|
..-,�- -
<br /> n,i,,, . � .
<br /> ,��� .
<br /> ...�kn...':,, ' .. . " , '' ''+M±�i� i ,�. ,. ,,^ .
<br /> i � .,
<br /> 1 Sub ect ro a Iica6le/ew oi to s wrlltan weiva by 14ene/iclary Tiusmr shall pay to Beneflcle►y on the Jbst - • v
<br /> �.Fundr/o►P�ym�nt ol Chnp�r. / PP
<br /> e{ey ol nach month,or such other date eech month as may be specified b y Bene/iciery,�nfil the Indebtednass is paid in lull,a sum Ihereine/tei
<br /> c�lled tha "Funds7 oquel to 1/12th ol tho yoarly taxos ond assnssmonfs which maV ettain p�lariry over this Deod ol 7rust romlum installments � :`--.-
<br /> the Tiust Praporty,�1 eny,plus 1/12th ol lho year/y p:omium insle!/rnents loi ha:erd�nsurnnco,plus 1/12th ol the yoarfy p I 1,�
<br /> lor morrgngo insurence,iJ any,e/!as reesonably estlmetod initie l lY tr n d Iiom time to time by Boneliclary on tho bssis nJ assessmonts end bll/s _—
<br /> ; end ieasnneble est�mates fheieof. Tho Funds shaG be h.eld!n an!ns tl�Plo�unds�peyJse d texes,�essessme/nt D1nsuranca p�emlumstend y�und _-_
<br /> lederd ai smro eyency!nclud/np Benelic%ry.Benellcia�y sl+all appl y , =_�?
<br /> �onta BenofJclnry shall not bo iequlrod to pay 7iustor any inferost oi oarn/ngs an fhe Funds Bonellciary shal/glve to Tiustor,wlthout chsrye, an ,F��
<br /> � snnua/accounNny ol the Funds showinp credits and deblts fo the Funds and the puiposo Jo�which ooch debit tn�he Funds was mads. The
<br /> � Funds ere plodyod ss eddltional sacwity lor the/nde6tedness secuiod6y thls Deed ol Tiust/!Ihe amount o!fhe funds held by Benslfclsry,
<br /> togothnr wl�h rhn/uroio monUl y inst»pments o/Funds pnyablo prioi lo Jho duo dates ol tuxas,nssossmonts,(nsurance p�emlums ond yiound .-;, _
<br /> � renta.shs/!exceed�he amount iequlred ro paV sald taxes,assessmenrs, �nsurence promron�s end yround ionts ns thoy/oll duo,such excnss _�_M_
<br /> shall be,at 7rusro►'s opt/on,elther prompHy repaid to Tiustor or cred►ed to Tiustor agaJnst/utwe monthly lnata//ments of Funds.N the�mounL A :•,,�
<br /> c.s��
<br /> ol fhn Funds hald by Benellciery shall not be suNicient to pey texes,assessments,Jnsurence prer»iums and yround rents os they lell due, ,�,___
<br /> •� �iustor ahall psy to Bene/iciery eny amount necessary ta make up the de/iclency withln thlrty days lrom the date notice!s mal/ed by Bene7lclo� t_•_-___
<br /> ro Tiustor requostMy payment thareal.Upon payment/n lull of all in0e6tedness,Bene/!clary shall prampHy re/und to Tiustar any Funds he/d by 0 fJ :., -
<br /> Benef/clery.1!the Tiust Property is so/d undei the power af ae/e or 1he Tiust Property is otherw/se acquired by Beneficlary,Beneflclary shaU �,_-
<br /> spply Immediately prior to the se%o/the 7iust Pioperty orits acqul�itlon by Benaflciary,any funds he/d by Benel/clary et the tin+e ol appllcatlo� .
