|
<br />I
<br />
<br />84 - 005688
<br />
<br />applicablela\\rf<iQl.liresuh jnter~t to be paid, Lender shall not be required to pay Borrower any lnterest or earnings on the !'uMs, LenCler shaH
<br />give to Borrower, wilhout charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each.
<br />debit to the Funds was made, The Funds are pledged as additional security ror tbe sums secured by this Deed of Trust.
<br />If the amount of tbe Funds held by Lender, together with the future monthiy installments of Funds payable prior to the due dates of lUes,
<br />assessments. insurance premiums and ground rents, shall exceed. the amount required to pay sai.d taxes, assessments, insurance premiums and
<br />r groll..'!.d rents as tht-y fa!! dl!e. iwh ~x.cess shaD hr. !It Borrower's opdQnt either promptly repaid to Borrower or credited to Borrower on monthly
<br />I instaUments of Funds. If the amount of tbe Funds Mid hy Lender shall not be sufilCieni to pay taXes, assessments. iru;urance premiUlllS and
<br />ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency wit!un 30 days from the date notice
<br />is mailed by Lender to Borrower requesting payment thereof,
<br />Upe.'1 ~~ m !!ill !!f @ !t!!!!!! sw..!..~ by !hi-~ ~ of TnJ~t I,,,en~ ~ha,1I prgmptly rd!!!!d to BmTo~ ;my Fu!1dS beld -~ ~.. If
<br />under paragraph Jg hereof the Propert)' is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than Immediately
<br />prior to the sale of the Property or its acquisition by Lender. any Funds held by Lender at the time of application as a creditagailllt the sums
<br />secured by this Deed of Trust.
<br />3. AppIlcatiotl of Pa~... Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs I
<br />and 2 bereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under parlI8I'aPh 2 hereof. then to interest
<br />payable on the Note. !htn to. the prioop~" of t~ Nt."1te. %-l!g then 10 interest and principal on any Fut'-U'e Advances-.
<br />4. Clwpa; LIns. Borrower shall pay tJI taxes, assessments and o~her charges, fmes and impositiOIll attributable to the Property wbk:b
<br />may attain a priority over this Deed of Trust. and leasehold payments or ground rents. ir any, in ~hemanner provided under parqraphi hereof
<br />or. if not paid in such manner, by Borrower making payment. when due, directly to the payee thereof. Borrower shall. promptly furnislno
<br />l...ende:r aH notices of amounts due under this paragrapb. and in {he event Borrower shall mai:e payment directiy1 Borrower. shall promptly
<br />rllrnish to Lroder receipts e>idencing s""h payments. Borrowe, shall promptly discharge any lien wllich has priority over !his Deed of Trust;
<br />provided, that Borrower shall not be required to discharge any s""h lien :so long as Borrower shall agree in \uiting to Ibe payment of the
<br />obligation secured by such lien in a manner a=ptable to Under, or ,hall in go<>, : .,., contest such lien by, Ot'defertdenfon:einemof such1lea.
<br />in, legal proceedings which operate to prevent the enfor""",ent ci ;h. hen (}.", :c. "". of the PrOj><rt)..... 8l!Y part thereof,
<br />S. HUII'd lR!Hln.lla'... Borrower shall k<<p the imp;(~...-~tIFnts now ~:i: " or hereafter- erected on the Property- j~u-w-ed ~,"nct ~ by' ri1e~_
<br />hazards induded within tbe I"",, "extended coverage", aM such other hazards as Lender may 'equire~.nd in such amounuawl for such p>:'l1l<ls:
<br />as Lender may requi~; pr",ided. that lender shall not require that the amount of s""h coverage exceed that amount of cov"'- requ!rC<i to lIIlY
<br />rhe sums ,,,,,ured by lhis Deed of Trust,
<br />
<br />I
<br />'-
<br />
<br />The ins..rar~ e&.'"ri~r prO'ii;.1L. ;~ ~mk-~ shall be chosen by 2errov.rer subject to ~";)rOV3.l- by L-~; p.."OYided. that such -ftPl.-~~
<br />,hall not be unreasonably withheld, ."Jl premiwm on iosuran<:<: policies shall be paid in the m8lUlCf provided under _-aph 2 bcrcof or. it' II<lt
<br />paid in ,uch manner, by Borrower making payment, when due. directly to the illlurance carrier,
<br />All insurance policies and renewals lhereof ,hall be in form accept.ble to Lender and shall include a standard trtOrtgajJe cl.atlJe in favor of
<br />and in form accep<able to Lender, Lender shall have lhe right to hold the policies and renewals tbereof, and Borrower sball promplIy I'unIisb to
<br />tender an tenewal nOli"", and all receipts or paul premiumli, In the event of los., Borrower shall give prompt notice 10 the in.suram:ecatrier 8Dd
<br />Lender. Lender may make proof of loss if not madt promptly by Borrow-er.
