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<br />84 --' 003011
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<br />UNfFOltM COVENANTS. Borrower and Lender covenant and agree as follows:
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<br />,I, hy_ of Pri..... .... I_not. Borrower shall promptly pay when due the principal of and inter..t on the
<br />ondebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />On any Future ^dvance.~ secured by this Deed of Trust.
<br />2. .... fer T_ ... 1_. Subjecl to applicable law or to a written waiver by Lender, ~ .hall pay
<br />'0 Lender on 'he day monthly jMtallments or principal and interest are payable under the Note, unrillbe NoIe ispanHn full;
<br />a sum (herein "Funds>>) equal to one-twelftb or the yearly ta... and assessments which may attain priority over th..
<br />Deed of TruSl, and ground renls on the Property, ir any, plus one-twelfth of yearly premium installments for haard insura""",
<br />pi... one-twelfth of yearly premium installments for _rtllatIC insurance, jf any. all as r_ably estimated initially andftOin
<br />time to time by Lender on the bui. of a.....ments and btlls and reasonable estim.res thereof.
<br />The Funds &hall be held in an onstitution the deposits or accounts of which are insured or....rant<<dby a l'or
<br />state agency (includin. Lender if I.ender is such an institution), lender shall apply the Fonds to",y saidta~;
<br />msnranee premiums and ground renK lender may not charge for SO holdin. and applyina the. FUndi,' analyzin,
<br />or verifyin. and compiIin. said _menlS and hilll, unless l.ender pays Borrower in_ on theFtindsand a
<br />permits Lender to make such a charge, Borrower and Lender may aatee in writing at tbe time of ,
<br />Deed 01 TrUll thaI interest on 'he Funds ,hall he pAid 10 Borrower, and un.... such a.reement is made lH'....w
<br />r~qU!m! sl!("h i"tf,'!~-5t to he p;lkt l..(!'mHr shall not ~ required to p:ty Borrower <lny interes:t cr e:~","o:r:thC- _, ,'~,r:'
<br />~hall give to Borrower, without chafJe. an annual accounting of the Funds showin, credits -and debits to,the'.F..~ anP,.-the
<br />purpooe for which each debit to the Funds was made, The Funds are pledpd as additionallKUrity for the'SllIiII wcured
<br />by ,hll Deed of Trust.
<br />If lhe amount of the Funds held by l.ender. logether with the ruture monthly i.....llment.' of Funds..",yable: prior '0
<br />the due dates.of ta.lIts_ ash--yments. Insurance premiums and ground rents. shaJl citceed tbe aQ10unt requid,lo pay:saicI-"~~
<br />auessments, msurance premIUms and ground rents a... Ihey fall due. such excess shall bet a.t. Borro..-er\ OptjOll~, ~_..,
<br />promptly repaid to Borrower or credited to Borrower on monlhly inslallments of Funds, If the amount of IheFiinds
<br />held by Lender shall not be sufficient TO pay taxes. asses.vrtc:nts.., insurance premiums and grouncl -rentl,' .' ttMty f.U. 'd,*
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency Within 30 days from the daite n-otice-is mailed
<br />by Lender 10 Borrower requestiDl paymenl thereof
<br />Upon payment in lull or all .urn. "",cured'" IhlS Deed <)1 Trust. Lender shall promptly refund to Bono_rany FJinds
<br />held by Lender If under paragraph 18 hereor .he Property" ,old or the Property is orherwl1e acquiJed by tender; Lender
<br />~hall apply. no la,.,-r thu immedwcly pnor IO the sale of the Property or its acquisition by Lender. any Funds held by
<br />lender at the time of appJication as a credir against the ~ums secured by [his Deed of Trust.
<br />J, A.....- of ..._... Unless .pplicable I".. prov.des <>therw,se. an payments received by tender under the
<br />"'ote and patalra~hs I and 2 hereof shall be applied by Lender lin' 10 payment of amount. payable to lender bv Borrower
<br />under paragraph .... hereof. tbr:n to interest payable on the Note. then to the principal of the Note. and then to interest and
<br />pnnclpaJ on an}' Future Advances
<br />.. ~ Una Borrower ,hall pa\' all I.iH~, a$;sessmenl\ and o~her charges. fines and impositions attributable to
<br />the Property which milY attam a pnonty over lhl\ Deed nf Trust. and leasehold payments or ground renb. if aftY. in the
<br />manner provKied under p:ar-.graph 2. hercnt or, If not pa.d in such manner, by Borrower matllng paymcn~ when due, diredly
<br />to the paytt thereof. Borrower shan pro}- .,..;JY furnish to Lender aU notices of a..'"DOunl-s due under this parqrapbt and in"the
<br />event Borrower shaJl make payment dlroctJy, Borrower shall promptly (urnlJh to l.end..tr receipll evidencin, such paymentt.
<br />Ilorr.:;.wer malt promptly duchar~ any hen whlCh has pnority over thts ~ of Trust; provided. that 8orro~r shall:'not be
<br />rt'qUl~d [0 diM:'harge any meh hen 'iO long tl'!lt 8oH~-e.r "IhaU agree In \o\'fltmg to the payment of the obit,.llOn accured by
<br />..tKh hen III Ai manner acc-eptable to Lender, or '\hail Hl good hUlh ~ontest ('Ouch hen by, or defend enforcement of such lien in.
