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<br /> � ELIZABHTf� M PSYT0.1 FCSPII�TSTH C PSYTON �"�,� �,��6�� 100727 03/ / • � ,. _
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<br /> ' L3rttFORM CovEVa�rrrs. Borrower and Leuder cove�anc and agree as follo�vs: ` �
<br /> � 1. Fayun�nt of Pritndpal and Immterc�. Bormwer shall pmmpdy pay when due che priac3pal and interest , ' . '_
<br /> . indebtedu�ss evidenced by the Note and late cLarges as provided in the Aiote. -
<br /> � Z. Ftimds for Taxes and Yas�ce. Subject to applicable law oz a written waiver by Lender, Bonower sball pay tn . ,
<br /> Lender on the day monthly payments of principa!and intexest are payable under the Note,until the No[e is paid in full,a . , ° . . -
<br /> sum(herein 'Funds°)t4na1 to on�-twelfth of the yearly taxes and assessmenu(including covdominium and plaAned unit � � . .'��
<br /> development asse..csments. if any)wtuch may attain priority over�his Deed of Tc�st.and grouucl rents on the Property. if �. . .. -
<br /> ` ' any.plus ane-twelf�h of yearly premium in�-tallmsnts for ha�id insu�anze.plus ons-t�velfth of yearly premium iastall�n�q ' . . ' .,__.
<br /> '� for tnortgage insarente. if aay. all as reasonably estimated iniaaUy and from time to rime by Ltuder on ths b�.sis of ( —
<br /> ; assessm�nrs aud bills and reasonable esdmates thereof. Borrower shall not tse obligate�to make such paymenrs of Funds �; ' ,
<br />- ' to Lender w the extent that Borrower matses such paymenis to the�lder of a prior mortgage or deed of tnuc if suc6 holder __ ___ _
<br /> I is an institudonal lender. � • �
<br /> If Bo¢mwer pays Funds to Lender. the Fun�s s6all be held in an insdtution the deposits or accounts of which are � . • . -
<br /> insured or guatanteed by a Fedetal or srate agency(intludin8 Leader if I.ender is sush an institutiQn). Lender shall apply . . -.,-�. —
<br /> rhe Funds so v said taxes.assessm.nts.ins�rance premiim�s and ground renss.Leader may not charge for so holding and .:..�;: „..
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<br /> aPP1Ying tbe Fuads. analyzing said accounc ar veiifying and compiling said and tiilts. unless L.ender pay� �.-�_ .
<br /> Bo:rower intemst oa the Fnnds an3 applicable law g�eraii�Lender to make snc�a charge.Hoaoarer and I.ender may agree ,��"�"•`-
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<br /> � in wriring at the tinae of ex�ation of this Deed of Trus[that inie�est on the Fuads shall be paid to Boaower.and unless �ry+^!aer�..�
<br /> svch agreement is made or agplicable law reqaims such interest to be paid. Lender shall not be required to pay Bonower '`��;�':, -.
<br /> any interest or earmings on the Funds. I.ender shall give w Borrower,without charge.an aanual aceaunting of the Funds < :`�''�+�
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<br /> showing credits and deUits to ahe Funds and the purpose for which each debit w the Fwrds was made. The Funds are : �, .�",°" -�=-
<br /> . pledged as additional security for the sums secured by this Deed of Tmst. � ` ,:`." :,�--,-_;-
<br /> If the amnunt of the Funds held by Lender.together with tht future monthly iastallments of Funds payable prior to � . '�>'.-�
<br /> '� the due dates of taxes. assessments. insiaance premiums and grouad rents. sball exceed the amonnt�quired to paY said �•
<br /> taxes. assescm�±±+�, iasurdnce premiums and grouud ceats as they fall dae. such eacess sha31 be. at Baaower's oprion. � L,�_�.3`:,r-
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<br /> J either pmmpdy repaid to Bormwer or cYedit�to Honower om m�nsWy installsnenrs of Funds. If the amonnt of the Fands
<br /> � hetd by I.ender shall not be sufficient to pay taxes.assessments. inswance Pzeminms and ground rents as they fall due. f �. .'._��y- ---
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<br /> �:� Horrower shall pay to Lender aay amount�cessaTY to make up the de8ciency in one or more paymeats as I,ender may ,...,f:- F°` :
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<br /> : Upon payment in full of all sums secured by dris Deed of Tcast.Lender shall pmmpdy refund to Borrower any Funds `;*;�,� i-.�•
<br /> .� held by Lender.If under paraSraPh 17 hereof the Prapemy is sold or the Property is otheiarise acquired by I.ender.I.endet : -- .,�{', �
<br /> shall appiy, no later t6an immediately prior w the sale of the Property or iu acquisition by Lender,any Funds h21d by � �� �-
<br /> -.-t•, ; =�•
<br /> ' Lender at the time of application as a credit against the su�ms secured bY this Deed of Tmst. �.::,,-�� ' "=
<br /> 3.App9lcailon of Pay��.ts. Unless applicable law pmvides othetwise.a11 payments t�eceived by I.ender under the ,:.'�•k;� • _,;; � �'—
<br /> Note and patagraphs 1 and 2 tIIereof shall be agplied by L.ender fitst in payment of amounss pa y a b le to I.e n d e r by Boirower . .`�•:; ;�} '; _
<br /> under pacagiaph 2 hereof.then to interest payable on the Note.and then to the principal of the Note. '�'���` ;.� _
<br /> 4. Prior I�iortgages sud Dceds oR�t; Charges;I1e�- Boaower shall perfom►a11 of Boccower's obligations ,:�,,�. � �.� �;
<br /> : under any mortgage. deed of tr�st or od�er saauiry agreement witt►a liea which has prtflrity over Wis Deed of Tnut. :' '�:' —
<br /> intluding Boaower's covenants to make payments when due.Borrower shall pay or cause to be paid all�axes.assessments ..°i�`'''�. - . `�. '',
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<br /> and other cbarges. fines and imposidons ataibntable w the Propesty wl�ich may attain a priority over this Deed af Tn�st. � . .s�,.. ��
<br /> � •.: . r i,�,�,�:
<br /> and leasehold payments or gronnd rents.if any. ��'
<br /> S. Ha�sd Ia�tuaace. Borrower shall keep the improvements now existing or hereafter erected oa the Property ,'.."�r; -:
<br /> . insuied against loss by�'ue,tiaza�rds included within the term"exteuded coverage".and such other ha�ards as Lender may �r ,Y. ;r lJ '� "-
<br /> e�y�re and in such amonnu and for such pedods as Lender may require. '��'�' . .
