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<br /> }- � � ` UNIFORM COVENANTS.Borrower and Lender c�venant and agree as follows: ' 9�'� ���.�� ��` :. � �.
<br /> •- ,;'v._. �. .
<br /> --.-= - - -- �, ��8p p�fq��1�Bor►o6ver shalt prompttY paY wben due the prificipai and interest indebtedness . . L L . ,
<br /> :_.:-� ,. _--.__
<br /> � � evtdenced by the Note and taie chan3es as Provideid in;th�iVote. ; t, � ='
<br /> `` 2. FundstotTa�ces and tnauran�e.Subject W applicabte law or awritmn w�iver by Lender,Bortawershatl payto Lender ; .
<br /> � � . `,� . onttae day rrionthly paymenb of p►irtaipat and irrterQst are payable undsr tha Note.uMii the NoYe is pa�d in tull.a�um(heretn 4..; _t ^: +. ;.,. -
<br /> � "F�arids")equal to one�twa l ft h o f t he ye a r[y t a x e s and assessments(including condomtnium and ptan��unit dev�toRm�rtt ,4,. r 4.
<br /> . , assessme�s,ifarry)whfchmayattainpriorityoverthis�eedofTrust,ar�dgrou�drentsantheProperly. KP uso��el� r �. #.
<br /> . � . .. � af yaarly premium instalimenb tor bazard insurance,Plus on�twetfth oi yearty pr�mium inst�ltments br martgage : ,
<br /> , �: f; ,:�`t ifarry.aUasreasonabiyesdmffiedin�iallyandfromtimatotimebyLenderontheb�sisotassessmerdsandb�isandreasonabie ; .}� ���
<br /> ' estimates4hereaf.Borrower shail not be obltgatedto maKe such paymerns o!Fimds to Lendarto theexter�tthat Batro�n►ar makes t_
<br /> �
<br /> '` ' -`� s u c h p a y m e n t s t o t h e h o l d e r o?a prior mort g a ge or deed of trust if such hotder[s an institutlona!tender. ,. ` , :..'
<br /> y �� !f B o r r o w er pa y s Funds to Lender.the Funds shali be held in an inst i tut ion t he de p o s i t s o r a c c o u r►t s o f v y h i o 4�a re i n s u r e d � :.-
<br /> ot guaranteed by a Federal or state agency(inc�uding Len der i i L en der i s s u c h a n i n s t i h�t i o n)•L e�s d e t s h a��a P P h►�►e Wnds ` "- _`
<br /> ' � �h t q�insu r ance premiums and ground renta Lender may not charge tor so hotding and applyin9 `-
<br /> • ta pay sai�.� s: Borrower interest .
<br /> � . theFunds,�n��untorverifyingandcompiiingsaidassessmentsandbitls.unlessLenderpays , .
<br />� �, ` . ` ` on the Funds and appticabte law permits lenderto make such act�arga Borrower andgLned untess such g'reemen s ade or .
<br /> ' � of execu�on of this Deed of Trust that interest on the Funds shaU be patd to Borrower, . .. �
<br /> - ` applicabte law requtres such interest to be paid,Lender shail not be requlred ta pay Borrower any interest or earnings on the `t: '��.,; r ,•.
<br /> ''. �. Fundalendershallg i ve t o Bo r r�a ehd y r i t h�tothe F� dswasmad TheFundsareptedgedasa di�onaise rity4orthe ums • .
<br /> . ` Fundsartdthepurposeforwi�icheac � r: . : �-•°�.�-.
<br /> secured by this Deed of Trust. {e riartotheduo �� -. :::<.°'
<br /> � � ± Iftheamountoftfte�undshetdbyLender,togetherwiththefuturemonthlyinstaltmeMsofFurtdspayab p� �` � ���;;:�_
<br />}- � �. � datss of taxes,assessmer�ts.insurance premiums and ground rents.shall e�d the amount aequired ta pay said taxes, _
<br /> : ts '� � :, �
<br /> ` � ' assessmerns,inswance premiums and ground rents as thay taSl du�such exc�ss shall be,at Borrower's o�on.either promptly , . : . ;�
<br /> � � � repaldto6ortowerorcreditedtQBorrov�eronmonthtyinstaltmer�tsofFunds.IftheamountaftheFundsheldbyLertdershal� F�.. .'..-..�'.�.,�
<br /> ' � ' notbesufficienttopaytaxes,assessmerds.InsurancepremtumsandgroundrenLsastheytalldae.Borrowershalipaytolertder ;,�
<br /> _ . �,S any amount necessary to make up tfie deftclency in ane or more payments as Lender may�equfre. ;� �x ���::
<br /> �� Upon payrtent in tull of ail sums secured by this Qeed of Tivst,Lender shati pmmptly retund to BoROV+er arry Fun�s held _
<br /> •. • ��. �-—
<br />{.'� , byLender.ttunderparagrapht7hsreofthePropertyissotdorthePropertyisotherwiseacquF R�he4def�Le deratthetim1e� . �' .�'�--°
<br /> •� � no later than immediatefy prlor to the sate of the Property or its acquisttion by Lender,any mY ��-�.;`,,;.
<br /> � o!applicatton as a cred[t against the sums secured by ihis Deed of T►ust. °Y�_�_ �.
