|
<br />_ 8~ -'0016~~2
<br />U4IrI xR pt ['nvt h.atvts Hnrrnwet enJ I ender cc,venant unJ agree ac ft,llow s:
<br />1. Payment of Principal and Interest. Horrauer .hall pn+nrpt h' par ~.x heW Juc ihr ;•nn<ipal +,f end uncrr~t ~., the
<br />utdchtedness rv?denttYht}y the Nutt. prtrpavment :utd lert• charGes :+< prrnadeJ :n the tints. and the grin: real u•- .mil intcrea
<br />on ens Future ,4dcanres are ern! by thrc IrerJ ~~I 1 n:st r
<br />~. Rands for Tines anA Insorance. Subject to applicable law or ut a ,+-rutc» waiver by !.ender, &,rrower shall pay
<br />to Lemke nn the d.++ momhly uxtallment, of pn ncrp:d ,mil +men:st arc pavablc under the Note, until the '<ow is paid m frill.
<br />a sum therein "Fundx''t equal to one-twcltth of the ycarty tares and .;,sesvnents uh:ch miry' attain pnority over this
<br />Iked of Trust, and ground rents on the [sir+pert y..f any. "plus one-Iwelfrh of cearly premnim installments for hazard insurance.
<br />plus orx-twelfth it( yearly premrum nstallmcnn for martgage imurmec. +f any, all as rcasnoably estimated imt+ally and from
<br />time to time 6y t easier on the basis of assessments and hills and [easnnablr esumates !parrot.
<br />The Punch shall etc held m an :nsnnttir+n the depaxrts or accounts of whu•h arc insured or guarantecJ by a Federal or
<br />state agency 6nchiding Lender tt Lender is such an tnstuuhon? I ender shall apply the Funds to pay said taxis. assessments.
<br />insurance premrum; enJ grnur?d rents. 1 ender may not charge hu so holding and applying the. Funds, anal}•nng smd aceoum
<br />or venfying and c. mpibng said assessments enJ hills. unless 1 ender pays Harrower mtrrest on the Panels and seep vole law
<br />prrmus !mater ro make such a charge Harrower ,,nil I ender may aGroc m wt'uing ^t the time of execution of this
<br />fleet u( Trust that +mercxt on the F::nds ,h:d! he pa+d to Borrower. and unless such agreement rs made nr applicable law
<br />regmres each mtc?est t+, tie patJ. I ender shall oat tx ragmred t.+ p.ry H.xrraucr .uty ntterest or earnings on the Funds. Lender
<br />,hall give to Hnrmwer, wnhnut ,harge..+n annual accnuntmc of the Punt, ,bowing credos and tables to the Funds and the
<br />pareses for whmh each debt to the Funds was made. the Funds are. pledged ac additional security for [he sums secured
<br />hx rhea Deed of trust.
<br />1( the amount +,f 'itr Pund~ head he Lend. r. t,~grt her unh the Iuwre rramthk utst ailments of Funds payable poor to
<br />she Jut da[rs of taxes. ass-, earn!,, msurancc prrnnums mra groan.! rents, ,hall exraYJ the amaun[ rcquintd to pay seed taxes.
<br />.nsesamcnts. +nsur ancr prrm~un-•, .+nJ ?;r,•u nil rot, •hrc LJI Juc ,uch races. shall he, at Horn?war's option. either
<br />prumptN apart t„ Harmwcr ..r .rtdited ?.+ Hnra+wer .+n momh;v uxsmllmentc ,tf Funds If the ;imuunt of the Funds
<br />held M "I coder shall sot hr catlictern rn I,:r. teas, .xsarcvnems rnurance premunns and ground rents as they fall due.
<br />Borrower ,hall pat ro !ender .,m amoum nreccsan t.+ make up the drfic:cncv within }6 davs from the date notice is mated
<br />by Lenrkr to Borrower requesting payment thereof
<br />Upan pa}meat m !ail ,,t all sums ,e.-ureJ ht ?tus DeeJ nl Tni,t. I ender shall promptly refund to Borrower any Funds
<br />paid by lender If under paragraph I K hereof ?hr Pn>pem a ,old ear ffic Propern= +s otherwise acquired My Lender. Lender
<br />shall apple. rte later !hart unmrdiatete poor ;•~- !ht ,air of the prapeny or ns acyursrtmn by Lender. any Funds held by
<br />I-ender at the pine o!' application a, a arrredn against tar sums cecurad by the [kid tit frost.
