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<br /> 1r:ixosrst C:,•; ft m uNTN. Borrower aml 1-ender covertant and agree to folksav 320 Q a U
<br /> Payment :ri 1'rinCitral and Interest. Borrower shalt promptly pay when due the principal of and interest on the
<br /> iF dcb:edn__1~.; CV+dcnct~d by the Note, prcrayment and late char" as provided in the Note, and the principal of and inten"st
<br /> cn any. r't,turc Advances -wcurr-4 by this hewed of Trtsst.
<br /> 2. Funds for Taxes siod Itmrrancr+. Subject to applicahle law or to a writttn waiver by Lender. Bartewer shall pity
<br /> to t ender nn the day monthly imiallmcnis of principal and interes. arc pay'aMe under the Note. until the Dote is paid in full,
<br /> a :cans (he czn "Funds") equal to one•tuelflh of the yearly taxes and asset~cments .which may attain priority over this
<br /> 0--ed of Trust, and grorad rents on the property, if. any, plus one-twelfth of yearly premium installments for hazard insurance,
<br /> plug.-,tar-twelfth of yearly pternium imialimcnis for.mortgage insurance. if any, all as reasonsWy estimatt.d initially and frotr,
<br /> time to urrit by l..env°r on the bliss o`: assessments and bills and reaumable estimates t!aersof,
<br /> The f=unds shalt be held in an inatituikm the dcpcnits or accounts of +shich arc insured or guaranteed by a Federal or
<br /> titaic agency (irciuding lender if Lender is such an in!stitution). Lender sha"tl apply the Funds to pay said la.xes, asscsx,,ncntt,
<br /> insurance premiums and ground mats. Lender may not charge for so holding and appiyirg the Funds, analysing said account
<br /> or verifying and compiling said amcssments and hills, un)cros Lender pays Borrower interest on the Funds and applicable law
<br /> »cimits l.cnclcr to alike such a charge. Borra-cr and Lender may agree in -writing at tht time of cxccufion of this
<br /> bttd of Trust 04,11 interest nri the Funds shalt be paid Io Borrower, and unkct such agrerme.nt is made of applicable law
<br /> requires such intcre%t to he paid, tender sha11 not be required to pay Borrower any interest or earnings on the Funds. lender
<br /> ,hall give to Ilorrowrr, without chz-pit, art annual actoitntzng of the Funds showing credits and debit% to he Funds and the
<br /> purpose for which each debit to be Funds was made, "fh: Funds arc pledged as additional security for the &L-ms secured
<br /> by ihis Decd of "Trust.
<br /> If i"sr mrio nit of the F=unds held by lender, together with the future mnnthiv installments, of F=unds payable prior to
<br /> ti:c due dates of tart;, :t.-sessmen". insurance premiums and ground rents, shall exceed the amount required to pay said tales,
<br /> axsessnarnts, insur3rict premitzrra.; and ground rents its they fall clue, such clews shall be, at Borrower's Option. eitt•.cr
<br /> promptly repaid to B:?rrowcr or crttditmd to F3orrowcr on monthly installments of Funds. If tht amount of the Funds
<br /> held t:y lender shill not tr_ suflicrent to pay taxtn. ~.-xcbs,mrnts, itasurancc premiums and ground rents as they fill; due.
<br /> lloriowcr shall pay to lender any arnount necessary to make up the dcfici4ncv within 10 days from the date notice is mailed
<br /> by Lender to Borrower rcqucmictg payment thereof.
<br /> Upon payment in full of all sums srutirrd by this bled of •Tru.-z, i,endcr shat; promptly refund to Borrower any Fain'!,
<br /> held by Lender, If under paragraph It`s hereof the Property is sold or the property is otherwisc acquired by I ender, l.crwcr
<br /> "ha?! appty, no latrr ulmn immediately r io- to ,.hc sole of ehe Prm)crzv or ili, acquisition by Lcr,lcr_ any Fund- held by
<br /> Lcndcr at the tirtzc of application as a credit against :hc surrs u^curcd by this I)e::ti of Trust.
