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SAd7L ENGLES VANESSA ENGLES 9 9 �O�y� �� 102715 07/27/1999
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<br /> � UNIFORM COVENANTS. Borrower and Lender cove��aiit and abree as follows:
<br /> 1. Payment of Principal and Interest. Borrower shall pr<�mptly pay when due the principal and interest
<br /> indebted�iess evide�iced hy dte Note and late cliarges as �rovided iu tl�e Note.
<br /> 2. Funds for Taxes and Insurance. Subject tc� aprlicable law or a written waiver hy Lender, Borrower shall pay to
<br /> Lender on the day m<�nthly payments of principal and i��terest are payable under the Note, until the Note is paid in full, a
<br /> sum (herein °Funds") equal to one-twelfth of the yearly taxes aud assessinents (iucludiug condominium and plaimed unit
<br /> develc>pn�ent assessmeuts, if a�iy) wl�iel� may attain priority over tliis Deed of Trust, and grc�uud rents c�n the Property, if
<br /> any, plus otie-twelftli of yearly preiliium installments ti�r llazard insurai�ce, plus one-twelfth of yeariy premium insta11t1�ents
<br /> for m��rt�age insurance, if auy, all as reasonably estimated iuitially and from time to time hy Lender on the hasis of
<br /> assessments and hills and reasonable estimates thereof. Borrower shall nc>t be obligated to make sucli payments of Funds
<br /> to Lender to the extent tliat Borrower makes such payments tc> tl�e 1�<�lder��f a prior mort�age c�r deed of trust if such l�older
<br /> is an institutional lender.
<br /> If Bc>rrc�wer pays Fuuds to Lender, tlie Fuuds sl�all be l�eld iu aii itistitution the deposits or accounts of wliicl� are
<br /> iusured or guaranteed by a Federal or state ageucy (includin� Leuder if Lender is such an institution). Lender shall apply
<br /> tl�e Funds to pay said taxes, assessments, insuraiice premiuu►s and ground retits. Lender may n��t cliarge for so l�oldiug a��d
<br /> applyi�ia the Funds, analyzi�ib said account or verifyin� and compiling said assessrnents and hills, utiless Le�ider pays
<br /> Borrower interest on the Fuuds a�id applicable law permits Lender to make such a cliarge. Borrower aiid Lender may agree
<br /> in writiug at tl�e time uf execution of tl�is Deed of Trust tl�at interest on the Funcls shall be paid t<� Borr��wer, and unless
<br /> sucl� agreeu�e►�t is made or applicahle law requires sucl� interest to be paid, Leuder sl�all not be required to pay Borrower
<br /> any ii�terest or eartiiii�s oii tl�e Funds. Le�ider sliall give to Borrower, without charge, an amival accou�itiu� of tlie Funds
<br /> sl�owiub credits and dehits to tl�e Funds and the purpose for which each debit to the Funds was tnade. The Funds are
<br /> pledged as additional security for the sums secured by this Deed of Trust.
<br /> If the amount of the Funds held by Lender, to�etlier with tl�e future monthly installments of Funds payahle prior to
<br /> the due dates of taxes, assess�T�ents, in�urauce premiums and ground reuts, shall exceed the amount required to pay said
<br /> taxes, assesst��euts, iusurance pre�niums aud ground rents as they fall due, such excess shall be, at Borrower's option,
<br /> eitl�er promptly repaid to Borrower or credited to Borrower on mouthly installments of Fui�ds. If tl�e amount��f the Funds
<br /> held by Lender shall not be sufficient to pay taxes, assessme�its, insura►ice premiums and ground retits as tl�ey fall due,
<br /> B��rrower sliall pay to Leuder any amount necessary to make up die deficieucy in oue or mc>re paymeuts as Lender may
<br /> reyuire.
<br /> Up��n payment in full of all sums secured hy�this Deed of Trust, Lender shall promptly refund to Borr<�wer any Fuuds
<br /> l�eld hy Lender. ]f under paragrapl� 17 hereof the Property is sold or the Property is otherwise acquired hy Lender, Lender
<br /> shall apply, no later than i►nmediately pri��r to tl�e sale of tl�e Property or its acquisitiou hy Lender, a�iy Funds l�eld by
<br /> Lender at the time of applicatioii as a credit a�ainst tl�e sums secured hy tliis Deed of Trust.
<br /> 3. Application of Payments. U�iless applicahle law provides otherwise, all payments received hy Lender u�ider tl�e
<br /> Note and paragrapl�s l and 2 liereof sliail be applied by Lender first in paymeut c�f a���owits payable to Letider by Borrower
<br /> uuder para�rapl� 2 hereof, then to interest payable on the Note, and then to the �riucipal of the Note.