<br />Unl... Lender 8Dd Borrower otherwise .,... ,n wnting. ",.urance proceed> shall be applied to restoration or repair of tile Property
<br /><latna3ed. provided ,UdJ restoration or repair IS <<:onomically feasible and the security of this Deed of Trust is II<lt thereby impaired. If SlICb
<br />re:nOfl1U:m or repair tS not economiCa.1b" feasibk m If tbe ~'"'Urity l'1-l this Deed of TrU$l would be.i.rnpairc!d~ the insurance. proceeda abalIl>e
<br />applIed to the """" secured by ,IUs Deed of Trust, ""th the exceu. if Mty, paid to Borrower. If the Property is abandoned by Ilom>wer. or if
<br />Borrower fads to respond to Lender within 30 days from the dau notice i. ma.iied by lender to Borrower that the in.suram:e catrier llffen to
<br />>ettle a c!alm ror iusur&Dce _In. lender i. authorized to collect and apply the insurance ptoceeds at Lender's option either to ratoratioD or
<br />fepa:lr of tM Propcrt)" Of to the sums secured by thi$ Deed of Trust.
<br />UnIe!s Lender aDd Borrower o<I>erwi.. _ U1 ..Titin&, any .uch apphcauon of proceeds to principal shall DOl CXlend or posIpone the due
<br />date of the monlhly installments referred to in parqraphs I and 2 hereof or clIltnge lbe amount of such iostallments. If under paraarapb IS
<br />hereof the Pr~y IS acquired by Lender, all right, tjtle and interesl or Borrower in aDd to any insurance policies 8Dd in 8Dd to the pr.-l$
<br />thereof ,.nulling from damaac to the Propmy ptlOr to the sale or ""qui.ition shall pus to Lender to the extent of the.1UIlS secured by !his Deed
<br />of Trust imrnedialely prior to such i< or acquisition,
<br />/), l"I_........ !\blall..... of "'-1Y; IAMoIIoldo; ~ PIauod Ullit On..,.... Borrower sbaIt Iteep the
<br />Property' '" Bood repair and shall not commit w.ute or permit impairment or deterioration of the Property and shall comply with the ~
<br />I>f any. lease If this Deed 01 Trust is on aleudlold, If lb.... Deed of Trust i. on 0 unit in a condominium or a pl.anncd unit ~ ~
<br />shall perfomt all of Borrower', ob!iptions UIl<kr the d<clanltion Of c'OV"'WilS c>'Catin& or &OWfIlina tlle ::ootdominitllll or p\unild unit
<br />development, the by.la.... and rcaulationo of tbe condominium or planned unit devdQpment. and conslitllCllt documeuts. If a COtIdominiwn or
<br />planned unit deveIopmeot rider h executed by Borrower and record<<! IOJother with this Deed of Trust. lhe eo_IS and ~ of such
<br />r~ ~~ ~!~ed lm!' 3.!!d :!.b.a!! ~ ~nrl !!.!r~! L~ <:1JI~t!!...'!rl~!! of thi! ~ !!!'frt_'!!!.! i!th!- ~ ~ I ~rt
<br />hereof.