<br /> - - ' � 3. Appltc�tton of Paymen4a Untess applicabte�aw provides othen�visa,all paymerns recetved bY Lender under the Nata
<br />-lt'' � and paragraphs 1 and 2 hereaf shatl be applied by Lender flrst in payment of amounts payabte to Lertder by Borrower under ��:y�-
<br /> , � . � paragraph 2 hereof,then w interest payable on the iVote.and then to the pdncipal of the Nots. . •r'���
<br /> ` 4. Priorl4tortgagesandDeedsoflin�st;Charges;Llens.Borrowers4�alipertormaHoiBorrower'sobtigationsunderarry 1 ,�
<br /> -,.. �_��
<br /> ` �__ ; m�ag�����;���;;.,�;�s;;;s•agre�msnt�rj�ha!lenwhichhasprioriryoverthisneedofTrust,including6arrowePs _ �_..
<br /> " cuvenants to make payments when due.Bcrrower shall pay or cause to be paid all taxes,assessments antl otner charges.fi� �._
<br /> • � andtmpasiiiotisattributabletothePropertywhichmayattatnapriorityoverthisDeedotTrust,andleaseholdpaymenLsorground , ;.�,�°:.
<br />-_ .. . ��,,r_;
<br />= � rents,if any.
<br /> 5. Ha�c�Insurance.Borrower shall keep the improvements now existing or hereafter erected on the Property insured ����;:.
<br /> ^ � • against foss by flre.hazards inctuded within tfie term extended coverage';and such other hazards as L.ender may�equire , ��. ,:;;.,„
<br /> � and in such amounts and tor such periads as Lender may require. . _ '. ��'t:_
<br /> ,.` The inaurance carrler provid�ng the insurance shail by chosen by Borrower subject to approval by Lender,provided.that ,, �,; :
<br />- ' � such approvai shail not ba unreasonably withhetd.Alt insurance policies and renewals thereof shall be�n a form acceptabte � ,;�:
<br /> � to Lendet and shap inctude a standard mortgage clause in tavor o!and in a torm acceptable 4o Lender.Lender shall have tt�e •'.�_
<br /> rightto hoid the po8cies and renewals thereof,subjact to the terms of any moRgage,deed of trust or other security agreement -_
<br /> � with a lien which has prloriry over this Oeed ot Trust. - �
<br /> '. In tha event ot toss,Borrower sfiaii give prompt nottce to the insurance carrier and Lender.Lender may make praof of toss . � :�_
<br /> �,�� � if not made promptty by Borrower. � �
<br /> � If the Property is abandoned by Bottower,or it Bonower taits to respond to Lender within 30 days from the date notice is .�. .,..�
<br /> •: maitedbyl.endertoBoso��aroh��ng��de�ropUone hertor�estoratlonorepairofthaPropertyortohe umssecued :
<br /> ,�� , � to coAect and apPh►the p �
<br /> , � � ± by this�eed of Trust. ' � .
<br /> : t 6. Presenratdon and Maintenance of Property;Leaset�olds;Condominiums;Ptanned UnitOevetopmen4a Borrower
<br /> • � s h a i l k e e p t h e P r o pe r t y in good re pair and shail not commit waste or permit impairment or deterloratlon ot the Properly and • . .
<br /> . � . shali comply with the provisions et arry lease if tfiis Deed ot Trust is on a leasehald.I t t h is Dee d o f'[�u s t I s o n a u n i t i n a , : . .
<br /> c o n d o m i n i u m o r a p t a n n e d u n i t d evelo pment,Borrower shail peKorm ail ot Borrower's obttgations under the declaratton or , , • �
<br />� . . i covenar�tscreatingorgove7ningthecondominiumorpiannedunitdevetopment,thebydawaendregutationsofthecondominium . �
<br /> , or pianned unit devetapment,and constltuent documants.
<br /> � 7. Protection ot Lender's Security.it Borrower fails to partorm the covenanta and agreements contatned in this Deed �„
<br /> .�y� ' . � � of Trust�or if any action or proceeding is commenced which materlally affecta Lender's irrterest in ths Prcperty,then Lender, .
<br /> • at Lender'soption,upon noticeto Borrowar,may makesuch appearances,disburse such sums,inctuding reasonable attorneys'
<br /> ' � � tees,and take such action as is necessary to protect Lender's interest.if Lender required mortgage insurance as a condltion . ..
<br /> of makingthe toan secured bythis Daed of Trust,Borrower shall paythe premiums requiredta maintain such insurance in eNect
<br /> � untilsuchtimeastherequirementiorsuchinsuranceterminatesinaccordancewith8orrower'sandLender'swrittenagreement � .,, .
<br /> .. � ot appticable law � �
<br /> �. , . � Arry amounts disbursed by Lender pursuant to this paragreph 7,with interest thereon,at the Note rate,shall beco n'
<br /> additional indebtedness o!Banower secured by this Deed of Trust.Unless Borrawer and Lender agree to other tetms of paym
<br /> � . � such amounts shall be payable upon notico from Lender to Borrowet requesting payment thereof.Nothing contained in this
<br /> . , paragraph 7 shall require Lender to incur any e�ense or take any action he►eunder. �
<br /> _ . � '� �. Inspectton.Lender may make or cause to be made reasonable entries upon and inspections of the Property,pravided
<br /> � . . that Lendar shal!give Borrower notice peior to any such inspection specitying reasonable cause theretor related to Lender's
<br /> � interest in the Property. '
<br /> i 9. Condemna4ion.The proceeds of any award or claim for damages,direct or consequentiai.in connection with any
<br /> '' � � � � � � condemnation or other talcing of the Propeity,or part thereo},or for conveyance in lieu ot condemnaUon.aze hereby assigned .
<br /> �'•�'° � and shari be paid to Lender,subJeci to the terms of any mortgage,deed of trust or other securlty agreement with a lien which .
<br /> has prioriry over this Deed of Trust. � . � _�
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