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89 103839
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />11. Paywall of PrAnelpal and Inisrast. Borrower shall promptly pay when due the principal of and interest on the
<br />Indeblednessevidenced by the Note, prepsymentand late charges as provided in the Note, and the principal of and intereston
<br />any Future Advances secured by the Dead of Trust.
<br />2. Rinds for Taxes and frltsrrranco. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender
<br />on the day monthly installments of ptlncipal and interest are payable under the Note, until the Note is pats in fulls sum (herein
<br />"Funds ") equal to oas- twelfM of the yearly taxes and assessments which may attain priority over this Des= of Trust, and
<br />ground tent on the Property, it any, plus ens - twelfth of yesrty prsmlum installment for hazard nsurancs, plwone- twelfth of
<br />yesrly prgirtrtum installments form �e insurance, if any, all as reasonably estimated Initially and from time to time by
<br />Lender on the basis of assesamenband trite and reasonable estimates thereof.
<br />The Funds shall be herd in an institution tt+edeposHs oraccounte of which we insured or guaranilasd, by a Federal or state
<br />agency (including Lender if Lender is sucf,, an institution). Lender shall apply the funds to pay acid taxes, aessasnrents,
<br />insurangpremiumsandgroundcb ,!DtA tend+uetlaynotcharose or soholdlnp and apptylrg the Funds, analyzing saidaccount
<br />or verifying and compiling said assessrmentsartd bills, union Lender pays Borrower inWeston the Funds and a Qticablelaw
<br />permits Lender to make such a charge+„ Borrower and Lender may agree In writing at tholme of execution of this Deed of That
<br />that inW" on the Funds shall be paid to Borrower, and unless such agreement is made or aopMcalbe law requires such
<br />Interest to be paid , Lender shall not be required to pay Borrower any inWe4lor earns s on the- Funds. Lender shall give to
<br />Borrower. without chars, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for
<br />which each debit to the Fundswas made. The Funds are pledged as additional Security for the sums secured by this Dead of
<br />Tn ter
<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. Stich excess shall be, at Borrower's option, either
<br />ppromptly rresppaaid to Borrower or credited to Sormwer on monthly installments of Funds. If the amount of the Funds held by
<br />Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due. Borrower shell
<br />pay to Lender any amount necessary to make up the defcieirtcy within 30 days from the date notice is mailed by Lender to
<br />ower requesting payment thereof.
<br />Upon payment infutl *fall sucnssecured by this Deed of Trust, Lender shall promptlyrefund to Borrower any Funds held by
<br />Lender. If under paragraph 18 hereof the Property is sold or the Property isatherwfseacquired by Lender. Lender shall apply.
<br />no later than immadEatgity priorio the sale of the Property or its acquisit+onk by L,entie>, and Funds held by Lenderatthe time of
<br />application as a creditagainstthe sums secured by this Deed of Trust
<br />3• APPMcsMon of Payrnanb. t•4iu ass applicable law provides otherwise; elf paktner s received by Lender under the Note
<br />and parsppraphs 1 and 2 hereof shalt be applied by Lender first In paymerstQf amoc:ntsgayable to Lender by Borrower under
<br />paraag�raph 2 tlereof,then to'irterestllaayable on the Note, then tothe principat of the Note and then to interest end Qrincipal on
<br />any Future Advances .
<br />a. Charges; Liens, Borrowers shall pay all taxes, assessment and othee charges,fines and imposi;tEans attributable to the
<br />Property which may aaain a priority over this Deed of Trust, and leaseholds payr.-tecas or ground rents„ if any, In the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making ppaayment when due, directly to the
<br />.ayee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this naraoraoh; and in fha event
<br />eatxe'owerr analt make payment ch7actly. Borrower shall promptly furnish to Lender receipts "dancing Such pa
<br />Borrower shalt promptly discharge any lien which has priority over this Deed of Trust: provided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shalt agresln writii� to the payment of tM obligation secured b+y such
<br />Non in a manner acceptable to Lender, or shat) in good faith contest such Limn by, or tiaknd enlorcentant of such lien In. legal.
<br />prt,CesdingS w hichl operate to prevent the enfarcertuent of the flan or torterture of title Property or any part thereof.
