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90-- 106399
<br />3.tS'�7laC
<br />UNIFORM COVENANTS. Borrower and lender covenant and agree as follows:
<br />1. Paynienit of PrktdpM and iat:�aat. Pa-.rower Shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Not* ,preps mentandtatechargesasprovidedintheNote ,andthepnncipalafandi�� :araston -- - - -" any Future Advances secured by the Deed of Trust
<br />2. FundalloorTaxiiiiiiand Ineuraft4lo. Subjecito applicable law of to a wfittenwaiver by Lender, Borrower shall payto Lender
<br />on the day monthly installments of principal andinterestarepayabl eundertheNote. untiltheNoteispaidinfull ,asum(herein :
<br />"Funds ") equal to one of the yearly taxes and assessments which may attain prionN over this Deed of Trust and
<br />ground rents on the property. if any, plus one-twelfth of Yyearly premium installments for hazard insurance, plus one•twetfth o1
<br />yearly premium installments for mortgage Insurance. it any, all as reasOnabty estimated Initially and from time to time by i
<br />Lender on the basis of assessments and bills and reasonale estimates thereof.
<br />The Funds shall behold in an i institution the deposits or accounts of which ore insured or QQuorenteed, by a Federal or state
<br />agency (including Lender if Lender is such an Institution). Lender shall apply the funds iq pay said taxes, assessment%
<br />insuranceprerniumsandaroundrents .Landermaynotchargeforsoholdln and applyirrg.litrtrurtdsunds analyxing
<br />ndotpklablelaw
<br />orva► ifyingandcompiling "seldassessmentsand,bills unlessi. enderpayyv�rroworinterestontiteF�mdssndappllcaM {claw i
<br />permilsLendertomaksauchacha3rgo. f3 Arrowarartd�endarmsyagreeinwritlngattftetimoarax4cuiianaltt�is13r1nctAlTntsr `
<br />thatin terest on the Funds shall be paid to Borrower, and unless such agreement is made Ar a Ilisllxr law re4ulres such
<br />West to be paid, Lender shall not INS roqufred to pay Borrower any interest or oamingqs on the Funds I.artder shall glue ro
<br />Barrowgr, wflitoutcltsr1� e, ert enrtusl accourttinQ.of Me Funds showin credits.and deblt>: tr1 tite Fundaand the purposetor
<br />which sack del�lrro 1heFunds was made. Tlte• Funds are pledged as additional security for tiie sums aacurad bythis 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 />assessmen% insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repald to Borrower or credited to Borrower on monthly installments of Funds. It the amount of the Funds held by
<br />endershal not be sufficienttopaytaxes, assessments. Insurance premiumsand ground rentsasthey fall clue. 8orrowershall
<br />Cy, 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 by this Deed olTrust Lendershall promptly refundto Barrowerany Funds held by
<br />Lender. It under paragraph 18 hereoithe Property is sold orthe Property isotherwise acquired by Lender, Lender shall apply,
<br />no later than immediately prior to the sale of the Property or its acquisition by Witter. and Funds held by Lender atthetime o}
<br />application as a credit against the sums secured by this Deed of Trust
<br />8. Application of PaIrmettta, Unless applicable law provides otherwise, all payments received by Lender under the Note
<br />and paragraphs i and 2 hereof shall be applied by Lender first in payment of amounts payable to lender by Borrower under
<br />paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and principal on
<br />any Future Advances.
<br />4. Charges; Llens. Borrowers shall payalltaxes. assessments and othercharges. fiines and impositions attributabletothe
<br />Property which may attain a priority over this Deed of Trust, and leaseha<d payments or ground rents, if any, in the manner
<br />provided under paragraph 2 heieof or. it not paid in such mariner, by Borrower making payment when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due undez this paragraph, and in the event
<br />Borrower shahl make payment directly, Borrower shall promptly furnish to. Lender receipts evidencing such payments.
