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<br /> - � 9�� '.0��� �: `. . . , � ..
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<br /> '� � If Bonower pays Funds to Lender,the Funds shall be held in an institutioa tha dcposits or accounis oP'a�hich are insured E. ,, c� ',_ _
<br /> �� or guaranteed by a federal or stace agency(inciudiag 4xnder if Lxnder is such an insticution}. Lender shall a�pP y�e Funds w 4•� �. ,
<br /> :d
<br /> . '�•4 ound rents. L.ertder may not charge for so holding and a 1 i the Funds, ,
<br /> .. ` pay said rdxes,assessnents.insurance premiums and gr _
<br /> ! analyzing said account or verifyingand compiling s~aid assessments and bills,unless L.ender pays Bonower ipterest on the Fvnds .';-
<br /> and applicable law pemuu Lendet to malce such a charge.Borrawer and 1-ender may agree in wriring at the time of execution � � �
<br /> of this Deed of Tn�st that interest on the Funds shall be paid to Bonower,and uniess such agreement is tnade or applicable law
<br /> ! r�quires such interest to be paid,I.ender shall not be required to pay Bonower any interest or earnings an the Funds. L.endet �
<br /> 1� ; ` .
<br /> shaU give to Bonower, without cherge,an annual accountu►8 uf the Funds showing ctedits and debits to the Funds and die
<br />� � j purpose for which each debit to the Funds W+as made•The Funds are pledged a�add'etional security for►he sums secured bY this
<br /> . ; Deed of Tnut. `
<br /> 1 If the amaunt of the Punds hetd by Lender,together with ihe future moruhlY inst�Lnents of Funds payable prior eo the due
<br /> siates of taxes,assessments.insur'ance premiums and ground rents.shall exceed[he amount required to pay said taxes,assessments,
<br /> . • insurance premiums and graund renu as they Fall dus, such excess st�.11l be,at Bonower's option, either prompQy repaid to __.._____.___—_ _
<br /> Bonower or credited to Borrower on montYily insrallments of Funds. If the amauiu af the Funds held by Lender shall noa be t
<br /> ound rents as the fall due, Borcov�er shall pay co Lender any f .
<br /> ' sufficient to pay taxes,assessments, insurence premiums and gr Y . , • - .- -----.
<br /> � � amount nece�ary to make up the deficiency in one or more payments as Lender may require.
<br /> • � Upon payment in full of all sums secured by this Deed of Tn�st. Lender shall prompdy refund to Borrower any Funds held _ ...- �`':�,•-
<br /> . �� by Lender.If,under Paragraph 17 hereof the Property is sold or the Properry is atheruvise acquired by Lentler,Lender sl�all apply, t •. - '. ,d,�.,-:iY
<br /> '�� � no later than immediatelY Prior w the sale of the Property or its acquisition by l.eader,any Funds held by Lender at the time of t � "'`r���'_`
<br /> ''" application as a credit again.st the sums secured by this Deed of Tnist. " �_�`:5`-�.?
<br /> 3. ApplIcatfoa oY Paqmetst5. L1nIGSS applicable law provides otherwise,all paymcnt�received by Lender under the Note and < <: ,. :_:;�;_
<br /> .. ,_t.,
<br /> " paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable co Lender by Borrower under paragraph '•.�� -.
<br /> 2 hereaf, then w interest payable on tde Piote,and thee►w the principai of the Note. �';���y�'.�
<br /> � 4. Peior Mostg,ages and DeeaTs of TraSt;Charges;LIen4• Bonower shall perform all of Barrower's obligations u n der atry ,,�_�:_.,_-_
<br /> -��.—.
<br /> " mortgage,deed of trust or other securiry agreement with a lien wIuch has a priority over this Deed of Tnut,including Borrower's �:-, ' � ; .:�•___ -
<br /> . -�:.�;
<br /> covenants to make payments when due. Borrower sLail pay or cause to be paid all taxes,asse..arnents, and other charges,fines :,�.`, -
<br /> � �, and uppositions auributable to the Property which may attain a priority over this Deed of Trus[, and leasehold payments or - ,�*�:,-.,
<br /> grouwl rents,if any. -•-- �
<br /> � ���'���~- �
<br /> 5. HazBrd Iasm'ance. Barrower shall keep the impravements now existin�or hereafter erected on the Property insured ,�,.=.-
<br /> �. � e and in ' ;,�-
<br /> � • against loss by fire.hazards included within the term "extended coverage,'and such other hazards as d..ender may requir ,�.
<br /> }..,� ".: ':
<br />'�.,. such amounts and for such periods as Lender may require. %�•,,..
<br />; The insurence cazrier proviAing the inswance sBa11 be chosen by Boaower subject to approval by Lender;provided,that such �+� .� _. :`��
<br /> � approval shall not be unreasonably withheld.All insurance policies and�enewals thereof shall be in a form acceptahle to Lender {
<br /> aud shall include a standard mortgage clause in favor of and in a fortn acceptable w I.ender.Lender shaU have the right to hold - � • 'f� :;
<br />• „ the policies and renewals thereof,subject w the terms of any mortgage,deed of trusc or other securiry agreement with a lien wluch i,_.;,..,.
