|
<br />I
<br />
<br />L
<br />
<br />I
<br />
<br />84 ~<r 002654
<br />
<br />UNIFORM COVENANTS Borrower and l.ender covenant and agree as follows'
<br />
<br />1.. Pllylllent of Principal and Interest. Borrower shall promptly pay when due the principal of and infere...' on lhe
<br />indebted"e~ cviden-red by ,he Not.e. prep!'ymen! and !.a!e charges as provided in the Note, <:nd lhe principal of and interesf
<br />on any Future Advances !ieCHred by thls Deed of T rtlsl
<br />2. ..... f. Tu:.. ..... ,.......~. Subject to applic-ahle law or to a wrilfen waiver hy Lender, Borrower shall pay
<br />to Lender on fhe day monthly installments of princIpal and mlercst are payable under the ~OIC. until the NOh,' i5 paid in full.
<br />a sum (her-ein "Funds") equal to one-twelfth of the yearl:r taxes and it\se'\smcnts which may attain prtorilY over this
<br />Deed of Trust, and ground rents on the Property. if any. pht!' om~.twclfth of yearly premlllm installmcntii (or ha7.ard insurancC'.
<br />plus one-twelfth of yearly premium instaHment!i for mortgage insurance, ~f any, all as reasonably est/maled inilially and from
<br />time to time by Lender on the bliS!i.of ~mcfits and bins and reasonable e~timates. ihcreof
<br />The Funds ~hall be held in an InsrihHion the deposits or accounts of which are Insured or guar;mteed hy a Fcderal Of
<br />state agency Cinduding Lender if Lender is such an in~tjtuhOfl). Lender shaH apply the Ftlnd~ to pay said taxes. as.;t"'i~mcn'!i.
<br />Insurance premiums and gn"'lund rents, Lender may not charge for so holdwg and applying the Fnnds. analYl'mg sa III account
<br />or verifying and compiling said assessments and hills. unless Lender pays Borrower intcre'it on the Funds amI applicable la"'-
<br />permits I.ender to make ..neh ,I charge. Borrower and Lender may J.grcc in wnting 4lt the lllTh.' of cu'cUlion or lhis
<br />Deed of Trust that infefl~sr on the Funds shaH be paId to Borrower, and unleslt such agreement i~ made or ;ipplicablc law
<br />require., such mterest to he paid. Lender shall nOf be reqUIred 10 pay Borrower any lnterc..r or carnin~~ on the Funds.. I.cn~cr
<br />!i:ha!t give to Borr{)wer. Without cha.rge. an annual al.:ctluntmg of the Fundo,; showtllg credIts and dchll:!i to the FUrluS ami the
<br />purpose for which each debit to the Funds. was made. The Funds are pledged as additional security for the sums secured
<br />by tblS Deed of 1'"",
<br />If the amount of the hmd.s held by Lender. together w'lh the future monthly imtaHmeng of Funds paYilhlc prior w
<br />the due dates of ta-xe..... ,tssessment'i, Insurance premium.. and ground rents, shall c"t:ecd the amount r~qlllrcd 10 pay said laJi.cs,
<br />assessments, insurance premlum~ and ground rents ~l\ the\-' lall due, such C'\ce~s !'>halt he, at Borrower's t)plion, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount- fif the' Fundl\
<br />held hy Lender shall not he sufficrent 10 pay l.axes. as.'>Cssments, ins-ura':lcc premiums and ground rent, as they faU .due.
<br />Borrower shall pay 10 Lender a~y amoun' necessary 10 make up rhe deficiency WIth," 3-0 days from the dare notice is rt11i'!led
<br />by tender to- 9on"O'.rCf :-cq..~;ng pay-;m-n: thc.-cv.f.
<br />Upon payment in futi of aU sums. secured b~' thlli Deed 01 Trust., I coder shall promptly rdund to Borrower any Ftinds
<br />held by Lender. If tinder paragraph I g hereof the Property 1<;' ..old or the Property IS OIhcrwlsc acquired by I.ender, Lender
<br />shall apply, n~ laler than immediately prIOr to the s.ate of the Property or ~lS acquisHion by Lendc-r, any Funds held by
<br />Lender at the time of application as a credit against the sums ~C~lJred hj' this. Deed of Trust
<br />3. A"unlioft of Pay_nil. Unles.'i applicable law PllWldcs otherWIse, all payment, recewed by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be app-hed by Lendcr first In payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof. then 10 intefe:,>! payable on Ihe Nllte. Ihen to the princIpal of the NOle. and then to interest and
<br />principal 00 any Future Advances:.
