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<br />84 - 002657
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<br />{fNlrUR\l COVI-N'Nl'i. B('Irr,1WCr ;lnd I.cndcr covenant and Jgr~c..ls follows:
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<br />1. Payme-nf of I>>rindpal and Inh.'U'st. Btlrrowcr ...hal! promptly pay I,.\. hen du\.' Ihe pnnt:ip;d llf unO InlL'rl.:"{ (In lht.'
<br />ItllkhICUIll"" n ll.iI'IlCI'O by the Note. pll'paymenl and Llh.: charges :1<; [1w\'rded In thl' N(lll', ,!nO the prinl'lr:ji tl! .tntl ;ntcn.:..l
<br />Iln an~ FIIIUfl' .\~h.lI1LL" "c...:urctl hv Ihl'; Den! of 1 fu,1
<br />2. Funds for Ta:r:es and Insurance. Suhject to applicahle law or to a written waiver hy Lender, Borrower shall pay
<br />j{l Lender nil the d,t~ IllllOlhly m,!allmCnh of pnncipal ,lnu IOlcr\.'..., an." payahk tInder the NOle, until the ~Olt: is paid in filiI.
<br />a slim (herein "Funds"') equal 1('1 onc-lwdfth of rhe YCflrly la\('s Jnt! :1"Sl'''...mcnfs which may attain pnority o....er thi...
<br />Dccd of Tru..l. and ground Icnto:; 011 the Property. If any, plus (l~e-Iwclfth ()f yearly premium installment.. for hazard in~urance.
<br />plus one',twelfth of yearly rreOllllnl Installment<; for mort~age In\Urancc, If any. .ill as reasonably estlmated imtlally and from
<br />OOle III lime hy Lender on the hac;is of a...sessments and t'llll" and reasonahle c'ttimatcs thereof.
<br />("he Fund.. "h:11l he held In an mSfil~lti{)n the t..lepo"lt'lor ;ll'cmmt... of whIch are Insured or guaranteed hy a Federal or
<br />"lale agcm:y (Int:lulling !.cnder If Lender '" ,tlch an instltutlon)_ I.ender shall apply Ihe Funds to pay said ta\cs. as...es.c;mcnIS.
<br />In...ur.Hll..'~ pn'nlHlm.. ;Ind ground rent,>. Lender may not l.:harge for so holdIng and applying the Ftmds. analyzing SJld account
<br />l)r \cnfYlnf! and ct\mpilrng \ald a...sc..smenl<;. and hills. unle...", Lender pay... Borrflwcr Inlerest \)n the Funds. and apphcahle la\\,
<br />permlt'i I ...Illlcr !n :nake "uch a charge Borwwcr .1nd Lcnder Illay :1grec In writing at the t.imc of execlItlOn of thi'l
<br />need of Tro"t Ilia! mtt'rc<;,t or: Ih(' FlInd.; ..,hall hl' paId 10 Borrower. and unle,.. "tll.'h ;Igreemcnt I, made or appltcable law
<br />reqwre... :'lIKh Inkre<;,l In he p:lld, l.ender ..h;J!1 no! be r~qlllred 10 pay B{lrrO\~('r any' IOtcrc,.t or earnings on the Funds. lender
<br />~h;JI! f!l\'t.; In Bflrw\\'cr_ Wlth011f lh:lrgc. .10 annual ;}.:collnllng nf lhe Fund" ...hO\~lnf! crcdlls and dehit, to the Fund<; and the
<br />purpose for which each debit 10 Ihe Fund, wt:ls made, The Funds arc pledged as additional security for the sums secured
<br />h\ thIs. Deed of Trust.
<br />If the -amount pf the Funds held hy I.ender. lllgclhcr wllh Ihe fUfure monthly imtallmcnts of Funds payable prior w
<br />The due dalt'S of la\e'i. a""c,smenl,. Insurance prcmium... and ground rent..., .;hall c\Cccd lhe amount required to pay said taxes.
