|
84 -- 001656
<br />Unnregm ('ovrrvxH tx. Horniwrr and 1 ender covenant rind age ce as follows
<br />i. Pa~mrnt of Principal and Interest. Borrower shall promptly pay when due the principal of and interest an the
<br />mdcMcdneu evtdcnced by the Note, prepayment and Iatr charges as provided m the Note, and the prnnpai of and interest
<br />. n any Furore Advancca srcnrcd by fhrs 1)cCJ nl ll osf
<br />2. Funds ttx 7"aces and Inttaranee- Subject to applicable law or to a w•riucn waiver by lender, Borrower shall pay
<br />r,+ I ender on the day monthly installments of pnna pal and interest arc payable under the Note. until the Note is paid in full.
<br />.a sum therein "Fund{ ') equal ks one-twelfth of the yea riy taxes anJ asscssntenis which may attain priority over this
<br />ih-cd of Trost, oriel crooner rents on the Property, r(any, plus one-[wdith nt yearly premium instulimenis far bozo rd insurance.
<br />tdns nor-twelHh of yearly premium installments for mongagc insurance. d any, all a. rcasnnabiy cstimatcd imdatly rind from
<br />ume to umC hY t.ender on the basis of assessments and bills and reasonable estimates thereof.
<br />the Panda shag tee held in an mstituGon the deposits or accounts of which arc insured ar guaranteed by x Federal or
<br />state agency (+ncludmg I-ender rf Lender is such an insirhmon). Lender shalt apply the Ftmds to pay said taxes, assessments.
<br />insurance prentisrms mtd ground rent.. Leader may not charge tar sn holding and applying the Frtnds, analysing saiil account
<br />or verifying ;rid compittng card assessments oriel bins, un;ess fender pays Borrower interest stn the Funds and apphcuhlc law
<br />xrnurc I ender to make such a charge Harrower and Lender may agree in venting :u the time of ezeemion of this
<br />heed nt i rust that tnterrsi an the Fonds shall 6C paid to Borrower, and unless such agreement is made or applicable law
<br />iequtres such mterest to he paid, Lender shall riot ;m reymred to pay Harrower ;toy mterest or earnings on the Funds. Lcndcr
<br />,halt grv<- to Borrower, wnhont charge, an annual accnnnung of the Fund+ showing crcdus and Jehits to the Funds and the
<br />purpose far wh}ch each debit to the Funds was made. "the Fur;ela arc pledged as additional security for the sums secured
<br />hr ihs ihrd of Trust
<br />ff the amount r,f the Funds txeld by i rider, together wuh the future monthly nrstailments of Funds payable prior u,
<br />rku• due dates of taxes. aaesrnrnta, insurance pnmm:ms and grmmd rents, chaff escecJ the xmrnm[ rcgmred ut pay said taws,
<br />..+scsantrnts, ururan,'c premiums and ground rrntc as rbrv tall due. such rsmss shall hc, at Borrower's option, etcher
<br />pn±mptly repaeJ to Hrsrmsvcr ;~r ~ reditrd to [InrrnwCr an mnmhfy urstalhnents of Ponds. If the amount of the Funds
<br />held by (rnder shad ant tsc suRir,enr w pay taxes, assessments. utsurancc premiums and gnnmd rents as they ftJt due.
<br />Bur rv,wcr sh;dl pay to Lender any amount net-essary .n make up the deficiency within )0 days from the date native is madCJ
<br />by !ender ca Hormwer requCSt+ng payment ihercnf.
<br />i-('leer paymcn2 iu hell nI ati soots secured by this DerJ of Trust. ! cndrr shall promptly refund to Bormwcr any Funds
<br />',r?d bc~ t coder If nndrr paragraph I & he rc„I :he Pmpcnv is .old ur the Property is atherwae acquired by Lender. Lender
<br />strait appiv, no later than 6mmediatdy poor ar the rate of the PmpcrtV or ns aequisruon by Lcndcr, any Funds held by
<br />t ender at the time of applicattan as a cn-dit against the scams secured !sy iMs Decd of ~frust.
<br />3. Application of Paynucuts, t-mess apptlrablr taw nn,vides uthcrw ur, all pavrncros recewoc! 6v Lcndcr under the
<br />5.er amt paragraphv t and 2 hereof mall !sc appl; ref M: I cndrr fiat rn psymcnt of amnants payable to I ender by Borrower
<br />under 1 ur agraph 2 hereof. (hen Q, mterest payable on t;':c Iwolr. then ro the principal of the Nt"te, and then to interest and
<br />ttrmctpat on any Ftzlure Advances.
<br />3. t'barge~ I-icra. Borrower shall pay all lases- .rsscssmrms anJ .aher ; harg€s. lines and nnpasuions nu rihntable to
<br />the PmI•s ty which may attain a priority aver Ibis fferd nt -trust, and Icasrhnld payments ur ground rants, if any, in the
<br />r. annex provided cndrr paragraph : hereof or, tt not paid en such rnamtr r. by Borrower making payment, when due. Directly
<br />t,r tree ;lay€e [herrat Borrower shall promptly forrush ro Leu;Ier all notices of amcnnus due cndrr this paragraph, and in the
<br />,-vent Borrower sha!i make payment dtrectip, Barenw-rr shall promptly turnlch ti, 1 cndrr receipts evnlencing such payments.