<br />4. ChlllJft; 1.Je... Borrower shall pay OIl! t.;lW",-. .1ss.eSSfilcnt.. and pi her charges, fines. and ImpOSItions <luributablc hl
<br />the Property which may ~Htam a pnonty over this Deed of T(u~t. and leasehold paymenls or ground rents, if any. in the
<br />manner provided under paragraph 2 hereof Of, if not pajd in sllch manner. by Borrower making paymenf, when due. directly
<br />10 (be payee thereoL Borrower ~haJl promptly furnish 10 l cuder aU notices of amollnt~ due under t~i-s paragraph. and in.the
<br />event Borrower shali make payment dlIcctly. Borrower <;,haH promptly f IIrnlsh In Lender recclpts eVldcncl!lg sllch payments.
<br />Borrower shaH promptiy dliChar~c any hen wn:-ch has pfl-Hfi!\- .)\t;'f this Deed of Trost; pru\lldcd. lhat HOfftlWCf sh-aU not he
<br />reqUired lo discharge any such hen !oo inn)l: ,1\ BorrnWl'f "haH ,.greC" In wflling It) the payment of the ohltgatum secured by
<br />'iuch ben to a manner aCi..--eptahle In Lender, Dr shall HI good f.uth conlc...t sllch lien by, or tide-no cnf'orccment of such lien in.
<br />legal pruceedjng~ which ope-rate 10 prevenl the cohm:cmcnt {I! the hen or forfeiture (\f the Property or any part thereof.
<br />5. nu.nt l...u.u, Horro\%'cf o;haU ~eep (he fmprovemenh now elllslIng or hCre-"dfter erected on Ihe Property insllred
<br />against iO$! by fire. halard.s mduocd withm the term .'~'-Icoded (uverage", and SUdl other hazanJ:<. as L~ndcr may. require
<br />and In :i-uch amounts and for s.uch: peflods a.llo Lentk:1' may re-qulf('; provHlcu. that Lender shaH not require that the amount of
<br />slich coverage- ex.ceed that amount of coverage ft"qwred I(i pay lhe sums secure(( by this Deed of Trus-t.
<br />The insurance carner proViding Ihe IOsu.raf1~e ...hall be cho..en hy Uorrowcr stlb-,jct.t In apPfov~~1 hy I t::otfcr: J)fovldetl~
<br />that sudJ approvai shaH not he unrc-ouonabfy withheld. All premiums Com lIlSlirancC policies shall he paid in the. manner
<br />provided under pataaraph :. hereof or. if not pa~d 10 ~u~h manDt-f, O}' Harrower making payment, when due~ UlrectJy lo the
<br />io.uraoce carrier,
<br />AU insurance pollcie~ .and reMwals there.ot ~haH be In [-t"fm a":';:t,'ptab-t-e t-o Lemler and shall include il .$talldard mortgage-
<br />d.use in favor 01 and in h)fm ac-ceptahle to t.en-del l.t:nt.ler ~hilU have fhe fight to hold the policit."S and renewals thereof,
<br />and Borf-UWCC shaH pwmplly furnish to tender all re;ftt:",*a! nolu;;cs ijrld .'\11 fc-ccipt-s of P';I!J premiums. In the event of loss.
<br />Borrower shan gl\te plvmpt notlc:e to fhe m$unvu;c (,~<:r"er ;loll Lender. I,.enJcr may make proof of ios... it not made promptly
<br />by Borrower.
<br />Unlei..'!i Lender and Borrower othe-fwl-,'\e .t.grcc In wflling. In~UHi.n~C phxe-eds ~hall bt:: apphed Iv r~~wralioo or repair of
<br />the Property damaged, pr.....\ii-ded such re~'olatIOll or repair I' C\,:tHlOfHlCIIHy fCilsible .lnd the ~c-.;urity l)[ this Deed Qf Tmst is
<br />oot thereby Impaired. If su..:h restoration -Of rcpilH ", 001 eCl)nVml~aHj' fe.aMble t)1" If the ~(':Uflly of thi!>' lked or Trust would
<br />be Impaired, the HlSUnJl1.:cproceedli ~hall be applied 10 the loU!ltS sC-i.:ured by this Deed.of Trust. with the e~~-c~,,", if any, paid
<br />IQ BorHlwer. If the p!\"petty IS abatldon~d b)l BOfluwcr, 01 If ROlft.lWCr f;lIb to rc:s-Pfmd to Lender withm 30 days from th\;
<br />date n()h~c l~ maned by lender 10 BOflO\l,-er that fhe iO')UTam;c ,~rt'ler otTers to sCHle a daml for jn~lIranct;: tx~n~tils. Lender
<br />is a.uthonzed to ('\.ll!c-,.:1 and apply the lUsm<).J\Ct" prt)\.~ed:'l! .11 l.cn.~r"s ;..lplt-oO clther to rCMQraliOn or repair of the Property
<br />or to the sunb sc~urt;i.J OV thl.'!> Deed of TOI$t.
