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-7.
<br />UWOW COVENANT& Borrower and Lender covenant and agree as follows: .90—.104842
<br />• T. laynrarN of F 11 PIO 111 and. frrlsnlat 8txrower slhslf PrptiY pay, when due the principal of erhd Interest an the,
<br />indebMdnessevident dbytheNote.Prepa tend latechargesasprovidedin the NoWpndtheprincipalofandintereston
<br />any Future Advances secured by the of Trust
<br />Z FumbilerTagMaawdtnwrsna.Su bapplicable lawortoawritlenwaivarbyLender ,SorrowershallpaytoLender
<br />onthedayrrwnlhlyir oMmentsofandWwastare payable undertheNots, untiltheNotais paid infull .asurnowein .
<br />"Funds") equal 130 one -twNAh of, yearly talus and assessments which may attain priority over this Deed of Trust, and
<br />grorandranlsonlhePropsrty ,Ifanyiplusone- tweiRh otyeartyp romiuminstallmenfsl�orhazand inaurance.plusone- 1weHlhof
<br />prrhrniarm khstalkruerhb for a
<br />irhauranc�s, ht any, all as raonabiy estimated iniWlly and from time to time by
<br />on tthe bears of assaseertenls ar bitb and reasanebte estimates ftreteol `
<br />Titetr'urxisshali beheidin an institirtiontliadepclsits6raccauritsolwhicharelmwredorguaranlaed .bya Federal orstate
<br />agency pneluc ing Lender it Lender is such an institution). Lender shall apply the funds to pay said taxes, assessments, .
<br />iris cepremiumsend ground rents. LendermaYnotchorgeforsoholdin andapplying# mFunds.analyzin�gpspa�idaccount
<br />ern tar bmakeau6hachar�Sraw�erbid unless y� �e_einii -a-'s bm s0IMMFutioonnof sthi Desd�M
<br />ath t inMreet on the Funds shall be paid to Borrower, and unless such agreement is made or epplicalbe law requires such
<br />interest to be pal Lender shall not be required to pay Borrower any intereator earnings on the- Funds. Lender shall givato
<br />Borrower. without chargg!% an annual accounting of the Funds showing qredits and debits to the Funds and the purpose for
<br />which eachdebittotheFundswas made. The Fundsefepledgedasadditional security fortthesumssecured by this 0sed of
<br />Trust
<br />if the mrbant of the funds held by Lender, together with the future monthly installments of Funds payable prior to the due
<br />dales of tares, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes.
<br />assessments. Insurance premiums and ground rents as theyfait due. such excess shall be; at Borrower's option. e3uher
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. if the amount of the Funds held by
<br />Lendershell not be suificientto pay taxes, assessmenta.lnsurance premiums and ground rents asthey fall clue, Borr'owerahail
<br />pay to lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed by Lender to
<br />Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured bythis teed of Trust. Lendershall promptly refundto Borrowerany Fundsheld by
<br />Lender
<br />flunderparagraph IS hereof the PropeVs sold orthe Property lsotherwiseacquired by Lender, Lender shall apiply;
<br />no laterthan Immediately prior tothe safe of the Property or its acquisition uisitionbyL ender, and Funds held by lenderatthetimeof
<br />application as a credit against the sums secured by this Dead of Trust .
<br />3. Application of Paynwta. Unless applicable law provides otherwise, all payments received by Lender under Ste Nob
<br />and paraaggraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under
<br />paraprapli 2 hereof. then to interest payable on the Note, then to the principal of the Note, and then to intevestand principal on
<br />any Future Advances.
<br />4. Cf wqw; Liens. Borrowers shall pay all taxes, assessments and other charges, fines and Impositions attributabtetothe
<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 ent when due, directly to the
<br />payee thereof Borrower shall promptly furnish to Lender all notices of amounts due un er this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts 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 todischargeany such lien so long as Borrowershall agree in writing to the payment oftheobligation secured bysuch
<br />lien Ina 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 shalt keep the improvements now existing or hereafter erectedon the Property insured
<br />against loss by fire. hazards included within the term "extended coverage ", and such other hazards as Lender may require
<br />and in such amountsand for such periods as Lender may require: provided, that Lender shall not require thatthe amountof
<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 subjectto appproval by Lender, provided, that
<br />such approval shall not be unreasonably withheld. All premiums on insurancepolicies shall be aid in the manner provided
<br />under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, 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 moorrttg�aag�ee
<br />clause in favor ofand in form acceptable to lender. Lendershall have the rigghtto hold the policies and renewatsthsreof, and
<br />Borrower shall prom 1lyfurnishtoLenderallrenewalnoticesandallreceiptsofpaidpremiums .Intheeventofloss.Borrower
<br />shall give prompptnotice totheinsurence carrierand L ender. Lender may make proof of loss it not made promptlyby Borrower.
<br />Unless LenderandBorrowerotherwise agree In writing, insurance proceedsahallbe applied to restoration orr pair of the
<br />Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of rust is not
<br />thereby impaired. If such restoration or repair is not economically feasible 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 />notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits. Lender is
<br />authorizedto 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 Dead of Trust
<br />UnIm Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall notextend or
<br />postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such
<br />installments. If under paragraph 18 hereof the Property is acquired by Lender, all right, title and Interest of Borrower in and to
<br />any insurance policiesand inand to the proceedsthereof resultingfrom damagetothe Property priorto thesalsor 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 />4. Preservation and Makitenance of Property; Leaseholds; Condominiums; Planned Unit ts. Borrower shall
<br />keep the Property in good repair and shall not commit 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 &j-laws and regulations of the condominium or
<br />planned unit development, and constituent documents. if a condominium or planned unit development rider is excuted by
<br />Borrower and reCOrded together with this Oaed 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 />�. PraNctton a! Landar'� SstuxNy: if Borrower faits to perform the covenants and agreements contained in this Deed of
<br />Trust, or if any action ar proceeding is commenced with materially affects Lender's interest in the Property, including but not .
<br />timitedto. eminent domain. insolvency. code enforcement, or arrangements or proceedings involving a bankruptor decedent,
<br />E.
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<br />then Lender at lenders option, upon nonce to Borrower, may ma a such appearances, disburse such sums and take such
<br />actionas isnocessaryto protect Lendeesincerest, including, but not limited to, disbursementof reasonableattorney`sfeesand
<br />entry upon the Propertyto make repairs. If Lender required mortgage insurance as a condition of making the loan secured by
<br />the Deed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect until such time as the
<br />requirementfor such insuranceterminatesinaccordance with Borrower 'sand Lender's written agreement orapplicalbelaw.
<br />B!+rrvwer 5111511 pay the amoltnt'at all mortgage MOSumtidd prrmiums Id iha manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this ppareggraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Deed of Trust Unless Crower 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 the
<br />dateof disbursementalthe rate payable from time to time on outstanding principal under the Note unless payment ofinterest
<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 shalt require lender to incur any expense or take any :?
<br />action hereunder.
<br />f. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the PropOrry. provided
<br />that Lendershall give gonower noticeprior to any such inspection specifying reasonable cause therefore related to lender's M
<br />interest in the Property. .
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