|
<br />84 -001~4~
<br />llxtroant Covex,txrs. Borrower and lender covenant and agree as follows:
<br />.t. Paytaeal of Principal and hderest. Borrower shag promptly pay when due the principal of and interest nn the
<br />andebtedness evidenced by the Note, prepayment and late charges as provided in the Note.. and- the principal of and- interest
<br />on anyy Future Advances secured 6y thrs Decd of Trust.
<br />2. Faaas far Tags sad Itastsnoce. Subject to appBcable taw or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments o€ principal and interest are payable under the Note, until the Note-is paid-in full,
<br />a sum (herein "Funds"} equal to aria-twelfth of the yearly taxes and assessments which may attain priority over this
<br />peed of Trust, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments forhazard-insurance, -
<br />plus one-twelfth of yearly premium installments For mortgage insurance, if. any, all as~reasonably estimated initially and from-
<br />utitt to time by Lender an the basis of assessments and bills and rtasbnahte'estittiates iheteof.
<br />The Funds shall 1>e held in an institution the deposits or accounts of which axe insured°or guaranteed by' a Federal ar
<br />state agency (inctuding Lender if Lender is such an institution). Lender shalCapply,the-Funtls to-pay said-faxes. assessments
<br />insurance premiums and ground rents. Lender may nut charge for so hoiddng and.applying the Funds, analyzing said account -
<br />or verifying and compiling said assesments and bills, unless lender pays ~Barrawer`inferest an iha Funds and applicable law --
<br />peunits Ixnder to make such a charge. Harrower and lender may agree in writing at the- time of ezecuNon of this _
<br />Deed of Trust that intemst an the Funds shall be paid to Borrower, and-tmtess such sgreemeat is made or applicable Iayv
<br />requires such interest to be paid, Lender steal! not be inquired [is pay Batzawer-any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting-of theFtdnds-shawtng.credits.-atid~-debut fn the Funds and the - --
<br />purpose for which each debit to the Funds was made. The Funds art pledged- as additional security- fret-:the sums secured
<br />y thin Deed of Trust. -
<br />Sf the amount of the Funds held by Lender, together with the €atcsre monthly itistalltnEnts of Fundr`payable prior to
<br />the due dates of [axes. aatssmenu, insurance premiums end ground rents, shag exceed~the amaupt:tequircd to pay said taxes. -
<br />assessments, imurarsce premiums and grouttd rents as rbey fall due, such excess shatl..bt, at Bnrmwer's option, either
<br />promptly repaid to Borrower or credited to Barrawer on monthly insiajlments of Fonder ifiihe~ amount of the Funds - -
<br />held by Linder shalt not be sarfficitnt to pay taxes, assessments, insurance premiums and grudtid retsu as they fall date. - --
<br />Borrower shalt pay ro Lendtr any amount necessary ra make up the deficieoey within 311daysfrom-the,datanatice is mailed
<br />by Lender [a Borrower requesting pavmcmt thereof.
<br />Clpon payment in €u!! o€ all sums secured by this Detti of Trust, Lendtr shall prampHy refund ro Borrower any Funds
<br />held by Lender, I€ under paragraph IR hernaf the Prapedy is Bald ar the Property is otherwise acquired. by -Lt»der. Lender -
<br />xhall apply no later than immediately prier to iht sale of the Praperry ar its acgsaisition by-tinder, arty Funds,luld 4y - -
<br />Ltnder at the time of applieation as a credit against the sums secured by this Deed of Trust: - - - -
<br />3. ApplkaKoa o€ Payamnts. Unless apptieabk taw provides n[herwise; alt payments received by--[.ender; underthe-.
<br />Note and paragraphs t and 2 htrtmf shall 6t app}led by Lender Rut in payment of amounts payable to Lender by Borrower: -
<br />under paragraph 2ltcreo€, then to interest papablt on the Nutt, than to the principal of the Nafc, and then`#o intttexfand• -
<br />principai an any Future Advances.
<br />1. Charttesc I.less. Barrawer shall pay all raze., assessments and other charges, fines and impositions attributable to
<br />the Properly which may attain a priority aver this Dried of Trust, and leasehold payments or ground rents; if any, in :the,
<br />manner provided under paragraph 2 natant ar, i€ not paid in such manner, by Harrower making. payment, when due; diteetly
<br />to the PPavtc thereat. Borrower stall pronspdy furnish to Lender ati aatices of amounts due under this paragrapp, and'tn-the-
<br />^vent Borrower snail make payment duertiy, Borrawer shall promptly furnish to Lendtr rcceipU evidencing such payments.
