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<br /> 209700 12/23/1996 cr<`"----.--..-d.__--
<br /> �� RICHA[?.D W CONRAD DSNA COD7IiAD '�r�,r"z��``.��
<br /> �1NIFORM COVENANTS. Horrower�nd I.tnder coveis.uit and agree ns follows: � g��0�� ,
<br /> � 1. i't�yn�ent oP Pr�ncipal a�ed Int¢rest. Bormwee shaU peoma8y pny ��licn duc the principal nn� interest
<br /> _. ,� indebted��ess evidei�ced by the Noce and late ci�arges:u provicied in the Note. _ _ _
<br /> Z. Funt�s for Troc�And Insuraeiee. Subject ro npplicahle law or a writiru�x�►lvc�r�y t.cnd�r. Enrro::'er slta!!p�;t��
<br /> I Lx�Kter un tlic day nwnthly paynxnts of pritK:ipal and interest are �ayable uuder d�e Nute, undl tt�e Note is paid iu full,n
<br /> xuu�(licrein "Fu�xis")eyual to �me-twelfth uf die yearly tAaes and a5ses.snients(iixluding�:o�xtomhiium and plaQU�ed unit
<br /> developmeut atisessn�ents. if uny)whicU n�ay utt�in prl��dry over this Deed of Trust.aixi gmunci rents ai�tue PropertY. if .. •
<br /> Hny,plus one-twclfti�of yearly prenuun�in5tallments for huz:trJ b�ss�rance.plus one-twelftli of yearly prenuun�ii�tal�n�ents _
<br /> for n�ortgage iasutauce. if any. nll as trA.wnably esdnwted U�ltially and fram time ro tinie Uy Le��ler an tlie basis of
<br /> a.�.seswn�ents aad biUs wid teas�u�ble esduutes thereof. Banower shall nat be obltgated to n�ake sush pay[ucnts of Fuuds
<br /> ,,,.,,F:.y:�� to Lender to the eatent thac Bonow�r u�akes such payn�ents to die halder of a pdor a�octgage or deed af tivst if such holder
<br /> ,�w . is an institudonal lender.
<br /> If Bonower pays Funds to Lender, tde Funds shall be held iu aa Iasritudon the deposits or accounts of wfucU are
<br /> insured or guaranteed by n Federal or state agency (ipcluding Lender if Lender is such an insdtution). Lender shall apply ......,,
<br /> the Funds to pay said taaes,assessraeats,iasurance premluins and grouad rents. Lender may not charge for sa 1►oldin8 and , ,., ;����`YE,:
<br /> , applying the Funds, analyzing said accouut or verifying aad compiling said assessments and bills, unless I.ender pays s:�.."..�ti-___
<br /> ; Borrower iaterest on the Funds and applicatrl�law pemiIts I.ender to a�ake such a chsuge. Hormwer and Ixnder way agree ••_ :v..;•;=__
<br /> '; in writiug at the time of eaecution of this Deed of Tnut that interest on the Funds shaU be Pud to Borrower,and unless •
<br /> sucb agreement is made or applic�ble law requires such inurest ca�be aid.Lender shxll not be required to pay Bonower �•;���:`�
<br /> '' any Interest or earnings on the Tunds. Le�er shalt give to Borcower.without charge,an annual accuuntin8 of the Funds �'"_ -
<br /> � � ', showing credits auci deUtts to ihe �unds aa�the PurPps: for wbich ea�te debit to the Funds was made. Thc Funds are -_
<br /> pledged as addidonal securiry for the sums secum d by t h is Uee d o f T c u s t. ��_f_
<br /> h - -�,
<br /> � If the amount of the Funds held by Lender,together wlth the future monchly installmeats of Funds paYable pdor to
<br /> ` � the due dates of taxes. assessments. insurancc premiums:►nd Sround rents,slaall exceed the amount reyuired to pay said �_:,_ _
<br /> . � � ta�ces. assessments, insuraBCe preaiivn�s and gr°und rents as they fall due. such excess shall be, ac Borrower's opdon, —_---
<br /> eit�er prvmptly repuid to Borrower or credited to Borrower on montWy iastallments of I�unds. If the amount of the Funcls �
<br /> � � held by Lender shall not be sut�cient to pay taxes.assessments. iasurance premiums and Bround rents a�theY fall due.
