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<br /> UNIFORM COVENANTS.8orrower and Lender covenant and agree as f�llows:
<br /> 1. Peym�nt of P�IncIpN and Int�rest,Borrower shall promptly pay when due Ihe principal and Interest indebtedness
<br /> evidenced by the Nate and late charges as provlded In the Note.
<br /> 2. Funtb MrTaxss and Inturance.Subject to applicable law or a written waiverby Lender,Borrower shall pay to Lender
<br /> on the day rrwnthly paymente of prinGpel and interest are payable under the Note,unfil the Note Is paid in full,a sum(herein
<br /> "Funds") equal to one-1weHth of the yearty taxes and assessments (including condaninium and planned unit devebpment
<br />� assessments,if any)wh�h may attain priority over this Deed of Trust,anci ground rents on the Proporty,if any,plus one•tweifth
<br /> d yearty premlum instellmenta for hazard insurance, plus one-tweffth of yearly premium installments for moitgage Insurence,if
<br />' any, all as reasonebly esdmated inftially and irom time to time by Lender on the basis of assessments and bill.s and reasonable
<br /> eatirnates theroof.Borrowe�shall not be obllpated to make such payments of Funds ta Lender to tho oxtent chat Borrowor makos -
<br />� eix�payments to the holder of a prlor mortgage or deed of trust ff such holder f a an Institutlonal lender.
<br /> II Borrower pays Funds to Lender, the Funds shall be held In en inatitution Iha deposlta or accounts of which are
<br /> insured or gusranteed by a Federal or stato agency(including Lender If Lender ia such an Inetitutbn),Lender shall apply
<br /> the funde to pay eAid tax�s,asse�saments,Insurance premluma end ground renta.Lender rmry'nnt cherge for so holding
<br /> end epplylnti the Funde,anelyzinp sAld account or verifying and cornpilinp eaid assessmente and bllls,unless Lender pays
<br /> Borrower Intereat on the Funds ancl eppllceble law parmlta Lender to make such�charge.Borrower end Lender may agrae
<br /> In writinfl at the time ot exe►cutlon of lhls Deed ol Trust that Intarest on the Funds shell be pald to Borrowar,and unless auch
<br /> epr�►ement la made ar applicable law requlres euch Intereat to be paid, Lender shall not be raqulred tu pay Borrower any
<br /> inlentl or earnlnQu on the Funds. Lender ahall flive to Borrower, without charge, an annuol accounting of the Funds
<br /> six�vrkp credks end dsbite to the Funds and the purpose for wh�h each debit to tho Funds wae made.The Funds are
<br /> pleciped as additbnal sscurfty for the eume securad by thle Deed of Trust.
<br /> II the amount of the Funds hald by Lender,together wfth the(uture monthry installments of Funda payabla prbr to the
<br /> due dates of taxea,assessments,insurance premlums and graur►d rents,shall excaed the amount requlrod l�pey saki taxes,
<br /> essessments, Insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's optlon, eNher
<br /> promptly repald to Borrnwer or credited to Borrower on monthly Installments of Funds.If the amount ot the Funda held by
<br /> Lender shall not be suff�fent to pay taxes,assessments,Insurance premlums and ground rents as they fall due,Borrower
<br /> shall pay to Lender any amount necessary to make up the deficlancy in one or more payments as lender may requfre,
<br /> Upon payment In full of ail sums secured by this Deed of Trust,l.ender shaii promptly retund to Borrower any Funds
<br /> held by Lender.If under paragraph 17 hereof the Property Is sold or the Property Is othervvise acqulred by Lender,Lender
<br /> � sh�ll apply,no later than immediately prlor to the sale M the Property or its acquisition by Lender,any Funds held by Lender
<br /> at tYie time of appl�atlon as a credit against the sums secured by this Deed of Trust.
<br /> 3. Appl�atlon of Payments.Unfess applicable law provides otherwise,all payments recelved by Ldnder under the
<br /> Note and paragraphs 1 e�nd 2 hereof shall be applied by Lender first in payment of emounts payable to Lender by Borrowar
<br /> under paragraph 2 hereof,then to int�rest payable on ihe tVOte,and ihen io ine pri�ic;ipai�i the PJote.
