|
<br />83.-lJ04199
<br />
<br />If Borrow~ pays Fund~ to lender, the Fund~ shall be held in an institution the deposits or accounts of which are
<br />insured or guaranteed by a Federal orslate agency (induding lender if Lender is such an inslilution). Lender shall apply
<br />.he Funds to pay snid tales. ussC'ssmenfs. insunlnl"C premiui11s and gruum1 I'cnt"i. l...clu.ler may nut dl:lrgc fUT \It Iwtding
<br />and applying Ihe Funds. analyzing said account or verifying and compiling said assessmenls and bills. unless lender
<br />pays Borrower interest on the Funds and applicable law permits lender 10 make such a charge. Borrower and Lender
<br />may agree in writing at the time of execution ofthis Deed of Trust that interest on the Funds shall be paid to Borrower.
<br />and unless such agreement is ",ade or applicable law requires such interest to be paid. lender shall not be required
<br />to pay Borrower any inlerest or earnings on the Funds. lender shall give to Borrower. without charge. an annual
<br />accounting of tile Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was
<br />made. The Funds are pledged as additional security lor the sums secured 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. insurance premiums and ground rents. shall exceed the amount required to pay said
<br />tues, assessments. insuran<< premiums and ground rents as they fall due. such excess shall be. at Borrower's option.
<br />either promptly repaid to Borrower or cnedited to Borrower on monthly installments of Funds. If the amounl of the
<br />Funds held by lender shall not be sufficient 10 pay laxes. aSse5sments, insurance premiums and ground renls as Ihey fall
<br />due. Borrower shall pay 10 lender any amoont necessary 10 make up lhe deficiency in one or more payments as lender
<br />may require.
<br />Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any
<br />Funds held by lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by
<br />Lender. Lender shall apply. 'U) laler than immediately pdor to the sale of the Property or ils acquisition by lender. any
<br />Funds held by Lender at Ihe time of application as a credit against the sums secured by' this Deed of Tr us !.
<br />3. ApplbtlOll of P.y_la. Unless applicable law provides otherwise. all payments received by lender under
<br />lhe NOle and paragrapm I and 2 hereof shall be applied by {",nder titst in paymenl of amounts payable to lender by
<br />Borrower under paragraph 2 herrof. then to interest payable on the Note. and then 10 tht! principal of the NOle.
<br />4. Prior Mortaacn &lid Deeds or Trust; Cha.raa: Ums. Borrower ,hall perform all of Borrower's obligations
<br />under any mortgage, deed of trust or other securilY agreemenl wllh Ii lien which has priority over this Deed of Trlls!.
<br />including Borrower" cuvenants to make payment' when due. Hurrower shall payor cau,e 10 be paid all laxes,
<br />assesslll"nts and other char8"". fiiK'S and impositions attribulablc to Ihe Property which may a!lain a priorily ovcr Ihis
<br />Deed of Trust, and leasehold payments or groumi renls. if any.
<br />5. H........d ~. Borrower shall kt!ep the improvements now eXlsling or herealter erected on ,he Property
<br />in.urn! agilin"tloss by fire. hazarns indude<! wllhin Ihe term "ellendcd co'eraSt'''. and such olher halAnls as lender
<br />may require and ill wch amount, and lor such period, '" Lender may requIre.
<br />The insurance carrier providing Ihe insurance shall bt.' l'hoscll by Borrower SUb)CCllO approval by Lender: pro,ilk-d.
<br />Ihel such appro,..l sflallool b< unreasonably WIthheld. All insurance policies and renewals thereuf shall be \II a form
<br />aettph.ble 10 Lender and shall mclude a standard mortlltige dau", m layor of and \II a 101m acceplable 10 Lender.
<br />lender shall have the righl to hold the pnll",e, and renewals tbelen!. ,uh)Ccl t" the I~rm. of any mortl!agc. ,ked of trllst
<br />or other securuy agreemenl "ith a lien ..hId, has pm.....)' on:r I'm Dc""l "I Tru,t.
<br />In the ""enl 011,..." Boero......r shall gIVe prw"pl nolKe III the InSUronle camer anu Lender. under ",ay make proof
<br />or 1llS!i if nul made prumptly by Burma.;r.
<br />If the Pruperty 's abandmlCd by BOHo"'er, llr .ll:lorrower t.llh to re,p''''.! to Lcnder ",.thlll J() days from Ihe dalc
<br />u\lti\-"'C i~ ma.lkxl by l..end.er to Borro..'<< that lh-e msUratH,'C ~arrwr (in~r" lo ~eltk a daim for lfl\UratH:e beneiit\. Lender i"
<br />autborued to collecl Iud apply the inM1rallce prneeeds .1 Lender', opllull e!ther t" rn'or.twlI ,,,. repair 01 Ihe
<br />Property or to Ill<: SUIll> """..""j by Ilti> Deed of Tru,t.
<br />ft. ~.tlea iIAd M~-..... of "roperl,; 1.-hol.; CondulUlnhuM; P!atrnw Unll 1J~'elopmelll$, Bor,
<br />ruwer ,h,,1l keep the Property wgood repair and shaUllot """lillll "...te "I' permit impairme"t (Or deleri,'ral1on "I the
<br />Property..nd ,haJl comply w.tlt Ihe pro""'JOn, of oWy lea,e .lrhl. Deed 01 Trust IS 011 a tea,ehold. H IhlS 0"",,, of Tr..st IS
<br />on a unil in iI (,mdoltuniun,ol" pianned unil lle,dopmenl, HOHow", shall perform all or Borrower's obligation, under
<br />the dcclar-atwn Of "o\'cn~ht\. ..:-rC"ctltlfltt Of gOlfcrnjng the {.'imdouunium or p1anned un~t de-.'eJopm\7uL the by~J'lw\ and
<br />rl:gulllIIDr~S of tbe cOlldomimullI '>f pl..nnro unit dndopmenl. and (UIl'Wue/lt ",,,'om"/lls.
