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BERNICE •J BEEDER �� �O���s 202606 08/23/1999
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<br /> UNIFORM COVEIVANTS. Borrower and Le��der coveuant and a�ree as follows:
<br /> l. Payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest
<br /> indebtedness evidenced by tl�e Note and late diar�es as provided in the Note.
<br /> 2. Fttnds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Borrower shall pay to
<br /> Leuder on the day monthly payments of principal and interest are payable under the Note, until tl�e Note is paid in full, a
<br /> sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments (includiug coudominium and plamred unit
<br /> development assess�7�ents, if auy) wl�icli may attain priority over this Deed c�f Trust, a��d grou�id rents on the Property, if
<br /> any, plus one-twelfth of yearly premium install�nents for hazard insurance, �lus one-twelfth of yearly premium installments �
<br /> for mort�age i�isurance, if any, all as reasc�nably estimated initially and from tiine to time by Lender on the basis of
<br /> assessments and bills and reasonable estimates tl�ereof. Borrower sl�all not be ohlibated to inake such payments of Funds
<br /> to Lender to the extent tl�at Borrower makes sucl� payments to tl�e holder of a prior mortga�e or deed of trust if such holder
<br /> is au institutio��al lender.
<br /> If Borrower pays Fuuds to Lender, the Funds shall be held in an institutiou the deposits or accounts of wliich are
<br /> insured or guarauteed hy a Federal or state ageocy (including Lender if Lender is such an ii�stitution). Let�der sl�all apply
<br /> the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charbe for so holding and
<br /> applyiug tl�e Funds, analyziub said account or verifying and compiling said assessuients and hills, uiiless Lender pays
<br /> Borrower interest ou tl�e Funds aud applicable law permits Lender to tnake such a charge. Borrower and Lender may agree
<br /> iu writiifg at tl�e time of executicii� of thi:, Deed of Tru�t that interest ou the Funds shall be paid to Borrower, aud unless
<br /> such agree�7ient is made or applicable law requires sucl� interest to be paid, Lender shall not be required to pay Borrower
<br /> any interest or earnings ou the Funds. Lender shall give to Barrower, without charge, an am�ual accounting of the Funds
<br /> sl�owin� credits and debits to the Funds and tlie purpose for whicl� each debit to the Funds was made. The Funds are
<br /> pled�ed as additional security ti>r the sums secured by tl�is Deed of Trust.
<br /> If the amount of tl�e Funds held by Leuder, together with the future monthly iustallments of Funds payable prior to
<br /> tl�e due dates of taxes, assessments, insurance premiums and ground rents, sl�all exceed tl�e amount reyuired to pay said
<br /> taxes, assessments, insurance premiutns and ground rents as they fall due, such excess sliall be, at Borrower's option,
<br /> either pro�Yiptly repaid to Borrower or credited to Barrower on monthly installinents of Funds. If the amount of tl�e Fuuds
<br /> lield by Le�ider sliall uot be sufficient to pay taxes, assessttients, iiLSUrance premiums aiid ground rents as tl�ey fall due,
<br /> Borrower sliall pay to Lender any amount necessary to inake up the deficieucy in one or more payments as Leuder may
<br /> require.
<br /> Upon payment in full of all sums secured by this Deed of Trust, Lender sl�all promptly refund to Borrower any Funds
<br /> held hy Le�ider. If uncler paragrapl� 17 herec�f the Property is sold or tl�e Property is otherwise acyuired hy Lender, Lender
<br /> sl�all apply, nu later than i�nmediately prior to tl�e sale of tl�e Property or its acquisition by Le►�der, any Funds held by
<br /> Leuder at tlie ti�ne of a��licatiou as a credit abai��st tl�e sums secured by tl�is Deed of Trust.
<br /> 3. Application of Payments. Unless applicable law provides otl�erwise, all pay�nents received by Lender under tl�e
<br /> Note aud paragraphs 1 and 2 l�ereof shall be applied by Leuder first in paymeut of amounts payable to Lender by Borrower
<br /> under paragraph 2 hereof, dien to interest payable on tl�e Note, ai�d then to Che principal of the Note.
