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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows- • 89--. 104997
<br />I. indebteeddnee3sevidbnnceddythe m4,gr ymentsndlatacharg spsprovided ntheNoteandth principaiofandinteres on
<br />any Future A&vanm recur. d bV the Qr,- o: Truce
<br />2. , iruriftfor TauaioM Otsui anct. Subject to applicable law ortoa written waiver by Lender. Borrowershall payto lender
<br />on the day monthly installments ofpnncipal andirttarestare payable under the Note, until the Note is paid intuit. asum (herein
<br />Funds ") equal to one - twelfth of the yearly taxes rttld, assessments which may attain priority over this Deed of Trust and
<br />ground rentson the Property, if any, plusorte- tw9ifth �fyaarly premium instalimentsforhazard insurance, plus one - twelfth of
<br />yearly premium installments for mortgage innurrtnca,:tfitirly. ail as reasonably estimated initiatiy and from time to time by
<br />Lender on the basis of assessments and bills and tvaMnobte estimates thereof.
<br />TheFunds shall be held in an institution thaddpeaila'oraccounts of whichare insured orguaranteed, bya Federal orstate
<br />agency (including Lender if Lender is such. an.irrstitGtion). Lender shalt apply the funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender tgp� opt charge for so holding and applying the Founds. analyzing said account
<br />orverifying and compiling said assessmentot� 7- fillb: untessLender pays Borrower interestorEtineFunds and applicable law
<br />permits Lenderto make such a charge. Borrowerand114ndermayagree in writing atthe time of execution of this Deed ofTrust
<br />that interest on the Funds shall be paid to 8orraw -Sn and unless such agreement is made or applicabbe law requires such
<br />interest to be paid. Lender shall notce required to pa!p8arrower any interest or earntnn- s.on the Funds. Lender shall give to
<br />Barrovrer• without charge, an annusf accoun iing of the Funds showing credits and der_, ^s to the Funds and the purpose for
<br />which anh debit to the Funds was r;,0Y,44 he Funds are pledgedas additional security torthe sums secured by this Deed of.
<br />Trust.
<br />If the arrount of the funds held 6 Lem. M tether with the future monthly installments of Fur+ds payable prior to the due •
<br />dates e1: taxes, assessments, insura7* :c a premiums and ground rents, shall exceed the amount racrosed to pip sold taxe%
<br />assessments, insurance premium and ground rents as they fall due. such excess shall be, at Borrower's op'hon, either
<br />prormptly :'repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Ftinds held byy
<br />Lende Thal notbesufficienttopaytaxes, assessments. insurancepremiumsand round rentsastheyfall due. Borrowershall
<br />pay to Lender any amount necessary to make* sap the deficiency within 30 days from the date notice is mailed by Lender to
<br />Borrower requesting payment thereof.
<br />Upon payment ir.,Lll 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 Property is sold or the Property is otherwise acquired by Lender. Lender shall apply,
<br />no laterthan immediately priorto the sale of the Property or its acu isitionbyLender ,andFundsheldbyLenderatthetimeof
<br />application as a credit against the sums secured by this Deed off rust.
<br />3. Application of Paynwntts. Unless applicable law provides otherwise, all payments received by Lender under the Nola
<br />and paragraphs 1 and 2 hereof shall be applied by Lender first in paymen:of amounts payab!c- to Lender by Borrower unde7.
<br />paragraph 2 hereof, then to interest payable on the Note. then to the principal of the Note, and than to interest and principal on
<br />any Future Advances.
<br />e. Charges; Liens. Borrowers shall pay all taxes, assessments and other charges, tines and impositions a, h tabletothe
<br />Pacpe tj which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, a7- die manner
<br />providat under paragraph 2 hereof or, it not paid in such manner. by Borrower making payment when due,'directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the: event
<br />Borrower shall make payment directly, Bompaer shall promptly furnish to Lender receipts evidencing such Payments.
<br />Borrower shall promptly discharge any lien wh.th has priority over this Deed of Trust; provided that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shat l agree in writing to the payinentotthe obligation secured bysuch
<br />lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or dafend enforcement of such Ilan in,•iegal
<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 shall keep the improvements now existing or hereafter erected . on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage and such other hazardsas Lender may require
<br />and in such amounts and for such periods as Lxander may require; provided, that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage re uired to pay the sums secured by this Deed of Trust.
