|
<br />84 - 003432
<br />
<br />t '"<,, (lU"'1 CmnN.\NI:-i HOfl"IWl..'t ,ifH.I Lem.ler ~flVCll:lnt :uld agree a~ follows:
<br />
<br />I. V1'Y~C~lt. of ,_"'ri~l'ipal and Infe-fest. B~\fTOWCr ",h;JlI promptly pay \\-'hen dw: the prlOdpat o( and inlere,t (lit the-
<br />HH.h hk~!l\~'''' cVlltcnccd bY(,lhe N(itC. prcraymenl find Ltll' dHlrgclI as provided in the Note, and the principal of lInd interest
<br />(Ill ,w\' FlliHl"-' \(h-.Inct.'~ '>CClIfl.-'O;'V tht.. f)n'd nf"J nht.
<br />i. Fund~ for Tax:es and ~"siirant:e. Subject to applicable law or 10 a wriUf'n waiver by Lender, Borrower shall .pay
<br />lu 1 ender Ill! ihc d;:f mOnlhly H1..lallmcllh of pnnl.,'lpal and interc.., arc payable under the Note, until the Nute is paid-In-,full.
<br />a sum fh~rcHl "Funds") N-jlwl 10 one~lwelflh ll,f !he yearly ta_"fS and aSSC'ismcnts which may auain priority, 'over', this
<br />Deed {if 1 HI"'!. illld y.found ft;nls on the l)rnperty.1f any, pIll'> {lllc-{\",elflh of yc~rly premium installments. for-hazard insurance.
<br />plu.. onc-_Iwelfth of YC:lrly premium lnstallmen'-~ fur rnort!?age insurance. jf any. ;1I1 as reasonably estirnah:d initially-and from
<br />ttme Ip time hy Lender on the hasis of a'\scssmenl, and bIlls and reasonable estimates thereof.
<br />fhe Fund... "hall be held in an institution the deno"it<> or ~1':COllnts o( which are jnS:lired or rmarantee'd bv a Fedi!rilr:-oi;-
<br />..[ill.C agency (lIl~'ltJding. l.ender If Lender is <;uch an il;stilutioo,. Lemler 'S~alf apply the-Funds to ~pay said tar.es; a_~~!\..~:mc~nL
<br />m"illf.nln, pr<::'OlIlIIH\ and grnunu fen Is. Ltuocr may not charge [or ~O 1'U)fdtng ;md applying the Funds, analyzing.sai_d-ae<.:~u_r:at
<br />(lr '.'1.~nfying and (ompilmg ;;,ud a~..e...smenls and bills. llnlel;,\ l.ender j1ays Borrower interest on the Funds ;:tnd-applicabJ~,'law
<br />pcrmH'> I clllkr [,1 make <,uch a charg.: Borrower ;lnd l.ender rl1ay agree III writing at lhe time of executioo_ Of::,th18
<br />I)c(,'d (If TIlI;,;r, 11I;1! inler.:'" fH~ fh(~ Fund" "h.dl b(' paId 10 Borrower, and tlnlc.:;.. slIch agreement is made or applicable"law
<br />rt:qwr(''i .,tll:h mkrcsl 1.1 be ,WII.l Lender ...hall Ilol he required to pay Borrower any Interest or ciunings on the Fund~. .Lender
<br />.,hall give,. In BnnnWt'L \l,lnhl:lllf ~.:hJrgc. an :.lIHHI<l1 :\cclIonting of Ihe FHnd'i. ..howlIlg credits anti dchits' to the Funds and the
<br />purpO'iC lor which e.a~h dehu to lhe Fund.;; I.I/JS: made. The Funds arc pledged as additional security- for' the -sumsf.5ecure(F
<br />h.,. IhlS- Deed <ll "' ru")L
<br />It Ihe ;HlHHmt I,r Ihe Fond... l1dd In Lcnder, tnr,cthcr \lo<jrh the Injure monthly in'itallments of Funds payable prior to
<br />Ih~. dll~ dilll.""'1it :,'1\1.7<;. ,l...$~....,'-,mcnf". Insurance premium" and ground rcotli, I,halJ exceed the amount required to'pay said'faKes.
<br />d...~C\"nH.'nh, iI1SUr:111U.' jlrL'l1ltlllll... and f:!.wund rL'llh :1'0 they I<lJI dllC. :-.tlch C\Ct~~S ~halJ he. at Borrower's option, either
<br />prnmrlly repard hI BnrnH\'t~r or ;,:rcdttcd 1<1 Horro\\'t:r on !llonthly Installments of Fund_... If the amount of the Funds
<br />held h~ I :.'ndcr ...hall frOI hI.:' SUllil.;lcnt III pay l:I'I:('S. a'iscs<;rncnls. lo"urance premiums and ground rents as they fall due.