<br />B.e rower shat! pruntptlp dtserhargc ::a.::cn :.hrch has prauay ovvr thcc 1)c€d ut inxet, pr ovidcJ. That Harrower shall riot he
<br />!cyuurd ro dixharrr any inch Len :,., ;ong ns Borrower <hali agi er m ~., olio;; m the payment of the ohhgaiion secured by
<br />.uch !.rr: is a manner a; eeptab?, t:: i ender, or shall ur grxsJ tarih contest cu<h hen h}~, err defend enloreemcnt erf such hen !n.
<br />;cgat ~,m.ec-dcngs vs track nLxratr to prevent the errtl orcrrncnt of itx Iu•n or tot tcuure ni the Prnfurly or any pail thereof.
<br />Harard Wsuranee. Hon rive er shat! I,cep the mrpre:crtenls now ranting or hrreatter erected on the Properly insured
<br />agaaisi Inns by fire. tazardc inrludctf eithtn the term "cvcrtdeJ ,overage~~, and such o!her haaards as t cndrr may require
<br />a tx! rn vrcn amounts and fix sucia pcrrudc as I rm3er rosy rcgwre; pmvufcJ. that Lenrkr shall aoi regmrc that the arnaunt ai
<br />sre:h .average exceed that amount nt caver:sgc rryurreJ to pay the. sums .secured t:y tins Dtt'rl of "f rust.
<br />T'hr tnsurancz Ca ertrr provrch rig ,hrr• tnsucancc shaif he cltrzvrn F,iy Harrower snblcct to altpravn! by Lender. provided.
<br />that such approval shaft rat i,e urreasonahiy wnhhefd. AIE premutms un insurance policies shal3 be paid in the magnet
<br />ptcrvidCd under paragt'afth _' hereof or, .f nut paid era such manner, by Barrnwer making payment, when due, directly to the
<br />inuurance carrier,
<br />Ail msrrraneC ptslrccrs and renewals rhrrcof shall he to [nrm a.cepiabir to 1-enclrr axed shat{ tncludc a standard motYgttge
<br />clause in lsvar od and to hsrar aacrprahtr n-t lender- 1 rnitCr shag have the right to hnid rttr po{icics xnd renewals thc~roi.
<br />,.nJ Bat rr.rwcF shall prvenpt7y furnrct; ts, I c[tJer a3! renewal autKt•s and ail recatpis ea pool prcmiurns. In the event of loss.
<br />tfnrmwer shaft grog prentpt ndtrcr to tree roster arn;e e arnCr ansi Lcndcr, d Coder pray make proof of toss +( not nwde prompU}'
<br />fly B(?Frnw'er.
<br />Unless trader sod Borrower ixFhet wcse agccc ut venting, menrunce fsrckersis shall rte applied to rcatoraunn nr t~epatr of
<br />rdtr Property damaged, ; rov+drd such rc. tarattnn ar repeat rs esomtrnrcally #cactblc anti the secun!y of this UreJ of Trust is
<br />atot tt+rrehy srnpatred If such rCSavsuon or rrparr rs rx+i CcummacaRy trasibic or i# ttte sCCUray of this (7red of 7 rust would
<br />he rmpaurd, the ins{rtan~r proceeds shat! be appln;J ru the sums xec~urrd by this Ihed at Truv7. wuh the Cxce+s, if any, Pard
<br />ter Harrc,wcr. If the Prnpett} a abastdone<i by Borrower, or id Bunouer Iailz to respond to Lender within 30 days Pram the
<br />date notere is matted by fender to Ban'uwer that the rrtsurancC Barr err o$crs to scuic a cianu for rnsurana:C tsenefils. i,eradcr
<br />c, autbor2ed tc> collect n+rd npp_ ty the ittstrr:utce pr xee+.ls at 4 endt~r's up8an cuhef to rtstoratron ar repair of the Property
<br />t=r to the same aecurrd by this f7eed ed Trust.
<br />t?ndesx fender and Be'trrowCr .+rhutwrse agree u+ wntrng, any such upphcauon of prekrretfs to pr inetpat sfiali riot rxmnd
<br />ut pustpraoe the due Jate aI the msmhfy installments ;CferreJ to to paragraphs 1 nmi ^_ hereof ur chartgu the amount od
<br />such mstattntCrxs. Yf under garugraph )n ~;ee+I the Property a acquired by i.e; rdcr, ,JI right, title and iuterat of Borrower
<br />m and [n say snsurancC puhcies and rn and [a ihr prcx~eCds tftrreal rrsuitirag trout damage to the Property prior Io the sate
<br />„r acqu+s+tron shall pats to Lender to ttte extent of the sums secured by fhrs L>,eed oI l'rust tmrnedtately prior to such sole ar
<br />aequixi[imt.
