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<br /> �:�'.• ��:,r�: Bormcver cavenants that Borr��er is Iawfully se�sed of the estate he�sy comreyed and has the right tfl gcant and oomreY dte .. `'. -
<br /> � '�,5•1 �P�r and that We Progeriy is uneacumbcred,exo�t for encumbranoes of r000rd Barmwec oovenaats that Bormtiver war�a�s � ��., F:,�:•. .
<br /> � _ and w�71 ddea�generally the titIe w the Property against all claims and demands,su@ject to encumbraaas of reoord.
<br /> � , � i1NffORM(70VENAM'S.Barraaer aud I.eader oovenant and ag�ee as folloas: `` ' . ' 4:.`:;
<br /> � �. l.�aymentotPeincipalandlate�sst.Borrawershallgrompttypaywhenduetheprincipalaadintereatindebtednes.sevidenced �
<br /> . � - by the Note and tate charges as pmvided in the Not� .<•,::`��.
<br /> '. � 2.�nds ior Ta�es and iasarea�Suh,�ect to app&cab2e taw or a wriuea�vaiver by I.ende�Boaower shall pay to I.eader on ° ..:';
<br /> ,;.:�--� thedaymonthlypaymentsofprincipalandinterestazepayablee�ndertheNoi�unlittfieNoteispaidinfiil7,asum(herein"Funds'� . . ,`.
<br /> - �� '- equattoone-twelflhoftfieyeartytaxesanda��ements(includingoondominiumandplannedunitdevelopmeniassessme�s.ifanY) .*�`� �
<br /> . � `� which mayr attain priority aver this QEed of Tn�,aud gronnd zenLS oa the Property.if anY,Plus ono-twelfth of Y�Y P��° �-.� t`4;,_}.
<br /> . • �' ' installme�s for hazard insaiance,Plusone-tvrelfth ofyearly premium instaUments for morigage wsarance,if anY,all as ieasonabty . .
<br /> - � " • . estimatedinitiallyandfromtimetotimebyI.enderonthebasisofa�ssmentsand6illsandieasonableestitnatesthereof.Bormwer .
<br /> .``� . s6a11 noibe obligatedw make sucBpa,yu�enis of Fuads to I.ender to ihe extent tbat Borrower makes sach paYme�s to the hotder of . � �
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<br /> • . .. � a prior mon�age or dced of trast if such halder is an msstitutional tender_ •
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<br />- If Bonower pays Funds to Lender,the Funds sLall be held in an institution the deposits or a000un�s of whicb are insuzed or =
<br /> ,, � � ' �by a federal or stateagenc.y(iactuding l.ender ifxxader is such an ins�iwiion}_LeadershaU apply the Funds to pay said � . -
<br /> . i�suraaAepremmmsanstgmundrents.LendermaynotchargeforsoholdingandapplyingtheF�►ds,analYiinS ` � -
<br />- . t27ceS,�eIIiS. . `-:•:i�:-
<br /> . , :''` ..,` � saidaaoountorverifyin8andwmPilingsaidassessmentsandbills,nnlessLenderpaysBo�owerinterestontheFundsantlapplicable _ r�,� .•--_---
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<br /> • °:, law permitsl.�nder w make sucb a cbarge-Borrower and T�.ender may agree ia writing at the time ofexecution of this Deed of Tnist _-
<br /> . tbat intecest on the Fuads sha11 be paid to Borrower,and antess sucL agreement is made or agplicab2c laa requires such int�st w • __
<br />; r ' ,� 6e Paid,Leader shall not be required to pay Bormwer any in�or eamings on ttie Funds.Leuder shall give to Borcower,wiihout �� .��• -_
<br /> . ' • char8e.aaaimnalaccuuatingoftheFandsshowingcreditsanddebitstotheFundsandthepurposeforwhicheachdebittotheFaads ` ;,l��_---
<br />'?:� . � ' was made.The Fwuds are pledged as add"ntional seWrity for the smws secured by this Deed of Tmst. `.:f'`-.;z-
<br /> ' ` �'� � IftheamoantoftheFundsheldbyLendes,tageWerwiWthefumremont�tyiustal�•ne„tsofFundspayabtepriortotheduedates '�� t_` --