<br /> 3. rt.pplkwion of Payments. Unless applicable law provides othcrw,1z. all pavmcnis received by !-ender under th;
<br /> Noic and paragraphs I and 2 hereof shall be applied by Lender first in FaaWnCnt of amounts payable to Lender by Borrower
<br /> under parzgrapl, 2 hereof, then to interest pavatalc on the *Note. then to the. prini_ipal of the Notr. and then to inrcrtst and
<br /> principal on any Future Advances.
<br /> 4. Charges: Lierm Sorxower shall pray all take ; assessmr_rztc and oth•-r charge. fine..- and imposition; atlrihut::bic in
<br /> the Iarnl*cr,V V•tiich may attain a priority ot-cr this Deed of Trust, and icwmhold payments or ground rents, 'f any, in the
<br /> mawncr provided under Iaxragraph 2 hereof or, if ncst paid in ;uch manricr, by Borrower making payment, wht.n due, directly
<br /> !o thr paycc there-of. Borrcwtr shall promptly furnish to ltrader all nvices of amounts clue under this ;mraitraph, and in the
<br /> event Borrower shali make payment directly, korrower shall promptly furnish to lender receipts evi_Icncing Stich payments.
<br /> Borrower shall promptly discharge ar,-v lien which has priority over this Ned of Trust; provided, that florl"wer shall not he
<br /> required to discharge any such lien sea long as %rrower shall agree in writing to the payment of the obligation secured by
<br /> such lien in a manner acceptable to Lender, Or shall in good faith contest such lien by, or defend cnforcerrmnt of such lien in.
<br /> lega; proccedings which opera!.- to prevent the enforccmcnt of the lien or forfeiture of the Property or ally part thereof.
<br /> 5 Illiasard Ittsnrauce. Borrower shall keep the improvements now existMg or hereafter erected an the ProMty insured
<br /> against loss by fire, hazards included within the terra "c.. mended coveraigc". a,nd such other hazards as Lender may rrgttiti
<br /> and in such amounts and for such periods as, Lender may require; provided, t`wt Lender shall not requite that the ainount of
<br /> such coverage exceed that amount of coverage. required to pay the sum% secured by this Dred of Tmst.
<br /> 'The imni-ance carrier providing the insurance shall he chtrtcn by Borrower stihirct to approval by Lender; p-nvidcd•
<br /> that such approval shall not be unreasonably withheld. All premiums on insurance prrilick thatll he paid in the manner
<br /> provided under rparagnAph Z hereof or, if not paid in such manner, by Burrower making payment, when due, directly to the
<br /> insurance crr: icr.
<br /> All ;nsurance policies and renewals thereof shall be in form acceptabic to Lender and shall include a standard mortgage
<br /> clause in favor of and in form accer5ab0e to Lender. Lender shall have the right to hold the policies and renewals thereof.
<br /> and Borrower shall promptly furnish to Lender all rene"I notice" and all receipts of paid prciltiums. In the extent of ?oss,
<br /> Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of I(ns it not made promptly
<br /> by Borrower.
<br /> Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to resrorataon or repair of
<br /> the Property damaged, provided such restoration or repair i% economically ieasible and *he we-urity of this Deed of Tnist is
<br /> not thereby impaired. If such restoration or repair is not economically f •as:blt or if the security of this Deed of Trtsst could
<br /> he impaired, the insurance proceeds shall be applied to the sums secured by this Deed of Trust, with the cxcevt, if any, paid
<br /> to Borrolh-cr. If The Property is abandoned by Borrower, or if Borrower fails to r~:xpond ca Lender within 30 days from the
<br /> date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits- Lender
<br /> is authorized to collect and apply the insurance proceeds at Lrndcrs option either to rzi:oraiien or repair of the Propersy
<br /> or tcs the suers secured by this Deed of Trust.
<br /> Unless lender and lorrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br /> or postpone the due date of the monthly installments referred to in paragraphs t and 2 hereof or change the amount of
<br /> such installments. If cinder paragraph IS hereof the Property is acquired by Lender, all right, title and inters, i of Borrower
<br /> in and to any insurance policies and in and to the proceeds thca-tof resulting from damage to the property p for to the sale.
