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<br /> DEED OF TRFiJST Peye 3 il .:�:,...�
<br /> i •p�f..05-1998 (Continued) !j 98-��)08'71 �'��,:�'��
<br /> Loen No 624205 '�_ � ��'�'�
<br /> � when due sll clalms for work done on a lor . ,
<br /> Paym�nt.r T�uneg�Q�dlmpos tions ev�ed pa nsllorVOn acCOUM�oftlhe P operty�la d�shalpl psy�eS �e�ments,char0es(Includ!ny waler .
<br /> i end sewe), Trustor shali malntuln the Prope�tY hee d tUl uens hsving prlorty over or oquai lo Ihe �
<br /> sorvicss rendered or mttetltl furnlshed to lhe Property.
<br /> interest ot Lender under thb Dead of Trust,axcept for the Iien of texes nnd essessments nol due,except for ihe existing indebtedness referred *'
<br /> to below,nnd except�s olherwise Drovlded In lhis Deed of Trust. ,* ,
<br /> Rlpht To Cante�Ltl���s ntereslhn th�Property la not 1eopardlied.81 a/en Iarlses o�s filed u a�esult of olnpaymanl,Truslor shali walhln �• ,. Y
<br /> to pay.so lonp •
<br /> fiflMn(16)days tftor Ih�INn ads�a or,M�INn I!filed,wlihln tftteen(16)daya arior Trostor has nolice of the filinq,secure Ihs dlschtroe of the ,� ,}�'t'
<br /> � Ilen,Or M requ�s�to�huqe Ihe I�len plustanY costs dhctlo neys�'fees a o her�charpes that co d ccue�as a�resuit tof� ft orectosurs orl sale ,
<br /> � emount autec�a :.; . .
<br /> � undsr the Ilen. In any conlest,Trusta thtll d�fand Itaaif te u^�da y buisty bo dUlu�mishMtln 1he ontMt P�o�edlnps forcement naelnst the ,r� .-
<br /> � property. Trusta sh�Y name Lender ns an�tddltlor�al oblipee .
<br /> EvW�nctths i�rtNnl.t�9ovsrnmalntu o1l�cclnl ondelivar o Lsn�lnty tame a w Ben statement of the tYxes a d�assessmennts eqai st ihe �',i.
<br /> authorize PD� .�•';:�`"
<br /> PfOp°�' befaa anY work�s commenced,any seMces ere turntshed,or tny , '.�,4,% �=""
<br /> NoUc�of Conitructbn• Trustor shall notlty Lendar at least lftteen(tb)days, �:
<br /> mil�rials aro supptied to the Property,�t eoY mec►�anio's Ilen, mntarlalmen a Ilen,or other Ilen could be aase�ted on tccount of ths work, '--
<br /> �y�pr rrkUrtah.Trustor wlil upon roquest ot Lender furnish io Ler�der advance assunnces satistactory to Lender thel Trustor c�n and wlll -":;s.-_�-_.
<br /> pay ths cost of euch Improvemenb. • �
<br /> pqppEqTY DAWIAOE INSUfiANCE. '��o��oW��ure an'dnmal�n8ta n�pol c�les�olg ree surcnce vnteh s a dardhex e ded co esage endorsements on a
<br /> 1 M�Intenance of Inaursnce. Trustor shaN p _
<br /> replacement bas�s fornhde�`h la sta dard�moA�agee clause Inrfnvor of 1lenderetopet er wfeth suCh otl erhnaTard 8nd Nabll8lty In u an�ce1as Lender �u
<br /> cWnsurance c�ause,a
<br /> 1 company orBCOmPanbs reasonably acc ptabie to Londem�Trusta,uponVrequest of Le der�wa den�e�i�ena�+rom i mi e to Q e'he poibcles
<br /> � pt C9AIffCt�BS 0�(1'1S�o��n8^O otke'to Lender�. Eachalnsurance poucY also shaUlnc�ude a eend�orsement pr Ndlny thatco'veraqe In ffiva of
<br /> iesst ten(10)days'Pd
<br /> become I�ocated n lan area dasipna ed by t e Olrector ot4the FederaBUEme qencyrMa egement ApencY as a�P����hr�d e�Trus oe
<br /> ayrees to obleln and malntaln Federal Flood Insurance for the tull unpald princ�pa►be�ance ot the loan,up to the mexlmum poiby ilmiis set
<br /> under the Nallonai Fbod Insurance Propram,or as olhsrwise requlred by Lender,and to ma�nWn s�h Lender�may make p oof'of�oss if Trustor �
<br /> * Applictlion of Proceed�. Trustor shall promptly no t l f y Len d e r o f an y loss or damape to the Prope�ty. a ths -
<br /> falls lo do so wlthin Alleen(tb)days of thetcasual�a hi the eductlon ofrthe�i6ndebtedness,paYment of any Ilen eNectlrp the P perty,re�in
