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<br /> � � ':i b�RVI1+I It MCCORDY CODIIdIS MCCORDY 101733 Ol/16/1998 �,�;:.�.''��.._-- .:-'`;..
<br /> � • UNIIroRM COVENaN75. Bosower aad Lender cavr�aat aad agree as 5oltow� ��� ����� ` `.t. �
<br /> � , 1. Fay�tera3 a� Ptindpai an� Iut�. Bonower shail pma�tty PaY when dne the prindpal and intecest � ` ,'• �''�
<br /> . �:.
<br /> . ` t '. ;"
<br /> " ia�debtedaesg evideaced by the Note and Ia�e chasges as P m v i d e d in the Note. .
<br /> --_. . _. _. _ �.g�n�far Tssa anal�aoe. Sabjecx m applicab2e law ar a wdtten waiver hy Leader.Boaavrec shari Pay to E__.-�-,` _ -
<br /> _--°-�-.�--`1 Iender on the daq mo�1y PaYmears of ps�nsipai and int�est are payable�the Note.u�th�Note is gaid ia fWt.a :-.- :- - � � �
<br /> •�� sam(6enein`Funds�)equai w one-twe18L of tbe peartq taaes and ass�ments(inCludtug c�nminiam ead Plaffied amt - • s; .
<br /> un s
<br /> - ' d�weiopment as�. if aa9)which may attaia P��7+over this Dced of Tmst.and gcouad rears oa the Pragerty.if . .
<br /> _ .� 8;ty,plus ou�-twelRh Of ye2tlq p�eminm i�lme�ts for h2�Id inrn�ance,pins one-iwelfth of Y�q P�� _. �� ,x��..ti`:.;`.
<br /> for mortgage insvran,ce, if aap. all as reasonablq esdmaeed imtially aad from time to time bq Lender on the 6a�s of `
<br /> � _ ass�and b3lls sud masoaab2e estimaces theceo� Eoaowea sball not b�abligaied to make such papments of Fands . `;�; � � _ .
<br /> _ - m Iander m the�that Boao�ver makes sach paymems w[be holder of a paor m�tgage or deed of uast if sadi hotder .
<br /> . , „ -- is an���,r�e?s�t� . ,, '-' .
<br /> --.' - _ -��. If Bo�aosx�r pays Funds to I.e�er. tke F�nds�all be l�eld in aa i�on tlae dspas�ts or a�of wLich a� " `.`.--- �-
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<br /> ' Y, � msured or g�anteed by 8 Fede�al or sfat�agenoY(iuclu�ing I�er if Iendei is Such an incdtntinn).LendCr Sl�all apply _ ..
<br /> . - the P�mds p pay said�,ass�,insazat�Pre�u�s and�d�ats.Lender may�t cbarge for so hol�iing aad _
<br /> � aFPiying rhe rvnas, analy�ns satd account or verifyiug ana comp�ing saia a�aad bi1L5, t�ess Ien�er pays _
<br /> . s � ,
<br /> � ��t Bouower�nrecest on the Funds and applicab2e!aw permits Lender w m�ce soch a charge.Boaower and I.eader may�gree <�;`. � . ..�...
<br /> " 2� in writing at the dme of eaecation of tbis Dced of T�st ti�at iutet�est on the Funds shall be paid to Boaowes.aad aniess � '` .,:•., .�� �
<br /> sorh ag�meat#s made ar appZicab2e law teqaues such iaterest m be paid,Ignder sLall not be�ced to pay�oaower � :,,�.;' :_�',;
<br /> - , � � aay iaterest or ea�ngs on the F�ds. IJender sba41 give to Boaower.withont cba�ge.an affiaai accannting of the Fnnds :':•s,s;:.�. .:r
<br /> ` shavring c�edits and debits w the F�ds amfl the pw�pose for wlur�each debit[o the Fuuds was made.The F�mds are ,;�:,,,4
<br /> . . Piedged as addition�al serudt9 Sor the sams s�by this Deed of Tmst. °���,-.Y=�"
<br /> If tbe amn�t of the Fauds helcl b9 I.ender,together with tbe futme mssuhty�stallmems of Funds payable p�os w •, `-. �
<br /> � the due dates of rages,asses�nts, ias�ance P�an�8�a�d�.shall exceed the amaunt requtt+ed to pa�sid •�`,° °-
<br /> � taaes. asse�ents, in�ore P�aad gma�d�s as they fall due,sach escess s6all be.at Bo:mwer's apiion, . � ° r:� ��:.4�:.
