|
.., �
<br /> �
<br /> ,. .o.�,.,��• .,,.
<br /> .y..,.�....sw+Nrr{W.-, . �
<br /> . i � .< <.
<br /> .a�.M,r
<br /> • . 4.Fundr/oi PsoY h�n�such•at�dateJear.h mon�hr as/ma be apec/fadr6y Beneticlsbiyeuntil'lthe Indebtedness'!s pald i�/u%`ls,surn�lhe�eJn'riffu • Y
<br /> d�y at esch m n
<br /> called fhe 'funds'1 equal to J/1Tth ol the yea�ly taxas and asaessmenfawhich may attaln P��a��lus 1/12th ot he yea�ly p om'um 1nstol/menta(�
<br /> the Tiust Piopsrty,i!any,A�us 1/12th ol tho yoady premium installmenli 1or haza�d insurance,p
<br /> !o�mortyagelnsuranre,i1 any,all as ieasonebly estimo�ed Initial/y and l�om timo to t/me by Bonoticiory on�ho bosls of assossmen�a and b!/Is� —
<br /> end ieasonable attimates lhereoL Bbe11 1eds Benoliclnry sholl epply theFunds�pey sa d texes,�essessmenf vinswence p'emlumtrend pround� ._—
<br /> lede�al or stete eyency including B Y C' '�
<br /> rents Benellc/aryshell not be iequirad to pay Tiustor eny lnterest oi oam�ngs on the Funds 8eneliciary shel/yive to 7iustai,wlthout c eiys,en
<br /> ennual eccountlny ol the Funde ahowiny c�edits end debits to the fundrend the purpoce lor which each debir to the Funds waa mede. The �
<br /> Funds are pledDed as addJntpo�o��son tallmentshol Funds payable prioe�o ArB du�detes'ol,taxes t esso sments,fis�ence p�iem+lums and p►ound � _
<br /> toyethur wlth iho futu Y
<br /> rents,sha/l exce�d the amount requlred to pay sald taxes,assessmen ta,�nsurance prerniums ond groundronts ns they/ell due,�uch oxcoss
<br /> , shs/!be,at Tivatoi s op�n'ellclal thsh�l o�be�Niclent toupey taxes,dasre�sments�lnsugnnce premlumsrend,yround rents as they/al/due,maunt � `
<br /> ol the Funds held b y B rY
<br /> � Tiustor shell pey to Beneflclary eny smount necessery to meke up the defTclency withln thirty deys lion.the dete notice!s malled by Bene1lclery
<br /> to Tiustor requesNny payment thereof.Upon peyment in/uN o/alI indeAtedness,Benef/clery shell promptly ielund to Tinstor ony funds he/d by
<br /> Beneiiciary.lf tAe Tiust Property!s sold under the pnwer of sale or theTrust Praperty 1s otherwiso acquired 6y Benel/clary,Benellclery s j��aUon , �.
<br /> app/ylmmediatety prlor to the sele o/the Tiust Pioperty or Its acqulsltbn by Be»eflclary,any Funds held by Beneticlery at the NMe of spp ;.j �,
<br /> � es e credlt eyelnst the lndebtedness./f BenalicJary executas a wrltten neiver of Tiusia s obl/patlons under fAis parayreph 4.Tia�tor covenants "'.'.�4_�;,,:',_
<br /> end ag�ees ro pay,before the samo bocome dellnquen4 a!I taxes,essr,•sments,Insurence premlums,ground rents,ond all othei charges •V���
<br /> whntsoeve�levled upon or essessed,placed or made eyalnst the Tr�st Property. Tiustoi lurther eyreBS,upon wiltten request 6y 8eneficlery,to ! ____
<br /> ' i prompNy deUver to Benesaessed '/acedPor mede agaJnst,tor moosured6y sthisuDeed o/Tius toi the recordefbn hereof.sessments and other ''�-���
<br /> char�es/evied upon oi a .P
<br /> e?.�.�;-
<br /> 6.Appltc�tlon of P�ym�nt�. sUl paymonts received b y Beneflclery es ro any debt,IlabllJty or obligatlon owed to Bene/lclary by Tiustor mey be f
<br /> , � epplied by Bene/iclery ta the paymescretione deeems ePprvPiete. V��s+ofhehrwlse e/ec/t d by Be e/icletry enysuch p yment aha/1 be deemedlon ' J
<br /> } which 8onoflcJary, In its abso/ute d
<br /> app!!ed flist fo the payment of eny debt IlabiUty or obllyallon othei than the Note.
