|
<br />'~",-.--- ...
<br />~~
<br />
<br />I"
<br />
<br />83-004673
<br />
<br />
<br />UNIFORM CovENANTS. Borrower and Lender covenant and agree as follows;
<br />... ~. of PriRdpaI nd 1_. Borrower shall promptly pay when due the. principal of and ioterest on the
<br />indebtedness evidenced by tbe Note. prepayment and late charges as provided in the Note; and the principal of . and interest
<br />on any FutUre Advances secured by this Deed of Trust.
<br />%. ....... fer T_ ... l-.e. Subject to applicable law or to a written waiver by Lender; BOrrower aha/Lpay
<br />to Lender 0\1 the day monthly installments of principal and interest are payable under the Note, until the Note !spaN!'in' fUll.
<br />a sum (herein "Fund!") equal to one-twelfth of the yearly taxes and asses-,ments which may attain priority over this
<br />Deed of Trust. and ground rents on tbe Property. if any. plus one-twelfth of yearly premiumiostallments for hazaro.ln.,urance.
<br />plus one-twelfth of yearly premium installments for mortgage insurance. if any. all as reascinably estimated initially and from
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />'1De Funds shalf be held in an instilution the deposils or accounls of which are insured or guaranleed by a Fede....tor
<br />Slale agency (including Lender if Lender is such an institulion). Lender shall apply Ihe Fuods to pay said taxes. aSsesSInents.
<br />insurance premiu.... and ground rents. Lender may nol charge for so holding and applying the Funds, analyzing .aid.~nt
<br />or verifying and compiling said assessments and bills. unles. Lender pays Borrower interest on the Funds and ap~licable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of executloft"-of - thi$
<br />Deed of Trust that interest on the Funds shall be paid to Borrower, and unless sueI': agreement is made or applicable -Jaw
<br />requires such inlerest 10 be paid. Lender shall nol he required 10 pay Borrower any interest or earnin$" on tbeFunds. .Lender
<br />shall give to Borrower. wilhout charge. an annual accounling of lbe Fund. showing credits and debits to the Funds and the
<br />purpose for which eacb debit to the Fund. was made. The Fund. are pledged as additional security for the. SUQlS secured
<br />by Ihis Deed of TrusL
<br />If lhe amount of the Fund! held by Lender. logelher with the fulUre monlhly installments of Funds payable prior 10
<br />lhe due dates of taxes. assusrnenls. insurance premiums and ground rents, shall exceed the -amount required ,to pay said ,taxes.
<br />assessments, insurance premiums and ground rents as they faU due, such excess shall he, at Borrower's o-rion~, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount 0 the Funds
<br />held by Lender shall not be sufficient to pay taxes, asses-sment5, insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to Lender any amount necessary 10 make lip the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting paymenl lbereoL
<br />Upon payment in full of aU sums secured by thIS Deed of Trust, Lender shaH prompHy refund to Borrower any Funds
<br />I1eld by Lender. If under paragraph! S hereof the Property i~ sold or the Property IS otherwise acquired by Lender, Lender
<br />shaH apply, no later than immediately prior to the 'iale of the Property or its acquisition by Lender. any Funds held by
<br />Lender at the time of application as a credi.t against the :sum!> secured b)' this Deed of Trust.
<br />J. AppIindon of -Payments.. Vnleu applicable law provides otherwise. aH payments received by Lender under the
<br />Note and paragraphs I and 2 heren:t shall he applied by Lender first in payment of amo-unts payable to Lender by Borrower
<br />tmder paragraph 2 hereof. then to ,"terest payable on the Note. Ihen to the princlpal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4~ f1laqn; Lieas.. Borrower s.haH p.l\' all tu_\es.. J~e-s.smenh <lnd ('ther charges, I1ne51 .md Impositions attributable tiJ
<br />the Property whlch ma). attain a pnonty over this ~ of Trust, and leasehold payments or ground rents, if any. in the
<br />manMf provided under paragraph 2 hereof or, if ON paid in slJch manner, by Borrower making payment. when due. directly
<br />to the payee tbe,reoL Borrower mall promptly furms.h III Lender ~111 notICe:>> l)f amount'5 due under this paragraph, and in the
<br />(vent Borrower wall mak.e payment lhrC4:tly, Borrower shall promptly furnish ttl Lender receipts evidenCing such payments.
<br />Borrower.shall prompt!)' di5Charge am-' Hen whIch .'i'I$ priority over thiS Deed of Trust; provided. that Borrower shall not be
<br />required 10 discharge any such hen \0 long ,*s Borrower ",hall agree in writing In the payment of the obligation secured by
<br />such lien in a manner acceptllble to Lender, or ~haH m good hllth COOlest such !ten hy. or defend enforcement of such lien In.
