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� DAROIi E OBERMILLER JENNIFER J OBERMILLER 9 9 �V ! 1 V� 102699 07/14/1999
<br /> • UNIFORM COVENANTS. Borrc�wer and Lender coveuaut and agree as follows:
<br /> 1. Payment of Principal and Interest. Borrower shall promptly pay when due tl�e �rincipal aud interest
<br /> iudebtedness evidenced by the Note aud late charges as �rovided in the Note.
<br /> 2. F�mds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Borrower shall pay to
<br /> Lender ou the day mouthly payuients of principal and interest are payable under the Note, until the Note is paid in full, a
<br /> sum (herein "Funds") equal to one-twelfth of tlie yearly taxes and assessmeuts (including condominium and plamied unit
<br /> development assess«ieuts, if any) which may attain priority over this Deed of Trust, at�d ground rents on the Property, if
<br /> auy, plus one-twelfth of yearly premium install�uents for hazard insurance, plus one-twelfth of yearly premium installments
<br /> for mortga�e insurance, if any, all as reasonably estimated iuitially and fr�m time to time by ,Lender on the basis of
<br /> assessments and bil(s and reasonable estimates thereof. Borrower sl�all not he obligated to make such payments <�f Funds
<br /> to Lender to the extent that Borrower makes sucl� payments to tl�e holder of a priur murtbabe ur deed of trust if such l�older
<br /> is an iustitutioual lender. �
<br /> If Borrower pays Funds t�� Leiider, the Funds shall he lield in an institutiou tl�e deposits or accou�its of wl�ich are
<br /> iusured c�r guaranteed by a Federal or state agency (including Lender if Lender is such a❑ institution). Lender shall apply
<br /> the Fuuds to pay said taxes, assesstneuts, insurance premiums and ground reuts. Lender may not charge for so holding and
<br /> applyiug tlie Funds, aiialyzing said account or verifying and compiliug said assessments and bills, unless Lender pays
<br /> Borrower interest on the Fuuds and applicable law permits Lender to make such a charge. Borrower and Lender may agree
<br /> in writing at the tiitie of executio❑ c�f this Deed of Trust that interest ��n tl�e Funds shall he paid tu Burr��wer, and unless
<br /> sucli agreement is made or applicable law requires such interest to be paid, Lender sl�all not be requ�r� to pay BE�rrc�wer,
<br /> any iuterest or earuings on tlie Funds. Lender shall aive to Borrower, without charge, an aunual acco �ting�ci�'�tl�e Fundy
<br /> showing credits and debits to tlie Fuuds and tl�e purpose for whicl� each debit to tl�e Funds was made. The Fuuds are
<br /> pledged as additio�ial security for tlie sums secured by tl�is Deed of Trust.
<br /> If die amount of the Funds held by Lender, togetl�er with tl�e future monthly installments of Funds payable priar to
<br /> the due dates of taxes, assessuients, iusurance premiums and ground rents, shall exceed the amount required to pay said
<br /> taxes, assessments, iusurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option,
<br /> either protnptly repaid to Borrower or credited to Borrower on monthly iustallments of Funds. If tlie amount�f the Funds
<br /> l�eld by Lender shall uot be sufficient to pay taxes, assessments, insurance premiums a�id ground rents as tliey fall due,
<br /> Borrower sl�all pay tu Lender any amount necessary to t�iake up tlie deficiency in oi�e or more pay►T�ents as Lender may
<br /> require.
<br /> Upon paymeut in full of all sums secured by this Deed c�f Trust, Lender shall promptly refund to Borrower any Funds
<br /> l�eld hy Lender. If under para�raph 17 hereof the Property is sold or the Property is otherwise acquired by Leuder, Lender
<br /> sliall apply, no later than immediately prior to tl�e sale c�f tl�e Property or its acquisition by Lender, any Funds lield hy
<br /> Lender at the time of a�plication as a credit abainst tlie su�ns secured by this Deed of Trust.
<br /> 3. Application of Payments. Unless applicahle law provides otl�erwise, all payments received by Lender under the
<br /> Nc�te and paragraplis l and 21�ereof shall be applied by Lender first in paymeiit of amounts payable to Le►ider by Borrower
<br /> uuder paragrapl� 2 hereof, then to interest payable on the Note, and then to the principal of the Note.
