|
<br />I
<br />
<br />83-00111"
<br />
<br />UN1FO.RM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Plo'meJlI of PtlJlripal And l-..eot. Borrower shall promptly pay when due ihe principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in lhe Note. and the principal of and interest
<br />on any Future Advances secured by this Deed of Trust,
<br />2. F1lIIlIs for Taxa ..... I_e. Subject to applicable law or to a . ..itten waiver by Lender, Borrower sball pay
<br />to Lender on the day annual installments of principal and interest are payable under lhe Note. until the Note is paid in full,
<br />a sum (herein "Fundll") equal toone,twelfth of the yearly taxes and a.o;sessments which may attain priority over this
<br />Deed of Trust, and ground rents on the Property. if any, plu, one-twelfth of yearly premium installments for hazard insurance,
<br />plus on.>-twelfth of yearly premium installments for mortllage insurance, if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates thereoL
<br />The Funds sball be held in an institutinn the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution), Lender shall apply the Funds to pay said taxes, assessment"
<br />insurance pIemiums and ground ren!." Lender may not charge for so holding and applying the Funds. analyzing said account
<br />or venfying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lendc-f to make such a charge.. Borrower and Lender may agree in writing at the time of execution of this
<br />Deed of Trust that interest on lhe Funds shall be paid to Borrower. and unles-'\: such agreement is made or applicable law
<br />requires. such interest to be paid, Lender s.hall not be reqwr:ed to pay Borrower any Interest or earnings on the Funds. Lender
<br />.hall give to Borrower, without charge, an annual accountlOg of the Fund. showing credit. and dehit. to the Funds and the
<br />purpose for which each debit to the Funds was made, The Funds are pledged as additional security for the sums secured
<br />by thIS Deed of Trust,
<br />If the amount of the Funds held by Lender, together with the future annual installments of Funds payable prior to
<br />(he due dales of taxes. -asseSSfT1.ents. insurance premiums and ground rents, shall e,'(ceed the amount required- to pay said -taxes..
<br />assessments, insurance premiums and ground rents i.lS they fall due, such excess shall be, at Borrower's option. either
<br />promptly repaid to Borrower or credited to Borrower on monthly installme...s of Funds, If the amount of the Funds
<br />held by Lender shan not be sufficient to pay taxes, assess.ments. insurance premiums and ground rents as they fall_ dl,le.
<br />Borrower shall pay to Lender any amount necessary In make up the deficiency w,'thin 30 days from the date notice is mailed
<br />by I.ende, to Borrower ""Iuesting payment thereof,
<br />Upon payment in full of all sums secured by th.. Deeu of Trust, Lender .hall promptty rciund to Borrower any Funds
<br />held hy Lender. If under paragraph 18 hereof the Property is sold or the Property IS othen",e acquired by Lender, lender
<br />mail apply. no lateT than jmmediately pnor to the- ~aJt: of the Property or its acqui'ilti()n by Lender. an)' Funds held by
<br />Lender at the time of application as a credit against (he sums secured oy thiS Deed of Tt usL
<br />3, Applkalion of hymen... Unless apphcable law proVIdes otherwIse, ali pavments receIVed by lender under the
<br />Note and p3t3l!raph~ I and 2 hereof shall be applied by l coder first 10 payment o-~ amounts. payable to Lender hy Borrower
<br />under paragraph 2 hereof. then to interest payable on the N{l-t~, then to (he prinCipal of the Note. and then to interest and
<br />pnnctpal on any Future Advances.
<br />4.. (~IM'" H.orrowcr shall pay all ta\e". a\SCumtnt, ;wd \"llhe-r ("hargc:s, fines ;md imJll1Sl1ions auributable to
<br />the Property whi<h may attain a priont)' over ,hIS Deed of Trust, and lcaseholU paymenls or ground rents. if any. in the
<br />manMf provided under paragraph 2 hereof or, if nOl paiu in such manner, by Borrower maklOg payment, when due, directly
<br />to the: payee- thereof Born~"Cr shalt pr(\fllptl)' r urn ish 10 Lender aU notices of .amounts due under this parasraph, and in the-
<br />event Borrower shaH make payment dira:tJy. Borrower shaH prompdv t tlrnlsh to Lender o..'CelptS evidencing such payments,
<br />8orfl"\~r shaH promptly ~hargt any lito \4nich has prrorllY over Ih,.. l1ced of Trust: prOVided, that 8tlHower shall not he
<br />reqUired 10 di~h3rge any '\uch hen so long as Borrower ...hail agree tIl \lo,-ritin~ to the pil)'lllCm of the obhgutlon secuf'C'd by
<br />\och lien m a manner acceptable 10 tender. or shall HI good (;uth ("onlcst 'itlch hen by, or defend enforcement o( such fien In.
<br />legal f.fU\.-'""CCdml1- whICh ope-ntl: fll prevent the ~ntorc-cmeol 01 the lien or forfeiture of the Property or any part thereof.
