|
<br />I
<br />
<br />. 83-tJU5895
<br />If Borrower pays Funds to Lender. the Funds shall be held in an institution the deposits or accounts of which are
<br />insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply
<br />the Funds to pay said tues. assessments. insurance premiums and ground rents. Lender may not charge for SO bolding
<br />and applying tbe Funds. analyzing said account or verifying and compiling said assessments and bills. unless Lender
<br />pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender
<br />may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower,
<br />and unless such agreement is made or applicable law requires such interest to be paid. Lender sbau not be required
<br />to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower. without charge, an annual
<br />accounting oHhe Funds sh-mg 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 for 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 .iue dates of taxes. as~"wnents. insurance premiums and ground rents. shall exceed the amount required to pay said
<br />tues. assessments. insurance premiums and ground rents as they fall due. such excess shall be. at Borrower's option.
<br />either promptly repaid to Borrower or CRdited to Borrower on monthly installments of Funds. If the amount of the
<br />Funds held by Lender shall not be sufficient to pay taxes. assessments. insurance premiums and ground rents as they fall
<br />due. Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments.. 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. no later than immediately prior to the sale of the Property or its acquisition by Lender. any
<br />Funds held by LeAder at the time of application as a CRdit against the sums secured by this Deed of Trust.
<br />3. Applleadae of p.y-II. Unless applicable law provides otherwise. all payments received by Lender under
<br />the Note and paragraphs I and 1 hereof shall be applied by Lender first in payment of amounts payable to Lender by
<br />llomlWer under paragraph 2 henof. then to interest payable on the Note. and then to the principal of the Note.
<br />4. Prior rot....... .... 0..- of T..-; o....-t Lifta. Borrower shall perform all of Borrower's obligation.
<br />under any mong.. deed of trust or other security agreement "ith a lien which has priority over this Deed of Trust.
<br />lllduding llomlWer'. COVflU.tlts 10 m&ke payments when due. Borrower shall payor cause to be paid all taxes.
<br />.......mentl; and other charges. fiDe$ and impoo.itiom attributable to the Property which may attain a priority over this
<br />Deal of Trust. aDd leuehold p1IymCDts or ground rents. if any.
<br />5. au-.t ~ Borrower shall k.e"l' the improvements now exisling or hereafter erected on the Property
<br />insured apimllau by fire. buarrls ...e1uded within the term "extended coverage". and such olher hazards as Lender
<br />may require aDd in .uch amaunlt and !"of .uch pennds as Lender may requIre.
<br />The illSllraDa: carrier pro..ding the Insuranet: shall he chosen by Borro....er suoJect to appro,..1 by Lender: provided.
<br />thaI such approoal .hall not be unre.....nably ""'Ihheld. All "'surance polic,es anr: renewals thereof shall be in a form
<br />4C<.-eplable to l.ntder and ,hall mdude a >tandard mortgage clause in favor of and in a form acceplable to Lender.
<br />Lender .1ta11 have lhe nght to hold the pohcin and ....".,...ab lhere<)f. subjeCI to the lern!> of any mortgage. deed oflrust
<br />or ot""" securily agreemenl .....th a hen ..hich has prior1lY <wer this Deed of Tru.st.
<br />In the e>ent of Iou. Borrowe~ .hall give prompt notK'e W the ,murance ,'..rier and Lender. Lender may make proof
<br />of Iou If not lIUIde promPlly by llorrawer
<br />If lhe Propcrt)' IS abandoned by Bor-ro-ott, or If Borro....,r fall> 10 respond to Lender withm 30 da)'> from the date
<br />notlCC'is mailed by Ltnder to Borrower thaI 1tK- InSurllJ\<.'t: ('ante! otlcr\ (0 \cule it cl.1I0'I t,)r tn~ur.ance b(netits. Lender is
<br />.authoriLed to <Otlecf &Od apply the tn~uralK'e proc"'etd':i .a1 Lender':. opuun ~Hher tu restoration or repair of the
<br />Property <X 10 the sums lCCUfed by thl!l Deal I>f Tru....
<br />6. ~ .... !II__ 0( ~Yl ~l C....dotDIah._, Planned Unit Developmenu. Bor,
<br />rower shaH keep the Property in good fe-pAJr and \-halt rwt cummit v.a,)te (l-r permn tmpalrment or deterioratIon of the
<br />Propeny ~nd ,hall comply *llh the P"""IOO' of .any Ie"", ,f th.. Deed "~I r rust .. ,;n a Ie.sehold. If thi, Deed of Tru'l is
<br />an a unit In a rondom....ium <X ~ plann<d unll dC'dapment. Borrower ,hall perform all of Borrower" obligations under
<br />the declaralklCl QI' ,,"OYCnants cn:atLnI Of rtwcmiog tOt cundomlnlum or pl.anned UlHl de'ielopment. the by.law'i and
<br />rc-gul.ationlii oft~ rondominlum at' planned unit dC\'clopmtot, ilnd cons.tt{Uenl dOCUnlcnf~.