<br />Borr{)wcr .,b:1I1 P;\Y tll J ,cndcr ill1~' amount nc.:c-ssnry !n rnakc up the- deficiency within 30 days (rom the date notice is mailed
<br />by Lender to Bormwcr requesting paymenl thereof.
<br />Upon P;IVflWI11 In 11111 of all Slim'. "cellred b\- thl1> Deed nl Tru'\.l. Lender shall promptly refund 10 Borrower any FlIn~s
<br />held by r cnder If onder paragrarh ):-: hereof th'..' ProperlY 1\ sold (II' fhe Property IS Olherwise acquired by Lcnd_er. lender
<br />~hall apph. Ill) LtlL'r than lmmC'diatclv pnor III Ihe ..,.tl~ nl Ihc Propeny or ilS acquisillOIl by -Lender, any -Funds held by
<br />1 eoder at the tlme of application :1.'0 a credit against Ihe sum..; ~ecurcd by this Deed of Trust.
<br />3. Applicalion of P9)"men.s. UlIh:,-;s appllcahle j"..\ ~'rovldcs olher\\'lsc. ail payments received by Lender- under the
<br />~n(c and rHr~tf!ri1ph" I tlnd 2 hereof shall he upplted hy 1.(~l1der fir~t 111 payml!111 of amounts payable to Lender by Borrower
<br />onder p3r~lgr.aph 2 hereof. thell to inlcn.''.f payable- on lhl: NOll" then It. the prinCipal of the Note. and then to interest and
<br />pnnClpi11 on allY FULure Advances,
<br />4. Chu'lles; Liens, Borrower "hall pay all 1:'-1\':'0, :'1.'.5" ."nl" .1I1d nlhcr i.:hargcs, fines and llnpositions atrributable -to
<br />the ProperlY which may ~l!lalO ;} pnonI): over thi~ Deed ("If . .ist. and leasehold payments or ground rents. jf any, in -the
<br />manner provided under paragraph 2 hereoi or, it rWI r:lid ill <.;UL:h manner. by Borrower makmg payment. when due. directly
<br />to the payee Ihereof. Borrower shall promplJy t'llflll~h 10 I,cnut'r all ilOtJCC;' of ..i!nounl"~ duc LInder lhis paragraph. and in the
<br />evenl Borrower Sh.ll! make payment de. .j1/. B(lrn.mt'r <~h~dj promptly furnl\h t~1 Lender receipts eviJem:ing such payments.
<br />Borrower "hall prnmplly di':i\.'hargc <10\- lit'n Whli..'h hit" pflori!,- (l\'~r tlw, Decd 01 I nl't~ provided. that 13nrrowcr shall not be
<br />reqllln:J td di...charge ;Joy '>.w.:h liell '0,' l"ll~ .1"- B~)lll'\~Cr ..hail il.:;II:e 1~1 ,,- t i1H1j! hi Ih~ p~ymcnl of [he obhg;:llion secured by
<br />'ouch lien Ifl a manner '1,--c~plab/t;: {II tender. PI :.h..dl nl !::\IOJ L:jth ;,U!,:b lien bv, (If defend t:nfon:c01cllf of slIch lien in.
<br />kgitJ Pf(h.''':COtng, v,.:hJch openHC In prnLIH tho: ":lll(lrc~mt"lll il( Ihe nr ftJrh.:lW'H: ,}f {he Propeny or uny part thereof.
<br />:.. llazard In~uranct'. B-orro\\L'J 'ihaH keep the IInpro\'l.'meill~ llll\V c\i~llI1g or hcrci.iflcr I.'reeled on the Property insured
<br />:lgaim-! 10;,::> In fir1.:, ll.tl;l[(.h Iil..:lnJcd ....lthm the r'.:rnl 'nlt:nd~d ,\lId 'i.l!\.:h lIther h.:1Z;:lrd... as Lender may require
<br />;md 111 ~tl<._:h ;lfllOl11llS and fnr '.tH.:!! pCf!od" iJ', I L'nd~r rtyum:: that I.entkr shall nN reqUire !hal the llmount of
<br />C'.lKh CQ\'Nagc t\,:t:.'CU Ih:ti :tm,)unl l't ,-'ll\'~!.lga: f<) p,/\- 'il!ln.. "L'LlIred by lhiS DeeJ of Trust.