<br />J. Application of Payments. t'nfecs seeps epic I,r+. prov?de, .nhe•rursc, all payments rereiveJ by Lender under the
<br />No[e and paragraphs 1 and 'hereof shall hr apphrd hs 1 ritdcr tint ~n t?acmtm tit anutnms payable m f.cnder by Harrower
<br />under paragraph '_ hcrmf, then w mttresz pavahlc on !hc Natc_ then ro the pnnap:tl of the Nnte. and then m interest and
<br />pnnrrpa! on any Funrre advances
<br />i. Charles: Liens. Harr;,wcr ,hall pas ,iii :a,rs .e sessn?ciu, -~rru ~ahrr ,barges. !toes and rmposnions atiribvmble to
<br />the Property whtrh map attain a pnoruy over rho Derd of Tnxsr .uni kasehntd paymems or ground rents, if soy, in the
<br />manner provided under paragraph 2 hereof ur. ?( ant p.ud u? sash manner by &xnnver making payment, when due, diroctiy
<br />to the payee thereof Bormwrr sha0 pronptly !crash ro I ender .dl ounce, ,rt amounts due under this paragraph, and in the
<br />event 8orrawer shall make pay men? Jueceis. &+r mover •:hart prm?ptiv t:nmsh r""+ f ender rere+pa ev?dcnring such payments.
<br />Horrower shalt pmmptlp dixparse am lien ,.hnh sas pnorus •~.ct lh~, tlceu ,u i rust, pn,vidtd. that Horrower shall nol 6r
<br />reyutred to discharge dnx- ,u.h hen •.+ L,ng „ H.,r:,+s c•r ~hUlt agree •~ ++utmc h> the pavmanl of the abhgauon secured by
<br />.uch hen m a rnanner aaceptahle m t ender. ,•r .hail ... good leap ,rotes! soap ore M, ,.r defraJ cntarcement of such lien in.
<br />;!gal ppens sailing, uhrch .'+~ratr tr ,, rescr,: ~r+e antorcemtnt .~? the ne•n ,~r I,,rtcuure u[ the Properly ar any part thereof.
<br />S. Hasud lesursace. Horrower ,has krrp the ~mpn+.erntn?s nun rv,i v;g cr hrrcafter rrcCled nn the Property insured
<br />;against los€ tic fire, hazards ?a..ludrd wrthxn ?hr ;con "'czrendeJ ,,overage". enJ *unh other hazarJS as Lender may require
<br />enJ ?n such amounts and for such ttrrr.ulx a> t a•nck•r mss rrys»xe. pn:.~rJeJ. that Lrndcr ctratl oat rcquxre that the amount of
<br />such ctn•erage rarest ?hat anxoum +tr raze?age iryuircd r„ pa'. the sums sre?:rcd h} Ili?s bred of Trust.
<br />-fhc rnsurane¢ .arnrr peen +?rg the m.urence ,'raft ter ;h,,.rre ha Ar,nowrr suhtect to apptvv;t! h}' bander: provideJ.
<br />that such approv.tl shall not tk^ uureaaaxahty unhhrid aI! prennurr+s nn msurxnre pahcies shall be paid in the manoar
<br />provided under paragraph t hereof or. it not part .n such manner. by Harrawrr :Waking payment, when due, directly to the
<br />iasunoee Carrier,
<br />.all insurance pehcies and [tnruais t :c rc,t! afi;xl; hr ,n for m a.xrptaixte ?n fender "enJ shalt tttrtudt a standard mortgage
<br />clause in favor of sod in lutm aca-rptabEe to 1 crtJet- I ender shat? ha,r the ugtrt to hotel the policies and renewsle theneaL
<br />sad Borrower shall pre=mpny furrash ta> Lrn.lrr .,il ;care ai Data rs enJ sit rccr,pts of pa?J premiums In the event of lots,
<br />Borrower shall gene prompt ranter to the ~nw?ancC .err+er .:oat t c•ndrr- t ender may make prauf of lass rf not made promptly
<br />by Hortowta.
<br />Unless l.e:ndtr and Hoirowcr othtrurse agree tit wrn+ng, -?xsurance p;a?s.etds shall be applied to restoration or repair of
<br />rha Properry• damaged, nrvsafeJ such zrstorauon ,'e rrl+au es aaaaamxcally ieas?61c :mil the wrarity of [his Deed of That is
<br />no[ thereby mtpa,red. If sorb restoratwn au re}ta,r :, nw rccuturmea Hy (rasrbte w tt the security a( this [~etd of Trust world'
<br />be ?mpaired, the msuranar praeieeds shat! ix apptttJ to the aunts sea aced by this Derd of Trust, with 1M'. excess, if Any, paid
<br />to Borrower. If the Profxrty a abendmteJ by Harrower, or tt H.xrauer fad. to respond to I~.nder within 30 days from the
<br />dart nottCe is ntaifeJ by Lender to Barnywer that the ,rsurancr career otTers to settle a seem for insurarne benefits, Lender
<br />is authonaed to cotter! and apply the msuran.e praceeJs at t radar's opaor. sober Eo restoration or repair of the Properly
<br />or to the sums secured by this Deed of Trust
<br />Unless Ixnder and Bortowtr otherwise agree .n wrrttng, an} such applrcatton tit pr<ureds to principal shall not extend
<br />or postpant the due daft at the nxtnth5y tnsfailmrnts retrrrrd to to paragraphs 1 enJ 2 hereof ar change [fit amount of
<br />such insWllnxnts. If undtr paragraph 3!i hertut the i'rnperf} es acqu?r'td by Lender, all tight, title and intereal of Horrower
<br />iu artcl to any insurance pahcxes and m enJ w the proceeds thrreot resulting tram datnagt to the Proprr[y prior to the sa#e
<br />or srquisition shall pass to Lender to the extrm :tt tits aunts secured by ih+s QeeJ of Trust mrtuedtate#y prior to surM sale ar
<br />acquisition.