<br /> sab'ect to mval b Lender:p m v ided, .;�,.�����~�?^.
<br /> The ias�uance cauier provlding the insuiance shall be chosen by Bonower 1 aPP Y ,_, - __ -
<br /> . tbat sach approval shall not be anre�asonubly withheld. All +nc��+�pnticies and renewals thereof shall be in a foim : ---
<br /> acceptabte to E�nder and sLall include a stsndard mortgage cL�use in favor of and in a form accepra'ble w I.ender. Lender .,:�r. '"�'�
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<br /> stiall have che�eght w hold the poHcies ar�renewals thereof.subjea to the terms of any mortgag�.deed of uusa or othet -•-.: --
<br /> security agir�nt with a lien wLich has priority over this Deed of Tnist. ' ���� ��:' -____
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<br /> In the event of loss.B�zrower shall give prompi notice to the insurance caraer and Lender. L.ender may�e prouf �•; �
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<br /> of loss if noi made pmmptiy by Borrower. �
<br /> If the P��erty is abandoned by Borrower. or if Hoaower fails cm respond to Leader within 30 days from the date , , , ,';'"`�'-° �'=
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<br /> noace is mai�by Lender to Bonower that the insurance carriei o�fz�s to settle a claim for insun�nce benefits. Lender is _ • � .:�.,_•
<br /> 1uth�rizCd to cAllec.L al�d 3�1y fhe;n�*�+u'"proceeds at Lender's opdon either to restoiation or repair of the Property or .
<br /> to the svms secured by this Deed of Trust. � �
<br /> 6. Preservatlon and Malntenance of Pro�tyi ��ldq: Condaminlumn3 Ptanned UNt Dtvel��ments. �. � '. �
<br /> Borrower sha9!keep the Pmperty in good repair and sha11 not comaa�waste or permit impai�ce-�,s or deteiio�tion of the
<br /> ;� !i pmpeny and s�all comply witL the provisionv of any lease if this D�of Tmst is on a leasehold. If thi�s Deed of Tnut is • . . . '
<br /> on a nnit in a condominiu�or a plamned unit development,Burrower s�all perfomi a!1 of Borrower's obl�gadons under the .
<br /> , ; declaration or covenants c�tin8 or goveming the wndominium or plarmed unit d.welopment.the by-laws and r�gulations . �;,
<br /> of the condominium or planned unit developmens.aa�constituent documents. • • .
<br /> ' 7. Prutestion of Lander's Sec�tty. If Hoaower fails to perfo:m the covenants and agreements contained in this � -
<br /> Deed of Tn�st,or if any actioa or pmceediug is commcnced which materially affects Lender's iuterest in the Property.then • . �
<br /> Lender. at Lender's opdon. upon notice to Borrower. may make such appeatances, disbuise such sums. including . . �
<br /> reasonable attomeys' fees.and take such acaon as is necessary to pratect Leader's interest. lf Lender reqs�aa� mortgage �:-
<br /> insurance as a condidon of making the loan secured by this Deed of Tn�st.Barrower shall pay ttte premiu�s requiretl to � • �:
<br /> maint�in sach insurance in effe�t undl such time as tbe requirement for such ins�ance teraa�ates in accordance w�tb
<br /> Borrower's and Lender's written agreemenc or applicable law. .. �__
<br /> Any amounts disbursed by Lender pursuant to this paragraph 7.vrith iuterest thereon, at the Note rdte.shall become � •• ...
<br /> addiuonal indebtedaess of Borrower secut�ed by Wis Deed of Trust. Unless Bonower aad Lender agree to other terms of . —
<br /> ' pay�.n:, such am.aunss shall t� payable �on nndce from Lender to Sorrower requesting payment thereof. Nothing ---_
<br /> � contained in this paragraph 7 shall require Lender to incur any expense or take any action 6ereunder. .
<br /> ? 8, leup�tton. L.ender may make or r.ause ro be rnade reasonable enuies upon and inspections of the Propetty. �. � � • '
<br /> � provided that Lender shall give Borrowec notice prior to any such insQecdon specifying reasonable cause therefor related to � �. � —
<br /> , Lender's interest in the Properry. � _---
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<br /> � � Neerasta 26s�6-3 1 t�vb Original(Reaorded) Copy(Braach) Copy(Cuetomer) pege a of s � �°_.
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