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<br /> U NIFQRM COVENANTS.Borrowor and Lendar covent�nt and agreo as follovrs: '�/ �
<br /> 1. Poyment ot Prinr.lpal nr�d interest.8orro►ver shall promptly pay when due the princlpal end Intoroat Indebtedness
<br /> evldenced by tho Note and late chargos sa provlded In the Noto.
<br /> 2. Funds for'P�xaa a�d Inei�rance.SubJect to appllcabte Isw or a wrltten welver by Londor,Eorrawor shail pay to Len�or �
<br /> on the day monthly payments of principal and Interest�re payable under the Note,unYll the No2e is pnlci In full,a sum(heraln �,
<br /> � "�unde")equal to one•twel(th of the yearly taxes and assessmente(Including condominlum and plannad unit development
<br /> � assessmenta,if eny)whlch may attaln prlorlty over thla Deed otnust,snd ground rents on the Property,Ilany,plus�ne•4welfth -
<br /> 07 yearly premium Installmente for hazard Inaurance,plus one-twetfth of yesrly premlum Installmenta foe mortgage Inaurance,
<br /> . � if any.all as reasanably estimated initlally and irom tlme to tlme by l.ender on the basis o9 asseasments and bill�and ron3onablo „
<br /> estlmates thereof,Borrawer shall not be obllgated to make such paymento of Funds ta Lender to the oxtent that Borrower makes
<br /> �� such paymenta to the holder of p nrlor mortgage or deed of trust If such holder is an Institutlonal lender.
<br /> If Bo�rowor peys Funds to l.ender,the Funde shall be held In an Institutlon the deposits or accounto of which are Insured „ . ,
<br /> or guaranteed by s�ederal or atate agency(Including Lender If Lender Is such an instltutlon).Lender shall apply the Funds
<br /> to pay said taxes,sssessments,insurance premlums and ground rents.Lender may not charge for so holding and ap�lying
<br /> the Fund�,analyzing safd account or verlfying and complling snld assessments ancl bllls,unless Lander pay�Borrower Interest .
<br /> on the Funds and applicable law permits Lender to maka such a charge.�orrawer and Lender may agree in writing at the tlme :
<br /> ' of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower,and unloss such agreement Is made or :�;• �.;� ,
<br /> ...:Aeifi�Y'
<br /> ' , � applicabte law requires such intereat to be pald,Lender shall not be requfred ta pay Borrower any Interest or eamings on the ___�_
<br /> Funds.Lender shall give to Borrower,wlthout charge,an annual accounting of the Funds showing credits and debits to the ;,��,�;H��y.
<br /> Funds and the purpose for whlch each debit to the Funds was made.The Funds are pledged se addltional securiry for the euma ,�ti_�� -
<br /> sccu red by thia Dead of TPust. °` -
<br /> If the amount of the Funds held by Lender,tugether with the future monthly instaliments ot Funds payable prior 4c►ii�e due • _ ____
<br /> dates of taxes, assessments,insurance premiums and ground rente,shalt exceed the amount required to pay sald taxes. k�-=--�
<br /> assessments,inaurance premtums and ground rents as they fall due,such excoss shall be,at BorrQwer's option,either promptly �;��---
<br /> repaid to 8orrower or credlted to 8orrower on monthly insfallments of Funds.If the amount of the Funds held�y Lender shall ; '�,;L�_�
<br /> not besufficiant to pay taxes,assessments,Insurance pramiums and ground rents as theytall due,Borrnwer shall pay to Lender .:�- - _
<br /> �, any amount necessary to make up the deticlency in one or more payments ae Lender may requlre. .
<br /> Upon payment in full of all sums secured by this Deed of Trust,Londer shall promptly refund to Borrower any Funda held �
<br /> �• by Lender.If under paregraph 17 hereof the Property is sold orthe Property is otherwise�cquired by Lender,Lender shall apply, ,:,:'s•,c. .
<br /> :� no later than immediately prlor to the salo of the Property Qr Its acquisition by Lender,any Funds held by Lender at tho time ;.-��_�,;�'
<br /> � of appllcatlon as a credit against the sums secured by this Deed of Yrust. ���;�;�. . ?':
<br /> �. AooflcaUon of Pa��ments.Unless applicable law provides otherwise,all payments received by Lender under the Note .,��, ; �,
<br /> • and paragraphs 1 and 2 hereof shall be applied by Lender first in pnyment of amounts payaoie io Lvriuv�by o���ar un�ss - - --�
<br /> paragraph 2 horeof,then to interest payable on the Note,and then to the principal ot the Note. �� � �!,.-
<br /> 4, Prlor Mortgeges and Deeda of 11�uat;Charee�;Ltens.8orrower shall perform all of Borrower's obllgations undar any ; :,, :�
<br /> morigage,d�ed of trust or other secur(ty agreement with a Ilen which has priority over this Deed of Trust,including Borrower's `� ;�A�_
<br /> �. :� � covenants to make payments when du�.Borrower shal I pay or cause to be paid ali taxes,sssessments and other chargea,fines ,,�
<br /> .��,_ ' �nd im�sitions attrlbutAble to the Property which may attaln a priority over this Deed of Trust,and Ieasehoid payments or ground
<br /> t� .
