|
<br />I
<br />
<br />83-1305777
<br />
<br />
<br />r
<br />
<br />lJN1FoaM CovI!NANTlI. Borrower and lender covenant and agree as follows:
<br />L ~"''''''''''*''"'... 1_ Borrower shallpromplly pay when due the principal of and interest on the
<br />indebtedness evidenced by.the Note. prepayment and lale charges as provided in the Note; and the principal of andin~
<br />on all)'FUtureAdvanc:es_tlTedby this Deed of Tmst. . . .i2'
<br />:z. .....rw"-....<I_.Subj<<:t to applicable law or to. writtellwai_'by Lender; ~sbllllpq
<br />10 Lender Oft the day monthly iJlStallR1ents of principal andinte""l are payable uodertheNote. until tbe Nnte is paid inftilk
<br />a.sum.(herein "Pund$") equal. to ofMMwelfth of the yearly ta....and. assessments which. may au.in.'prinTil}'<overt"is
<br />Det:d of Trusl; and ground rents on the Properly. if any. plus one,lwelflhof yearly premium installments for hazard insurance.
<br />plus one-twelfth of yearly """"ium installments for mOrtgage insurance. if any. all as reasonably estimated initially and from
<br />time to time by.L=der on the basis of __ts and bills and reasonable estimates thereof.
<br />The Funds shall he held in an institulion the deposits or accounts of which are insured or guaranteedb~ a F<'llehllor
<br />stale agency (i~ng Lender if Lender is such an institution). Lenders,!a1lapply lhefunds to paysaidta~";assessment.;,
<br />U1suraooe premlltfDS and ground rents; Lender may not charge for so holdmg and applymg the Fumls. JlnalYZlng sa,daccount
<br />or verifying and compiling said _n.. and hills. unless Lender pays Borrower interest on the FUllds and applicable law
<br />permits tender (,0 make such a c~aTgC. Borrower and Lender may agree in -writing at I-he time--of exeCUltOh of - this
<br />Det:d of Trust that interest on the Funds .hall be paid to Borrow.".. and unless such agreement is made or applieablelaw
<br />requires such int_ to be paid, Lender shall not be required to pay Borrower any IDte...,.t or esmin" ollthe Funds. Lender
<br />s.hatl-give 10 Borrower. without charge. an annual accounting of the Fund, -showing crcdjts and debrts to the Fund-s. 'and-the_
<br />purpose for which eaclt debit to the Funds was made, The Funds are pledged as additional security for the sums secured
<br />by thi.Deed of Trust.
<br />ff the amoutlt of the Funds held by Lender. together with the future monthly installments of .Funds payable prior .to
<br />the due dales of tue~ assessmml$. insUDnce prem'iums and ground rents; shall ext.-eed the. amount required to pay _said -taxes..
<br />assessments, insurance premiums and ground rents- as they fait due. such excess shall be, at Borrower~s option. either
<br />promptly repaid to Borrower or eredited to Borrower on monthly installments of Funds. If the amount of the ,Fumi.
<br />held by Lender shan not be sufficient to. pay UIl(e5, assessments, inUlrance premiums and- ground rents- as they JaU due..
<br />Borrower shall pay to Lender" any arJl(lunt necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender 10 Borrower requesting payment thereof.
<br />Upon payment in full of all >urns secured by Ih.. Deed of TOIst, Lender shall promptly refund to Borrower any Fund.
<br />held by lender. If under paragraph 18 hereof the Property IS soid or the Property is O:t~erwise acquired by Lender. Lender
<br />shall apply, no later than immediately prior to the: sale or the Property or its acquiSItIOn by Lendef~ any Funds held by
<br />l..C'ftder at the- time of application 3!- a credit against the sums secured by this Deed of Trust.
<br />J. ApflUcadon of Pa~ Unless 3pphcable law proVides othe1Wlse. aU payments received by Lender under the
<br />Note and paragraphs I aDd 2 hereol shan he applied by Lender firu '" paymclll of amollnts payable to lender by Borrower
<br />under paragraph- 2 hereof. then to interest payable on the Note. t~n to the prlnctpal of the Note. and then to interest and
<br />principal on any Furure Advances,
<br />4.. CIaaqes; LitBI.. Borrowe.r shall pay ail t~t."'e'S" assessment"!> and other charges. hllCS and Impositions- allributable to
<br />the Property wltic:h. may attain a priority over this Deed ,!f Trust. and leasehold payments or ground rents, if any~ in the
<br />manner- p-rovided under paragraph 2 hereof or, if not paid H1 such manne-r, by Borrower makmg payment~ when du~. directly
<br />to the payee thereof. Borrower shaU promptly furnish to Lender all notices of amounts due under this paragraph. and in the
<br />event BOI'J'OWa' shall make p:iyment directly. Borrower shall promptly fllf01Sh to Lender rec-eipts eviden(:ing stich payments.
