|
- '...&.:.. . ;j . .:
<br /> ,.� '.fY��. . '.- � •-„ 'X�
<br /> , . .i a '.�c.��� ...��_-,-.... _L _ -S �.. ... � ... ' 'i- ; .-.': .'�� -��(L
<br /> L
<br /> ___ .�'_f: . . . � � --_.— .. . �. .---_ ` . . . _ -- __ - _ _ —:� ___
<br /> . . . . . ' � ' . .. `
<br /> �. . •
<br /> .. .- , � . . , . . . . . . ..
<br /> � C . • . � . . . . � t. .. .1. . , � � '�l� `�r. ��S
<br /> ... _ -"�C _ � Y ,- _a " • �� ' ._ _ i. � �.kr�-� , c�'
<br /> � T.. - � �ctt—__.�.1��--— '_-" +.��,._ — ��._,_..�'4.�'.'.3
<br /> ' _ � S2 r � _ -�..��. --� O , _ . Cf�.�:
<br />. � . . - � • . . ' . . "h�
<br />.. ' .. . ' � . �.. . .'1 0 .
<br /> , , � � '' We may choose the insurance oomga�►subject to approval by Mesrill Lynch,provided that such appmval may not be � ` �•. :
<br /> � . - unreasonably withhetd. Ali'msurance policies,including renev+als,must be in a form aooeptable to Merr71 Lynch aad must include a L. `` " .
<br /> - � - •��;-;:� standard mortgagee clause in fa�or of and in a form ascepiah2e to Meuill Lynch. Merritl Lynch shall have the sigltt to hotd the :,��_-= r__.__: �;�
<br /> , policies and r�ewals.subject to the terms of aay mortgage.deed of uust or other seauity agreemeat wtuch is prior to ti�Qeed of t
<br /> ` Tmst. If we pay the premiums di�ectly.we s h a l l pmmp t ly f u m i s h to Me r ri l l L y n z h a l l r e n e w a l n o d ce s a n d,i f r e q u e s[e d b y M e m'l l� .`
<br /> � '. Lynch.all neoeipts of paid premiums. If Qoliaes and reaewals are held hy any other pecson,we shall supply cogies of them to� . , ,
<br /> .'. Merrill Lyncit vvithin ten(10)caleadar days after t�ey are isaued. � ' _'� ,,.,' ..
<br /> . `�
<br /> 1n the event of toss,we shall give psvmpt notice w the ias�uancc campanY and Nfem'll Lyash. Merrill Lynch may make'� , � - ��
<br /> _ — pmof of loss if not made pmmpdy by us. � • • �° �.�� -
<br /> �.< _.
<br /> :•-�
<br /> ._ .. ,-- � , ---�`�•� —
<br /> , Subject to the rigbts aad terms of aay mortgage.deed of trust or ot�er seauity agceement which is prior to ihis Deal of� _ - -,
<br /> � �, Ttast,the amounts coltected by us or Merrill Lynch under aay Harard 'msuranoe policy may,at Menill Lynch's sole discretion, � . . .
<br /> � either 6e applied to ths sums secured by tLis Deed of Trust(after paymeat of atl reasonable aosts, expenses aad attomeYs' fces - ,
<br /> . � �Y Paid or ina�rred by MerriU Lynch and us in this connection)and in whatcwer order Mem"Il Lyacb may detecmine or be , - `_ ,
<br /> � � • retQased to us for use in repairing or nconsuucting the Pcoperty. Merrill Lynch has the awhority to do aay of the above. _ . . ..
<br /> � Regazdless of auy appllcation or release by Mea�71 Lynch,as descn'bed above,this shail noi cure or waive any defimlt or notice of , -� • -
<br /> . .. defa�ilt ander this Deed of Trusc or urvaUdare aay act done puisvaat w such notice. • ". --
<br /> • 'E°
<br /> . ~ �;. If the Property is alsandoned by us,or if we fa�to respond to Mem71 LyncU in writing withia thirry(30)caloadar days ""'?�
<br /> r'� fmm the date notice#s givea w us by Mem71 Lynch that the iasucaace company affers to settle a claiu►for insarance benefits. . , �'
<br /> • . MemU Lynch shall have the awhority w settie the claim and to coltect and apply the insarance pnoceeds az Merrill Lyncl�'s so2e --
<br /> ". , optioa ehhec to reswratioa or repair of the Property or to the sums secared by this Deed of Trust. .�:��'i:±r�.s
<br /> ,�,:�..---
<br /> • If the Propeny fis acquired by MecrU Lync6,all of our right,title and interest in and to aay insaranse pmceeds resnlaag ' ,�_
<br /> � '., finm damage to the Pmpecty prior to such acquisition sha11 became the property of Me�U Lynch to the eateat of the sums seaued by �
<br /> � � . ttus De�of Tnist immeidi£:�i:ly prior to such acqaisiuon. ' _ ;;�.�?�-
<br /> , : ;' �:'=,---
<br /> . , 4 . S.Presesvatton aud Maintenanse of Prooertv Leaseitoids:Condominfca�Ptanned Unit Develonmeuts.We sball: '� �` '�":_,•,•':�,�
<br /> ' i..Q,•cr__..