<br /> 4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations
<br /> under any mortgage. deed c�f trust or other sec_urity a�reement with a lien u�hich l�as pric�rit�� over this Deed �f Trust,
<br /> including Borrower's a>veuants to tuake paytnents wl�en due. Burr�iwer sl�all �ay or cause tci he paid all taxes, assessments
<br /> and otl�er cliarges, fines a�id iiYipositions attributable to the Property whicl� i7iay attai�i a priority over this Deed of Trust,
<br /> and leasehold payments or ground rents, if auy.
<br /> 5. Hazard Insurance. Borrower shall keep the improvemevts now existitig or hereafter erected on the Property
<br /> insured agai�ist loss by fire, liazards included within the term "extended coverage", and such other hazards as Lender may
<br /> require aud in such amouuts aud for such periods as Lender may reyuire.
<br /> The insurance carrier providing the insurauce shall be cliosen by Borrower subject to approval by Lender; provided,
<br /> that such approval shall not be unreasouably witlil�eld. All insurance policies and renewals tl�ereof shall be in a form
<br /> acceptable tc� Lender and shall include a standard mortbage clause in favor of aud in a form acceptable to Lender. Lender
<br /> shall l�ave the right to hold the policies and renewals thereof, subject to the ternis of any mortgage, deed of trust ar other
<br /> security a�reement witl� a lien wl�icl� has prioriry over this Deed of Trust.
<br /> In tl�e eveut of loss, Borrower shall give prc�mpt uotice to tl�e iiLSUrance carrier and Lender. Leuder inay make proof
<br /> c�f loss if not made prumptly by Borrower.
<br /> If tlie Property is ahaiidoiied by Borrower, or if Borrower fails to respond tb Leiider witl�iti 30 days fro�T� the date
<br /> notice is mailed by Lender to Borrower that tlie insurance carrier offers to settle a claim for insuratice benefits, Letider is
<br /> authorized to collect and apply the insuraiice proceeds at Lenc�er's option either to restoration or repair of the Property or
<br /> to tlie sums secured hy this Deed of Trust.
<br /> 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments.
<br /> Borrower shall keep the Property in bood repair and shall not commit waste or permit itnpairment or deterioration of the
<br /> Property and shall comply with tl�e provisiorLS of any lease if this Deed of Trust is on a leasehold. If this Deed of Trust is
<br /> on a uuit in a coudominium or a platuied unit developineut, Borrower shall perform all of Borrower's obligations under the
<br /> declaratian ur covenants creating or go��erniug the condoniinium or planned unit development, tlie by-laws and re�ulations
<br /> of tl�e conduminium or planned unit developiYient, and constituent documents.
<br /> 7. Protection of Lender's Security. lf Borrower fails to perforni the coveuants and a�ree�Yieuts contained in this
<br /> Deed of Trust, or if any action or proceeding is commenced whicl�materially affects Lender's iuterest iu the Property, then
<br /> Lender, at Leuder's optiou, upou notice to Borrower, may make such appearances, disburse sucl� sut7is, including
<br /> reasonable attorueys' fees, aud take sucl� action as is necessary to protect Leuder's interest. If Lender reyuired iYiortgage
<br /> insurance as a condition of making the loan secured hy this Deed of Trust, Borrower shall pay the premiums required to
<br /> inanitain such insurauce in effect until such time as the reyuirement far sucl� insurance termi�iates in accordance with
<br /> Borrower's aud Le►�der's written agreetTient or applicable law.
<br /> Any amouuts disbursed by Lender pursuant to tl�iti paragraph 7, with interest thereon, at tl�e Note rate, shall become
<br /> additic�nal indebtedness of Borrower secured by this Deed of Trust. Utiless Borrower aud Lender agree to otl�er tert��s ��f
<br /> payi��ent, such amounts shall he payable upou notice from Lender to Borrower reyuesting payment thereof. Nothiug
<br /> contaiued in this para�raph 7 sl�all require Lender to incur avy expense or take auy action hereunder.
<br /> 8. Inspection. Lender may make or cause to be made reasouahle entries upon and inspections of tl�e Property,
<br /> �rc�vided tl�at Lender shall bive Borr��wer uotice prior to any such inspection specifying reasonable cause therefor related to
<br /> Lender's interest in tlie Property.
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