<br /> 8. Ch�rg�+;LNnr• Trustor will keep the Tiust Pioperty�iea lrom an liens and encumbrancos wh/ch ln ony wey may 1n the Judyment o/ ,�
<br /> Benoticiary,hava piloiity ovai.or Impair the security o%this Deed of Trust but Tiusror noed not diacherge eny such 11en so lony es Tiustor shsll •.'
<br /> 4 'I aDr io'ilate'/B,nel ti ceeu nes e,Nective to prevent the en/oi,ement of Ao/len and the loss o/Ceny lnte esht/nlo�pa�of the Tiusf Aope/ity. by ' ""
<br /> '� PP P 8 P D
<br /> '�y 7.N�:�rdln+annc�. Tiusror sha/!keep the buildings and other improvemeMS now exlsting or heieaftei eiected an the Tivat Property lnsuied .�
<br /> .+ + by lnauience ceniers setisfectory to Bene/lciary eyeinst/oss by/ire, hetaids lncluded in the term 'extended coveroye'end such othai hsza�ds,
<br /> , cssusltles end eonNngencios as mey be�oqulrod by Beneficiary,in sueh omounts and for such pedods es may be requ/red b y Beneflclary. 7he • . �_
<br /> a poNcy of lnsuience shell be!n lorm accepteble to Benel/c%ry piovide rhat the seme may not be cance%d or modi/Jed wlthout flfteen f 1 bJ days �
<br /> ' t prlor written notice to Bene/Jciery,and shall heve/oas payable provisions in favnr ol and in/orm eccepteble fo Benefic%ry.An premlums on �,, r�^.`
<br /> �� lnsuronce poNcles shall be pald In the manner provided under paragraph 4 hereof or,!I not pald!n such manner,by Tiustor maklny psYment at
<br /> leasr fiiteen f 1Gi�aya prlar ta tha due de!e,�1/�pr.Ny ro the Insurenco earilec Bene/Jciary she/!have the rlyht to hold the po/lcles end ienewefs "':� ',,t
<br /> theieof end Tiusto�she//promptly furnlsh to Bene/!clary e//renewa/notices and a//pald premlum iece�prs receivaJ by it.!n no avcnt slrall �
<br /> � olfc oi (y,�y:
<br /> � Bene/Ic1ery oi Tiustee be he/d responslble lor lelfuie to pey lnsuience p�emlums or far any/oss oi damaye adslny out ot a de%ct!n any p Y • F
<br /> erlslny out of eny fa!/we of eny insurance company to pay lor eny/os+oi demeye lnsuied apelnst ar/or fellwe by 7rustor to eflect the Insurence }�;�
<br /> requlred hereundei.ln the event o/%ss, Tiustor shall g�ve prompt na�ce by mail to the insmanae canie�and Benellclary.Qeneflclsry mey make � �;��
<br /> ' ' proof of foss ilnot made p�omptly or in pr�per lorm by Tiastor.A!I pdicies of lnsurance and eny and all ielunds ot uneamed piemlums nre
<br /> . heieby asslyned to Beneticlary as addlNonel securlly for the peymento/the Jndebtedness.M the event of BenelJc/ary's exeiclse o/the power o/ +;�_
<br /> �
<br /> se/a contelned hereln,or In the event of loreclosure,e/I rlght,tltle andln torest o/Tiustor!n end to any lnsurence pollcy then/n lorc�hel/p�a ,: �
<br /> to the purcheaer et the trustee's sa/e or/orec%sure sale.M case of any/oss, the Inswance proceeds may at the optlon ol Benellc% be e Hed ,.