<br />7~ Prvtedieo or J...au,k,.I, Serudty~ It iiurn.Jwcr f~uh. ht perh_rtll the l'u\'cnauh ~nd agrcement\. (UUfaUlcd Hl llH~
<br />Deed ofTfUSt. or if an)' action or pr",,<<dIll8 i, l,,'mmenc..'<1 wlu(h mdtell..Uy allee" Lelldtrs 'nlereslIII Ihe !'!'Open}',
<br />t~ lefidtt. al lellder's optio/l. upon noli(e 10 BouQ-..er. may make sud, 'ppeara",..,,,. d..pursc su..-l. 'ums. Indudlng
<br />reawn.uk: "Hurneys lees. and lake s""h action ,I> is nt>."'sary to prolecl lender" luten:,!. If Lender reqUired nlHngage
<br />in$\,lfllliCe as a condition uf makinll the loan s",,'ured by tbis IJeed uf fru't. BOtTo..."r shall pay the "renilums required III
<br />nulintain such inufllll...,., in e/lect unld sueh time .h the requirement lOr such in'>Urance lernuna.les in accordance wilh
<br />Borrowef's and lender's written agreemenl or applicabfe taw,
<br />Any 4muullts disbursed by Lender pUl'liuanl tu lhis paragraph 7, with inlere>! thereon. a! the Nole rale. shall
<br />be..- additional indebtedness of &crower sc.:ured bJ this IJeed of Tru>!, Unl""" Borrower and lender agree to
<br />other rerms of payment. ,,,,,h amounts shall be payable upon notl"e fmm Lender 10 Ilorwwcr requesling pa,ment
<br />I~. Notninjl '.'onlaino.l in this pMagrllph 7 shllll require Lender to incur ar,} expense or lake any actIOn hereunder.
<br />&. ~. lender may mue or eauloC to be made re.uouable elllr,e. upon and inspe<.:t,on, of Ihe ProperlY,
<br />pt.....id(!4 dllll lender ,haJl give Bono,."r rwtk.'e prior to any SiKh inspection s"""itying reawnaole cause Iherdor
<br />!'dated In undes's intm:>t in tbe Property.
<br />.. C--..""...... The prO<.'CCds of any award or claim for damages, direcI or eow.cquential. ill C<>flnecllol1 with
<br />IiflJ C1.Hldll1tlnation Of other tuillll of tho: PrQperty. or part tbereof, or for con'cyance in lieu ,)f condemnalion, are
<br />hercb, auij.lled and shall be paid to Lendez. subjc:ct to Ihe term, of any mortgage. deed oflru,t or other "",unty agree,
<br />~t with alien which bas priority over Ibi, need of 'I'ru,t,
<br />1.. &wro:~ N.t ~l "'orllea.r_ 8y Leader Net . Wilber. Etten;",n "t the lime tor ,,";men! ur
<br />lI\I94if_tiono"IIIll(lft~lionofthe sums s<<ured by tbis Deed of Trus! granted by Lendello allY suc...e,,,,, ," inlett',1 ,.f
<br />~ mall aot lipefllle 10 rele.ue, in allY milliner, the liability of.he original Borrower alld Borro"'er'; 'uc....e""" HI
<br />~t. ~t walt nm. be required to commenee prex'<<dinSs against such su,,,essor Of reluse to extend lime if" P"l
<br />llIiml Of (otherwise fIl\'Idify atnQftiut.klll of tbe sums '~ured by thil; Deed of Tru.st by' reasoll 01 IIn) demand m;ute by the
<br />~I.lon~ .lId Borro....,r.. SU(ce5"'" in Intern\. Any ft,lrbearan~.... by Lender in ",ern,ing an) righl (If remedy
<br />~. Of~t'\II~ ..Il'ord<<l by llpp!i<:able law, shlioll not be I waiver of or ptt.'dude the CKeITl"" 01 any .lIth riilhl <>1
<br />!1:~1'
<br />U, ~ .... ~ 8cnlml; J..... ..d s..<<a1 u.htljfYl C...olpt'..... The ,."'",,,anh and "iiH'emcnh
<br />bo!~ <:.:oot~ shall hihd.llnd the rlllhu "erel/lInel .haIl illlm: 10, lhe respt'ctiv.., ,..n"""'h""l.l ",.ill'" 'Jl Lefltln ,n.j
<br />Iktn,,~, tuhje(:t I" l.l>t .\","i<"l,,,of pMllglllph 16 he....."f All el...enmh /lilt! "litn'tomem, ,,,i a,'lrnwer ''':Ill ""in,,,! MId
<br />~f1t!, Any ~rrWii!ff WhO\"\"l".'\ti_ni tfu~ ~ of ffUJ;.t, bul d{~ lli)t ct-e",'ute thr N~Jtc. i~; i... .;n-\J;!ran~ t~H'" t~ed l~! f tu').t
<br />t,,~U-y h, ~)' '1fl1 jj-~ 4,<t."h"'-~ 'h,oJ ii, ,.t""1,~j1J ,"r-'.., iHh"ft~~1 ~H ~h~' ''"n'ffllf'rtJ' to -r ru!!>te~~ un~h'f ! 1.: ~", nH; {~f I ill, f', i_\f '1 fIt>..;l
<br />
<br />I
<br />
|