<br />Borrower ahatl ppromptly discharge any lien which has priority over this Dead of Trust: provided, that 8orrowGr shall not be
<br />requiredtodischargeanysuch lien so long as Borrowershall agree in writnalothapaymentolthe obligation securedbysuch
<br />lien in a manner acceptable to lender. or shall in good faith contest such berm by. or defend enforcement o1 such lien in, legal
<br />proceedings which operate to prevent the enforcement of the lien or torteirire of the Property or any part thereof.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Prop" 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 amounts andfor such periods es Ler�u'or �i�a ra:,u:.v. prIIJld°..d (h°rtL�^d� =s ghall nnf rw[f�iire t:1at iheamOUnt 01
<br />such coverage exceed that amount of coverage requirejto pay the sums secured by this Deed of Trust
<br />This insurance carrier providing the insurance shall be chosen by Borrower subject toapprovalby Lender, provided.that
<br />such approval shall not be unreasonably withheld. All premiums on insuranre AOliches shall be paid in the manner provided
<br />under paragraph 2 hereof or, it 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 mortgage
<br />clause infavor Oland Inform acceptable to Lender. Lender shall havethe rightto hold the policiesand renewalsthereoff and
<br />Borrower shall pramptlyfurnish to Lender all renewal noticesandalireceiPlsat paid premiums, Intheeventalloss. Borrower
<br />shall give prompt. noticeto the insurance carrier and Lender. Lender Mn inake proof of loss it not madeprOmapftbyBorrower.
<br />Unless Lender and Borrower otherwise agree in writing, insuranre piec eel s shall beapphedtorestoratiemorrepairA fthe
<br />Property damagtt provided such restoration or repair is econamicat'y "feasible and the security of this Deed of i►s;st is not
<br />thereby impaired. If such restoration or repair is not economically feasible or if the security of this Dead of trust wau`.1 be impaired, the insurance proceeds shall be applied to the sums secured by this Deed 6f Trust with the excess, it any, paid to
<br />Borrower. If the Property is abandoned by Borrower. or if Borrower fails to respond to Lender within 30 days from "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 />Unless Lender and Borrower otherwise agree in writing. any such application of proceedsto principal shall not extend or
<br />postpone the due date of the monthly installments referred to in paragraphs i and 2 hereot 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 andto
<br />any insurance policies and in acndtothe proceedsthereot resultinghom damagetathe Property priortothesale or acquisiton
<br />shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or acquisittam
<br />S. Preservaationtand Maintenance of Property; Leaseholds: Condominiaims; Planned Unit Developments. Borrowershall
<br />keep the PrgperLy in good repair and shall not commit waste or permit impwn
<br />aent of deterioration o the he Property and shall
<br />comply with the prognsions of any lease if this Deed of Trustison a leaseho"d. a this Deed of Trust is on a unit ina condominium
<br />Or a panned unit development. Borrower shall perform all of Borrower'$ obligations under the declaration or covenants
<br />creating or governing the condominium or planned unit development tame by -taws and regulations of the condomiltilim. or
<br />planned unit development and constituent documents. li a co.rdam,r.,; dm or planned unit development rider is excutod' by
<br />Borrower and recorded together with this Deed of Trust, the coverants surd ag.reements of such rider shall be incorporated
<br />into and shall amend and supplement the covenants and agreements Jt, rJ;is Deed of Trust as it the rider were a part hereof.
<br />7. ProtecNan oLLender'sSecurity. If Borrower fails to perform thecavenants and agreements contnlned in this Deed of
<br />Trust or if any action or proceeding is commenced with materially, Weal; Lgiuier's interest in the property, including but not
<br />limited to. eminwitdomahn, insolvency. code enforcement; orwTsngniilepj 3 6 proceedings involving a bankruptordecedent
<br />then Lender at Lender's option, upon notice to Borrower, may mahe 6uih a 0pearances..disburse such sums and take such
<br />action as Is necessary to protect Lander''s interest, including, 1�utnol Ilmil6i in, disbursemeirt of reasonable attorney's fees and
<br />entrLupan the Pmpiertyto maji6 repairs. It Lander requiran mo apiliSilminceasa condition ofmakingthe loan secured by
<br />the Deed of Trust;. Borrower shall pay the premiums required o maiWaih. such insurance in effect until such time as the
<br />requirement tor.surh insurance terminates In accordance with Borrower's and Lender's written agreement or applicabbe law.
<br />Borrower shall pay the amount of all mortgage Insurance pennlums in the manner provided under paragraph 2 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 Borrowerand Lender agree to otherterms of payment, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment hereof, and shall bear interest from the
<br />date of disbursement atthe rate payable from time to time an outstanding principal under the Note unless payment OfInterest
<br />at such rate would be contrary to appplicable law. in which event such amounts shall bear interest at the highest rate
<br />permissible
<br />c o hereunder. applicable law. Not hing contained in this paragraph 7 shall require Lender toineur any expense or take any
<br />t. Inspection. Lender may make or cause to be made reasonable ehtrlas upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior to any such inspection spacftlno reasonable causetherefore related to Lender's
<br />interest in the Property.
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