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<br /> $9"' 106'7 4 8
<br /> � UNIFORM COVENAlVTS.Borrower and Lender cove►iant and agree as toltows:
<br /> 1. Paym�r�l o! Prl�cipat And Int�rasl. Borrower shall promptly pay when due the pnncipal ot and interest on the
<br /> �ndebtedness evldenced by the Note,prapayment and lat�cha►�Jesas Rrov�ded in the Note,and the principa!of end interest an
<br /> any Future Advances secured by the Deed of T�ust.
<br /> 2. Fundi for Tsx�t and Inaurance.Sub'ect to applicable law or to a written waiver by Lender,Borrower shall pay to Lender
<br /> on the day monthly instalime�is of p�incipa�and inte►est a�e payable unde�the Note,until the Note is paid in tull,a sum(herein
<br /> _ "Funds")equal to one-twelRh o1 the yearly taxes and assessments which may attain prioriry over thia Doed of T�ust,and
<br /> ground rents on the Property,if any,plus one-twelRh of yearly p�emium instaliments for hazard insurance,plusone-twelRh ot
<br /> yearly p�emium instaliments tor mortgage insurance,if any,all as reaso�ably eatimated initiatly�nd irom time to time by
<br /> Lender on the basis of essessments and bilis and�easonable estimates thereol.
<br /> The Funds shall be held in an institution the deposits or accounts o1 which ere insured or guaranteed,by a Federal o�atate
<br /> agency(inctuding Lender i1 Lender is such an inst�tution). Lender shall apply the funds to pay said taxes,asaessments,
<br /> i�surance premiums and ground�e�ts.Lender may not charge for so holding and applying the Funda,analyzing said account
<br /> or verifying and compiling said assessments and bUls,unless Lender pays Borrower lnte�eston the Funds and appUcable law
<br /> permits Lende�to make such a cha�ge.Bor�ower a�d Lender may agree�n writing atthe time of execution of this Deed of Trust
<br /> that interest on the Funds shall be aid to Borrower,and unless such a reement is made o�a pUcal6e law requires such
<br /> interest to be pai�.Lende�shall noi 6e required to pay 8orrower any i�terest or earnings on tho Funds.l.ender ahall give to
<br /> BorPOwer.without charge,an annual accounting of the Funds showlng credits�nd debits to the Funds a�d the purpose for
<br /> which each debitto the Funds was made.The Funds are pledged as additlonal securitytor the sums secured by this Deed o1
<br /> Trus�
<br /> If the amount of the funds held by lender,togethsr with the future monthly instatiments o!Funds payable p►ior to the due
<br /> dates of taxes,assessments, insurance premiums and ground rents,shall exceed the amount requlred to pay said taxes,
<br /> assessments, lnsurance premiums and ground rents as they fall due,such excess shall be, at Borrower's option,either
<br /> p�omptly repaid to Borrower or credited to Qorrowe�on mpnthty i�staflments of Fundq.If the amount of the Funds hetd by
<br /> Le�dershallnotbesufticienttopaytaxes,assessme�ts,insurancepremiumsand ground�entsasthey1a11due.Bor�owershall
<br /> pay to Lender any amount necessary to make up ihe deficien�y within 30 days from the date notice is maitad by Lender to
<br /> Borrorier requesting payment thereo}.
<br /> Upon payment m full of all sums secured by this Deed of Trust,Lende�shall promptly�efund to Borrower a�y Funds held by
<br /> Lender.lt unde►paragraph 18 hereof the Property is sold orthe Property is othenvise acquired by Lender,Lender shall apply,
<br /> notaterthanimmad�atelypnortothesaleoltheFropertyoritsacquisit�onbyLender,andFundsheldbyLende�atthetimeof
<br /> application as a credit against the sums secu�ed by this Deed of T�us�
<br /> 3. Applkation o!Paym�nts.Unless applicable law provides otherwise,all payments received by Lender under the Note
<br /> and paragraphs 1 and 2 hereof shall be applied by Le�der first in payment of amounts payable tv lender by Borrower under
<br /> par8graph 2 hereof,then to interest payable on ihe Note,then to the prin eipal of the Note,and the�ta interest and principal on
<br /> any Future Advances.
<br /> 4. Char��s;Li�ns.Borrowers shall pay all taxes,assessmenis and other charges,fines and impositions attributabte to the
<br /> Praperty which may attain a p►ioriry over this Oeed of Trus1.and leasehold payments or ground rents,if any,in the manne�
<br /> provided under pa�agraph 2 hereof or,i}not paid in such manner,by Borrower making payment,when due,directly to the
<br /> payee thereof.Borrower shal!promQtly furnish to Lender a11 notices of amounts due under thi�paragraph,and in the event
<br /> Barrower shall make paymeM directly, F10�rOw8� sh811 prOmntly tumish to LPndgr ra�a��ta ovle�on a�.. a...;.�;.� �___ _
<br /> �i!l�,+..L..h �5..
<br /> �orrower shaii promptty disC�arge any tie�which has priority over tt+is Qeed of Trus�providpd,that Borrawer shal�not be '
<br /> required to discharge any such lien so long as Borrower s�all agree in writing to the payment of the ob8gation secured by such
<br /> Nen in a ma�ner acceptable to Lender,or shall in good taith contest such lien by,or detend enforcement of such lien in,legal
<br /> proceedings which operate to prevent the enforcement of the Uen or for}eiture of the Properly or any part thereof.
