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<br /> ! • LLOYD 8 MUELLBR MARILYN MUSLLSR 200642 12/10/1996 j., `. '*,:t � �� ��'_
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<br /> !I"ttFegN!CpvElva.Nt'S. Bormwer and Lender covenant and agree as follows: 9�0 ���r�� �: _. � : ' --
<br /> :i • 1. Payment of Frincipal �nnd Inxer�,4. Borrower s5all prompdy pay �vhen due the pri�ipal and interest , -_ _
<br /> � indebtedness evidenced by the Note and late cbarges as pmvided in che Note. f . _; _
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<br /> ` � 2. Fcmds for Taxes and 1as�aa�ce. Sabject to applicable law or a written waiver by LeQder,Boaiower shaU pay to =,�_
<br /> ! Lender on the day monthly payments af principal and interest are payable under the Note,uiml the Noie is paid in full,a i
<br /> svm(�erein"Funds')eclual to one-tweifth of the yearly mxes and assessments(including condamiaiuw and plannrd uni[ � ; , , �
<br /> . developmeat a�encs, if any)which may attaia priority over this Deed of Tn�st.azed ground rents on the Praperty. if f ���~�
<br /> any.plus one-tarelfth of yearly premium installments for harard iusuiance.plus oae-twelfch of yearly pre�ium instapments � , '"�'
<br /> � for mortgage instuance. if any, atl as reasonablY estimated initially and fram time to time by Lender on the basis of j� ,
<br /> j asse�euts and bills and reaSOnable estimates[hereof. Borrower shall not be abligated to malce such payments of Funds � -
<br /> •- ''! to Lentter to the extent that Borrower m�kes such payucents to[he holder of a prior mortgage or deed of tmst if suc�holder , _
<br /> '-' is an insdtuuonal lender. � - - _ =-
<br /> ,� If Borrower pays Fnnds [o Lender. the Funds shall be held in an insritution the deposits or accounrs of wtuch are . �.y}v
<br /> • insured or guaranteed by a Fedecal or staie agency(inctading Ixnder if Lender is such an instituaon). Lender shall apply i .
<br /> ..� the Funds to pay said taxes.asse�ments.insurance premiu�s and gaound rents. Lender may uot charge for so holding and � ,- . . . . —
<br /> � aPP1Ying the F�s. analyzing said account or verifying and compiling said assessments and bills. unless Ixnder pays . • .
<br /> • 'i Barrower interesc on the�uads and applicable law permiu L.ender to make such a charge.Borrower and Lender may agree � , , . + '; •
<br /> ••� in cvriting at the ame of execution of this Daed of Trust that interest on the F�mds shall be paid to Borrower,and unless • ` . _
<br /> '� suct►agreeme�is made or applicable law requires such interest to be paid.l-ender shaU uos be reqniced to pay Eorcower � • . .. .}.a
<br /> a�y interest or eaznings on t'h.P.Funds. Lender s1mU give w Barrower.without c6argz.an annual accounting of the Funds . ,._�.
<br /> ,_� �flwing credits and debits to the Funds and t6e purpose for which each debit m s�: Funds was marie. Ttce Funds are , .J _
<br /> ei . F'h�... ,.<,�_-�.
<br /> ,� pledged as additional security for the sums secun�by this Dced of Trtt..�t. `�'.;.-..i ,.
<br /> If[he amovnt ot the Funds tteld by I.ender,togeth�r with the fi�..re monthly ins�allmerss crf L-'-�rnds payabce paor w . ,," ,.
<br /> �due dates of taxes, assessments. insur,�ce premi�ms aud ground rents.shall exceed the am►:�required ro pay said '� ... . --
<br /> :�� �a��. assessments. insnrance premiums and ground rents as they fall due. such excess shall be. at Borrou-�er's opdon. . .A��
<br /> , ��er promptly repaid co Borrower or credited to Borrower c�m m�nt�ly installa�enrs a�Funds. If the amount af�e Funds .-. --, ':�.:. "'�'
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<br /> held by Leu�shall nflt be sufficient to pay taaes, assessments. inc�ran�:premia�ns and ground rents as they fall due. .• •'„�...,. i
<br /> Bonower sh�St ruay ta Ixnder any aznount necessary+to make up [he deficiency in one or ucore payments as Lender may �'� : . ``�: z'..=-'
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<br /> ' Upon payment in fWl of all snms secured by dus Deed of Tn�t,Lender shaP!�,�pdy refund w Bormwer any Funds : � �'�,�:.3•'��'��.:�. P•
<br /> � � held by Lender. If under paragraph 17 hereof the Properry is sold or tbe Property i��erwise acqirired by Leader.L.ender .�C;r,,.�.�
<br /> '"` shall apply, nn later than immediate�y prior to tfie sale of the Property or its acqu-isi6on by Lender, any Funds htld by : �< • �.: ? ' t
<br /> -"�'� Lender at the time of application as a credit against the sums secured by this De�d of Trust. ' ��� . .`;.,-�t f.�_
<br /> ,". �r . �� •..:.�:t r'� .�,.
<br /> 3.A Itcatlon of Pg enis. Unless licable law rovides otberwise.all gayoenu recei�r3 by Lender under the c� .;•�'•:�'..' W
<br /> • pp Ym aPP P � ���� ::
<br /> �l��e and paiagraphs 1 and 2 hereof sl�all be applied by Leuder fizst in payment of auiounts payable to I.ender Cry'�oaower �;.: : �::.., T-"__
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<br /> . •� ;:,.der paragraph 2 hereof.then ta interest payable on t�.e Noie.and then w the prfincnpal of the Note. ,� ti`• ��•
<br /> _ . 4. Prd�s Mortgages antl�oY Trust; Cfaarg�; ldens. Boaower s�adt�erform aU of Borrower's ab::gations ���! ��.'�; ,.
