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<br />1 03690
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />t. Faymortt of Friatlpal and Irtloreat. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenoed by the Note, preps ment and late chargesas provided in the Note. and the principal of end intorsst on
<br />any Future Advances secured by the Deed of Trust.
<br />2. FwK%liar Taaso and lowwom e. Subject to applicable law or to a written waiver by lender, Borrower shall pay to Lender
<br />on the day monthly installrrhenls of incipal and lnterastarspsyable under the Note, until iha fVoM Is paid in full a sum (herein
<br />"Funds ") egwl to ons•twolfth of the yearly taxes and assessments which may attain priority aver this Oeec� of Trust. and
<br />yyraeoundrentsontheProperty, itanmyoprlquas�oens- ewNftholyearlypremiuminatallmenbforhazard nsurancs,plusone- twolfthof
<br />Lend�ir or�the basis elf assessments andbilis tied iceaiananbie ssdm � feaNmated Initlaily and tramtime to tints by
<br />The Funds shall behold in an institution the deposits oraccounts of which are insured or guaranteed, by a Federal or state
<br />agency (including Lender if Lender is such an Institution). Lender shall apply the funds to pay said taxes, assessments,
<br />inwnrtt: epremiumsandQroundrents.Lsndsrmaynotcharseforaoholdin andapplying the Funda , analyzing saidaccouni
<br />a veritying and compiling saW apeessrttents and bills, uniessL*rtdsr pays it�wer interest on the Funde and klicable law
<br />pperenmnits Lander to make such a charge. 9orrowarand Lenc>tesrn�ay agree in writing at the modle or time of execution of thisnE)gaued of Trust
<br />lntares o be paid; tender shall not bps rebquir*t! to papax @ar.v
<br />any ttbe ntt or Beat rningss on the Funnd& L law
<br />ender shall give to
<br />Borrower, without c ar0oss an annual accounting of tf►e Pcirds shdw-inngg Credits and debits to the Funds and the purposs for
<br />which each debitto.theFunds was made. The Fureds airetpl)y gad as additional security for the sums isecuredby this Deed of
<br />Trust
<br />H the amount ot.ehe funds held by Lender, together stint, the future monthly installments of Funds payable teor to the due
<br />dabs of taxes, sosessments, insurance premiums and ground rents, shall exceed the amount required to M said taxes,
<br />assessments. in a premiums and roundmnts as they fall duo. such excess shall be, at Borrowers option, either
<br />ppromptly re�idWrower or credited to 13mower on monthly Installments of Funds. If the amount of. the Funds held by
<br />Lendersfhol not besarfticientto pay taxes. assessments. insurance premiums and ground rents as"_ falldt�.Borrowershal
<br />My to Lender any altm.unt necessary to make up the deficiency within 30 days from the date notice is maided•by Lender b
<br />Borrower requesting payment, ttiereof.
<br />Upon payment inhdt ot-all s�trtts secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds held by
<br />Lender. h under paragcapYt ftlllereaf the Property► is sold othehee Property is otherwise acquired by Lender. Lender shall apply
<br />no later than immedieef4� p*ior to the sale of the Property or its acctuisl on by Lender, and Funds held by Lender atthe tints of
<br />spplicatbn ss a credit et�pirtst the sums secured by this Deed of Trust:
<br />3. AppNealbn of Unless applicable taw provides otherwise, all payments received by Lender under the Note
<br />and pe sphs 1 and 2�ahail be applied by Lender. prat in payment of amounts payable to Lender by Borrower under
<br />paragrap�t 2 hereof, then to internal payable on the Note. !fen to the principal of the Note, and then to interest and principal on
<br />any Future Advances.
<br />d. Charges; Llefha. Borroweroshallpaystitaxes, assaaamentsand other charges, fines and Impositions attributabletothe
<br />Property w h may ordain a priority over this Geed of Trust, and leasehold payments or ground. rents, If any, in the manner
<br />provided under paragraph 2 hereof or, it not paid in such manner, by Borrower making payment, when dw, directly to the
<br />pages thereof. Borrower stteli promptly furnish to Lender ail notices of amounts due under this paragraph, and in the went
<br />Borrower shall make payment derectSy. Borrower shall promptly furnish to Lender receipts ovkWncing such pats.