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<br /> � - of taxes,assessments,insurance premiums and gmund rents,shall excceed the amown reqaired to pay said taxes,assessments, _,_
<br /> . in�uancep�emiumsandgronndrentsastheyfaUdue,sacheaccesss6aU6e,atBonower'sopda.;eitherpmmPtlyrepaidtoBonower . �--
<br /> . , � , ar credited to Barrawer on montbly installments of F�nds.If the amount of the Fnnds held by Leader shall noi be sa�cient to pay � '-x'��;:*�_
<br /> r . "�_.�'' taxes,a�essments,insaraace premiums and ground rents as they faU due.Boirower shall pay to Lender azry amaunt necessary to �.��:�.',_-`�
<br /> ...�� _ . . ;'s�`
<br /> .. matte up the deficienry in one or more payments as Lender maY iequise• T.__�=_
<br /> . . � lTpon payment in fall of all sams secured by this Deed of Tmst,l.ender sbaU pmmptly nefund w Bomower aay Fnnds held try . ___
<br /> Lender.If nnder paragrapb 17 hereaf the Property is sold or the Property is otheiwise acquired by Leuder,I.ender st�all apply,no : ��.V-�-.��
<br /> � . laterthaaimmediatelypriortothesaleofthePropertyoritsaoquisition6yLeuder,a:ryFundsheldbyLenderatthetimeofapplication ,;'. . °�R_
<br /> . , as a credit against the sums seraced iry this Deed of Tmst. '
<br /> � , . ' � 3.ApplicatIoa of Yaymenia Untess applicable law pravides othezwise,aU payments received by Leader m�sd�the Note and -
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<br /> � . paragraphs 1 and 2 hereof shaA be applled by Lender 6rst in payment of amounts payable to Lenderby Borrower under parag�raph , , �. .�r.
<br /> ' � � 2 hereo�then to interest payabie on thc Note,and then to the princip3t of the Note. _ � ;�,�:
<br /> .` .. • 4.PriorMortg�gesaadDeedsafTrast,Chatg�Idens Horrawers�aUperfosmallofBo�roR�er'sobliptionsunderairym�., ':. ,-.`—
<br />' � deedofm�storothersec�ityag�eemenlwithalienwtuchhaspriorityaverllusDeedofTnut,inslndingBarmwer'scovenantstoma7�e " � �:.�y�=
<br /> ' :. payments when due.Borraa�ac shaU gay or cauSe to be paid all taxes.assessmenu and other charSes,fines and impositions aUnbwable ; .''���-
<br /> � to tbe Property which may attain a priority aver iP�is Dced of Tn�sY,and leasehotd payments or grouad rents,if atry. .`'`�""'
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<br /> : S.Hazardlnsaranc�Borrom:rsHallkeepWeimpravementsnawexistingorhereaftererectedonthePropertyinsuredagainst '�: ,:�„�._
<br /> ,' loss by fire,hazards included withln We term"extended coverage;'and such other Uazards as i.ender may require and in sucb . .
<br /> amounts and for such periods as l.endec may mquire. _ �-�-_
<br /> , . � 1'heins�ancerarrierprovidingtheinsuranceshallbechosenbyBonoweTSUbjedtoapprovalbyLender,provided.t�atsuchaPProval ' � '� ' =-
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<br /> , . �' � shall not be unreasonabiy withheld All iaSVrance policies and renewals thercof shall be in a form aeeeptable to Lendeca�d shall inciude �.� „_,: � .,:;:
<br /> � a standard mortgage clanse in favor of and in a form soo�table to Lender.Lender shall havc the right tohold the policies and renewals �:.� ..- _
<br /> , thereu�subjecttothetcrmsofairymort�ge.doedoftrustorothersqanityagreemcntwithalicnwhichha9priorityaverthisDesdof't'�st � .�
<br /> � � In the event of loss,Borrower sha11 g'rve prompt noticc to the insurance carricr and Lender.I.eader may make prooY of loss if
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<br />_ �. � not made promptly by Bdrrower. . .