<br /> '�"�`� Burrowee shall pay to I.ender any amount necessary to make up tLe deficiency in oae or mon payments as Lender may �__�,
<br /> ) -
<br /> , '�`�' requ�re.
<br /> { Upon payment In full of all sums secured by this Deed of Tcust. I.cnder shall prompdy refund to Boaower any Funds
<br /> �� � held by Lenclsr. If under pxragraph 17 hereof the Property is sold or the Property is otherwlse acquired by I.ender.Leader ��.
<br /> spait apply. uo tacer wan iuuix�iiniely pt$�r t:,th:, a.l�of she P��rs; ^*ir�acnuicidon by L.ender. anY Funds held by _
<br /> ' � Lender at the dme of appltcadc�n as a credit against the sums secur�d bY�his Deed o£Tcust.
<br /> "', 3. Appiication uF Payr��me. Ur�less applicable law p.rovides otherwlse,all payments received by Ixnder��er the
<br /> � •• ' Noie and paragraphs 1 and 2 hereof shall be applied by Lender Hrst In paya�ent of amoiuns payable to I.ender by�t�rrower
<br />="-. � under paragraph 2 hereof,then to interest payable on the Note,and then co the principal of the Note.
<br /> ' 4. Prior Mortga�es and Deecl9 of Tn�t; C�harges; Lla�s•Horrower shall perform all of�laaower's obllgadons _
<br />*wr�. :�r:, under any mortgage, deed of aust or ather security agreemeat wttli a lien which has priority over tWs Deed of Tnut. ;_
<br /> ��_-
<br />=;:;- �� �. :,. includiug Borrower's covenanis to make payments when ch►e.Borrower shaU pay or cause to be pud all uuces,assessments ^
<br /> _-� _�+ � ••���r and other cBarges, fines and'unAosidons uttribuqble to the Properry which may atta�n a priority over ttus Deed of Tcust.
<br />-_, ';" . ". and leasehold paymeuts or ground rents.if wny.
<br />-_ .; '`,, . s, I�rd Insurance. Borrower st�all keep the Improvements now eaisdng or hereafter erectod on tho Propenty �,
<br /> -_�-;�,r,_- ins�ued against loss by 6rt,baractls included within the terna'exrended coverage",and sucli other ba�anls as Lender maY �'s
<br /> '�',�,':'_ require and in such amounts a�d for such periods as I.ender may require.
<br /> _y�:,,:,;,;�. . Tlie tnsurance carrier providing the insurance shaU be chosen by Borrower subject to approval by I.ender;pravIded,
<br /> '�_:-=-�:.�::, ,� that s�ich approval s3�all not be u�asonably withheld. All insuea�c policies and renewals tiureof shall be in A form
<br /> _,_t-.:,.;.,, ,
<br />�._��,;.-r;;,� �r:.� acceptable to Lender and shall include a stanclard mortgage clause in favor of and in a form acceptable to Lender. Lender
<br /> _�;x�r.{� � shaDl hsve tha dght to hold the policies ancl renewAls themof,subJecc to che terms of any mortgage,deed of uust or other
<br /> '=��'�:,,.;:�;• sxuriry agcament with a lien which Uas prlority over this Deed of Trnst. --- ---
<br /> �'�.��'�-''•�' In the event of loss,Borrower sh�ll give prompt nodce to tl�e insuramce carrier and Lender. I.ender may maice proof
<br /> ��.,.
<br /> -�=��'�.��;° of loss if not made promQdy by Borrower.