<br />- � either pmmpdy rePaid to�oimwer ar crtdital ta Boaower om m��Lly installmients of Fands. If tbe amannt of tbe BanBs �t•��.:'
<br /> � . ` II=�
<br /> betd by I.euder sbait nat 6e sa�cient to pay tases,a�.msu�nce�a�grou�ct r�,s as�s.y fan ane,
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<br /> � •• Boaovuer sball paq w Lender aay amonnc n�r9 to make ap the deficlency in oac os more paymeuts as Ixnder maq +����-� ���:
<br /> :. , ��• , • :���-'
<br /> � UPon W'►9meni in fiill of all sums secared by t�is Deed of T:ast.Lender sbaU pzomptly iefimd to Bnsmwer any Ftmds • _'r �.�:`,�:��� .:
<br /> tceld hy Lensler.If aader patagraph 1�hereof the ProPertp is sold or the Pmpert9 is otheswjse acqaiied isp I.ender,Leader � �;;?:��.�.•_-�:
<br /> � . sUail appiq, no larer than i�ne�lY D ..�-F��
<br /> � .. . . slar w the sale of the Praperty or its aa�udon by Ixnder.anY Fimds hetd by .ry ,.�_
<br /> x.��=.
<br /> . Iender at the time of appl�Caaon as a credit agaiast the sams s�bq this Deed of Tmst. � . '�'-
<br /> �°.�.'�;,`�_
<br /> ' 3.Applis�n of�ym�. UWess applicable law pravides otherwlse,all payments ieceived by I�aWer under th$ , , . . .�;,�.�--:-.:,,,
<br /> . Nox and pa�apl�s 1 and 2 henoof shaU be applied by I.euder fns�inpaymeut of amaunts payable oo Lender by Boaovicer � `,�':��-�:
<br /> ; 3 �der ga�ph 2 hereo�then to inteiest payable on the Note.and tben to the p�incipal of die Note. '-.: : ��t..
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<br /> - � 4. Prlor Mos4ga�es and Deeds of'�'rust;C�argcs�Idea4. Boaower sSaU pedoim all of Bm�mwer's ob�igations '., ,. _ �_ �, „
<br /> ` � m�er suq mortgage.deed of tmst or ot6er seca�ity agreemeni with a lien wbic6 Las prioritY aver this Deed of Tcus�t, � ,�'� +°"
<br /> , iactading Boaowec's cavenants to mage payments whea dne.Borrower shall pay or t�osc to be paiA all taaes.ass� '''.�*;`
<br /> ' � and otber c�ges.Snes and la+positioag aaa'bntab2c w the Pmperty wLich map attain a ps3orIty over dds Deod of Tzast. . .:�,�+
<br /> ;��„�Q
<br /> . . . �` aaA Ieaseho2d paynue�os Smuad rents,if a�+• .
<br /> � S. Ha�rd�sm�anae. Borrovrer shall keep the improvements nnw exisang or he�eafter encted on the Pmperty �•�
<br /> : � insuned agaiffit loss by fue.h�rds included within the term°eateaded coverdge'.aad sach othez�ids as Lender may � ... .• �,
<br /> • , . reqttite avd in such amuunts aad for such perlods as I.ender may requite. "'��.�
<br /> _ TLa�e caafer pravicting the insniance shatl be chosen isy Boaower sabject to appmval by Lender;pmvided, •��'" "
<br /> - tbat soch apptoval sbari not be anreason�blq witLhe2d AU insa:anre poficIes and reaewaLs thezeof sbaU be in a foim ' � � %*��
<br /> an t e
<br /> � � . , ar,r.eptabte to Lender and sball incinde a standard mflngage clanse in favor of aad ia a fo:m acceptable w I.ender. Lender �'��`.
