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<br /> � l��F�RN!COV@NANTS. Barrower and lender covenent and egree es foilows:
<br /> . 1. Payment af Prinatcal and Inteteat. Borrower shell promptty poy when due the principal of und interest on the ,
<br /> indebtedness avidertcod by fhn Note,propoy mant end late cherges ea provfded fn the Note,and the principei ot and intorest
<br /> • ' on any future Advences scscured by the Doed of Trust. '-
<br /> 2. Funds for Texea ertd Insarnnce. Subj9at to appliceble law or to e written waiver by Lender, Borrowe�sheit pay to
<br /> - - �� � Lender on the day montht Instnllmonte of pr(nci�ta►end Interast ere peyabte under the Note,until the Note Is paid in fu1�,a
<br /> •. , � sum(herein'Funds')equuY to one-twetith of the yearly taues and esseasmenta which maY attein prlority over thls Daed of ,
<br /> T�ust,and ground�ents on the P�operty,if any,ptua ane-twelfth of yearly premium instalimenta tor he:erd insurence,ptus
<br />'. � �� ona-twelfth of yearty Rremtum Installments for mortga9e insurenco,ff anY,n118s reesonebty estimeted inftiaity and trom time °
<br />: . '� °��' y to tima by Lender on the basis of asseasments and biiis and�easonabfe estimates thereof. "
<br /> �-----"� • The Funds ehail be heid in an fnstitution the deposita or ecaounts of which ate insured or guarenteed,by federal or state
<br /> � agency (including Lender if lender is suah an InffiItutlonl. Lender shell apply the tunds to pey aetd texes.assessments.
<br />_ _yl,,:u,wr�a�A:: insurence premiums end ground rems. Lender may not charge for so hotding and appIying the Fu�ds,eneiy:ing said account
<br /> or veritytng and com�iling seid essessanenta end biiis, unless lende�pays Borrower interest on the Funds and appliceb�e lew
<br /> " .. � perm its Lender to make such e charge. gonower and lender may agree In writing at the tlme of execution af this Oncd ot ,
<br /> ' � �' Trust that interest on the Funds shali be paid to Bo►rower,and untess such ag�eement ia mede or ep pllaabie law�equires such
<br /> � ' ,} interest to be paid.Lender shall not be required to pay Borrower amr interest or eamings on the Funds. Lender shati give to
<br /> Borrower,w(thout cherge,an annual accounting of the Funds showing credits and debits to the Funds and the pu►pose for
<br /> 5 . �• . .`i whlch each debR to the Funds was mede. The Funds are pledged eo additional security for the sums secured by this Deed .;:�q
<br /> :.•� of Ttust.
<br /> y.,H� If the amouM of the funds hetd by Lender,tcgether wlth the tuture monthly instalimerrts of Funds peyeble pdor to the ��
<br /> •;��.� due dates of texes,assessments,insurence premtums and ground rents,shall exceed the amount requfred to pey said taxas. �ti;°��=:
<br /> assessments, insurance premiums and ground rents as they fall due,such excess shell be,at Borrower's option either r i�-
<br /> _ � �• M ,� prom�ptly►epaid to Bonower or credited to Borrawor on monthty insteltments of Funds. If the emount of ttre Funds�eld by
<br /> , Lender shali not be sufticient to pey texes,essessmems insurance premiums and ground rents as they tall due,Borrowet �
<br /> shali pay to Ler�der eny amoura necessery to meke up the c�eNciency within 30 days from the dete nottce is meiled by lender "'�`•�
<br /> �� to Bonower repuesting payment thsreof. Y�``
<br /> Uponpeymer�t in tuli of aU sums secured by this Oeed ot Tn�st,Lender shaD promptty�etund to eonower arty Funda heid
<br /> ; -. ,-�� � by lender. if under paragraph 18 hereof the Property is sold ar the Property is otherwise acquired by Lender,Lender shetl �.:�:
<br /> •• � epply,no Iater than immediately prlar to the sale of the Property or lts acquisition by Lende�,and Funds hetd by Lender at
<br /> - � the time of appllcetion as a credit egeinst the sums secured by this Qeed of 7►ust. ��4,
<br /> :Y ` ' � 3, ppppcadon of Payme�b. UNess applfcabte law provides otherwise,ali peyments►eceived by Lender u�der the Note
<br /> ., � ro' end par8gtephs 1 end 2 here0t Sh811 be epplied by tender first in payment of amounts payabte to Lender by Bonower under �-� _
<br /> _ _. r'� parag�apfi 2 hereof,then to interest peyeble on the Note,then to the principai of the Note,and thert to intereat and pr(ncipal ='"`��
<br /> on arry Future Advances. _-._
<br /> -��;' • ; 4, q�arges•Ltens, Bo�owers shali pay atl texes,assessments end other charges,tines and impositiona ettributabte to =_
<br /> :�„r,..., the Prqperty w�ich may attain a prtodtj►over this Deed of T�ust,and leasehold paymenta or ground reMS, if eny.in the ___
<br />-:'� r��» manner provided under peragreph 2 hereof or,if not paid i�such menner,by Bo►rower meking payment,when due,direatty __
<br /> , te rhe�eyee tt�ereof. Borrowar shall promptty turNsh to Lender ait�otices of amounta due under th(s pe�eg�eph,and in the
<br /> `%�.�� ., event Bortowet shail make payme.nt direCtly,earrower ahafl promptiy fumish to Le�er receipts ovidencireg auei�p�eYi�ianfs. °
<br /> -``�==- � ` Borrower shatl promptty discharge eny lien whtch has priotlty over this Ceed of Trust;provlded,that Borrower snati not be �
<br /> �"� �'•"•r^.- required to discharga any such lien so Iong as 9orrower shalt egree in writing to the payment of the abttgetion secured by
<br /> ?'�''"•; ' such Iien in s manner acceptebte to Lender,or shalt in good faith contest such Iten by,ur defend eniorcement of such Iien
<br /> �'�`'���•�'r;• in,legal procesdinga which operate to prevent the e�torCement of the lien or forfeiture of the Propeety o�orry part thereof.