<br /> .-.amm:a.r�;i� '•
<br /> -��.::.i�;:,s7.:.. If the Property is abandoned by Borrower, or if Barrower fails to responcl to L�der within 30 days from the date
<br /> �"''��° -' noace is mailecl by Lender to Borrower that the insurance carrier offers to settle a claim for in5tu�nce btuefits. Lencler is
<br /> •.�r�:�•a�.- �
<br /> ��?-�::� . . outho�ized co coliect and uppiy the insurance proceeds at Lender's opdon either to cestoradon or repair of the 8aoperty or �
<br /> � to ehe sums secured by this Deed of Trust. ___-____
<br /> _ . • �. � 6. Preservat[on and Mxintena�ce of Property; I,easehalds; Condominituns; Planned Unit DevelopmeMs. _ _ —_
<br /> • �, � -.; Borrower shall kee p the PcopErry in good repair and shall not commit waste or permit impairment or deteriaration of the ���'-=,
<br /> Property and sLall costnply witL the provisions of any lease if this Deed of Trust is on a leasehold. If tlus Dee�of Tmst is �����
<br /> np
<br /> - � � � on a unit iu a condominlum or a planned unit development,Borrower shall perform a�l of Borrower's obligadons under[he �,,,.-_�_�-.�.
<br /> �...; �.
<br /> ' � declaradon or covenants creating or governing the condominium or planned wut deveiopment.the by-laws and reguladons :,.-_
<br /> � � of the condowinium or plWnned unit development.and consdtueru dociunents• `"`�'°�"'$'-;
<br /> � 7. Protedion of Lender's 5ecurlty. If Horrower fails t4 perform the covenants anci agteements contained in this • ,^ ,
<br /> • Aeed of Trust,or if any action or proceeding is commenced wtuch waterially affects Lender's inieiest in the Property,then : :.��Y..�^
<br /> ; � Lender. at I.ender's opdon, upon noace to Borcower, may make such appearances, disburse such sums. including �;"�"..°=.�;r''�`"'
<br /> .;�:��.:.•:...... .
<br /> � " reasonable attorneys' fees.and cake such action as is necessary to protect I.ender's interest. If Lender required morcgaSe -•-,.-� .
<br /> ,. ..
<br /> :.., . . .
<br /> -,--._ .__-'-___.-..-'_ " . _ .. . . ....._'��"'�t_n_�.1..tT...e• D....nwn►chnll n�v t�1P ifiLMIt1I11C[&]UlIL'��O _._____-_____.
<br /> _._._-.__�___.__T_..
<br /> insuraix:e as a conaiaon oi mvung mc�vau�;ww�y �,,.�........... ....w. ..,,..�.._. ._._._,._. -- �-- - -----------_ -
<br /> maintain such Insurance in effect until such ame as the requiren►ent for su�h insurance terminates in accordance with
<br /> Borrower's and T.ender's written agreement or applicable law. •
<br /> � ' Any amounts disbursed by Lender pursuant to this paragraph 7,with interest thereon,at the Note rate,s4a11 become
<br /> � � � additional indeUtedness of Eorrower secured by this Deed of Trust. Unless Borrower and Leuder aIIree to other tecros of
<br /> - � .. payment, sncli amounts shall be payabte upon uotice fcow L.ender to Borrower requesti�g payment tltereof. Nothing
<br /> � cantai►�ed in this paragraph 7 shall require Lendcr to incur any eapense or take any acdon hereuuder. ,
<br /> 8. Inspectton. I.encier may make ur cause to be made reas��aNte enuies upon and inspecdo�u of tue Pmperty.
<br /> , pmvided that Lender shall give Bono�ver notice prior to any such inspection spe�ifyivg reasonable r.ause therefur related to
<br /> Lender's interest in the Properry.
<br /> Ncfinskn 26876•3 I I/96 Original(Recosded) Copy(eranch? Co�y(CueBomer) Pege 2 of 5
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