<br /> under any �gage. deed of mist or other sec,vtity agreement vrith a lien wCic��as priority over this Deed of Tn�st, •`��► � t�` '�,�z":� �
<br /> �} • knc_uding Borrower's cove�cs W make paymeuts when due.Borro��;r sball pa}or caase W be paid all taxes.assessments �'Y � �
<br /> AitC�:
<br /> . amd other charges.fines and c�osidovs attdbntable to che Property wtuch may a:ea�a a priarity over tius Deed of Trust. r f . � �' --. - __
<br /> •�:�i teasehold payments or gcvund rents,if any. ''���f'�,grF�F-' ' • `•r" -
<br /> ': '.�[,2x`,✓J+i i �
<br /> . `� 5. Hazard In�surance. Borrower sball keep the improvements now existing oz herea�,��ected on the Property �.. �`�"�.= -
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<br /> insured against loss by 5re.ha�ards inciaded within tbe term"eatended coverage".and such c�r:arards as ixnder may ..,.,•�.i. " ,;,'•�;• �
<br /> . u,:�uire and in such amaunts and f or suc h peri o d s as L e n s l e r m a y r e q u i r e. 'r�s�- .' � ��^
<br /> The iasuraace carr�er providing the ins�uance s�'C 1�:chosen by Borrower s:L;xt to approval by Leader. �rovided. ,,:.;c.`'�.�_�^R
<br /> . tLat such approval shall noi be nnreasonably withhe::,1. ASl insvtance Pnlicies z� renctivals thereof stiall be in a form .��:;,g-
<br /> all :;P.r..��_.
<br /> .r�C->;.. '.•��.�,..
<br /> ' acceptable to Lemfer and shall inch�de a standard mortgas.clause ia favor of and i�a form acceptable to Lender. Lender 't�� _
<br /> � sball have the right w hold the policies and renewals the�eof,subje.4 sv the[erms of any mortgage.deed of m�st ar othes ��-_-�
<br /> secnrity ag�eemeni wlth a lien which has priority over this Deed of Tr�t. .�'�'�
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<br /> . In the event of loss.Borrower shall give pmmpt�.�Qx to the insivance carriee a�d I.ender. Ixnder may malce proof i�,�;±�-
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<br /> of loss if not made pnompfly by Borrower. �:, ��:,
<br /> • , If the Property is abandoned by Horrower.or if Borrower fails to respond¢� :.,.�"..LZ�Hi��in 30 days from the date : .;�����.
<br /> notice is mailed by Lender to Borrower tl�at the insvrance can�ier Q�ti:3s to settle a claim for'r.r�.-ance benefits. Lender is : .;�.;: .�_-�•
<br /> � authori7ed to collect and apply tUe ins�ur�nce proceeds at Lender's o�tion eithar to restoration or repair of the Properry or . :. -..
<br /> ' ' to the svms secured by this Deed of Tn�st. ,�-""Y�..•=-y
<br /> .� Plenned Unit Developmems. .
<br /> ` 6. Pr�ervation �nd MsiintenancP of Aoperty; Leaseholds; Condomini:�s; � _ .
<br /> � Bomnwer sba!1 keep the Property in 800d reQair and s1�a11 n°t commit waste or petmit i m p a irment or d eterioradon o f t he _ _: � _
<br /> , i propeny and shall comply with the pravisions of any leas$if this D e e d o f Tnist is on a lease ho l d.1 f W is D e e d of Tnist is �,;�;�,;;,;*..__
<br /> � on a unit in a condominium or a planned unit development.Bo:rower shall perform all o f Bonower's o b ligaaons u n der t h e � • �
<br /> dxlarstion or covenants cs�ting or goveming the condominium or planned unit development.the by-laws and regulations • .-
<br /> of the condominiwn or p!am�d unit development,and constituent documenu. . � •
<br /> 7. Pra¢ection of l��er's Securt2y. If Borrower fails to perform the covenauts and agreements contained in this
<br /> Deed of Tr�.or if any action or proc�ing is commenced wtuch materially affects Lender's intetest in the Property,then • .. _
<br /> Lender. at i�der's apdon. upon Ac'�x to Borrower. may malce such appearances. disburse such sums. iuctuding • � � �
<br /> � reasonable aaomeys' fees, and take sach acdon as is necessary to pmtect Lender's interest. If Lender required mort�a�e -
<br /> �nsurance as a condition o:�eialcing the loan secured hy tLis Deed of TTUSt. Borrower shall pay the premiumg required to
<br /> maintain such insurance in effect �mtil such time as the requirement for suc� insurance terminates in accordance with
<br /> Borrower's aad Len�er's written agreement or applicable law. ' . -
<br /> Any amounu disbursed by Lender purswwt to this paragraph 7.with interest thereon. at the Note rate,shall become
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<br /> ' addition�tl indebtedness of Borrower secured by this Deed of Tn�st. Unless earrower and Lender agree to other rerms of
<br /> payment. such amounts shall be payable upon nouce fcom Lender to Borrower requesung paymene [hereaf. Nothing � � �-
<br /> contained in tivs paragraph 7 shall tequire Lender to iacur any expense or ta6e any a�:tion hereunder. ,
<br /> 8. Inspectlon. lxnder may make or cause to be made reasonable entries upon and inspections of the Praperty. ; . �.
<br /> � provided that Ixnder shall give Borrower notice prior to any suth iaspecaon specifyin�reasonabl�cause therefor related to . •
<br /> Lender's interest in the Prupeny. ' � • �
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<br /> Nenrnst�2s87�-3 I t�96 Origiaab(ROCOrded) Copy(Hraaeh) Copy(Cuetomer) rage 2 ot 5 � � • . : . _
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