<br /> .... ...-... _ (a)�,�Prove and maintaiu the Pra�erty ia compliance with applicable laws,statutes,ordmaaces,orders.requ�remenu,decrees or � �
<br /> _`...ir;.:.;
<br /> . regulations;(b)keep�he prupeny in good condiston and repaff,iacIudMg the repair or restoratIoa of airy impmvemeats on tT�e : • ':,;^
<br />.. '� proPerry which may be damaged or destroyed, and s1�a11 PaY when due all claims for labor perfo�med aud materials fumished - rr:��,��
<br /> � � therefore;(c)aot cummit or permit wasce ar permia impairment or deterioration of che Pmperty;and(�fuUy and promptiy compty ;::�.,.r•�,,:�.a
<br /> . . with the pravisions of any lease if this Deed of Trast is on a leas�otd. . ��'�-'
<br /> ,{: • �';:�
<br /> : ..• . . ..<<_.
<br />. .. _ -� .. - -
<br /> ' � • If this Deed of Tnut is on a unit in a condomininm pmject or a ]anaed unit devel ment.we shall m erform ' •�'�'
<br /> . P oP P �YP .::•:r �_
<br /> all of our obltgadoas uader the declaiation oa covenanu cmatiag or governing the wndominium pmject or planned unit , ' ' ��
<br /> � �<< development,and the by-laws,re�ulaiions ancl o�r dacuments of the condominium pmject or planned unit development,including 1._.�.:�. .. �°,;t��`_°
<br /> ` � ..� aay amendments. If a wndo m i n i u m ar p l a n n e d unit deve lopmen t r l d e r i s e x e r u t e d b y u s an d r e c o M e d t o g e t h er with this Deed of . . _;:�;,_
<br /> ' ' , Trust,the covenaats aad agreements of thai rider shall berome a part of tbis Deed of'rrust as if the rider were included in this , `�`
<br /> . . dacument�tself. • ��. =�s'��=
<br /> :..�
<br /> : :;�,,�.,
<br /> 6.PcoterNon ot Merrill Lvnch's SewsiiY_VUe shall appear in and defend any action or pmo�ding putportiug w affect
<br /> � the security of Wis Deed of Ttust or the righu or poweis of Me�rrill Lynch or Trustee under this Deed or Ttust. � �,�'"'�
<br /> _ . . '` •1'�"r
<br /> � . . � ` If we fail to do wlnat is required of us in this Deed of Ttust or the persons who aign the Agreement fail w do what is .' �:
<br /> required of them under the Agreement,or if any aciion or pmceeding is commenced naming Merrill Lyncb as a parry or affecting , . +'"'i"-
<br /> - Merrlli Lyncb's�nterest ia the Property or the rights or powers of Merrill Lyvsb or Trustec,t hen M e r r U l L y n r d�or T r u s t e e w i W o n t � ��'._�`:�'
<br /> ". . '�:� demand upon ns but upon aotice to us as pmvided in paragraph 11 below,�ay.aithout releasing us from any obligation under this �
<br /> - � Deed of Trust,do whatever Merrill Lynch or Tnistee believes is necessary, induding aay disbursement of.funds,to pmtect the .
<br /> .. ' securIty of this Deed of Tn�st. . ,. . .-
<br /> � � ' � Jf Merrill Lyncb has requ'aed mortgage hisuraace as a condition of opeaing the Account,we shall pay the premiums . � _
<br /> � required to mai�uain that insurance in effect until it is no loeg�required by MerriU Lynch or applicable law. �-
<br /> ��.°j • . Any amounts disbursed by Merrill Lynch or Tn;s:ee pursuant to this paragraph 6,with interest at the�zTiable interest �.. • . :
<br /> � rate in effect under the Agreement from time to tlme,sball be paid by us and are secured by this Deed of Trust. Unless we agr�,in .
<br /> . s writing, with Merrill Lynch to other terms of payment, such amouats skall be paya b le upon request o f Merri l l Lync h. N e i t h e r _
<br /> , �. '� Merrill Lynch nor Trustee are ever required to incw any expense or take�y action under this Deed of Ttust aad any action taken � : , .
<br /> shall noi release us from any obligation in this Deed of Trust. .
<br /> ' . 7.1 on.Merrlll Lyncb may make or canse to be made reasonable entries upon and inspectlons of the Property. � . _ •
<br /> � Unless ie is an emergency.Merrill Lynch shall give as notice(see pa�agraph Il belmv)prior to an inspection specifying reasonable �
<br /> . i cause for the inspection. �
<br /> �
<br /> � � .�1 �. Condemnation. A taking of property by any govemmental suthority by eminent domalu is known as a
<br /> � • 1 "condemnation." The proceeds of any awazd or claim for damagea, direct or wnsequential, relating to any condemnation, � .
<br /> � � conveyance or other taking of ali or part of the Propeny,are hereby assigned and shall be paid to Merrill Lynch,subject to the terms of .
<br /> . � any mortgage.deed of trust or other securiry agreement which is prior to this Deed of Trust. We agree to eaecute • •
<br /> . � .
<br /> :,� . .3 .
<br /> x .
<br /> . � .. . .
<br /> - , t
<br /> _ � . . �,
<br /> . �_ .---=---
<br /> , ; • .
<br /> :t. '�
<br /> r--�;:��:�..
<br /> .,
<br /> __-;—�.-�-,.,�
<br /> . ,
<br /> .;• , • . . .. , . . .
<br /> ., . .
<br /> ' !in. • .._,. � v.. �. .�. ....�.. .� _.. . . . . . .. ._... ...... • . . ...1 . _.. . _. ._.t�.t.t _ _...._ . .. .. .. . ... � 4-.��f.^z3.lwt.i
<br />- _..i _.._.�.i���.i�.i. . ........_ �_..._...._�..J]._. .._�.»_.. . .f� tf.
<br />
|