<br />borrower afhall n► v discharoe any lten which has ority over this fkwd of Trout provided: that gorrowar *%p not be
<br />required to dbchargeanyy such lltin so tong as Borrower shall agree In writing to the payment of the obligation secured by such
<br />lien in a manner acceptsDte b lender, of shall in good faith contest such lien by, or defend enforcement of such lien In, legal
<br />proceedkngs which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Hazard lasunnee. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards Included within the term "extended coveraoe ". and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require. provided, that Lender shall not r ulna thatthe amount of
<br />j1h h coverage exceed.that amount of coverage rsqwired to pay the sums secured by this Deed of�rust
<br />his insurance career providing the intturancs shall be chasan by t3orrowet subjectt0 approval by Lender; provided. that
<br />approval shorty not be unreasonably withheld. At1 premiums on insurance policies shall be paid in the manner provided
<br />«paragraph 2 hereof or, if rat paid in such manner, by Borrower making payment, sutler due, directly to the insurance
<br />All insurance policies end renewals thereof shall be inform acceptable to Lender and shall include a standard morlpa�s
<br />clause In favor of and inform acceptable to Lender. Lender shalt 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 event of loss. Borrower
<br />shall giw 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 beapplied to realoratlon or repairof to
<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 economically feasible or it the security of this Deed of Trust would be
<br />impdted, the insurance proceeds shall be applied to the sums secured by this Deed of Trust with the excess, if any, paid to
<br />eixrower. if the Property is abandoned by Borrower, or if. Borrower faits to respond to Lender within 30 days from the dale
<br />notice is mailed by ender to Borrower that ltilee insurance carrier offers to settle a claim for Insurance benefhb, Lender is
<br />autlhorizod to collect and apply the insurance preceeds.at Lender's option either to restoration or repair of the Property or to
<br />the awns secured try this Deed of Trust
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or
<br />pos%xmo the due dab of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such
<br />insiullments. If under paragraph 18 hereof the Property is acquired by Lendmerr,.allll rightst. title and Interest of Borrower in and to
<br />shall do Lennddw do the extent of the s u tsl� of Trust immediately prior to such slats �aw.�qu sitiwon.n
<br />S. Pismo goo and Malliftnance of Propody; Leaseholds: Cando nklikmW Flawned Unit Borrower shall .
<br />keep the Property in good repair and shall not commit waste or permit impairment of deterioration of the Property and shelf
<br />with provisions of any levee if this Deed of Trust is on a Rmsehoid, if this Dent! of Trust is on a unit in acondominium
<br />or a pbrined unit development Borrower shall perform all of Borrowers obligations under the declaration or covenants
<br />cMtinQ or 9overninq tie condominium or planned unit developmesnt the by -laws and regulations of the condominium or
<br />Brs�r►rted unit devoleprtrent and constituent documents. If a condominium or planned unit development rider is excuted by
<br />rower and recorded bgNher with this Deed of Trust. Me covenants and agreements of such rider shall be incorporated
<br />frets and shah anhortd and supplement the covenants and agreements of this Deed of Trust as if the rider were a part hereof.
<br />T. FfeleCttiMh ell Lea/es °a tieewMy. It Borrower fails to perform the covenants and agreements contained in this Deed of
<br />Trust Or it any action� orproeetding is contrrhortced with maMriatty affects lender's interest in the Property, including but not
<br />Irmiltd b, emirhent domakt, insohMncy, code entorcament, or arrangements or proceedings involving a bankrupt or decedent
<br />then lender at Lender's opt3ort. upon notice to Borrower, may make such appearances, disburse such sums and take such
<br />actio nosisr► ecessarybproloctLender' sinterestincl uding, butnotlimitedto, disbursementofreasonableattorney 'steesand
<br />en upon the Propertylo make repairs. If Lender required 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 />requiremonttorsuchkmmancioWminatesinaccordancewithPk xrower 'sandl Lender's written egfe-ernentor9"lleaftlawn.
<br />Borrower shah pay the amount of all mortgage insurance premiums in On manner provided under paragraph 2 hereof.
<br />y amounts disbursed by Leader pursuant to this paragraph 7, with interest thereon. shall become additional
<br />: idMebledness of Sorrower 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 the
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<br />"Is of disbursoment althe rate payable from time to lmw on outstanding principal under the Note unless payment of interest
<br />at such raft would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />owthiiss: u� applicable law Nothing contained in this paragraph 7 shall require Lender to incur anye mpenseor take any
<br />I. irlepetderr. Lender may make or cause to be made reasonable entries upon and inspections of the Propery provided
<br />trot Lander shallgwe Sorrewer notice prior to any such inspection specifying reas=onable Cause therefore related to lender's
<br />:r!!e!�3! :n tilt: prot�rt7
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