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<br /> � TWILA d+$ SBAMAN RAYMOND K SSAMAN 9�4 ��frs�l�aD 217.904 03/25/1997 ,� , `� :.� , '- ` y�
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<br /> � UNIFORM COVENAN'i'S. Bornower and Lender cov�aant and agre�as fc�ilows: . .� �, . � ,�:
<br /> i. Payment of Pcfarlp�l aad InteresE. Borrower shall pmmptly pay w6en due the priucipal and iBterest
<br /> � indebteduess evidenced by the Note and late charges as pmvided in the Note. � ! f . _�'
<br /> 2.Funds for Taxes and Ia�urance. Subject ta applicable law or a wriuen waiver by Lender.Borrower shall pay co !�
<br /> •� Lender on the day montWy payatenu of prinsipal and interest are payable unJer the Note, until the Note is paid in fuU,a , • _
<br /> svm(herein `Funds')eyual to one-twelfth of thr yearly taxes and assessments(uuluding condominium and plarmed unit ,
<br /> development����+�nts, if any)which may attain priority over this Deed of Trust,and grou�d rents on the Property, if ,, `
<br /> any.plus one-twelfth of yearly premium insrallmenu for hazard in��*anse.plu one-twelfth of yeatly premium incrallmenrc : • '-'`-.°
<br /> far mortgage insuiance, if any, all as reasouably esdmated inidally and frnm dme co dme by l.ender on the basis af � " . . .� �
<br /> assessments and biils and reasanable estimates ttterec}f. Borrowtr shall not b:abligated to make such paymenis of Funds � • .
<br /> [o Len�er to the extent tbai Borrower makes such paymenis to the holder of a ariur mnrtgage or de�d of uust if such holder � ' "
<br /> �
<br /> is an insdtutiona!lender. : - - -- _�-
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<br /> If Borrower pays Funds to Lender, the Funds sball be held in an instiudon the deposits or ac:counts of wluch are ` �
<br /> � iasured�r guaranteed by a Federal ar state agency(including Lender if Ler.der is such an insticution). Lender sbatl apply � , .,
<br /> , ! the Funds to pay said taaes.assessments.ins�uance pmmiums and graund rencs. I.entter may noa charge for so holding and j . � - . ..
<br /> � 1 ' [he Funds. anaI am said account or veri and co ili said assessments and bi1Ls. uniess I.eu�er a s -.:`�:.�---- �
<br /> aPP Y�S Y � 8 �� �F IIS P Y . .
<br /> Borrower interest on the Funds and a�plicable!aw pemucs Lender to make su,:h a charge.Borrower and I.ender may agree ; � .:�,��f ,;
<br /> in writing at the dm�of execution of this Deed of Trust that inteiest on the Funds shall be paid to Borrower.and unless • . -
<br /> such a�ree�ent is made or applicable law requiues sach uuerest to be paid, I.ender shall uot be required to pay Borrower '' � � • �
<br /> an interest or ear�ain s on the Funds. Ixaiier shall ve to Baaower,withoiu cLar e,an annual accounrin of the Funds ' � ,�`'"•
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<br /> showing credits and debits to the Funds and the purpose for wluch each dabic t [he Funds was made. The Funds are �``•". •- •
<br /> pledged as addidonal security for the sums secured by this Deed of Tnrst. `
<br /> If t6e amount of the Funds held by Leader,together with the future uumthly�n a�i�?�of Funds payable prior to . ..-
<br /> [he due daces of caxes.assessments. i�c�*anse premiums and ground rents. �hall exceed the amount required to pay said � ., r^" — �
<br /> taxes, assessments, insu:ance premiums and ground renrs as they fall due. such excess shall be, at B�rrower's oprion, ���
<br /> either pm�pdy repaid to Borrower or credited ta Borro�ver on tno�hly instaliments of Funds. If the amount of the Funds . �" r��'
<br /> - hetd by Lender shaU not be sufficient to pay taxes. assessments. in5vrance premiums and gronnd rents as they faU due. � ' �-
<br /> . Borrower shall pay to L�ender any amount necessary to make up the deficieuy in one or more payments as Lender may . , -
<br /> • ' require. n � �,'°°
<br /> � , U p o n p a y m e n t i n f u l l o f a l l s u m s s e c u r e d b y t h i s D e e d o f T n u t,L e n d e r,-h a ll p m m p d y r e f u n d t o B o r r o w e r a n y F u n d s . � ,:� ' . —�
<br /> � held by Lender.If under paragiaph 17 hereof the Pcaperty is sold or t6e Property is othetwise acquired by I.eader. Lender , -� '�"
<br /> ap
<br /> , sh2U apply, no lacer than immedintely prior to the sale of the Property or its acquisidon by Lender, any Funds held by . ' ` ' _
<br /> Lender at the time of application as a credit against We swns secured by this Deed of Tn�st. ' ��.
<br /> ' . 3.Application of Payments. Unless appGcable law provides otheiwist.aU payments received by L.entler under the . y ;i '`�:�- :
<br /> F
<br /> Note and parag�aphs 1 and 2 hereof shall be agplied by L.ender first in paymeut of amounts payable to Lender by Borrower - .";'�;� _ -
<br /> under paragcaph 2 hereof,then co interes[payable un the Note,and then to the principal of the Note. { r .;�. °2°
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<br /> 4. Ptior R4ortgages aud Deeds of Tn�st; Charges; D�ens. Borrower s6all perform all of Borrower's obligations �:''� - �
<br /> undec any mortgage, deed of trust or other sec�uity agreement with a lien wluch has priority over this Deed of Tcust, ' � � `
<br /> �� i�tuding Borrower's covemants to make payments when due. Barrower shall pay or cause to be paid all taxes.assessments :�!; `
<br /> . .y ��---,:-.
