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<br /> UNIFORM CCVETAMS.Borrower and L,ender covenant and agrcc�foli�ws. . �
<br /> ' 1. Faymeat of Printipal end Interes4 9urrowM shaSl prompdy pay when due the pnnc�pal and mterest indebtedness evcdeaced by . ,
<br /> ` ,� the Note and late charges as provided"m the iJote. : ' . ' ----
<br /> ' 2. Funds for Ta:es und lnsuranee.Subject to appticable law or a wntten�vaiver by Lendet,Borrower shall pay to Lender on the _ _ -
<br /> day monthly paymenu of principal and interest are payable under the Note,until the Note�s paid m full,a sum(herem"Funds")equal m one- _ r ;=
<br /> n velfth of the yearl y taxes and assessments(inclu3in�condominium and planned unit de�elopmcm asse.ssments. if any), whtch may attain ':{,
<br /> priority over this Qeed of Tnrst,and ground rents on the Property.if any,plus one-twelfth of yearly premmm in s[a l lmen u for h a z a r d insuraace. . `. , _-
<br /> plas one-twelfth of yearly premium mstallments for mortgage msurance,if anY.all as*eas°nab1Y est►mated inirially and from time to time by -
<br /> Lender on the basis of assesssments and bills and reasonable estimates thereof.Borrower shall not be obligated to make such payments of Funds
<br /> sm
<br /> to l.ender to the extent that Barrower makes such payments to the holder of a pnor mortgage or deed of wst it'such holder is an mst�tuaonal C ^ ._.
<br /> • ,� lender. .' ' ,
<br /> If$orrower pays Funds to Lender,the Fun�shafl be held in an insnnnion the deposiu or accounts of which are insured or guaranteed
<br />--j by a Federal or state agency(inciuding Lender if i.cuder is such an institutioo).Lxrder shall apply the Funds to pay said taxes.assessments, f ` -- ` ---`
<br /> ;nsuraace premiums and ground rents.Lender may not chazge for so holding and applying the Funds,analynng said account or verifying and
<br /> compiling said assessments and bills,unless Lender paYs Bo�rower interest on the Funds and applicable law pemtits E.ender to make such a . . . . �
<br /> charge.Bortower and I.ender msiY aSree in writ�g at the time of execution of this Qerd of TnLSt that iaterest on the Funds shall be paid to _
<br /> . Borcower,and unless such agreement is made or applicable law requires such iaterest to be paid�der shall not be required to pay Bortower
<br /> " any intecest or eamings on the Funds.Lender�all give to Borruwer,without ctiarge.an annual accounting of the Funds showing credits and .
<br /> debits to the Funds and the pwpose far which each debit to the Funds was made.The Funds aze pledged as additional securiry for the sums , , .
<br /> seciued by tbis Deed of Trust =_—
<br /> If the amount of the Fands held by L.ender,wSether with the fimue monthly instaliments of Funds payable prior to the due dates of
<br />. - taxes,asseuments.insurance premiums and ground mnts,shall exceed the amoimt required to pay said taxes,assess�neats,insurance premiums .;;:;�•-�_,
<br /> � 1 an�gsound c�r:s as they fall due,such excess shall be,at Borrowefs option,either promPtly mPaid ta Borrower or credited to Borroaer on �
<br /> montbly in.,�',aIL_--�enu of F�mds-If the amount of the Funds held by Lender shall not be sufficient to pay ta�ces,assessmenis+ins�ance Ptemiums ''�----�
<br /> �` and groimd ceJts as they fall due,Bomower shall pay to Lender any amount necessary to make up the deiiciency in one or more payments as • ;:�:-_
<br /> Lender may-�nsire- ��,��.y_
<br /> �;,_�.r.
<br /> � U��aym¢nt in ful�of aII sums secured by this DeEd of Trust,Lznder sha11 promptly refund to Borrower any Fuia.�is held by Lender. �:* _t,�.._
<br /> lf under Pxra;,`�h 17 hereof the Property cs s:�<3 or the Properry is othemise acquired by l.ender,Lender�`-'I aPP�Y,no later than immediately . :�,
<br /> - - prior to the���of the Property cr its ac,.:.s�an by Lcmder,any Funds hetd by Lender at ti�e time of:�;,.i:�tir,n as a credit against the sums ...: ��$
<br /> _���._-
<br /> secured by this Deed of Ttust. . '"�!".R!',
<br /> 3. Appllruttoa aY C�'symeats.Unless applicable law provides otherwise,all ,.>�y�nents received by L.ender under the Note and , .��,_-_.
<br /> . P��P�1 and 2 hereof�s,:be applied by Lender fiist in payment of amounts payable to��der by Borrower under par�aph 2 hereof,thtn , �_�� _
<br /> to interest payable on the Note,and then to the principal of the Note.
<br /> 4:-�_' :,sF .:�.:
<br /> 4. i?rior Mortgsges and Deeds of Tras�Chsrges;Liena Borrower shall perform all of Borrowe�s obligations under any mortgage, .��•. � _
<br /> deed of trust or other security agreement with a lien which has priority over this Deed of Trust,including BoTrowet's covenants to caake � �
<br /> payments when due.Borrower shall pay or cause m be paid all taxes,assessments and other charges,fines and impositions attributable to the ';�,' �• ;
<br /> :�roperty which may attain a priority over this Deed of Trust,and leasehold payments or ground renu,if any. ,�;�
<br /> , 5. Anzard Insaranc�Borrawer shall keep the improvements now existing or�ereafter erected on the Praperty ins�ued against loss �. _ ;��•.:
<br /> by fire,harards included within the tecm"extended coverage",and such othec ha='•:s�L-"nder may require and"m such amounts and fe-such
<br /> �.- � . �x:.� ..,
<br /> ' periods as l.ender may require•
<br /> The insur�ce carrier providing the insurance shall be chosen by Borrower si:3:e�:::�approval�v Zender,provided.that such��-r*al �;� 'j�, `','
<br /> ° shall not be unreasonablY a�•�held All insurance policies and renewals thereof shall[r_xi a foan acceptabte w Lender and shall inc'_ade a ' '
<br /> . �•i •.