<br /> �. 6 y Bone/lclary upon the/ndebtedness,or any part thereo/,and In such oider and amount as Benellclary mey deteintlne;w sald/nsurance
<br /> �, proceeds,at Me optlon of Bene/iclery may elther ba used!n replecinyor iestor/ny the Tiust Pioperry partlelly oi tote/ly desboyed to a condltlon �t
<br /> seNalectory M Beneflclary;or sald lnsurence proceeds,or any portion thereof,may be ieleesed to Tiustor.Un/ess Bene/lcJsry end Tivatoi
<br /> r otherw/se a8ree!n wiitinp,eny sucb appllcatlon ol insurence proceeds sha/l not extend or postpone the due date oI the Note, o�eny ��
<br /> lnstel/ments celled for therein,or chanye the amount ot such lnstal/ments.N the Tiust Property!s ecquired by Bene/!clery pursuent to the �.
<br /> K' oxercJse of the power of sale or othei/oreclosure,all ilgAt,tftle end infeiest ol Tiustor!n and ta any lnsurance proceeds paysble as a result of
<br /> F damaye to the Tiust Property prfor to the sale or acqulsftlon ahall pau fo Beneficlery and sha/l be epplied 8rst to the costs end sxpenses,
<br /> �
<br /> Includlny attornny/ees,lncurred!n col%cting such proceeds,then in Ue manner and!n the o�der pravlded erem. __
<br /> s B,pntav�tbn�nd M�lnna�nc�oI Tiu+t PropNty. Trustor w!H kBep tho 6uJldinys end otheilmp�ovementa naw oi herea/ter e�ected on the _�_T
<br /> 5 Tiust Proparryin good repalr end condltlon and w!/I not commit or permlt waste,wlll not alter the deslyn or stiucturel cherecte�constltutfny any �
<br /> ' bWldiny now ar herealter eiected on end constltuNng the Tiust Pioperty wlthout the prlor wdtten conaent o/Beneflclary,wll/not da eny ect ar ��-
<br /> - �' thfng whlch would unduly lmpelr or depreciote the value ol the TiustProperry and w111 not abandon the Tiust Propeiry. Trustor w!!l not remove �Y.`_�_'
<br />' ony llxtwas constltuNng tho Tiust Piope�ry unless the seme ere iinmodiately repleced wlth l/ke p�oparty sub/ect to Me!!en end aecuilry interest ,s___ __.______.__
<br /> ' o/thls Oeed o/Tiust and of et/est equa/va/ue end utility. Tiustoi wid camp/y wlth a/I present and Juture ordlnences,regulallons end �:-__
<br /> • requlrementa of any govemmontal body which are eppl/cabfe to the irust Pioperty end to the occnpancy and use thereot.II thls Deed of Tiust ls ��
<br />� on e unit/n e condominlum or e plenned unit development, Tiustoi she//podorm e!/o/Tiustar's ob/lgaUons under the dec%retlons or covenants ''�.1j , •�'l:_
<br /> ' cieeNng or yoverning the condominium or fho planned unit Jdvelopmen t,the b ylaws end regu/ations of fhe condominlum or p/enned unit
<br />= developmenG and the constitubnt documents. r"''•, ,''''r'.�
<br /> � 1 9.fntp�aGbn. Beneficiary or its egents m»y,et e/I rpn onoble timos,enter upon tho Tiust Pioperty 1or the puipose o/lnspection.Benellclsry r+~ ;!F;�:.~.,
<br /> 1 shal!have no duty to make such inspectlon and shell not be fiable to Tiustor or to any peison!n possesslon if!t makes or/el/s to make any such � ,
<br /> ;,:���
<br /> inspoction. "
<br /> . �°��-
<br /> 70.PioNatton o/3�euiky. I/Trustor feils to perlorm eny ot the covanBnts and egreements contained in this Deed ol Tiust,or11 eny ect/on ar
<br />- proceeding is commenced which does or may sdve�sely aI/ect tha lrust Properry or the rntorost of Tiustor oi Beneficiery theieio or tho tltle of
<br /> 7rusfor theiefo, then BeneJiciery,at its option,moy porform such covenants and aDreements,muke such appearences,de%nd apa/nst end
