|
<br />82--t)039h~
<br />if Burrovrr pays Funds to Lender, [he Funds shalYbe held in an institution the deposizs oraccounts ofwhich are
<br />insucedorguaranreedbyaFaderalorstateagency(inclirdingLenderifLenderissuchaninstitutionl.Letsder5hatlapply'
<br />the Funds to pay said razes, assessmenu, insurance premiums and ground rents. Lender may not charge for so holding
<br />and applying the Funds: analyzing aid account or verifying and compiling said assessments and bills, unless Lender
<br />pays Borrower interest on the Fundsand applicable law permiu Lender to make such a'chargc. Borrower and Lender
<br />may agree in wiiGng at the tune of execution of this Deed of Trust that: imeresr on the Funds shall be paid to Borrower,
<br />and unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be'regttired
<br />to pay. Borrower any interest or earnings on the Funds: Lender shall give to=Borrower. without charge, an annual
<br />accounting of the Funds showing credits and debits to the"Funds and the purpose for which each debit to the Funds waz
<br />made. The Funds are pledged as additional security far the sums secured by this-Deed of Trust:
<br />IFthe amount of the Funds held by Lender, togetherwith the future monthlyinstallments of `Funds payable prior to
<br />the due-dates of taxes, assessments, instuance premit~as and ground rents, shall exceed the amounCrequired to pay said
<br />taxes: assessments, insurance premiums and ground rents as they fall due, such excess shall be, st'Borrower's option.':.
<br />either;'prompUy;repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of.the
<br />Funds"held by [.ender shall not be sufficient to pay axes, assessments, insurance premiums and ground rents as they'Pal l
<br />due. Borrower shall pay to' Lender any amounenecessary tomake up;the deficiency in'one ormore payments as Lender
<br />may require.
<br />Upon payment is fall' of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any
<br />Funds .held by :Lender. If under. paragraph 17 hereof the Property is sold or the Property is otherwise acquired by
<br />Lender. Letrdershatl apply, no later than immediately prior to the sale of the Property or its acquisition bvLender, atrv
<br />Funds he[d by tender ar the time of application as a credit against the stuns secured by this Deed of Trust.
<br />3. ApPlkxtbis of PnJsstot Unless applicable taw provides otherwise, all payments received by Lender under
<br />the Note and paragraphs ;and 2 hereof shall be applied +y Lender first in payment. of amounts payable to Lender by
<br />Borrower under. paragraph2 hereof, then to interest payable on fhe Note, and then to the principal of the Note.
<br />3. Peiar'Maet~ea ud DMds'ot Tra~t;'Chsegs; Lkm. Borrower shall petfortn al! of Borrower's obligations
<br />under any mortgage. deed: of trust or othtr security agreement with a lien which has priorirv o~•er this Deed of Trust,'
<br />including Borrower's covenanu to make paymeau when due. Borrower shall pay or' cause to'rbe paid ail axes.
<br />assessmenu and`ather charges, fines and impositions attributabletothe Property which may strain's priority over this
<br />Deed. of Trust, and leasehold parmeau or ground renu, if any.
<br />3. Haraed!I~es Borrorer shall'keep the improvements<now-existing orhereaftererected on rte Property.'
<br />instuedagaiastloss by Etta. hazards included. within the term "extended coverage'". and such other hazards as Lender
<br />may requite and insuch amouau and for such periods as Lendermay require.
<br />The inuurance carrier providing the insurance shall be chosen by Borttawer subject to approval b~ Lender; provided,
<br />thatsuch approval shall not be unreasonably.withheld. All insurance policies and renewals thereof shall be"in a form.
<br />.acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to Landes
<br />Lendershall_havethcright to hold thrpolicies and renewals thereofaubject to the terms of any mortgage, dace of trust"
<br />ar othtx security agreement with a lienwhich has priority over this. Deed of Trust:
<br />In the event of loss. Botrovrer hall give prompc notice to the insurance carrier and. Lender. `Lender. may make proof
<br />of loss if not made promp[iy by Borrower.
<br />Lf the Property is abandoned by Borrower, or if Borrower fails to respond;to Lender within 30'davs from the date
<br />notice is malted by Lenderdo Borrowerthu the insurancdcarrier niters tasettie a claim fgr insurance beaetits:, Lender is
<br />authorized to collect and>apply the insurance proceeds a: Lender's option either to restoration or repair of the
<br />Property or to the sums secured by this Deed of Trust.