<br /> and other ciiarges. Snes and imposidons attriburabie co the Propemy which n�ay attain a priority over this Deed of Tnut, - °: �::. _�.
<br /> and leasehold paymems or gmvnd renrs.if any. '��
<br /> 5. H�rd Iasoranee. Bo:rower sball keep ttte imQrovemenu now e:cisdng or hereafter erected on the Property ��-'�-
<br /> ;'�' ,—,.r:��-
<br /> iasured agaiast loss by fue.haiards included within the term"extended coverage".and suth other ha7ards as L,ender u�y :; .` �_.1
<br /> require and in such amounrs and for such periods as l.ender may reqwre. -
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<br /> The insurance carrFer providing the��,*��::shall be chosen by Borrov,er subject to approval by Len+der:provided. _ : �'� _ _
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<br /> that such approval ahall not be unreasonably withheld. All insarance polic�es and reaewals thereof shaU �e in a foim - .. .- -. .�._
<br /> acceprable to Lender and shall i�lude a standard mongage clause in favor of and in a form acceptable to Lender. Lender • - , '� -•���"
<br /> j suaU bave the ri t w hold che policies and renewals thereof, sub'ecc to ihe tarms of an mon � '�• �h -
<br /> , aU gh � y gage,deed of uust or other . �
<br /> ,{ . ..��
<br /> sectuity agreement with a lien which h�s priority mer this Deed of Trust. -�• ` ''
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<br /> � In the event of loss.Borrower sbaU give prompt notice ta the imvrance carrier and Ixndc�s. Lender may make proof ,;..:-�;;� T:•�'�
<br /> .� of loss if not made prompdy by Borroa�ea. . . --
<br /> If the Property is abandoned by Borrower,or if Bonower fails to resp��nd ro Lender witLia 30 days from the date � ,`���a`�^�`��
<br /> '. . norice is mailed by Lender co Borrower that the ins�rance carrier offers to seale a daim for;n�,*a�bene8ts.Lender is . �. " � .-.,'� �
<br /> � authorized to collect and I the insurance raceeds at Lender's o tion either[o restoration or air of the Pro or �'`-�`±�' °
<br /> aPP Y P P reP IP�rtY 1E�ra�r.',y�•� ,.
<br /> • , w the swns secured by this Deed of Trust. . .' . .•
<br /> 6. Presservation and Malntena�coe of Property; Leaseholds; Condumiat�m�.s; Pfanned Unit Developments. . " . _
<br /> - Borrower s6a11 keep the Propeny in good repair and shall not commit waste��r permit impairment or deterioration of We . , '
<br /> � Property and shall comply with the provisions of any lease if this Deed of Tn�st is on a leasehold. If this Deed of Ttust is • —
<br /> on a unit in a condomini�or a pla�ed unit develm��ent.Boaower shall perform all of Boaower's obligations under[he —
<br />� . decluation or covenants creating or gmeming the coadominium or planned nnit developmeut,ttne by-laws and regulations � � �
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<br /> of the condom9nium or plaaned unit deve;opment,and consdtuent dacwnents. . . • -
<br /> 7. Pr+utection of I.endee's Sec�uitp. lf Borrower fails to perform the covenanu and agreements contained in tlais . . � • '
<br /> Deed of Tn�st,or if a�+acdon ar proceed'ang is com�eIICed which materially.iffecrs Lender's interest in the Property.then � . —
<br /> � Lender. at LenGer's opco�, upon nadce to Boaower. may make such apgeaaanses. disbuzse such sums, iacluding • � . -=y
<br /> reasonable attomeys' fees, and take such acdon as is necessary to pmtect Lender's interesc. If Lender tequired mottgage �
<br /> ins�*A�as a wndidon of making the loaa secwed by this Deed of Tnut. 13orrower shall pay the premiums requirod to , i,�
<br /> ' � maintain such iasarance in effect until such time as the requirement for s4ch insurance terminates in accordance with
<br /> ' a Borrower's and Lender's vrritten agreement or applicable law. • �
<br /> ! Any amounts disbuised by Lender pursuant to tl�is para�aph 7, with imerest thereon,at the Note rate,shall become
<br />. j addidonal indebtedness of Borrower secum�by this Deed of Tnut. Unless Bonower and Lender agree to other cerms of ' { —
<br /> payment, such amounts shall be payable upon notice from l.ender to Borrower requesting payment thereof. Nothing � , .
<br /> 1 contained in this paragraQh 7 shall require I.encler to incur any expense or take any action hereunder. . : —
<br /> �� S. Inspection. LeBrler may make or cause to be made reasonable emries upon and inspections of the Property. . I � �i-
<br /> � � provided tl�at Lender shal!give Borrower notice prior to any such inspecaon specifying reasoffible puse therefar related to � - �
<br /> Lender's in[erest in the Property. ; . � : ._ �
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<br /> Nenraat�e 2687t�3 11/96 Origiaal(Recordea) Copy(Braaeh) Cepy(Cuatomer) Page 2 ofs � . � .. �
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