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JL05575
<br />Urtrpriaaa CovtEnAwn. Borroiw:er and l.atder covenant and agree as follows:
<br />1. Donal of aid talerrst. Rorr mer shall promptly pay when due the principal of and interest on the
<br />indebtedness evkknced�Nate, prcpaytsent and late charges as provided in the Note, and the principal of and interest
<br />Future Advances by [[7lcceedd Trust.
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<br />on arty seamed this of
<br />?. 1 %rob ftr Two reread Isaisaars. Subject to applicable law or to a written waiver by Lender. Borrower shall pay
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<br />to Lander on the day montMy iestalltaents of principal and interest arc payable under the Note. until the Note is paid in full,
<br />a wft (herein "Fustla") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
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<br />Deed of Trews. and ground rents on the Property. if any. plus one- twelfth of yearly premium inst4diments for hazard insurance.
<br />pho arse twelfth of *wly prmmdun indallaients far nos gap insurance. if any, all as reasonably estimated initially and from
<br />ante to time by Leader an the b mk of assessments and bilh and reasonable estimates thsereof.
<br />The Funds; * beg held in an institution the deposits or accounts of which air insured or guaranteed by a Federal or
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<br />state agaascy (mchditg Lender if Lender n such an institution). Lender shall apply the Funds to psy said putts. r�assessments.
<br />iasaraaee pimiu as aid ground tents. Lender may not charge for so holding and applying the Funds, analyzing said account
<br />orvterifyiag said roraiti ig said assenswrits and bills, unless lender pays Borrower interest on the Funds and applicable law
<br />pet�ta Lender. to mske such a charge Borrower and Lender may agree in writint at the time of execution of this
<br />Deed of Trust that interest on the Funds shall be paid to Borrower. and unless such agreement is made or applicable law
<br />requites such Intel rat to be paid. Lender shalt trot be required to pay Borrower any interest or eaminjjs on the Funds. Lender
<br />shall give to Borrower, witbot t charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />parpoisit for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />Dead of TrissL
<br />It the aeaossit of the Funds Judd by Lender; together with the future monthly installments of Funds payable prior to
<br />the due data of taxes, sues marts. insurance premlums and groundimats. shall exceed the amount required to pay said taxes.
<br />assessments, fragrance premiums and ground rents as they fall---drip, such excess shall be, at Borrower's option, either
<br />�repaid to Botrrwt�er or credited to Borrower on monthly installrner.><s of Funds_ If the amount of the Funds
<br />insurance they fall due.
<br />Lendet shall not be sufficient to pay taxes, assessments, premiums and ground rents as
<br />Borrower shalt pay to Leader any amount necessary, for make up tbe. deficiency within 30 days from the date notice is mailed
<br />by Loader to IJiasowtar regtsatiag part the mof.
<br />Upon pa3mamt in full of all sums sectued by this Deed of Tr.Ti r bender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property is mfrf'r`+ the Property is otherwise acquired by Lender. Lender
<br />later than immediately to the the `Pt6perty its acquisition by Lender. any Funds held by
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<br />shall apply. no prior sale of or
<br />I time the sums by this Deed of Trust.
<br />=40 at the of application as a credit against secured
<br />3. A�eadesit Unless law by Lender the
<br />of applicable provides otherwise, all payments recchred under
<br />*f.Lender in Lender by Borrower
<br />Note gad ptusgraphs 1 and 2 hereof shall be applied L first payment of amounts payable to
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<br />under paragraph 2 hereof. then to interest payable on the Note, then to the principal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />tai",eu• ' fines artsi Impositions attributable to
<br />4. Ctrn� Usm Sorrower
<br />shall pay ail assessments and other charges,
<br />ttlke•Froperty which easy attshL a priority over zags. of Trust, and leasehold payments or ground rents, if any. in the
<br />tuner provided tinder pattagmph 2 hereof or, i; m—r_im- W in such manner. by Borrower making payment, when due. directly
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<br />ro file payee dae eof. Borrower shall fly frswiaji�. &'o Lender all notices of amounts due under this para=raph, and n the
<br />Bormwkr furnish Lender
<br />evmat Bocromee.shdl make payment dr1y: shall proarptly to receipts evidencing sueh•paymentc.
<br />Botttynver shad['prooapthy discharge any lien which ti= priority ancr.t bs Deed of Trust; provided. that Harrower shall, not. he
<br />dischng�r lien long Bono in to the the try
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<br />required to any sucR so as ertw- snail aveir writing payment of obligation secured
<br />lien in to Lender, fin faith contest such lien by. or defend enforcement of such lien in.
<br />such a meaner acceptable or shall. 10cotd
<br />legal roc�inn�s which operate to prevent the en "_nrnfoment of the lien or forfeiture of the Property or any pan thereat;
<br />S. Hawsi Immisso Borrower keep iwVrovements hereafter the Proiptrty insured
<br />. shall tft now existing or erected on
<br />against loss by fire; hazards included within the term "extended coverage" and such other b=rds as Lender may rcqutre
<br />,.TApder Lender
<br />and in such amounts and for such periods ar. may require; provided, that shall.. not require that the amountiof
<br />such covqage exceed that amount of ca s• Mmd to pay the sums secured by this Dead of Trout.