<br />~. heaervrtttioa acted Maiateaaoce of Property; Leasehufdw CoadnmGtiutmc; Planned UtW pevelopttteMa. Htarro}ver
<br />chat) keep the Praptny rn gatad crest[ soil shall oat vn[anut uastr ur penmt imp.unnrat or detrriaraunn tat the Property
<br />and shall comply with the pravtsions at any ]cast tf this [)ltd of Trust es nn a kasrhold. If this 1?etd pf Trust is an a unit to a
<br />cttndaminium ar a ptantxd unit devtiopntent. Borrower shall pet#orm all 4tf HOFCaW'tlr'S ob}igations under the da#antian
<br />or covtaanu creating ar guverrung the condomiaiunx or planned unit development, the by-laws and regulations of !he-
<br />coodominCum or piamed ttnn decctaptntnt, and coastxtueut documents If a candaminium or planard amt tkveloptnent
<br />rider a executed by Horrower enJ rtcarded together uith this [k:ed of -toast, the covenants and agreements of such rider
<br />shall etc incorporated info and shall amend and supplement the rnvrnants enJ agreentrnts of rhea Decd of Trust as if the rider
<br />were a part hereof.
<br />7, Traltctioo of !.seder's Secttriry. If Barrourr fads w perform the 'ovenants and agrecrnents contained in this
<br />[geed a[ Trust, or if say anion ar practr:ding ?s cammenreJ uhech materaaHy atTerts LenJer's mtrrest in the Property,
<br />lac#tadiag. but oat Hmited ta, trttintnt domain, irtsoivency, rode enfarcemettt, ar srrangemems or prxxtesFings ittvolvtng a
<br />haakrupt or deccdeat, then LerKler st Ltmier's aptian, upon astir! to Harrower, may make such appearattrese disburse such
<br />stases aqd take such artiaa as ks necessary to pruteCt Ixrtder's interest, im'luding, but oat !tainted tu, dxsburstment of
<br />rtwxxtabk attarttay's Fats and entry upon the Property to make repairs. If Lender reyuiteJ mortgage insaranrt as a
<br />rt>adition of tasking the loan securetf bp this [geed of Treat, Horrower shatT pay the promsums required to tnaintain sorb
<br />inuutlare is tfftet ittuil stab time as tlto cequirerrtent for such trtsutanct termmatas m aerardanct with Horrowtr's and
<br />Lattder`a rvr#fitrr agrtttraeot or applicable law. Harrower shall pap the amoum of alt ^tortgagc msetranec premiums in the
<br />rNnear provide! under pare pfi 2 hereo7,
<br />~Aa f ansuUttts if-sbraby Latrdrr pursuant to this paragraph 7, with tnterrst thcrron, shall herornt atiJitiona!
<br />nesa at Horrower sttcurtd by this fiord of Trust. Ifnfess Horrower and i.tnder agree to other ttrnu of paymem, such
<br />amounts slut#t fie Tsayabk uprrn rutttc~e front Ixnder to Harrower requesting paytntnt thertaf, and shall tzar infet•esi from the
<br />dits of diahontmeni at the rate payable imm Ume iu time an .tutstanding prituipa# under text Nate unites payment of #ntrrc€t
<br />at torch rats wouhl be contrary to ttppticabte taw, in which event such amounts shat! hear mtrrest at the highest rate
<br />permiaai}Wa urxkr appditahle taw. Nothing cctntaineJ :n this paragraph % shat# rcquxre I coder as incur ;toy expanse cr take
<br />my act>pn hataunger.
<br />g. ftatyteegets. !.ender may trtakt or s;xu.>t to tit need! rzastxxaklt etrtrtes s?rnwx and ana,+tty-tams of the Pnrpsrty. Ismrided
<br />that ixitdor xhaT! R#vt Horrower nntxrt prior fe any such rnspecuon spccifYrng rcasouahte 4sxtse thertfar related to !.ender x
<br />tattrtst bn the Proaanv-
<br />
|