<br /> 4. Prior Mortgages and Deecls of Trust; Charges, Liens. Borrower shall perform all of Borrower's obligations
<br /> under auy mortgage, deed of trust or other security agreement witl� a lien which has priority over this Deed of Trust,
<br /> includiiig B��rrower's covenants to make payments wlien due. Borrower sl�all pay or cause to he paid all taxes, assessme►�ts
<br /> and other cl�arges, tines and impositioi�s attributable to the Property which may attain a priority over tl�is Deed of Trust,
<br /> and leaseliold payments c�r ground rents, if any.
<br /> 5. Hazard Insurance. Borrower shall keep the improvements uow existing or hereafter erected on the Pr��perty
<br /> iusured against loss hy fire, hazards included within the term "extended coverage", aud such other hazards as Lender ivay
<br /> require and iu such a��iounts and for sucli periods as Lender may require.
<br /> The insurance carrier providing tl�e insurance shall be chosen by Borrower subject to approval hy Lender; provided,
<br /> that sucli approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form
<br /> acceptable to Lender and shall include a staudard mortga�e clause in favor of aud in a form acceptable to Lender. Lender
<br /> sl�all have tl�e right to hold the policies aud renewals thereof, subject to the terms of any mortgage, deed of trust or other
<br /> security a�reement witli a lien wliicli lias priority over this Deed of Trust.
<br /> In the eveut of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof
<br /> of loss if uot made promptly by Borrower.
<br /> If tlie Property is ahandoned by Borrower, or if Borrower fails to respond to Lender witl�in 30 days from the date
<br /> uotice is mailed hy Leuder to Borrower tl�at the insurai�ce carrier offers to settle a claim t<�r insurauce henefits, Lender is
<br /> autl�orized to collect and apply the iusurance proceeds at Lender's option either to restoration or repair of the Property or
<br /> to the sums secured by this Deed of Trust.
<br /> 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments.
<br /> Borrower sliall keep the Property in good repair and sl�all not commit waste or permit iinpair�lient or deterioration of tl�e
<br /> Property aud shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. If this Deed of Trust is
<br /> ��n a unit in a condominium or a planned unit development, Borrc�wer shall perform all of Bormwer's obligations under the
<br /> declaration or coveuants creating or�c�verning the condomiuiuin or plauned unit developmeut, tl�e by-laws aud regulatioi�s
<br /> of the coudominium or planned unit development, and constituent documents.
<br /> 7. Protection of Lender's Security. If Burrower fails to perfc�rm the covenants and agreemet�ts contaiued in this
<br /> Deed of Trust, or if any action or proceeding is commenced which materially affects Leuder's interest in the Property, then
<br /> Lender, at Leuder's option, upou notice to Borrower, inay make sucl� appearances, disburse such suins, includitig
<br /> reas<�nable attorueys' fees, aud take such action as is iiecessary to protect Lender's interest. If Lender required mortgage
<br /> insurance as a condition <�f making tl�e loan secured by this Deed of Trust, Borrower shall pay tl�e premiums required to
<br /> maintain such iusurauce in effect uutil such time as the requirement for such insurance terminates in accordance with
<br /> Borr<�wer's aud Lender's written agreemei�t or applicable law.
<br /> Any amouuts disbursed hy Lender pursuant to tl�is para�raph 7, with interest thereon, at the Nc�te rate, shall become
<br /> additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower aud Lender agree to other terms of
<br /> payment, sucli amounts sliall be payable upon notice from Letider ta Borrower requesting payment thereof. Notl�ing
<br /> contained iu t1�is paragrapl� 7 sl�all reyuire Lender to incur any expense or take any action l�ereunder.
<br /> 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Pro�erty,
<br /> provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to
<br /> Lender's interest iu tl�e Praperty.
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