<br />The insurance carrier providing the rtis► . "tall be chosen by Borrower subject re•' „0proval by Lender. provided.
<br />that be W. id. All imufance be in the
<br />sin& app wal shall not unreaeonabiy premiums on policies shall paid. . mariner
<br />prortrided tteder pirspapb 2 hereof or, if not paid in such manner, by Borrower making p"Iment, when dne, ditectly to the
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<br />usnraooe carrier.
<br />All ittmAr'puce policies and renewals Iltmeof shall be in form acimplable to Lender and shall include a standard mort"ge
<br />clause in favor of and in• form acceptable 10 Lender. Lender shalt f;ave the right to hold the policies and renewals thereof.
<br />Borrower furnish to Lender In the loss.
<br />and shall promptly all renewal notices and all rece;.pts of paid premiurrrs. event of
<br />Borrower shall give promper.t tice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />by Bacrowier.
<br />Borrower in insurance bi
<br />Unkrs Leader and otherwise agree writing, proceeds shall applied to restoration or repair of
<br />Property damaged, s feasible the security this Deed Trust is
<br />else provided such reauucation or repair economically and of of
<br />not thereby impaired. It such restotwNum ar repair is not economically feasible or if the security of this Deed of Trust would
<br />be itepauvd, the insurance propesd!'shid lire applied to the sums secured by this Deed of Tn35t, with the, excess. if any, paid
<br />to Borrower. If the Property is abandoned by Borroawt; or if Borrower fails to rwspond to Eander within 30 days from the
<br />A-'- is by Leader to Borrower the. inviranrce for insurance benefits. Lender
<br />notion mailed that carrier offers to Faille a claitri
<br />is authorized to collect gad apply the insurance prx ds at Lender's option either to restoration or repair of the Property
<br />or to the sums steeured by this Deed of Trust.
<br />Unies Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not ex-irnd
<br />or postpone the due date of the monthly installments referred to in paragrapphhss I and 2 hereof or change the amount of
<br />installments. If 18 hereof the Ruperty is by tender, right, title interest Borrower
<br />such under p�tra cab acquired all and of
<br />in and to any insurance policies in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lander to the extent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />66 h+sssevattse
<br />sad Msidmsace of t l esseheW- CertdomtiininB "wised Unit Devtlopma ts. Borrower
<br />in
<br />shall keep the Property good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and WWI
<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
<br />co adominium or a planned unit development. Borrower shall pedorm all of Borrower's obligations under the declaration,
<br />or covenants creating or governing the condominium or planned unit development. the by -faws and regulations of the
<br />condominilum cur planned unit development, and constituent documents. If a condominium or planned unit development
<br />rider a ewcuted by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider
<br />stall be incarporanted into and shall amend and supplement the covenants and agreeinents of (his Deed of Trust as if the rider
<br />we+ere a psut hereof.
<br />7. of Leader's flecierity. If Borrower fails to perform the covenants and agreements contained in this
<br />Dad of Treat. of if any action or proceeding is commenced which materially affects Lenders interest in the Property.
<br />iicttsdiig, but not limited to. otoniinertt domain, insolvency. code enforcement, or arrangements or proceedings involving a
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<br />6snkrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such appearances, dishurse such
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<br />interest, including. but not limited to, dishur.cmeni of
<br />e repairs if Lender required moriga a imuranic as a
<br />rower shall pay the premiums required to maintain %mh
<br />sums
<br />insurance terminates - in accordance with Barrowcrs anti
<br />y the amount of all mortgage insurance premiums in the
<br />aaestr provided trtsder prrs�spfi 2 hrereof.
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<br />An��rr arnotaws dishtrrsed 6y Lender pursuant to this paragraph 7, with interest thereon, shall trccome addttional
<br />WebtoaQsssss of iorrosrer secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of suet,
<br />payment,
<br />amaunu shall be payable upon notice from Lender to Borrower requesting payment thereof. and shall hear interest front the
<br />deft of disbursaaent at the rate payable from time to time on outstanding principal under the :vote unless payment of interest
<br />at such nitre would be contrary to applicable taw, in which event such amount% %hail hear interest at the highest tale
<br />perminrible under applicable law. Nothing contained in this paragraph 7 shall require lender to incur any a tpeuse or take
<br />arty action hereunder.
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<br />fl. I■tpsrda . ll.ender may make or cause to be matte reasonable entries upon and inspections of the PriTcrty, pto« #tool
<br />that Lender shall give Borrower notice prior to any such Inspection spectfyins rcluinahle cause therefor related at I e►rdo'%
<br />tntersst in the Ptoomov.
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