<br /> or acquisition shall pass to Linder to the extent of the sums secured by this Deed of Trust immediately prior to st Ch sate or
<br /> acquisition,
<br /> 6, >Prrscrsation and 1141rinfenance of Property: Leaseholds, Condominiums; Planned Unk 1)evelopmeals. Borr(,c.wr
<br /> sliall keep the Property in Food repair :toad -shalt not ccamrw Aasty or perrnit impatrnaernt or deterioration of the Picr;arrty
<br /> and shall comply with the provisions of any ttas+^ if this Decd of -Trust is on a leaseholci- If this Deed of Trust is vn a unit in ;r
<br /> condoininium of a planned unit development, Borrower shaft pecform all Of borrower's c!+ligatiom under the declaration
<br /> or covenants creating or govcrnine the condominium or planned unit development, the by-laws and reguiatic.,ns of the
<br /> condominium or planned unit development, and constituent dcrcumcrts. If a cnndominiurn or planned tint development
<br /> sir err is executed by Borrower and recorded together with this Deed of Trust. the covenants and a.grccmcnt5 of such rider
<br /> shall be incorporated into and shalt arrcnd and supplement Olae t:7vea;ants and agreements of this Deed of Trust as if the rider
<br /> v,crc a part hereof.
<br /> 7. Proseetioo of Lender"s Security. If Borrower fails is tXrform i1•te covenants and agreement.- contaaincd in thaw
<br /> Beed of Trust, or if any action or prmuteding is commenced which materially rfferts I-ender's interest in the Property,
<br /> indcding; tart not lirnited to eminent domain, insolvency, code enfcrcrn1tn!, or arrangrmcrats rar prozce<!,n,i inut>?aizzg a
<br /> K,inkrupt or decedent, then Lender at Lcrtdc;'s option, upon notice to F3nrrrrMe; ;stony make such appc:arancea, di-,burse such
<br /> sums and take such action as is necessary •o protect Lender's interest, irvJuding, but not limitcii to, tirslwrsenacni of
<br /> r-esoni:hle :a1N>rT)ey's fees and entry upon the Properiv to nsa-;c rcpairs. If Lenlcr required mortgapc insurarir.e a~, a
<br /> rondivoxi of making the loan secured by this (.,teed of "Trirst, Po+ ,rowri shall pay the premiums nrtluir'ed ti, ns.tintain such
<br /> ir.,w ance in rtfezt until such time as the requircrnent t`c~t s ,~th insurance terminate: in arecrdartce with Bnn-oK rr's and
<br /> t-tinder's writttr, agrccrncrt or applicahtc ixw, Btarta.ser shall Pay the .1-oLint of ail rasortgagt insurance premiums in the
<br /> rnann-r F:ravidev ar der pa1'agraph 2 ht:rcof.
<br /> Any arnounts disbursed by Lender txrrsuant to this psrasgraph 7. with intert:nt thereon. shall become additional
<br /> indchlydness of 8orrcrarer sccurcd by this Deed of Trust- Unirtt Borrower and Lender agree to other te: ms of payment, such
<br /> :r,t*atnts shall tr p3)TAblc upon notice frorr, lender to Borrower requesting payrAcril thereof, and shalt hear interest from the
<br /> date. of di burs=cnt at the rate payabtc from time to tient on outstanding principal sulkier the Mote unless paavmtnt of intcrrtt
<br /> at easeh rate would t•r. contrary to applicable law, in which event such amatrniti '"halt gear inters,'? at the highest rate
<br /> pertnk,si'ble tinder app#icebte law. Noihint cisntai,ned in this paragraph 7 shall require finder to incur any expense or take
<br /> j ttr!n a~t"Yt".';rflflCr. .
<br /> ft. Istxfiettinra. I,tnecr may makc oz caust: to he made reas~tra$lr entries upoon ansf inspections of the I':clSCrtY, provided
<br /> x T ;r s 1'r si j,o• r::wrr toner pr:.:r to atsv such imptction Spi`:ifyiaaq re:a:onabk cause thcaefor rcirtt?1 to Lerrc[r.r's f
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