<br />Borrower shall pmmplly discharge any lien whkh has p-nodty over this Deed of Tru~l; prlwldeu, that BOfwwcr shall not he
<br />requited to discharge any s~-h lien w long a~ Sa-Hower shall agree in .....riling to the: payment or the obhg-ation secured by
<br />such lien In a manner accc:ptable it) Lender. or ..hall in good Louth ('on lest SHell hen hy. or deren~ eo[orc-cment of slIch lien tn.
<br />legal P~1i which o. pcrate to prevent the enforcement of the hell or f('rfclwre of. the ProperlY or any part thereof.
<br />5. I......... Borrower :\haU keep the tmprovcmenis now eli:ISlIng or hcreaher erected on the ProperlY insured
<br />against loss by tire. huards induded wnhin the term dc).tendcd coverage", anti 'liueh other haurds. as Lender may require
<br />and in $uch amounts and for such penods as Lcnder may reqUire; pro\'idcd. that L.ender shall not reqmrc that the amount of
<br />~och coverase I{!.:J-';eed that amounf of coverage re-qt.ured h'\ pay the sum-s sccured t1y thrs Deed or Trust.
<br />The inluranc-e t::uricr pr-01.-'iding the m...ur:.uH.C \hail he d){l<;('n by HOffov.-cr \.tlb,el'1 h) apJ'fl.wal hy I cnder: pHwldell.
<br />that such approval shall not be lmreuunahJy \Ao-lthheld Ail prc-miufds vn Jt15uram:e polif,;'ies shall be paid in the manner
<br />provided under pacaga.pb 2 hereof Of. If no-I paid :n slli:-h manner. hy 8orrower making payment, wr.,.!' due, directly to the
<br />iDIUr&QCI: carrier.
<br />AU insW'ana: pohcies and renewal:i thereof shaH be in torm acceplable to Lender and ...hall Indude .a standard morlgage
<br />clause in favor- of and in form acceptable to [-coder. Lender ,hall have Ihe fight 10 held the policlt"i and renewals (hereof.
<br />and Borrower- s.haU prumptly furnian to Lender aIi renewal fmlk:e~ ami ,JJI receipts of palo premiums.. In the evenl of loss.
<br />8orrO\WCt' shall give prompt noh~e to 1he IOSUr~"l: \.'a,rnef anti lender. Lender molY make proof of 105-\ If OQ( made promptly
<br />by Borrower,
<br />Unless under .00 Borrower t,lth(rwl~ agr<< jn wntmg. lIl!\.UfitOt::C proceed:s ..hall t:k:- i.IpplieJ to restoratioo or repair of
<br />the Property damaged. provided such ~Ioratio-n or repair 1\ e~onumh:atty fe.hlbb: ~nd the SCl:UrtlY of this Oceu uf TruM tS
<br />not thereby imp-aired, if such restoration Of rep.iUf 1\ not CC4.JOontK:aJly fea~lbte or tf the ~ccllrity of thi-s Deed of Trust wOllld
<br />be impaired, the insura.rn:e -PfO':~ shall be applied fO the: sums KCurcd by this Deed of Trust. With (he cx(,'es'. If any. paid
<br />to Borrower. If the Property i:s Aban~)ncl1 by Borrowcr, or jf BorrowC'r fails to respond to Lender with," 30 days from the
<br />date IlOtke "' mailed by Lender to Borro\1o'-er that Ihe IIlSUl'.<\nce carner otfer$ to seHre a daim (or lO'\uram.:t.: benefits. Lender
<br />is authoriud to- -collect and apply the in.wranc~ proceed~ at Lender'$ opt.on ~Hher to fe;;,toralton or repair of the Property
<br />OT '0 lhe ....... ,"",ured bv th.. Deed of Trust.
<br />Unlaa lender and Bof1'UWef otherwl$C <igr" 10 wrillO&, ;,wy su;,;h apptication of pw(;eeds to principal ~hall not exlenJ.
<br />or postpone the due date of the monthly jmt.llUmc:nts referret.l h} in paragraphs I and 2 hereof or change the amount of
<br />~\lCh inslalhnenls. If under ,paragra~ 11\ here'of the Propcfl)' IS acqUired by 1.ender, all right, title and jr"erc~t of Borrower
<br />In aoo to an)' iJ\$UHIIK"C polu.'1es and m and 10 the Ph~cOOS tnereof ribultlng from damage to the, Property pnor (0 the sale
<br />Of ~q!-,~ition mati pass 10 Lender- to the u.lent oj the $.ums ~(:ured by tht~ Deed ot' Trust tmrnec.:bately prior 10 \uch sale or
<br />8CqUWllon.
