|
<br />82-utl~~J~-
<br />-f BeNrower pays Funds to Lender, the Funds shall be held in an institution me deposits nr accounts of which are
<br />insured or guaranteed by a Federal or state agrncy [including Lender if Lender is such an institution!. Lender shall apply
<br />[he Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding
<br />and applying the Funds, analyzing -said account or verifying and compiling said assessments and bills, unless Leader
<br />pa}x Borrower interest on the Funds and applitatrk !aw permits Lender to make such a charge. Borrower and Lender
<br />may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower,
<br />and unless stech agtetmeat is made or applicable iaw requires such interest to be paid. Lender shall not be required
<br />to pay Borrower any interest or earnings on the Funds. Lender shall give to Botzower. without charge, an annual
<br />accouatina 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 for the stuns secured by this Deed of Trust.
<br />!f the amount of the Funds held by Leader, together with the future mosahly installments of Funds payable price to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount requited to pay said
<br />taxes, assessmenu, insurance premiums and ground rents as they fall due. such excess shall be. at Borrowec's option,
<br />either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the
<br />Ftmds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fal}
<br />due. Borrower shall pay to Lender any amount necessary to make up the defsciency in one of more payments az lender
<br />may require.
<br />Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any
<br />Funds held by Lender. [F under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by
<br />Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any
<br />Funds held by [.ender at the time of application az a credit against the sums secured by this Dced of Trust.
<br />3. Applicatbn of Paymma. Unless applicable law provides otherwise. all payments received by Lender under
<br />the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by
<br />Borrower under paragraph 2 hereof, [hen to interest payable on the Note, and then to the princspal of the Nore.
<br />4. Prf~ Noetyteea and Deeds of Trtwt; Chargtxt; Llms. Borrower shall perform all of Borrower's obligations
<br />under nay mortgage. deed of trust a other security agreement with a lien which has priority over this Deed of Trust.
<br />including Borrower's rovenants to make payments when due. Borrower shall pay or cause to he paid all taxes.
<br />assessments and other charges, fines and impositions attributable [o the Propem which mat attain a priority over this
<br />Deed of Trust, and leasehold paytttencs or ground rents, if any.
<br />$, Hasard lnvnnte. BO[TOwt[ shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards inciudtd within the term "extended coverage". and such other hazards az Lender
<br />may require and in such amounts and for such periods as Lender may require.
<br />The inuurance carrin providing the insurance shall be chosen by Borrower subject to approval by Lender; provided,
<br />that such apprtwal shall not lx unrcazonably withheld. Alt insurance policies and renewals thereof shall be in a form
<br />acceptable to Lender and shall include a standard mangage clause in favor ai' and in a form acceptable to lender.
<br />Lender shall have [he right to hold the policies and renewals thereof: subject to the terms of any mortgage, deed of trust
<br />or other security agreemenC with a hen which has priority over this Deed of Trust.
<br />In the erect of loss, Bomwver shall give prompt notice to the insurantt tamer and !.ender. Lender may' make proof
<br />of loss it' not made promptly by Borrower.
<br />If the Property is abandoned by Borrower. or if Harrower fails to respond to Lender wtthtn all days from the date
<br />rrotitt is mailed by L,ertder to Borrower that the insurance carrier offers to settle a claim for tnsuraner brnrtits. Lender is
<br />authorized to rolled and apply the insurance pra~ceds at Lender's aptintt etcher to restoration or repair of the
<br />Property or to the sums secured by thu Deed of Trust.
<br />6. Prtaer+atbt: and MttHtoeeance of Anperty; t.eaaehotds: Coudominiuan; Planned knit Developments. Bor-
<br />row~r shat) keep the ?roperty in good repair and shaft riot ccmmn waste or pertrtit Impairment or deterioration of the
<br />PropeRy and shalt aromPly with the provisions of any ieaae of this Deed of (rust is on a leasehold. If this Deed of Trusi is
<br />as a untt in a rondominium or a planned unit derelnpmrnt. Borrower shall perform all of Borrower's obligations under
<br />the declaration or covenants creating err governing the condomtnrum or planned tin#t development, the by-laws and
<br />regulations of the rondommium or planned unit devriapmrnt. and cons[rcucnt documents.
