_rndcr ;ttid Borrower otttetwisc ~rl;ree un w-ratsng, .ruv truth tnr~ i_~ ,tun r,i ~ c~cueds to pnneira a ,na3i r~,: c>`tersd
<br />of postp+~ne the due data t>f the monthly in~„tallmeuts re9t7`rcri io ,n pz a, ral7hs I and _' hereof t,r ch:npe the aruuurtt r7!
<br />such installsn~elats. 11`, under paragraph i;ti hcrca>i the Prrrpcrty a ;rcctuircd ~~ ~tc96r, ate urazt„ :use and u•terest ci }3srrowrr
<br />in and to ~tny insurance pohCtcs and tst anal s{> tttc ptocec^cls thererrf rc,ults r~.t ~ ~~n datnu~.c tcs the Pnrperi4 psscu to the saelr
<br />or acgttisuion s}rlli puss to L¢ndrr to ttte Gatestt of the gums nccured #ro} t}r • i)~ed .al lYuat ,tttmedi:rtcly oncx tr, ouch ,a'ie c>r
<br />3C~yuisific]n.
<br />C. Preservatiion and Maintenance of E'rarpertyq Lea elrolds: t'ondanriniuntts, E'laancd Unit I)evefapmenis, i3c,rruwcr
<br />shall keep the 1'ruperty in gcatd rcpatr and shalt nr~t ~~r~mntst ~ tste nr ptrntrt uttp;uuttcnt .:u` deerriarau,m c,C the 1'rc±perts
<br />and shall connply with the provisions of any louse if this i_)itd r~l' ~i'rtrst iti on a itasehoid. if thin feed of `f'nssi is en a emit itt s
<br />ccrndontiniunt or .a }rhxnncd unit development, Borrower steal! 1?erfarm ail of Borrower's cthligations under the declaratic~rt
<br />car eovcnants erealing car governing the condominium or planned unit deveioptnent, the by-laws and repo?Emir+tts rri the
<br />condorniniunt ar ptatnned unit developtnertt, and constituent documents. if n contlominittm or planns:d un,t dtvcic=pmtrtt
<br />rider is executed by Harrower and recorded together with flits f)ced elf Trust. the covenants and agreements et f" such rider
<br />shall be incorporated inko and shall amet'td and supplement the ecrti~e natnta and ngreen,ertts of this Geed arY Trust as if the rider
<br />wire a part 17ereof.
<br />7. Prot:ee ion of Lemder's Seeority. if Borrower fans to perform the Covenants and agreements ce>ntained is this
<br />L)eed of 'I"rust, or if any action or proceeding is commenced which naateriaily affects Lender's inierese to the Prc,p~erty,
<br />including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or procc,cdsngs evolving a
<br />bankrupt or decedent, then Lender at Lender„s option, t:pon cotce to Harrower. ;;fay make such appearances, disc>urse such
<br />sums arc} take suehaction as is necessary to protect Lender's interest, inc[udin}~, tent not 4imited ta, disbetrStment c?f
<br />reasonable;. attortteys fees acrd enttyr upon flee I'rcaperty to ;Hake repairs. if lender required mortgage irsuran:e as a
<br />ccsn~ition of making the loan secured by this heed of Trust„ Borrower shall pay the ,premiums required eo maairttain such
<br />insurance in eRfcat tzntiE such. time as the requirement for su€;h insurance teratrinates in acc:ordante with Horrower's :red
<br />Lender"s wriCten agreeczlest err applicable law, Borrower shall posy the <u:touat of all mortgage insurance prervtirxrns in ti+.t
<br />manner provi:izd un.,der paragraph 2 hereof.
<br />An}r a peril e,sbursed by l.end~r pursaant to this paragraph 7, with interest iherCOn :hall t cz rite ,dditinnai
<br />ana~n+ ctraess r;` B ,r.„war secured by this Deed of Trust. Unless Baa~rcawer and l_crtder agree to athe.r terms c?f patmeni, s,teh
<br />mt „~.,, tai. ~C payable uponnaticc (rent Lender to a~orre7wer requesting payment tleereof, anci shall hear interest fr<xrr~: the
<br />drtc >' sa,h i acre: tt atf ilia rate payable from titt;:e to time on oatstanding }rrincipal tender the ltiote t;rtless p<tyanent of"" =.merest
<br />u -, , a c,r a be esrxxirary to applicable Saw, rn which event ouch antrntnes shall bear interest at tttc hsghest raft
<br />l~lrm -~i: sc ~ .~,~~= a,~~licxble law. Nothin~n cbrntainecl in this paragraph 7 Khali recsuire lender to incur any expense or take
<br />ally rc:io ~ r °vur,ce,~.
<br />~5. 'srsp r ~*rrrtr rt~~e nay ntakc or Caxs~;c to lxe made reasonable c,rstric upon rt~d anspcctions of the I'ropert}. irrttvvir3t;c4
<br />l l-.=t~ t si c $3~r ~ tiee print ic"F airy nu>+h tltspeca,r+n sptcsh.'utg reasc'ataablt Cause therefor teaated ~ . leteder's
<br />
|