<br /> � I t he p r o c e e d s o f s n y I n s u r a n c e a n d a p p l y p
<br /> restoraUon and�epalr oi the Property. If Lender elects to app ly t h e p r o C e e d s t o r e s t a a t i o n a n d r e p a l r,Trustor shal repalr or replace the
<br /> I damaqed or destroyed Improvements In a manner satistactory to Lender. Lender shail,upon satbfactory proof of such expen d i ture,pay o r
<br /> relmburse Truslor kom Ihe P��dlsbursed withen 180 days atter the�r8rece�P 8 d wh�h le der has not comm�itl9d iosthe ropal��rest aHon of
<br /> � prpCaedg whlCh heve nd bee Amount owino to Lender under this Deed ot Trust,then to pay accrued�elsns��a^d�he��malnder,it .; ;:
<br /> - � ' the PropertY ahati Ge used ttr�t to pey any. ---- - -_-
<br /> any,shail be�pPlled to Ihe principal balence ot the Indebtedness. If lenaer ndds any NiocsaQ�alux Day+nen��n tult of ihe Indebtedn9ss,suoh ` ;;:`_ ',�;
<br /> • praeeds shal be pald lo Trustor es Trustors interesb maY�PP��• coverod by this ,� �, �
<br /> lJnexplred Inwr�nes�18at�• Any unexpired insurance shall inure to the beneflt of,and pass to,the purchaser of ttw Prop ^
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<br /> , Deed of Trust at any trustee's saie or olher sale�d he�od nrw kh any ExisNrW ndebt d'i�ess tdescrlbed below Is in ettect,Compl�la�nce wflh �.,' �
<br /> s Compllancs with Fxis4ny Indebted�ess. Du�iny t p
<br /> the insurance p�ovls�ons contained In the Instrument evidenclny such Existlnp Indebtedness shau constituts compikncs with tM insurana A ,7
<br /> � provislons under Ihls Deed of Trust,to the extent compllance wllh the terms of thls Deed of Trust would constltute a dupllCaGon of InsurtnCe
<br /> requtrement. It any proceeds hom the insur8nce become paYable on loss,the provlslons in Ihis Deed of Trust fa divlslon ot proceeds ahall Y ; :
<br /> appiy onty 10 that portion ot the proceeds not payable to the hader of the FaclsUng Indebtedness• �,''_
<br /> � I�ndeb edness n good sEiendhg astrequlred below,o�rf a y act n oyr Pr�ocesdlnytishcom enced that w ulddm ta erlellY Haget Londer'senlerosts Intth�e �� ;;:.'=v
<br /> +n.vM•..
<br /> Property, Lender on Trustors behaif may,but shall not be required to,teke any action that Lender deems appropriale. My amount that LendAr •y'r�•.
<br /> expends In so ddng wul bear Interest at the rale proWded for In the Nota from ihe date I�curred or pald by Lender to the date of repayment by �'�^
<br /> Trustor. fu such expanses,at Lenders optbn,wllt (a)be payabie on demand, (b)be addad to the balance of the Note and be apportloned amonp �.y'�
<br /> • ' and ba payable with eny instaliment bai oon aymen/wh chwl I be due an�d�pay8ble at the Nd6'sarn4lutlty�Th�spdeed o��Trus't also wlll�soou e �x_:,_�
<br /> of the Note,or (C) be trealed as a P �',`'_�' ----
<br /> payment of these am�unts•The rights provided for in ihls parttpraPh shall be In addltlon to any other�Ights or any remedfes lo whiCh Lender may be
<br /> entitled on account of the default. Any such acUOn by Lender sh811 not be conslrued es curinp the deteult so as to bar Lender hom any remedy thct �;;- '
<br /> r � ft othervvise would have had. �;�^
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<br /> WARRANTY;OHFENSE OF TITLE. The follow�np provis�ons relattng to ownership of the Property i►e a part of thls 06ed of Trust. y��.�`
<br /> � Title. Trusla wartanls that: (alset tath hn l he Real Pr per'ty 8descdPNo'n or in the Exist gPndebtedness secllon�beeow or Inl any t Ho I sur4nCe ``,`,-�.�r'-�'�-----
<br /> � encumbrances olher then those T����
<br /> .,::^�;,�.�`'•.,.
