|
$~--~t~a0~~
<br />Ultttt~usCovetaxtrrs. 8orrawcr and Lander covenan[ and agile as follows:
<br />Y„ t o[-!'ti at+d-t'sKtreat. Bartvwer shai6 P~tPttY WY where due the principaS of end interest on 11tc
<br />i evtdmttd by the tdott, preppa9y~ment and tart rhargrs as pravtded in the 3+COto, and the prinetpa{ of and intartat.
<br />ten amy Future Advan~tt sixttrtd by this Deed of Trust.
<br />3. Ptrt~i [ar Tams sri Irtatn+nee. Subject to applicable law or to :written waiver by Lentkr, Barrowee shall. ptiy
<br />to Lender as the day monthly installments of principal and interest are payable under the Natt:, until the Notc is paid in hilt..
<br />a stem (here{n "Futrds") equal to erne-twttfth of the yearly taxsY and assessmems which may attain priority over this
<br />Geld of Z`rust, and gtesutxl rents an the Properly, if any, phis one-twelfth of yearl y premitem 'snstalimenu for hazard insurance.
<br />plus ~^:e-twelfth of ysati}r prnaitun installments far mortgage insurance, if any, all a reasonably estimated inifta{ly and from
<br />time as tip by Lender on tlx basis of assessmenu and tattle and reaspnablt estimates thtrt:af.
<br />The Funds shalt be held in an institution the deposits at accounts of which arc tnsurcd or guaranteed by a Federal or
<br />statragettey (inchrding Lender if Lender is such. an inststuhnnS. {.ender shah apply the Funds to pay said taxes, assessments.
<br />iraurattn;c ptesniums and ground renu_ i.ender may not charge far so holding: and applying the Fsmds, anal Jung caul accoum
<br />or vtrifygrta and compiling said asatxsments and hills, un{tss I.tnder pays Borrower interest an the Funds and applicable law
<br />permits fxndc:r to make such a charge. Borrower and Lender may agree in writing at the ¢ime of execution of this
<br />Deed oaf Trust that imertst on the Funds shat{ he paid to Borrowtr, and unless catch agreement is mods ac applicably law
<br />retlttin~ such inierat to be paid. Linder shall not Ix required to pay Barrmvtr any enttrest or earnings on the Funds. I.cndcr
<br />s"Hall give to Harrower:, without charge, an annual accotinnng of the Funds showing credits and debits to the Funds :end the
<br />parpoatefprwhich tub ttebit to the Funds was made. The Funds a.e pledged as additional security far the sums secured
<br />by this Daed of Trust.
<br />if .the atnatmt. of the Funds held by l.endtr, together with the Cuturt monthly installments ar` Fonds payable prior to
<br />thedtte dolts of [axes, asusunenu, insurance prtmiurns and ground renu, shalt txec-~f the amount required to pay said tart.,
<br />assesstrttnts, ittsuratect premiums and ground renu as they fall due, such excess shat! ht, at 6orrawer's option, tither
<br />promptly repaid to Hornatver or credited to Harrower on monthly installments of Funds. if the amount of ihy Funds
<br />hddby Lender stand not be cull-relent to pay taxes,. assessments, insurance premiums and ground rents as [hey fall due.
<br />Haeraover shalt pay to Ltndtr any amount necessary to-make up the deficiency within 3Q days from the date notice is mailed
<br />br'Lenderto Barrawerregtxstiug payment thereof:
<br />Upon payment in full of ail sutors securty by than Deed of Trust, tender shalt promptly refund to Borrower any Funds
<br />held. by Lander. IC under paragraph t8 hereof ahe Property is sold or the Property ss otherwise acquired by tender, i_ender
<br />shall apply, na later eltan imrtrcadtatety prior 4o the sale of thy Propery or its aequisrtion by Lender, any Funds held by
<br />lxtukr at the titett of appGcatiaa as a credit against the sums secured by this Lamed of Trust.
<br />3. Apfiitruiat of Paytraewts. S.Inkss applicable law provides otherwise. alt payments received by L.endcr under the
<br />Nett and paragraphs 1 and 2 hereof sha41 bt applied by tender firn +n payment of amounts payable to [.ender by Harrower
<br />under puagraph 2 hrrcof, then to interest payable an the Nate. then to the principat of the Note, and them to interest and
<br />priract~ an anp Fuwre Advances.