<br />6. Psexrsatba and SNtdatenance of Property; I.er~ehold+; t'ondominiams; PFaaoed ling Deretopmrals. Borrosacr
<br />-.h;+lt icecp the Profu eh' ,rs gtu,d rep:ur and strati i;u[ ,omnu5 ua,rc ar ps•rnrn irnp,.n tricot ur deter ulrutiun of the Property
<br />.aid chaff ~tntpty with t4ie pmvcstom of any ieasC i[ this t)erJ of Trust rs era a leasehold- If ti[is t?cod ni' `frost is an a unit in a
<br />nndomutrutat or :t planned rout deseinpntrrt, Harrower shaft pednnn x31 a: Borrower's oh[tgatnsns undec the ctcetar.LLeon
<br />.,e "sveti:[ttts creattr*.g or governing the condermtuum or planned umt dra cinpntent, the Icy-laws and regular+en+ of the
<br />aondomiructm cu planned liner r#ovetc>pnxra, and rnnstituen[ dcxuments_ I± a cnadnminium ur p[amted unn dee~cfopri[eut
<br />;,der is execmeJ by Borruwrr ins; rCiordett ioget her w+th tits 1)crJ cst trust, chi tuvenanis end agrecrtents of such rider
<br />+ttaif Fr tt~rporaied roar and shall amend and suplrlrmCrat tfrc vac,,nunts avid agreements of this L)ec~l nI lYmt ae if the ^dcr
<br />were a part hs~rcof
<br />7. 1!rulecfioa cd i_eadat's Secnrily. 1; Bturnwcr fa+ts ut perform the covenants ~tnJ agreements <untam€d m i}ur.
<br />itc~cd ut trust, ar cf any aGZitnt ,ar pr~eedtng is ct3mnxnrcd which mu~ct:a[iy a(Trcrs l_cnilrr'. ustcrx~t ,n the Property,
<br />:xuauda,•ng, but :at tinuted tu, eminent damaaa, insolvency. code entorcemem. air area ngementx of prnccrclu+g, invulung .,
<br />hattknrpi x dCCxxfent, then IcnJer at f.erxfers option, upon raue:e to Barrnwer, Wray make curb appearances, drshurse xi.h
<br />rLUVtt and lake sutdx aetrrkrt as rs neCCSSary [o protect L.C+[dez's m[Crest, utc[ssd;ng, but n<,,t intnted to, dinburstvncm nt
<br />rCasrtn5txie ~Yictrt~y's fees sad entry upon the Property :o make mpail's. tf f_endcr reymrCd rnurtgags inuuuna.e as a
<br />crntditapn atf nta$ing the .can scxurcd by tFtis i?eed of `fr[tst. Bor rtxwer she i! pay the premiums zequ+red fo r:,:emtau, ouch
<br />tttct[raaea eu C$~t un'ii cttpk [i#tn as the tequirensrnt for such otxurattcc terminates rrc arraardance wuh Borruwrr\ :.rid
<br />E-endesY wrtt~n agreag[[arit or appticafafa Oaw. ikrrruwer shalt pa} the anxaunt ,it a!1 ntwtgage insurance F*rcmitmis n, th::
<br />~+arrae-r pravidca! :sorter paregtaph 2 hcrsvzd.
<br />A~ artx*afnrg dis!xttxetf Fsy I-crsder p%irsusrtt to this parags~aph well' ;cure'@st [herr.ni stxall i->c~rutc -cfclni,'nlai
<br />e°+.;,~R_ rnc~ eK Btrrterwe-,t muted by fhrs 1'tf of Tntsl. L+nft^sS Borrower and F Crrdct ,tgreC I„ label Icfrns at f rymcnt. such
<br />~~ ,Il t.e pa}a`r'e u{.war notice Fra~na Lcrtder rte Batrrawer requcsung p,-tyirnm th~muf. and sh.Jl tx^ur mterest ter,nv the
<br />d i vrwc a r t}te ^:?cs pay#fHrt F.ou4 fluter tea tia[c an enatstartdatg prmctpat under the .'ore a tics payn[cv[[ of trttercyt
<br />s x. -- ~ .'d r?r•. d-artuury fa app(tsabit: taw, in w-1}is:h event trash tntauntc ahait fxca: interest as the hrgFxcz[ cafe
<br />#rr,r. r,nsst ie;r ay F7~: abEe Saw- *i~*siting .rtntarntrd set this paragraph J s[ta#I ret[une Lcndcr t<+ incur auy expense tit take
<br />auty 2.: r. ' r:~det.
<br />i, i'ah yiaw C,urtx#rr map rnske .,*t ~ ~ausn ra:, be mafk rc*aa»:r-,.;,#ria entnas upon ens{ - a.{o, a,im +•± the Propery. i^; w zdc:r
<br />zrxr t.; t `~ia€i >&ia~ Brarrewcr rxt trs:e prtsrr tct say 3~tr,•73 !as}try;tn.,n o-p€s'rty:rig rzas.eut Rate .-a axe tfa r •ter ctlsted rc 1 c~nJer ,
<br />i i...,<st n '.hr }`~r,stiHfrv.
<br />
|