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I" L I I 87- 107370 UNIFORM COVENANTS. Borrower and Lender covenant and agree as lollows: 1.p~~i '~f'Principal and Intet'esL Borrower shall promptly pax when due the principal. of, and inter~st on the indebte4:iness eVidenced by the Note. prepayment and late charges as provlde4:i In the Note. and the pnnclpal of and Interest on any Future Advances secured by the Deed of Trust 2. Funds forT.... and Insurance. Subjectlo applicable law or to a written waiver by Lender. Borrower shall pay to Lender on the day monthly installments 01 principal and interest are payable under the Note. until the Note is paid in full. a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this Deed of Trust. and ground rents on the Property. if any. plus one-twelfth ofy-early premium installments for hazard insurance. plus one-twelfth 01 yearly premium installments for mortgage insurance. II any. all as reasonably estimated initially and Irom time to time by Lender on the basis 01 assessments and bills and reasonable estimales thereof. The Funds shall beheld in an institution the deposits oraccounts 01 which are insured or guaranteed. by a Fe4:ieral or state agency (including Lender il Lender is such an institution). Lender shall apply the lunds 10 pay said taxes. assessments. insurance premiums and ground rents. Lender may not charge for so bolding and applying the Funds. analyzing said account or verilying and compiling said assessments and bills. unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree 10 writing at the time 01 execution of this Deed olTrusl that inlerest on the Funds shall be paid to Borrower. and unless such agreemenl is made or applicalbe law requires such interest to be paid. Lender shall not be required to pay Borrower any inlerest or earnings on the Funds, Lender shall give to Borrower. withoul charge. an annual accounting of the Funds showing credits and debits to the Funds and the purpose lor which each debil to the Funds was made. The Fundsare pledged as additional security lor the sums secured by thiS Deed 01 Trust II the amount of the lunds held by Lender. together with the future monthly installments 01 Funds payable prior to the due dates of :axes. assessments. insurance premiums and ground rents. shall exceed the amount required to pay said taxes. assessments. insurance premiums and ground rents as they fall due. such excess shall be. at Borrowers option. either promptly repaid to Borrower or credited to Borrower on monthly instaP-ments of Funds. II the amount of the Funds held by lender shall not be sulficienlto pay taxes. assessments. insurance premiums and ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency wi!hin 30 days from the date notice is mailed by Lender to Borrower requesting payment thereof. Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any Funds held by Lender. II under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender. Lender shall apply. no later than immediately prior to the sale 01 the Property or its acquisition by Lender. and Funds held by Lender at the time 01 application as a credit against the sums secured by t!lis Deed of Trust 3. Application of Payments. Unless applicable taw prOVIdes otnerw.se, all payments recer.-ed by Lender under the Note and paragraphs 1 and 2 hereof shall be applied by Lern:ler first in pa)ment 01 amounts payable to Lender by Borrower under paragraph 2 hereof. then to interest payable on the t~ofe.lhen to theprinc;pal of the Note. and then to interest and principal on any Future Advances, 4. Charges; liens. Borrowers shall pay aU taxes. assessme.T1'ls and other charges. fines and impositions attributable to the Property which may attain a priority over this Deed of Trust. and leasehokl payments Of ground rents. if any, in the manner provided under paralJraPh 2 hereof or. if nof paId an such manner. by Borrowet' makmg paymenl when due. directly to the payee thereof. Borrowet' shall promptly furnish to Lender a11 ootices of arr.ounts due undec tnis paragraph. and in the event Borrower shall make payment directly. Borrower shall promp!:ly furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has pr10rdy over this Deed of Trost provided. that Borrower shall not be required to dtscharge any such lien so long as Borrower sl\a11 agree in wrrtmg to the paymenlofthe obIigatioo secured by such lien in a manner acceptable to Lender. or shall in g()!)d faiUl COI1llest such l.en by. or defend enforcement 01 such lien in.. legal prooeedings which operate to prevent the enforcement af the lien or fortei'llJ<<e of the PropeItf or any part thereof. 5. Hazard lnaurance. Borrower shall keep the improvements now existin.g or hereafter erected on the Property insured against loss by fire. hazards induded within the term "extended cOYefage". and such other hazards as Lender may require and in such amounts and for such periods as Lemler ma)' require; provided. that Lender shall not require that the amount 01 such coverage exceed that amount of coveI'age required Uo pay the sums secured by this Deed 01 Trusl This insurance carrier providing the insurance shan bemGsen by Borrower SlIbiect to approval by Lender, provided. that such approval shall not be unreasonably wilhh~d, All prem.ums on msurance poIIicleS shall be paid In the manner provided under paragraph 2 hereol or. if not paid in such manner. by 1Btm0wer makmg paymenl when due. d,rectly to the insurance carrier. All insurance policies and renewals thereof shall be in fom1 accep'lab'le to Lender and shall include a standard mortgage clause in !avor of and in form a~table ro Leode;. Leoder~\lall have the right to hold the ~and renewals th.ereoI. and Borrower shall promptly furnish to Lender all renewal nobcesand all receop'ls of paid premtums.ln the e.