<br />Barrawer shalt promptly discharge any lien which has proirity aver this Detd oF'I'rstst; pravided, that Borrower shall notbe
<br />required us discharge any such lien so J<?ng as Horrawrr shalt agree in writing m the payment of the obligation xeettred.by
<br />such hen m a manner acceptable to Lendtr, or shall in geed (with contest such hen by, ar defend en&srctrtsent of such:htn.in.
<br />legal pprceadinRs which aperaac to prevent tlc entorctmem of the Jien ar forfeiture of the Property ar any part thereof.
<br />5, Hfzard Iosuaaace. Borrawer shall kelp the imptas°ements now existing nr ktertatter erecttd_@n-the-Ptopcrty insured.; ,
<br />against toes by flrt. hazards dttcludtii within the term "extended cavernggt", and..xvch otficr hiizar~Ls as I.,ettder may reguue - - -
<br />and in such amaund arMt ten sueh ptriads as Ltndor may requite; pravitttd, shat Lender Thal] not rcqudrt ihai<the amount of
<br />such cavtrage extttd that amoum at coverage required to pay the aunts- secured 6y this Decd of 'float.
<br />The iaaurxrscx earritx providing the insurance shall bt chosen by Harrower sstbjtti tis approval by-l,endc r. provide,l. -
<br />that such approval shall net lst unreasanahly withheld. AS{ pttmiutnsxin. insuranee,palicies shall be paidtl-the manner
<br />pravided under paragrapb 2 hereof nr, if not paid sn such manner, by Borrower making paytiitnt; when due:direcflyto the
<br />imuratitx carrier. - - -
<br />Atl incvran» po{ic.sas attd renewals thereof shall bt in farm acctptab)t to Lendtr and sdlali itx~ludc a.standatd_.iiiangage - - -
<br />eJause in €avor of and in farm ac: eptabtt to IFeader. hander shalt lave the right to l#dld the.pol'mies and-rc-~}t~w$is t hercoL
<br />arn1 Barrawer shall promptly furnish to I.tndcr all r'Fntwai naticts sad all receipts of paid premiums. ln--tlle'evttit.of fans, '
<br />Harrower shad gyre pntmpt ruatxr to else iasurdnee earritr arsd lender. Lendtr may make praaf of lass t(vot rnade:protnptly
<br />by Barrawer. - .
<br />Unless Lendtr and Borrawer osherwisc agree in wrrrsng, ntsurance prncteda shah be applitd:ta restpratian or ttpairo€
<br />the Prapttty damaged. pnxvddtd sash ttstorauon ax rtnasr is tcasactnticatiy- leasiblt and the stevrity ref this Deed of Trust is
<br />net thartb}t impaired, If sueh ttstarauart ar repair is net ccovamieally feasible or s.f the security of this-Dtod o1'-['ttui.wauld
<br />M.impairttl. the ,trsaratx'e proceeds shalt tat applied to the auras atcvrtd tsy [tits d)ttd. o€ Trust. with iht excess, i€ any: paid
<br />to Botraw-sr. 1€ the Pmpeny rs abandoned by Barrowtr, or if Borrower fails to cusppated to Ltndtir within 30 days from: the-
<br />datt notice is mailed by Ltttder to Bamwtr that the insurance catxitr at€trs-io stulra claim far insurance 'titnetlts. Ladder
<br />is autharittd to collect aitd app}g the tnaurarece prnxat)s at t.tndtr'a opdan ei;thtr- is rtstotatinn or repaie a€ the Property
<br />ar to the sums sea;ut>.<xl by this Dead of 't'rust.