<br /> pol�y,tit!e repo�t,or flnai tltle opinlon Issued fn favor of,and acCepted by,Lender In connectlon wlth thl3 Oeed ot Trust,and (b)Trustor has the � �- �
<br /> I fuil rlght,powe�,end eulhority to execute and dellver thls 09ed ot Trust to Lende�. �
<br /> Defena�e of Tltle.SWJeat to the the evtent anthaellon 9wfl prxeeding isscommenced 8 atwquest o sr Teustors titlat'or the enlerest o T u'stae oe Y �
<br /> � iawful clalms of eb parsons. In Y
<br /> lender shalelrbe en�teilled to particlpete�listhe p0}8oceednq atnd iotbourepresexnpiedsn the proC9eding by c unsel of Le der's own c�dolce.�and
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<br /> � Trustor wiY detiver.or cause to be deNvered,to Londer such Instruments as Lender may request from time to time to permlt such particlpatlon.
<br /> ' ordinances�and�reguiat ons ot gove nmental ut�horitles.roperly and Trustor's use of ihe Property complles with all exlstinq applicable laws,
<br /> EXVSTINfi INDEBTEDNESS. The following provislons concerning BxlsHng Indebtedness(the'Ex{stinp Indebtedness")are a part of this Deed of
<br /> Trust. ment of an
<br /> Exfstlnq Llen. The hen of this Dood of Trust secu�ing the Indeblodness may be secondary and Inlerlor to the lion securing p8y
<br /> AND RECORDED IN HALL COUMY AS DOCUMEPIT NON196-10284AND DEEO OF TRUST DATCD A RIL 6�,t996 NO RECORDE09 N
<br /> HOWARD COUNTY IN BOOK 96 OF RECORDS, PACiE 86t. The existing abtlgellon has e curtent princlpal balance oi approx�malely
<br /> a85,fi00.00 a�d K 1n Ihe onglnfll princfpel 8mounl of 590.000•00• Trustur oxpressly covenanls and agrees to pay,or soe to the payment of,the
<br /> Existing Indebtedness and to prevent any delault on such indebledness,any default under tho Instrumenls eNdencing such Indebtedness,or
<br /> any def&uN u�de�any seCUhry documents lor such IndebtednesS.
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<br /> ..�..........�,,.,tho FYieuna Indebtedness Is not made withln the time requlred by the
<br /> DE}sU11. II lhe Payment of any InslBiimeni oi prinapu��� o��r�•••vw•_....-- - �
<br /> nole evidencing such fndebtedness,or should a defauH oCCUr under the Instrument SeCUrhg suCh lndebtedne55 an0 noi oe curuci�u���ro��i
<br /> appllcaGle grace penod there�n,then,al the opllon of Lender,t��e Indebtedn9ss secu�ed by thls Deed o�Trusl sha�become Immodlately due
<br /> and payeb�e, a�d tMS Deed of TruslShall be In de�aull.
<br /> n s p�odly ove�this Deed of ITrust by whiCh hnl IIgreemenl sitm c��+eaaame a a muxie�aed,a enewed withoutethe pr�o�wtllte COn58nt ol '
<br /> Lender. Trusla shaN neither requost nor xccePl any tuture advancss under any such security agreement wilh0ut lhe pr�or wd�ten ConSBnt ot ;I
<br /> Lender. i
<br /> CONDEMNATIOfd.Tho lollOwing prows�ons re�aiing to CondBmnaUOn proceedinfl,8re e purt o�Ihis Oeed of Trusi. i
<br /> Appticetlon af Nel Proc�eds• u pll or nny part oi Ihe Propo�ty �S Condemn@d by eminent domein proCOedin(15 or by 4^Y P��IedllO lhe ��
<br /> purchase�n iieu o�condemnation,lender may al ds elocUon reqwre Ihat all or any portiai o1 Ihe net proCeeds o1�he award e app
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