<br /> `'s,,•.i. ,.-• 5, Hm�ad Inaua�ce. 6orrower shaii ke�p the improveme�ts now existing or hereafter erected on the Piroperty insured
<br /> against toss by 9ire,hazards inctuded wtthin the term'extersded coverage',and such other hezerds es Lender mey�equfre
<br /> -_--�=�;�'-"�'•� and in such amounts end for buch periods as Lertder may require;provided,thet Lender shail not repuire that the amounL of
<br /> '"•Y�':�: • such coverege exceed that amount of covetage�equlred to pay the sums secured by this Deed of TNSt.
<br /> -:=�':'`"' This insurance carrier providing the insurence shell be chosen by Borrower subiect to approvai by Lender,provided,that
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<br /> . �:���� such approvai shati not be unreasonably withhetd. All premtums on insurance poticies shall be petd in the manner provtded -_
<br /> ,�_���,�� under paragraph 2 hereof or,if rtot paid in sucb men�er,by Borrower making payment,when due,directly to the Insurence
<br /> carrier.
<br /> All insurancepolicies and re�ewats thereof shell be in form acceptable to Lender and sheli inc►ude e standard moRgage
<br /> -=��� c�euse in favor of end in form�cceptabte to Lender. Lender shali have the�ight to hold the policies and renewats thereof, ��
<br /> - ��, and Bomower ahatt promptty fumish to Lender all�enewai notices and all receiDts of paid premtums. In the eveM of loss.
<br /> -_,_- Bortower shaQ gfve prompt notice to the insurance car�er and lender. Lender may make proof ot loss if�ot mado promptiy
<br /> �---.�-_;�;,�,� by 8orrower.
<br /> Uniess lender and Borrower otherwise agree in writing,insurance roceeds shell be eppiied to restoretton or�epair of
<br /> -------��}-�� the Prepeny damaged,provided such restotetion or repair is economicalPy teasib�e end the security of this Deed of Trust is _
<br /> not tt�ereby impaired. If sueh restoratton or�epair is not economicatly teasibie or if the security of this Deed of Trost wouid
<br /> ---'°''"'�"� be impahed,thn insurar�ce proceeds shail be applied to the sums secured by this Deed of Trust,with the excesa,ti any,paid
<br /> --'=-"� to Borrower. if the Prope�ty is abandorted by Barcower,or if Borrowar feils to respond to Lender witAin 30 daqs� trom the
<br /> �^�°�� date notice is metted by lertder to Borrower that the insurence cerrier offers to settle a cleim for insurance berretits.lender _
<br /> -��M;,�4� is authaized to collect and apply the insurance proceeds et LenGer's optfon either to restoratlon or repeir of the Property or
<br /> r�-=-*� to the sums secured by this Deed of Trust.
<br /> -'--"" UMess Lender and Borrower otherwise agree i�writing,any such epplicetion ot proceeds to p�incipai shali not extend
<br /> .�_;,�-�+� or postpone the due date of the mortthly instetlments refened to in paragraphs 7 end 2 hereof or chenge the amouM of such _
<br /> _:�—_�•-.� insteitments. It under paregraph 18 hereof the Property is acqutred by Lender,ait�tght.tkle end interest of Bonower tn and
<br /> ---�'�--'�'- to arry Insurance poticies and in end to the proceeds thereof resuiting frorte damege to the Property pdor to the sale or __
<br /> �:,•��.��,�1� ecquis(tion shali pass to Lender to the extor►t of the sums secured by this Oesd oi Trust immeAtately prfor to s�ch sate or -`
<br /> } k acquisition.