<br />'. ~ 0( ~t. s...nlJ~ If 80fT0wer falls to pcdonn the cO"'cnaJH~ and acrcemenb contained in this
<br />Deal of Trust. Ot if an~. acl"", or pt",---eedmg IS rommeu.:ed ...hlcn m~terlally atfec" Lender, mlere;t In Ihe Property,
<br />thell Lendef. at Lender', option. upon llallet: 10 Borrower. m~y make such appearances. dlSbu..e ,ucn sums. including
<br />~abIe attorneys' lioa. and take such acllon 'IS is n~....ry to prot",""'! Lender', mterest. If Lender required mortgage
<br />in",rance... a cooditloa ofm.ktng the loan ""''\Ired by Ih.. Deed of Trust. Borrower ,hall pay the premium, required to
<br />maintain StiCh insuran.cc in effect untilluch time as t~ requirement for ..u\.~h ins.urance terminates in ac~ordance with
<br />Borrower', and Lender's ..rinen agreement or applicable la"
<br />Any .........nu dlSbvrsed by Lend.". punuant to Ih" paragraph :. "'uh mlereS! thereon. .t Ihe NOle rate. ,hall
<br />become additional indebtedness of ~r secured by this Deed of Tru,[. Cnle>> Borro...er and Lender agree to
<br />other _. of pa)'1llaU. "",h amount> .hall be payable upon notice fmm Lend.r to Borro...r r.questing p ymeUl
<br />lhem:lf. Nothing contained in thIS paragraph 7 shall require Lender 10 locur any expen'" or take anv action hereunder.
<br />... ~. lAnder may make or cause 10 be made rusonable en'nes upon and ,"speclions oj the Property.
<br />provided that Lr'Xler shall gtve a..r:r-er noti<.-e prior to any such Inspection specitying reasonable ,.use therefor
<br />related to Leader', imerest in the Property.
<br />9. C .. ........... The ~ of any award or chum for damago., dl~'1 or coo-sequenuaJ. to l;.'onnection with
<br />..oy eottdemnatlOC or othe< tUinS of the Property, or part thereof. or for conveyan,,,, '" heu of ,'ondemnation. are
<br />"-by usiaMd and ,hall be paid to Lender. subjeCl to Ihe terms of any mortgage. deed "t 'ruM or other ,",cumy agree,
<br />ment wttb a lien ...bodl has pnorilY over tlm Deed of Tru;[.
<br />.e. a.n.- I'I4Il ......, F.......... By !All" Not a Wais.... Exten"on "j the lime fl>r payment ,)[
<br />modlfieation of amortfutiOl1 of lhe wm, seeured by Ih.. Deed of Trust granted bs Lender to any ,u,',..,,,or m inlerest of
<br />Ilartowcr ihal! lIO( operate to fll",-, In any manner. Ihe Itabihly of Ihe ongmal 80,.,..,,,,,, and BOtTo"er" succ..."rs '"
<br />intcn;it. l.AMcr .WlIO( be "'4lUndlo ron"nence proceed,nll> a8aiM! such .sUC,'tSSOf or retuse tl> e"end ,ime "If pav'
<br />nlPt or ~ modify _itallOn of the ,utla _ured bv th.. Deed of Trust bv ...a,on 01 ans demand made bv Ihe
<br />oriaiaal8orrowu and ~'. ......~Q.. In tnl"reu, Any. forbeara...:e bs l.xnd~r '" e.<rc",~g any "ght or remedy
<br />llcrwa4et. or otbenriM lllfonkd by .appli.:.bIe l~... .nail 001 be 4 ..al'er of or pr""jude lhe e..re". .'1 .n' .,uch nghl ur
<br />~f'
<br />II, s..-.. ..... MI/pI --., JoiDt ..II s....-.u Uabllit;n C"...lp~B, I"" <"".u,,,," "oJ .greements
<br />~ (on.UU:M;d. l.b.a.U bind:. -AM l-ne riebb hc::f-eund<< j.haU tnu~ tn, the rt~.peCh\it \U~'(\"'I.~Uf\ ;HK! "\-M~tU ,'l-{ lA-"nde'f.and
<br />~. '-ub)t;'<1 to- the. pt"(W-<<,UI,)l'\1- iJ-f p;a.ratfr-lSp" II> hif'f<<,f AU >;'"'"()'J,'l'naJu,\ -itnd .lgrt:''Cmem\- _.'I a.:~t't}w'Ct ,h,dl bot:' IUtnl .and
<br />~"aL "D~ ~ wh<t{:{}""Hj;n~{tu~ (~(1f' Tru'i<t, tMJ.! d~_lJ(:\ !11}l "\.~..'tU~the !'\Htc, {~il'\.'\'~"l!tmn~ {hi, l~ of Tru-r.t
<br />\J{\iy h}Jf.lnt.tnd (:on,,'f.') th,at; Burtl',J*ct ~ \tltttt:'!iIl fh th.e P-nJPf'rt~ !-<! T"l;lJ',,-h'1;.' undn rhf" H"r'fth ,:d !tu' t)C-~d ~1t lnl\-'- thl i"
<br />
|