<br />Unless Lender and 801f(lwer otherwIse iJ.gr~c 11\ wrHmg, .WS ~uch applrt:utlon uf procccd~ to prtu\:ipal ..hall not extend
<br />or postpone the due date of the monthl~' In.'>laHmcnb rCfCff(;d 1(1 In rar.lgraphs i i.!l1d 2. herci.?f or ("h~nge the af'ntlunl 01
<br />~uch mstaUm-:nb. If under paragraph! S herCt.lt the Pr()put~ i\ .1~qUHCd b~ Lcndet, all nght. hUe and !flterc~t of Borrower
<br />10 and to .an} H1MHatH:,~ POhl.:IC::' ,wd In ano ,'" rhe- pro...ecu:, thCfC<JI rc.)uliing lrom dam..ge 10 the Property prior 10 the .\alc
<br />or a(;.q.u~:;'ltlon ~hi.lil p.u..... 10 t .enJcr to the C.\lent dt the Olums. :-.c\.wed b~ tIlI:'- De-\.'d ot Tru!.t JnHncdl-"ltcJy prtllf to :'ouch ~ale or
<br />ac-qul.SttJofl.
<br />6~ PfeRn.don and Maiolenance I..-f Pr-ope.rty; Lt-:ilSehold~; CondUUliuiums, Planned lin.. f)ev~loptuenlS. BornJwcr
<br />..haH keep Ihe Propcr1} ~n !!d'lb.l repair un..! "hall Ill}! u)/lll\lll 1.':"I\lC ,'! pl'nnll nl1tl.lIHlICOi \)1' dl.::h:fh1r;lthl{l of thl'" Pn.~pcliy
<br />..lOd s.baH comp.ty With lh-e prl.)\ 1~1vlU of ,H\:>- !ease if th.." Deed i.,f J rl.l."lt I:'> IU, .,l le3."l~hold It rh.."l Deed of Tru~t IS Oil a Unit in i.-I
<br />~ondomlOmm IH .l pIanne-d HOI! dc\duplne-lll, BOnOlA!;f $nalJ ped(\rfn ,ill (;! Borfowcr.~ ohhg:.Hlon~ unuer the dedaratlOn
<br />Of (O\lena.Oh Cfe;,umg oe g-;)\(:Wl:lg the ,.:undofOHtlum lH pLU1flf:d tHII! dt~"'dopmeHl, the hy"law~ ~llHj regulation:'. of lhe
<br />condominIUm ~}l planned unll dc\,ejopmem, and l,.'Ons.tltuenl dO\..Ulncnt',: II '-l ;,;nndonunita:n or planned UlHt dc\clopml.;ot
<br />nder IS e"-e\::ut-ed b~' Bofto\oO.t'r anJ rcc:ordeJ togclher "-"'lit! thl.' ~d ~li I rust. lht~ C:Ovcn;,mt~ .lOJ a.gn:eJHcnh. of sut:h rider
<br />shall t'C Incvr-poratc-d lniO ;lnd "hall amend i;iod s.uppk;nenl ~he ...('\'CB,inl;. ;wJ ...gn:t'mcnts. 0-1 thr;,. Deed .'11 J"fihl ,1'0 If the r!der
<br />were a part hereof
<br />7. Protection .of Leader's Securit,). it l:hHfO\l,-t;"; tal!! tl,l p~rlorm Ihe UH-l'flalHS ,ll1d agH.'cmenh nml"Wll:d in lhi,
<br />Deed ~i Trust, {)f If .aU} ac!.iun Yl pn:x:ccdmg I:' ,",'oml1lcn..:'c-J v.hl-.:h lHaienall} .tfTC~b Lc-fldcr.~ tHtcr~l m lhe- Pr-opert)
<br />HlCl~mi_' but not hmlted to. enUnC!'i1 domalH. inS01\CnCj. ..;,-,..J'C ellfof(Cmcot. Of :Hrang~mcnh t~r pro(ccding~ Inh}hll1g .1
