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<br />°�•�',. -�, UMFURM COVENANTS,Barrower and Lendar covenant and agree as follows:
<br />- ,:•�,;. ;' 1, payrn�nt ot Princlpal�nd(nt�nst.Sorrowor shall promptly pay when due the principal and interc�et indebtedness --
<br /> ,.,,q,,,..,,v, evidenced by the Note and late charpea as provided In the Note. --
<br /> � 2. Funds forT�x�s�nd Insunnw.SubJect to appliaablo law or a v�ritten wKiver by Lender,Borrower shall pay to Lender
<br /> - + � on the day monthly payments of principal and Interest are payable under the Note,unlll the Note Is paid in full,a sum(herein
<br />- � "Funds") equal to one•tweNth of the yoarty taxes and asses�ments (Includinfl condomfnlum and plar�ned unit developrnent
<br />-- , , asseeaments,if any)wh�h may att�ln prbrity over this Deed of Trust,end ground rents on the Property, il any,plus one•twel�h _
<br /> � ` ., � �, of yea►1y premlum installments for hazerd Insurance,plus one•twelfth o1 yearly promlum Installments for mortgage insurance,ff _
<br />- . r;, " any,all as reasonably estimated initially and from time to tirne by Lender on the basis ot assessmante and bills and reasonable �-
<br />-,y..•: .. .
<br /> P..�- estlmatea thereof.Borrawer shall not be obligated to make such payments of Funds to Lender to the extent that Borrower makes
<br />���?" such payments to the holder of a prlor mortgage or dee�of trust if such holdar Is an InstituUonal lender.
<br /> — If Borrower pays Funds to Lender, the Funds shall be hold in an Institutian the deposits or accounts of whlch ere
<br /> � -�-� insured or gusranteed hy a Federal or state agency(including Lender if Lender is s�1ch an In9tl�ition).l.ender shall apply
<br /> - .,.,;:uf� the Funds to pay said taxes, assessmsnts, insurance premlums and ground rents.l.ender may not charge for so holding
<br />'=��:� �. . and applying the Funds,analyzing said account or verity(ng and compiling sald asssssments and bills,unless Lender pays
<br /> °.°��" Borrower interest on the Funds and applicable law permits Lender to make such a charge.Borrower and�ender may agree
<br />�'�`��°� ' in writing at the time of executfon of this Deed of Trust that interest on the Funds shall be paid to Borrowor,and unless such
<br />'?��"��`.r"' agreement is made or applicable law requires such interest to be paid,Lender shall not be required to pay Borrower any
<br /> v_;;.._ .:;
<br />_ == ,; ��;:+ ' interest or earnings on the Funds. Lender shall give to Borrower, wfthout charge, an annual eccounting of the Funds
<br /> V��;"�", showing credits and det�its t�the Funds and the purpose for which each deblt to the Funds was made.7he Funds are
<br />-�;�+` "' pledged as additionai security for the sums secured by this Deed of Trust,
<br /> ��`���� � If the amount of 1he Funds held by Lender,together with tho future monthly installments of Funds payaWe prior to the --
<br /> �°,...::s,� .:
<br />�*�_,^ '��t;,, due dates of taxes,assessments,insurance premiums and ground rents,shall exceed the amount required to pay sa taxes,
<br />�•� -.
<br /> ' assessments, insuranco premiums and ground rents as they fall due,such excess shall be, at Borrower's option, e t er
<br /> -' :���.�f promptly repaid to Borrower or credited to Borrower on monthly inetallments of Funds. If the amount of the Funds held by
<br />��''• lY�_�. Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due, Bor�ower
<br /> �'' shall pay to Lender any amount necessary to make up the deficfency ln one or more paymeMs as Lender may require.
<br /> RT.� Upon payment in full of all sums secured by this �eed of TruSt, L.ender shall promptly refund to Borrow�r any Fwxls
<br />_.�:�` .
<br />_,;,;= . held by Lender.If under paragraph 17 hereof the Property Is sold or the Property Is otherwise acquired by Lender,Lendc�r
<br />�`"'}'�'Q shall apply,na later than immediately prior to the sale of the Property or its acqulsition by Lender,any Funds held by Lender
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<br />�.�:+� at the time of appl�ation as a credit against the sums secured by this Deed of Trust.
<br />�:,r.3 3. Appllcetlan of Payments.Unless applicable law provides othorwise,all payments received by Lender under lhe
<br />==T;��;�,�''+� Note and paragraphs 1 antl 2 hereoi snaii oe appiied by Lender iirst ii�pay���er�i of arrou�ts paya�l�tc Ls^�sr b;9orf�?s
<br /> s'��'��7 under paragraph 2 hereof,then to interest payable on the Note, and then to the principal of the Note.