<br />7. ~ of i.aIier~s SecwkJ. if Borrower fails to pt1'form the covenants and aaree:ments contained in this Deed of Truat. or if my-
<br />....non or proceco:iina IS COI1UI1CDl:ed wtudl malenally &ffC\.-U Lender', IOterest in the Property, including, but not 1imitetlto. eminent dOlllllitt.
<br />Insolvency, code Clllon:emet>t. or orrmaemenu or proceedings IDvolvin!t a banluupt or ~t. thu Lender ..t Lender', option, upon notice
<br />10 }kmowef, mi.} make Mh.--b. ~'"Q. disbur!<' su-:h swns ana taILe such llCtiun lU 11 n<<essary to prot'cct i...endcr's i>>iCRSt, im:iudini, but
<br />_ limited to, <fubw'_t or reasonabk: attorney', rees and entry upon tbe Property to make repairs, If Lender NquiTed ~ inSllflUlCC
<br />.. a condition of maltin: the loan secured by this Deed or Trust, Borrow", shall pay the premiums required to maintain ,uch in'or~ in effect
<br />untt! 3uc.t: time Ai the reqwnment for such insUfl.Ik."1: tt'flniWUC5 in a<:rofdant.~ with Borrower's and Lender.s writtm aar~t or applicable
<br />Ia.., Borrower shall pay the amount or all ~ i"'or"""... premiums in the manner provided under _aph 2 hereof,
<br />Any _.. disbursed by Lender putSWUlt to this _opb 7. with interest thereon. shall ~ additional indebtetllle$$ of Borro.....r
<br /><<cun:d by tlUs Dee<I of Trust, Unleu Borrower and Lender .,r~ to other term. or I*ymellt. such lUl\OUnt$ shall be payable upon notice from
<br />L<n<ler 10 llorto..u rtlQucstina payment thereof, and shall _ Inter..t from the date of d"bursement at the ,ate payable from time to t~ on
<br />'....utandin& ~ under the Note unless payment of intetest at such I1lte would he contrary 10 applicable law, in whicb ....,,1 .uch tltllOUnts
<br />>hail heat inl"'''' '" the iuabat rate perttIUSlble Ull<kr applJ..-able law. NOtblDll (onta.illed '!Ilhis par.,rapb 7 shall require Lender ttI iDe'll' any
<br /><_ Of t..k~ ....y ti'tioIl hereuader.
<br />t. .......... Lm4er ....y make CI< ca_ to be mod< fCll$Onoble entries up.m and itupCctions of the Property, p<<>vided that Lendel' .haI1
<br />VVf' Bon"t'Wtt not~ ~ !(!t ey !lJ('h in...~licn !D'C!!..~hift& reawnab!t: CA!lli': t~!O! rclateU to L~'~ inierel ;n t~ Proe<<h'.
<br />t~ ('I.... T tarn Tbc Ptucceds of uy aw~d t~ ch.lm for dat~. dif('\.'1 (\f \:t-'m~.::umtia.!. 1n .:\.mnectio.n '4'1th it;l)' ..~demnaUon Qr
<br />('{Del lU;in,ut {he Pf'Upert,;. Of p&ft tbeteuf. tW' fQf (."Otl"eyafJ:Cf Hllit'u or condmuWlt}OU, art hereby a.willCd and 5ha11 t)e ~'\ai-u to L('ud~.r.
<br />In 1M -cVftlt of a t.otal tWill of tbt- Prupctty. the fKoc-c<<b \hall be: awl~ to lhe ~lH:h,S 't<<urro by {hi,; l.)crocd 'of Trust, ~uh the ('X\."eS.!., If any,
<br />~ to Ik'wf~, In: t!w net\! (if. partial '.ktna ot ttlf: Prt..'tfi'tfty, un~' &rf~')wer and I.ender o1h~rwi~ ~ in ~-iiting. fhC'ff ..naU bt< avplied
<br />1'l th<<; \-~ li<<:-uH:d b) Hl>> Oretod o( TfWtl 'u\'::h Pf(>pQflKm (~f d\C' pHx:<<ds a~ 1-<; ....-l.luai w {hat pn)f)\)rtwn __'hid! fht" ~motf01 (If i 11(' :\um~ ~ured
<br />
|