<br /> 4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligatious
<br /> under aiiy mort�age, deed of trust or other security agreemeut with a lieii whidi l�as priority over this Deed of Trust,
<br /> includinb Borrower's coveiiants to make payments wl�en due. Burrower shall pay or cause to be paicl all taxes, assessmeiits
<br /> and otlier cl�ar�es, fines and impositioiis attributable to tl�e Properry which inay attain a priority over this Deed of Trust,
<br /> and leasehold paymeiits or grouud rents, if any.
<br /> 5. Hazard Insurance. Borrower sl�all keep tlie improvements now existing c�r hereafter erected on the Property
<br /> insured against loss hy fire, hazards iucluded withiu tl�e terin "extended coverage", aud sucl� other hazards as Leuder may
<br /> require aud in sucl� amou�its aud for sucl� periods as Le�ider iYiay require.
<br /> The insurance carrier providin� tl�e insurance sl�all he dx�sen by Borrower subject to approval by Lender; provided,
<br /> tl�at such approval shall not he unreasouably witlilield. Al) insurai�ce p��licies aud renewals thereof shall be i❑ a form
<br /> ac�eptable to Le►�der and sliali include a standard mortgage clause in favor of and in a f<�r�7� acceptahle to Lender. Lender
<br /> sliall have the riblu to l�old die �olicies and renewals thereof, subject to tl�e terms of any mortgage, deed of trust or c�ther
<br /> securiry agreement with a lieu which has priority over this Deed of Trust.
<br /> In the event of loss, Borrower shall ;ive prompt notice to tl�e insurance carrier and Lender. Lender may make proof
<br /> ��f lotis if not made promptly by Borrower.
<br /> If the Property is abando�ied by Borrower, or if Borrower fails to respond to Lender witl�in 30 days from tl�e date
<br /> notice is mailed by Lender to Borrower tl�at the iusurance carrier offers to settle a claim for insurance benefits, Lender is
<br /> autliorized to collect and apply the insurance proceeds at Leuder's option either to restoration or repair of the Property or
<br /> to tlie sui��s 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 good repair and sliall not com�liit waste or perrnit impair�Tient or deterioration of tl�e
<br /> Property and sl�all comply with the provisions of any lease if this Deed of Trust is on a leasehold. If tl�is Deed of Trust is
<br /> oti a uuit in a coiidominium or a pla�med unit developcuent, Borrower sliall perforni all of Borrower's obligatioiis under ttie
<br /> declaration <ir covenants creatin� or gc�verning the condominiun�i or planned unit uevelopment, tl�e by-laws and regulations �
<br /> of tlie condomiuiuu�or plauned uuit develupment, and constituent docuinents.
<br /> 7. Protection of Lender's Security. If Borrower fails to perform the covenants ai�d agreements coi�tained in this
<br /> Deed of Trust, or if any actiun or proceeding is conunenced wliich materially affects Lender's interest in the Property, tl�en
<br /> Leuder, at Lender's option, upc�n notice to Borrower, may make sucli appearances, disburse such sums, including
<br /> reasouable attoriieys' fees, a�id take such action as is iiecessary to protect Lender's interest. If Lender required mortgage
<br /> insurance as a condition ��f makii�� the lc�an secured by this Dee� of Trust, Borrower shall pay the premiums reyuired to
<br /> maintain such insurance iii effect until sucl� time as the requirei�ient for such insurance ter�Tiinates in accordance witl�
<br /> Borrower's and Lender's written a�reernent or applicable law.
<br /> Any ainouuts dishursed by Lender nursuat�t tci tl�is paragraph 7, witl� interest thereon, at tl�e Note rate, shall hecome
<br /> additioual indebtedness ��f Borrower secured hy tl�is Deed of Trust. Unless Borrower and Lender agree to other terms of
<br /> payi�neut, sucl� amouuts sl�all be payable upon notice from Le��der to Borrower reyuestin� �ayment thereof. Notl�ing
<br /> coutained in tliis paragrapl� 7 sliall reyuire Leuder to iiicur any expense or take any actio��l�ereunder.
<br /> 8. Inspeetion. Lender may make or cause tc> he made reas��nahle eutries upc»� and inspections of tl�e Pro�erty,
<br /> provided that Lender sl�all give Borrower notice prior to any such inspection specifyiu� reasonable cause therefor related to
<br /> Leuder's interest in the Property.
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