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<br />Borrower covenants that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and
<br />convey the Property, and that the Property is unencumbered, except for encumbrances of record. Borrower covenants that
<br />Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to
<br />encumbrances of record.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest
<br />indebtedness evidenced by the Note and late charges and other charges as provided in the Note.
<br />2. Payment of Taxes. Subject to applicable law or a written waiver by Lender, Borrower shall pay taxes and
<br />assessments (including condominium and planned unit development assessments, if any) which may attain priority over this
<br />Deed of Trust, and ground rents on the Property, if any.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by
<br />Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to the principal of the Note.
<br />4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations
<br />under any mortgage, deed of trust or other security agreement with a lien which has priority over this Deed of Trust,
<br />including Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid, prior to delinquency,
<br />all taxes, assessments and other charges, fines and impositions attributable to the Property which may attain a priority over
<br />this Deed of Trust, and leasehold payments or ground rents, if any.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage ", and such other hazards as Lender may
<br />require and in such amounts and for such periods as Lender may require.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender;
<br />provided, that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a
<br />form acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to Lender.
<br />Lender shall have the right to hold the policies and renewals thereof, subject to the terms of any mortgage, deed of trust or
<br />other security agreement with a lien which has priority over this Deed of Trust.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make
<br />proof of loss if not made promptly by Borrower.
<br />If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date
<br />notice is mailed 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 option either to restoration or repair of the Property or to
<br />the sums secured by this Deed of Trust.
<br />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit
<br />Developments. Borrower shall keep the Property in good repair and shall not commit waste or permit impairment or
<br />deterioration of the Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. If this
<br />Deed of Trust is on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's
<br />obligations under the declaration or covenants creating or governing the condominium or planned unit development, the by-
<br />laws and regulations of the condominium or planned unit development, and constituent documents.
<br />7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in
<br />this Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />then 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 mortgage
<br />insurance is a condition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to
<br />maintain such insurance in effect until such time as the requirement for such insurance is terminated in accordance with
<br />Borrower's and Lender's written agreement or applicable law.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall
<br />become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other
<br />terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof.
<br />Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder.
<br />8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property,
<br />provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to
<br />Lender's interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender, subject to the rights of the holder of any mortgage, deed of trust or other security
<br />agreement with a lien which has priority over this Deed of Trust.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Deed of Trust granted by Lender to any successor in interest of
<br />Borrower shall not operate to release, or otherwise affect in any manner, the liability of the original Borrower and
<br />Borrower's successors in interest. Lender shall not be required to commence proceedings against such successor or refuse to
<br />extend time for payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any
<br />demand made by the original Borrower and Borrower's successors in interest. Any forbearance by Lender in exercising any
<br />right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any
<br />such right or remedy.
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