<br /> ` '° standard martgage clause m�;3vor of and in a form acceptable to Lcnder.I.ender shall hzvr rhe right to hold the poUcies�d renewals d►ereoi, _A r ..�`i;. ,
<br /> subject to the tecros of any n:ortgage,dced of trust or other securiry agreement with a lien which has prioriry over this Deed�i Trust .. :
<br /> In the event of loss,Borrower shall give prompt notice to th�insurance carrier and 1.ender.Lender may make pmof of loss if nas.r..�e �� `:
<br /> pmmptty by Borrower. �r�
<br /> If the Property is abandoned by Borrower,o:i;Borrower fails to respond to Lender within 30 days from the date notice is sr.��•ed by � ;;�:;,_
<br /> Lender to Borrower that the insurance cairier offers to settle a claim for insurance benefits,I.ender is suthorized W collect and a�;y the �. ,r�,,,�.
<br /> insvrance procetds at I.ende�'s opdon either to restoration or rep�ir of the Property or to the sums secured by this Deed of TrusY. � � . �,,,'.,_�
<br /> � • 6. Pstservatlon and Maintenancc af Property;LeasehoIds;Condomininms;Ptanned Unit Developments.Borrower s'+�keep ��.....�..�».-,_--
<br /> tho propecty�good repair artd shall not commit waste or permit impairment or deterioration of the Property end shall wmply F��the ��'"_
<br /> � provisions of�y tease if this Deed of Trust s on a leasehold if this Deed of Trust is on a unh in a condominium or a ptanned unit deve°a�r.�tt, ����--
<br /> Botrower shall perform a?I c£9orrowc�s o's::gaHons under the declaration or covenants creating or goveming the wndominium or planneci unit � �` -
<br /> developmen�the by-la�vs�rj:segulations of the condominium or planned unit development,and constituent documents. _ ���.: `
<br /> ,. 7. Protecbton cs�der•s Savriry.If Borrower fails to perform thc wvenasis�d agreements contained'm this Deed of'P�ust,or if
<br /> ' ' any action or proceeding is coTmnenced which materially affects lxndefs interest in the Property,then Lender,at Lendefs aption,upon notice to ��'�""';.
<br /> • Bortower.c-ay make such appearances,disburse sueh sums,including rez�czable attomeys'fees,and take such action as is necessary tm�ratect ____� �•
<br />� Lendefs i~.Erest If Lender required mortgage insurance as a condition c°m::rking the loan secured by this Deed of Tnut,Borro�ver shali,�ay d►e �'�•='� - ;
<br /> �r�.d•:�
<br /> pretniums required to maintain such insurance in effect until such time as the requirement for such insurance temrin2:�in accorda.x with ��,��.�,�;-�•.��
<br /> ' � Bottouer's and l.ender's wtiuen agreement or applicablc law. .��T - �' -'• "
<br /> ';-,:�.•,?•��,,
<br /> � Any amounts disbursed by Lender pursuant to this paragraph 7, with intcrest thereon,at the Note rate, syall become addirional �
<br /> ' •'� indebte�.�of Bono�ver secured by this Deed of Trust Unless Boaower and Lender agree to other te^�s of payment,such amouns shall be ;',�,�������
<br /> z��' . _. ent thereof.Nothin cantained in tb.:..�pa,.�aph 7 shall require Len3er^�incur , �
<br /> payable c.�7 norice from Lender to Borrower rcquesting paym � �..� �
<br /> . aay expense or take any action he►�eunder. -. " �-•
<br /> 8. Inspectton.Lender may make or cause to be made reasonable entries upos w�d inspections of the Property,provided that Lender =-�`�A'.•. ,
<br /> shall give Bormwct noric_,rior to any such inspection specifying reasonable cause th�:�.r related to Lem de rs interest in t he P r ope c t y. :;;�}�.«,���,,.,,.
<br /> 9. Condemnatian.'I4�e proceeds of any award or claim for damages,direct or consequential,in wnnection with any condemnation or `,�s�;t: ,,. ,�•
<br /> - U.r... a: +.":
<br /> other taking of the Property,or part thereof,or for conveyance in lieu of condemnation,are hcrcby assi�ned and shall be paid to Lender,subject --•---.�.,�:�:=..-::.�- -
<br /> to the teams of any mortgage,deed of trust or oiher secunty agreement wr�,a lien which htis priority over this Dced of Trust. .T��
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<br />' ta. Borrower Not Released; Forbearance By Lender l�cc a Wn(ver. Extension of tfie time for payment or modificauon of .
<br /> amorti7anon of the sums secured by this Deed of Trust g�ted by Lender to any successor in intcrest of Bortower shall not operate to rclease,in , •
<br /> .� �,, any manner,the liability of the origmal Borrower and Borrower's successors in ' �
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<br />_ _.._ ;�E;��S;iA•SE�O*ID MORTrq�+�.-1/R0 FNMA/FHLMC iJNIFORM INSTIdIJ1V�N Page 2 of 4 FoTm 3828 � --- -- - .. ._ °
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