<br /> aa
<br /> ` � ' �• sbaU bave the right to hNd the pol�cies and renewals thereo�sabject to the terms of auy mortgage.deed of�ost or atber .,�'�
<br /> secarity agseement wltb a llen wWch bas prlorlry over this Dced of Tmst
<br /> � , In the event of loss,Bormwer shaU give prompt notice m the insoian�ee cazuer and Leuder.I.ender may make proof � . . .
<br /> �" of Ios4 if not made PmmpdY bY Botrower. • .
<br /> � 1f the Property�S abandoaed by Bormwer,oi�f Borrower gails to respoad to Iender a+ithin 30 Qays from the date . . ���L
<br /> � nodce�s ma�ed by Len�.�z to Borrower tbat the imurance cam�er offeis to seale a claim fo:•^�,,,n^^p benefits.Lender is ° '.:
<br /> � � autharl7ed to coIIect aad apply the ins�uance pmceeds at Lender's option either to iesEoration or repair of the Property o: . _ '
<br /> ., . to the sums sec�ued by tLis Deed of Tiasc. • �.
<br /> . 6. Pt+esesvatton end Malnienance of ProPa49; Leascholdg3 Condaminimas3 �ed Unit Dsve�opmcnts. • • .
<br /> Bonawer sLall kap t��mperty in good repair and shall not commit waste csa pecmit impairment ar deteiiosadoa of the ' � . ,
<br /> . . � Pmperny and shall compiy wttb the provisions of any lease if this Deed of Tmst is on a leasehold.If tbis Deed of Tmst is . . :
<br /> on a�udt in a coado�nimn or a planned unit development,Borrower s6all petfomt all of Bouowe:'s obligadons wnder the
<br /> i decl�ation or covenants cread�ng or gove�ng die cundominium or plaaned unit development.the by-laws and regntations -��
<br /> � of the condnmialum os planaed anit deve2opment,aad constituent doaiments. . . .
<br /> 7. Protettton oY Lender's�ftq. lf Bomower fails to pe�fo:m the cavenaats and a$reements contained in this
<br /> ! Deed of TmSt,or if any acdon or pmcceding is cammenced which materially a�'eMs Lender's inte�est in the ProperiY,then ,
<br /> � Lender. at Lender's opdon. upon nodce to Borrower. may make snch appeatances. dlsburse such sums. inctadln8 . .
<br /> �. � reasona6le attorneys' fees.and take snch acdon as is necessary co protect Lender's�nterest. If Lender iequired mortga8e .
<br /> : � insurauce as a wnditton of maldng the loan secvred by this Deed of T�nst.Borrower slrall pay the premiums requtred to � . .
<br /> � mainmin such insuranse in effect until such time as the reqnirement for sncL insurance te�inates in accordance wlth ';
<br /> � Bomawer's and Leader's wrItten agreement or applicable law. . .� �
<br /> � � Aay amounts disburs�d by Lender punvant ta this paza�aph 7,with interest thereon,at the Note iate.shall bocomo ; � � �
<br /> . addiEional indebtednesc of Bosower sec�ued by this Deed of Tn�st. Unless Bo:rower and Lender agcee to other teims of ;
<br /> � paymeat� suc6 amounts svall be payable upon nndce from Lender to Borrower requesdng payment thereof. Nothing � �
<br /> � � contained in tbis paragiapL 7 shnll require Lender to incur any expease or take anyr acdon hereunder. � �.
<br /> ti: 8. Iagpedton. Lender may make ar cause to be made masonable entries npoa and ia5pecdans of tbe Prnperty. �
<br /> pmvided that Lender shall give Borrower nodce prior to any such inspectioa specifying reasonable cause therefor related to ! .
<br /> ' Lender's interest in the Property.
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