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<br /> ,-... _ , .�:.,. ._..., . . ; 102764 09/27/1999
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<br /> � � • UNIFORM COVENANTS. Borrower and Leuder covenant and agree as follows:
<br /> 1. Payment of Principal and Interest. Borrower shall promptly pay when due the priucipal aiid interest
<br /> i�idebtedness evide��ced by tlie Note and late charges as provided iu tl�e Note.
<br /> � 2. Funcls for Taxes and Insurance. Suhject to applicable law or a written waiver by Leuder, Borrower shall pay to
<br /> Lender c�n tl�e day monthly payments �f priucipal and interest are payable under tl�e Note, until the Note is paid in full, a
<br /> sum (l�ereiu "Funds") equal to oue-twelftl� of the yearly taxes and assessments (includin� condoniiuium and planned unit
<br /> developmeut assessiT�euts, if any) wl�icl� may attain priority over tl�is Deed of Trust, and ground rents on tl�e Property, if
<br /> any, plus oue-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium installme�its
<br /> for mortgage iusurance, if airy, all as reasouably estimated iuitially and fmm time to time by Lender on the basis of
<br /> assessments and bills and reasonable estimates tl�ereof. Borrower shall not be obligated to make such payments of Funds
<br /> to Lender to the extent that Borrower makes such paymeuts to tl�e l�older of a prior inortgage or deed of trust if such holder
<br /> is an institutional lender.
<br /> If Bonower pays Funds to Lender, the Fuuds shall be held in an institution the deposits or accounts of which are
<br /> insured or guaranteed 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, analyzing said account or verifying and compiling said assessments and bills, unless Leuder pays
<br /> Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree I
<br /> in writiiag at tl�e. time of execution oti tlus D�ed of Trust that ii�terest on the I'uiids shall be paid to Bonower, and unless
<br /> sucli abreement is made or applicable law requires sucl� iuterest to be paid, Lender shall not be required to pay Borrower
<br /> any interest �>r earninbs on the Funds. Lender sliall give to Borrower, without charge, an annual accounting of the Funds
<br /> showin� credits and dehits to tl�e Funds and die purpose for whicli each debit to the Funds was made. Tl�e Funds are
<br /> pled�ed as additional security for tl�e sums secured by this Deed of Trust.
<br />� If the a�7�ount <�f the Funds held by Lender, tog�ther witli tl�e future montlily installments of Funds payahle 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, insurance premiums and grouud rents as they fall due, such excess shall be, at Borrower's option,
<br /> either promptly repaid to Borrower ar credited to Borrower ou 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 tl�ey fall due,
<br /> Borrower shall pay to Lender a�ry amount necessary to make up the deticiency in one or more payments as Lender may
<br /> reyuire. -
<br /> Upon payment in full of all sums secured by tl�is Deed of Trust, Lender shall promptly refund to Borrower any Funds
<br /> lield hy Leuder. If uuder paragraph 17 hereof the Property is sold or tlie Property is otl�erwise acyuired by Lender, Lender
<br /> shall apply, oo later than inunediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br /> Lender at tl�e time of application as a credit against the sums secured by this Deed of Trust.
<br /> 3. Application of Payments. Utiless applicable law provides otherwise, all paymeuts received by Lender under the
<br /> Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br /> under paragrapl� 2 liereof, then to interest payable ou the Note, and then to the priucipal of the Note.
<br /> 4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perfarm all of Borrower's obligations
<br /> under any mort�age, deed of trust or other security agreement with a lien which has priority over this Deed of Trust,
<br /> including Borrower's coveuants to make paymevts when due. Borrower sliall pay or cause to be paid all taxes, assessments
<br /> and otl�er �liar�es, �nes a��d iuipositions actributable to die Pro�erty which may attaiu a priority over this Deed of Trust,
<br /> and leasel�old payments or�rouud rents, if any.
<br /> 5. Hazard Insurance. Borrower sl�all keep tl�e improvements now existing or hereafter erected on the Property
<br /> insured aaainst loss by tire, hazards included within the terin "extended coverage", and such other l�azards as Lender may
<br /> require aud iu such aniouiits and for such periods as Leiider may require.
<br /> The insurance carrier providin� the insurance shall be chosen by Bormwer subject to approval by Lender; provided,
<br /> that such approval shall not be unreasonably witl�lield. All insurance policies and renewals thereof shall be in a form
<br /> acceptable to Lender aud shall include a staudard mortgage clause iu favor of and in a form acceptable to Lender. Lender
<br /> sl�all l�ave the right to hold the policies and renewals tl�ereof, subject to the terms of any mortgage, deed of trust or otlier
<br /> security agreement witl�a lien which has priority over tliis Deed of Trust.
<br /> In the event of loss, Borrower shall give prompt notice to tlie insurauce carrier and Lender. Lender may make proof
<br /> of loss if not made promptly by Borrower.
<br /> If the Property is abandoned by Barrower, or if Borrower fails to respond to Lender witl�iu 30 days from the date
<br /> uotice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for iusurance benefits, Lender is
<br /> autl�orized to collect and apply the ii�surance proceeds at Lender's option eidier to restoration or repair of the Property or
<br /> to tl�e sumti secured hy tl�is Deed of Trust.
<br /> 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments.
<br /> Borrower shall keep tl�e Property iu good repair and shall not coiYUnit waste or permit impairment or deteric�ration of the
<br /> Property and sliall comply witl� tl�e provisioiis of a�iy lease if tl�is Deed of Trust is ou a leasel�old. If tliis Deed of Trust is
<br /> on a unit in a cc�ndominium or a plauned unit development, Barrower sl�all perform all of Borrower's obligatious under the
<br /> declaratiou or covenauts creating or governing the condominium or plaimed unit developinent, the by-laws and regulations
<br /> of tlie condominium or plauiied unit developmeut, and constituent documents.
<br /> 7. Protection of Lender's Security. If Borrow�er fails to perform the cuvenants and a�reements contained in this
<br /> Deed of'Trust, or if any actio��or�roceeding is conm�enced which materially affects Lender's interest in the Properry, then
<br /> Leuder, at Leuder's option, upon notice 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 required mortgage
<br /> iusurance as a coudition of�tiaking tl�e loau secured by this Deed�of Trust, Borrower shall pay the premiums required to
<br /> maintain sucli insurance in effect until such time as the requirement for such insurance terminates in accordance witl�
<br /> Borrower's and Lender's written agreement or applicable law.
<br /> Airy amounts disbursed by Lei�der pursuant to this paragrapl� 7, with iiiterest thereon, at the Note rate, shall become
<br /> additioual i��debtedness of Borrower secured by tliis Deed of Trust. Unless Borrower and Lender agree to other terms of
<br /> paytnent, sucl� ainounts sl�all be payahle upon notice from Lender to Borrower requesting paymeut tl�ereof. Nothing
<br /> coutained in this paragrapli 7 sliall require Lender to incur any expeuse or take aiiy actioti hereunder.
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<br /> 8. Inspection. Le�ider inay make or cause to be made reasonable entries upou and inspectio�is of the Property,
<br /> provided that Lender shall give Borrower notice prior to any such inspection specifyiug reasonable cause therefor related to
<br /> Lender's interest in the Prorerty.
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