<br />6.. I'raentotloot _ MaltoIe_ of ProperlY; Lt-_holdo: Condomilliu_ Planned Vnit Developments. Bnrrower
<br />Sohal! k.eep the- Prt'-PCny In g\X..Q repair -.1nd s.hall not ...:ommH ~a'50tc ot permit impi.lUnll.:"llI or Jctcnmation l,f the Property
<br />and.thall comply with the prO\'l$iQIbi of any kasc If this Deed of TrUM is on a ic~hold, If thi!l Deed of Trust tS on a Un!l In a
<br />condominium or a planned unit dc\'clopmellt. Borrowec shall per.form aU of Borrower's obhgalions. under the oeclaratlon
<br />or CQvcnaQts cre.uln. or governing lhe \.~ondominlUm ;..Ir planned unll de-velopmeOl, the hy,law~ ,lOO regul:t(ion~ of the
<br />~i:um or planIwd unit ~lopment. and COO$htUCOl_ documeols, , If it I.:ondo-minium' Of planned IlnH ~I:\'clopmclll
<br />ridu. t$ ~ by Borrower and rec.orded lOlf;.ther With thIS Deed of 1 tUS-i~ the coyc-n-'lnts and agreements. {It SUi.:h nder
<br />shall be incorpocatcd into and shalt amend- and suppleme-nt lhe- co\'emml:li and agreemenlS of this Deed of Trm.l as if the rider
<br />were a part hereof.
<br />7. PIlMectiDa of LcWt~. Security. If Borrower fouls lQ per((um the covenants an-d agreemcnb contamed in lhi..
<br />Deed ol TruIt. Of' if an)' actiou or pr~n-l ;$ c::ommenced which materially affects, Lendcr'!. Interest in the Propel1y.
<br />inciudio&. but not limded_ t9~ ~-oc:m domam. i~vency. code enfQrcement. or arranacmcnts or proct.~djn~ Hlvolvlnjl ~l
<br />banltu9t Of' ~t.. tbeD Lender al Lender's optu:m. upon nonce hi Borrower. may make such appearan~\'s., dt~hurw Yllch
<br />-sums "tl({ _taU _such Kboo as is ncc~ to prtXet't Lender's Illleresl, induding, hut not limited 10-, di~buheilleHt of
<br />~bJe. at1O:t'tl,CY-'$ f~ and e-ouy upon. the Property to male rcp;.t:io.. If Lcnoer required mortgage insur.an.:c ;1:'. '-I
<br />~ ~ makml the loan $eCUrcd by thu Deed of Trt.n-t, Borrower ~haH pay the premiums reqUtfcd f{~ mauH.itJU \u("h
<br />.....flI... in ~ U8!iI $tKb, hint- as the requir-cmeflt for $uch insurance termlft-.lltc-" 'n ac..:ordance with Borrower's, am.!
<br />l.eader'l.. w-ritkn _Alfceme:ot Of Jii~blc. _ law. 8<x'rowe-r shail pay the i-lllO\.I:Ol of aU roortPie insurance premium:\- m the
<br />"'_ .......1ded under pIIi.....pb 2 hereot
<br />, Aft)' ~ diabvncd h~ under put'Itiatlt to this par-a-ir-'Aph 7. wllh mteresl there-Ofi. shall become dJdl1tou;.l!
<br />~ of Bofrower 1O(-Uf.C:U~y this I.>eed of Tf'UM.. llnlC$$- Borrower 4nd Lender .agree: to othe-r lerill\ or payment, 'm~h
<br />~tb.atl,_ pay:tbte-\lPO:R not!<< lrom tender 1-0 BotTO-we,r requntmg pa)'fnt:nt lherl."Of. and shall ~ar mtere'it In.\rl-l iilc
<br />_ $(.~ at lbe, '. P&)ab.h: f~ tUne to. ,time ~ outsiandinl prindpat und<:r tne NOfe uukn payment. -\)( jntcre~t
<br />*-' ~, -r.* Would 0., t;oottilQ' to ll~h(:.~ I~w~ l~ WhlCh evenl '$<\K:n amount~ ).haU hear Hlt(:f~t at (he hrghe\t rl1te
<br />~ under al'JIIiQble la.., NOlI"", ~ool"ncd "' tit.. paraJfa.... 7 shall require Leodef '0 "'cur an> e<pense '" lake
<br />My acllooher___. .... .
<br />..~ 1............y!Dale ,"<,"use.o be....... _able en",,,, upon ami "''''''''''Of'' ollh;, Prop<-rty. p"wldell
<br />tlIoU. ~ ~ .....lIotr_ _. ptwr to ""1 ....n rntpol:lion _pecify"'. fe_nable c.>...., th;,rel.or ",Wed '0 Lcml<r\
<br />........ ml.hct PmMn'f<
<br />
<br />....
<br />
|