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<br />84 .._. 001566
<br />Utvtroant CovenatvTS. Borrower and Lender covenam and agree as follows:
<br />.l. hyeterrt of hleeipd aei lefesest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prcpaytnent and late charges as provided in the Note, std the principal of and interest
<br />on anyy Future Advances secured by this Deed of Trust.
<br />2. Paeis ter Ttszes aed lasenece. Subject to applicable law or to a written waiver by Lender', Borrower sltaB py
<br />to Lender nn the day monthly installments of principal and interest are payable under the Note, until the Note is paid'in full,
<br />a sum (herein "Funds"I equal to one-twelfth o[ the ycady taxes and assessments which may atuin priority over this
<br />Deed of Tnist, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hanrd insunttee,
<br />pliro one-twelkh of yeary premium installments for mortgage insurance, if any, all as reasonabty estimated initially acrd from
<br />time to tune 6y Lender on the hams of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an itutitution the deposits or accamts of which are insured or gwranteed by a Federal o<
<br />state agency (including Lender if la°nder is such an institution). Ixnder shall apply the Funds to pa said taxes, assr~alnents,
<br />insurance premiums and ground rents. [.ender ma~• not charge for sa holding and applying the Funds, analyzing said'aetount
<br />x verifying and compiling said assessmtnts and bells, unless Lender pays Borrower interest on the Funds and applicable 4w
<br />permits Lender to make such a charge. Rorrcwer and Lender may agree in writing at the time of execution of this
<br />Dttd at Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is mark or applicable law
<br />requires such interest to tx paid, bender shall not be required to pay Harrower any interest or eamin~sron~the Ftmds. Lender
<br />shall give to Borrower. without charge, an annual accaunting of the Funds showing credits and debits to the Funds and•the
<br />purpox for which each debit to the Funds was made. The Funds are pledged as additional sceority for the sums tttetued
<br />by this Deed of Trust.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes. assessments. rnsurance premiums and ground rents, shall excced the amount required to pay said Axes,
<br />asxssmen[s, insurance premiums and }around rents as they fall due, such excess shall be, at Borrower's p ,Ether
<br />promptly rtpaid to Borrower ar credited to Harrower on momhly installments of Fund. [f the amatnt of t1rE Fundc
<br />held by Lender shall not M sutrcrem to pay taxes. assessments, insurance premiums and ground rents as they fall -due,
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />6y L.ender to Borrower regrretting payment thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to &~rrower any Fords
<br />held by Lender If under paragraph 1 g hereof [hr Progeny rs snld or the Property rs otherwise acquired by Lender, Lemler
<br />shall apply, no later than immediately poor to the sale of the Property ar ire acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. A/*Bcatlow of Payrents. I'nless applicable law provides ntherwrse, alt payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall he appplied by I ender first rn paymem of amounts payable to Lerukt by Borrower
<br />under paragraph 2 hereof, then to interest payable an the hate, then to the principal of the Note. and then to interest and
<br />pnncrpal an any Fulurc Advances
<br />~. CAarRea; Lkss. Borrawrr .hall pay all taxe<. assexsmentc and other charges. fines and impositions attributable to
<br />the Property which may attain a pnonty over flits Deed of Trust, and leasehold payments or ground rents, if any, in the
<br />manner provided under paragraph 2 hercu( or, it not pail in such manner, by Borrower making payment, when due, directly
<br />to the payee thereof. forrower <hafl promptly furush «, I ender all notrcea of amounts due under this paragraph, and in the
<br />event Borrower shall make payment dvutty. Borrower shall promptly furnish to Lender receipts evidencing such paymems.
<br />Borrower shall prompde drschargr any hen which has pnonty over th» eked of Trust: provrtk4 that Borrower shall not be
<br />reyuucd to Jrxchargc any such hen sr, long as &xrnwer shall agree m wrung «t the payment of the obligation secured by
<br />arch hen m a manner acceptable in I coder, or shall m goal hudr contest such hen by, or defend enforcctnent of such lien in.
<br />regal pnxcedmgs which operate w prevem rice entareement of the iron or forieinrre of the Property or any pan thereof.