<br /> �°""�`�`�• 8. PreservatEon end Mdntens�ee ot P►oPerty;Leasehdds:Condomtntums:Plenned Unit OarNopm[nt�. Borcower shail _
<br /> �f .� keep the proppry in good repair and shatt not commit waste or permit impairment of�etefloretion of the Property and ahail
<br /> �:�-_�l� comply with the provlsions of eny Iease if this Deed of Trust is on e leasehold. It this Deed of Trust ts on e unit in a -_
<br /> .:e�:,...;y,:� co�ominium or e ptenned unit devetopment,Borcower sheil pe�torm all of Borrowers obligations under the dectaratton or -f-
<br /> •. ^^�.Y^' covenaMS creating or goveming the condominium or pianned unit davetopmeat, the by-laws and regutallons ot the �u
<br /> .. r.u-.:...
<br /> = 1-,�±�; c e n d o miriium or planned unit deve[o pment,and constituent documents. If a condominium or ptanned unit-developmem rider _._
<br /> is executed by Bonower and recorded together with this Deed of Trust,the covenants and agreemeMs of su c h�Ider shall ��
<br /> �.:-.'��::-^..iC`:::� �_:...
<br /> - . ,r be inCOrpa�ted into and shall amer�d e�supptement the eovenarns and agr�eements of Mfis Oeed of Trust as If the rfder were
<br /> _,��.�•�•-• � ,.� e paR hereof. �'v"
<br /> 7. Protoctlo��of Lender't Se�urltp. ff B.�rrower tails to perform the cove�ants end agreements conielrted tn this Deed
<br /> • �° of Trustr or it any aetion ot proceedtng is commenced wNc metedath eNects Lenders Merest in the Prop�Ry,inctuding
<br /> � � . but not Umited to,emtnent domain,insolvency, cod�enforce ent,or anangements or proCeedings tnvolv(ng a bankrupt ar
<br /> � decedent.then Lender et Lender's option,upon nottce to Borrower.mey�nake such appearences,disbu�se such sums and -
<br /> ` ' �` take such actian ao is necessery to protect Lenders imerest. inctudEng,but not limked to,disburs�ment of�ea�nable -
<br /> ...
<br /> � __��' etto��►e9l's fees a�7d eMiY„Pon_the Ptopeoty to mHk�afrs.ief�end�t�quir�ed.v�on9888 in:a�.r.e��..e,�.e�s�e c�ti�eaf m8kin$ ,
<br /> (t10 NOt13Ci.1tIW N�ti�v vaov v� �:vo� w..v..o....�..A�«.��.�....�...�. - -
<br /> J.��� • suCh time as the requirement for such�nsurenca terminates in accordance wT�th Borrowers and Lender's wfltten egreement •
<br /> - , • ' or appiicabte law. Bonower shatt pay the amount of e0 mortgage insurence premiums in the manner provided under
<br /> �� ,;• paragreph 2 hereot.
<br /> - 3►ny emounts disbursed b�r Len der pursuant to t h is peragra p h 7, w i t h in te re s t t heteoo, s ha i l became a d d i t t on e�
<br /> indebtedness o}Borcower secured by this Oeed ot Tryst. Oldess Borrower and Lender agree to other te►ms oi payment,such
<br /> amounts shall be payabta upan noNce from Cenda to Borrower►equesting paymeM hereof,and shatt bear interest from the
<br /> date of Qisburaement at the�ete payabte irom ttme to Ume on outstanding princi�al undor the Noto unless payrr�ent of Interest
<br /> - � at SuGh rete woutd be contrery to applfcabie tew,fn which event such amounts shetl bear interest et the htghest rate
<br /> ,, permissible under applicable law. Nothing conta�rted in this paregraph 7 shaii require Lender to(rtcur e�y expanse or take
<br /> any action hereundor.
<br /> 8. Inspeatlon. Lender mey make or cause to be maQe reasonable ent�ie�upon ond Inspections of the P�operty,provided
<br /> � that lender shall give 8omower nottce Odor to any sueh inspectlon specifying�easonable ceuser therefore �elated to Lender's
<br /> •. interest in the Property.
<br /> ' ' 9. CondemndUon. The ptoceeds ot any ewe�d or cietm for damageg,direct or Consequentiat in connectlon wtth arn
<br /> - ' _ - condemnatton ar other tektng of i!�Pta�;.�F�R thereot.or fur C�nveyenCe in lieu of condttmnet{on,are heraby assigned
<br /> ,�, , and shatt be poid to Lender.
<br /> cc�oaa terss� 2
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