<br /> S. Hssard Insuraac�.8orrower shalt keep the improvements now existing or hereaiter erected on the Properry i�sured
<br /> against loss by tire,hazards included within the term"extended coverage",and such other hazards as Lender may require ' �
<br /> and�n such amounts and for such periods as Lender may require;provided,thaf Lender shalt not require that the amounf o} ,�:
<br /> such coverage exceed that amount of coverage required to pay the sums secursd by this Deed of Trust
<br /> This insurance car�ier providing the insurance shatl be chosen by Borrower subject to approval by Lender;provided,that 'i
<br /> such approval shall not be unreasonably withheld.All premiums on insuranco policies shall be paid in the manner provided
<br /> under paragraph 2 hereof or,if not paid in such ma�ne�,by 8orrower making payme��when due,directly to the insurance a
<br /> carrier.
<br /> All insu�ance poticies and renewals thereo!shall be in form acceptable to Lender and shall include a standard mortgage �
<br /> clause in favor af and in form acceptable to Lender.�ender shall have the right to hold the policies and�e�ewals thereof,and ;
<br /> Borrower shall promptly furnish to Lender all renewal noticesand all receipts of paid premiums.ln the�vent of loss.Borrower
<br /> shall give prompt notice to the insurance carrier and Lender.�ender may make proof of loss if not mada prompUy by Bonowe�. '
<br /> Unless lender and Borrower otherwise agree in writing,insurance proceeds shall be appUed to restoration or repair of the �.Y��
<br /> Property damaged,provided such restoration or repair is economically teasible and the security of this Deed ot Trust is not '
<br /> thereby impalred.I}such resioration or repair is not eco�omically teasible or if the securify of 4his Deed of Trust would be .,;,�
<br /> impaired,the insurance proceeds shall be apptied to the sums secured by this Deed of Trust,with the excess,if any,paid to
<br /> Borrower.lf the Property is abandoned by Borrower,or if Borrower faits to respond to Lender within 30 days from the date
<br /> no!ice is mailed by Lender to Borrower that the insurance carrier oHers to settte a clalm for insurance benefits,Lender is
<br /> authorized to cotlect and apply the insusance proceeds at Lender's option either to restoration or repair of the Property or to
<br /> the suma secured by this Deed of Trust.
<br /> Uniess Lender and Borrower otherwise agree in writing,any such application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly installments reterred to in paragraphs 1 and 2 hereoi or change the amount of such
<br /> installments.If under pa►agraph 1 B hereol the Property is acquired by Lender,all right,title ar�d interest oi Borrower in and to
<br /> any insurance policies and in and to the proceeds thereo}resultingfrom damage to the Properry prior to the sale or acquisition
<br /> shatt pass to Lender to the extent of the sums secured by this Deed of Trust immediatety prior to such sale or acqu�sition.
<br /> 6. Pr�a�rvation and Maintenana�of Property;Leaseholds;Condominlums;Plameed Un!!DevNapm�nts.Borrower shall
<br /> keep the Properry in good repaiR and shal!not commlt vraste or pannit+mpaPrmssst o4�etarioration of the Rroperty and shalt
<br /> compiy with the provisions ot any lease if this Deed of Trust is on a leasehold.If this Deed of Trust is on a unit in a condominium
<br /> or a p(anned un:t Cevetopment. Borrowe�shall pe�form all o}Borrower's obligations under tt�e declaration or covenants
<br /> creating or governing the condominium or ptanned uni!development,the by-laws and regulations of the condominium or
<br /> planned unit devetopment,and constituent documents.ti a condominium or planned unit development rider is excuted by
<br /> Borrower and recorded together with this Deed ot Trust,the covenants an�a reements of such rider shall be incorporated
<br /> intoand shall amend and supplement the covenants and agreements of this�eed oi 7rust as if the rider were a parf hereof.
<br /> 7. Proteetion o1 L�nd�r's Security.li Borrower fails to perform the covenants and agreements contained�n this Deed of
<br /> Trust,or if any action or proceeding is commenced with materially aHects Lender's interest in ihe Property,including but not
<br /> limited to,eminentdomain,insolvency,code enforcement,or arrangements or proceedings involving a bankruptor deceden� =__- -_
<br /> then Lender at Lend9r's opNon,upon notice to Borrower,may make such appearances,disburse such sums and take such �
<br /> action as is necessaryto protect Lender's intere�t,including,but not limited ta,disbursemsnt of reasonabte attorney's tees and
<br /> entry upon the Property to make repairs.If Lender requiredmortgage insurance as a condition of making the loan secured by
<br /> the 7eed of Trusf,Borrower shall pay the premiums required to maintain such insur�nce in effect until such time as the
<br /> requirement for such insurance terminates in accordance with Borrower'sand Lender's written agree�ent or applicalbe law.
<br /> Borrower shall pay the amount of all mortgage insurence permiums in the manner provided under paragraph 2 hereot.
<br /> Any amounts disbursed by Lender pursuant to this paragreph 7, with interest thereon, shall become additional �;
<br /> indebtadnes�oi Borrower secured by th�s Dee�of Trust.Unless Borrower and Lender agree to othpr terms of payment,such i�y'
<br /> amnunta shall be payable upon notice irom Lender to Borrower requesting payment hereof,and shall bear lnteres!from the
<br />' � dateofdisbursementattheratepayablefromtimetotimeonoutstanding princ�palunderlheNoteunlesspaymentotinterest ��
<br /> at such rete would be contrary to apptfcable law, �n which event such amounts shall bear interesl at the highest rate �,
<br /> permissible under applicable 18w.Nothing c�ntamed in thiis paragraph 7 Shall require Lender to incur any expense or take any ^�
<br />- action hereunder
<br /> e. Intp�ctlon.�ender may make or cause to be made reasonable entnes upon and mspecUOns of the Property,prov�ded ���
<br /> thaf Lc�nder she�1 g�ve Borrower not�ce pnor to any such�nspecUOn suec�fy�ng reasonabie cause theretore rel�ted to Lender's
<br /> mterest m the Properry t
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