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SAM NULTE 9 9 ��9��� 202705 09/24/1999
<br /> UNIFORM COVENANTS. Borrower aud Lender covenant and agree as follows:
<br /> l. Payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest
<br /> indebtedness evidenced by the Note and late charges as provided iu the Note.
<br /> 2. Funds for Taxes and Insurance. Subject to applicable law or a writteu waiver by Lender, Borrower shall pay to
<br /> Leuder on tl�e day monthly payments of principal and interest are payable under the Note, until the Note is paid in full, a
<br /> sum (hereui "Funds") equal to one-twelfth of the yearly taxes and assessments (including condominium and pla�med unit
<br /> development assessments, if any) wl�ich may attain priority over this Deed of Trust, and ground rents on the Property, if
<br /> any, plus one-twelfth of yearly premium iustallments for hazard insurance, plus one-twelfth of yearly premium installments
<br /> for mortgage insurance, if any, all as reasouably estittiated initially and froin time to time by Lender on the basis of
<br /> assessments and bills and reasouable estimates thereof. Borrower shall uot be c�bligated to make sucl� paymeuts of Fuuds
<br /> to Leuder 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 institutional lender.
<br /> If Borrower pays Funds to Lender, the Funds shall be held iu an iustituCion the deposits or accounts of which are
<br /> iusured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Leuder shall apply
<br /> the Funds to pay said taxes, assessments, insurauce premiums and grou�id rents. Lender uiay not charge for so holding and
<br /> applying the Fut�ds, analyzin� said account or verifying and compiling said assesstnents and bills, utiless Lender pays
<br /> Borrower interest on tl�e Fu�ids aud applicable law permits Leuder to make such a charge. Borrower and Lender may agree
<br /> in writi�ig at tlie time of executiou of this Deed of Trust that interest on the Funds shall be paid to Borrower, and u�iless
<br /> sucl� agreement is made or applicable law requires such interest to be paid, Lender shall not be required to pay Borrower
<br /> any interest or earnings on the Funds. Lei�der shall give to Borrower, witliout charge, an amival accouiititig of the Funds
<br /> showing credits and debits to the Funds aud the purpose for which each debit to the Funds was made. Tl�e Funds are
<br /> pledged as additional security for the sums secured by this Deed of Trust.
<br /> If the amount of the Fuuds held hy Lender, together with tl�e future moutlily installments of Funds payable prior to
<br /> tl�e due dates of taxes, assessments, insurance premiums and grouud rents, shall exceed the amount required to pay said
<br /> taxes, assessments, iusurauce 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 monthiy installmeuts of Fuuds. If the amount of the Funds
<br /> held by Leuder shall not be sufticieut to pay taxes, assessmeuts, insurance premiums and ground rents as they fall due,
<br /> Borrower shall pay to Leuder any amount necessary to make up the deficiency in one or more payments as Lender may
<br /> require.
<br /> Upon payment in full of all sums secured by this Deed of Trust, Leuder shall prompdy refund to Borrower any Fuuds
<br /> held by Lender. If under paragraph 17 liereof the Property is sold or the Property is otherwise acquired hy Lender, Leiider
<br /> shall apply, no later thati immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br /> Leuder at die time of application as a credit against the sums secured by tliis Deed of Trust.
<br /> 3. Applieation of Payments. Utiless applicable law provides otherwise, all payments received by Lender under the
<br /> Note and para�raphs 1 and 2 hereof sliall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br /> under paragraph 2 liereof, then to interest payable on the Note, and then to the priucipal of the Note.
<br /> 4. Prior Mortgages ancl Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations
<br /> under aiiy inort�age, deed of trust or other security agreement with a lien which has prioriry over this Deed of Trust,
<br /> includiug Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid all taxes, assessments
<br /> and other charges, fines and impositions attributable to the Property which may attain a priority over this Deed of Trust,
<br /> aud leasehold payments or ground rents, if auy.
<br /> 5. Hazarcl Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br /> insured agaitist loss by tire, hazards iucluded within the term "extended coverage", and such other hazards as Lender may
<br /> reyuire and iti such amounts a��d for sucl� periods as Lender may require.
<br /> The insurance carrier providing tlie iusurance shall be chosen by Borrower subject to approval by Lender; provided,
<br /> that such approval shall nc�t be unreasonably witlil�eld. All insurance policies and renewals tl�ereof shall be in a form
<br /> acceptable to Lender and sliall include a staudard mortgage clause in favor of and in a form acceptable to Lender. Lender
<br /> shall have the rigl�t to hold the policies and renewals thereof, subject to the terms of any mortgage, deed of trust or other
<br /> security agreement witl� a lien whicli has priority over this Deed of Trust.
<br /> In the event of loss, Borrower shall give prompt uotice to the insurance carrier aud Lender. Lender may make proof
<br /> of loss if not made proinptly by Borrower.
<br /> If the Property is abandoned by Borrower, or if Borrower fails to respoud to Lender within 30 days from the date
<br /> uotice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for ii�surance benetits, Lender is
<br /> authorized to collect and apply the insurance proceeds at Lender's option either to restoration ar repair of the Property or
<br /> to tl�e suins secured by tliis Deed of Trust.
<br /> 6. Preservation and Maintenance of Property; Leaseholcls; Condominiums; Planned Unit Developments.
<br /> Borrower shall keep the Properry in good repair aud shall not conunit waste or permit impairment or deterioration of the
<br /> Property and shall comply with the provisious of any lease if this Deed of Trust is on.a leasehold. If this Deed of Trust is
<br /> ou a unit in a condominium or a plamied unit development, Borrower shall perform all of Barrower's obligations under the
<br /> declaration c�r covenants creating or governing the condominium or planned unit development, the by-laws and regulations
<br /> of the condomi�iium or plam�ed uuit development, and coustituent documents.
<br /> 7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
<br /> Deed of Trust, or if any action or proceeding is conunenced which materially affects Lender's interest iu the Property, then
<br /> Lender, at Leuder's option, upou notice to Borrower, may make sucli appearances, disburse such sums, including
<br /> reasauable attorueys' fees, atid take such action as is necessary to protect Lender's interest. If Lender required mortgage
<br /> insurance as a condition of makin� the loan secured by this Deed of Trust, Borrower shall pay the premiums required to
<br /> �7iaiutain such insurance in effect until such time as the requirement for such insurance tennii�ates in accordance with
<br /> Borrower's and Leuder's written 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 iudebteduess of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of
<br /> paymeut, sucli amou�its sliall be payahle upon uotice from Lender to Borrower reyuesting payment thereof. Nothing
<br /> contaiiied in this paragraph 7 shall reyuire Lender to incur any expense ar take any actiou hereuuder.
<br /> 8. Inspection. Le�ider may make or cause to be made reasonable entries upon and inspectious of the Property,
<br /> provided that Lender sl�all give Borrower notice prior to auy such iuspection specifying reasonable cause therefor related to
<br /> Lender's interest iu the Property.
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