<br /> • invest/yate such ection or proceedinp and toke such other action as Beneliciary deems nocessery to profect fts interost includinp,but not limited
<br /> to,disbursement af reasonable attornoy Jeos ond enh y upon tho Tiust Pioperty to make repoirs.Any smounts dis6ursed by Bene/lciary pursuent
<br /> to fhis paregraph l0,witb intorost thoreon,sha!/constitutn lndeb todness of Tiustor secursd by this Deed of Trust Un/ess Titisfoi and
<br /> Bene/lciery agree to othsr terms ol payment,such amounts shell be peyable upon notice Irom Beneliciery ta Tiustor requestlnp peyment thereol,
<br /> ond shall bear interest/rom the dato ol drsbursement nt the delav/trate,il any,set/orth in the Note,or ofherwiso at tho hlghest rete permltted I ,
<br /> by law.Nuthing contoined in this poragraph shall roquire Bene/iciary ro mcur any oxpense or take eny action hernunder Tiusto�iaevocably
<br />— � authodtes ond empowers Beneliciary ta ante�upon fhe Trust Pioperty as Tiustor's ugent and,in Tiustoi s namB o►otherwise to pedorm any
<br /> - e.,a ou......enontc ond anraamants to bn ne�Jo�mod bY T�usto�as hnoin provided. BenefrcinrY she//,at its option, Ce subiognted to eny l
<br />_ ; ....__..---- - . _ ,-- -
<br /> -" � encumbranco,lfen,claim or dnmand ond to all rights end securitias lor thn pe yment theroo/paid or d�schargotl D y erenei�crary unoer iire r
<br /> provfsions he�eol and ony such su6ropahon nghts shol!be oddilronel ond cumulativo security for this Ovad of Trust. �
<br /> _ 11.Condemn�t/on. tho proceods o{any eward or cloim lor demsges, diroct or consequentro%in connochon with eny condemnation or othor �
<br /> teking ol tho Trust Proporty or any port thereol,or/or conveyonce m/ieu of ar in unticipation ut condornnetion,a►o here6y essignod to and shall �
<br /> be pa/d to Bonoficinry Trustor will Iile end piosecute,in govd Inithand with d�e dilipence,its claim lor any such owerd or payment,and will .
<br />—" cause thn somo to be collectod und paid to Bene/iciory,und,shouldit loil to do so, Trustor iiievocnbly aulha�izes nnd empo wor<Benelicia�y in i
<br /> the name o/Trustor or othorwiso,ro lilo,prosecute,sottlo or comprarniso rtn y such claim and to callecl,�ece�pt lor ond rotem tho procoods.!f I
<br /> i tho Trust Property�s obendonad by Trustor,or,altor notico by Bonoliciary to Trusror that the condomnnr o/fers ta meko en �word or setNe o
<br />— cloim lur damagos, Trustor/ails to rospond to Beneliciaiy within tMrfy 130� doys a/toi tho date such notice is moiled,Done/icie�y is authorrzerl to
<br />� colioct and apply the proceods in the monnor indicsted herern. rhop�ocoods ol any award or cloim moy,altor doducting an roasonablo costs and
<br /> exponsns, including ottornoy/oes,wh�ch moy hevo boon mcurrod Dy Benelic�ary m tho collectron thcr00%sf fhe solo discrotion ol Bonofic�ory,ba �
<br />� � roloasod to Ausbr,applied ro resroration o/Trust Properry,o�appNod to the poy�nent o/tho lndebtednoss. Unloss Bone%cie�ry vnd T�ustor
<br /> � i ofhonv�sr►ogreR in writing,ony such opplicotion ul proceeds to/ndebfednoss sho!!not oxlend or posfpono tho duu defa ol fho Note o�tho
<br /> _� � poymont ol ony instr�llmonts cu/led lor thainunder.
<br /> f Page 2 af 5
<br /> �
<br /> � A71:1K1P f,ITG 59�P6)blhil SS _ __- _ _ -.-_ --
<br />
|