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<br />89-- 102108
<br />89 --7f'c8
<br />UNIFORM COVENANTS. Borrower and lender covenant and agree as
<br />1. Payment of principal and interest Borrower shall promptly Pay when due the principal of and interest on the
<br />indebted; :ass cvidenced bye the Note. prepayment and late charges as provided in th a Note. and the principal of and interest on
<br />any Future Advances secured by the Deed of Trust
<br />2- Funds for Taxes and Insurance. Subject to applicable law or to a written waivrx by lender, Borrower shall pay to Lender
<br />on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein
<br />"Funds ") equal to one - twelfth of the yearly taxes and assessments which may attain priority over this Deed of Trust, and
<br />ground rents on the Property. it any, plus one - twelfth of yearly premium installments for hazard insurance, plus one - twelfth of
<br />yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by
<br />Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed. by a Federal or state
<br />agenr y (including Lender it Lender is such an institution). Lender shall apply the funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. lender may not charge for so holding and applying the Funds, analyzing said account
<br />or verifying and compiling said assessments and bills, unless Lender pa; s Borrower interest on the Funds and applit able law
<br />permits lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this Deed of Trust
<br />that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicalbe law requires such
<br />interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. !_ender shall give to
<br />Borrower, without charge, shall
<br />annual accounting of the Funds showing credits and debits to the Funds and the purpose for
<br />which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Deed of
<br />Trust.
<br />If the amount of the funds held by Lender, together with the future monthly installments of Funds payable prior to the due
<br />dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes.
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by
<br />Lender shat not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they tall due. Borrower shall
<br />pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is marled by Lender to
<br />Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust Lender shall promptly refund to Borrower any Funds held by
<br />Lender. If under paragraph 18 hereof the Proper;, is sold or the Property is otherwise acquired by Lender, Lender shall apply,
<br />no later than immediately prior to the sale of the vroperty or its acquisition by Lender, and Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Deed of i rust
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Note
<br />ts payable to Lender
<br />and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amoun Borrower under
<br />nd then to interest
<br />paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, a and principal on
<br />any Future Advances.
<br />4. Charges; Liens. Borrowers shall pay all taxes, assessments and other charges, fines and impositions attributable to the
<br />Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payme t, when d e. and in the to
<br />payee thereof. Borrower shall promptly furnish to Lender all notices r amounts due under this
<br />Borrower shall make payment directly, Borrower shall Promptly furnish to Lender preens evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust provided, that Borrower shall not be
<br />required to discharge any ouch lien so long as Borrower shall agree in writing to the payment of the obligation secured by such
<br />lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in, legal
<br />proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Hazard Insurance. Borrower sha!I keep the improvements now existing or hereafter erected on the Property in ured
<br />against loss by fire, hazards included within the terra' extended coverage and such other hazards as Lender may re urre
<br />and in such amounts and for such periods as Lender may require: provided, that Lender shall not require that the amourttof
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Deed of Trust.
<br />This insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender: provided, that
<br />such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner provided
<br />under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, wher cue, directly to the insurance
<br />carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, and
<br />Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the eventof loss. Borrower
<br />shall 9;4e prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the
<br />Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is not
<br />thereby impaired. If such restoration or repair is not economica!iv feasibly or if the security of this Deed of Trust would be
<br />impaired, the insurance proceeds shall be applied to the sums secured by this Deed of Trust, with the excess. if any, paid to
<br />Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date
<br />ileC
<br />notice is n 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 feed of Trust
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or
<br />Postpone the due date of the monthly installments referred to in paragraphs ; and 2 hereof or change the amount of such
<br />instai.ments. If under paragraph 18 hereof the Property is acquired by Lender, all right title and interest of Borrower in and to
<br />any insurance policies and in ,rid to the proceeds thereof resulting from damage to the Property prior to the sale or acquisition
<br />shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or acquisition.
<br />6. Pr: servation and Maintenance of Property; Lesseholds; Condominiums; Planned Unit Developmants. Borrower shall
<br />ko ^r tha °roperty in good repair and shall not comrmt waste or permit impairment of deterioration of the Property and shall
<br />comply with the provisions of any lease if this Deed of Trust is on a leasehold. If this Deed of Trust 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
<br />creating or governing the condominium or planned unit development, the by -laws and regulations of the condominium or
<br />planned unit development and constituent documents. It a condominium or plan, 'ed unit development rider is excuted by
<br />Borrower and recorded together with this Deed of Trust the covenants and agreements of such rider shall be incorporated
<br />into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a part hereof.
<br />7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this Deed of
<br />Trust. or if any action or proceeding is commenced with materially affects Lender's interest in the Property, including but not
<br />limited to, emine� it domain, insolvency, code enforcement, or arrangements or proceedings Involving a bankrupt or decedent,
<br />then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums end take such
<br />action as is nocessyry .o protect Lender's Interest Including, but not limited to, disbursement of reasonable attorney's fees end by
<br />entry upon the Properrty to make repairs. If Lender requlred mortgage Insurance as a condition of making the loan secured he
<br />the Deed of Trust 3orrower shall pay the premiums required to maintain such Insurance in effect until such time as the
<br />requirement for such Insurance terminates In accordance with Borrower's and Lender's written agreement or applicalbe law.
<br />Borrower shall pay the amount of all mortgage Insurance prrmiums In the manner provided under paragraph Z hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment hereof, and shall bear interest from Use
<br />date of disbursement at the rate payable from time to time on outstanding principal ender the Note unless at the of interest
<br />at such rate would be contrary to applicable law, In which event such amounts shall bear Interest at the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to Incur any expense or take any
<br />action hereunder.
<br />S. Inspection. Lender may make or cause to be made reasonable entries upon and Inspections of the Property, provided
<br />that Lender shall give Borrower notice prior to any such Inspection specifying reasonable causetherelore related to Lender's
<br />interest in the Property.
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