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202501 51 9 Borrower covenants that Borrower is lawfully seized of such real estate and has the legal power and lawful authority to convey the same and warrants and will defend title to the real estate against the lawful claims of all persons. BORROWER AND LENDER AGREE AS FOLLOWS: 1. Borrower shall pay when due, the principal and interest as provided in said note. 2. All payments received by Lender shall be first applied to advances which may have been made by Lender and then to interest due and last to principal due. 3. Borrower shall pay all general real estate taxes and special assessments against the property before the same become delinquent. 4. Borrower shall keep the improvements on said real estate insured against loss by fire and hazards included within the term "extended coverage" for their insurable value and policies for the same shall include a standard mortgage clause naming Lender herein. In event of loss, Lender may make proof of loss if not promptly made by Borrower. Insurance proceeds shall be applied to restoration or repair of the property damaged, unless both parties otherwise agree, except if restoration or repair is not economically feasible or Lender's security is not lessened, otherwise said proceeds shall be paid on the debt herein, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any payments or proceeds from insurance shall not extend or postpone the due date of the monthly payments provided in said note or change the amount of the payments. 5. If Borrower fails to perform the covenants and agreements herein contained, Lender may do and pay for whatever is necessary to protect the value of the property and Lender's rights in the property, including the paying of any sum secured by a lien which has priority over this security instrument, appearing in Court, paying reasonable attorney fees and entering the property to make repairs. Any amount disbursed by Lender under this paragraph shall become an additional debt of Borrower secured by this security instrument, to bear interest from the date of disbursement and said amount, together with the then unpaid principal amount, shall bear interest at the highest lawful rate until refunded by Borrower. 6. The proceeds of any condemnation award are hereby assigned and shall be paid to Lender and shall be applied to the sums secured by this Deed of Trust, whether or not then due, with any excess paid to Borrower. 7. Any extension or modifications of the loan granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower 2