<br />5. Haaud tewraeat. Borrower chaff keep the rmprnvements now cxrsting or hereafter erected on the Property insured
<br />against foss by fire, hazards included wnhin flit term "extendeJ cove rags '. unJ such other hazards as Lender may require
<br />and ro such amounts and fur such penudx as LenJrr may rtymrt; pnwrdrJ, that Lender shall not regwre that the amount of
<br />such coverage exceed Thal amount of cnceragr reyuued «+ pay the sums secured by flits lked of Trust.
<br />lire insurance carrier pmv,dmg the msurancr .hall f+e chosen by Borrower subject let approval by lender; provided,
<br />that such approval shalt not t,c unreasonahly wrthhcld A!f premmms on insurance policies shall he paid in the manmer
<br />provided coder paragraph '_ hereof or, d sot part m such rnsnnet, by Borrower nrakmg payment, when dire, directly to the
<br />,nauraner carrier.
<br />All msurancr pahcrra snJ renewak thereof shah he rn loan a.,aeptablc to Lender and shall mefude a standard mortgage
<br />cause m favor of and in form acctptahlt n, { ender 1 ender shall have the nght to hoW the policies and renewals therrnf.
<br />and Borrower .hats promptly turtnsh to l ender a6 renew al nuucrx and all rexmpts of patJ premmms. In the event of loss,
<br />Borrower shah grvr prompt nonce to the msurancr a an=er anJ t coder Len.kr may make praif of Icrss if not made promptly
<br />bV Ba(row`tf.
<br />l.!nless t sorter and Hm n>wcr athrtwrsr agree rn wrung, rnxeance pnx~ceds shall arc applied to msioration or repau of
<br />the Property damagrJ. pruvrded cosh rrsroranoo nr repau „ r...noin+calle traaihfe and the security of lhrs DeeJ ai Trust is
<br />nut therehy rmpaueJ k arch txswrauun or repau n not eaaauu+:ally teasrblc or .f the xcurity a( This Deed of Trust would
<br />hr rmparrtJ. the rnaw scree pro.:erds shall be eppheJ to ihr urine aeeurrJ by ihts Ored of 1 rust, with the excess, rf any, pail
<br />+ t Barrawer If the Property r. abarrdonrJ by Barrowc-r, ur :t Borrower fads to respond to Lender within 30 day's from the
<br />date no«cc a marfrJ by 1 coder to Borrower that rhr crew sacs tarter utters to settle a daun her insurance txnefits, Lender
<br />rs aurhonted to caHect and apply the mawance In„cccJa at 1 enders option err her a. resturaunn ar repair of the Propem
<br />or to the sumo xtt:ured h} Uus DecJ a( tru+t
<br />Unless tender and Norrower otherwne agree m wrung, soy au.h appiicauon of pnavrtds to pnnapai shall not extend
<br />sr pontpane the due Jatt a1 the monhly ,rotailme«h reler re.l «, m paragraphs I anJ 2 hereof or change the amoum of
<br />such urstaflnrems If under paragraph ! h hector rhr f'roprnf is acywreJ h} Lender, all nght, title and imerexr of Borrower
<br />ur and to an} msuranee ftihcrrs and in and to the pox reJa thcrroi rcauN mg lrom damage ro the Property poor m the sale
<br />nr acyursuwn shall pass to Lendrr w rhr catcnt tit the sums secured by rhs I~eJ of Tnrst rmmedmtrh prior to such sale ur
<br />acyurxitinn.