<br /> Ies e ciedlt eyalnst the/ndebtedness. I/Beneficiary executos a wdtten welver o{Tiustoi s obligsNons under thls parapiaph 4, Tiusto�covenenl O
<br /> Isnd ayrses to pay,be%ro the same become dolinquent,ell texes,vsaessments,insuience premiums,Diound rents,and all other cheryes ,.�•,
<br /> I whetaoever lovled upon or assessed,placed oi msde ayainst the Tiust Piaperty. Tiusror lurther ayrees,upon wrltten request by Beneflc/ery,to� -
<br /> „ piompHy dellver to Beneliclery e//roceipts lor the peyment af such charpes. Tiustoi Iikew1sa egrees to pay a/l taxes,essessments end other w
<br /> ' chsrpes fevled upon or assessed,pleced or mede egalnyt,or meesuied by,this Deed of Tiust or the recoidatJon heiaol. -�'��
<br /> I ,`,
<br /> S ! S.Applfc�tbn of P�ym�nu. A//payments�eceived by Beneflciary as to any debt,/iabiliry or obligation owed to Benellclary by Trustoi msy be ,.4,.:._
<br /> , , epplled by Bene/iclary to the payment ol the lndebtedness or to an y auch o:hei debt,liab!lity or obllyallon,!n any order or manne►o/spplicetlon ,•:.r�.
<br /> which Beneliciery,in its absolute disaretion,deems appropnete.Unless othen�vise elected by Beneliciery eny such payment she!/be deemed ��,__-.-
<br /> � epplied fi�st to the payment a/any debt Ilebility or ob/lgatlon oJhei than the Note. '��•:-`
<br /> '��'c-:::
<br /> ' i� B.Chny�s;Ll�nt. Tiustor w/ll keep the Tiust Property lree from anllena ond encumbrances whlch/n any way mayln the fudyment oI _--
<br /> Bene/Ic/ary,have piloriry over,or lmpa/r the secudty of, this Deed o�Tiust but Tiusto►need not dlscha�yB any such!!en so lonp es 7rusroi sh�ll r:�:��
<br /> e eyree,ln wiltiny,to pay the obllpallon secured by such/!en in e menner eccaptsble to Beneficiery and sha//!n pood laith contest such Ilen b y __
<br /> i appropdate/ega/proceedings eNectJve to prevenf the en/arcemon t ol the Ilen end the/oss oJ any lnterest/n or part o1 the Tiast Property. �',,;}�,,;_
<br /> ��7��
<br /> 7.H�s�rd/ntannc�. Trustor shall keep tho bu!ldJngs and other lmprovements now existing or hereeRer erected on the Tiu�t Property Insured 4.:.__._
<br /> �, by lnsuronce cerriers saUs/actoiy to Beneiiclary ayainst/oss by llre,hezards included in the te�m 'extendod cove►eye'end such other hasa�ds, ,_:;. �.
<br /> cesualtles and contlngencles es may be�equired by BeneJiclsry,In such emounts end/or such perlods es mey be requfred by Benellclsry. The � �:i�"�-=
<br /> po/!cy ol lnaurance shal/be in lurm acceptab/e to Beneflclary provJde that the same may not be cance/ed oi modlfled w/thout 1Nteen f f 61 deys ^���•
<br /> �, prio�wiltfen notice to Bene/lclery,and shall have loas payeb/e pro vblans 1n levoi of end in to►m accepteb/e to BeneHclary.An p�emlums on .,��,.�
<br /> lnaurence policles shall be paid in the mannei provided under pareg�aph 4 hereo/o%it not paid 1n such manne,by Trustor msking payment at ;'��.'��_
<br /> _ laa;t fiftssn 1151 d�1�Priar to the due dete,dlrect/y►n�ha Insurance cerrler.Benellclary shall heve the ilqht to hold the pn/iclss snd ienewala �,��:�
<br /> fhereo/and Trustor sha//promptJy/urnish ro 8ene//ciery el/renewelnotices and aQ paid premium recelpts received by It./n no evenr sha!! { ° —
<br /> 8ene/iciary or Tiustee be held responsib/e/or faJ/ure to pay lnsurence premiums or/or en y/oss or damaya arlsing out of s defect!n sny po/lay oi 4�'�:�_
<br /> E'_
<br /> arlslnp out ol eny�ailure ol any lnsurence company to pay/oi eny loss or demeye lnsured ayeinst ar/or/e!/ure by 7rustoi to ef/ect the lnsunnca -- �s�:__
<br /> requlrsd hereunder.In the event ol loss, Tiustor shalf pive prompt noNr.e by mail to the insuranco cerdei and Beneflclsry.Bene/lclary msy make -- r,-,,�,_