<br />.I\:;.c.....mcn'''. InSllf:ll1Ce prem!\Ii1l\ .lrhJ gr'~ltnd rco'" .1\ !hC"\' I.dl dul', 'lIch c\.cc..... ..,hJII he. 3t Borrower's option, either
<br />prompl!Y rCf1;1ld !p Borro'\"cr l)r credited III jjnrrowt..'r fm month!\' ln~lallm~nl, of Funds If the amOllnl of the Fund~
<br />held h\ Il'ndcr \h:ill not ~1..' \ullicli:nt In P;IY i;i\.C\ as.;e.....mcnl..._ IIl"ur:lOCC premiums .lnd ground rents. as they fall due.
<br />Bnrrnwer \hall n:l\' [I) I,cnder .In'\' 3mOllnl neCC5'i;\r\' !ll make !I!') Ihe ddklcnc\' wllhin 10 da\", frnm the date notice is mailed
<br />by Lender to Borrower requestmg payment thereof
<br />Upon payment in tllll \\1' all ,>um... ...ccored h~ thIS DceJ 01 Tw\1. lender shall prnmptly refund to Borrov;cr any Fund..
<br />held hv 1 ender, If under paragraph IJ.\ hereof the Propen\' 1\ ...old or the Property I'" olherwIse acquired by Lender, Lender
<br />...hall apply. no later lhan Immediate-ly prrt..)r !(\ the "'dle of the ProperlY or It:;. acquiSitIOn by Lender. any Fumls held by
<br />I.ender al the lIme of applicalion a.. a credit agamslthc <.,um.. ...ecured hy thiS Deed of Trust.
<br />3. Applicarion of Payments. Unless applt..:ablc I,tv" proVide.. olherwlse. all paymenls received by Lender under the
<br />~{HC and p:lragrJph<; I and ~ hereof shall he appltcd hv I endcr hr'" 1Il payment of amounts payable to Lender by Borrower
<br />LInder par.lgr.iph 2 hereof, then to mterest payahle on the Nnle. then 10 the pfln~lpnl of the NOIe. and then to iOle-rest and
<br />pnnclpal on ilny Future Advances
<br />4. Chall!:t."s; l.iens. Borrower "ihall p~~' all IJ.\c.... ,l....sessmcnh ~lnd (llhcr ..:hargcs. fincs and Impositions attribut4\ble to
<br />the Property _WhiCh may attain a prioT1ty over .1_~IS Deed (~f Trust. and leasehold payments.or ground rents, if any. in the
<br />manner proVided under paragraph 2 hereof nr. II not raid In such man nee hy Borrower making payment. when due. directly
<br />to the payee Ihereof. Borrower ~hall promptly furlll,h 10 I enuer all nOl1l.:"c\ nf amounts due under this paragraph, and in the
<br />event Borrower shall make payment threetl)', Borrt..w,'cr "hall promptly furnish II) I,cnder receIpts evidenCing such payments.
<br />Borrower shall promptly dl'jcharge a.ny licn \', hlch ha'.> pnoril\ l\\ er thj.., Decd 01 T ru~t; proVided, [hat Borrower shall not be
<br />reqUIred to di\chargc any 'iuch lien '0 jl~ng .1' Borrll\\,cr ,hall ..lgrec !1l 'Hllin!! In the paymenl of the obhgallon secured by
<br />..uch lien In a manner acceptable \l. Lender. M "hZlIl In good faith conle~1 'lIl:h hen oy. or detemJ enforcement of slIch ben in.
<br />legal proceedlOg~ whIch operate !{l pn:vellt lhe erHnrccmcnl llf the hen or fl)rlcltllfc ()f the Property or any pan thereot.
<br />~. Hazard Insurance. Borro\\,cr "hall keep lhe rmpro\lemcnt" \lOW C\I..tIUg (lr hereafter erecled on the Property insured
<br />agamst loo;s by fire. hazards mcluded \\-Ithm the Inm "C",tcnded coverage-.. and 'uch other halanJs as Lender may reqmrc
<br />and In such amounts and for such penods a.. I cnder !Hay reqwre: pro-.'uJecl. rhat Lender shall not -require that the amount of
<br />such coverage e\.ceed !hal amount of (OVer~lgc rcqUlr~d 10 pa\ lhe sum" secured by thiS Deed of Trtlst
<br />The insurance carrier provH.hng the ,",Ujan(\: ..hall be l.'ho...en hy Horn.\\-'cr subject In approval by I.ender: prOVided.