<br /> 4. Prlor Mortga9es and Deeds of Trust;ChArgea;Llens.Florrower shall periorm all of Borrower's obligatlons under
<br /> a
<br />�''x�'�� any mortgage, deed of trust or other security agreement with a Ilen which has priority over this Deed of Trust, (ncluding
<br /> �:,;,:,��Ly_� Borrower's covenants to m�xke payments when due. Borrower shall pay or cause to be paid all taxes, assessments and
<br />-------�----- other charges,fines and impos(tions attributable to the Property which may attain a priority over this Deed of Trust,and
<br /> —_--- leasehold payments or ground rents, if any.
<br /> °== 5. liazeird In�suraoca. Borrower shall keep the improvements now existing or hereafter orected on the Property
<br /> �°t"�� insured against loss by fire,hazards included within the tarm"extended covorage",flood and such other hazards as Lender
<br />���� may requlre and In such amounts and tor such periods as Lender may require.
<br /> —_____---�— The insurance carrior providing the insurance shall by chosen by Borrower subject to approval by Lender,provided,
<br /> � that such approval shall not be unreasonr�bly withheld. All insurance policies and renewals thereof shall he In a krm
<br />�v�=��''�� acceptable to Lender and shall include a standard mortgage clause in favor of and in a form accepteble to Lender,Lender
<br /> �"=z shall have the right to hold the policfes and renewals thereof,subJect ro the terms of any mortgage,deed of trust or olher
<br /> - __`-=='�"'- security agreement with a lien which has priority aver this Deed of Trust.
<br />�-,��;,� In the event of loss,Borrower shall give prompt notice to the Insuranco carrier and Lender.Lender may make proof of
<br />-�;,;;�'�,,, loss if not made promptly by Borrower.
<br /> _-:�� If the Properry is abandoned by Borrowor, or if Borrower fails to respond to Lender within 30 days from the date notice
<br />"'��-_--�-=-�-'�� is malled by Lender to Borrower that the insurance carrier offers to settte a claim for insurar�ce benefits, Lender is
<br /> ,.,�:-y_,��;�
<br /> authorized to collect end apply tho fnsurance proceeds at Lencier's option either to restoration or repair ot the roperty or
<br />_�,;;"�,;,�� +o the sums secured by this Deed of Trust.
<br /> =_�:'•""' 6. Preservetlon and Maintenance of Property; Leaseholds; Condominluma; Planned Unft Developments.
<br />-,''y'�"'""�' Borrower shall keep the Property in good repair and shall not commit waste or permit impafrment or deteriaratlon of the
<br />_�i rti..�.'i.v� e
<br /> - - ,,,.,.�. , Properry and shall comply with the provisions of any lease if thfs Deed of Trust is on a leasehold.If this Qeed of Trust s on
<br />-;� . a unit fn a condominium or a planned unit development, Borrower shall perform all oi Borrowe�'s obligations under the
<br /> y, � - declaration or covonants creating or c�overning the condominium or planned unit development,the by-laws and regulations
<br />`�.- � of the condominium or planned unit development,and constituent documents,
<br /> . 7. Protectlon of Lender's Security.If Borrower falls to perform the covenants and agreements contained in this
<br /> , ' Deed of Trust,or if any action or proceeding is commenced which materially affects Lender's interest in the Property,then
<br /> Lender, at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums, including
<br /> .. .�, reasonable attorneys'fees,and take such action as is necessary to protect Lender's interest. If Lender required mnrtgage
<br /> _ ? insurance as a condition of making tho loan secured by this Deed of Trust, Eorrowor shall pay the premlums required to
<br /> r maintain such insurance in effect until such time as the requirement for such insuran�e termir.ates in accordance with
<br /> ,�.. " ' Borrowers and Lender's�vritten agreement or applicablo law.
<br /> _ �:_�_.__.,�....�.....�.,..,,,.o���.,,►„�h���,a.anranh 7.with interest thereon.at the Note rate,shall become
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<br /> additional indebtedness of Borrower secured by this Deed of Trust.Unless Eiorrower and Lendar agrse to other terms oi
<br /> payment, such amour�ts shall be payable upon notice lrom Lender to E3orrower requesting payment thereof. Nothing
<br /> containc3d in this paragraph 7 shall require Lender to incur any expense or take any action hereurder.
<br />; 8. Inspectlon.Lender may make or cause to be made reasonable entries upon and inspections of the Property,
<br />• provided that Lender shail give Borrower notice prior to any such inspection specifying reasonabte cause theretor related
<br />: to Lender's interQSt in the Properiy.
<br />- 9, Condemnetion.The proceeds of any avrard or claim for damages,direct or consequential,in connection with any
<br />- condemnation or vther taking oi the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby
<br /> assigred and shall be paid to Lendor,subject to the terms of any mortgage,deed of trust or other s�curity agreemenl with
<br />� a lien which has priority over this Deed of Trust.
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