|
<br />84 - 002228
<br />UNIF011M CerveNANts. Borrower and Lender covenant and agree as folbws-
<br />1. ~'tmN of hiKipl awd IatlrreN. Borrower shat! promptly pay when due the principal of and interest on the
<br />+rsdebttdrsess evidenced 6y the Note, prepayment and late charges as provided in the NMe, and the pritcipal of and interest
<br />on any Future Advances secured by thts Deed of Trust.
<br />2. Rai ter T~ttr. ad Irwste. Subject to applicable law or to a written waiver by I-ender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note, anti! the Note is paid in full,
<br />a sum (herein "Funds") equal to errs-twelfth trf the yearly taxes and asxsments which may attain priority over this
<br />Cked of Trust, and ground rents nn the Property, d any, plus one-twelfth of yearly premium installments for hazard insurance.
<br />plus one-twelfth of yearly premium installments for mortgage insurance. if any, all as reasonably estimated initially and from
<br />time to reins by !..ender on the basis of assrsments and bills and reasomble estimates thereof.
<br />The Funds shalt fx held in an institution the deposits or accounts of which arc insured or guaranteed by a Federal or
<br />state agency Gncluding Lender rf Lender rs such an institunonl. Lender shall apply the Funds to pay said taxes, assesrrtenu.
<br />msurartce premiums arsd ground rents. 1_ender may not charge for so holding and applying the Furrds, analyzing said account
<br />or verifying and compiling card assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits I-ender to make such a charge. Borrower and Lender may agttx in writing at the time of exceution of this
<br />Deed of Trust that interest nn the Funds shall he pard to Borrower, and uMeu such agreement is made or applicable law
<br />requires sucA interest ro be paid. Lender shall not be requred to pay Borrower any interest or earnings on [he Funds. Lender
<br />shall give to Borrower, wu[aout charge. an annual accotmung of the Funds showing credits and debits to the Funds and the
<br />purprrae for which each debit to the Funds was made. The Funds arc pledged as additional seuurity for the sums soured
<br />by this Decd of Trust.
<br />If the amount of the Funds held by Lender, together with the future monthly irstallments of~Funds payable prior to
<br />the dtse dates of to=es, assessments, +nsurance prcmium.x and ground rents, shall exctxd [he atttount required to pay said lases.
<br />asaesme^ts, .........,. and gas>und nfs ... th^ ,,!! due. rh tsetse she!! !x, ~.^.axC'a optio ether
<br />promptly rcpard~toBorrower •or credited to Borrower nn monthly installments of Funds. If~the amount of the Funds
<br />held by Lender shall not tee xntTictent ar pay taxis, asxssments, insunnce premiums and ground rcnM as they tall due.
<br />Borrower shall pax to Lender anp amount necessary to make up the deficiency within 30 days lean the date notic! is mailed
<br />by Lender to Borrower tequestrog payment thereof.
<br />Upon payment in full of all sums secured by thts Cked of Trust. Lender shall promptly refund to Borrower any Funds
<br />held by Lender I(under paragraph I g hereof rhr Properly r, sold or the Property +s otherwrx acquired by Letsdtr, ~ersder
<br />shall apply, nn larcr than tmmediuely poor to the sale nt the Property or its acquisition by Lender, any Funds held by
<br />1_ender at she erne of application as a crtdu against the sums secured by this bred of Trust.
<br />3. AplirYloe of hynaesh, Unless appltwble law pmvtdes of herw+se, all paymrnts reserved by Lender under the
<br />Ynte and paragraphs t and ?hereof shalt he applied hr Lender first m payment of amounts payable to Lender by Borrower
<br />antler paragraph 2 hereof, then to interest payable nn the Note, then to the pnnctpal of the Note, seed thrn to interest and
<br />pnncrpal nn any Future Advances
<br />t. l:h~at Lfer. Borrower shalt pay all taxes. azxssments and ether charges. fines and emposttions attrfbutafde to
<br />the Property which may attain a pnonrv over rhea Deed nt Trust, and leaxhokl payments or ground rents, if any, in the
<br />manner provrded under paragraph Z hereof or. tf nor pard m such manner, by Burrower making payment, when due, dirretly
<br />u> the payee thereof. Borrower shall promptly t+ermsh to 1 ender all notices of amounts due under this paragraph, and in the
<br />rvrtst Borrower shall make payment J:rea-tty, Borrower shall promptly htrmsh to Lender recetptt evidencing such paysttetrts.