<br />thai such approv<tl shall nO{ he uarea.sc1fHlhly \\Ithhcld. AI! premlUlll~ on ins.ur,m..:c POhCIC$ shall be paid in the manner
<br />prOVided under paragraph]: hereof or. If not pau.l 10 'ouch m<lnner, 0\ Borrower maKing payment. when due, directJy to the
<br />Insurance carrier.
<br />All Insurance pohci~s .tnd renewal!: thercOf ..hall he: III hlffl1 .a.....eptabk h' Lcnder and \hall Include a standard mortgage
<br />clause in favor of and in form acceptable 10 LendC"r I ..:ndcr "hull h;\\c the nght to halll the policies and renewals thereof.
<br />nnd Borro\\cr shall promptly furnish [0 Lender .dl n:llc\\al Hl.)fl\:C" .tnJ ,ill rCI.'ClplS of palJ premrums. In the event of Los!>.
<br />Borrower shall g,lve prompt nOIlC~ to the ll'lSlJr.H1CC eMllef ,1Iid L-:nJt'r Lender m.l}' ma~c proof of loss If not made promptly
<br />by Borrower.
<br />Unles'i Lender and Borrower t..Hhen-\,lsc agree III \~ r1!lflg. !n~ur;jlh:t' pw..;ccds ..,h;jll be .~pphed 10 rc-1>toration or repair of
<br />the Property damage_d, pro,-ided sut;"n n:s,lor;,tll{Hl \)f rep.ur I~ (,l,:\lnoml..:;}ll~ It.'.t\ibk ;lOd the !\ecllrilY (If thiS Oeet.! of Trust 15
<br />not thereby Impaired. If SUl."h reSloratlon or repair I~ rllJt rt:tlOl)nll~ally fcaslhlc \H d the ~t'clirjty of thi.... De-ed of Trust would
<br />be Impaired, the Insuran1.:C pwcecds shall be appli~J to the sum, :5ct.."ured hy thl:. Dc-cd of Trust, wllh the c-\.....Cs.s. If any. paId
<br />to Borrower. If the Property j"\ abandoneJ by Borrower, or If' Uorw\\,er fJlb 10 (~~pond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borro",cr Ihat the- InsUr<WI.'C carner olIen. 10 sclllc J cl~um for IOsurant:e benefits, lender
<br />IS authorized to coned and apply the insurance prot:ceds al Lender's opllOn ell her to reslOratlon or repair of the Propeny
<br />or to the sums se(.~ured by thiS Deed of Trust
<br />Unle-ss Lender and Borrnwer otherwise agree in WCIIlog. .I.ll; su~h applicatIOn L)t proceeds to prinCipal s.hall not ex.tend
<br />or postpone the due date of the monthly installments. reterred r~) In paragraphs. I and "2 hereof or change the amount 01
<br />such installments. If undef par-.\graph IS hereot Ihe Proper!) ~<., acqUired h} Lender,..ill TIght, tide and imerest of Borrower
<br />In and to any Insurance poliCies and 10 and 10 (he prtx:eeds Ihcr~iJf resulllng Irom damage 10 the Property prior to the 53le
<br />or acquisition shall pass. to Lender to the e~tent 01 the sums ~<:cured b)' lhl!!. Deed 01 Trus.1 Immediately pflor to such sale or
<br />acquisition.