<br />~. ~ I~. Borrower s.h..U keep tbe- Improvements now e"us.tmz; or hereafter erected on the Property insured
<br />against loss by lire, hazat1ls included within the term "extended coverage", and such other hazards as t.ender may ""I\lire
<br />and to such amounts and for such perIOds ..s. Lender may reqUire: pro"'l~d< that Lender ...hall not require that the amount of
<br />,uch l:"ovcrage exceed thai amount of <.;overagc reqUired h' pay ,~ sums S1XUred by thIS ~ of TntSt.
<br />fhe insurance: "artier providing tht in,ufilnce ,hall be chMen ;,y Borrower subject to appro\IOII by I endC'r: prOVided,
<br />that such approvat shall not be unreasonably wllhbeld All premIums on If1sur~ncc polici.. shall be paid in the -
<br />pmvided under parqrapb l hereof or, Ii not paid in .uch manner, by BotTower making payment, when due. din:etly to the
<br />tDlUt'aDC:e carrier_
<br />AU msurance pohdes ~nd renew--a.k Ihcl'C\.."\-t thall be lfl form a~a:pt~bIc to Lender and shall Include a slandard mongalc
<br />dause in faVOl' of and in form acceptabie to lender. lender shall bave lhe ..gilt to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewat nl~..:t'. and all '-":etpls of pillU premium.. In the event of loss.
<br />Borrower shall glYe' prompt notICe 10 the H\suram.'C' carner anti Lender, I t"nder may m.akc proof of loss If not nlade promptly
<br />by Borrower,
<br />- Unless Lender -and Bot~r ,-"\Ihc:rWtK- agree U\ ~ritlnJ. tn\uran..-c- prtlCC'C'ds ,lull be aw'ted. tp rn..oralton or repair ~f
<br />lhe Propeny damaacd. provided ~l.K:h r'tS((.\Uht)fl or r-epau t\ e~(\ft()m":aU\' ICJ;stMc ,Old tru: 'IlCCllnlY of thfS Deed of Trust 1:\
<br />nol thereby Impaired, If 'iiXn rnuxahon or repair l'i not a:...mt.~K:.H)' !t'aMble Of U the ~uflty of Ih" Deed of Trust would
<br />t.e ImpaIred, the Il"",a",:e proceeds shall be applied t<, the .ums ""..rcd hy' tli.. (),;cd "r I rust, wllh tbe e'.."S, If any. patu
<br />In Bouo_r, If lhe Property It abandoned by'9orro",.".,.'f It 1I0H<_er lalis to resp.'nd tl' Lender w.tlun 30 day. from tho:
<br />date nulI-ce t\ maded by Lender to Borrower that the 'lMUnnce ~Ar'ftrr \.\t'c,,~ ll.l t.eUIc II ~hum tor tOlUfant.'"e benefiu. l.ender
<br />IS aUlhom:ed to ((~lect and apply the ...........,:e proceeds ot I.cndet's ort"'" e.ther to .....torahon or repair of the Property
<br />or to tbe sums """ured by thlt Deo:d of Trust.
<br />Unlaa Lender and &or...... otheno.... ...t"" lR ...nulI" any su.:h apphcahon 01 pra>-eo:cb to pllneipal ,hall not e,\lend
<br />or pustpotlC the due date 01 the monlhly 1O".lImen" releuN '" .n paragr."'" I and 2 hereol or change the amount of
<br />sucb .nstall_n", If under parapapt> III he<<<,t the Properly" '''"",Icd by Lcnder, all "lIht, utle and mleres.' of Borrower
<br />In and to ~n)" lO$utancc polU;iCS and In .and \l.l Ule pn"'C't'Cds theft,.,")t f~uhlng In,,", dam4CC W 1M Proptrty pnor to the sale
<br />or ~hon \haU pau to lender '0 the ~.\.tml ot the SUft\'i ~ured b)' this. (k.ed 01 husl lmmC(hat~ly pnor 10 ,uch sale or
<br />ac:quiaition,
<br />L r-........... ~_e e( .........,.: ~ C........I ~'_ ......... V.it o..y~ Bonowe.