<br />iegal pr<'lCeedings which operate tn prevent toe enforcement of the lien or forfeiture of the Propeny or any pan thereof.
<br />s. HaanlI~. Borrower ~ha11l<<:p the Improvements n()w c:\l",ung or hereafter erecte-d on the Property insured
<br />against loss by fire. hazards induded wilhin the term "c\lcnded lI..werage", and ~u-ch other hazards as lender may require
<br />and in $uch amounts and. tor such penods ~s- I.ender may reqUIre; provided, that Lender shall not require that the amount of
<br />~uch coveraJC: exceed that amount of' covcrage ft"qmred h"J pay the 5-Urm. Y"xured by thl~ Deed of Trust,
<br />The lmuraocc: carrier prcvlthng lhe in~ut~fKe \hall he dH'l'.t.'n hy BOUi;\Wer subject h) approval oy Lender: prtl\'ldeu.
<br />that such approval shan not be unreaiOOably wlthh-ekl_ All p~fmums on immrance policia shall be paid in the manner
<br />provided under paraarapb Z hereot or. 11 nOl piud 10 ~uch maoner, by Borrower mai;.ing payment. when due. uin:ctiy to ihe
<br />iDl~ carrier.
<br />AU insurani.'"'C pohcies and renewal~ dwreo( sh;iJl be In form a..:...'eptable H' Lender lInd shall include a standard mortgage
<br />da.use in favOl" of and in form a~ceptabte to Lend~r. Ll:'flltcr 'ihall have the nght tu hold Ihe policic,fi and renewals thereof.
<br />~nd Bt.X(Q"--Cf \hall pnmtptly lurotlh lU l.~nder aU re~w..l r\;.HlLC~ and all f~elp{S of })l-wJ premIums. In the (venl of Joss.
<br />Borrower shaH give prorupl notkot t-o the ,Uiur.;tn.:-e t"l;ifn~f ~tnJ Lemker. Lc-nder mar make proof of Ins.. If not made promptly
<br />by Borrower.
<br />. ,Unle5.\ Lender and BurrOwer OthetWl$C: agtee in wrt!wg. 1!l:'l-UfiUkc pH~eeds 'ilutll tle applied to 'e~loration 01' .rcl?alr llf
<br />lhe PtopC'-rl)" damaged, pn)....dcd such rcsh.1rahon (\[ lep<lH" I'" (;,-~\n(.lml(':.llHy Icustble ,HU.I the ~l..'tlrity of thl$ Deed 01 'f rust I~
<br />not thereby tmp:t1red. It' slIch reitoratlon 01" (t:"P'Uf 1<; ntH c":lmHIIlH:<iHy leaSlble Of If the M:-curity uf this Deed of Trllst would
<br />he unpaired. rbe m\tmUK<' pHX:ceds '>hall h<- ,appliCll 10 (he l)U!Il\ )c~ufed by thh. Deed (11 TnJ1.t, wuh the e:H:e\S, If any. pal~J
<br />h,l Uorro~r. If tbe Pnlpert)' I~ allandone..i by ReHown_ l\r if B()rhw.'tT (<lih to rc~pond to Lender within )0 days. tn.lm tht..
<br />date 0011<:1: IS m.i~t b\' Lender to 8orroow'cr that the lfI!lUranCc l."arner ntlen 10 settle ;1 dalJu (01' insllran\.~.:- benetits, I.ender
<br />IS author.zed to c-OUoci and apply the insulanl.:c pff.~.;eed3 i1t Lendtr'~ t.1ptioo c::nher to H:~toratlOn Of repair of the Propeny
<br />or 10 the iUIlU secured by IhlS Deed of Tm",
<br />Unless Lender and 8omlWfl' odlerwlsc agree lH Writing, any ~uch apphcalion of proceeds 10 principal shall not extend
<br />Of postpone the due- date of the J"nonthiy inMaHmeUls retcuw to In paragraphs 1 :tnrl 2 hereof or change the amount t1f
<br />such instalhnents. If under paragraph 18 heret.\t the- Property" aCl,fuired h)' Lender, aU righi, title and interest of Borrower
<br />in i;OO to.any insurance pohcies and In and to the" J'f"O"I.~ (beret)f r(:$uhi,ng trotH damage (0 the Property prior to the !!lale
<br />or acqui~.tii.)n -shan pus to Lender to the e,_tent 01 the sun\) ~ured by thiS Deed of Trust immediately prior to such sale or
<br />acquisilion.