<br /> has priority over this Deed of Trusc.
<br /> . In the event of lo�v,Borrower shall giv„prompt notice co the insurance carrier and I.e°der. Lender[uay make proof of loss ~ ,` ';;��_�^
<br />._ �•.. '�i
<br /> � if not made prompdy by Borrower. ; : .
<br /> lf the Property is abandoned by Borrower,or if Bonower fails co respond w Lender within 30 days&om the date noi'sce is �;; , : ',
<br /> mailed by Lender to Borrowet that the insurance carrier offers w seWe a claim for insur'ance benefits,Lendet is authorized to .�� .
<br /> � collect and apply the insurance proceeds.at Lender's option,either to restoradon or repair of the Pmperty or w the swns secured �S y;.
<br /> ' by this Deed of Tnist. {r
<br /> � 6. Preservadon and Maintenaace of property;Leaseholds;Condominiums; Paanned Unit Developmenis. Borroa+er shall � �!, ��
<br /> • keep the Property in good repair and sha11 not corrunit waste or pernrit impairment or deteriorarion of the Property and shall
<br /> �'�.
<br /> . comply with the provisions of any lease if this Deed of Ttusc is an a leasehold.If chis Deed of Tntst is on a unit in a condominium ���—
<br /> or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration or covenants creadng '�'y_�.
<br /> �-�i_an-. -:
<br /> � or govezning the condominium or ptanrted unit development. the by-laws and regulations of We condominium or p]anned unit ______
<br /> " development, and cunst[tuen[ documents. =
<br /> 7. Protsetlon of Lendes's Serm�(ty. If Bonower fails to perform the covenante and agreements contained in tbis Deed of ��•
<br /> �. ,;.;;..
<br /> Tnut, or if any action or proceedinS is commenced which materially affects Lender's interest in the Property,then Lender,at _ _
<br /> ' ' l.ender's option, upon notice w Borrower,may make such appeardnces,disburse such sums,including reasonable attomey's fees, ',�_ '�*_
<br /> and take sueh action as is necesca*y w protect l.ender's interest. If Lender required mottgage insurance as a eondition of making ._.�.�:.r�_ ,.�
<br /> the loan secured by tivs Deed of Trust,Borrower ahall pay the premiums required to tnaintain s'uch insurance u►effect unril such __�_
<br /> � time as the requirement for such insuran�e cerminates in accordance with Borrower's and Lender's written agreement or applicable -,�
<br /> law. .� —
<br /> �. qny amounts distrursed by Lender pursuani to this pazagraph T,with inisrest thereon, at the Note rate, shall become _ .
<br /> addiaoml indebtr.dness of Borrower secured by this Deed of Trus�IInless Borrower and Lender agree ta other cerms of payment, ;-�':;�,<i"',�'!".
<br /> such amounts shall be Payable upon nndce from Lender w Borrower reques6ng payment thereof. lYottring contained in this •T�:�,--..�+��.'
<br /> . paragraph 7 shall require Lender to incur any expense or take aay acuon hereunder. '. ' ,.
<br /> ' 8. IaSpeedon. l.ender may make or cause w be made reasonable entries upon and inspecrions of the Property, provided _
<br /> :���; •••_ . .
<br /> � that Lender give Sonower notice prior to any such inspecdon specifying reasonable canse therefor related to Lender's interest .._�_, .�k.. �� -
<br /> ' in the Properiy. N�„����.
<br /> � e�r�r :
<br /> 9. Condemnation. The proceeds of su►y awasd or claim for damages, direct or consequential. in connection with any •
<br /> '' condemnarion or other talcing of the Property,or pan thereof, or for wnveyance in lieu of condemnation, ue hereby assigned ,_,�,._;�.��__
<br /> • . and shall be paid to Ixnder,subject[o the terms of xny mortgage, deed of trust or other secwity agreement with a lien which �
<br /> . has priority over this Deed of Trust. .
<br /> 10. BorrowerNot Refeased;Forbearance By LenderNot a Waiver. Exten.4ion of the [ime for paymenc or modification of ...�:r.;.,•`.•,-•,.
<br /> � amorti7ation of the sums secured by this Deed of Tnut granted by L.ender to any suu:ccsur in interesc of Bonower shal!not
<br /> ' operate to release,in any maru►er, the liabiliry ot[he original Barrower and Borrower's successora in interest. LeMer shaU not
<br /> be teqnired to commence proceedings against such successor or refuse to extend time for payment or otherwise modify
<br /> amorti7ation of the sums secured by this Deed of Trust by reason of any demand made by the original Borrower and Borrower's
<br /> successors in interest.Any forbearance by L.ender in exercising any right or remedy hereunder, or otherwise afforded by applicable
<br /> � law,shall not be a w�eiver of ur preclude the exercise of any such right or remedy. ,
<br /> � I '
<br /> : I �. , . �
<br /> ! N�A.4{A .Sa:ond MortcaCe- I/YO•E=NMMTfIIbRC 11N[FORl4 II'1SIItlJF/IIiVP �'
<br /> -- --=-`� (page 2oi4) �, ^ � .
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