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<br />83-003836
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<br />UNJPOIIM CovENANTs. Borrower and Lender covenant and agree as follows:
<br />.t. ~ of PriJId'" .... tllfnesa. Borrower shall promptly pay when due the principal of and inleresl on the
<br />indebtednes1l evidenced by lhe Note, prepayment and late charges as provided in the NOle, and Ihe principal of and interest
<br />on any Future Advances secured by this Deed of Tn'''.
<br />2. ........,... ~ ... J_. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest are payahle under the NOle, un Iii the Note is paid in full,
<br />a sum (herein "Fllflds") equal to one-twelfth of the yearly laxes and assessments which may attain priority over this
<br />Deed of Trust. and ground rents 00 the Property, if any. plus one-twelfth of yearly premium installments for hazard insurance,
<br />pluB one-twelfth of yearly pmnium installments for mortgage insurance, if any. all as reasonably estimaled initially and from
<br />time to tlIM by Lender on the basis of a_ments and bills and reasonable eSlimales Ihereof.
<br />The Funds Mall he held in an institulion lhe deposits or accounts of which are insured or guaranleed by a Federal or
<br />Slate agency fincluding Lender if Lender i. such an institution), Lender shall apply Ihe Funds to pay said laxes. assessments.
<br />insurance premiums and ground rents. Lender may' nOI charge f()t so holding and applying the Funds. analyzing said account
<br />or verifying and compiling .aid auessments and b,lls, unless Lender pays Borrower intere.t on the Fllnds and applicable law
<br />permits 1.ender 10 make such 3 charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Deed of Trust thaI interest on the Fund, shall be paId 10 Borrower. and unless ,"ch agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required (0 pay Borrower any inter~t or earnings on the Funds. Lender
<br />&/u.1I gille 10 Borrower, without charge. an annllal ac"ounting of the Fund, showlOg credits and dehits 10 the Funds and the
<br />purpooe for which each debit to the Funds was made, The Funds are pledged as additional security for the sums secured
<br />by thi< Deed ,,( Trust. .
<br />If me amount of the Fund. held by Lender, logether with the fulure m"nthly installments of Funds payahle prior to
<br />the due dates of tun. assessments, insurance premiums and ground rents. shall exceed the amount required 10 pay said taxes.
<br />assessments, iO$Urance premiums and ground rents .1.') they 'ail due. such eX4:ess shall he, at Borrower's option, either
<br />promptly repaid to Borrower or credited 10 Borrower un monthly inslallments of Funds, If the amollnt of Ihe Funds
<br />held by Lender '!tUlU not he sufficient 10 pay ta~e!\. ;:i.!~..menfS, insurance premiums and ground rents. as they fall due.
<br />Borrower shall pay to Lender any amount necessary to make up rhe defiCiency within 30 days from the date notice is mailed
<br />by tender to Borrower requesti", payment thereof.
<br />Upon payment in fun (>> all sums se<:ured by this Deed {,( Tru"r. Lender ~hali promptly rdund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property l~ sdid or the Property is ()(~crwlse acquired hy Lender. Lender
<br />shan apply, n~ later than immechately pnof to the sale 01 the Property _ Of_ llS. <-!.(:quislt1on by Lender. any Fl1nd~ held hy
<br />Lender-.at the time of application fU. a credit against the sum~ secured hy thIS Deed of Trust.
<br />3... Application of Paymems.. Unk~$ applicable law proVIde.. orhawI!-e. aU payments received oy Lender under the
<br />Note and paragrJiph-s I and 2 hereof shaH be applied hy L~nder first in payment of amounts payable to Lender by Borrower
<br />u~r paragraph 2 be-r-eot. then to j-nteN:~r payable on the Note. then h' the prinCIpal of the Note, and then to interest and
<br />pnnctpaJ on any Future Adv8nce.1.
<br />4~ (~; lJaa. Borrower :'\haU pay all t,ne,,_ a,'iessment-..; ~ind other charges. tines and Impositions attributable 10
<br />the Property which may attain a priority over thIS Deed (If Trust. and leasehold payments or ground rents. if any, in the
<br />manner provKkd under paragraph 2 hereof Of. jf not raid III such manner, oy BtJ-fH.1Wer making payment. when due. directly
<br />to the payee the'reo#. Borrower shali prompdy furni~h tn Lender ~IJ nollce.. of amounts due under this paragraph. and in the
<br />event Borrowt!f shall make paymem duectly, Borrower shall promptly fmOlUl 10 Lender receipts evjdencmg such payments.