<br />fiorrawer shelf promptly dtschargc any hen rhtch has pnonty over thta Decd of Trust: provided, that Borrower shall trot Ire
<br />rcgwred to drxharge any sua~h lien a* 4>ng a. Borrowtr ,hall agree m wnu~a to the payment of the obligation secured by
<br />such hen m a manner acceptable t„ 1 ender ar .hail +n gcxrd (anti comsat such hen by. ur defend enforcement of stub lien in.
<br />!cgal procrxrimgs whn~h operate to prevent the cntonrmrm at the Ern or forfeimrc of the Property or any part thereof.
<br />S. Hatmd hurrra~ae. Borrower cha!1 keep the +mprovemcnts now ex+sung or hrreaftrr erected on the Property inwrttd
<br />against ins by fire. hazards included wuhm +he +crm 'extended :uvrragr'~, and such other hazards as (_ender may require
<br />nerd ur such xmnunts and tar s.»:h per rash a, !. der may rcgwrc. pnrv+ded. that Lrntkr shall iwt rcgwrc that the amount ul
<br />such coverage exceed that armxunt of rovrragrrrcqurred to pat the sums secured by this Deed of Tntat.
<br />The insurance caterer providing the rmuranar strait be cha>sen by Borrower subject In approval by Lender, provided.
<br />tlnt suds approval shag na tx unrcasonahly wnhhcld AH prcmmms on +nsurance policies shall be paid in the maattsar
<br />provided tsirder parapap~6_ hereof nr, rt not pard m such manMr, by Normwer making payment, when due, directly to the
<br />imunott carver.
<br />All rnsunnce pohars and renewals thereat shah hr ur Corm a;:ccptable w Lender and shall mcftide a standard mongagC
<br />deuce m favor of and in form acceptable to !ender I soarer shelf have the ngM to ho1J the policies and renewals thereoL
<br />acid Borrower shall promptly furnish to t ender n1I renewal +urtrles and ali reertpts of aid premiums. In the event of los,
<br />Borrower shaft gyve prompt nWice to thx +nsurance ~ar+or enJ f.endrr Lrndrr may make proof of loss d not made promptly
<br />by Borrower
<br />lJnleas Ltmicr and Ba?rruwer ;uheru~+se agree m untmg. ,nsurame praxerds shall be applied to restaralbn or repair of
<br />the Properly damaged. provided srnh rcxtorauon or rcparr +s rannomtrai!y teasthk :rod rhr security of this Deed of Trust rs
<br />not thereby rmpatreat If such rexmraonn ar rcpau +. not ecanatnsically trasibte nr rl the ses;unly of this Deed of Tntst would
<br />t+e +mpatrrd, the +nsurance prax~reds shall tee applieJ ro the same secured by this I)erd of Trust, wiin the excrs. tf any, prod
<br />to tiorrowcr. I( the Property is abandoned by Borruw~r, r.r rt Borrower lath to respond to Lentkr within i0 days from the
<br />date nutrce n marled try fender to Borrower that rhr +nauraoce earner elites to settle a claim for insurance benefits. Lender
<br />n authnnrcJ to cellist and apply the msurancr prsxeeds at Lendrr~x option entire to restoranrm ar rtpair of the Property
<br />or to the sums secured by this Deed of Tnest.
<br />Unles under amt Borrower ctherwtse agree to wrung, any stash applreauon of proceeds to principal shall oat extend
<br />or postppire rhr dice date of Ilse ntunthh~ cmtal{ments referred to +n paragraphs 1 and 2 hereal or change the amount of
<br />sra;A mstaltrrrcms. if under paragraph !t; hereof the Pmprny +s acywrrd by Lrndrr, all right, alts and interest of Borrower
<br />+n aisd la say insurance policies and +n and to rhr proceeds thercs>t resulting tram damage ro the Property prior to the sale
<br />or acgwsiuon shelf pass to Lerister to tfie rxtrm of the sums secvreJ by this Ueetl n[ Trust imnreilia[ely prior to such sale or
<br />acquisition.