-ent 01 loss.. Bono.,,~ shall give promptnobce to the insurance carrier and Leflder. Lendet' may make proololloss if not made promptly by B:v.tower, Unless Lender and Borrower Ott'lerwlse agree in wnting. in!.uraoce JXooeedsshall be applied to restorallon or repaIr 01 the Property damaged. provided such restoration or repaIr is economicall)' feasible and the secUrity 01 this Deed of Trust is not thereby impaired, II sucll restoration or repair is not &Onomicall)' feas.tI<'le or If the secunty 01 tillS Deed 01 Trust would be impaired. the insurance proceeds shall be applied 10 the sums seemed by this Deed of Trusl wi1h the excess. if any. paid to Borrower. II the Property is abandoned by Borrower. or if Bonower fails to respond 10 Lender within 30 days from the date notice is mailed by lender to Borrower that the Insurance carrier offers to settle a cllaim for msurance benefits.. lender is authorized to collect and apply the insu:ance proceeds at lender's option either to restoration or repair 01 the Property or to the sums secured by thIS Deed of Trust Unless Lender and Borrower otherw.se agree in \/o'TI"ng.an)' such app!ocalion of proceeds to prine.pal shall not extend or postpone the due date of the monthl)' installments referred tD in paragraphs 1 and 2 hereol or change the amount ot such installments. " under paragraph 18 hereof the Property IS acqul'ed by Lender. all righl btle and interest of Borrower In and to any insurance poliCIes and in and to the proceeds thereof resulting from dama!.Jl! tottle Property prior to the sale or aCQuisrtlOTl sllall pass to Lender to the eKtent of the sums secured by tnis Deed 01 Trust Immed.ateay poor to such sale or aCQUisition 6. P,eMl'Yation ami Maintenance 01 Propertr, leuehokk; Condominiuma; Planned Unit Dewelopmeftts. Borrower shall keep the Property '" gootl repaIr anti shall not commit waste or permit impairment 01 delenoration 01 the Property and shall comply WIth the proviSIons of any lease If this Deed 01 Trust ISon a leasenokl, II this Deed oITrus! is on a umt in a condominoum 0: a pj~ uOlt development Borrowel shall perform all 01 Borro",'efs obltgabOnS under the deelarallon or covenants creating or governing the condonll",um or planned unit developmenl the by-laws and legulatlOns 01 the condominoum or planned unit development. and constItuent documents, If a condomlllium or planned Ulllt development nder is exculed by Borrower and recorded together with this Deed of Trusl the covenants and agreements of such nder shall be mcorporated mto and shall amend and supplement the covenants and agreements of this Deed of Trust as ,f the rider were a part hereof. 7_ ProIKtion oIlencler's SecurilJ'. II Borrower fails to perform the covenants and agreements contained in this Deed 01 Trust. or" any actIon or proceeding IS commenced With mater&ally allects lender's mterest in theProperty.lncludln9 but not limIted to, emlnentdomam. msolvency. code enlorcemenl or arrangements or proceedings InvolVIng a bankrupt or decedent. then Lender at Lender's option. upon notice to Borrower. may make such appearances. disburse such sums and take such action as is necessary to protect Lender"s interest. InCludlflQ. but nollimited to. disbursement of reasonableattorney"s tees and entry upon the Property to make repalrs,lI Lender reqUIred mortgage ,"sura~e 3S a condlt'on 01 makmg the loan secured by the Deed of Trust. Borrower shall pay the premIums reqUIred to malntam such msurance 10 effect until such time as the requirement for such insurance terminates in accordance with &rrower's and lender's written agreement or applicalbe law, Borrower shall pay the amount 01 all mortgage Insurance perrmums In the manner provided under paraglaph 2 hereof. Any amounts disbursed by Lender pursuant 10 thiS paraglaph 7. with interest theleon. shall become additIonal Indebtedness 01 Borrower secured by thiS Deed 01 Trust Unless Borrower and Lender agree to other terms 01 payment such amounts shall be payable upon notice from Lender to Borrower requestmg payment hereof. and shall bear mtelest Irom the dale of dIsbursement at the rate payable !rom tIme 10 lime on outstandmg prinCipal under the Note unles.s payment 01 IntPlest al such rate would be contlary to apphcable law. In whIch event such amounts shall bear interest at the hIghest lale permissible under apphcable law, Nothing contalOed on thIS paragraph 7 shallleQulle Lendelto InCUI any p'Pf'nse 01 take any achon hereunder e. '~tiun. Lender may make or cause to be made leasonable entnes upon and onspecllons 01 Ihe Property, plOvlde-d thaI Lender shall gIve Borrower nohce proor to any such Inspecloon specltylOg reasonable cause thelefore related to lender's Interest 10 the Ploperty l;f ~~ ~~ -.J