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<br /> � kIRK BARNHILL JUI�IB A RARNIiILL �� ������ 100693 02/12/1997 [' - _ - ---. --_�.- -
<br /> UNIFORM CovBNANTS. Barrower and Lcnder coven�uit and ugree as follows: 5
<br /> 1. Paymetet ot Princlpwl and Inteeest. F?onower shall prompdy pay wben due the princlpal and interest _.
<br /> indebtedness evtdenced by the Note and late charges es provided in the Note. �
<br /> 2. �tnd�for Tnx�and ingur�ce. Subject to appllcable law or a wdtten watver by Lcnder,Bonower shall pay tu ir°
<br /> Lender on the day monthly payaaeata of pdnclpal and interest sue payable under the Note,untll ti�e Nute is paid in full,u ��
<br /> � sum(herein "Funds") equal ro one-twelfth of the yeuly taaes and assessments(including condomli�ium a��d planned unic
<br /> developm:nt ^ssessments,if any) which may attaln prioriry over this Deed of Trust,and gr�und rents an the Property, if
<br /> any,plus one-twelfth of yearly pYemium Wstallments far ha�srd insurance.plus one-twelfth of yearly prewium�u�stallcuen�ti ,
<br /> for mortgage insurance, if any, all as reasonably esdmated inidally aa.d from time to dme by Lender on the basis of .. _
<br /> ' , -�- assessments and bWs and reasonable esdma,tes thereof. Borrower shall noc be obligated to malce such payments of Funds
<br /> ,, ta I.ender to the extent that Bonower mekes such payments to the holder of a prior mortgage or deed of m�st if such holder
<br /> is an insdtudonal lender. �
<br /> If Borrower pays Funds to Leader, the Funds shnll bs held in an insdtudon the deposits or accounu of wh�ch are " �
<br /> Insured or guaranteed by a Pederal or state agency(including I.ender if I.ender is such an Insdn►don). Lender shall apply �
<br /> the Funds tn pay said taxes. assessmenu,insuraace premiucns and gcound mnts.Lender may not cLarge for so holding and � ., ,�
<br /> PPY�B fY�S E � unless I.ender pays , . .,�•.:;�;;:,:,�'•�,
<br /> a 1 ' the Funds, w�aly�n8 saId account or veri and compilin said as..essments and biUs, ,,:, .,����
<br /> _.�, Borrower im�terest on the Ft��ds and appllcable law permits Lender to make such a cbarge.Borrower and Lender may agree �:: :. ;. :��_���_`
<br /> ���:;.�'r•
<br /> `s�, in wrldng at the dme of eaecudon of this Deecl of Tn�st that interest on the Funds shall be paid to Borrawer.and uWess •,:� _ *�•,_�*.�;.
<br /> su�h agreement is made or applicable l�w requires s►►ch interest to be paid,I.eader shall nnt be required to pay Horrower ,'=��3
<br /> �� auy interest or eamings on the punds. I.endar shall give�tofor which�each debt�toghe Funds wes made.nThe P i d.�re .�;�_�
<br /> Showu1g rrHlits arnl dPh1tF ro rhP Fuads end the pucpo :
<br /> • pledge�i as sddtdon�!secuirity for the stims secured by thia Deed of Tcust. �.��
<br /> � If the amount of the Puude held by Lander, together with the future monthly installmenta of Funds pAyable prior to „ T - -
<br /> ' the due dates of taxes. asse�sments, insurance Prenilwns u�d ground rents, sl�all exceed the a�aunt nquired to pay sAid ..•n�:�` �
<br /> � �� taxes� �stssmente, insurAnce pnmlun�v +wd giound rents as they f�ll due. suc� excess shAll be, �t Borruwer'R opdan. =— -
<br /> � � eitdsr prompdy np�ld to Harrower or crcdlted to Bonower ofl monthly ln�u�llmcntx of Funda. If the�unount of the FunilA . �I .�'wm
<br /> �' i held by I,�nder stull aot bc sufflctent to pay tuets,�ssessnnent�. Insurance premiun�s ruxl $eound rente�s titcy fal! due.
<br /> n,�
<br /> • �# Borrower s1u�11 p�y to l,�uder wny amount necess�uy to uukC up tGs deflclency ln oae or more aymeuts�s Lender n�y
<br /> - t require. "
<br /> ___..�, Upon psyment In full of�11 Eun�s secured by tWs Deed of Trust,Lender slull pron�pdy retiand to Borrowar tny Funds }�
<br /> " held by Lender. IP under pu�ar�ph 17 hereof t6e Property is soid or�he gcopoRy is oiLccw.n��cy"u::�!s3�.�.s".:..-r�i--=s�1=* ;._
<br /> � sh�l spQly. no ltter Yhu� i�nmedlttely priar to the sale of the Property or ite acquisidon by Lendei. any Funds held by � .y
<br /> Lender�t the tim�e of appllc�dan av a cndit Against the sums secured by thls Dad of Trust. :
<br /> 3.Applicatlon ot Aa�rmenta. Unless appllcable law provides othenvise,all payments received by Lender under the ; � :_�
<br /> � Note and Qac�grApl�s 1 and 2 herrof shaU be applied by Lender first in payment of amounte pnyable to Lender by Borrower ;�_
<br /> '�
<br /> �" under puagnpL 2 hereof, then to interest payable on the Note,and then to the pri�ipal of the Note. _
<br /> 4.Prlor Mart=a�ee and Dee�b o[TcuaSi C1�tr�eei ��• Horrower shAU perforai all of Bormwer's obligadons ,',.
