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<br />87- 107131
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<br />UNIFORM COVENANTS. Borrower and lender covenant and agree as follows:
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<br />1. Payment 01 Principal and Intfint. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note. and the principal of and interest on
<br />any Future Advances secured by the Deed of Trust
<br />2. Fundalor Tax.. and Inaurance. Subjectto applicable law or to a written waiver by Lender. Borrowe~ shall pay to Lend~r
<br />on the day monthly installments of principal and interest are payable under the Note. until the Note is paid m fUll, a sum (herem
<br />"Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this Deed of Trust, and
<br />ground rents on the Property, if any. plus one-twelfth oly'early premium installments for hazard insurance. plus one-twelfth of
<br />rearly premium installments for mortgage insurance, If any, all as reasonably estimated initially and from time to time by
<br />ender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed, by a Federal or state
<br />agency (including lender if lender is such an institution). lender shall apply the funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. lender may not charge for so holding and applying the Funds. analyzing said account
<br />or verifying and compiling said assessments and bills. unless lender pays Borrower interest on the Funds and applicable law
<br />permits lender to make such a charge. Borrower and lender may agree m writing atthe time otexecution of this Deed Of Trust
<br />that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicalbe law requires such
<br />interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to
<br />Borrower. without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for
<br />which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Deed of
<br />Trust
<br />If the amount of the funds held by lender. together with the future monthly installments of Funds payable prior to the due
<br />dates 01 taxes. assessments. insurance premiums and ground rents. shall exceed the amount required to pay said taxes,
<br />assessments. insurance premiums and ground rents as they fall due. such excess shall be. at Borrower's option. either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by
<br />Lender shall not be sufficient to pay taxes. assessments. insurance premiums and ground rents as they fall due. Borrower shall
<br />pay to lender any amount necessary to make up the deficiency within 30 days from the date nQtice is mailed by Lender to
<br />Borrower requesting payment thereof.
<br />Upon oayment in full of all sums secured by this Deed oITrust. lender shali promptly refund to Borrower any Funds held by
<br />lender. If under paragraph 18 hereof the Property is sold orthe Property is otherwise acquired by lender. Lender shall apply.
<br />no later than immediately prior to the sale olthe Property or its acquisition by lender, and Funds held by Lender at the time of
<br />application as a credit against the sums secured by this Deed of Trust.
<br />3. ApPlIcation of Payments. Unless applicable law provides otherwise. all payments received by lender under the Note
<br />and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to lender by Borrower under
<br />paragraph 2 hereof, then to interest payable on the Note. then to the principal of the Note. and then to interest and principal on
<br />any Future Advances.
<br />4. Charges; Liens. Borrowers shall pay all taxes, assessments and other charges, fines and impositions attributable to the
<br />Property which may attain a priority over this Deed of Trust. and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment. when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices ot amounts due under this paragraph. and in the event
<br />Borrcwer shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust; provided. that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by such
<br />lien in a manner acceptable to lender, or shall in good faith contest such lien by. or defend enforcement of such lien in,legal
<br />proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Hazard Inaurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods as lender may require; provided, that lender shall not require that the amount 01
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Deed 01 Trust
<br />This insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided. that
<br />such approval shall not be unreasonably withheld. All premiums on msurance policies shall be paid In the manner provided
<br />under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment. when due. directly to the insurance
<br />carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in lavor of and in form acceptable to lender. lender shall have the right to hold the policies and renewals thereof, and
<br />Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss. Borrower
<br />shall give prompt notice 10 the insurance carrier and lender. Lender may make proof of loss il not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the
<br />Property damaged. provided such restoration or repair is economically feasible and the security 01 this Deed of Trust is not
<br />thereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Trust would be
<br />impaired. the insurance proceeds shall be applied to the sums secured by this Deed of Trust, with the excess. if any. paid to
<br />Borrower. If the Property is abandoned by Borrower, or il Borrower fails to respond to Lender within 30 days from the date
<br />notice is mailed 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 insu~ance proceeds at lender's option either to restoration or repair of the Property or to
<br />the sums secured by this Deed of Trust
<br />Unless lender and Borrower otherwise agree in writing, any such application 01 proceeds to principal shall not extend or
<br />postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such
<br />Installments. If under paragraph 18 hereof the Property is acquired by lender. all right, title and interest of Borrower in and to
<br />any insurance policies and in and to the proceeds thereol resulting from damalle to the Property prior to the sale or acquisition
<br />snail pass to lender to the extent of the sums secured by this Deed of Trust Immediately prior to such sale or acqUisition.
<br />6. Preservation and Maintenance of Property; leueholda; Condominiums; Planned Unit DevefoDmenta. Borrower shall
<br />keep the Property in good repair and shall not commit waste or permit impairment 01 deterioration 01 the Property and shall
<br />comply with the provisions 01 any lease if this Deed of Trust is on a leasehold. II this Deed of Trust is on a unit in a condominium
<br />or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration or covenants
<br />creating or governing the condominium or planned unit development.lhe by-laws and regulations of the condominium or
<br />planned unit development. and constituent documents. ff a condominium or planned unit development rider is excuted by
<br />Borrower and recorded together with this Deed of Trust. the covenants and agreements of such rider shall be incorporated
<br />into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a part hereof.
<br />7. Protection oIlenclef'a Security. If Borrower fails to perform the covenants and agreements contained in this Deed of
<br />Trust, or il any action or proceeding is commenced with materially affects lender's interest in the Property, including but not
<br />limited to. eminent domain, insolvency. code enforcement. or arrangements or proceedings involving a bankrupt or decedent,
<br />then Lender at lender's option, upon notice to Borrower, may make such appearances, disburse such sums and take such
<br />action as is necessary to protect lender's interest. including, but not limited to, disbursement of reasonable attorney's fees and
<br />entry upon the Property to make repairs. If lender required mortgage insurance as a condition of making the loan secured by
<br />the Deed of Trust. Borrower shall pay the premiums required to maintain such insurance in effect until such time as the
<br />requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicalbe law.
<br />Borrower shall pay the amount of all mortgage insurance permiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and lender agree to other terms of payment. such
<br />amounts shall be payable upon notice from lender to Borrower requesting payment hereof, and shall bear interest from the
<br />date of disbursement atthe rate payable from lime to time on outstanding prinCipal under the Note unless payment of interest
<br />at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in thiS paragraph 7 shall reqUire lender to incur any expense or take any
<br />action hereunder
<br />t. lnapection. Lender may make or cause to be made reasonable entnes upon and inspections of the Property. provided
<br />that Lender shall gl\le Borrower notice pnor to any such rnspectlon speCifying reasonable cause therefore related to Lender's
<br />rnterest in the Property
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