<br />[.ieias. Borrowtr shall pay alt taxes, assessments and Daher charges, frrres and imptnuions attributable to
<br />Lire Propeety which may attain a priority over fhis Died of Trust, and }easehold payments or ground rents, if any, 'vn the
<br />maaatr provided •meier ~aragrnph 2 hereof nr, i6 non paid in such manner. by Her-.o•:eer makinfi payment. when dot. directly
<br />to the payee ttttreof. Borrower shall promptly furnish to Lender all notices a>f amounts dot under this paragraph, and in the
<br />event Bort»wtr shall make payment directly, Borrowtr shall promptly furnish to [.ender receipts tvidcncang such payments.
<br />Horrower stroll promptly discharge any tiro which has priority over this feed of Trust; provided. [hat tinrrcawcr shaft not he
<br />required to discharge any such lien sa tong as Borrower shall agree in writing to the payment of the abfsgation secured by
<br />stteh lien: in a tnanaer att:eptable to tender, or shalt m goat eaith comest such Pren by, er altfynd eufarcement of such lien lit.
<br />legal mgs which operate to prevent the entorctrnent of the l+en or forfeiture of the Psoperig• nr any part thereof.
<br />Ihasri lutrruce. Harmwcr shatf_ketp the improvements now exacting or hereafter crested nn the C'rttperty insured
<br />against toss by tire, hazards ixluded within the term "extended coverage", and such attttr hazards as Lender may require
<br />and. in staett amounts and Cor svch perrt>ds as { xauier may rcquuc; prtw+dtd, that Fender,hall not requ+rc that fhe amount of
<br />such covtragt cxcetd that amount of aoveragt regwred to pap the sums secured by this Dctd c.f "'loser
<br />The ittsurartce carrier pra~+iding ahe rasurance tihall ht s:hosen by tSarrawar subject to apprt>val by 6 ,older; prnvtdcal.
<br />that Ytrclt appmvat dull not tat unreasonably wtthhefd. A{( premiums an insurancy petioles shall he pond in the manttu
<br />provit#td ttndtr paragraph 2 hereof ar. if not paid an such manner, by Borrower rooting payment, when due, directly ta> the
<br />itmuratace Carrier.
<br />rllfirtstxranee policies and rtnawals thereof shall br m corm acceptable to Lender :and shalt rncluttz a standard mortgage
<br />clause in favor pf and in form arsep[nbit to {_cndcr Lender shall have the right to hold the policies and renewals thereof.
<br />and $orrower shall ptamprly furnish W i.e.ndsr all renewal notices and all receapas of pool premiums. (n rite cvvnt. of lac..
<br />BOttrowu shall give prompt notice to the ansurartcr carratr and Linder i.,cnder may make proof of foss +f area made promptly
<br />t+y+ Bnrroet'at'-
<br />L#nkss Lender and Horrt>wer otherwise agrct in writing, +nsurance pracetds shalt be applied to restoration or rtparc cf
<br />the Ptoptrty damaged, provided such restoration or rypax is ecanam rally feastbty and the secaarity of this 1>ecd of Trarst i<
<br />trot ihertbp impavtd. tf suc'h restorauan or repau is riot cranamicatiy feasible ar tf the security of this Deed ttf "Lust would
<br />he itt3pairtd, the assurance prasstds shall be applied to the sums secured by this Ur.ed aC `T`rust. uuh the execs,. +f any, pail!
<br />to 8orrnwtr. If the Property is abamtotttd by Harrower, or if Barrtrvxr fasts to respond to Lcndci within 3tt days Crom the
<br />daft natters mailed by Lender ao Borrouzr that the srsurance center offers io seit[e s claim for insurarnc fatnyflfe, tender
<br />is aut3aorixtd ra collect oral apply the irsuraaacc pnxeeds at Ixndei s option rithcr to resioratran ar repast of the Property
<br />or ta. the stems secured by this Deed of Tntst.
<br />Ltniess L"ender and $orrower otherwise agree rn wrurng, any such applieation of prareeds is principa[ shall not extend
<br />or ipont the due date of the monthly irtsiallmynss rytcrred to in paragraphs t and 2 hsrtaf ar change the amount c:!
<br />stYCh insfattttttnss. If undtt paragraph 1 R hersei the Propen3~ ss a~quued by I..cnder, ail riKht, title end tnc~rest oC Horrowrr
<br />in and to anyinsurance policies and in and to the proceeds ihemot' resulting trom damage ac ilte Property prior to the sail
<br />oracgttisitionshait pass to t.endtr to the extent ni the sums soured by this Deed of Trust imnttdiately prier sc such sale or
<br />aegtrettit03F..