<br /> 4, p�ior IlAortyp�s�nd Oseds otTrust;Chargss;Llena.Borrower shall perbrm all of Borrower's obligations under
<br /> eny mortgage, deed of trust or other security agraement with a Ilen which has prbrity over this Deed of Trust, including
<br /> Borrower's�ovenants to make payments when due. Sorrower shall pay or cause tn be paid all taxes, assessments and
<br /> other charges, fines and Impositions attr(butable to the Property which may attain a priorfty ovor this Deed ot Trust,and
<br /> leasehold payments or ground rents,If any,
<br /> 5. Hezerd I�surance. Borrower shall keep the improvements now axisting or hereafter erected on the Property
<br /> insured egainst loss by fire,hazards included withln the term"extended coverage",tlood and such other hazards as Lender
<br /> may requlre and In such amounts and for such periocis as Lender may require.
<br /> The insurance ctirrier provlding the Insurance shall by chosen by Borrower subject to approval by Lender;provided,
<br /> • that such approval shall not be unreasonably withheld, All insurance policies and renewals thereof shall be in a form
<br /> � acceptable to Lender and shall Include a standard mortgage clause in favor of and in s form acceptable to Lender.Lender
<br /> shall have the right to hold the policles and renewals thereof,subJect to the terms of any mortgage,deed ot trust or othAr
<br /> security agreemeM with a Ilen which has prforiry over this Deed of Tnist.
<br /> In the event of loss, Borrower shall give prompt notice to the insurance carrierand Lender.Lender may make proof of
<br /> loss if not made promptiy by Borrower.
<br /> If the Property is abandoned by Borrower,or if Borrower falls to respond to Lender withln 30 days from the dat9 notice
<br /> is malled by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender Is
<br />_ authorized to collect and apply the Insurance proceeds at Lender's optlon eithe�to restoratlon or repalr of the Properry or
<br /> to the sums secured by this C�eed of 1Yust,
<br /> 6, proservatlon and Melntsnence of Propsrly; Leaseholds; Gondominlums; Planned Unit Dsvelopments.
<br />— Borrower shall keep the Property in good repair and shall nof commit waste or perrnit impairment or deterloration of the
<br /> Property and shall compl��with the provEsions of any lease if this Deed of Trust Is on a leasehold.If this Deed of Trust is on
<br /> a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the
<br /> declaration or covenants creating or governin�the condominlum or planned unit development,the by-laws and regulatlons
<br />— • of the condominlum or ptanned unit davelopment,and constltuent documents,
<br /> 7. Protectlon of Lender's Security. If Borrower fails to periorm the covAnants and agreements contained in this
<br /> Deed of Trust,or if any action or Froceeding Is commenced which materlally affects Lender's interest in the Property,then
<br /> Lender, at Lender's optlon, upon notice to Borrower, may make such appearances, disburse such sums, includinfl
<br /> - reasonable attorneys'fees,and take such action as is necessary to protect Lender's interest. If Lender required mortgage
<br />- insurance as a condition of making the loan secvred by this Deed oi Trust. Borrower shall pay the premiums required to
<br />�� ' rnaintain such insurance in eftect untll such time as the requirement for such insurance terminates In accordance with
<br /> � � Borrower's and Lender's written agreement or applicable law.
<br /> � ` Any amounts disbursed by Lender pursuant to thls paragraph 7,with Interesl thereon,at the Note rate,shall become
<br /> �__.� ,.s r.....� i�..�...... o�.�,v;yo.gnrl I anriar anrpa to othe�tE3�ms of
<br />- additional Intlebtedness or e�orrower sE+curau uy iiri5�oo�v� ��..o....�.�.,,,..
<br /> payment, such amounts shall be payable upon notice irom Lender to Borrower requesting payment thereof. Nothing
<br /> containod in this paragraph 7 shall require Lender to incur any expense or take any action hereunder.
<br /> 8. Inspectlon. Lender may meke or cause to be made reasonaWe entries upon and Inspectlons of the F'roperty,
<br /> provided that Lender shall yive Borrower notice prior to any such inspection specifyfng reasonable cause therAfor related
<br /> to Lender's interest In the Property.
<br /> 9. Condemnatlon.The proceeds of any award or claim for damages, director consequential,in connectlon with any
<br /> condemnation or other taking of the Property, or part thereof, or for conveyanco in lieu of condemnation, are hereby
<br /> assigned and shall be paid to Lender,subJect to the terms of any mortgage.deetl of trust or other security agreement with
<br /> a Ilen whlch has priority over thi� Deed of Trust.
<br /> FA6E 2
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