<br />6. ProraeratfM asd Mai~esewe of Ptepe+ty:;Leaae6eldr; Coadominiutmat Planned unit l)evelopmenu. 8oc-'
<br />rower shall keepahe Property in good repair andshal! not cammu ~easte or permit impairment tic deterioration of the
<br />Property and shail'compiy'with the provisions of any lease ifthis Decd of Trust is on a leasehold. If this Deed of Trust is
<br />on a unitin a condominium or a planned unit development: Borrower sha1L perform all of"Borrower's obligations under
<br />the declaration orcovenanu creating or governixeg the`condommium or planned unitdevelopmem. the by-laws and
<br />regulations of the condominium or planned unit development, andconstituenfdoeuments.
<br />T Pr~trictlN-ai Ipder's 5ecnrltf. Lf Borrower fa.ila to pertbrm'the covenants and agreements contained in ,his
<br />Deed of Trust: of if any action ar prpceeding is commenced which materially-affects Lender's interest in the .Property.
<br />then Lender, u Leader's option, upon notice to Borrower, may make such appearances:. disburse such sums: including
<br />reasonable attorneys' fen, and take such action as is necessan to prokect Lender's interest. Tf Lender required mortgage
<br />insurance as a condition of making theloan secured by this Deed of 7'zust. Borrower shall pay the premiums required in
<br />maintain such insurance in effect uniilsuch time as zhe requtremenr for such insurance terminates in accordance .with
<br />Borrower's and Lender's written agreement or applicable {aw.
<br />Any amounts disbtrrsed,by Lender pursuant to this'paragraph;7, with interest thereon. at the Nate, rate; shai;
<br />become additional indebtedness of Bottowersecured by thLc Deed. of Trust.`Gnless Borrower and I,ender,agtee to
<br />other terms of payment. such amounts shall be payablt upon notice From Lender to Bottower requesting p yznent
<br />thereof. Nothing contained-in this paragraph 7 shall requite Lender to incur any expense nr rake any.. action hereunder,
<br />b. Ltrpectba. Lender may make ar cause to be made reasonable entries upon and inspections of zhe Propem.
<br />provided that Lender shall stive Borrower nonce prior to any such inspection specifying reasonable cause therefor
<br />related to Lenders interest in the PropeRy.
<br />9. Ceedetmnatioe. The proceeds of any award or claim for datnagrs. direct or consequential. in connection with
<br />any condemnation or other taking of the Property. or part thereaf.`or for conveyancein Lieu of condemnation. ale
<br />hereby assigned and shall be paid to Linder. subject to the terms of any mortgage. deed of trust or ocher secytity agree-
<br />ment with a lien which has priority over this Deed of Trust.
<br />l0. BarroMer blot 1<ckaeed; Ferbeaeaoce By L.eadei• Not a VYaiver. ExCensir>n of the time for payment or
<br />modification nt amortization of the sums securedby this.Deed of Trust grantedbv Lenderzo any successor in,incezcst of
<br />Borrower shall not opecate to release,. in any manner, the liability of the original- Borrower and Borro~ s~; scec~s~urs !a
<br />inten~st Lender shall not be required to cammencc proceedings against such succeswr or:refuse to extend time rt,r t~~p-
<br />meat or otherwise modiry ammortization of the sums seenredby thicDced of Trust 6p reason of any: demand made by the
<br />original Borrower and Borcowcr ; ;ucc~essors in interest_Any forbearance by :C.crder m exercisutg am r,ght ut re~ed,~
<br />hereunder. or otherwise afforded oy apptieable law, shall ^ot be a waiver of or preclude fhe exercise tit and such rtgttt t>r
<br />remcdt
<br />tl- Succeuors wd.Aasigm Bamdt'Jaint and Sevtrsl Llatsif3ty; +Ca~.ierters. 'Che cs.ven,tnY'+ an.i agrrenteais
<br />herEin a:~^ta•rtcd.~haEl bind: arul the. rights '+ereitndc~ ~haa in., ^ t,. zh r. ,xcr.. , ,~-~uzrs an<t assign. ~~t I_,_ne'rr and
<br />i3orro..rr subject to the provisions if pac ,;tsph I - t-r.: ~:-:.• ,>1 ~ ..~.+.~,~ i,..' :~~r ~. nrn~•.:±t Barrrow-r alt sip kn: ,tnrtt aitd
<br />se?%erai.Any Borcow~et whom-signs this Lire-d uS: Lau . h~tt ;i ~c +, x, .. ~ `iv ^ . ~.ci:, _~ . gntny t..w ti.au' eat c`r'ust
<br />runty ~ ~tsnt arittcorvcy chat Borrower v .men:-' P~:~pr , , "C, rr ~_ ,~r-s ~f t,^u I;kr.~ ,it'Trusz. ~h) tis
<br />
|