<br />i~gal prol.'eeding!o whIch operate': to prevenl tlu: entnn.~ement of the lien ur forfeiture ot the Property or any part thereof.
<br />5. "-'II~. 8ofTOwcf ...haU ~C'e" the :mprovements now e't~tang nr hereafter erected on the Property insured
<br />ag.un!il k"tSl by fire. haurds mdutk-d wlthm the term "e~tendt:1.i coverage", and such ether hazards as lcndu may require
<br />aod m ,!,ouch amount1 and for ,.uch penod$ .1-'\ l.c:ntkr may reqUIre; provuicd~ that Len.xr shaU not tcqulrc that the amount of
<br />'Ouch covera.gt' exceed fhal llQl(lunt of cover..,e reqmred to pft.~' the tum, $Ctured by Ihls Deed of Tmst.
<br />fhe imurancc I:.:llrncr pn.wtdmg th~ H'n.uran\:e ..hall be du)Scn by Borrower subJe-cl to- approvfll by Lend'Cr. provided.
<br />[hat _such approval lhall not he unrea$onabl)' withheld AU prenuums on iMUflUlce pohciea shall be paid in the manner
<br />provided under par.....plI 2 bereol or, If not pilld m 'IKh manner, by Borrower m.kin. payment, when d.... directly tQ the
<br />IDSUrance carrier.
<br />All msuram...-e po-hcfC$ and rcuc-w-al'l ~nereot ~haJl be III {orm iH..'CCptllble to l.eoder And shaJ:i include .. standard mort.aae
<br />dau-se in favor or and in {'oon iacccptabk In Lender I coder '\haU have the ftl-ht to hold tbe policies and rene.ala thueo-i.
<br />and Bofl-owe:r shaU promptly furn~h to Lender .ill renewal noth::e!I iuKi aU n~c<c~plS of paid premium5, [n the event of Iou.
<br />BOf!"QlNef ~t>~ gH"~ ~m~ fifittt:e w !hc: !fei;u-r1,\fK~.e CaHrer .:JnJ Le-ntkr. Lender ma:r in.!;;': pEOOf of loss if riot made pfompti)'
<br />bv BorroW'ef,
<br />.. Unless Lender and 8orl'l:.l-w-er I...lthcrwtsc agree: In 'Wfltlng. ;nsurancc pr<1oC~ ...hall ~ applied to restoration or repair of
<br />the Property damaged. prO'l,tdcd such ~1()raU()n Of re~~f 1<; C<.:Oilomlcilliy fe-ll~lble .lUd the security of lhi-s Deed of Trult i~
<br />not thereby Impalred_ If $U(:h restorahv-n o-r rep.-iT 1'\ nol e-cuflonu\:aHy (eM.ble ()f 11 the $C(,'u.ril'y of' rhis Deed of Trust would
<br />be .mpalred. the 1ll.'iUOtn-.;;e proce,edt ~h.dl be apphed to the ,um~ S<':\:ufed by thl'" need of TruaL. with the, (Xees-1\, if aoy, paid
<br />to Borrower If the Property ," abanJoned hy Bonower, l)r .f I-t-orrowcr {:Hll;; to r-e-spuod 10 Lender within 30 days from the
<br />dale nllth:e i~ mailed by Lender to Borfo....'cr thai the tUiUr...n\:c carner offer1'o to seith: '" da~m for msurance benefits. Le-oder
<br />1$ autfwrlzeU hJ t,,:Qiie\.l ;.tnu applY ih~ Ul~W~rn.;(: prtX:'eeUs at Lender'$ ,,-,pHun (:tth~f W IC$-IQrauon or repair of the Fropeny
<br />Of to the: sum:. St."'Cured by thf~ Deed of Tnl$l.
<br />Unless Lender am! Borrower otherwise agr<< in wflting. aWl" ),u\;h apphcaHon of proceeds to principal shalt not extend
<br />or postpone the due <late 01' the monthly IfbtaUmenb rdcff\."ti to ill p&ragraph~ I and 2 ~reof or change the amount of
<br />'louch Installments.. If under p&J'alTaph I!.; hereut the Propeny I':> ..,qUlfed by Lender, <tH r_8hl. tilJe and IOteresl of Borrower
<br />IR and to any insurance: policies and in and 10 the prt'~.:ee"h. lhere,-)f r~uhlllg from dama,.: to the- Properly prior to the ",ale
<br />(II' llcq~~iltion s.hall pass to l.c:tWC'f to (he ~~t-enl of the SUUH. li.Ct.:un:-d by thiS Deed of Trust lInmedialely prior lO such ",ale or
<br />ac:qulsltIOO.
<br />6. ......._.... __. of Property; le__; Condomi""'-; I'IatuoecI Vail Dev........... Bor",,,<.