<br />bankrupt ('.It d<<:cdcut, then LeruJcI ;.'it Leader's Optilll1. upon nOlle'lt to Bu-rr~)wcr, Illay 011.11\..;: 'Su\'.:h ~ppe;lf;.lIH.l~$. dj~hm\~ !ouch
<br />sums and lake ~u{:h JKt~on ;)'j. t\ ne-.:e",,-,-ary ~o p,;)ie;:{ Le{1Jcf'~ l~l{t,"le:.i, lfh:luJll1g_ hut lHH lm-lited li\ Jl'..blH'1>dllcnt of
<br />'e-~nab1e alt-Olney',-.. f<<J) ~nd cnuy Up..,}il :ht Pr\.~p\'~ft}' 10 1l1;j\,.c H~p.Hr': If l.~nJ~1 rt"'{wre-d 1l100Itg,lgl,.' Hhl.m:.t1h..t ;1\ it
<br />~nditi-l)fl ~ making (he ioan se,cur~. h). thl':l_ ~J o-f TruM. Bormwcl \haH pa} ltlt': prcnllunh rr:I..fUif'cJ 1'--' fllalOliHll \Ih.:h
<br />ms-utam.'c U1 effect un'H $-u-eh time ~\~ ~he reqUtremcnl lor ::.u~h In"''I.1l.an;,;c tcwlInall''' 111 lll't.'(ndan\:'t' wdn BI,rw\\.C'(... ;111(1
<br />l~r"s wriU~l' lig,t,eeOIeot 1.11 applicable Jaw Borrower sh;:tH PiI) :he ..tlHl.,un( l,r dll owrtgagc- l1l5iUf.;)nl,:C pfl"fniums IP lhl~
<br />mat'UlCt pn,)'vid-ed -unQer paraguph =' heret'}f
<br />Any afOQun-b db-buJ''SC'u h) Lender pursuant lp thiS p,.H;~gr,l!-,h J ">\ Ilh lnft,'tC':.l ~hcn.'l)n. "/,,,dJ ht'\:,'-rnt; a~ldiiltJj'i;li
<br />l~.btcdnt;'S.i 0' &rrowet S'~ur~d h}' thiS Ilecd ~)! TrU:.t t 'hk~\ B'orr(lWCf ,;tnd LenJ~f ;igrce tl' ('ther lnnh ('If p~l~mt-nt. >,w:h
<br />amount.) ib4U be p,ay.blt: tlpon I1DH,,"C from Lt'_nder h} .B~)rrowcr f('4ue:,t1og p;;t)t.mcnt thereof. ;md "hall hl.:M HHt.'ft:.~t (f\,>n, In"
<br />(Ute: of ditbt-Jrsc;-ment at the rate ~y:ahle frorn time to ,f1fnt: \H'l ,,~ul,,-'undlng rnth:!pal under the ~(~J~ potn.. p.aYfllcni t}f InlC~(,50!
<br />.t ~h, fate would be. (',ontnuy h."\ app-tle-ahl-e lito\\', :Il Whl,,"h evenl '>\K.h :iITWUI,i.. ..hail ht.'at Inter-c'.! ;11 !hc h.ghi.~"l rale
<br />petl'nt:l4!b.kt undcn a-pph4'itble fa"",,, N[lth~n~ coot.lIfted H1 :t'u:. p;l!uf.,ap-h 7 ;.ll~H r~4W't-' t.t::nOt"f 10 ,n(\If ,111\ J;.;'i.pe!l:!i-t:' ;'"'r tAh'
<br />my ""uoo lle...._
<br />I. .......1:_, t.end~.-"u)' m~kc -;.-'1' ~;>\.\l'\ie \U be l'Jladc fC;.l,\,'hiJ.bk cnlrl(''' ~q).t'fl ,l.l'i,-i Hhf'cdlcn~ Ptvpt'lt\
<br />::~~~~-b-i!:n:~\:Buftl}'~'~f J\ohct;' pop: hI :!In)' ti-\Kh Ht!lpt:'i.:t,~'n \,pl(~ufpnJ,;: rt'<I\'.'>n,l-bk ""..-\<, 'h,:- ,-:1>'" ,.Lj\~'d I,'
<br />
<br />84-
<br />
<br />002654
<br />
|