<br />Borrowcr sbaU promptly disc-hargc any hen which has pnQn~y lwer th;s Deed of Tru.'iI; pr\l\'Jded, that Borrower ~hall not he
<br />required to di.v.:huge any luch Hen ~) long a'i. Bor-rower \halJ agree to writin~ to the p~tyment of the Obligation 5iecured by
<br />'Such hen to it manmrr acceptable to Lwder. {1f -shaH in good (alth conle-st "\K.:h Iren by. Qr Jefend enforcement of sm;h hen in.
<br />lega. prot.'eCdiDp: whiL'b operate to prevent the. cnforcemem of the. hC-11 or f\,'\rt-eiwtt: of the Property or any part thereoL
<br />5. 1Iu:atnI1~. Borrower shaH keep Ihe Improvements now (:~lsHng or hereafter erected on the Property insured
<br />38wnst lOss: by fire. huards ifiCludc-d within fhe term "c-.;tcndcJ ("vcmge'<, and sllch other hu.ards as Lender may reqUIre
<br />and in !ucn amounts and for such penodlJ; a1\. Lender may reqUire: prnvu:teJ. lhat Lender ,hall not reqUIre that the amount of
<br />~cb coverage e'Xicecd thaI artJoUtI( of c.overage requm:-d to par the sum.. -secured tw thi) i)eed of Tm-st
<br />The insurance carrier providing the- in.$unnc-c ..hail he dW"i<.'t) oy Borh.......er subject lo approval hy I cnde-r. prOVided,
<br />that such approval .shall not be unrt'~soflahly withheld, l\ll premuum. on ins-ur ~nce. pt.~icu~~ shaH he paid in the manner
<br />pKWided uftder parapapb '1. hereof Uf, ~t not paud ltl such fna-nnet, by Borrower mak.mg payment, when due, dirt_ctl>, to the
<br />Insurance cal'rier.
<br />All insurance policies and renewahi. dwrrof lhaJJ be IU form a...;~cplab-it In l,ender and ~hall mclude u standard mortgage
<br />clause: in favor of and in foml .ac('cptable to Lender Lender ...huH have fhe flght ~o hold the p()ii\:t~ tlnd renewals thereof.
<br />and Borrowe-r !/hall promptly htrniah to Lender aU fellt:\\<al notKe" ~n.j all feet-JplS ()f pauJ premwms. In (he event ,)f Joss.
<br />Borrower lhan give- prompt DO(.j(;t to tbe msurance (dHtc-r alld Lender. lentie:r m~y maLe proof of I()J~ Ii not m~de promptly
<br />by Borro_1.
<br />Unless lender and 8orro'Wer Nherwik agfee m wnfwg, Iilsurtlnn~ prt.'M.:<<dt: ~hail be ilpplied In rc~loratlOn Of repair 01
<br />the PropertY. damaaed. PlQvj4:d s-w:h rtj,(oraUon Of, re-pJ-if 1'1 enlfll)ltlH,-,aJly fe.as.ihlc it-od the securny o.t thl'" Deet~ of Trust's
<br />f\()t thereby Jmp.ned. If s\K:h re&toultton Vf [(paft h fi{J-t C~l)nl.:mucan)' fca_MbJe or d the ~cur.ty of thl\ Deed of frust would
<br />be Impaired, the insurance- proceed." sh.aU be avphe.d 10 lot': iUm'i sct.;ured by this l)eed (If Trust. with [he cxce~s. if any. paid
<br />to Borrower. If [be Properly i, abandoned by Borrower. or jf Borrower fails. to re$pond W Lender within 30 day.. from the
<br />dale OOli~ i$ mailed by Lender to Bcrrowcr that the lH:iUfan,c. ":tlfncr oifers [.0 KtUe a datln for Insurance benefits, Lender
<br />is authorized to collect and apply the iUllurance pf(X.'eed~ at Lender', OP(.ou either 10 rcslorahon or repair of tne Property
<br />or to the IIUm. ,"",ured by tha Deed of Tnnit,
<br />Unless Lender and Borrowcr othefWl&e agree !fI writing. an): !tuch apphcatlon ot proceeds to pdndpaf shall not extend
<br />or postpone the due date of the monthly in~taHmc.n{fl. referred In in paragraphs I and 2 hereof or change the amount 01
<br />suclt installments. Ii under patlillapb I ~ nereo, the Pc<'peny " aC'lUlte<J by l.ender, all right, .itle and in,eres, o( Bmrower
<br />in and to any insUl1I.IlCe poIici... and in and 10 the l'<u,;"e<1< lhereot """ultlOg from dama&<: '" lhe Property pnor to Ihe >ale
<br />t'" acquisition sball pM$ to Lender to the e~lellt 01 the sums ...:ured hy ,h.. Deed of Trus' immed,atcly prior to such sale or
<br />acquisitioa
<br />6. ................. ~ of 1'l'operty; ~ Condomlttiums; Plaaned Vail IHvelopmeDlo. Borrower
<br />,-haU keep ihe- Prope:-ny in gO()d. repair J;n4 shaH oot -commH w,astr- or pernlll impairmt'n[ lJ( deterioration of the Property
<br />and shalll'Omply with the p<ovisio... of any leaoe if th.. Deed of Trust j, ..n a leasehold. If thIS Deed of Tnt$! IS on a unit in a
<br />(.vndominium or a pl.aaned unit de\'dopmeni. Borrow.:,- shall petiorm all of Borrower's obligation.) under the declaration
<br />or covenants cn:-.ating or governioa: the: condo-rrunjum or planned untt development. tbe by.laws and regulations of the
<br />CO<I<lominium or planned ullil developmeot. and constituent document" If a condominium or planll<'d 1I01! developmen!