<br />'ihaUl.;eep the Pro~r1y Hl g..'K)~ rep41( .wd ..hall 1l1.Jf u>nllHlI \\a~le ,'f f"I.'rtllll mlp;urm~nl (if ..IetcrioratiHn (~f the Pro~rt)'
<br />;\ud shall comply With the pfOV1SlOns of any ~ Ii thts f>eed of or rUM I~ (In a leasehold If th,~ Deed of Trust 1$ un a UOIt In /j
<br />condom;nlum or a planned unH development. Boffl.lWer shall pedmffi all l;lt 8orrower-s obhg&uot\s under the dedarall(~fI
<br />nr CQvenants .:re.aung Of guvcrnmg the COOdOffilOAUOl l'f planned unit developmenl, the by-laws <lnd regulauuns ..,I the
<br />..:~~minium Of plannc-d untt development. and COOi-titLK:nt d(l~,,:umenh If !to ..'ondominlum or planned unIt dcvdopmt.'fll
<br />ruler 11 executed by Borrower aDd recorded IOgether Wllh thl!lo Deed 01 T rU'i.t, the 1,:OVCl1anls and agreements l~l 'i;UL.h flder
<br />~haH be Ifk:OrponHoo lOlo Dnd :shall amend and supplement the I.:I.JVCndnt~ dlh.l :Igrecrnenb of thiS Deed (1t rru1<t as If the nder
<br />were a pan hereof
<br />7. ~.... of l.eader's Sh:uril)'" if 8oflo....er fall!> 10 perform lhe ...OHrUinl:s and agreement.... ..nnIAHlt:d III thl\
<br />Deed of Truat. or If any actton or prOlX\......tmg 1:\ ;.:ommeu..:.ed whICh mafcl'lally affe-Cl~ l.enders lnlef~t III the ProperlY,
<br />mdudln&. bul not limited to, enuncnl doma.tn. illWlvenq, -':0de cnlor..'emcnt. (lr 3fT.lngernenh l)f prl);,;.ceUUl1i'!!< 111'\-;..11\ lUg d
<br />bank.rupt or decedent. then Lender at Lender"s optIOn, upon notfce !o Borrower. may maKe '.\u,h appe.aran;.:(~, ,1!'hHl'>l: ..u;.:h
<br />sums and take ,such action as is rle\."<<Ur) (0 pr...tecI Lender'" lnt('r~(, Hll..-Judlng, hut fHJ! IHmleJ to. ol,bunC:llwlH <'I
<br />r~b-Ie attorney"5 fees and entry upon ,i:he Proper1) 10 make repalf~ I! l.ender reqUIred flwflgagc ItlMH.Hh.C ,=~ .!
<br />I.;OOOltlon of makm& the loao SC\;UfW by lhUt [~ uf Trwot. Borruwer shal! I'd) the prCHllUmS iC4UlfCd h; maintain ~ll;.:h
<br />lI1i:urance in effect until such time ai the: requirement fo:- su\.:h lflSUfafll.':t' lernllnal~ H1 ;h,'(.'on.hw~c Wllh B-onowcl \, .Ilh.l
<br />Lender., written a,greement \}f applicab'e law Dorro","e-r "hall pay the amounl {'I all rn'.H'tgage mSUf;loce prt"I1HlHn.. III lht"
<br />"'an~r provided under para.raph 2 hereof
<br />Any &mOWlU disbuned hy Lender pursuant 10 !his paragraph 7. \\-ltt'! l!llcrC1\-~ Ihen:l.)f'\. \hall hCI.I.me .1..IlillhlH.li
<br />.ndebl'W-ncss o( Borrower ~ured by Ihi.\ r>ec-d of Trust l 'nle~<; 8orro\lrer and I elide! .JSHX h\ other !elm)>, I" pa)'menc "\1,,,11
<br />amounu. shaU he pA.yable upon notice fTV," Lender to &)rw~er re-Quaong pavrnent thereof. and shall hear IUtefe~1 lrom lht!
<br />date of dilbuncment at the rate payat>>e from time 10 time on oUlsJanJlflg prm~lpal under lhe NOle lInle" payment 1.\( lnlerc!>t
<br />.,t such fate *ould he t.::~)nlfary to applJ\::able Ill\\., In whli.:h event "ll_..:h amOl1ll!'~ "haIl he,as ;nlcrt.~! ;\! the hIghest ruM
<br />pcrmillible under applJcable I.,,"', Nothing l:Hntamt..~ III lim. ~faifaph ~hh!: !t"l.1l11re 1 ender !I~ !!ll.:Hr .1il~ e'~'lCnsc nr take
<br />iUly ocli"" huoondel.
<br />.. ...,..,..... l..cndel may make i.)' ~lIU~ tv he made rt'_a~olloitblc ::ntrle~ l!p..Hl aod lI\"'f~dl\.\f!,!.\ III lhe Prvpc.lf\-_ I'hi\l\.kli
<br />fh..t Lc~ shall .ive- 8onowcI nQ!J;;t' fH'I(H tv ilU) men lft!i.po;,;UOfl ~pe~d)'lBg ren(}uahte \:~U'l.C thut-fu:r rel),~ct.i 1,\ i i.'IH,kl ~
<br />tfn-e:fClt in the ProDer1\\
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