<br /> prool oJ loss if not madn promptly or!n proper form by Tiusto�.A/lpo/lcies ol insurance and any end all refunds o1 uneamed prem/ums ere �
<br /> here6y esslyned ta Beneflclary es additional security/ar!he peymenf of the lndebtedness./n the event o/Beneflclery's exe�ciee of the powerof ,yy__
<br /> sale contafned hereln,or!n the event of foreclosuie,a//iiDh4 lide snd into�est o/Tiustor in and to any Jnsuience po/icy then/n loice shn/.'pass �=='
<br /> , to the pwchsser et the trustee s sa/e or/oieclosure sa/e.In cese o/any loss,the lnsurance p�oceeds may et the opNon of Beneflclary,be spp0ed R.�
<br /> y by Beneflclary upon the/ndebtedness,or eny part thereof,snd ln such oider end amount as Beneflciery mey determine;or seld lnaursnce r•
<br /> pioceeds,at the optinn of Beneficlary may either Ae used in replacinp or restoriny tAe Tiust Aaperty pe�tlally or totelly destroyed to s condlNon
<br /> � setisJectory to Benepciary;or swidlnsurence proceeds, or enyportion thereof,may be re/eased to Tiustor. Un/esa Beneficlary ond Trustoi E`,,,,,�
<br /> . otherw/se apree!n wriUng,any such app/lcetlon o/insuience proceeds sha//not extend or postpone the due date oJ the Note,or sny - _
<br /> inate!/menta ce/%d lor there/n,or chanye the amom�t of such instaNnents.1l the Tiust Pioperty!s ecqulred by Beneficlery pwsuant to the
<br /> _ ���r.
<br /> exerc/se of tho power of sale or othor/orec%sure,al/riyht tltle and interest o/Trustor in ond to�ny lnsurence proceeds peya6/e es s rosult o/ R:
<br /> dsmeye to the Trust Piopo►ry p�lor to the sa/e or acqu/sition sha!/paas to Benellc/ary end shall be app/!ed flrst to the aosts end exp�nsas, [r.
<br /> inc/uding attaney fees,Jncurrod in col/ecting such proceeds, then in the manner end/n the order provided he�eln. ` `-
<br /> �. -.
<br /> k 8.Pntwv�t/on�nel M�lnbrona+of 7rwt Prop�rty. Tiustor will heep tho ba!!dlnys and other/mprovements now or heree/ter erected on the ---_____
<br /> � Tiust Property In good iepalr and condlNon snd will no[comrnR oi permit waste,wi/f oot a/ter the deslgn or structure/chaiecter constltutlny any � :�---_
<br /> bul/d/np�ow or hereatter erected on and constitutinq the Tiust Praperty wlthout the prioi written consent of Beneflalary,wlll not do eny sct o► `'�~�
<br /> � thiny which woufd unduly lmpair ar depreciate the value of the Tru.rt Property and will�ot ebandon the Tiust Properry. Tiustai wlll not ie�»ove
<br /> x eny/ixtures constitutJng tha Tiust Pioperty unless the same e�elinmediotely replaced with/ike property subJect to the 1/en and secwltylnteresf - ._- -_- -
<br /> of thls Doed of Trust end oJ at/as[equal value end uNlity.Trusror will comply with ell present and futwo ordlnances,reyuletions end __ __
<br /> �eqairements of any govemmente/body which are epp/icab/e fo the Tius�Pmperty end to the occupancy end use theieof. N�his Deed o/Tiust is ��
<br /> on u unit in a�ondominlum o�a plenned unit development, Tiustorsholl porlorm oll of Trustoi s ob/igat/ons under fhe docle►eNons or covenents '���_.
<br /> aeatiny or povoming rhe condommium or the plenned unit development,!he bylaws and reguletions ol the cnndominium or planned unit �. - l.: `
<br /> developmenG and the constituont documents.
<br /> 1 �' ' • •1� '
<br /> I 9./nsp�ctlon. Bene�iciary or its agents mey,ot ell rossonab/e tirriw,enter upon the Trust P�operty lor thv pwpose o1 inspection.Beneliclary ��<°• - ��f��
<br /> .'t�'a.•.:"4':'`�.,
<br /> , sha//hsve ho duty to make such inspection and shaH not 6a/iablo fa Trustor or to eny peison in possession i7 ft makes or fel/s to make any such • -�s �
<br /> lnspectlon.