<br />~. rrasarratlr ad MiNearce rr( Ptopert7; l.eaaslwlda; l'uwbwtiwireta; PhrW Unit Ikrels/weNa, Borrower
<br />.fuel! keep ttte Property m gtx~J trpa+r and shall oat n>rn+i s+asn• ,~t !>rrmn +mpaument or detenoratiun of the Property
<br />arsd shat! comply watt the provisions of env teas +7 this Decd ~+f Trust +, .*n a leasrhufd. I(this (ked of Trust is on a amt in a
<br />condominiurrr ar a planriat unit drve!opment, Borrower shall petlurm e!1 of Borrowers obhgatwns under rhr declaratron
<br />ur -uvrnants creating ar govermog the .oinfomuuutu or p!mtned amt development, the hy~laws sod regulauonx ui rhr
<br />_undomimum ar planneJ r:nn devrinemrnl. and cortsutrirnt dax:unrrnts If a condomiinum ur nlanrted amt drveMpmertt
<br />rider rs cxeculed by Borrow•rr end recorded together rash this Deed ++f !tint, the covenants and agreemems of such ndrr
<br />shall be incorporatal fine artd shall amend and wppiemeiu the n+srnana enJ agrcentrnts of th+s Derd of Taut as d rhr rider
<br />were a pan hereof.
<br />7, hMae1M d Lever's !lecwNy. IF Borrur~rr farts to perform rhr cw~emnts and agreenxntx :untamed +n thh
<br />Deed of True, or i( any action ar proceeding is ae>mnrerxed which materially affects Lemler's +ntrresr m the Properly,
<br />nreiisdirsg, but tta hmrted to. emtrteiu drxrura. msulrenc v. code enforcement. ar arrangements or psaxeedrngs +nvolving a
<br />haiikrupt or deecelent, then LersJer ai 1_ersderz option- upon neticr w Borrower, may rnakr srxh appeararxes, Jeshurse such
<br />sums and take such action as +> naessary to pro[at !.ender x +nterrst, including, liar not limned to, dtsbursemem of
<br />reaatsttrifle attorney`s fan acrd entry upon ttse property +o make repairs If !,ender required mortgage +nsurance a-s a
<br />..ue3+4.oa sNE a+aiura rtes ioan sauced ny titre Lterd of Truss, Borrower shaft pay the prenrrums tequrrrJ to ma+nta+n ,uch
<br />unurarrce m sliest omit sueA umr as ttx rrquircittent for such .nsurance terminates +n accordance with Born+werl enJ
<br />!_eetler'a wnuen agreement nr applrrat>lc saw Borrower shalt pay +hc servant of all rncsrtgagc +nsurance prenuums +n rhr
<br />ntaarser pravakd midst paragraph ~ hereof.
<br />Any +nsustn#s drsEtursrd by i ender pursuant to this paragraph 7. w~uh ~mcrest thereon. she{I l,r..xnr additonal
<br />irsrlebtedrs#ua isi Borrower secured by this i-hid of Trust l.: n{exs Borrower and Lrndrr agree to other terms a+t payment, such
<br />an#ratnla s(tiaff rte payable upon +x txro teeter I_rttdrr to Ibtruwr[ reysrcanng paynrciit therrvf, enJ shalt tear +nrcrrAi )r>m the
<br />dace sat dlMtugNOSta at tlse rate payable tram time to trine on ousatanding pons fleet under rhr ~iotr unless paymeiri s+t rntrrcst
<br />at wsh rate wiDUlr! be contrary to applrcabk taw, iu wh:h event ,rash arnounr> >haE3 treat ,ntrrrst at the highest rate
<br />ptirmisaible under applicable taw. 'Jwhing camtAinrJ srr this paragraph 7 shall tryout 1 ruder to +ncur any expense yr take
<br />any at:tiae tArresridn.
<br />(L ! etrxler may make yr sauce m ter made rrrs.rnablr znvirs apron anal mspecuoits at the Property. prvvtafcil
<br />rtsiit Linder ahaB grvr Barratrai nwaz pour tit any sua:h tsgpecu<>n .sprcrr ytng reaavnahlr s:aisar yierchw related a> I.enaler s
<br /><meraet in [ha Proeettr
<br />f;}~ ~~ ~llG+Li~'i0
<br />
|