|
_ ~
<br />gZ~ t~Q~~34_
<br />- ]f Borrower pays Fords to Lender, the Funds shat! be held in art 'enstitution the deposits or accounts of`which are
<br />insured or guaranteed by s Federal or state agency tincltioling Lender if LYnder is Buchan"institution). Lender shall apply
<br />_ the Funds ao pav'said taxes, assessments, insurance premiums and ground rents. Lender may not cttar~e fof so holding
<br />-~ ,end appl}~irq the Prods. analyzing said account otvetifying and compiting said azsessmentsand bills, unless Lender
<br />-_ pays Borrower interest on the Funds and applicable taw"pErtnits Lender to makcsuCh a charge. Borrower and Lender
<br />may agree in wTitiig at the time of execution ofthis Deecf~f Trust that interest un the Fundsshall be paid to Borrower,
<br />and unless such agreement is made or applicable law requires such interest co be paid, Lender shall nor be required
<br />to pay Borrower any :merest or earnings cn the Funds. Lender shall give to Burrower, 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 was
<br />made. The Funds are pledged az additional security forthcsums secured by this lleed of Trust.
<br />_ [f the amouot ofthe Funds luld,by Lender: togetherwiYh the furore monthly installments of Funds payable prior to
<br />the due dates of taxes, atsessmmts; insurance premiurtis and ground rents. shall exceed the amount required to pay said
<br />- taxes, assessmenu, insurance pretniams and ground rents az they fall due, such excess shall be, at Borrower's option,
<br />either promptly repaid to Borrower or credited o Borrower on monthly installment; of Funds. If the amount of the
<br />- Funds held by Lendtt shall not bezufficient to pay taxes; assessments: insurance premiums and ground rents as then tall
<br />due. Borrowtt'shall pay to Lender any amouutnecessary o make up the deficiency in one or more pavrrents as Lender
<br />- ` may requite
<br />- Upon paytnrnt in full of all sums secured by this Deed of Trust, Lender hall pmmpt!y refund ro Borrower any
<br />Funds held by Ledder, If"under paragraph 17 hereofthe Property is sold or the Property i; otherwise acquired by
<br />Lettder, Lendtdshall apply, eo later than itnmedtaulvpriorto the sale of the Propem or its acquisition by Lender, arrv
<br />Funds hdd by Lender atthetime of application as a credtf against the sums secured bs this Deed of Trust.
<br />3: Appllatk~ of Pa~r•wtl.'Unlas applicable taw provides otherwise..all payment; received by Lender under
<br />the-Note and pangraphs ; and 2 hereof shall be applied by Lenderfint in payment of amounts payable to Lender b
<br />Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to thr pnncrpal,of the Note.
<br />4.-PArar Mwt'a~w atitd Dwiro[ Trst; Ch~rr~; Lien. 13orrawer shall perform alt of Borrower's gbligatians
<br />under any mortgage, deed: of trust or other'security agreement with a lien which has"priority over. this Deed. of Trust.
<br />inclttding Bartorer's covenants to make paymenu when duce Borrower shall pay or cause to be yard all taxes,
<br />assessmrnts and other charges, fitter anti impositions attributableto the Property which may attain a pnority over this
<br />Dtxd of Trtut and leasehold parmenu or ground rents, if any.
<br />S. H~rael>Ga~eu~toe. Boti<owecshall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire.' hazards included within the term "extended coverage"', and'such other hazards as Lender
<br />may:requite and in such amounts cad for such periods as Lender may require. ,
<br />' The itniuance cartierproviding the insurance shall be chorea by Borrowrr subject to approval by 1_ender: provided.
<br />that such approval shalt not be unreasonably withheM: All insurance policies and renewals thereof shall be-i^ a form
<br />acceptable to bender and shall indnde a standard inartgage dsuse in favor of and in a form acceptable to Lender.
<br />Gender shall have the tight<to hold the policies artd renewals thereof, subject to"the terms of any mortgage, doe.. 'of trust
<br />a other sectuity agreement with a lienwhich has prrarity over this Dead of Trust.
<br />In the event of lass. Borrower shall give prompt narittYa the insueance carrier and Lender. Lender may.. make. proof
<br />ofloss if trot tnadrpromptly by Borrower.
<br />If the Property is abandoned by Borrower, or rf Borrower fails to respond to Lender within Jp days from the date
<br />notitt is retailed by Irnder to Borrower that the insurantt carrier offers to settle aclaim-for insurance benetits; Lender is
<br />authorized to collect and apply the rnwranec proceed n. Lender's option either-zo restoratign or repair-of the
<br />Property or ro thesums seciued by this Deed of trot.