<br />T- Ptrtattfaa taf (-ender'a Sectvlh. If Borrower tails to perform the :ovenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which mattrialh atfi'ects Lender's interest in the Progeny,
<br />then Lender, at Lender's option, upon noutt to Harrower, may make such appearances, disburse such sums. including
<br />reasonable attorne}'s fen, and takt such action as #s necessary #o protect Lender's interest. If Lender reyuired mortgage
<br />insurance as a condition of making the tone secured by thts Decd ~~t' Trust, Borrower steal I pay the premiums reyuired to
<br />maintain such iasurarttt in effect until such :imr as the rcquiremrnt for such insurance terminates in accordance with
<br />Borrower's and lender`s written agreement or apps#cable law.
<br />.ley amounts disbursed by Lrtaler pursuant to this paragraph `. with interest thereon. at the Noce rate. shall
<br />become additional indebtedness of Borrower secured by thts Deed of Trust. L'nirss Bomrwer and !,ender agree to
<br />other terms nF payment, such smounts shat! be payahk upon notice from Lender ro ltorrowrr rcquesttng p yment
<br />thereof. Nothing rnntaiaed in thu paragraph' shall reyuire Gender to incur anv expense t?r take any action hereunder.
<br />d. IattpeetMn. LerMet may make or cause to be made reasonable rmnes upon and tnspttitions of the Property.
<br />nrew;cied that ilnder shall eiyt Borroa-ee notice prior to anv such tt[sprctian sixtitfv'tntt reasonable cause therefor
<br />related to Lender's interest is the PmpeRy.
<br />4. Cam. Tht prcecMs of any award or claim for damages- direct ar conseyurnual, to connnuon with
<br />any cottdtmtuttion tx other taking of the Pmperry, or paR thereof, cx for conveyance to lieu of cnndtmnatinn, are
<br />hereby assigned and shall be paid to Lender, subject tit the terms of any moRgagr, :feed .~f tens[ nr other security agree-
<br />mrnt with a Lien which has priority over this Deed ot'irust.
<br />tt0. Btferwrae Nht RafNSedr Eor6earanca ey t.enda Net a Wafter. Extension of the time fix paymrm or
<br />madiiLtation ofamaRization of the sums stcurett by this Decd tx Trust granted by Lender to any weceswr in tntrttu of
<br />8arr4wet shall trot operant to ttitase. in any manner, the liability of the original Benower anal Barrnwrr's succrsson m
<br />interest. Central shalt not be requited to commence pra.-ctdiags against such auccesur or retusr m extent! time for pay-
<br />mettt tM othatwisc taodity amortiaatioa n£ the soma atcurtd try this Llred of Trusi by reasen nl any demand made hr the
<br />tuigina£ Berrowtt noel Bortrnttr's 3trctt tia,rs in interest, ~1ny fnthearat+ce try Lrrtder to rarravng any crater ur rrmtdy
<br />htraustdat, ar otherwise afftutitd Icy appitcahlt iaw, steal! not l+r a waiver of or Ixcxlude the exercise.+( an>< stuh right ~x
<br />rtmcd> -
<br />!l. Ssaata ~ Aasi~as 6etsad; lnitat and `.+-acted L3+-bitity: C;o-sigtanmt. l?trt :..a.rn.ctttw and at;reetttrn#s
<br />htt!dld cgntaitMd shaft [rind. and tits rtuhts hereunder shall tnurr ttz: the rrsn+rst#se +uc:.•sss.~r. amt asx.!<`ns ~.•# !.ender and
<br />~rrnw'et. ssthieyt to the Arxisa:ms i,f Isarx,~ra~,rh ! b here.-;_ ,~1; rCneryants :tied agrr4nxxrts.e# Borrower sitxh br tumt and
<br />xevcraf. 4ny H+,trc+vtt whs, co-a#rtns .his 4;kt i ~ ~t'Fritst, ?*ut ~kara nzxt . xc~t:'~• :bP ~.,tv. ~;e t *. i~z, ,:,<nt+r~ rr:i. i k~r~~! .,! ! rus#
<br />and i't~~r arc[ ,~n~i •.utx-e, tha4 f{.x•rxwers ,~rerPVi tt";<tr F'ryr1~,7. !:, ltui ti ., t(~r: i '=viatla =~t tt; c, e1e•" er~i. tFi is
<br />
|