<br />6. '->...... _ ~ of I'rope<ly; Le_oIdot Condomial.._ PJau_ UBil Developmenu. Borrower
<br />....~~{i keep the Property :n gv..'~J re-palf and ,haH n\.'l! ~urnnlll: ~d.'ih~ \l( rem)!! impitmnent Of lktt:riurailoil ~)t the Property
<br />aDd shall comply with the prO""ls.ions of .any kll$C it this Deed ,'\f Tru~t i~ on a leasehold. If thi~ Deed of Trust is on a unit in it
<br />cot'KionUnium Of ii piaUu.~ Otl-d de"..,:iOPffietU. &nvw~i: :.h",H f...:dviiH ..i~ ..;.( 3orm...~u':io ..miiga~i..m~ ",,,der the dcd.H~t:O:-:
<br />Of -covenants. creatinJ. or gove-rning the \.:'ondommil1nl or planned HOII develdpme-n1. the hy-laws and regu'ations (\f the
<br />l"Oftdomiftiwn- Of pla.rmed umt development. and -constnuent document$._ If a c-c.mtklminium Of planned unit de\1e1opmem
<br />rider is ex.ccutcd by Borrowc.r and RlCorded fogether wjth thIS Deed of Truu, the ;;O\lenan1s and agr<<mcnts ()f such rider
<br />shall be IhCOlPOf8.ted into and shaU amend and supplement the c\JVtmants <lnd a-8recment~ of thiS Deed of Tru\1 a~ if the rider
<br />_to a part hveof.
<br />7. PNectioa of LeMer'a Sec:til'ky. If Borrower fails 10 perform the .,;.ovenants and ilgree-menl:\ contatned in this
<br />Deed of Tl1Ilt. or it any act~n or procet:thns is -commern."ed which matenally affects Lender's Interest in the Property.
<br />i-ncllIding. but not limite9 to" eminent domaill, ilUOivency. code enforcement, or arrangements or proceeding\- Involving a
<br />bankrupt or dec:cdeat. then Lender at lender's option, upon oOlice to 8orrower. may male such appearance:'io, disburse ~ui;h
<br />sums- aDd take ~ act_ton as fS nectlS&Ary to proto:t Lerukr"s IOlerc5:t, lnd.udlOg, hut nO.1 hmited 10, d!sh-ul'~rnent (l-t
<br />rc.uoa.abie. ~ s Jees and enlry upoq the Property 10 make repall'$.. It Lender retlulred mOItPle m!iuran~e ':IS a
<br />coodilioa: of lliU.inI the loan ~fCd by this Deed of Tro~{, Borrower shall pay the premiums te~uired to rnau!UUn ~Ul.:h
<br />~ in. dhc;t uatil such tlmc as tbe r"tquirement for such Iflilm:mcc ternllna!es in ;ll;l'ord.ance with Borrower's ~tf1J
<br />l~:s Wriuen,alf"ll1C8~. t.ot a . ble law, Borrower- shaH pay the 3n\OUI.1t l),f alt nlOrtpge in.suranl.."e premiums .il1. I....
<br />_ pcovided under pv 2 hereof.
<br />."'-J &JDOUlIta d' by Lendet putlUitnt w this parilJ,ruph 7, With Interetl thenxlfl, lihall hocl~me ::U.tdltH.ll1al
<br />i~ of 8ott_ wcured by thi. Deed or Tn.... Un~ Borrower and l.ender agree 10 olher Ierm. ...1 poy",en.. such
<br />__ obaII. be pillab1e upon notil:e from Lender 10 Borrovrel requeslin. poymenlthereof. and sh.ll he., IDter",,1 lrom Ihe
<br />.... of ~ at the Rbi pilyablc from time 10 time on outstanding principal under I.... No.e tlnl"" p.ymerlt of inle""t
<br />,. ~ ... ~ be ,c.:oot,...,. to applicable taw, in whH::n event ~uch Amount, shall hear interest at the highest tate
<br />pIIIIlIiIolbIe wider .ppIi~ law. Nothillll COClI"inc<l in Ih.. par"gt.ph 7 .hall require Lender 10 mcur any ...pense '" take
<br />lIDl'-~.
<br />.. ~ l..tader may mak.e or -cause to ~ made reasonable' -t'nlnes upon antt lO~pecll-QO$ of the: Property, pmviJed
<br />lhai ~~~ 8l>rrowCf 00li;:.. pewr 10 any such "'.pecuon .pecilymC rea>onabko cauo<' Ih"r.lor related 10 Len<l..r',
<br />,n_ ,,_"-,"-v,
<br />
|