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I � 8g��'1U655Ci TO S£CURF to Lende:r the renavme�t c�f the in�e�te�n�ss �:•i3�na�d � by Horrower's Nate 3ecured by Aeed of Trust dated of even date herewith (heYein '�Note"y , in the principal sum oP Z'WO HUNORED sicx�r-F=va �xovs�►rin Artn xo/ioo no�aRS �g�es,000.oo� witn interest therenn� providing for monthly installmente of principal and intereat, wfth the balance of the �ndebtedneas, if not sooner paid, due and payable on January 1, 1998; the payment of all aums, w3th interest thereon, advanaed in accordance herewith to protect the seeurity of . this Deed of Trust; and the performance of the covenants and agreements of Borrower herein contained. Borrower covenants that Borrower is lawfully seized of the estate hereby conveyed and has the right to qrant and conve�y the Praperty, that the Property is unencumbered, and that �orrower will warrant and defend qenerally the title to the Property against all claims and : demands� subject to any declarations, easements or restrictions listed in a schedule af exceptions to aoverage 3n any title insurance policy insuring Lender�s interest in the Property. Borrower and Lender covenant and agree as follows: � 1. P1�iYt�N� oF PRINCiPPIL AND INTffitE.�r. Horrower shall prcmptly � , pay when due the principal of and interest on the indebt�edness � evidenced by the Note, prepayment and late charges as prov3ded in the Note. Z• �DS FOR TAI�.g AND �NSURANCE. Subject to applicable law or , � to a written waiver by Lender, Borrower sha11 pay to Lender on the day � � � monthly installments of principal and interest are payable under the � a� � Note, until the Note is paid in full, a sum (herein ��Funds��) eaual ta �=-=� _ ` ��C�wc3=tin oi the yearly taxes and assessments which may attain ` priority over this Deed of Trust and :'- , ground rents on the Property, if �d any, plus one-twelfth of yearly premium installments for hazard insurance, all as reasonably estimated initially and from time to time � , by Lender on the basis of assessments and bills or reasonable estimates thereof. r , � Ths Funds shall be held by Lender. Lender shall apply the Funds � : to pay said taxes, assessments, insurance premiums and ground rents. ; The Funds are pledged as additional security for the sums secured by i this Deed of Trust. � � If the amount of the Funds held by Lender, together with the -z future monthly installments of Funds payable prior to the due dates of � �� taxes, assessments, insurance premiums and ground rents shall exceed '_- the amount required to pay said taxes, assessments, insurance premiums '``�_ and ground rents as they fall due, such excess shall be, at Borrower's �r �� ' option, either promptly repaid to Borrower or credited to Borrower on � future monthly installments of Funds. If the amount of the Funds held � - � by Lender shal]. not be sufficient to pay taxes, assessments, insurance premiums, and ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency within thirty (30j days from the date notice is mailed by Lender to Borrower , • requesting payment thereof. Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any FUnds held by Lender. If under Paragraph 18 herein the Property is snld or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by ' T Lender, any Funds held by Lender at the time of applicatfon as a � credit against the sums secured by this Deed of Trust. ! 3• a�PLICATION OF PI�YMEI�iTg, Unless applicable law ' � otherwise all provides , payments received by Lender under the Note and � Paragraphs 1 and 2 hereof shall be applied by Lender 1) first to i interest payable on the Note, 2) then in payment of amounts payable to � Lender by Borrower under Paragraph 2 hereof, and 3) then to the r. principal of the Note. � i� . :� .: 1 