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<br /> ? Any rider ("Rtder") Attached heretu and executed af even dote fs Incorporuted hereln and the covenant nnd w�
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<br /> aRreement�of the itlder s6a11 amend and�upplement the covenanta And ap,�cements of this Deed ot Tn�st,us it ,
<br /> � tho Rlder were a part hereot. ��-
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<br /> ; Botrower covenunts that IIorrower is lawfully sei4cd of the cstate hereby conveyed and has the tight ta grant and wnvey __
<br /> the Yroperty, and�hat�he Propeny is unencumbered, except far�ncumbrances of record. Borrawer covenante thet �'�° -_
<br /> � Borrvwer warrants and will defend generally the title to the Property againgt all ciaims and demands, subjat to �. ,,-i�:�:
<br /> � encumbrances of record. • '� `'"`��
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<br /> LJIV.IFORM COVENANTS. Bonower and L.endcr covenant and agrce as follows: � �,__.
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<br /> 1. Payment of Principal end Interest. Bonower shall promptly pay when duc the prtncipal and intenst indebtedness � LL�
<br /> evtdenced by the Note and late charges as providPd in ttrc Note. This Deed of Trust secures paymenc of said Alae
<br /> �ccording to its terms,which are incorporated herein by reference. r�--
<br /> ' 2. Appl[cation of Peyments. Unless applicable law provides otherwise,al1 payments received by I�ender under the -
<br /> Note and paragraph 1 hereof shall be applied by Leader first ta interest due on the Note, second to the principal due –_
<br /> j on the N�te,and then to late charges due on the Noce. =_
<br /> 3. Prior Mortgages nnd Deeds of Tnist; Chug�s; Liens. Borrower shall perform all of Borrower's obligattons, —
<br /> undar any mortgage,dee�of trust or other securiry agreement with a lien which has priority over this Deed of Tnui,
<br /> including Borrower's covenants to make payments when due. Borrower shall pay or cause to bc paId all taxes,
<br /> ' assessments and other chatges, ftnes and impositions attributablc to the Property which may attain a priority over this
<br /> �i . � Deed of Trust,and leasehold payments or ground rents. if any,
<br /> . 4. Hazerd Insurance. a) Bonower s6a11 keep the improvements now existing or hereafter erected on thc Property
<br /> ii�sured against loss by fire, hazards included within the tecm 'extended coverage",and any other hazards, includiog
<br /> floods or flood,for which Lender requins insurance. 'lUis insurance shall be maintained in the amounts and for t6e
<br /> ?' periods that Lender requires. The insurauce carrier pru.idiug the insurance sha111�e cbosen by&►rn?v�+er cubJect to
<br /> . Lender's approval which shall not be unreasonably withheld. If Boaower fails to maintatn coverage described abuve,
<br /> Lender may, at Lender's option,obtain coverage to protect I.ender's rights in the Property in accordance with paragraph _-
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<br /> � �j b) All insurance policles and renewals shall be acceptable to I.ender and shall include a standard mortgage clavu. '�,'
<br /> � p� Lender shall have the right to hold the policies and renewals. If I.ender reqnires,Borrower shall prompdy give to v-
<br /> �� Lender all recelpts of paid premiums aad reaewal noticts. In the event of loss. Bonower shall give prompt to the ��,;
<br /> •�I insurance carrier and I,eader. Lender may make proog of loss if not made promptly to Borrower. ��
<br /> c) Unless Lender and Borrower otherwise agree in wdting, insurance proceeds shall be applied to restoratioa ar repair ��;�
<br /> of the Property damage�i,if the msroration or repair is economically feasible and I.ender's security is not lessentd. If . .,,�,�„
<br /> the restoration or repair is not economically feasible or Lender's securlry would be lessened,the insurance proceeds shall � '��t;.:.
<br /> be applied to the sums secured by this Securiry Instrument,whether or not then due,with any excess paid to Borrower. •��.
<br /> If Bonower abandons the Property or does not answer within 30 days a notice from I.cnder that the insurance carrier ,..,a_ _
<br /> has offered to settle a claim, then Lender may collect the inswance proceeds. Lender may use the proceeds to repair ,,*;�lr��;__
<br /> � � or restore the Propecry or to pay sums secured by this Security instniment,whether or not then due. The 30-day period ��••�_.
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<br /> will begin when the notice is given. " �'�'�`�=
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<br /> d) Except as provided in subpazagraph 4(e) below, slwuld partial or complete destNCtion or damage occur to the •�=� -
<br /> Property,Borrower hereby agrees that any and all insiruments evidencing insurance proceeds received by Lender as a tr�"�:.V ;.;_f'r"�� f
<br /> result of said damage or destruction,shall be placed in a non-interest bearing escrow account with Lender. At Lender's � ,, .,��:..'�
<br /> ' discretion, Lender may release some or all of the proceeds from escrow after Bonower presents Lender wilh a •s�;;�;:•:i =. '.,
<br /> receipt(s),invoice(s),written estimates(s)or other document(s)acceptable to L.ender which relates to the repair anNor •. ;ry
<br /> � improvements of the Property necessary as a result of said damage and/or destruction. Absent an agreemeat to the
<br /> � contrary,Lender shall not be required to pay Bonower any interest on the proceeds held in the escrow account. My
<br /> i amounts remaining in the account after all repairs and/or improvements have been made to the L.ender's satisfaction,
<br /> shall be applied to the sums secured by this Deed of Trust,Deed to Secure DeUt,or Mortgage. Borrower further agrees
<br /> � to cooperate with Lcnder by endorsing ail, che�;ks,dratce andlor other instruments evidencing insurance proceeds;and
<br /> any necessary documents. Should Borrower fail to provi�e any required endorsement and/or execution within thirty(30)
<br /> days after Lender sends borrower notice that I..ender has received an instrumene evideneing insuranee prcueeds,vr
<br /> � document(s) requiring Borrowcr's signature, Bonower hereby authorizes Lender to endorse said instrumcnt andlor
<br /> � document(s)on Borrowers behalf,and colle.c[and apply said procecds at L.ender's option.either to restoration ar repair I
<br /> of the Property or to sums secured by chis Dced of Trust, Deed to Secure Debt,or Mortgage. It is not the intention i
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<br /> of cither party that this escrow provision, anciior i..cnuer's euuv�sa���eat �. czc;.�:i�: ... w. ......._.....__,_, _ � .
<br /> document(s)on bchalf of Bonower create a fiduciary or agency relationship betwcen Lender and Borrowcr.
<br /> ' e) Unless Lcnder and Borrower ochenvise agree in writing,any application of procceds ro principal shall nut extend
<br /> or pustponc thc duc datc of thc monthty payments rcfcrrcJ to in paragraphs 1 and 2 or chanec thc amount o(thc
<br /> paymcnts. If undcr paragraph IG thc Propcny is acyuircd by Lcnder, Borrowcr's right to any insur�ncc policicsand
<br /> procceds resultin�from damage to thc property prior io thc acyuisition shall pass to Lcnder ta thc cxtcnt of thc surns
<br /> secured hy this Sccuriry Instrumcnt.
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<br /> I:y;e 2��i S �n1.v71 NI 1 R�ARM117.1 17a-�d �
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