<br />Unless Lander-antl Borrawer aNharwist agree in writing, uuy sueh applicatitrn of praeecds to princjpal shall not.txtend
<br />p~tpotit the due date of the ntamlti}° itsstallrntnts roferttd to in paragraphs i and 2 hereof t'st change. the amount at
<br />sueh instaBtntnts, if tender paragraph iR htrtcYf the Property is at4uittd by L.etttEer, ail right, title attic interest af: Forrawer
<br />in and to any insurantat polities atul in aced to the ptacetds therc}?t resulting Cram damage w the Property prtar to thesale
<br />or acquiaitiws shal3 pass to Lendtr to the extetst of the sums seeurcd by This L'7eeti of Trust immediately prior to such salt or
<br />aeglria1[ian. -
<br />ti: Prataaerratba sad MaiNesaatt of Property; LcaschoMs; Caadomininms; Planned Uoh Dtveloptneab. Barrawer
<br />.slsati keep the Pn~Penr in gtxxi repair and sleet! ss:n cc?mmct waste or permit impairment car dcterioraiion of stet Property
<br />and shall e+.uxsply with the provaskuu of any least if thin Deed of Truer is on a icasthold, if [his Decd of Trust J9 an a unit in a
<br />tandomiitium ar a planned unit deveetapmtnt. Borrower shall perform alt of Harmwtr's ahdigatians under the dcciarasinn
<br />or covtnanrs creating ar gnvtrning the carstdaminiam or planned unit develipment, the by-laws and regulations a€ the
<br />condominium ar planned unit dtveliptntnt, and eansts[uent dacumtnts. (f a candamindum or planned unit develnpment
<br />rider b tsecuttd by Barrowtr and recardetl sogtther with ihts 13ecd of 'I°rust, the covenants and agretmems aE such rider
<br />shal3 be incorporated into acrd shall amend and suppltmunt the s-avraaaa[s and agreements of this t)etel oh Trust as iF the rider
<br />wero a part natant.
<br />?. PeWeetioa of Leptira's Setarity. ft Horraw-or faits to per€orm rht. cavtaanu and agreements contained in this
<br />Deed at Trost, ar if- any auian or pnxteding is cammtnctd which rxsateriall>' atTiscts Luadere interest in the Property.
<br />im-luding. trio ran limited ta, tmirtatt dartiaitt, inssalvetuy. code trsirctmcnt, ur arrangenstnus at praceedmgs:."rnvaJving a
<br />hattkrvlg or decedent, than Lendtr at Ltndts°s option, upon natiet to Bartowcr, may make such appe~aranctx. disburse such
<br />atolls and take atsclr action as is nettssary m prattct l.atuttr's snitrtst, iacludin& but net ltmtttd ta.- disbursement ai
<br />reatasrsa6k attortieyh ftxa. and entry upon the Prapurty so make repairs.. If Lendtr regtss`red nsaxtgagt insurance as a
<br />tYkm.liuan aL making thejaan-stckixed.b}'• Ibis L~ttl of `l`rtssi, Basrrowe€ snail pay tltt prtmiuma xtgteired to mai~ntatn such
<br />latstrranea .o eflaa unuk sueh ume as the-rtquittmtdsl €ttr atu:#i insurance ttrnainatts iu aceardance wills Battower's and
<br />L,tndtr's wnntn agtactmnt oc-appl'f~'-,tWe taw- Battalvtr gha31 Pay that atvatut of alt mortgage insurance prtmlums ns she
<br />rna,rner prowdcd urxkr psragtaldt 3 hertts€~~
<br />Aay~ amaunn dishu by Lendtr pursuant to this paragraph '?, u°rth eatertse thtrtun~ shall t,tcome additional
<br />itBdebse itna of Lkrrowea se.cur-a~by ihUt Dcc~i of `frust_ t.#rlltrts Borrower and L.tncltx egret xY ether±ern~ of payment, sueh
<br />amoamts .halt hr payable rgtoal ntMitt t[tem Lender to Birrrawtr caste nyttttg pa,ytntru tlxttaf< and sh~Jt hear imet6st trnns [Ise
<br />date +>t di564,rytmcnt at the. rate payabtcftn,Ftr ttme t» drat an atustanding principal medtr the Hatt unless I>aymtnt of inicteat
<br />at n,tit rase .vautd !~ <alttr[esy to applivatr[e Jaw, r» uhiclt t~kmi such amvums shalt hear ,nrartst at the highest rata
<br />ptrrxtinthtc under applicable Jaw. Warning enntaiattd in sn" 1>:i; agxaph 7 street require Lander to incur any czptnst ar take
<br />~TiY ect,rm ltereunaier. ,
<br />t<. ta~ect{w, 2 sack; malt make ssr fau:~ i,. hr n adc as.,aahJe entries u~>?s and a3kxrr nL ~ ht Pacrdcm^; prtxv pee{t
<br />chat Lesxfet 4h,at! grvr Snrrna~et ntYtit~ p ~ 7;w au t -nr u~.n +~ty in}{ itawnat?tt cause ihtre2 sr re~aied t,r J tnitce's
<br />inacreat m the Fmutnv.
<br />
<br />
|