<br />~I l.eep the Proper'.." In'llUd ft'paJF and ....hAif '",-It ....''"ml~l "".ute ..;.I ~tm" ~mpd'Hth:'n1 Pf ..ktcflt~f<.lh(ln ('~t the Ph"\peft)'
<br />and shall comply Illuth the PfOY~ 01 .an~ Ieasc If Ihu. t-.u t"f T n~l \"i. on a !C'4schoW- If th.~ (ked (If Trusl 1\ 00 a unU tn a
<br />\.""OIIdomlnll&m Of a pi.nned: unit de:wk>pmrnl. Boru,,*C'r ihl:U redoem J;U ot Borrower's t..'h!tgahQn\ under 1M d~l3:ratu"ln
<br />Uf ctwC'-naIlt-s .::rcatmt tl' IOvcrnm, ,be ,omtoImruum or ri~nned ;JOH d-e\-dQ~. the- by-Ia.YI'\ .Juo n:gulallons t'l thlt
<br />~um Of rI:aaned Ufttt ~I, .ind i,'1l)uthtuem dllCument\_ If;\ ({'Odonunium or plannc.J trnll dc\dopment
<br />r.f t'i c;uculed by Borrovret and I'C<<)tded l....ber with Ihd L>ud of t fU$l, rbe- \.'t.......cnaots .and agn:cn~nh t'lj ~\lch nder
<br />shaD be tftClI)'fporated Ink) and shall ame-nd...nd supplnnent the l:~Wlt'nanb and agrffffltffib nl Itm, [)ced \"'\1 TTU~I a\- If the nder
<br />were a part bcreof
<br />7~ .......... of ............. ~~ If BorrQ'\lllfcr ta.l\- to pcri"...rm the co~nanl' and agn:c:menl\ contained In th"
<br />Deed of Trust.. or It any acllOB l,"\f ~Ina ts. (t.'nune1ll.u ...h1Cb m.leflaU~- ;.IfI<<b l..('nd~r-;\ lnlcre\t tn the Pr(lpert~,
<br />.~ but not I.mated to. eminent dornatn.. u'Ii':$lOI\'f:ftIf;\. C\~ eoh:\t\.""t:'mrtlf. l~r :lnan,emenh Of pro..:-enhn~ Invphtng "
<br />......f'UPt or 4ecedcot. ,heft Uadcf at l..eadCI's optton.. upon notK..~ h-' 8I.)uowet. ma) ~l.e SlKh "rf'e'J.uarKn. ,!i,h.uw ,th,:h
<br />_. and tAk.e 'IUC~ actton '" ts ~ry to pt'Ot<<t Lender'S rotc-rol, IIlCludlng,_ hit ~wl hmltw hl, dl'\NU'C"Illc"IH t\!
<br />~ aitor'M} ~ feo and entry upon tbe Propn-ty to m;at..e 1'Cr"iur" H Lenuer re4Utf1:J moltJollIC' m,\tl:;IIK\.' .,'" a
<br />~ of ...... tte toaD ~\I.J'rIld by thn (')eed of TfU~. 8ono'Wc. ,haU pay lhe- rr~lmum'\ ~Utfe-d tn IHJlIolall1 ,w.n
<br />........ 1ft efteet ,","'11 suth ttmc as 1M fcq\U,remet\t t(,'lt such ~O\UfOUK(, le:~rnm..tC" 10 ~~~\-'rd.nt;c- With "i)fh'~~I'" .iUd
<br />lAadlr', wnne..-.~ 04' ""'teaOlte..... Bortowc-r shaH po (Rt- ...n,,\Unt 'l.lt -ilH IllOfttlafC .n'",r.ftt..'(- rrrnllUn\s. HI tttt.
<br />_ "",,,M1M Ufldet parapaph 2 hereof
<br />= ....... 4...... by l,endIe" JIIUf"UIlftt to th.. par.Juri' 1. "Ith lntt'te"\t lhe:tTtm ..hall hfi:t'Uk" i,dd,th,~"-di
<br />IT 1"'1 *' \), "'UiWC' tlK'uted hy th1l Deed 01 Truu llnlft\ 8ofrowcr.ad tetJllkr aC-tw W other lefm' \~I JW-H'~nL \~t\.h
<br />_ WlI .. ...,aNe ..""" _...... lrom l.ende. '" 80.._." t<que>hn, pay"",nl .he.e<l', .nd ,h.1I heAl ,ntero>' If,>I" .n.-
<br />... of ~ at tbr r... pay" tt_ 1m. to t_ '''' .,,It....nd..., pr.nclpAI ....r ,he N,"e un"". ray",..nl ,.t '"'e~"
<br />at~, rate- ..... _. ~-..m." .. ~ la_. lift ..hld~ C''lf.f:ftf \t~h amount" \hat! M.I ~"krnt ;at the hl'~ tAte'
<br />,.,...... .... ~... ta. No4:hm. t;:1.\ft-t...ncd Hl ttUl p..,ra.,.ph "; \h.kH fe~"h1t' t (,!k~f H' m~Uf -any ('~prn~ -pt I."t-
<br />..y -........
<br />L ~ t~ may.... (l{ ('.,V'it klltlc: tn...... tf-&:lliOIW.Nt"- ('ntl~ Hpl~ .M"'! .mpt"-<.; h'll(\.., ,"'t :h(o p~v.1t'''''' pt,y" hk-d
<br />!.. I,~ .... f,fi~ 110ft\...., ntlilti:"t pt''''lt t(l a,",~ .~h *,"'p"UOP \-PK'fhm, rt".bt_lt\.hk "oi\l""'t"" fh"'f("i\'H ft,'.LI1'l"<t.1 hI , ~-I~'I.kl ,
<br />,- .. .. ..........
<br />
|