<br />6. Ptrestrvarioa and Maieaaaoce of Pn.perty: LeasthoWs; Condomimiams; Planned L'nfl UevelopmenLS. Nor rower
<br />.hail keep the Propa;rp .n g~r+.f spar anJ +haJ n a wmnut waste ,., fx~nun unpaunx•nt w drtrnora«nn tit the Progeny
<br />anJ shall coin par w-rah the pros+von of any lease J flits feed of f rue; n ,.rr „ (casrhald It thu GttJ of I rust a on a urn m a
<br /><ondommrum or a planned unu development 6nn,+wxr shall prrlomr all of Borrowers ohhgaunns unJer rhr Jeclarmon
<br />or covenants stealing or governing the :ondomuuwu or ptanncJ nna Jcir4,pmtnt the by-laws ^nJ regula«ona •,! the
<br />. mdaiminium ur piaanrJ unit Jevciopmrm- nad .uns«turnr Ja>Lomrut, f! a a+nJammium ur ptannrJ cart Jcvch.pmrn+
<br />rrdrr it cxrcuted by Harrower an.l rwordrJ n*gt!her with thn Deril ,•! [nest. ,he tuvenants and agrcenu°nrs nl such nJer
<br />shall rue mearporatasl ruto and shall arxnJ and aupplema-rat flit ., u,anh any agrremrnts .+t thu UceJ ,~; I rust a..I the r iJer
<br />were a part hertut
<br />T. Pwrectioe of Leedtis 52r orti}. I! Barr,,wer le.3s n, ,cr torm , r.enan is , nd age ccmcut, ..m rauu•J ; r rho
<br />Decd o[ Tnrst- or ,f an} action ar prucreisng rs .K,rrs+ne+keJ whuh rr armamii) „dfrcts Lender's interest rn the Pmrtx:ns,
<br />maudnig, but not irmited tu. unraeru Jamaur, mu,h erx., taste enturcrmrnt, nr arrangemenb or pr an.crdmgs tin olvrng ,.
<br />l±ankrupt ar ettcrafem. then lender at 1 eadrr s ,~pa,a,. u(xyn ooacr i„ Honour,',, m.q :nakr with apps mnart .h,h,inr .,;. t;
<br />wm6 and hxkr such a.uun as n rrcressar} € , pnae:r t cndnr , =nrr: r,r n~LrJ.ng. lieu n,+i i m.rteJ b,. diahur,aucm .,t
<br />reasonatrk attarrwy's lees sad emrv uleun the Profs rat t., n,ahr repair, It Iruder reyutr avJ nwagage :ns`u ,•, c + ,
<br />tnrdnrwr of making the k*au sc~-usaJ h} flits 1>zxai of tru,r, Bartow cr ,halt pat the pren,nuus reywreJ a, n,.unta~r, .,.,h
<br />=nwtanxe in affect mttrl such time ac the r~utremun lo: wrA crew anae rrnnmaus a ~orJan.c wrh Bon raw er , ~r
<br />Lende['t wnnen agrettritni or appiicahfe law Horrt,wrr >hafl pat rhr amaruu ,=I n~i nxrctgagr imwancc premuun, m rhr
<br />nrannar pruvrded under paragraph fsereof
<br />>34ny a1iN)ittity Julwrstd by i.etler putsuaa,t t,, flits paragraph ?. with mrcrrst rhrrcon. .hwi; hc.,•rnr .n1Jnr„na!
<br />:uJcMcdrttas of Bnruuret sex urcd Irv rhea [}eed of tout I ntrxas Harrow-ar ,end I r,rJrr agref ;., ether irrm, „r p.,}:neru „rah
<br />anxaums shaft he payatalc upon notice fmru 1.enJer «, H«rrt+wrr rryursrn,g Isat,nr n, rhea+!t :+nd .hat! f,car raters... faun, the
<br />date of disburwmeat at flit rata payaMt tram flint y„ f,mr ,v! outstauJu,g pars ~pai unJer rhr \ure ,acres pavmrnt ur n,trrrsr
<br />xt ~yh ^afe waa&f ht .-autr'ary «± apphublr law. s~, t: rven+ t.,Jr inu,wii. as.a;r hear ,nserr,r .ar flit tughc,t rare
<br />psrmixstble undgt n~lirahic taw Nothurg c.,reta;rtr+! u+ r.rs pa+agraph ' .,+3 ~. rruuur I ender L, ;n. ur : ,, esprrrsr ,•r take
<br />any atiuoa leruundrv.
<br />a, laysttioe, 1 fader coat make .,r - sr r . !+:- taJ` rraa. n rr, p,-- Ix r- r ih. ( fn rlt (y a+vayc'rt
<br />i plaC t #igttr s1aaB g r Hnrl,x~-tr na - aC }' f - iAtah 'IS(+r•. ~. ~?aa:i} t ~ .ta-. Yl.,l ,....., ,hi.t It .,,Cat t.3 i 2llJf t~>
<br />.rltEtNt rn tlxt lsreoatV-
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