<br />6. Ptteaeratlaa a~ Mairatrroe of Pre~ertyt Lwaaboi~;'Coadominlutm; Planned Unit Developments. Bor-'
<br />rower shall keep the Property in poor repair and shall nor commit waste or permu impairment ordetertoraiianof the
<br />Property and shall comply with the provisions of any lease if thu Deed of TrustFis on a leasehold. If his Dced of Trust is
<br />on a unit in a rnodominiuntor a planned unit development. Borrower shall pert'orm all of Borrower's obligations under
<br />the declaration or coveaanu cresting.: or governing zhe condominium or .planned unit-development, the by-laws ar.u
<br />regulations of the condominium at planned unitdevelopment, and constuuem documents:
<br />7. Pt~teetiati of >as~r'a Snenrity. [f Borrower fails to perform the covenants and agreements contained in this
<br />Deed of Trust. or if ant action or proceedsng is commenced which materially. TY'ects Lender's tntetest in the Property.
<br />then Lender, at Lender's option, open notice to BorrowCr, may make such appearances. disburse uch sums: including
<br />reawnable attorneys' fees, and take such xtion as is necessary to protect Lender's interest: if i~ndefrequired mortgage
<br />iosurancro u a condition of making the loan secured by this De..-d of Trust. Borrower zb:ril pay the premiums required o
<br />maintain such insurance ie effect unsil rich time as the requirement for such insurance terminates in aceordancc with
<br />Borrower's and Lrndes's written agreement or applicable law.
<br />Any amcwnts dishursed by Lender pursuant to this paragraph '. with interest [hereon, at the tiote rate. shall
<br />became additional indebtedness of Bom~wer secured by this Deed of Trust. Unless Bor-.uwer and Lender agree u>
<br />other terms of payTnent. such amcunu shalt be payable upon notice iron: Lender to Borrower requcstinK p vment
<br />thereof. Nothing contained in this paragraph 'shall require Lender to incur any expense or take ant action hereunder.
<br />6. [rr~eetlen. Lender may make ar cause to be made reasonable entries upon and inspections of the Progeny.
<br />' provided that Lender shalt give Borrower notice prior ro any such inspection speei[ying reasonable eausethere'for
<br />related to Lender's interest in the Property.
<br />9. Gwtdemiuiw. The proceeds of an}' award or claim for damages. direct or corsequentiai. in a>nnectianw~ith
<br />` any condemnation or oti>er taking nf~ the Property, or part therenf. er for conve.ance is lieu c` mdemnation, are
<br />hereby assigned and shah br paid to Lender. subject io the terms of an}~ mortgage_ deed .>f crust ur ocher xeurit~~ a,crec-
<br />- room with a lien which has priority over this Dced of Trutt.
<br />10. Berroarr Not Related; Forbearance Br Lender Not a R`y.er. Fztcnsion of the *ime for payment or
<br />_ modification nFamortiza[ion of the sums secured by this Deed of Tru~~t grar.trd bs Lender ~. .nv suttecaor in interest ul
<br />- ~ Borrower shall not operate to release, in any manner, the liuht{in a the iv.,inal Bor ~ rr en i Br~r:o vr' veer vn in
<br />intcrat. Lender shall not be required «? commence proeeedt~z~ agatm Buell wC~case r „r r~;itse m ettend n ::• pa.~-
<br />meni ar otherwise modify amortization of the sums seeurect bq this Deed ui ~i"rut bi roue=n ~i:;n~ demand nurd~ L v the
<br />original Borrower and Borrower's suecessars m in[err-st. An "t iiear,tncc tic Lit uer in es-rasiny anti -mitt ~~~ ~eiedy
<br />hereunder. or otherwise at~orded by applicable law, shah , ~>t '?e a wai t a: ~ -~~t.dr the ~ ,.,.,~ ; I trot sup h right ~~r
<br />- remede
<br />- I1. 5~rcassors end .4sslAns Efound; 7uinf ar~d Serersl Liability: Ca-signer. i n~ ..,,,m r~. -.i . :!._.. -. -,.~ .
<br />= hr_r~in ecntained ;!-all hand. an: tnr sight; 6er~ur~ i. ,hat iruc te.. etc rc ;p.•eti~ re. •-:,~:.~ it a,; s ~ L_~.i r: aria
<br />Ho s'i ti h} t; S i c r t~>a ~ a~ 1 I •,a r~:roc ~:~~. 1 rr ~r, r i,
<br />~rai..l H :;w ~ - , v n ,hss l + , t...; t ..:c ~ " t - ~-; f titci t 1
<br />~. r ~ .. r-r,rnt att•. ; n ~ 'r„t 3.. x-er .. .r , . ,~ i.r,.t tr) .. ~ rte:~i, Lcrs'. , , ~, t?cu i :....
<br />t
<br />
|