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<br /> °�., � _ �`� (Page 3 of 5) . , :
<br /> � � � �v ' � 9�� �a�� �� :�;�. ��°
<br /> tJnless Lender sud Borrower otherwise agrae in writing,any application of prqc�,,t'Qy pri�ipal shall not extend or .� - ` ���.
<br /> ���•�. _ ,�' ` postpone the due date of the monthly payments refemd to in paragraphs 1 and 2 or change the amouat of the payments. ; ( �: �.
<br /> � If under paragraph 19 the Pcoperty is aoquired by I.ender. Horrower's right to any 'snsurance policies and proceeds ° ` s, �`
<br /> • � ' resulting from damage to the Property prior to tiie acquisition shall pass to Leader'ta the eatent of the sums se�ed by • `
<br /> • - this Security Instrument immediately prior to the acquisition. •' 4`� ,°``�'
<br /> ` • � � 6.Preservation aad 1lqaintensace of Praperty: Leasehoids; Condomiaiums; Planned Unit Developmeats. , ,
<br /> � � Bonowet shall keep the Pmperty in gaod repair.aad sha11 not commit waste or peimit impairmen�or detelioratian of •
<br /> � the Prnperty and shall comply with the provisions of aay tease ii this Deed of Trwt is on s leasehold. If this Deed of ..``" . _ ..
<br /> •-' � `� Trust is on a unit in a condomi�um or a planned unit deveIopment, Borrower shall perform a�� of Borrower s . � ,.�
<br /> _- ----:'•� 1 • .. .. _ ' �.
<br /> obligitions undet the declasation or wvenants creatiag or goveming the cuadominium or planned uzsit development,the `:�_ �� .,
<br /> --� bylaws and regulations of the coadominium or planued unit development,and constituent docurs�ents. �_(,��
<br /> � � 7.Protection of Lender's Security. If Borrower fails to petfosm the coveasnts and agreements contaiaed in this . .
<br /> DeEd of Trust,or if any action or pmceeding is commertced which matarially affects I.e�der's interest in the Progerty, ._ ;.r. ,
<br /> . ,., ,
<br /> � � . . then Lender,at Lender's option.upon notice to BorroWer, may make sucls appearances,disbusse such sums, including � ..;:��=
<br /> � reasos�able attoraeps�fees.and take such action as is n�'9�Protect I.ender's interest.If Leadez required mortgage .. _ -
<br /> , •. , ' � insurance as a condition of making the loaa secured by this Deed of Trust.Harrower shall pay the premiums required to . :<.'_,;�:�:•. ''
<br /> y � . ��
<br /> � ' - snaintain sitch insUrance in effect until sncli time as the tequu�ement for such iasurance termiaates ia aocordaace with ..;,�:�,
<br /> � Borrower's aud Lender's written agre�ment or applicabte law. Aaq amounts diabursed by Lender putsuant to this �: ,� ;`.'.. �;-=.
<br /> ; ._ . paragraph 7, with interest thereon, at the applicable coattact rate. shall become additinnal indebtednes�s of Bonower . °:'
<br /> ' <�'' - se�ured by ttus Dced of Trust. Unle� Horrower and Lender agree to other terms of payment,such a�tounts shall be `;�:�:_,,-
<br /> ' � � payable upoa notice from Lender to Borrower requestin$paYment thereof. Nothiag contained in this paragraph 7 shall .. c_�.���,.:
<br /> � '� � require Lender to incur anp espense or take anq action hereunder. --
<br /> 8.Inspection. Lender may make ar cause to be t►zade reasonable eniries upon and inspections of the Property. . .� : �., —
<br /> ` . � provided that Len�der shall give Borrower notice prior to any such inspectiun specifying reasonable cause therefor related .. i
<br />- . . . to Lender's iaterest in the Property. 'Y •�:. .. '=y :
<br /> ' 9.Coademnation.The proceeds of anp award or claim Yor damages,disect or conse9uential,in connection with aay 'f_ffi_
<br /> . condemnation or other taking of the Propercy.or parc ihereof. or for conveqance in lieu of candemnation, are herebq � ._-�_�_.._
<br /> ' � . assigned and shall be paid to Lender,subject to the terms of any martgage.deed of trust or other securitp agreement ;'•.:�::.T��:,,—•
<br /> . ,.. �, with a lien wluch has prioritp over this Deed of Tn�.st. t T ��_±
<br /> � ' � -' 10. Horro�ser Not Released; Forbearance By Lender Not a Waiver. Batensioa of the rime for pa9ment or . ,� f�,9
<br /> _ . . � modification of amortization of the.suma secured by this Deed o4 Trust granted bq Lender to anq successor in interest .,�' �, :f;_---�
<br /> of Bornower and all other parties who are or hereafter becoine secondarily liable shall not operate to rele.ase. in any . ___-
<br /> � : .:
<br /> manner, the liability of the original Borrower and Borrower's auccessors in interest. Lender sha11 not be required to . -__ _
<br /> �-'�; ..