<br /> If theproperty isabandonedisy Bormwer,or if Boaower failsto respond to Lendcr wittin 30 days fromthe datc natiae is mailed by .
<br /> .. Lender to garmwer that the insurancc cacrier offers to settle a ciaim for insuranee bene5ts.Len�cr is aiuhorized to collect and apply the
<br /> � �. insuranw pr000cds ai Lender's opdon cither to restoration or repair of the Fmperty or to the siun9 socu�ed by tlris Doed of Tnut. . , �
<br /> � . ' 6 PreservadonandMaintenaaceo�Property;l,saseholds;Coadominiams;PlannedUnitDevdopments.Bonowcrstiallkeep
<br /> . . , thc P�,operty in good n�panr and shaU not wmmit waste or pertnit impaitment or deterioration of thc Property and shall o�mply with the �� . �:
<br /> , provisionsofanyleascifthisDcedoITnislisonateaseholdlfihisDerdofTmstisonaunitinawndomimumoraptatu►odunitdevetopmcmt,
<br /> , . . � . . I BorrowcrstiallpcfformaUofBonon�er'sobli�tionsnnderlhcdectaradonorcovenantscreatingosgoveminglheoonQominiun►orplannod - .
<br /> � unit development,the by-laws and regu►ations of the oondominium or plannod unit devetopmen�and constituent documents.
<br /> � � 7.Pmtection olLender's Security.if Borrowcr fails to perform the covcnants and agreements contained in this Oeed ofTrust.
<br /> orifaayactionorpracer.dingiscommenoed�vhichmateriallyait'ectsLender'sinterestintheProperty,lhenLeader,atLender'soption,
<br /> � � upon norice to Borro«�er.may make such appearances,disburse such sums,including reasonable attomeys'fee�,and take such action • � .
<br /> • .� as is necessaay to protcct Lender's interest.lf Lendcr rcquircd martgagc insurance as a condition of ma2cing thc loan sec�ued by this
<br /> ' � Dccd of Trus�Bonmver shall pay ihc prcmiums requircd to maintain such insurancc in effcct unGl such dme as thc rcquiremcnt for
<br /> ' � such insurancc tcrminatcs in accordancc with Bonowcr's and Lcndcr's�vrittcn agrccment or applicablc law. • .
<br /> Any amounts disburscd by Lcnder pursuant to ttus paragraph 7,with intcrest theroon,at thc Notc ratc,shall beoome additianal
<br /> � � � indebtedness of Bano�ver secured by this Deed ofT�ust.Unless Borro�r•cr and Lender agrce to other terms of payment,such amounts .
<br />'_ � shallbepayablcugonnoticcfromLcndcrto�3orrotir•crrcqacstingpaymcmtherwf.Nutl,ingcx,ntaincdinthisparagraph7sh�ilnquirc �
<br /> • � Lcndcr to incur airy expcnsc or takc any acdon hcrcundcr. � • .
<br /> � S.lnspaxtioro.LcndcrmaymakcorcausctobemadercasonablccntriesuponandinspcctiansofthcProperiy.prwidcdthalLendcr .
<br /> � shallgiveBonowernoticepriortoanysuchinspectionsQecifyingrqsonablecausethereforrelatedtoLender'sinterestinlheProyerty. .
<br /> � 9. Coademnation. Thc procccds of a1ry a�vard or claim Cor damagcs. dirccl or conscqucmial, in wnnxtion�vith any
<br />�'� ,' condemnauon or other taking of 1he Property.or part thereof or for conveyance in licu of condemnation,are hereby assigned and
<br /> shaU be paid to Lcndcr,subjcct tothc tcrms of any mortgagc,deed of trust or other sccurity agrcerncnt with a licn�vhi¢h t�as�ority
<br /> � an•cr this Dccd of Tmst. �.D
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