<br />'f.. 1'resetvapayttrnd MdNesat•yt of Proptrty« t.eissrba~ids: Caadaminiams. Planaaed Unit fhmetapments. Harrower
<br />xhatE keep attt Prcapeny in gix+d rcpaar and shall not cartmrt waste or perma impairmcrt or ctetesaoradan of the Propetty
<br />and shalt-comply with the pravisiareS of any least if ibis t?tcd of Trust is on a leasthald. If this fyted of Trust ss on a unit. in a
<br />tandominitttn or a planned unit devroiapmtnt, Horrowrr stroll ptriarm ail of Borrower's obligations under the dcclaratian
<br />x>r covertanu creating ar governing the catedomiuaum or planned unit development, the by-taws oriel regxalatioats :,i the
<br />conttomint"um:ax ptantrtd unit dtt¢t{optntnt, and cnatstitutnt documents. )f a condominium or planned unit Gevclopmrnt
<br />"rider ix exuirted bT Botrcxwtr artd recorded tegettaer ee•itta this Deed aC Trust, ahe covenants and agreements of snob rider
<br />slutl lay sncarparated ime arni shalt amend and suppdtment the ciavenanis and agreemenu of this Dced oa "}-rust as if the rider
<br />were a pact hereto.
<br />?- PlroietBnt pf Y.eader`s Sectrrity. If Bonawer fails to perform the covynanis and agreements contained in this
<br />Dent r~t Toast, or if any action q praxcec[ittg is camtttenced winch materially affects t.endtrs interest tit ahe Property.
<br />rrtcludartg, bur trot ~imated to, tmintnr daman,ansafveacy, code enforcement, ar arsangymrnts ar praetdfngs involving .,
<br />tunkruprar des:edent, there Ixttder at L endtr's option, upon Holier ra Horrowrr. may make such ap{~arancrs, tiishursc wuc?i
<br />stators and taltt sttdh aczian as is necessary to protect F.tndtr's inicrest, including, but not ?ienittci to. clishursement r~C
<br />ttt~oat¢bie attorney's Pets .and etstre upon ttte Prapyrty to rirakt repairs. It t_eaxter required mortgage insurarcc a.
<br />condition ot-rrialtiag the;loan: sCeurtd h•r this Dtttf of Trust. Barraw.~r strait pay the premiums required t;a maintain such
<br />irsursnce ra t$tct umrtsucF; time as ttte rygtrirtmene lot stub insurance terminates in accordance with Horrrawrr's „nd
<br />L>e's written attcreaxsegt-or •spplicable i;,w. t3arrnwar staatl pay the amount oaf all ntort{~ge insuraeacs premtunas in the
<br />manner prtra`fded under paraRrap'r Z hereof.
<br />Any aa¢cuuty distmrsed by {.errtier p;arsnant en this paragraph 7, wtthtnt+^rest thereon- shat become additaana9
<br />irtak+betxtneta of 8arrow,er second bt -gut k]ci"d s.3 ~ rust. L>nitss Barmwtr anit LencEor agr+:e sa ot}~r tenors of payrrarm< sutrtr
<br />amramu Llta3t }-~ payatalr crsnn -..:_ Iraat ixrtvigr to Harrower regtaesting payment thtrta€„ oral staall tttar lollies=, frsxtt the
<br />date cf ditJsurscrrteni at the rate pat'ab?>: f;nm esme 4~atimt an t+atstanding principat under tht ntoty uRiess. paynttnr tart irtsrest
<br />atsncb rxtt wntdiS t~ casuary tr ttpFlicabte lotus, is which ev~at such arstounts staatt ht-ar .ntrtyst at t€ae highest rate
<br />pcrnrxiriuate uru3er ag>pti<:ab!e law, "3rritt,n>w catttairttd its this peraga-aptr 7 shalt require ~Latattr fez inter aav expyasr vjr saki
<br />gray ~tiar: 4rrctsn,3ct_
<br />tt, iaaPnt}ew. Cerw^e; may main+ar tavsat to ~ rraatk eeas4nable entries upon and ¢nspe.e.trs*ns a ahe p-:;p,.rtr a rc~vrrli W
<br />=rut 1-*.cu4cr stxxS3 glue #4ortm=arey rxrttae preesr tzs any curb snspectic+tt speeafyiag reasaatat54r cauNC rheretcs ra,lctrxu r„ a-ender-.
<br />xatat ,r, the ~n'siaextv'.
<br />
|