<br /> �� under an y mo�'tgage. dxd of uvst or other sscurlty Agn:ement with a lien which h�s prlorlty over this Deed of Ttust. •,
<br /> - including Bairower's covenancs to make payments w hen due.Borrow e r s 6 a 1 1 p a y o r c a u s e t o b e p a i d a l l t a x e s,a s s e s s m ents
<br /> � And other charges,8nes and imposidoas atalbutable to the Property whfch maY attain a prlorlty over this Dced of Tiust.
<br /> » �• � and leasehold paym�nts or groiwd rents, if any.
<br /> S.Hszard Lnurance. Bonower s6all keep the Improvements now existiug or hereaR�r erectal on the Property �-'L''
<br /> .�� :• ,:, � • insured u�taiast loss by fire.harrrds�ucluded wlthin the term'excended cove�age',and such other Hauinds as Lender may
<br />', � ...;-��;a.<.. ` nquire snd in such Amouats Qnd for such pedods as Le�der may require.
<br /> ,.-• ' .�����r proyi�g�h�ins�rance shall be chosen by Bonower subject to approval Uy I.ender;provided.
<br />•�,�• . .
<br /> � that such appmv�l shall not be unreasonably wlchheld. All insurance Wlacies and nnew�ls thereof shaU be in a form
<br />_,,,. ;, ' acceptable to L.ender and sba11 fiuclude a stanclard morcBaBe�l�use in favor of and in a fcim acceptable co I.ender. Lender
<br /> � s6ell hive the rlght w hosd tho policies and renewala thereof,subject to the teims of any mortgage.dxd of uust or other
<br /> =" securlty agcee�ent with a lien which 1�prlority over this Deed of Tn�st.
<br />=�'��,��• �� In the event of loss. Dorrower shall gtve prompt nodce to the insurance carrler and I.�nder.L.ender may make proof
<br />�`� -:a1�;"�" of lvss if i�,�mu►de p,uwpily by Burrower. --
<br />�"'���•�� � If the Property is nbaaclo�d by Hormwer, or if Burrower fails to cespomd to Lendea within 30 days from tlie date —
<br /> . nodce 1s mailed by Lender to Borrower ttu�t the insurance can'i�r offexs to settle a claim for insurair.e benefits. Lender is ����
<br /> suthoriud ro collest and apply the insurance proceeds at Lender's option either to restoradon or repaic of the PropertY ar ��'�---
<br /> s �g�r
<br /> to the sun�s secund by this Deed of Tcust. �'�!j;�_�•-�
<br /> �� 6. Prexrvation and Malnte�nce of PropertYi I.easeh�lds3 Condanlnlutasi Planned Udt Devclopmmte. x":
<br /> ,�;����.s.
<br /> � Bomoaer alull keep the Property in Baod rePair and s�alt n°�commit waste or pemnit impairment or detedorndon of the ��,�-r�,�
<br /> ` � prop�rty and si�ll compiy wlth the provisioas of any lease if this Deed of Trust is on a leusehold. If th�.s Deed of Tmst is �•� =,;a;;i;t��;,,,:_
<br /> , ,� ou a unit in a coadominium�r a plauned unic devolopment,Bonower sUail perform a�l of Dorrowtr's obligadons under the �.-.�:,�'�•;y7p'�x;�,�:�
<br /> �. :.,;,•f- �,.
<br /> declaradon or covenauts cre�dng or goveming the condominlum or plawxd unit development. the by-laws and reguladovs ,�' �
<br />� Y. :.�.
<br /> �� � of the condomiuium or planned unit development,and consdn�ent docwnents. � ', ��--���.
<br /> 7. Pirotection ot I.enda''e Security.If Borrower fails to perform the covenauts and agreements conqined in this ,
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<br /> � � Deed of Tmss.or If any acdon ar pmceeding is comu�enced which mateda�ly affects L.ender's interest in the Property,then
<br /> ' --_= . -- ---- ' -.-- -. *Y.t��� ....�i.... ��nnn nntirn tn Anrmwei. mSY IllB�Ct' such appearances, disburse such sums, IIICill�II$
<br /> -..---_ . --.._._.... utuctr at uuw.o .,s........ �r,._ �__ ,.
<br /> ' reasonable attorneys' fees,and take suGh acdon as is necessary to protect Lender's interest. If Lender requireti mon8�8� -.
<br /> - In�urance es a condidon of muking the loan secured by this Deed of Tcust,Borrower shall pay tiae p*emiums re9uired to
<br /> y maintnin such insurance in eff�ct undl such dme as the requirement for such insurance rerminates in accordance with
<br /> - Bomower's and Len�der's wriaen agreement or applicable law. h�' ���aterest thereon,at the Note rate,shall become ' �
<br /> - pny amounts disbursed by Lender pursuant to this paragrap �
<br /> addidonal indebtedness of Borrower secured by ttus Deed of Trusc. Unless Borrower and L.ender agres to other terms of �
<br /> payment, such amounts shall be payabl� upon notice from Lender to ]�ocmwer requespng payment thereof. Nothing
<br /> coataiueci in chis paragcaph 7 shall require Ixnder co incur any expen.se or take any action hereunder.
<br /> 8. Ins�eCtton. Leuder may make or cause to be made reasonable eutries upon and inspecdons of the Pmperry, .
<br /> provided tLat Lender shall give Borrower nodce prior to any such inspecdon specifying reasanable cause thei^efor related to
<br /> - I.sn�er's interest in the Properry.
<br /> Ncbreeke26876-311196 OYiginal�R�cord�d) COpy(Hi'anCh) COpy(CuCtoma�C) peE�2°�s –'J
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