<br />rider 1$ executed by Borrower and reco-rded together with thjs Deed of Tru'"t. the COVenants and agreements of .'iIJ~h rider
<br />shall be incorporated into and shan amend and $Upplemt:-flf the covefl.anh and agree-me-ms of [his Deed oj Tru:\( a\ if [he rider
<br />wen: . pat1 bf#of.
<br />1.. ~ of l.etHIe:r'. _Brit)'. If Borrower falls to perform the covenants and agrcemenl~ ,ontaincd in this
<br />Deed of Trust. Ot if ....y action or p<ooeed,ng i, c"mmeneed whkh materially alice.. I.ender', IOtere>! in the Property,
<br />i~ but IlQt bmiled to~ emlne-nt. du-main~ insoivenc-y, c-ode enforcement. Of arrangement~ or proc-ewl-np Involving a.
<br />bankrupt Of -decedent. theo Lendet-.at l..end.er's option, upon nottce to Borrower, may make such appearam;e>~, di~hurse su-ch
<br />.mms a.ad tak"Cl -such actiQJ1 :u is necessary to protect Lender's intere:\{, including. hut not limited to. disbursemem oj
<br />~ lllWotc:y'S f_ ilnd _ry upon lhe .Property 10 mal<e 'epai.... If Lender required mortgage msur.n"e "' a
<br />~ of mUilll the loan ~ hy lbi$ Deed of '1'r""l, Borrower shall p.y lhe premium. r""",red t" nUlIn'.", ,,,....h
<br />i~ fn did. U11ti1 5Udl timl',u,tDe rcquif:1t:ltlen.t fot such in5urao,c termluQte:;; in ac,cor-dun~e with B(Jrr\.~'er's .lntl
<br />l__...J WliUIin ~. 0(. applicable law. Borrower '. hall pay the amoont <>f .11 mortgage i",urance premium, m the
<br />_~ Uttd<< p&raJfaplr:Z henIof.
<br />'.. 1\ AllY .. ao aalC!IUlt&. . , . . . .dislJunciIl by L"~r po......nl Il' Ih,~ palairaph 7. wltb 1II1ereot thereon, ,hall bewme .dd,llon.1
<br />,~of Bonower ~ by !his Deed uf Truot. lml.... Borrower and I.ender agree to other le,m. of paymenl. "1<0
<br />~ .shatl bII ~ upon _il:e flQm Lender ~'" Borrower f~inll paynM"'1 !berool. .nd .hall ""a, IOte,est fro", the
<br />..,. of ~ JOt lh!!~ payable trOll! time 10 lime on QUt,'IlIfl<l;"1l prillCipal under the Note unlo.. paymen' of in.e,'e..
<br />at -". taW would he <:MIrll!y toapplieJlbk law. in whkh evenl ,uch ll",QUnt> .h.1I ""a, mte."" al thc hi.he" rot"
<br />~blo tIll4et llflPi~ la,,'> NVlbini rontaine<J in thi. paragraph 7 ,hall r~quire L.nder 10 1000'Ur any e,'peme <lr take
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<br />.c6de1 .y_ mate i;llf t4~ ttl be: maik j''('ji.;w-ni-ble e!!t-ta~ upon anti !m~hQn5 {,f the Pro~'lt."J1:r. pn-.vIJi:',"-'
<br />1kK~ ftotk~ P-fWf W any M.iCb n$pes;l-wtl !~!-fYU11- t>e'o\-wna,bk '-au~ therdof rdatN h} ( coJer...
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