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200500074
<br />TOGETHER with all the improvements now or hereafter erected on the property, and all easements,
<br />rights, appurtenances and rents (subject however to the rights and authorities given herein to Lender to
<br />collect and apply such rents), all of which shall be deemed to be and remain a part of the property covered
<br />by this Deed of Trust; and all of the foregoing, together with said property (or the leasehold estate if this
<br />Deed of Trust is on a leasehold) are hereinafter referred to as the "Property." Borrower understands and
<br />agrees that MERS holds only legal title to the interests granted by Borrower in this Deed of Trust; but, if
<br />necessary to comply with law or custom, MERS, (as nominee for Lender and Lender's successors and
<br />assigns), has the right: to exercise any or all of those interests, including, but not limited to, the right to
<br />foreclose and sell the Property; and to take any action required of Lender including, but not limited to,
<br />releasing or canceling this Deed of Trust.
<br />TO SECURE to Lender the repayment of the indebtedness evidenced by Borrower's note dated
<br />DECEMBER 31, 2 0 04 and extensions and renewals thereof (herein "Note "), in the principal sum of
<br />U.S. $ 23, 8 0 0 . 00 , with interest thereon, providing for monthly installments of principal and
<br />interest, with the balance of the indebtedness, if not sooner paid, due and payable on
<br />JANUARY 1, 2020 ; the payment of all other sums, with interest thereon, advanced in accordance
<br />herewith to protect the security of this Deed of Trust; and the performance of the covenants and agreements
<br />of Borrower herein contained.
<br />Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to
<br />grant and convey the Property, and that the Property is unencumbered except for encumbrances of record.
<br />Borrower covenants that Borrower warrants and will defend generally the title to the Property against all
<br />claims and demands, subject to encumbrances of record.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal and
<br />interest indebtedness evidenced by the Note and late charges as provided in the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender,
<br />Borrower shall pay to Lender on the day monthly payments of principal and interest are payable under the
<br />Note, until the Note is paid in full, a sum (herein "Funds ") equal to one - twelfth of the yearly taxes and
<br />assessments (including condominium and planned unit development assessments, if any) which may attain
<br />priority over this Deed of Trust, and ground rents on the Property, if any, plus one - twelfth of yearly
<br />premium installments for hazard insurance, plus one - twelfth of yearly premium installments for mortgage
<br />insurance, if any, all as reasonably estimated initially and from time to time by Lender on the basis of
<br />assessments and bills and reasonable estimates thereof. Borrower shall not be obligated to make such
<br />payments of Funds to Lender to the extent that Borrower makes such payments to the holder of a prior
<br />mortgage or deed of trust if such holder is an institutional lender.
<br />If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of
<br />which are insured or guaranteed by a federal or state agency (including Lender if Lender is such an
<br />institution). Lender shall apply the Funds to pay said taxes, assessments, insurance premiums and ground
<br />rents. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying and
<br />compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of
<br />this Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made
<br />or applicable law requires such interest to be paid, Lender shall not be required to pay Borrower any interest
<br />or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds
<br />showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The
<br />Funds are pledged as additional security for the sums secured by this Deed of Trust.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds
<br />payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the
<br />amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due, such
<br />excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on
<br />monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay
<br />taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender any
<br />amount necessary to make up the deficiency in one or more payments as Lender may require.
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to
<br />Borrower any Funds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is
<br />otherwise acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property
<br />or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums
<br />secured by this Deed of Trust.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by
<br />Lender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts
<br />payable to Lender by Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to
<br />the principal of the Note.
<br />4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's
<br />obligations under any mortgage, deed of trust or other security agreement with a lien which has priority over
<br />this Deed of Trust, including Borrower's covenants to make payments when due. Borrower shall pay or
<br />cause to be paid all taxes, assessments and other charges, fines and impositions attributable to the Property
<br />which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br />Property insured against loss by fire, hazards included within the term "extended coverage," and such other
<br />hazards as Lender may require and in such amounts and for such periods as Lender may require.
<br />FE- 4351(NE) (0209) Page 2 of 6 Initials:
<br />Ne43512. cw
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