<br />S. Hazard Insurance: Borrower shall keep the improvement now existing or hereafter erected on the Property insured
<br />against lose by fire, hazards it cluded within the term "extended coverage ",and such other hazards as Lender may require
<br />and in such amounts and for sucfft periods as Lender may require: provided, that lender shall not repuire that the amount of
<br />such coverage exceeds that amount of coverage reqwired to pay the sums. secured by this Deed of Trust
<br />This insurance ca" ,r providing the insurance shall be chosen by Bcorrawrer subject to appproval byy Lender, provided, that
<br />such approval shall rtotbe unreasonably withhaafxt. All premiums on insurance policies shall be id !n the manner provided
<br />uunn� paragraph 2 hereof or, if not paid in such manner, by Borrower Making payment, when due, directly to the =insurance
<br />All Insurance policies and renewals thereof shall be in form acceptable to gender and shall include a standard rt�a�
<br />clause in favor of and in form acceptable to lender. Lender shall have the ngh4tto holdtt* policies and renewals thereof", an`de
<br />Borrower shall promptly furnish to Lender all renewal notices and all recei -M. of paid premiums. In the event of loss. Borrower
<br />shall givaprom t nottce to the insurance carrier and Lender. Lender may make proof of loss it notmade promptly by Borrower.
<br />Unless lender aM Borrower otherwise agree in writing, insurance prad�*ds 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 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 offersto settle a claim for insurance benefits. Lender is
<br />authorized to collect: and apply the insurance proceeds at Lender's oplIon either to restoration or repair of the Property or to
<br />the sums secured by this Deed of Trust
<br />Unless lender and Borrower otherwise agree in writing, arty retch 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 policies and in and to the proceedsthi tothe acquisition
<br />shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or aequ
<br />6. Prsaarvalloa and Maihiarrarrce of properly; Piannod UMI Oster dOpensnl L Borrower shall
<br />keep the Pr in good repair and shall not commit wash or permit impairment of deterioration ofi the Properly and shall
<br />comply with the provisions of any lease if this Deed of Trustis on a leasehold. if this Deed of Trust is on a unit in seondominium
<br />or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration or covenants
<br />erest=nngg or governing the condominium or planned unit development. the by -laws and regulations of the condominium or
<br />planned unit development, and constituent document. If a condominium or planned unit development rider is excused by
<br />Borrower and recorded together with this Deed of Trust, the covenants and a9regiment of such rider shall be Incorporated
<br />into and shall amend and supplement the covenants and agreement of this Deed of Trust as if the rider were a part hereof.
<br />T. ProMctisa of header's lecu ft- It Borrower fails to perform the covenants and agreements contained in this Deed of
<br />Trust. Or it any action or proceeding is commenced with materially affects Lender's interest in the Property, including but not
<br />limited to, eminent 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 and take such
<br />action as IS necessary b prolect lender's interest including, but not l imited to, disbursement of reasonable attorney's lees and
<br />entry upon tttp PropQrty to rrrcka repairs. It Lender required mortgage insurance as a condition of making the loan secured by
<br />lei Deed of Trust, Borrower shall pay the premiums required o maintaip such insurance in effect until. such time as the
<br />rapuiranherht for such insurance terminates rn accordance with Borrower's a nd Lender's written agreement or applicalbe law.
<br />Bonower shall pay rho amOUrrf of all mortgage insurance prrmiums in the manner provided under paragraph 2 hereof.
<br />+� An amounts disbursed by Lender purwant to this pDaragraph 7, with interest thereon, shall become additional
<br />of Horrowat 3etured by this Daad o1 Trust. Untess Borrower and lender agree to other terms of payment, such
<br />amount shalt be payable upon notice from Lender to Borrower requesting payment hereof, and shall bear interest from the
<br />date of d+fbursarnent at Me rate payabra from t+nteto t +ms on outstanding principal under the Note unlesspayment of interest
<br />st Such rib would be contrary to applicable tsw, In wh+eh event such amounts shall bear interest at the highest rate
<br />ac ion heriaundsrepat+Cabtelaw l�othh+ ngcontamedenth+ s paragraph 7 shall require Lenderto incur any expenseor take any
<br />action hereunder
<br />8. IMencli n. Lender may make nr r,tet+!+N to t-e made reasonable entr:e,, upor. and inspections, of tr a Pi upe;riyy. provided
<br />that Lendershali give BorruwernryUc + + prior to any such,nspeorion spec ifymgrimsonaweca use hereforerelatedtoLendor's
<br />,ntrnresl in trio Pr%wrtf
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