<br />l'he in"Urhll(\' ..-Mrlef prn\lding lill..' ilhlif.lIl,'C h1.' l!W...t:fI h Horn';\\'er SUhjt:CI to approv,d hy i,cnder: providet.L
<br />thaI such approval shail not hI.' unrc,'''t1Ilably ~\-lthh~jd All prcflllUll1,> on IO':>lHatli.:e pollcics shuli be paid in the manner
<br />pn..wided under paragrapb .2 hereoi 01. it t1;.H paH.l in .,ut:h nlJ:IH1t;-:l". b\ Borrower making payment, \'<nen due, dir.;:ctly to the
<br />lilsurance carner.
<br />f\H In.,ura!ll.l.: pllilr.:l1.'\ .Hld r::nc,,".d., lht:;l.:ol "h'1H h... 1'1 hi1"lH ,kL.~Tl.lhk (;> 1 e-ndl.:r ;',no ..haillndudc a s-!andard mortgage
<br />L.!;tuse Hi {av,H of and Hl !tmH .:..:....<.'puh!:.:: W I. 1..' ndcl l t'n.h.'! "b;lll t1.ht.: file: !;!!hl !.tl lh)ld {h~ PO!J-':lCS .IOU rCIlt.:v.-,t!s thereoF.
<br />and BOfWHt,:1 ...hall pr~~mpily lurnish III 1. L~n.j1.'r ,di r,,:rli:\~,d ,!i.l!k-(,~ olr;J ill! r..:..~~p[S \',f ,1d!d prtmlllnl'). III the evenl ('If loss,
<br />Borruwer ..,hall give pr;')lllpt lhlll........ [.1 dw 11l~lll.Ji\<.'-: -, 0(1! 1\:1 .lihl I...:lkkr [r..'n,kr HI,I}' rrlClt...C pI l.t)f of los.. I t !HI! made promptly
<br />hv Borrower
<br />~ Unless I t.~rJd<':1 and B,J[mv.r..:r 11\h;:J\\-j~~ fl", \~il!;l\g. ;r;...U!<i!llt' pl.-,"-~t.:d;, ...h:_dj be :'lpphed hl rr;;,toraiion or repair of
<br />the f'wpcrty dCltilag:\'J. pr,Hi-Lkd ~th"h v, i',:pd:r I'. .:\_"'lh1flll....dl) h:,hlb!..: .dH.1 the '.Ct.:llrity of thl" Deed l'lf Trusl is
<br />!lO! thereby impi:lIrcd. It .;,u..'h n::')T\1Ialll1l\ nr il.:palr h i1I.-H e":,-'H<.iIl)lo..:;lilj k.hitk df H the \"'LuriIY ~ll thi... Oeed of Trusl would
<br />be lmpaifc,j, the- ii1sl.irJ."...~ Phh':C;':J,:;. ;>h"n DE app:Ji.'d to ft.,. -;.:-..d:':.:d n\- lhi" DCl::U ot Tru':.t. Vdth the ~'-..:es<;. If any, paid
<br />10 BOrrO\;{icr:- 1f l.hc Property IS ;!b,HHI,Hl.:d O} BOJr'-HNCr, ,>I jj,l[iL-l,..er,t:,llh hJ l::\p(\f}(j to LcnJ::r \'.ithm 30 days from the
<br />d..tc nalKe 1:S m.-i1JcLi bv Lender hJ Buf('o....er th,u the ;1l';i.lf.lIh.-\: ;.",Hller Ink!':'. to scule a ...-I.om for 111\Ulanu.: bene-filS. Lender
<br />io.; authorized to >':\JJlcct" and apply the- inSUCalKl: pruceco:... :11 l.c-nJcr's ,.ption t:l!hcr rt) rC:.I\.\[i1l!Oll or repair o! the Propeny
<br />or to the sums s('{;ure-d by thls Deed of Tru,d.