<br /> . �v�::
<br /> 10.Prot�oNon of 3rcu►ky. Il Trustor!a!/s to perlorm any of tAe covenents and egreom6nts contalned(n thls Doed oi Tiust,or!l eny ectlon or � � �,� �
<br /> proceeding/s commencod which does or may ndversn/y oNect the irust Property or the intoresf ol Trustvr or 8ene/lciary thoreln or the tlHo ol
<br /> Trusto�theroto, then Benelicinry,et its option,may por/orrrr such mvenants and agreements,moke such eppaarrnces,de%nd ageinst end
<br /> investigate such ection oi proceodinb end teke such other ection ar BeneJiciary deems nocessary to pratoat its inteiost includ/ng,but not limited
<br /> to,disbursement of reasonsble ottornoy loas end entry upon the Trust Proporty to meke repairs. Any emounts disbuisod by Bonoliciary pursuent
<br /> to thls pniogroph f 0,with intorost thoroon,sholl constitute/ndebtedness o/Trustor securod by thls Oeed ol Trust Unless Tiustor and
<br /> Beneliciary agrne to other terms of payment,such amoun�s shal/be poyab/e upon notice/rom Bena/iciaiy to Tiustor requosting payrnont thoreol, ,�
<br /> end sha!l beai lnterest/rom the date o/disbursement at the doloulrreto,i/ony,snt lorth in the Noto,or othorw/se at the highost�ete poimltted .
<br /> by/ow.Nothing conte/ned in thls pnrogroph sha/l roquiro Benef�ciery to incur any oxpenso or toke any oction horeunder Trustor/rrevocably
<br /> authonres and empnwers BeneJiciary to enter upon the Trust Piope�ry as Trustor's agent and,in Trustor's•name or othenvise to perfarm any
<br /> nnd s//cnvonents nnd oorooments to be oorloimod bv 7rustor os herein pravrdod.8eneliciurY sholl,at its option,be subrogatad to on y
<br /> oncumbronco,11en,cfelm or demond ond to oll rights end secuntieslor the payment thereof paid or drschergad by 8oneficiary under the � - `'-'-
<br /> ' provisions hereol and any such subragation rights shal/bo oddifionol and cumulotive security lor fhis Doed ol Trust.
<br /> 11. Condemn�t/on. Tho Froceods ol eny eward or claim/or domopos, direct or consoquontrol,in connection with eny condemnatlon or othor �
<br /> tuking of tho Trust Proporty or any part thoreof,or/or conveyancoin/iou ol or in onticipation of condemnation,aro horeby assiynod to ond sha// I
<br /> be paid l0 8enehciary. Trusfoi wdl f!le end prosecuto,in good Ini�hund wi�h duo ddigenco, ifs cla�m Ior any such award or paym.vnf,ond wdl ,
<br /> couse►ho same to bn codacted and pe�d to BonoJiciary, vnd, should�t lml to do so, Trus�or iiiovocnb/y nuthorizos ond ompoweis Bone/iclaryin �
<br /> the namo o/Trusror m�orherwisa, ro 6/0,prosocuro,sntfle oi mrnporn�sn uny such clnrm vnd to collnct, roco�pt lor and rotem the proceeds.!l �
<br /> the Trust Proporry is ob�ndonod 6 y Trusfor,o�,u/tor nohce bY Bdnu/�ciary to Trusfa��hot tho condonmor ollors to mako nn aword or sotNo e �
<br /> claim/or domagos, Tiustcr 1m/s fo respond to Bonohci�rY wi�Nn thnty 1301 dnys nitor tho rlam such nohco�s moilod,Bono%r.�ory�s outhoiilod to �
<br /> colloct ond opply tho proconds�n tho mnnnor�nd�cutod ho�oin.Tho procnods o/any uwvrd or cln�m�noy, uJtor doductinq an roosonnblo coats ond
<br /> exponsos,�ncludmg vttomoy/oos, wh�ch moy hovo boon mcurrod 6y Bonofrci��ry m tho callochon tharool, uf tha solo d�sciohon ol Boneficiory,bo �
<br /> refoosod ro Trusror,nppfiod fo iostornbon o/Trusf Pioporry, or r�pp6�d to 1ho pdymont o/tho Indobrodnoss.Unloss Bnneflciary and Trustor
<br /> othurwrso ogroe in wnting,any such appl�cuhon ol procoods lo/ndebtodnoss shn0 nat oxt�nd or pns�pona�ho due doto o/tho Noto or tho ;
<br /> puymont ol uny msfnllmonts r.nllod!or thor�undnr.
<br /> Page 2of 5
<br /> y!�)�Y+R4'1(,ti7vf.��.�h!j ��
<br />
|