<br /> rents,If any.
<br /> S. Hererd Insurance.Borrower shali keep the Improvements now exlsting or hereatter erected on the Property Insured `' 3�`
<br /> ' .. • agai nat loss by fire,hazards included wfthin the tarm"extended coverage",and such other hazarcls as Lender may requlre _ ,
<br /> and in such amounts and tor such periods as Lender may require. �----
<br /> The insurance carrfer providing the insurance shall by chosen by Borrower subJect to approval by Lendor;provlded,that ,�, �`
<br /> �• suct�approval ahall not be unreasonably withheld.All insurance policies and renewals thereof shall be in a form acceptable =�-�-��'4`-
<br /> ' „ to Lender and shall include a standard mortgage clause in favor of and in a form acaeptable to Lender.Lender shall have the -
<br />-� ' � ; right ta hold the policles and renewals thereof,subject to the terms of any mortgage,deed of trust or other security agreement
<br /> ,,,;, with a Ilen whfch has prf�rity over this Deed ot ltust. _
<br /> - . �' '. In the ever�t of loss,Sorrowar shal!givo prompt notice to the insurance carrier and Londer.Lender may make proof of losa __-__ --_ -
<br />'� �"'`' it not made promptly by 8orrowec
<br /> �:�ivs�r::-
<br /> � Itthe Property i�abandoned by Borrower,or it Borrower faiis to respond to Lender within 30 days(rom the data notice is � •;;�,�!_r,•
<br /> � mailed by Lender to Borro�Her that the insurance carrier oNers to settle a clalm for insurance benefits,Lender is authorfzed �,`,;�_.
<br /> to collect and apply the Insurance proceeds et Lender's option efther to restoration or repalr of the Property or to the sums securgd • •y�-�:,:—
<br /> ' by thls Daed of lhust. ����'`��'
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<br /> • 8. Preaervation end MAlntenance of Rrope�ty;Leaseholds;Condomtnlums;Ple�nned Unit Dglelopmenta.Borrower ��,��-,��;,,_,,,,�,-_
<br /> � shall keep the Property in good repafr and shall root commit waste or permit Impairment or detorioratlon of the Properry and :z ,_
<br /> shall compiy with tho provislons of any Iease if this Deed of Yrust is on a leasehold.If thls Deed of TUust is on a unit in a �� , �� �;;i
<br /> condominlum or a planned unit development,Borrower shall perform all of Borrower's obllgations under the declaration or :�t.. :�,1:+:, . _.,,•
<br /> covenants creating or governing tho condominium ar planned un(t davefopment,the by-laws and regulatlons o}tho condom(nlum -.;:�s;.;;.+�:.�:'�`
<br /> ' �'+h�1W'w.'!�.�� ::..,:�.
<br />- c�- '". or planned unit development,and constituent documents. . '� ,
<br /> . 7. Protectlon of L,onder's Security.If Borrower tails to perform the covenants and agreements contained In this Doed .
<br /> of Truet,or If any action or proceoding is commenced which materiaily aHects Londor's interest In tha Proporty,then Lender, , ,,,,;,;'r..,°_:'�
<br />- . at Lender's optlon,upon notice to Borrower,may make such appearances,disburse such sums,including reasonable attorneys' . „ . .
<br /> tees,end take such actlon as is necessary to protect Lender's interest.If Lender requfred mortgage insurance es a condition .
<br /> of makingthe loan secured by this Deed of Trust,E3orrower shall pay the premlums requirod to mafntain such insurance in eNect .
<br /> . until suchtime as the requfrement for such insurance terminates in accordance with Borrower's and Lender's written agreement
<br /> or applicable law.
<br /> --- . . . ... .. � ...�.� �-'--_�•�...�...... ..���...iJ..�e.nfe oi�n�l hnnnrv�n �
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<br /> Any amounts disbursed by Lenaer pursuani tv m�s p�ragrapn �,wnn tntv�oaa tna�w�q ua.��.�.....+.......�.....�...-.�--•••- - _"}, -
<br /> additionai indebtedness of Borrower secu�ed by this Doed of Trust.Unloss Borrower and Lender agree to other terms of payment,
<br /> such amounts shall be payablo upon nQtice from Lender to Borrower requesting payment thereof. Nothing contained in this ;
<br /> paragraph 7 shali requfre Lender to incur any exponse or taka any action hereunder. ,
<br /> - 8. Ins�tection.Lender may make or cause to be made reasonable entries upon and inspections ot tha Prdperty,provided
<br /> that Lender shall give Borrower notice prior to any such inspectfon spacifyfng reasonable cause therefor rolated to Lender's •
<br /> Interest in the Property.
<br /> � 9. Con�iemn�tlon.The proceeds of any award or clafm for damages,direci or consoquential,fn connection with any
<br /> condemnatfon or other taking of the Property,or part thereof,or for conveyance In Ilvu uf condemnation,are heroby assigned �
<br /> - and shali be pafd to Lender,subJect to the terms of any mortgago,deed of trust as other security agroement wfth a Ilen which , _
<br /> has prloriry over this Deed of Truat. "
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