<br />This insurance carrier providing the insurances all be chosen by Borrower subject to approval by Lender; provided, that
<br />such approval shall not be unreasonably withheld. a1'- p7emiums on insurance policies shall be paid in the ma? nu provided
<br />under pa; agraph 2 hereof or, if not paid in such r-an %by Borrower making payment, when due, directly to the insurance
<br />carrier.
<br />All insurance policies and renewals thereof s.":a "' be in form acceptable to Lender and shall inv!;Z a standard mortgage
<br />clause in favor of and in form acceptable to Leaser. Lender shall have the right to hold the policies and re: ewals thereof, a
<br />Borrower shall promptly furnish to Lender all renewal noticesand all receipts of paid premiums. In the event of loss. Borrower
<br />shat) give prompt noticeto the insurance carrier and Lender. Lender may make proof of loss if not madepromptly by Borrower.
<br />Unless lender and Borrower othv -wise agree in writing, insurance proceeds shall be applied to restoration or repair of the
<br />Property damaged, provided such res!orr�,c Or repair is economically feasible and the security of this Deed of Trust is not
<br />thereby impaired. If such restoration or repair is- noteconomically feasible or it the security of this Deed of Trust would be
<br />impaired. the insurance proceeds shall be asvpv ed to the sums secured by this Deed of Trust, with the excess, if any, paid to
<br />Borrower. If the Property is abandoned b torrower, or if Borrower faits 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 />authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the r-I perty or to
<br />the suns secured by this Deed of Trust.
<br />Unless Lender and Borrowerotherwise aggree in writing: any such application of proceeds to principal shall not extend or
<br />postpone the due date. of the monthly installrihen s referred to in paragraphs 1 and 2 hereof or cr,arge the amount of such
<br />installments. If under paragraph 18 hereof the Property Is acquired by L rder, all right, title and imicrest of Borrower in and to
<br />any insurance policies and in and to the proceeds thereof resulting from darnagetothe Property p; is -eo the sale oracquisition
<br />shall pass to Lender to the extenr r1 ti^ie sums secured by !h'!8 Deed of Trust immediatra'y prior to s:.ich sale or acquisition.
<br />S. Preservation and Malntsrwarrar of property; Leaseholds; Condominiums; Phwdwd tdnN Borrower shall
<br />keep the Property in good repair ark shall ne± commit waste or permit impairment of deteri'oratio.�^ the PrMoperty and shall
<br />comply with the provisions of any lease iW:s Did of Trustis on a leasehold. If this Deed of Trust is cr a unit in a condominium
<br />or a planned unit development, Borrower st-a% perform all of Borrower's obligations under the dsWaration or covenants
<br />creating or ggoverning the condernirium or ptarned unit development, the by -laws and regulations of the condominium or
<br />planned unit, development. and iQonstituent documents. it a condominium or planned unit development rider is excuted by
<br />Borrower and recorded together *& -this Deed of Trust, the covenants and agreements of such rider shall be incorporated
<br />into and shall amend and supplec!snct the covenants and agreements of this Deed of Trust as if the rider were a part hereof.
<br />7. Protection of Lender's Seccitf'ty. it Borrower fails to perform the covenants and agreements contained in this Deed of
<br />Trust or if any action or pproceeding 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 to protect Lerd'er's interest including, butnot limited to, disbursement of reasonableattorney'steesand
<br />entry upon the Property to 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 />requirementforsuch insuranceterminates in accordance with Borrower's and lender's writtenagreementorapplicalbo law.
<br />Borrower shall pay the amount of all mortgage insurance permiums 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 Borrower and Lender agree to otherterms of payment. such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment hereof, and shalt bear interest from the
<br />date of disbursementat the rate payable from timetotime on outstanding principal underthe Note unless paymentof 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 underapplicable law. Noticing contained in this paragraph 7 shall require Lender to incur any expense or take any
<br />action hereunder.,
<br />I. inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Pr6perty; provided
<br />thatlender shall give Borrower notide prior to any such inspection specifying reasonable cause therefore related to Lender's
<br />interest In the Property.
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