<br />Unless Lender and Bornm-er olhcr\\1SI.: ~grcc III wWlng, .W) ~lIch apptil.:;uion ,H pro.::eeds to pnm:lp,t! shaH nol extend
<br />~'lr po:!'>tponc the due dat~ of the monthly In''Ial1m~llh relcrrl',] 1\-, lIi paragraphs I and :!. hereof or change the amount (11
<br />.:u:~!:. ~~;~!:::!~~:'::~'~ If '-H1d<:"r n:':-"i"t"~H1h 1..: l-,('r'~"11 :he P.._-.....".:~f' ... dJllr.;>d h... t (>nrl('r :.11 r1.:!hi f!llp- and Jnl!'(t',r ('If Rnra'Wf'r
<br />in and to any in",urance pohcli:s :;od in .!f1J h1 the pro~(-~ds ihen.'nl'rcsultw'g lrorn damagc- w the ProperlY prior to the salt.:
<br />or acyl.1iSHIOn :-.hall pass tll lender to the c.\.tent u! the smHS ;,c,,;ureu by lhis Deed ot Tru~: immediately prior lo slIch :-.ale or
<br />acquisition,
<br />6. Presenat!on and l\1aintenauce of Prop~rtJ; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />"hall keep the Property in gund n,:pdlr and ",hall nor commit 'I-\, ;j~I<.: I)r pl:rHlil llnp.til"1I1(;ili: ~Il delcriorali-('Il of the Property
<br />and shall comply with the provisions of any lease if this Deed (,If Trust i:, on a 1easchold_ If thi), Deed of Trus[ is on a unit in a
<br />condominium or it planned unit development, Borrower shail pctform ail t-,f Borrowcr"s ohligallOn') under the decl~lration
<br />or covenants creating or governing the condominium or pianned unit dc:velopmt:nt, the by-laws ~md reguiation~ ot the
<br />condominium or planned unIt Jevelopment, and constituent d-\..l,,;umcnb. If a condominium ur planned unit developmei\t
<br />rider is executed by Borrower and recorJed together wHh this Deed of TnJ.sl, the covenants. and agreements of such r!der
<br />shall be incorporated into and shall amend llnd supplement the covenants and agreements of tOIS Deed or Trust as. If the ndcl'
<br />were a part hereof.
<br />7. Protection of Lender's Securit)', If BOH(,)WCr fails to perform rhe co\cnants anJ agreemcnb c(intaincd in thi'i
<br />Deed of Trust, or if any action Of prucecding is ..:ommeni.:cd which materiJlly alTects LenJer\ interc,')l in the Properly.
<br />including, but not limited to, eminent domain, insolvency. code enforcement, or ;!rr<!.ngcmcms l)f pnKe\"'ding~ involving a
<br />bankrupt or decedent, [hen Lender at Lender's option, upon notice to Bonowcr, may make sllch appcnr..wl..:es. Jisbur~e .such
<br />sums and take :such action as is necessary to protect Lender's jntcr~st. illL'luding, hut not limited tel, disbur~c-mcnl d
<br />reasonable attorney's fees and entry lIpon the Property to make repairs. ff Lender reyuircd mortgage :nSUnll1\:C :1" a
<br />condition of making the Joan secured by this Oeed of Trust. Borrower shall pay the premiums required 10 maintain ~tl('h
<br />IMurancc in effect until such time a.s the requirement for :such insurance tcrminalC!. in ;l\;::.:orJJoce with B;:lrn:m-'cr's ~ll1J
<br />Lender's wriUen agreemeot or applicable Jaw, Borrower shall pay Ihe J,Inount of ,tli lTIortgOlgC in~uran~~ premjul1l~ in lhc
<br />manner provided under paragraph 2 hereof.
<br />Any lunoufits disbursed hy Lender pursuant 1-0 thiS paragraph 7, with in1.Clcst therc,)Il. Sb~IH h-c~omc aJdll!on;t!
<br />indcbtednes!; of Borrower secured hy thi~ Deed of Trost. Unless Borrower and Lender agree to other terms -.'{ payn)cnt, weh
<br />amo-unts shuH he payable tlpon norlce from l.ender (~) Borrower rC..jues.tiog pllymcm thereof, and shall he.ll interest frt.:m1 ihl'
<br />date of dbbursement at the rate payable from time to time un ollhlanding prin:.:ipal under the ~Oic unless pJ.ymcnt of inh::re:-.t
<br />at wch rate would be ;.:ontrary to applicable law, in whH:"h event stich aOlDl,lr.ts ...h;.-il' he_ar H1[efl~sl ,It Ihc highest nHt'
<br />~fOliss..iblc unuer applicable law. Nothing contained in Ihh p~Hi!graph 7 "hill: r,-~4un~ l.cnd,~r !,~ Hll~ur ;lny ('.~pcn:)c Dr ta\...("
<br />any action hCfC-und(;lr.
<br />~ 8. IlUpenlon. 1 ,cnder ma.y ntah. Of 1.,1W,e tn be made H'<t-;.onabfc f:_nlfl("S ilfH.Il1 .'HId
<br />thai l.co_d-e:r ;-;h,~ll .give f.kJrr,)wer noti.;:;-e priDr to any ~lH:h insf":t::titm ;;flC.;;d}ing rea:-"<lllabh: ~"HI'.~
<br />llllcre'ooi 10 the }I'ri)f'efty
<br />
<br />
<br />
|