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• WADE H WILKINS gg���pa7�3 , 202598 08/19/1999
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<br /> UNIFORM COVENANTS. Borrower and Lender covenant and agree as 4(511ows:
<br /> 1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest
<br /> iudebted�iess evidenced by the Note and late charges as provided in the Note.
<br /> 2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Borrower shall pay to
<br /> Lei�der on the day monthly payments of principal and interest are payable under tlie Note, until the Note is paid in full, a
<br /> sum (herein "Funds") eyual to one-twelftli of die yearly taxes and assessments (including co�idominium and planned unit
<br /> develop�Yient assessmeuts, if'any) whicli may attain priority over this Deed of Trust, and grouud rents on the Property, if
<br /> any, plus oue-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium installments
<br /> for mortgage insurance, if any, all as reasonably estimated initially a�id from time to time by Lender on tl�e basis of
<br /> assessments and bills and reasonable estimates thereof. Borrower sl�all not be obligated to make such payments of Funds
<br /> to Lender to the extent that Borrower makes such payments to the holder of a prior mortgage or deed of trust if such holder
<br /> is an iustitutioual lender.
<br /> If Borrower pays Fuuds to Lender, the Funds shall be held in an institution tl�e deposits or accc�unts of whicl� are
<br /> insured or �uaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply
<br /> the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding and
<br /> applying the Funds, aualyzing said accouut or verifying and compilin� said assessments and bills, unless Lender pays
<br /> Borrower interest on the Funds and applicable law permits Leuder to make such a charge. Borrower and Lender may agree
<br /> �iu writing at the time of executiou of this Deed of Trust that interest ou the Funds shall he paid to Borrower, and unless
<br /> such a�reement is made or applicable law reyuires such interest to be paid, Lender sl�all not be required to pay Borrower
<br /> any interest or earnings on tl�e Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds
<br /> showin� credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are
<br /> pled�ed as additional security for the sums secured by this Deed of Trust.
<br /> If the amount of the Funds held by Lender, together with tl�e future monthly installments of Funds payable prior to
<br /> the due dates of taxes, assessments, insurance 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 promptly repaid to Borrower or credited to Borrower on montl�ly installments of Funds. If the amount of the Funds
<br /> held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br /> Borrower shall pay to Lender auy amount necessary to make up tl�e deficiency in one or uiore payments as Lender may
<br /> reyuire.
<br /> Upon paymeut in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Fuvds
<br /> held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Leuder, Lender
<br /> sliall apply, no later tl�an immediately prior to the sale of the Property or its acquisition by Lender, auy Funds held by
<br /> Leuder at the time of application as a credit against the sums secured by this Deed of Trust.
<br /> 3. Application of Payments. Uiiless applicable law provides otherwise, all payments received by Lender under the
<br /> Note and paragraphs 1 and 2 hereof shall be applied by Lender tirst iu payment of amounts payable to Lender by Borrower
<br /> under paragraph 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 /> uuder any mortgage, deed of trust or other security agreement with a lien which has priority over this Deed of Trust,
<br /> including Burrower's coveuants to make payments when due. Borrower sl�all pay or cause to be paid all taxes, assessments
<br /> and other charges, fiiie� and impositious attributable to the Property which may attain a priority over this Deed of Trust,
<br /> and leasehold payments or ground rents, if airy.
<br /> 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br /> insured a�aitist loss by fire, hazards iticluded within the term "exteuded coverage", and such other hazards as Lender may
<br /> require and in such amounts and for such periods as Lender may require.
<br /> Tlie insurance carrier providing tl�e insurance shall be chosen by Borrower subject to approval by Lender; provided,
<br /> that such approval shall not be unreasonably withheld. All insurance policies and reuewals thereof shall be in a form
<br /> acceptable to Lender and shall include a standard mortgage clause ui favor of and in a form acceptable to Lender. Lender
<br /> shall have the right to l�old the policies and renewals thereof, subject to the terms of any mortgage, deed of trust or other
<br /> security a�reement with a lieu which lias priority over this Deed of Trust.
<br /> In the event of loss, Barrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof
<br /> of luss if uot made promptly by Borrower.
<br /> If the Praperty is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date
<br /> notice is tnailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is
<br /> authorized to collect and apply the iusurance proceeds at Lender's option either to restoration or repair of the Property or
<br /> to the suins secured by tliis Deed of Trust.
<br /> 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments.
<br /> Borrower shall keep the Property in goad repair and shall not coimnit waste or permit impairment or deterioratio�i of the
<br /> Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. If this Deed of Trust is �
<br /> on a unit in a condominium or a plamied unit development, Borrower shall perforin all of Borrower's obligations under the
<br /> declaration or covenants creating or governing the condoininium or plamied uuit develop►nent, the by-laws and regulations
<br /> of die condominium or plaimed unit development, and constituent documents.
<br /> 7. Protection of Lender's Security. If Borrower fails to perfor�n the covenants and agreements contained in this �
<br /> Deed of Trust, or if airy actiou or proceeding is conmienced which materially affects Lender's interest in the Property, then
<br /> Lender, at Lender's option, upo�i uotice to Borrower, may make such appearances, disburse such sums, including
<br /> reasonable attorneys' fees, and take such action as is necessary to protect Lender's interest. If Lender reyuired mortgage
<br /> insurance as a conditiou of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to
<br /> maintain such insurance in effect until such time as the requirement for such insurance terminates in accardance with
<br /> Borrower's and Leuder's writteu agreement or applicable law.
<br /> Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall become
<br /> additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Leuder agree to other terms of
<br /> paymeut, such amouuts shall be payable upon notice from Lender tc� Borrower requesting payment thereof. Nothing
<br /> contained in this paragrapl� 7 shall require Lender to incur any expense or take any action hereunder.
<br /> 8. Inspection. Lender may uiake or cause to be made reasouable entries upon and inspections of the Property,
<br /> provided that Lender sliall give Borrower notice prior to auy sucli inspection specifying reasonable cause therefor related to
<br /> Lender's interest in the Property.
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