<br />6~ Presenatlon and Mlliatenaotc of Pro~rIY; LcaseholdJi; Condominiums; Planned LJnil Developments. Borrower
<br />...hall k.eep [he ProperlY In g\.lOd repair ,ll\d ..hall not ;.:,'mnHt W<iste t..)r permit Imp.moll'nt Ilf Jctcfloration of the Property
<br />and shall compl)' with the proviSIOns of any lea:)e Ii thiS Deed of Tru!>t I~ on a lca~chold_ If thiS Deed of Trust is on a unit in a
<br />condominium or a planned unit development, Born:v",-'cr shall periorm all of Borrower's obligations under the declaration
<br />or covenants creating or go\'ernmg the condomtnium or planned lIntt development. the hy~laws and regulal10ns of lhe
<br />condominium or planned unit de'..eloprnent. and l.'onstltucnt documents. If a l.:ondominium or planned (Inll de\elopmem
<br />rider is exel:utcd by Borrower and recorded together ",ith thiS Deed of Trllsl. the I.:'ovenants and agreements (l( such rider
<br />sban be incorporated into and shall amend and s.upplernent the co\"enants and agreements of this Deed ot Trust as- if the rider
<br />were a part hereof.
<br />7. ProC<<tion ,of lAnde~'s Sc:turily. If Borro\loer falls 10 perf._Hm the covenantS and agrcc,mcnt.. ((lotalned in thi$
<br />Deed of Trust. or If any action or proceeuJllg IS commenced ""hlch mateHally atTcct~ Lender\ mtert:st In Ihe Property,
<br />rncludiogt but not hmltcd to, eminent domam, insolvency, code cnforcemenl, or Ilfrangement'S or proceedings in"'olvlng a
<br />bankrupt or decedent. lh.c.n Lender at Lender's option. upon notice to Borrowc:-r. may make such appearances. di~bursc such
<br />!um$ and take such action as i.s necessary to protec{ Lender's HuereM, includmg, hut nOl limited to. dis.bursement \)!
<br />reasonable attorney's fees and entry upon the Pr-operlY to make repairs If lender required mortgage in~urance lIS a
<br />c-ondition of making the loan secured by this Deed of Trust, Borrower s.hall pay the premiums required to maintam such
<br />IO$urance in effect until such time as the requirement fOf such IOsuran~C' terminale~ In ,u:cordance wllh Borrower's. and
<br />Lend~r'-s wtit.ten agreement or applicable law, Borrower s.hall ray the amount of all mortgage imuran.;e premIUm$. In iht'
<br />manller p<<,..ded under par.araph 2 hereof.
<br />An;- amount!l. di-sburstd by I "coder pursuant 10 Ihls paragraph 7, '" Ilh lntert;~r thereon. ..hall hCt:I.)!11e JddlllOnal
<br />~ In<kbtedn~ of Borrower -sccured hy this Deed of TfU!,1. Unl~s Borrower and Leuuer i1g.ree to other lelms. 01 pa)-menL \uch
<br />;iU1;ountl !1hall be payable upon notice from tender ro Borrower rC4uCsltng payment thereof. ,111d shull bear Interes.t froo" the
<br />date (}f d.hbu....ment at the rate p-il)'ablc from time to ttme on outstanding princip-."\' under the ~Ole unless payment of itllereM
<br />at such rate would be c-ontrary to apphcubie law, in which event ..uch amounl~ ..hall bear Interes! :H the highest rate
<br />pumi$tl~e ltnder applicable IllW, Nothing contained 111 tht~ paragrdph 7 ~h"ll J t:y\.llft: Lender tf> Ini:Uf any (,,,"pense ()( take
<br />allY .~ti()l\ M:teUll<ler.
<br />l. .....dloa. Lender. may make Of C;W~ to he- made rea:o.onahle l."nlrtC\ l.ll-X1O ;tnJ In-.pt.;t.:!lon'l of the Prol--lert\!, fHI1\ ,deLi
<br />tJ\3,~ l.,endt:r ih~tl gh'e BOfTO\\'U n,,"}tke prim to any ~uch ir),f!,pe.::-t:O.f! <t;pet;dymg t(~itS(\ndhk ,\:;:W\c (herdol reLatcd 1~) l t'nJcr ~
<br />'ll""~t ill lilt Pro"",\>
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