<br /> � . commence praceedin�s a�inst such successor or refuse to estend time for payment or otherwise madify amortizatian A � .' m-
<br /> ' of the aums secured bq ttus Deed ot Tnut by reason of any demand mada by the original Borrower and Borrower's . '---��
<br /> � successors in interest.Any forbearance by Lender in egercising any right or remedq hereunder,or otherwise afPorded by . .'��_��Zi'.-
<br /> . , applicable law,shall not be a Naiver of or preclude the exercise of any such right or remedy. � '-*�
<br /> �. ��'� � 11.Successors aad Assigns Houn�; Joiat and Severnl Liability; Co-si�r�rs. The covenants and agreements :. -y.y_y
<br /> herein contained shall bind,and the rights hereunder shall inure w.the r�tive successors and assigns of Lender and ��� �' :,';,'r°�___."`.
<br /> f � ,
<br /> Borrovrer.subject to the provisions of paragraph 16 hereof.All covenante and ageements of Borrower shall be joint and . �;t �,--
<br /> � several.Any Borrower who w-sigas ttus Deed of Tn�st,but daes not execute the I�Iote. (a) is co-signing ttus Deed of =-' 7t';�.:_
<br /> ' 'Trust only to grani and convey that Bonower s interest in the Ptoperty to Lender uader the terms of tlus Deed of Trust, ��:-'��-.�:'
<br /> : ;��;
<br /> (b)is not personallq liable on the Note or under this Deed of Trwt,and (c)agees that L.ender and any other Bonower . . . ���-
<br /> � � bereunder may agnee to estend, modify, forbear,or make any other accommodations with tegard to the terms of this • `. ��
<br /> ' Deed of Trust or the Note.witt�out that$onower's consent and without releasing that Bonower or modifying thia Deed ' , , Irt•
<br /> ; � of Trust as to that Borrowe�'s interest in the Property. � � �,'
<br /> .:,�
<br /> • • � 12.Notice. Except.for any notice required undet appticable law to be givea in aaother manner, (a)any notice to -=
<br /> ' � Bonower provided for in this Deed of Trwt shall ba given by delivering it or by mailing such notice by cercified mail . ___
<br /> � . ' � • addressed to Borrower at the Property Addresn or at such other address as Bonower may designate by notice to I.ender , •- �
<br /> as provided herein,and(b)any notice to Lender shall ba given by certified mail to Le�tder's address stated herein or to :
<br /> ' such other addresn as l.ender may desigaate by notice to Hortower as provided hetein.Any notice provided tor in this . • . : .
<br /> � Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. • • .
<br /> � ' 13.Gaverning Law; Severability. The state and local laws of the jurisdiction in which the Ptoperty is lacated shall
<br />-•.�; apply except where such lawa conflict with Pederal law; in which case, Federal law ehall apply. In the event that any ..
<br /> , � provision or clause of this Deed d4 Trust or the Note conilicts with applicable law, such wnflict shall not afte�t other .
<br /> provisions of this Deed of Trust or the Note which can be given effect without the conflicting proviaion,and to this end �
<br /> � the provisions of this Deed of Trust and the Note are declared w be saverable.As used herein."costs." "expenses,"and
<br /> • "attorneys'fees"include all sums to the exteni not prohibited by applicable law or limited herein. . .
<br /> ' � � 14. Borrower s Copy. Honower shall be furnished a conformed copy of the Note and of thia Deed of Trust. ii •
<br /> requested,at the time of execution or after recordation here+of. ' .
<br /> . 15. Rehabilitation Loan Agreement. Borrower shall Pulfill a11 of Bottower's obligations under any home � �-�
<br /> -' rehabilitation. improvement, repair, or other loan agreement which Borrower enters into with I.ender. I,ender. at
<br /> .. • l.enders optiorh may tequire Borrower to execute and deliver to I.ender. in a iorm acceptable to Lender,an assignmer.t • ,
<br /> , of any righte, claims or deYenses which Borrotiver may have against parties who supply labor, materials or services in .
<br /> ' ' connectian with improvements made to the Property. ,
<br /> . ' 16.Transter ot the Property. lf Borrower sells or transfers all or any pazt of the Property or an interest therein,
<br /> excluding (a} the creation of a lien or encumbranee subordinate to this Deed of Trust, (b) a transfer by devise.descent, •
<br /> � � or by operation of law upon the death of a joint tenant.(c� the grant of any leasehold interest of three years or less not .
<br /> � i containing an option to purchase, (d) the creation of a purchase money security interest for househald appliances, (e) a ,
<br /> �� transPer to a relative resuiting from the death of a Borsower, (f)a trans4er�vhere the spouse or children of the$orrower
<br /> � . � become an otivner of the property, (�) a transfer resulting from a decree of dissolution of marriage, legal sepatation .�
<br /> �i ' � agreement, or fr��m an incidental property settlernent agreement, by which the spouse of the Borrower bec�mes an .
<br /> - - - ' . � p0-30•94 Oood of Trost NE OAIGINAL I�I I�Ilm���{����������������'m NE007923 - - - .
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